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Trade tensions, FII outflows drag equity indices lower

Global trade tensions along with disappointing quarterly results suppressed the key Indian equity indices on Wednesday.
 
The key indices -- the S&P BSE Sensex and NSE Nifty50 -- had a gap-down opening and were subsequently weighed down by the outflow of foreign funds.
 
Sector-wise, heavy selling pressure was witnessed in banking, automobile, oil and gas, capital goods and consumer goods stocks.
 
Consequently, the wider Nifty50 of the National Stock Exchange (NSE) ended the day's trade lower by 138.45 points or 1.20 per cent at 11,359.45 points.
 
The barometer 30-scrip Sensitive Index (Sensex), which opened at 35,204.66 points, closed at 37,789.13 points, lower by 487.50 points or 1.27 per cent, from its previous session's close of 38,276.63 points.
 
"Indian markets opened weak in line with other global markets as concerns over US-China trade deal resurfaced," said Deepak Jasani, head of retail research at HDFC Securities.
 
"It was the sixth consecutive session of losses for the Nifty. It opened with a downgap and gradually kept falling. After recovering intra-day, a second round of fall began... Ultimately the Nifty closed near the day's low," Jasani added.
 
Vinod Nair, head of research at Geojit Financial Services, said: "The market continued to slide as escalation in trade war and anxiety over global growth dampened the risk sentiment. Selling was broad based while the outflow of foreign funds may impact liquidity in the market.
 
"The ongoing Q4 results are not surprising the investors whereas the expectation continued to be positive. Stability in oil prices and drop in bond yield are some positive triggers for the market which will provide edge over the other emerging markets."
 
Provisional data from the BSE showed that FIIs sold stocks worth Rs 701.50 crore and DIIs bought stocks worth Rs 232.95 crore.
 
Similarly, the rupee weakened by 31 paise to settle at Rs 69.72 per US dollar from its previous close of 69.43.
 
IANS
 

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IAF plane overshoots Mumbai airport runway

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An Indian Air Force (IAF) aircraft overshot the runway at Mumbai International Airport late on Tuesday, hitting operations for some time, official sources said here on Wednesday.
 
The incident occurred around 11.39 p.m. when the IAF plane, an AN-32, was preparing to take off from the main runway at CSMIA.
 
The aircraft was departing for the Yelahanka Air Force base near Bengaluru, said IAF sources, and there were no casualties in the incident.
 
According to Defence Ministry officials, the aircraft had to abandon take- off in view of a technical issue and overshot the runway.
 
"The aircraft and the crew are safe. A recovery team has arrived in Mumbai and the aircraft will be cleared shortly," the officials said.
 
IANS
 

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Markets open in red on Wednesday

The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a negative note during the morning session of the trade.
 
The Sensex of the BSE opened at 38,244.18 and touched a high of 38,248.57 and a low of 38,031.38 after closing on Tuesday at 38,276.63.
 
It is trading at 38,076.59 down by 199.94 points or 0.52 per cent.
 
On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at 11,478.50 after closing at 11,497.90. It is trading at 11,431.75 in the morning.
 
IANS
 
 
 

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MI beat CSK by 6 wickets, cruise into fifth IPL final

 
Mumbai Indians sailed into their fifth Indian Premier League (IPL) final as they defeated arch-rivals Chennai Super Kings (CSK) by six wickets in the first Qualifier of the Indian Premier League (IPL) 2019 at the M. A. Chidambaram Stadium here on Tuesday.
 
Suryakumar top-scored for Mumbai with a crafty 71 not out off 54 balls, his innings was studded with 10 fours.
 
Suryakumar, who was dropped twice, brought up his seventh IPL fifty, and second this season, in 37 balls as Mumbai coasted to 132/4 in 18.3 overs.
 
For Chennai, Imran Tahir returned the best figures of 2/33.
 
Mumbai, led by Rohit Sharma, will now play the final on Sunday at Hyderabad.
 
Chasing 132 for victory on a typically slow wicket which is not easy to bat on, Mumbai were reduced to 21/2 in the first four overs. 
 
Skipper Rohit was removed in the second ball of the innings after hitting a four, with Deepak Chahar trapping the star India batsman in front.
 
In-form Quinton de Kock (8) also did not last long, scooping a Harbhajan Singh delivery to his national team captain Faf du Plessis at wide long off.
 
From there on, there was no looking back for the visitors despite Tahir taking two wickets in two deliveries in the 14th over to dismiss Ishan Kishan (28) and Krunal Pandya (0) as Suryakumar hit the winning runs by smashing Deepak Chahar for a four.
 
Hardik Pandya was not out at the other end on 13 off 11 balls as Mumbai won with nine balls to spare.
 
Earlier, an unbeaten 66-run stand between M.S. Dhoni (37 not out off 29) and Ambati Rayudu (42 off 37) helped CSK post 131/4. 
 
After losing their top order for just 65 runs, it was Dhoni and Rayudu who anchored the Chennai innings.
 
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For Mumbai, Rahul Chahar starred with the ball with figures of 2/14 from his four overs while Krunal Pandya and Jayant Yadav bagged a wicket each.
 
Opting to bat first, the defending champions got off to a slow start with just 6 runs on the scorecard in the first two overs before Rahul came up with the first breakthrough, dismissing Faf du Plessis (6 off 11) in the first ball of the third over.
 
Suresh Raina couldn't do much as he also departed cheaply after being caught and bowled by Jayant Yadav.
 
Things worsened for the home side when Krunal packed back Shane Watson (10 off 13), with Chennai reeling at 32/3 in 6 overs.
 
Murali Vijay (26 off 26) and Rayudu then tried to put things back in order as they added 33 runs for the fourth wicket before the former became a victim of Chahar in the 13th over.
 
