Business Standard Podcast

Benchmark indices ended Friday's volatile session in the red, thus recording fall for the eighth straight day and third consecutive week, as investors remained cautious ahead of the US-China trade negotiation outcome. The benchmark S&P BSE Sensex ended the day 96 points, or 0.26 per cent, lower at 37,463, with Tata Consultancy Services (TCS), HCL Tech, Tata Steel, IndusInd Bank and Infosys contributing the most to the indice's fall. Twenty-one of the 30 constituents of BSE ended the session with losses. The broader index Nifty50 gave up the crucial 11,300 mark and slipped 23 points, or 0.20 per cent, at 11,279. About 1,187 shares advanced, 1,270 shares declined, and 162 shares were unchanged.  On a weekly basis, Sensex and Nifty post biggest weekly loss since October 2018, falling over 3 per cent each. Among sectoral indices, both Nifty IT and Nifty Metal dipped more than 1 per cent. However, Nifty PSU Bank gained 2.5 per cent, the highest among the gainers. The broader indices fared better than their benchmark peers with the S&P BSE MidCap index ending 34 points, or 0.24 per cent, higher at 14,390, while the S&P BSE SmallCap index was ruling at 14,106, up 29 points or 0.21 per cent. BUZZING STOCKS HCL Technologies slipped over 4 per cent to Rs 1,08.05 on the BSE after the company announced a 100 basis point (bps) cut in the estimated operating margin (OM) for FY20 as against FY19.   State Bank of India (SBI) shares rose nearly 3 per cent to Rs 308.05, bouncing back from day's low of Rs 292 in intra-day trade on the BSE, after the bank reported improvement in assets quality in last quarter of financial year 2018-19 (Q4FY19)

The Supreme Court on Thursday asked the government to look into the possibility of it taking over the Unitech Group and complete the pending housing projects to protect the interest of home buyers. A two-judge bench headed by Justice DY Chandrachud said it would like to hear Attorney General KK Venugopal's views in the matter. The government could look at the possibility of completing these housing projects, which would be a relief for home buyers, who had invested their hard-earned savings into it. The court’s order came a day after its another on Wednesday said that ownership of Amrapali group in its various housing projects would taken away and would be handed over to Noida and Greater Noida authorities which will complete construction and hand over possession to buyers.  Listen to this podcast for more.

The Supreme Court on Thursday asked the government to look into the possibility of it taking over the Unitech Group and complete the pending housing projects to protect the interest of home buyers. A two-judge bench headed by Justice DY Chandrachud said it would like to hear Attorney General KK Venugopal's views in the matter. The government could look at the possibility of completing these housing projects, which would be a relief for home buyers, who had invested their hard-earned savings into it. The court’s order came a day after its another on Wednesday said that ownership of Amrapali group in its various housing projects would taken away and would be handed over to Noida and Greater Noida authorities which will complete construction and hand over possession to buyers.  Listen to this podcast for more.

Apprehensions ahead of the US-China trade deal decision are likely to keep investors on tenterhooks on Friday. Moreover, March quarter results and a depreciating rupee will also be on their radar.  On Thursday, the benchmark S&P BSE Sensex lost 230 points, or 0.6 per cent, to settle at 37,559 levels. The broader Nifty50 closed above the crucial level of 11,300 at 11,302. It lost 58 points or 0.5 per cent. The rupee ended at Rs 69.94 per US dollar against Wednesday’s close of Rs 69.71.   EARNINGS TODAY Country’s largest state-run bank, State Bank of India (SBI) is scheduled to announce its Q4FY19 numbers today along with Canara Bank, Allahabad Bank, Eicher Motors and L&T. In all, 56 companies will announce their last quarter earnings of the financial year 2018-19 (FY19) on Friday. GLOBAL CUES Asian shares firmed up from two-month lows on Friday on hopes that Washington may suspend its plan to raise tariffs on $200 billion worth of Chinese goods. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.2 per cent while Japan’s Nikkei rose 0.4 per cent. On Wall Street, S&P 500 index lost 8.7 points (0.3 per cent) to end at 2,871 levels, while Nasdaq ended 33 points (0.4 per cent) lower at 7,910 levels. Dow Jones Industrial Average, too, shed 139 points (0.54 per cent) to close at 25,828 levels. OIL PRICES US oil prices rose on Friday on renewed optimism that a trade deal between Washington and Beijing could be struck. Brent crude futures were at $70.85 a barrel at 5:51 am, up 0.7 per cent, from their last close. 

