Sensex trades higher, Nifty around 10,900; Jet Airways slips 5%

Market opens: Equity benchmarks have started the day on a positive note, with the Nifty is trading above 10,900 level.

The Sensex is up 137.17 points at 36458.46, while Nifty is up 36.40 points at 10926.70. About 472 shares have advanced, 170 shares declined, and 46 shares are unchanged. 

All other sectoral indices are trading in the green, while Midcap index is up 0.35 percent. 

Zee Entertainment, Bharti Airtel, Indiabulls Housing, HDFC, Axis Bank, Bajaj Finance are trading higher, while HCL Tech, Bajaj Auto, Jet Airways, Mindtree, Infosys, BPCL have lost the most. 

Shares of Reliance Industries and Hindustan Unilever are trading higher ahead of third quarter numbers.

Rupee Opens: The Indian rupee opened higher at 71.15 per dollar on Thursday versus previous close 71.24.

Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-trades-higher-nifty-around-10900-jet-airways-slips-5-3400771.html

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Closing Bell: Nifty ends below 10,900, Sensex flat; IT, energy stocks gain

Market at close: Benchmark indices ended the volatile day on flat note with Nifty closed below 10,900, while Sensex finished near day's low point.

The Sensex was up 2.96 points at 36321.29, while Nifty was up 3.50 points at 10890.30. About 1208 shares have advanced, 1345 shares declined, and 144 shares are unchanged. 

Indiabulls Housing, Yes Bank, Wipro, IndusInd Bank and BPCL are the top gainers on the Nifty, while JSW Steel, Bharti Infratel, Bajaj Finance, UPL and Vedanta are the top losers on the Nifty.

Source: https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-below-10900-sensex-flat-it-energy-stocks-gain-3395851.html

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Sensex sees a positive start, Nifty back at 10,900; Zee up 4%

Market opens Equity benchmarks have started the day on a positive note, with the Nifty reclaiming 10,900 in the first few minutes of trade. 
The Sensex is up 72.82 points or 0.20% at 36391.15, and the Nifty up 22.90 points or 0.21% at 10909.70. The market breadth is positive as 289 shares advanced, against a decline of 95 shares, while 30 shares were unchanged. 

Except pharmaceuticals, all other sectoral indices are trading in the green. The Nifty Midcap index is up one-fifth of a percent. 

Vedanta, Yes Bank, and Zee Entertainment, while Sun Pharma, Bharti Airtel, JSW Steel and Dr Reddy’s have lost the most. 

Rupee opens The Indian rupee opened at 71.06 per dollar on Wednesday versus 71.04 yesterday.

Source: https://www.moneycontrol.com/news/business/markets/stock-share-market-live-updates-bse-nse-sensex-sees-a-positive-start-nifty-back-at-10900-zee-up-4-3395851.html

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Finance Ministry may sell part of SUUTI holding in Axis Bank, ITC

The Finance Ministry may consider selling part of its stake in Axis Bank and ITC, held through SUUTI, in next few months, an official said.

As on September 30, 2018, Specified Undertaking of Unit Trust of India (SUUTI) held around 9.63 percent stake in Axis Bank, 7.97 percent in ITC and 1.80 percent in L&T.

While the government is waiting for L&T to launch a buyback offer to tender its shares; for holding in Axis Bank and ITC, it would consider off-market deals, an official said.

"We are open to selling stake in Axis Bank and ITC through bulk or block deals. It all depends on the valuation," the official told PTI.

Shares of Axis Bank settled at Rs 666.50, up 0.53 percent, while ITC was up 2.02 percent at Rs 295.40 at close of market hours on January 11.

A bulk deal is a deal in which more than 0.5 percent of the total number of shares of a listed company are sold or bought by a single investor in the open market. In a block deal, two parties make a transaction involving shares worth at least Rs 5 crore. Block deal transactions are conducted in a separate trading window.

Infrastructure major Larsen & Toubro (L&T) has already approached market regulator Sebi for launching a share buyback programme. The government would participate in the buyback programme, and is expecting to get around Rs 700 crore.

The government had sold 2.5 percent stake in L&T held through SUUTI in June 2017 through block deals in the market.

In February 2017, the government had raised Rs 6,700 crore through sale of 2 percent stake held through SUUTI in tobacco-to-FMCG firm ITC.

In November 2016 it sold 1.63 percent in L&T, while in March 2014 it had sold 9 percent stake in Axis Bank to raise Rs 5,500 crore through block deals.

SUUTI holdings in ITC, Axis Bank and L&T are also part of Bharat 22 exchange-traded fund (ETF).

The government, which has set a divestment target of Rs 80,000 crore for 2018-19, has so far raised over Rs 34,000 crore.

Source:https://www.moneycontrol.com/news/business/finance-ministry-may-sell-part-of-suuti-holding-in-axis-bank-itc-3384471.html

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