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RBI to conduct OMO purchase worth $40 billion by March: BofAML
Mumbai: Reserve Bank of India (RBI) is likely to conduct additional open market operation (OMO) purchase worth USD 40 billion by March end to provide durable liquidity and contain rising government bond yields, says a report.

Last week, RBI conducted one OMO worth Rs 10,000 crore and has announced a similar amount of OMO purchase this week,

"We

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Oil boost and Italy budget hopes support European shares; Next shines
MILAN: European shares were supported in morning trading on Tuesday by gains among oil stocks, while British clothing retailer Next rallied after raising its profit guidance.

The pan-European STOXX 600 index rose 0.2 per cent by 0801 GMT, recovering part of the losses suffered in the previous session when worries over a protracted US-Sino trade

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Share market update: Over 300 stocks hit 52-week lows on NSE
NEW DELHI: Over 300 stocks, including Eicher Motors, Indiabulls Real Estate, Vodafone Idea, Jet Airways (India) and InterGlobe Aviation (IndiGo), hit 52-week lows on NSE during Tuesday's session.

Aditya Birla Capital, Andhra Cements, Arvind, Asian Granito India, Bank of Baroda, BEML, Can Fin Homes, Central Bank of India, D.B.Corp, Indian Bank, JK

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YES Bank board seeks extension for Rana Kapoor, forms search panel
The Yes Bank has formed a five member panel including two members from outside the bank to find a successor to founder CEO Rana Kapoor, less than a week after Reserve Bank of India (RBI) cut short his tenure until January 31 2019.

In a press release sent to the exchanges late on Tuesday evening, Yes Bank said that the “search and selection c

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New tariffs drive China shares lower; property firms drop on pre-sale system review
SHANGHAI; China's stock markets fell on Tuesday, their first trading day after new US and Chinese tariffs on each others goods kicked in on Monday, while property firms plunged on worries that a property pre-sale system may be scrapped.

At the close, the Shanghai Composite index was down 16.35 points or 0.6 per cent at 2,797.48. Stock markets in

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Stock market update: Bank stocks mixed; YES Bank, Axis Bank jump over 2%, but PNB, IDFC fall
NEW DELHI: Bank stocks were trading mixed during Tuesday's session.

The Nifty Bank index was 0.32 per cent up at 25,049 at 12 pm, with six stocks advancing and an equal number of stocks declining.

Shares of YES Bank (up 2.78 per cent), Axis Bank (up 2.41 per cent), IndusInd Bank (up 2.27 per cent), Bank of Baroda (up 1.02 per cent), HDFC Bank (up

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NEW DELHI: Wealth of India’s richest person Mukesh Ambani rose by Rs 300 crore per day over the past one year, according to a report by Barclays Hurun India Rich List 2018.

With a wealth of Rs 3,71,000 crore, Reliance Industries’ Chairman, Ambani holds the top position for the seventh year running on the back of over 45 per cent rise in the share

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Nikkei rises for 7th session as chip-related stocks offset machinery stocks' declines
TOKYO: Japan's Nikkei rose for a seventh session on Tuesday helped by gains in chip-related stocks that offset weakness in construction equipment manufacturers, which fell on worries that a new round of US-China trade tariffs could hurt global demand.

Investors returned to the market after a national holiday on Monday. The dollar's ascent above

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Stock market update: Indiabulls Real Estate, DLF plunge up to 5%, drag realty pack down
NEW DELHI: Shares of Indiabulls Real Estate (down 5.10 per cent), DLF (down 3.67 per cent), Unitech (down 3.57 per cent) and Phoenix Mills (down 3.54 per cent) were incurring strong losses in Tuesday's session, dragging the realty index down.

The Nifty Realty was trading 1.55 per cent down at 232 at 11:28 am.

Shares of Housing Development -

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IL FS group stocks back in the green, jump up to 12%
NEW DELHI: Shares of IL-FS group of companies got a fresh lease of life on Tuesday after LIC said that it won't let IL-FS collapse.