Apprehensions ahead of the US-China trade deal decision are likely to keep investors on tenterhooks on Friday. Moreover, March quarter results and a depreciating rupee will also be on their radar.  On Thursday, the benchmark S&P BSE Sensex lost 230 points, or 0.6 per cent, to settle at 37,559 levels. The broader Nifty50 closed above the crucial level of 11,300 at 11,302. It lost 58 points or 0.5 per cent. The rupee ended at Rs 69.94 per US dollar against Wednesday’s close of Rs 69.71.   EARNINGS TODAY Country’s largest state-run bank, State Bank of India (SBI) is scheduled to announce its Q4FY19 numbers today along with Canara Bank, Allahabad Bank, Eicher Motors and L&T. In all, 56 companies will announce their last quarter earnings of the financial year 2018-19 (FY19) on Friday. GLOBAL CUES Asian shares firmed up from two-month lows on Friday on hopes that Washington may suspend its plan to raise tariffs on $200 billion worth of Chinese goods. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.2 per cent while Japan’s Nikkei rose 0.4 per cent. On Wall Street, S&P 500 index lost 8.7 points (0.3 per cent) to end at 2,871 levels, while Nasdaq ended 33 points (0.4 per cent) lower at 7,910 levels. Dow Jones Industrial Average, too, shed 139 points (0.54 per cent) to close at 25,828 levels. OIL PRICES US oil prices rose on Friday on renewed optimism that a trade deal between Washington and Beijing could be struck. Brent crude futures were at $70.85 a barrel at 5:51 am, up 0.7 per cent, from their last close. 

Benchmark indices ended lower on Thursday for the seventh straight session with heavyweights like Reliance Industries (RIL) and Coal India leading the list of losers even as United States and China prepare to start trade deal negotiations later in the day. RIL that slipped nearly 3.4 per cent on the BSE to Rs 1,255 levels and hit its lowest closing level in two months. In the process, TCS overtook the Mukesh Ambani-controlled RIL to become the ost valued company on market-capitaliasation (m-cap) basis.  At the index level, S&P BSE Sensex slipped 230 points, or 0.61 per cent, to end the day at 37,559. Out of the 30 index constituents, only 12 ended in the green. The broader Nifty50 index dipped 58 points, or 0.51 per cent, to finish at 11,302. "We remain cautious on the Indian markets and expect it to remain volatile in the near term on back of on-going Q4FY19 earnings season. Investors’ focus would be on domestic macro data (IIP) which is scheduled tomorrow," said Jayant Manglik, President - Retail Distribution, Religare Broking. Adding: "Globally, progress of trade talks between US and China, behavior of crude oil prices and fluctuation in currency will be on investor’s radar. Given uncertain market conditions, we advise traders & investors to be selective in stock picking." Among sectoral indices, Nifty Media was the biggest winner, up 3.58 per cent, while Nifty Metal index remained under pressure throughout the day and finished 1.4 per cent lower. In the broader market, the S&P BSE MidCap index fell 28 points, or 0.19 per cent, at 14,355, while the S&P BSE SmallCap index ended 53 points, or 0.38 per cent, lower at 14,076. BUZZING STOCKS Shares of YES Bank fell about 2.5 per cent to Rs 157 on the BSE during the early morning trade on Thursday before ending the day six per cent higher at Rs 170.30 even though rating agency India Ratings (Ind-Ra) downgraded the bank’s long-term ratings even as it reaffirmed the short term rating.  Avadh Sugar & Energy shares surged 13 per cent to Rs 518 in early morning trade on the BSE on Thursday after the company announced that the board will meet on Monday (May 13) to consider maiden bonus issue. However, the share ended the day 8.75 per cent at Rs 499.75. 