Dhoni then joined Rayudu and the duo denied Mumbai any further inroads as they shared a 66-run partnership to take Chennai to 131, thanks to the Chennai skipper's couple of lusty blows off Lasith Malinga in the second last over.
 
Brief scores: Chennai Super Kings 131/4 (Ambati Rayudu 42 not out, M.S. Dhoni 37 not out, Rahul Chahar 2/14); Mumbai Indians 132/4 in 18.3 overs (Suryakumar Yadav 71, Imran Tahir 2/33)
 
IANS
 

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IPL Qualifier I: Chennai posts paltry 131/4 vs Mumbai

 
A valuable unbeaten 66-run stand between MS Dhoni (37 not out off 29) and Ambati Rayudu (42 off 37) helped Chennai Super Kings post a paltry 131/4 against Mumbai Indians in the first Qualifier of the Indian Premier League (IPL) 2019 at the M. A. Chidambaram Stadium here on Tuesday.
 
After losing their top order for just 65 runs, it was Dhoni and Rayudu who anchored the Chennai innings. However, a slow Chennai wicket didn't let the home side reach a challenging total against the three-time IPL champions.
 
For Mumbai, Rahul Chahar starred with the ball with figures of 2/14 from his four overs while Krunal Pandya and Jayant Yadav bagged a wicket each.
 
Opting to bat first, the defending champions got off to a slow start with just 6 runs on the scorecard in the first two overs before Chahar came up with the first breakthrough, dismissing Faf du Plessis (6 off 11) off the first ball of the third over.
 
Incoming batsman and Chennai's most dependable batsman Suresh Raina also couldn't do much as he departed cheaply after being caught and bowled by Yadav. Things worsened for the home side when Krunal packed back Shane Watson (10 off 13), with Chennai reeling at 32/3 in 6 overs.
 
Murli Vijay (26 off 26) and Rayudu then tried to put things back in order as they added 33 runs for the fourth wicket before the former became a victim of Chahar in the 13th over.
 
New batsman Dhoni then joined Rayudu in the middle and the duo denied Mumbai any further inroads as they shared a 66-run partnership to take Chennai to 131, thanks to a couple of lusty blows off Lasith Malinga by the Chennai skipper in the second last over.
 
Brief scores: Chennai Super Kings 131/4 (Ambati Rayudu 42 not out, MS Dhoni 37 not out; Rahul Chahar 2/14)
 
IANS
 

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Foot overbridges in Mumbai to go 'topless' for safety

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Roofs will be removed from all 21 foot overbridges (FOBs) across the two national highways crisscrossing Mumbai for public safety, a top civic agency official said here on Tuesday.
 
Mumbai Metropolitan Region Development Authority (MMRDA) Commissioner R. A. Rajeev said that after removing the rooftops, all the 21 FOBs would be strengthened and beautified to improve the local ambience.
 
"The roofs of FOBs look very shabby and also weaken the structure owing to their weight. There will also be no advertising boards on the FOBs. This will lighten the load and these FOBs would serve the pedestrians longer," he said on the rationale for the decision.
 
For aesthetic values, all the FOBs will be painted a uniform white-and-grey, and the entire program is expected to be completed in the next four months.
 
The decision came after several bridges/FOBs collapse incidents in Mumbai including the most recent one on March 14, when a FOB crashed outside the Chhatrapati Shivaji Maharaj Terminus, killing at least five people.
 
As a precautionary measure, Rajeev said that the MMRDA is already engaged in carrying out a structural audit of eight FOBs on Western Express Highway (WEH) and 13 on Eastern Express Highway (EEH) through the Veermata Jijabai Technological Institute (VJTI).
 
The MMRDA has also ordered speedy provision of various signages installed on the two highways and examining the structural stability of the signage gantries.
 
On the EEH, the FOBs are at Vikhroli (4), Thane (2), Ghatkopar (2), and one each in Kurla, Chembur, Kanjurmarg, Bhandup and Mulund, while on the WEH, the FOBs are Dahisar and Borivali (2 each), and one each at Kandivali, Malad, Goregaon and Jogeshwari.
 
On the likely protests by the people - since these FOBs offer shelter both during rains and from the blazing sun, official sources say that "small comforts may need to be compromised for larger public safety, since FOBs have been known for overcrowding especially in monsoons".
 
Rajeev assured that the MMRDA will undertake beautification of the media and spaces below the numerous flyovers on the two highway to "bring a happy and cheerful change" to the otherwise drab transport infrastructure.
 
IANS
 

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Sensex ends 324 points lower, Nifty below 11,500

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Dragged by dismal corporate earnings, caution amid the ongoing polls and emergence of fresh US-China trade tension, the key equity indices fell nearly 1 per cent on Tuesday.
 
Equities came under selling pressure post noon over selling in select stocks from institutions after they opened in the green alongside other Asian markets. The fear index or the "VIX" finished over 26 -- close to its 52-week high of 27.8.
 
The Sensex closed lower 323.71 points or 0.84 per cent at 38,276.63 and the Nifty finished 100.35 points or 0.87 per cent down at 11,497.90. Mid-caps ended 1.38 per cent lower and small-caps closed 1.16 per cent down, continuing to underperform.
 
Besides, Foreign Institutional Investors (FIIs) have turned sellers over the last two sessions. FIIs had sold Rs 948.98 crore worth of stocks on Monday after a healthy buying last month.
 
"Investor sentiments were impacted owing to uninspiring March quarter earnings which suggest a slowdown in the Indian economy and a possible delay in the much-awaited revival in earnings. Debt-laden stocks including Jet Airways, DHFL and Zee Entertainment, came under renewed selling pressure," said Deepak Jasani of HDFC Securities.
 
