Press "Enter" to skip to content

Share market LIVE: Sensex, Nifty may open lower; Axis Bank, Eicher Motors among shares in focus

Best Stock Picks, Stock Performance, Top Gainers Stock, Invest In Stocks, Best Stocks For Invest, Stock Market, BSE, NSE, Sensex, NiftyBest Stock Picks, Stock Performance, Top Gainers Stock, Invest In Stocks, Best Stocks For Invest, Stock Market, BSE, NSE, Sensex, NiftyBSE Sensex, Nifty, Indian Share Market Live updates: The SGX Nifty was trading 0.11% or 12 points lower at 10,919 this morning.

Stock Market Live: The domestic stock markets– Sensex and Nifty– are likely to open lower tracking weak global cues. The SGX Nifty was trading 0.11% or 12 points lower at 10,919 this morning, indicating a tepid opening for Sensex and Nifty. Asian shares barely budged on Tuesday with investors looking to a new round of Sino-US trade talks as the world’s two largest economies try to resolve a tariff dispute that has put a dent on global growth and corporate earnings. MSCI’s broadest index of Asia-Pacific shares outside Japan was unchanged in early trade. Japan’s Nikkei was up 1.1 percent after a market holiday on Monday, Reuters reported.

Back home, shares of Axis Bank will assume focus, after the government is all set to come out with an offer for sale (OFS) for its Axis Bank stake held through the Specified Undertaking of Unit Trust of India (SUUTI).  The SUUTI plans to sell up to 5 crore shares of face value Rs 2 each of the private lender.  Shares of Eicher Motors will also assume focus after the Royal Enfield-maker reported strong Q3 results in the latest quarter. We bring to you LIVE updates.

The government on Tuesday will come out with an offer for sale (OFS) for its Axis Bank stake held through the Specified Undertaking of Unit Trust of India (SUUTI).  The SUUTI plans to sell up to 5 crore shares of face value Rs 2 each of the private lender. The floor price has been set at Rs 689..52 per share. he offer will take place on a separate window of the stock exchanges on February 12, 2019 (T day) and February 13, 2019 (T+1 day) from 9:15 am to 3:30 pm on both days, it also said.

Also read: Govt to sell 3% Axis Bank stake via OFS; all you need to know

The National Company Law Appellate Tribunal (NCLAT) on Monday lifted the debt moratorium on 133 offshore group entities of IL&FS, partially reversing an earlier decision on October 15 last year. Besides, a two-member bench headed by Justice SJ Mukhopadhaya approved the appointment of former Supreme Court judge Justice DK Jain to supervise resolution process of IL&FS group.

Also read: NCLAT removes mortarium on 22 Indian, 133 foreign subsidiary of IL&FS

The Indian Banks’ Association (IBA) will likely approach the Reserve Bank of India (RBI) again, seeking a special dispensation for banks to defer provisioning requirements for their exposure to the crisis-ridden IL&FS. However, instead of a relief on banks’ total exposure of over Rs 50,000 crore to the entire group, the IBA may seek a breather for only ‘amber’ companies of IL&FS, sources told FE. The ‘amber’ category refers to those IL&FS entities that may have adequate cash flows for repayment to secured creditors but not enough to meet claims of unsecured creditors.

Also read: IL&FS exposure: IBA may again turn to RBI for relief to banks

KKR’s real estate-focused non-bank finance company KKR India Asset Finance (KIAFL) on Monday announced that it has extended `725 crore ($102 million) to real estate developer Embassy Group to finance a premium office development in Bengaluru. Based in Bengaluru, the Embassy Group has delivered 53 million square feet of office, residential, retail, hospitality and industrial warehouses, according to a release issued by KKR.

Also read: KKR’s NBFC arm invests Rs 725 crore in Embassy group project in Bengaluru

Asian shares barely budged on Tuesday with investors looking to a new round of Sino-U.S. trade talks as the world’s two largest economies try to resolve a tariff dispute that has put a dent on global growth and corporate earnings. MSCI’s broadest index of Asia-Pacific shares outside Japan was unchanged in early trade. Japan’s Nikkei was up 1.1 percent after a market holiday on Monday. U.S. and Chinese officials expressed hopes on Monday that a new round of talks would bring them closer to easing their months-long trade war. Beijing and Washington are trying to hammer out a deal before a March 1 deadline, without which U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.

Also read: Global markets: Asian shares subdued, focus on new round of Sino-US talks

Share market on Monday: The domestic stock markets Sensex and Nifty ended lower on Monday, tracking weak global cues. The Sensex closed 151.45 points down to 36,395.03, while the Nifty ended 55 points lower at 10,888.80.  Dr Reddy’s Lab share price slumped by more than 7.5% to Rs 2,559.35, while M&M shares closed 4.7% lower at Rs 650 on NSE.Tata Steel shares gained by more than 2% to Rs 478.70 on NSE, after the firm reported strong Q3 results. Earlier, US market closed largely higher on Friday but Dow fell amid lingering fears over US-China trade & global growth. Asian equities were in the green but quickly giving up gains; Taiwan in the green but off highs.

Source: Financial Express