Benchmark indices ended lower on Thursday for the seventh straight session with heavyweights like Reliance Industries (RIL) and Coal India leading the list of losers even as United States and China prepare to start trade deal negotiations later in the day. RIL that slipped nearly 3.4 per cent on the BSE to Rs 1,255 levels and hit its lowest closing level in two months. In the process, TCS overtook the Mukesh Ambani-controlled RIL to become the ost valued company on market-capitaliasation (m-cap) basis.  At the index level, S&P BSE Sensex slipped 230 points, or 0.61 per cent, to end the day at 37,559. Out of the 30 index constituents, only 12 ended in the green. The broader Nifty50 index dipped 58 points, or 0.51 per cent, to finish at 11,302. "We remain cautious on the Indian markets and expect it to remain volatile in the near term on back of on-going Q4FY19 earnings season. Investors’ focus would be on domestic macro data (IIP) which is scheduled tomorrow," said Jayant Manglik, President - Retail Distribution, Religare Broking. Adding: "Globally, progress of trade talks between US and China, behavior of crude oil prices and fluctuation in currency will be on investor’s radar. Given uncertain market conditions, we advise traders & investors to be selective in stock picking." Among sectoral indices, Nifty Media was the biggest winner, up 3.58 per cent, while Nifty Metal index remained under pressure throughout the day and finished 1.4 per cent lower. In the broader market, the S&P BSE MidCap index fell 28 points, or 0.19 per cent, at 14,355, while the S&P BSE SmallCap index ended 53 points, or 0.38 per cent, lower at 14,076. BUZZING STOCKS Shares of YES Bank fell about 2.5 per cent to Rs 157 on the BSE during the early morning trade on Thursday before ending the day six per cent higher at Rs 170.30 even though rating agency India Ratings (Ind-Ra) downgraded the bank’s long-term ratings even as it reaffirmed the short term rating.  Avadh Sugar & Energy shares surged 13 per cent to Rs 518 in early morning trade on the BSE on Thursday after the company announced that the board will meet on Monday (May 13) to consider maiden bonus issue. However, the share ended the day 8.75 per cent at Rs 499.75. 

Congress leaders including from former Prime Minister Manmohan Singh claimed that several surgical strikes were conducted by army during the previous UPA rule. “Multiple surgical strikes took place during our tenure, too. For us, military operations were meant for strategic deterrence and giving a befitting reply to anti-India forces than to be used for vote garnering exercises, Singh had said in an interview to a newspaper. Congress leader Rajiv Shukla had told reporters at an AICC briefing last week that six surgical strikes were conducted during the period of Manmohan Singh government. PM Modi in a rally slammed the Congress for telling "lies" aand said the party does surgical strikes only "in video games"  Listen to this podcast for more..

Congress leaders including from former Prime Minister Manmohan Singh claimed that several surgical strikes were conducted by army during the previous UPA rule. “Multiple surgical strikes took place during our tenure, too. For us, military operations were meant for strategic deterrence and giving a befitting reply to anti-India forces than to be used for vote garnering exercises, Singh had said in an interview to a newspaper. Congress leader Rajiv Shukla had told reporters at an AICC briefing last week that six surgical strikes were conducted during the period of Manmohan Singh government. PM Modi in a rally slammed the Congress for telling "lies" aand said the party does surgical strikes only "in video games"  Listen to this podcast for more..