Bharti Airtel gave up the morning gains to end 3.10 per cent lower despite posting 29 per cent jump in PAT in Q4FY19. Zee Entertainment and Reliance Industries were the other two major losers.
 
Scrips of Zee Entertainment Enterprises witnessed a sharp fall by over 10 per cent on the BSE during the intra-day trade before closing 4.88 per cent lower.
 
IANS

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Ranveer to train with Kapil for 10 days in Delhi

Actor Ranveer Singh on the sets of his coming film
Actor Ranveer Singh on the sets of his coming film "83" at Himachal Pradesh Cricket Association Stadium, in Dharamshala, on April 9, 2019. (Photo: IANS)
Actor Ranveer Singh is set to make Delhi his home for the next 10 days. He will live with and train with Kapil Dev to pick nuances from the former Indian cricket captain for the film "'83".
 
Ranveer, who is known to immerse himself in serious preparation for his roles -- whether it be Alauddin Khilji in "Padmaavat" or Murad in "Gully Boy" -- is doing it no differently for "'83", which will tell the tale of India's victory in the 1983 Cricket World Cup.
 
For his role as Kapil Dev on screen in the Kabir Khan directorial, Ranveer has already trained a bit with the cricket icon. But he is now looking forward to "spending more time" with him.
 
"I'm looking forward to spending more time with Kapil sir. He is kind, generous, warm and funny. I had a memorable two days with him in Dharamsala. I'm going to spend more time with him in Delhi to learn more about him," the actor said in a statement.
 
"It's a first of its kind exercise in my acting process where I'll be studying the man himself in the flesh for my on-screen portrayal of him. I'm thrilled to have this opportunity to learn about life from a true legend," he added.
 
According to a source close to the film, which is presented by Reliance Entertainment, Ranveer has a set plan for his Delhi trip.
 
"He wants to see, live and breathe Kapil before he starts shooting."
 
IANS
 

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Equity indices open in green, Sensex up 170 points

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The key Indian equity indices opened on a positive note on Tuesday with the BSE Sensex trading over 170 points higher.
 
Healthy buying in metals, IT and FMCG stocks supported the gains.
 
At 9.32 a.m., the Sensex traded at 38,776.19, higher by 175.85 points or 0.46 per cent from the previous close 38,600.34 points.
 
It had opened at 38,815.46 and so far touched an intra-day high of 38,835.54 or low of 38,729.83 points.
 
The Nifty50 on the National Stock Exchange traded at 11,640.40, higher by 42.15 points or 0.36 per cent from its previous close of 11,598.25 points.
 
IANS
 
 
 
 

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MI sweep aside KKR, finish atop points table

 
Mumbai Indians (MI) finished atop the Indian Premier League (IPL) points table at the end of the group stage of the 12th edition of the cash-rich league with a commanding nine-wicket victory over a listless Kolkata Knight Riders (KKR) at the Wankhede Stadium here on Sunday.
 
Chasing a paltry 134 for victory, Mumbai were never in trouble as skipper Rohit Sharma led from the front with an unbeaten 55 off 48 deliveries, his innings laced with eight fours. It was Rohit's 36th IPL fifty, as Mumbai eased to 134/1 in just 16.1 overs. 
 
The three-time IPL champions, who finished in pole position with 18 points from 14 matches, will now take on second-placed Chennai Super Kings in the Qualifier 1 in Chennai on Tuesday.
 
Delhi Capitals and Sunrisers Hyderabad, the latter becoming the first team in the history of the competition to qualify for the playoffs with 12 points, will fight it out in the Eliminator in Visakhapatnam on Wednesday.
 
Asked to bat first, KKR had Robin Uthappa to blame for his laboured 40 off 47 balls, on a day Andre Russell failed to open his account.
 
For the home team, veteran Lasith Malinga snared three wickets with Hardik Pandya (2/20) and Jasprit Bumrah (2/31) also shining with the ball.
 
South Africa stumper-batsman Quinton de Kock (30; 23b, 4x1, 6x3) gave Mumbai a flying start before Dinesh Karthik took a stunning catch to get rid of him off Prasidh Krishna's bowling.
 
But there was no stopping Rohit with Suryakumar Yadav (46*, 27b, 4x5, 6x2) also playing a brilliant hand to smash a six off Russell in the 17th over and take the team home with 23 balls to spare.
 
The duo shared an unbroken 88-run partnership for the second wicket.
 
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Earlier, KKR paid the price for poor decision-making as Uthappa and Karthik (3) wasted a lot of deliveries in the middle overs while Russell, who was out for a first-ball duck, was not sent in to bat at No. 4 after Chris Lynn (41; 29b, 4x2, 6x4) had given them a steady start.
 
Uthappa played as many as 24 dot balls in his woeful knock of 40 (47b, 4x1, 6x3) before Rohit took his catch at cover off Bumrah in the last over.
 
Bumrah got another wicket in the very next ball, the last of the innings, as Hardik caught Rinku Singh for 4.
 
Besides Malinga, who leaked 35 runs in his four overs, Hardik also returned impressive figures of 2/20 in 3 overs while Bumrah ended with 2/31. Mitchell McClenaghan did not get a wicket but gave away just 19 runs from his four overs as the hosts capped a spectacular bowling display.
 
After managing just five runs off the first two overs, KKR raced to 49/0 in the Powerplay overs, largely due to Lynn who took on Malinga and Rahul Chahar to continue his good form with the bat.
 
But the introduction of Hardik did the damage as the World Cup-bound India all-rounder removed both the openers in quick succession with two brilliantly executed slower deliveries.
 
First Shubman Gill was trapped in front in the 7th over before Lynn holed out to wicketkeeper Quinton de Kock, trying to go for a big shot.
 
Uthappa and Karthik then failed to keep the momentum going as Russell watched from the dugout.
 
