Sensex, Nifty end lower after last hour selloff; India VIX climbs 5%

All that happened in the markets today

2:23 PM

Elara Capital on OMCs

We have a cautious stance on OMC as we see limited upside to GRM from the current levels and given that retail margin would be capped due to rising competition from private firms, such as Reliance.

We prefer IOC among OMCs, as its earnings are the most diversified. We recommend Accumulate on BPCL and raise our target price to Rs 409. We revise our rating for HPCL to Accumulate from Buy and raise our target to Rs 307. We revise our rating for IOCL to Accumulate from Buy

2:22 PM

Jefferies on Pharma sector

Global generic pharma stocks fell 5-15% recently on concerns of drug pricing case filed by 44 US states. The investigation, which has been ongoing since 2016, with the first case filed in Dec that year, may take up to two years to resolve and could result in fines for the firms involved if prior cases of such alleged collision are an indication. Among Indian companies, SUN Pharma (BUY) & Lupin (U/P) have benefited the most from products where prices had risen

2:03 PM

MARKET CHECK

1:52 PM

Tata Motors dips almost 6.5%

1:41 PM

Essel Group shares trade weak; Zee Ent, Zee Media, Dish TV down 10%

Shares of Subhash Chandra-led Essel Group companies were under pressure on Wednesday with Zee Entertainment Enterprises (ZEE), Dish TV India and ZEE Media Corporation falling by up to 11 per cent on the BSE on the back of heavy volumes. Zee Media Corporation plunged 11 per cent to Rs 12.88 after the company reported a consolidated net loss of Rs 86.66 crore, due to one-time loss of Rs 103 crore in March quarter (Q4FY19). It had posted profit of Rs 4.48 crore in the year-ago quarter. READ MORE

1:22 PM

Check out the key trading strategies as markets head towards Exit Polls

With the last phase of voting now left before the markets react to Exit Polls on May 20 morning, markets have gyrated between sharp fall and an equally impressive recovery over the past few days. On Tuesday, benchmark indices snapped their nine-day losing streak, helped by gains in Reliance, ITC and State Bank of India to end a volatile session with gains. The S&P BSE Sensex ended the day 228 points, or 0.61 per cent, higher at 37,319, with Sun Pharma, Bharti Airtel, Vedanta, IndusInd Bank, and State Bank of India among the top gainers. READ MORE

1:09 PM

China is only taking actions in self defence: China's Foreign Minister

1:09 PM

It's the US that's defining trade dispute as trade war: China's Foreign Minister

12:55 PM

Hot baths: Private equity sees opportunity in getting naked with strangers

For Japan’s growing flood of foreign tourists, one of the top internet search terms is “onsen,” the traditional hot springs where travelers have soaked since the days of the samurai. Now some of the world’s oldest businesses are attracting big new money.

 

Private equity funds like SoftBank-owned Fortress Investment Group LLC and Hong Kong-based Odyssey Capital Group are spending billions to tap into the appeal of traditional inns amid a tourism boom that’s ramping up ahead of next year’s Tokyo Olympics. READ MORE

12:52 PM

Monsoon will be delayed by five days; to hit Kerala on June 6: IMD

The monsoon will hit the Kerala coast on June 6, five days after its normal onset date, the India Meteorological Department (IMD) said on Wednesday.

 

"This year, the statistical model forecast suggests that the monsoon onset over Kerala is likely to be slightly delayed. The southwest monsoon onset is likely to set over Kerala on 6th June with a model error of plus or minus 4 days," the IMD said. READ MORE

12:43 PM

NEWS ALERT | NSE penalises about 250 companies w.r.t non-compliance with listing regulations: CNBC TV18

12:39 PM

NEWS ALERT | Karur Vysya Bank proposes dividend of Rs. 0.60/equity share of Rs. 2/- each for FY19

12:27 PM

IIFL Holdings plunges 7%

12:13 PM

SRF, DCB Bank,Titan, Merck hit record highs on strong March Qtr performance

March quarter earnings for most companies have been a mixed bag so far. Among these, however, SRF, DCB Bank, Titan Company and Merck are some of the few companies on the S&P BSE 500 index, which hit their respective record high on Wednesday. All of them reported a strong earning in the recently concluded quarter for FY19. DCM Shriram from the index hit 52-week high on good results for the quarter. READ MORE

12:08 PM

NEWS ALERT | Karur Vysya Q4 result

- Gross NPA up nearly 10% to Rs 4,450 cr sequentially.

- Net NPA up 5.4% to Rs 2,420.3 crore q-o-q