Trade deal negotiations between the United States and China along with March quarter results and rupee movement will be keenly watched by the investors on Thursday. On Wednesday, the benchmark indices, S&P BSE Sensex and Nifty50 lost 488 points and 138 points, respectively to settle at 37,790 and 11,359 levels. The rupee fell for the third consecutive day to Rs 69.71 against the US currency amid weak global growth sentiment. It depreciated by 28 paise. EARNINGS CORNER Q4FY19 results of HCL Technologies, Apollo Tyres, Indian Overseas Bank and PNB Housing Finance will be closely tracked among the 55 companies that are scheduled to announce their quarterly results during the day. GLOBAL CUES The two-day meeting between Washington and Beijing will begin today to finalise the contours of the trade deal. While delegates from China are yet to meet their American counterparts, media reports have suggested that the Trump administration has “done the paperwork” to hike tariffs on $200 billion worth of goods from Friday. On Wall Street, the benchmark S&P 500 fell during the overnight trade on Wednesday for the third day in a row. The Dow Jones Industrial Average ended 2.24 points higher at 25,967 levels, the S&P 500 lost 4.63 points to close at 2,879 and the Nasdaq dropped 20.44 points to end at 7,943 levels. Among Asian stocks, Japan’s Nikkei was trading 197 points lower in the early trade on Thursday while Korea’s KOSPI was down 17.16 points. OIL PRICES Oil prices dropped in the early trade amid concerns over the escalating trade battle between the United States and China. Brent crude oil futures were at $69.92 a barrel at 6:32 am, down 0.63 per cent from their previous settlement.

Trade deal negotiations between the United States and China along with March quarter results and rupee movement will be keenly watched by the investors on Thursday. On Wednesday, the benchmark indices, S&P BSE Sensex and Nifty50 lost 488 points and 138 points, respectively to settle at 37,790 and 11,359 levels. The rupee fell for the third consecutive day to Rs 69.71 against the US currency amid weak global growth sentiment. It depreciated by 28 paise. EARNINGS CORNER Q4FY19 results of HCL Technologies, Apollo Tyres, Indian Overseas Bank and PNB Housing Finance will be closely tracked among the 55 companies that are scheduled to announce their quarterly results during the day. GLOBAL CUES The two-day meeting between Washington and Beijing will begin today to finalise the contours of the trade deal. While delegates from China are yet to meet their American counterparts, media reports have suggested that the Trump administration has “done the paperwork” to hike tariffs on $200 billion worth of goods from Friday. On Wall Street, the benchmark S&P 500 fell during the overnight trade on Wednesday for the third day in a row. The Dow Jones Industrial Average ended 2.24 points higher at 25,967 levels, the S&P 500 lost 4.63 points to close at 2,879 and the Nasdaq dropped 20.44 points to end at 7,943 levels. Among Asian stocks, Japan’s Nikkei was trading 197 points lower in the early trade on Thursday while Korea’s KOSPI was down 17.16 points. OIL PRICES Oil prices dropped in the early trade amid concerns over the escalating trade battle between the United States and China. Brent crude oil futures were at $69.92 a barrel at 6:32 am, down 0.63 per cent from their previous settlement.

Benchmark indices ended lower for the sixth consecutive session on Wednesday amid across-the-board selling and weak global cues. The S&P BSE Sensex lost 488 points or 1.27 per cent to settle at 37,790 with Reliance Industries (RIL) being the top loser and Asian Paints the biggest gainer. RIL alone contributed around 153 points to the Sensex's fall.  The broader Nifty50 index of the National Stock Exchange (NSE) slipped below the crucial 11,400 level to end at 11,359, down 138 points or 1.2 per cent. Out of 50 constituents, 40 ended in the red and just 10 in the green.  SECTOR WATCH All the sectoral indices on NSE ended in the red. Media stocks took the hardest knock, followed by realty and PSU bank stocks. The Nifty Media index settled at 2,134, down 101 points or 4.53 per cent. STOCKS THAT MADE NEWS Reliance Industries: Shares of Reliance Industries (RIL) hit an eight-week low on the BSE on Wednesday. The stock has lost 7 per cent in the past three trading days. It ended at Rs 1,299.45 apiece on BSE, down over 3 per cent. READ MORE Essel Group shares: Shares of Subhash Chandra-led Essel Group companies were under pressure on Wednesday with Zee Entertainment Enterprises (ZEEL) and Dish TV India falling more than 8 per cent each on the BSE. The fall comes despite the group's assurance that the stake sale process of Zee Entertainment Enterprises was at an "advanced stage." At close, ZEEL stood at Rs 333, down 10 per cent while Dish TV India settled nearly 2 per cent lower at Rs 31.  Vodafone Idea: Vodafone Idea shares hit a new low of Rs 13.65, down 12 per cent on Wednesday, declining 17 per cent in past two trading days on the BSE, on back of two-fold jump in trading volumes. The stock ended at Rs 14.35, down over 7 per cent.  BROADER MARKET  In line with benchmarks, the S&P BSE MidCap index shed 139.50 points or 1 per cent to end at 14,383 while the S&P BSE SmallCap closed the day at 14,129 levels, down 172 points or 1.21 per cent.