The pair mustered only six runs between overs 9 and 11 with Uthappa failing to connect a single delivery off McClenaghan in the 11th over which ended up being a maiden.
 
After scoring just nine runs off 21 balls, Uthappa finally found some relief when he hit Malinga for a six in the 13th over, the first boundary for KKR after 39 balls.
 
In the same over, Karthik, also struggling to get going, was caught by Krunal Pandya at mid-wicket. But the body blow came in the final ball of the over when Malinga set up Russell with a bouncer from around the wicket, which brushed his gloves on the way through to de Kock behind the stumps.
 
Nitish Rana played a 13-ball 26 cameo before Malinga had him caught by Keiron Pollard at long-off.
 
Brief scores: Kolkata Knight Riders: 133/7 in 20 overs (Chris Lynn 41, Robin Uthappa 40; Lasith Malinga 3/35, Hardik Pandya 2/20, Jasprit Bumrah 2/31); Mumbai Indians: 134/1 in 16.1 overs (Rohit Sharma 55 not out; Suryakumar Yadav 46 not out).
 
IANS
 

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Malinga leads show as MI restrict KKR to 133/7

 
Lasith Malinga snared three wickets as Mumbai Indians restricted Kolkata Knight Riders (KKR) to 133/7 in a crucial Indian Premier League clash at the Wankhede Stadium here on Sunday.
 
Asked to bat first, KKR paid the price for poor decision-making as Robin Uthappa and Dinesh Karthik (3) wasted a lot of deliveries in the middle overs while Andre Russell, who was out for a first-ball duck, was not sent in to bat at No 4 after Chris Lynn (41; 29b; 2x4 4x6) had given them a steady start.
 
Uthappa played as many as 24 dot balls in his woeful 40 off 47 balls (1x4, 3x6) before Mumbai skipper Rohit Sharma took his catch at cover off Jasprit Bumrah in the last over.
 
Bumrah got another wicket in the very next ball, the last of the innings as Hardik Pandya caught Rinku Singh (4).
 
Besides Malinga who leaked 35 runs in his four overs, Hardik also returned superb figures of 2/20 in three overs with Bumrah ending with 2/31. Mitchell McClenaghan did not get a wicket but gave away just 19 runs in his four overs as the hosts capped a spectacular bowling display.
 
After managing just five runs off the first two overs, KKR raced to 49/0 in the Powerplay overs, largely due to Chris Lynn who took on Malinga and Rahul Chahar to continue his good form with the bat.
 
But the introduction of Hardik Pandya did the damage as the World Cup-bound India allrounder removed both openers in quick succession with two brilliantly executed slower deliveries.
 
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First Gill was trapped in front in the 7th over and then Lynn holed out to wicketkeeper Quinton de Kock, trying to go for a big shot.
 
Uthappa and Karthik then failed to keep the momentum going as Russell watched on from the dugout
 
The pair mustered only six runs between overs 9-11 with Uthappa failing to connect any of McClenaghan's six balls in the 12th over which ended up being a maiden.
 
After scoring just nine runs off 21 balls, Uthappa finally found some relief by hitting Malinga for a six in the 13th over, the first boundary for KKR after 39 balls.
 
In the same over, Karthik, also struggling to get going, was caught by Krunal Pandya at midwicket. But the body blow came in the final ball of the over when Malinga set up Russell with with a bouncer from around the stumps, the ball brushing the gloves on the way through to de Kock behind the stumps.
 
Nitish Rana played a 13-ball 26 run cameo before Malinga had him caught at by Keiron Pollard at long off.
 
Brief scores: Kolkata Knight Riders: 133/7 in 20 overs (Chris Lynn 41, Robin Uthappa 40; Lasith Malinga 3/35, Hardik Pandya 2/20, Jasprit Bumrah 2/31)
 
IANS
 

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Mumbai Indians ask KKR to bat first

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Mumbai Indians skipper Rohit Sharma won the toss and asked Kolkata Knight Riders (KKR) to bat first in a crunch Indian Premier League (IPL) encounter at the Wankhede Stadium here on Sunday.
 
KKR, who must win this game in order to qualify for the playoffs, made one change to the team that won against Kings XI Punjab on Friday, bringing in Prasidh Krishna for Piyush Chawla.
 
Mumbai, for whom a victory would mean securing a top-two finish, made two changes with Mitchell McClenaghan and Ishan Kishan replacing Evin Lewis and Barinder Sran, respectively.
 
Playing XI
 
Mumbai Indians: Rohit Sharma(captain), Quinton de Kock (wicketkeeper), Ishan Kishan, Suryakumar Yadav, Hardik Pandya, Krunal Pandya, Kieron Pollard, Mitchell McClenaghan, Rahul Chahar, Jasprit Bumrah, Lasith Malinga.
 
Kolkata Knight Riders: Shubman Gill, Chris Lynn, Robin Uthappa, Andre Russell, Dinesh Karthik(captain/wicketkeeper), Nitish Rana, Sunil Narine, Rinku Singh, Harry Gurney, Sandeep Warrier, Prasidh Krishna.
 
IANS
 

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KKR's fate hangs in balance ahead of match against MI

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Kolkata Knight Riders' fate now depends on how Sunrisers Hyderabad fare against Royal Challengers Bangalore. Both sides are on 12 points but with SRH's net run rate being far superior to that of KKR, a win for them on Saturday would make it practically impossible for the latter to make it to the fourth spot.
 
But if RCB do manage to sink SRH, KKR have everything to play for when they face Mumbai Indians (MI) on Sunday. It is the last game of the group stage and a loss for the Knight Riders would mean that the Sunrisers make it to the playoffs anyhow. 
 
MI were swept aside by the belligerence of Andre Russell the last time the two sides met. The Jamaican all-rounder came in at number three and took his time to get settled in before unleashing himself in the death overs to propel KKR to a total of 232. MI lost the match by 34 runs. 
 