Shares of IL-FS Engineering and Construction Company jumped 12.02 per cent, while IL-FS Transportation Networks clocked a gain of 5.74 per cent on BSE. Shares of IL-FS Investment Managers (down

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Not ruling out raising stake in IL FS: VK Sharma, LIC Chairman
NEW DELHI: LIC, which holds over 25 per cent stake in IL-FS said that all options are open and assured that it take all possible steps to avoid contagion spreading to the market.

ET Now reported chairman VK Sharma as saying that they will ensure that IL-FS does not collapse. He does not ruled out raising stake in ailing IL-FS.

IL-FS

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NEW DELHI: August was a tricky month for domestic equity fund managers, as there was a spike in redemptions and a marked slowdown in flows to equity-linked funds, thanks to fragile investor sentiment amid US-China trade war, emerging market contagion and a rupee depreciation.

Amid such volatility, fund managers were busy buying some of the Nifty

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Tech view: Nifty50 forms Piercing Line; analysts suggest 'sell on rise'
NEW DELHI: Snapping a five-day losing streak, the Nifty50 closed above the 11,050 level on Tuesday and, in the process, formed a Piercing Line pattern on the daily chart.

Such a two-day pattern is formed when the opening level is lower than the previous day’s opening level and at close a bullish candle is formed, whose close is above the middle o

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Stock market update: IT stocks rise up to 2% on weakness in rupee; HCL Tech, Infosys top gainers
NEW DELHI: Most IT stocks were trading with gains in Tuesday's session amid a fresh fall in rupee against the US dollar.

The rupee was trading 16 paise lower at 72.80 around 12:40 pm. The Nifty IT index was 0.75 per cent up at 16,296 around that time.

Shares of HCL Technologies (up 1.95 per cent), Infosys (up 1.86 per cent) and Infibeam Avenues

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The benchmark story: How equity indices hoodwinked desi fund managers
The polarized performance of the Indian benchmark indices over the past 12 months supported by a handful of stocks and low overall positions of FPIs and MFs in those stocks would probably suggest that most actively managed funds would have trailed the market indices. This may be a good wake-up call for the industry to review the relevance of
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After Market: NBFC, IL FS stocks look up; 385 stocks at 52-week lows
NEW DELHI: Domestic equity benchmarks settled in the positive terrain for the first time in six sessions on Tuesday, on gains led by bank, financial, pharma, auto and FMCG heavyweights.

Emerging from the worst losing streak of 2018, the market started building on the gains of the late afternoon session, as sentiment got a boost from LIC's

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Share market update: FMCG stocks rise up to 2%; United Breweries, HUL top gainers
NEW DELHI: Most FMCG stocks were trading with gains in the afternoon session of trade on Tuesday, keeping the sectoral index in the green zone.

The Nifty FMCG index was trading 0.63 per cent up at 29,938 at 12:30 pm.

Shares of United Breweries (up 2.09 per cent), Hindustan Unilever (HUL) (up 1.86 per cent), Godrej Industries (up 1.42 per cent),

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Mounting concerns over asset-liability mismatches at non-banking finance companies (NBFC) may lead mutual funds to prune their exposure, or switch portfolios in favour of higher-rated paper, potentially widening the spread between companies rated differently.

The spread between A and AAA paper, which has already expanded, could stretch to around

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Sensex rallies 347 pts after seesaw trade; Nifty50 tops 11,050
NEW DELHI: The equity benchmarks Sensex and Nifty snapped a five-day losing streak on Tuesday to end almost a per cent higher. The session was marked by high volatility, as indices swung wildly during the day only to settle in the green.

The BSE Sensex gained 0.96 per cent, or 347.04 points, to 36,652.06 while its NSE counterpart Nifty jumped

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GTL, GTL Infra drop up to 5% on bankruptcy action
NEW DELHI: Shares of GTL and its unit GTL Infrastructure ran into rough weather on Tuesday as Canara Bank filed for insolvency proceedings against the two listed companies.

Shares of GTL fell 2.73 per cent to hit a low of Rs 5.71 on the BSE early today. GTL Infra shares, on the other hand, declined 5 per cent to Rs 1.35.