Benchmark indices ended lower for the sixth consecutive session on Wednesday amid across-the-board selling and weak global cues. The S&P BSE Sensex lost 488 points or 1.27 per cent to settle at 37,790 with Reliance Industries (RIL) being the top loser and Asian Paints the biggest gainer. RIL alone contributed around 153 points to the Sensex's fall.  The broader Nifty50 index of the National Stock Exchange (NSE) slipped below the crucial 11,400 level to end at 11,359, down 138 points or 1.2 per cent. Out of 50 constituents, 40 ended in the red and just 10 in the green.  SECTOR WATCH All the sectoral indices on NSE ended in the red. Media stocks took the hardest knock, followed by realty and PSU bank stocks. The Nifty Media index settled at 2,134, down 101 points or 4.53 per cent. STOCKS THAT MADE NEWS Reliance Industries: Shares of Reliance Industries (RIL) hit an eight-week low on the BSE on Wednesday. The stock has lost 7 per cent in the past three trading days. It ended at Rs 1,299.45 apiece on BSE, down over 3 per cent. READ MORE Essel Group shares: Shares of Subhash Chandra-led Essel Group companies were under pressure on Wednesday with Zee Entertainment Enterprises (ZEEL) and Dish TV India falling more than 8 per cent each on the BSE. The fall comes despite the group's assurance that the stake sale process of Zee Entertainment Enterprises was at an "advanced stage." At close, ZEEL stood at Rs 333, down 10 per cent while Dish TV India settled nearly 2 per cent lower at Rs 31.  Vodafone Idea: Vodafone Idea shares hit a new low of Rs 13.65, down 12 per cent on Wednesday, declining 17 per cent in past two trading days on the BSE, on back of two-fold jump in trading volumes. The stock ended at Rs 14.35, down over 7 per cent.  BROADER MARKET  In line with benchmarks, the S&P BSE MidCap index shed 139.50 points or 1 per cent to end at 14,383 while the S&P BSE SmallCap closed the day at 14,129 levels, down 172 points or 1.21 per cent.

The Trump administration is proposing a hike in the H-1B visa application fee to increase funding for the expansion of an apprentice programme, which trains American youths in technology related activities, Labour Secretary Alexander Acosta told US lawmakers. Testifying before a Congressional committee on annual budget of the Department of Labour for the fiscal year 2020 beginning October 1, 2019, Acosta, however, did not give details of the proposed increase in H-1B filing fee and as to which categories of applicants it would be enforced on. Arguing that foreigners hurt American workers by competing for jobs and driving down wages, the Trump administration has tighten the noose around the H-1B visa program. Listen to this podcast for more.

The Trump administration is proposing a hike in the H-1B visa application fee to increase funding for the expansion of an apprentice programme, which trains American youths in technology related activities, Labour Secretary Alexander Acosta told US lawmakers. Testifying before a Congressional committee on annual budget of the Department of Labour for the fiscal year 2020 beginning October 1, 2019, Acosta, however, did not give details of the proposed increase in H-1B filing fee and as to which categories of applicants it would be enforced on. Arguing that foreigners hurt American workers by competing for jobs and driving down wages, the Trump administration has tighten the noose around the H-1B visa program. Listen to this podcast for more.