Teams:
 
Mumbai Indians: Rohit Sharma (C), Quinton de Kock (WK), Suryakumar Yadav, Yuvraj Singh, Kieron Pollard, Hardik Pandya, Krunal Pandya, Mitchell McClenaghan, Jason Behrendorff, Mayank Markande, Rahul Chahar, Jasprit Bumrah, Anmolpreet Singh, Siddhesh Lad, Ankul Roy, Evin Lewis, Pankaj Jaiswal, Ben Cutting, Ishan Kishan, Aditya Tare, Rasikh Salam, Barinder Sran, Jayant Yadav, Beuran Hendricks.
 
Kolkata Knight Riders: Dinesh Karthik (captain), Sunil Narine, Andre Russell, Carlos Brathwaite, Joe Denly, Lockie Ferguson, Chris Lynn, Robin Uthappa, Harry Gurnley, Kuldeep Yadav, Piyush Chawla, Nitish Rana, Sandeep Warrier, KC Cariappa, Shubman Gill, Rinku Singh, Shrikant Mundhe, Nikhil Naik, Anrich Nortje, Prithvi Raj, Prasidh Krishna.
 
IANS

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Sensex ends 18 pts down, TCS loses 3.70%

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Reversing early gains, the Sensex and Nifty ended lower on Friday, dragged by IT sector stocks. TCS fell the most on the BSE as the IT companies witnessed heavy selling pressure after leading US-based IT services company Cognizant revised down its revenue growth guidance.
 
Among the sectoral indices, the IT and FMCG sector stocks fell the most.
 
"Benchmark Nifty opened on a positive note and made a high of 11,766.75 in the first half of the session, but then it remained sideways. This positive start was due to fall in crude oil prices and strength in the Indian rupee which are positive factors for the Indian market," said Manish Yadav, Head of Research, CapitalAim.
 
The BSE Sensex closed 18.17 points lower or 0.05 per cent to 38,963.26 and the Nifty fell by 12.50 points or 0.11 per cent in the red at 11,712.25.
 
"Market started on a positive note supported by the strong rupee and fall in oil prices. However, gains are capped due to the premium valuation. While a fall in 10-year yield led the bank index to outperform," said Vinod Nair, Head of Research, Geojit Financial Services.
 
"Market is likely to stay range-bound due to weak global cues while better quarter results may provide an opportunity to accumulate."
 
Bharti Airtel gained the most on the BSE, followed by ICICI Bank, NTPC, Tata Motors(DVR) and Tata Motors.
 
Among the top losers were IT major TCS, declining per cent, followed by Hindustan Unilever, HCL Tech, Tata Steel and Infosys.
 
IANS
 

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R K Studios to bow out for residential, shopping complex

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The show will no longer go on at the iconic 71-year-old R K Studios. It will now make way for a swank residential complex-cum-shopping plaza through its new owner, realty major Godrej Properties Ltd., an official said here on Friday.
 
The GPL has purchased the 2.20 acres (roughly, 100,000 sq. feet) RK Studios premises in Chembur, north-east Mumbai -- founded in 1948 -- which were gutted in a major fire that engulfed it on September 16, 2017.
 
GPL, which has inked the deal for an undisclosed amount with the Bollywood's Kapoor clan -- plan to now convert it into a modern residential apartments complex and a luxury retail centre spread over a saleable area of around 350,000 sq. feet.
 
Leading realty players though point out that the current commercial property rates in and around Chembur are in the range of Rs 24,000-Rs 28,000 per sq. feet depending on the locality.
 
Executive Chairman of GPL, Pirojsha Godrej, said the deal fits with the company's strategy of deepening its presence in key locations across India's leading cities.
 
"We will seek to ensure we celebrate the remarkable legacy of this site with the goal of delivering an outstanding lifestyle for its residents," Godrej said.
 
Veteran Bollywood actor Randhir Kapoor, son of the founder of RK Stuidos, the legendary Raj Kapoor, said: "This property in Chembur, has been of tremendous significance to my family over the many decades that RK Studios has operated from there. We are excited to have chosen GPL to script a new chapter for this location and build upon its rich history."
 
Incidentally, the studio property sale deal comes barely eight months after late Raj Kapoor's widow, Krishna, passed away at the age of 87, on October 1, 2018.
 
Soon after the blaze, which also reduced to ashes precious memorabilia and costumes from the RK Films and Studios banner films over the past seven decades, the Kapoor family had expressed their inability to revive it or continue maintaining it.
 
The RK Studios was the shooting venue for some classics of RK Films like "Aag" (1948), "Barsaat" (1949), "Awaara" (1951), "Shree 420" (1955), "Jaagte Raho" (1956), "Anari" (1959), "Sangam" (1964), "Mera Naam Joker" (1970), "Bobby" (1973), "Satyam Shivam Sundaram" (1978) and many more.
 
Raj Kapoor passed away in June 1988 after which some of his incomplete films like "Ram Teri Ganga Maili" (1989) and "Henna" (1991) were also made here.
 
IANS

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Delta to launch non-stop service from Mumbai to New York from December 24

U.S. airline Delta today said it would begin flying non-stop from Mumbai to New York's John F. Kennedy International Airport from December 24, 2019. 
 
"This route establishes a new link between the financial capitals of two large trade partners and boosts competition, choice and options for customers traveling between India and the United States," a press release from Delta Air Lines said.
 
“Delta’s nonstop service between New York and Mumbai is the latest example of our international growth as we strive to connect the world better than any other airline,” said Ed Bastian, its chief executive officer.
 