This will mark another

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Share market update: Pharma stocks rise up to 4%; Aurobindo Pharma, Sun Pharma, Lupin top gainers
NEW DELHI: Most pharma stocks were trading with gains during Tuesday's session even as broader market sentiment was wobbly.

The Nifty Pharma index was trading 1.68 per cent up at 10,163 at 10:35 am, with all components in the green zone.

Aurobindo Pharma (up 3.77 per cent) was the top gainer in the index, followed by Biocon (up 2.56 per cent),

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F O: Nifty50 has to hold above 11,080 to bounce towards 11,171
By Chandan Taparia The Nifty50 index had a volatile, roller-coaster ride on Tuesday, as it traded in a wide range of 200 points with a high wave swing from 10,880 to 11,080 levels.

The index witnessed a strong recovery in the last hour of the session and closed in the positive after declining in last five sessions. It formed a Piercing Line

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Stock market update: Coal India, Tata Steel drag Nifty Metal index down
NEW DELHI: Losses in shares of Coal India (down 2.31 per cent), Tata Steel (down 1.91 per cent) and Hindustan Zinc (down 0.99 per cent) dragged the metal index down in Tuesday's session.

The Nifty Metal index was trading 0.60 per cent down at 3,610 around 12:20 pm.

Shares of Hindustan Copper (down 0.80 per cent), Hindalco Industries (down 0.25

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YES Bank stock gains traction ahead of board meet
Share prices of YES Bank ruled firm on Tuesday ahead of the bank’s board meet to decide on future course of action as the RBI allowed the current CEO and MD Rana Kapoor to continue till only January-end.

The scrip was up 1.75 per cent at Rs 230.20 at around 9.40 am while the BSE Sensex was down 217 points at 36,087 at around the same time.

Kapoor,

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India Ratings downgrades debt of IL FS arm
MUMBAI: In more troubles for the crippled IL-FS group, India Ratings Tuesday downgraded the long-term issuer rating of a group company, IL-FS Environmental Infrastructure and Services (IEISL), and placed its ratings under watch.

The agency has also downgraded the ratings of various debt instruments to 'BB'.

Rival rating agency Icra had

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Share market update: Auto stocks trade mixed; Maruti rises, but Eicher Motors, M M fall
NEW DELHI: Auto stocks were trading mixed in afternoon trade on Tuesday.

The Nifty Auto index was 0.18 per cent up at 10,019 around 12:10 pm, with eight stocks trading with gains and eight incurring losses.

Shares of Motherson Sumi Systems (up 3.15 per cent), TVS Motor Company (up 2.29 per cent), Maruti Suzuki India (up 1.44 per cent) and Bajaj

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Buzzing stocks: DHFL, RCom, GMR Infra, YES Bank
NEW DELHI: With over 3.15 crore shares changing hands, DHFL was leading the pack of most traded stocks on NSE in Tuesday's session.

It was followed by Reliance Communications (number of shares traded: 2.66 crore), JP Associates (2.30 crore) and YES Bank (2.26 crore).

Suzlon Energy (1.88 crore), GMR Infra (1.15 crore), Punjab National Bank (1.02

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BPCL, HPCL, IOC shares down over 2% as crude hits fresh 4-year high
Shares of oil market companies were trading lower on Tuesday after brent crude oil prices hit a fresh four-year high amid looming US sanctions against Iran and an apparent reluctance by OPEC and Russia to raise output to offset the expected to hit to supply.

Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC) and Hindustan Petroleum C

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Future Supply Chain Solutions to raise Rs 199 crore via NCDs
Kishore Biyani-led Future Group's logistics arm Future Supply Chain Solutions (FSCSL) Tuesday said it will raise Rs 199 crore by allotting non-convertible debentures (NCDs) on a private placement basis.

"The board of directorsconsidered, approved issuance of secured redeemable non-convertible debentures for an amount aggregating to Rs 199

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Electrosteel Steels board approves delisting of company
The board of Electrosteel Steels Monday approved the proposal to delist the company, according to a regulatory filing.

The delisting proposal was taken on record and approved, in the meeting of the board of directors held today, the company said in a BSE filing.

"The company had received a letterfrom Vedanta Star Ltd (acquirer'), wherein the

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