Connecting through New York’s JFK, passengers will have access to more than 50 onward destinations throughout North America, Latin America and the Caribbean. Demand for flights between the U.S. and India has increased by 60 percent in the last decade, and New York is the largest U.S. market to India with the largest base of corporate customers, the release said.
 
“Delta’s return to India in time for the holiday season marks a milestone for the company,” said Roberto Ioriatti, Delta’s Vice President Transatlantic. “Our non-stop service is the fastest way for customers to travel between Mumbai and New York and thanks to the huge range on onward flights from our JFK hub, Delta is really opening up America for Indian-based business and leisure customers.”
 
Rajeev Jain, Chief Executive Officer, Mumbai International Airport Ltd said: “Flights between Mumbai and New York will provide most improved connectivity between the countries and will be extremely convenient for Indians travelling to and from the U.S.” 
 
The new service between Mumbai and New York-JFK will become Delta’s second-longest flight, and the airline will deploy its newly renovated Boeing 777-200LR aircraft on the route, featuring the Delta One Suite – an all-suite business class cabin – as well as the premium economy offering Delta Premium Select, in addition to Delta Comfort+ and Main Cabin options.
 
"Onboard, customers can enjoy a range of services, including free mobile messaging via WhatsApp, iMessage and Facebook Messenger thanks to the on-board wi-fi. Delta also offers on-demand in-flight entertainment, with movies from Bollywood and around the world available on seatback screens or to download to a mobile or tablet device. There are also amenity kits available in premium cabins plus pillows and blankets for increased comfort for Main Cabin customers and regional cuisine.
 
"Passengers in the Delta One cabin enjoy a private space accessed by a sliding door with personal stowage areas and fully-flat bed. They also have the ability to choose their main meal in advance of their flight so they may receive their first choice dish," the release said.
 
The flight will leave Mumbai at 1250 am and reach JFK at 6.35 am. On the return journey, it will leave New York at 9.15 pm and arrive in Mumbai at 10.50 pm the next day.
 
"Customers can today access New York and the rest of Delta’s U.S. network from Mumbai via its European hubs at Amsterdam, London Heathrow and Paris Charles de Gaulle through Delta’s partnerships with Air France, KLM and Virgin Atlantic.
 
"Delta has grown its presence in New York City by over 65 percent in the last 10 years and today operates more than 500 peak-day departures from its hubs at LaGuardia Airport and John F. Kennedy International Airport – including more than 200 daily departures from JFK, where Delta and its partners serve 43 international destinations in 32 countries," the release added.
 
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Key market indices open on flat note on Asian cues

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The key Indian equity indices opened on a flat note on Friday tracking a mixed trend in the Asian markets.
 
The indices, however, rose marginally within 15 minutes into the trade.
 
The BSE Sensex opened at 39,009.55 against the previous close of 38,981.43 points. At 9.28 a.m., it traded at 39,060.36, higher by 78.93 points or 0.20 per cent from its previous close.
 
It has so far touched an intra-day high of 39,077.28 and a low of 38,961.76 points
 
The Nifty50 on the National Stock Exchange had opened at 11,722.60, lower than its previous close of 11,724.75 points.
 
At 9.28 a.m., it traded marginally higher at 11,738.80, up 14.05 points or 0.12 per cent from its previous close.
 
IANS
 
 

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Mumbai in IPL playoffs after Super Over win vs SRH

 
In yet another nail-biting clash of the Indian Premier League (IPL), three-time champions Mumbai Indians held their nerves to become the third team to qualify for the playoffs after defeating Sunrisers Hyderabad in the Super Over at the Wankhede Stadium here on Thursday.
 
It was Manish Pandey's 'never give up' effort which helped Hyderabad, who were chasing a 163-run target, tie the score and take the contest to a Super Over. However, Hyderabad could only manage eight runs before Mumbai overhauled the target with ease and three balls to spare.
 
Earlier, Pandey's (71 unbeaten off 47) last-ball six denied Mumbai a thrilling win as his fighting knock along with Mohammed Nabi's valuable (31 off 20) effort helped Hyderabad level the score in the stipulated 20 overs.
 
Pandey, whose scintillating knock was laced with eight boundaries and couple of sixes, kept his side in the hunt as he kept one end intact despite Mumbai jolting the visitors at regular intervals in the first 15 overs.
 
Chasing the 163-run target, Hyderabad openers Wriddhiman Saha (25 off 15) and Martin Guptill (15 off 11) handed a fine start as the visitors raced away to 30 runs in the first three overs. Jasprit Bumrah came with the first breakthrough for Mumbai, sending back Saha in the fourth over.
 
Just when the hosts added another 17 runs, Bumrah struck again to account for the other Hyderabad opener in the sixth over, leaving them at 57/2. Krunal Pandya was then successful in making further inroads in the visiting batting line-up as he claimed Kane Williamson (3 off 7) soon, which reduced Hyderabad to 65/3.
 
Krunal struck again to dismiss Vijay Shankar (12) while his brother Hardik Pandya also joined the party, sending back Abhishek Sharma (2) cheaply, which left the visitors reeling at 105/5 in 14.3 overs.
 
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Despite the blows, Pandey kept his wicket safe and was later involved in a crucial 49-run partnership with Nabi. The duo not only prevented Mumbai from making any further onslaughts but also helped their side touch the 150-run mark in 19.3 overs.
 
Just when it seemed the duo would easily drive their side home, Hardik came with a twist in the tale as he sent back a good-looking Nabi with two balls left.
 
With eight needed of the final two deliveries, Pandey took a couple in the second last delivery before slamming Hardik for a maximum at long-on to keep the contest alive.
 
For Mumbai, Bumrah, Hardik and Krunal scalped couple of wickets each.
 
Earlier, opting to bat first, Mumbai rode opener Quinton de Kock's valiant knock of 69 (unbeaten) off 58 balls to post 162/5.
 
Despite getting little support from the other end, de Kock kept his cool and helped the three-time champions reach a respectable total. The opener's knock contained six boundaries and two hits into the stands.
 
Mumbai were off to a decent but cautious start with the scoreboard reading 26/0 in the initial three overs. While Rohit Sharma (24 off 18) clobbered Hyderabad bowlers, de Kock played second fiddle to the Mumbai captain.
 
Khaleel drew first blood for his side and sent back a dangerous looking Rohit in the sixth over, leaving Mumbai at 36/1. The Mumbai skipper played an overambitious pull shot on a delivery that bounced a bit more and popped up in the air only to be caught by Nabi at mid-on.
 
Incoming batsman Suryakumar Yadav (23 off 17) and de Kock then tried to repair the early damage, adding 54 runs for the second wicket. Just when the home side was approaching the three-digit mark, Khaleel struck again to break the partnership. He cut short Suryakumar's stay in the middle, reducing Mumbai to 90/2 in 11.2 overs.
 
Nabi spelled further trouble for Mumbai and just after the addition of a run, he packed back Evin Lewis (1 off 6) in the 13th over.
 
Hardik then played a quick 10-ball 18, with the help of a four and a six. But the Mumbai all-rounder failed to spend much time in the middle as Bhuvneshwar Kumar applied brakes on his innings in the 16th over, with Mumbai placed at 119/4.
 
Kieron Pollard (10 off 9) and de Kock then shared a short 32-run partnership for the fifth wicket, helping their side cross the 150-run mark in 18.5 overs. Pollard was dismissed in the final over by Khaleel before Krunal Pandya chipped in with an unbeaten 9 off three balls as Mumbai reached a fighting total.
 
For the visitors, Khaleel bagged three wickets for 42 runs and Bhuvneshwar and Nabi got one wicket each.
 
Brief scores: Mumbai Indians 162/5 (Quinton de Kock 69, Rohit Sharma 24; Khaleel Ahmed 3/42) beat Sunrisers Hyderabad 162/6 (Manish Pandey 71 not out, Mohammad Nabi 31; Hardik Pandya 2/20) in Super Over.
 
IANS
 

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ED chargesheets fugitive Islamic preacher Zakir Naik

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The Enforcement Directorate (ED) has filed charge sheet against fugitive Indian Islamic preacher Zakir Naik, accusing him of delivering "incriminating" speeches during the peace conferences organised by his Islamic Research Foundation (IRF) in Mumbai during 2007 and 2011, and charged him for money laundering of Rs 193.06 crore.
 
While filing the charge sheet, the ED requested the special court for punishment and confiscation of Naik's attached properties worth Rs 50.46 crore for involvement in money laundering. This is the second charge sheet against Naik, who fled India on July 1, 2016, and is currently living in Malaysia.
 
The attached properties belonging to Naik include investment in mutual funds, Islamic International School in Chennai, 10 residential flats, three godowns, two buildings and land in Pune and Mumbai, and 10 bank accounts worth Rs 50.46 crore.
 
"Proceeds of crime totalling Rs 193.06 crore have been quantified in the case. Other than these attachments, investigation in respect of investments of Zakir Naik in Dubai to ascertain and identify the properties outside the country is under progress," the ED said. 
 
The ED had initiated investigation based on the FIR registered by the National Investigation Agency (NIA) against Naik and his associates for his involvement in unlawful activities through his provocative utterances, thus promoting enmity and hatred between different religious groups in India. 
 
The NIA had filed a final charge sheet in the Special NIA Court in Mumbai on October 26, 2017.
 
"Investigations revealed that most of the incriminating speeches of Naik were delivered during the peace conferences organised by IRF in Mumbai during 2007-2011. The conferences were planned, organised, funded and promoted by the IRF and people of other religions were openly converted to Islam by Naik," the ED said.
 
The agency said that Naik's inflammatory speeches and lectures have inspired and incited a number of Muslim youths in India to commit unlawful activities and terrorist acts. 
 
"His thoughts created disharmony amongst various faiths and created hatred amongst people. The speeches and lectures were recorded in audio-visual format by Harmony Media Pvt Ltd, Mumbai and thereafter the recordings were edited by it for public viewing." 
 
Harmony Media forwarded the edited version to Global Broadcasting Corporation (GBC), Dubai and IRF International, UK for further broadcast on Peace TV across the globe, according to the Directorate.
 
"Further, master DVD of Naik's speeches were made for further replication and distributed to general public for maximum circulation."
 
During the investigation, the ED said, it learnt that IRF received Rs 64.86 crore during 2003-04 to 2016-17, mostly from various dubious and unknown sources. 
 
"Majority of the funds were utilised for organising peace conferences. Provocative speeches were made and religious conversion to Islam were propagated during these peace conferences." 
 
The IRF received donations in response to the appeals made by Naik during the course of his controversial speeches and thus these donations were proceeds of crime emanating from criminal activity, said the ED, adding that the money trail led to identification of one school building in Chennai valued at Rs 6.2 crore, mutual funds of Rs 9.41 crore and ground floor of a building in Mumbai, and these were provisionally attached. 
 
It also revealed that Rs 49.20 crore was received during 2012-2016 from Naik's accounts maintained in the United Arab Emirates (UAE) to his personal accounts in India. 
 
"Source of his income in UAE is not known. Naik transferred these funds to India and purchased properties in Mumbai and Pune by layering of funds in the name of his close relatives. He used the funds to the tune of Rs 17.65 crore for purchase of properties.
 
"In order to disguise the origin of funds and real ownership of properties, the initial payments made from Naik's accounts were diverted to the accounts of his wife, son and niece and re-routed again for the purpose of making bookings in the name of his family members."
 
It further said that several companies were established by Naik in the UK and India by placing his close confidants and relatives as directors to camouflage the diversion of funds received by him and his trust through his "illegal activities" of provocative speeches, and also for propagating hate speeches. 
 
Two persons -- Amir Gazdar and Najamuddin Sathak -- have also been arrested in connection with this case by the ED.
 
"Investigation has also revealed that Zakir Naik was also involved in suspicious unaccounted cash transactions. Further investigation is under progress."
 
IANS
 

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IPL: Quinton de Kock's 69 helps Mumbai post 162/5 vs Hyderabad

 
Mumbai Indians rode opener Quinton de Kock's valiant knock of 69 (unbeaten) off 58 balls to post 162/5 in 20 overs against Sunrisers Hyderabad (SRH) in their return fixture of the Indian Premier League (IPL) at the Wankhede Stadium, here on Thursday.
 
Despite getting little support from the other end, de Kock kept his cool and helped the three-time champions reach a respectable total. The opener's knock contained six boundaries and two hits into the stands.
 
Opting to bat, Mumbai were off to a decent but cautious start with scoreboard reading 26/0 in the initial three overs. While Rohit Sharma (24 off 18) clobbered Hyderabad bowlers, de Kock played second fiddle to the Mumbai captain.
 
Khaleel Ahmed drew first blood for his side and sent back a dangerous looking Rohit in the sixth over, leaving Mumbai at 36/1. The Mumbai skipper played an overambitious pull-shot on a delivery that bounced a bit more and popped up in the air only to be caught by Mohammed Nabi at mid-on.
 
Incoming batsman Suryakumar Yadav (23 off 17) and de Kock then tried to repair the early damage, adding 54 runs for the second wicket. Just when the home side were approaching the three-digit mark, Khaleel struck again to break the partnership. He cut short Suryakumar's stay in the middle, reducing Mumbai to 90/2 in 11.2 overs.
 
Nabi spelled further trouble for Mumbai and just after the addition of a run, he packed back Evin Lewis (1 off 6) in the 13th over.
 
Hardik Pandya then played a quick 10-ball 18, with the help of a four and a six. But the Mumbai all-rounder failed to spend much time in the middle as Bhuvneshwar Kumar applied the brakes on his innings in the 16th over, with Mumbai placed at 119/4.
 
Kieron Pollard (10 off 9) and de Kock then shared a short 32-run partneship for the fifth wicket, helping their side cross the 150-run mark in 18.5 overs. Pollard was dismissed in the final over by Khaleel before Krunal Pandya chipped in with an unbeaten 9 off three balls as Mumbai reached a fighting total.
 
For the visitors, Khaleel bagged three wickets for 42 runs and Bhuvneshwar and Nabi got one wicket each.
 
Brief scores: Mumbai Indians 162/5 (Quinton de Kock 69, Rohit Sharma 24; Khaleel Ahmed 3/42) vs Sunrisers Hyderabad.
 
IANS
 

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Wickets in England to assist batsmen during World Cup, feels Sachin

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Batting great Sachin Tendulkar reckons that the wickets in England and Wales, set to host the 2019 Cricket World Cup starting May 30, will assist batsmen and bowlers might struggle to swing the ball.
 
Sachin said the summer conditions, which will prevail during the showpiece event, will not help bowlers much and the pitches will behave in a similar way as during the 2017 Champions Trophy in England.
 
"I am told it's going to be a hot summer. Even during the Champions Trophy, the wickets were superb when the sun was out. In the heat, the wickets get really flat. I am sure they will give beautiful tracks to bat on," the 46-year-old said on the sidelines of the inauguration of the MIG Club pavilion named after him.
 
"I don't think there will be much difference in the conditions unless there is a heavy cloud cover. If there is a cloud cover, the ball might go around a bit. Even if that's the case, I don't see that happening for a longer duration, may be just in the initial overs," he said.
 
Sachin also felt as several Indian players, including captain Virat Kohli, M. S. Dhoni, Hardik Pandya and Shikhar Dhawan, are performing well in the ongoing Indian Premier League (IPL), it will help in boosting their confidence for the World Cup.
 
"A good performance in any format is good news because it gives the player confidence. If you are confident, that's important," he said.
 
"The players have time to make some adjustments according to the conditions. All of them have played enough cricket to know what to do to improve," Sachin remarked.
 
IANS
 

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IPL: Mumbai win toss, opt to bat against Hyderabad

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Mumbai Indians skipper Rohit Sharma won the toss and opted to bat against Sunrisers Hyderabad in their return fixture of the Indian Premier League (IPL) at the Wankhede Stadium, here on Thursday.
 
While the hosts has kept the team unchanged, the visitors made two changes in their team as Martin Guptill and Basil Thampi came in for David Warner and Sandeep Sharma.
 
Playing XI:
 
Mumbai Indians: Quinton de Kock (wicket-keeper), Rohit Sharma (Captain), Evin Lewis, Suryakumar Yadav, Kieron Pollard, Hardik Pandya, Krunal Pandya, Barinder Sran, Rahul Chahar, Jasprit Bumrah and Lasith Malinga
 
Sunrisers Hyderabad: Wriddhiman Saha (wicket-keeper), Martin Guptill, Manish Pandey, Kane Williamson (Captain), Mohammad Nabi, Vijay Shankar, Rashid Khan, Abhishek Sharma, Bhuvneshwar Kumar, K Khaleel Ahmed and Basil Thampi
 
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Sensex ends below 39k, India VIX 5% up

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The Sensex closed below the 39,000 mark on Thursday, marked by heavy volatility in specific stocks. The fear-index or the 'VIX' surged over 5 per cent.
 
Analysts said the volatility was also high owing to the mixed quarter earnings and tepid auto sales.
 
The Sensex ended 50.12 points or 0.13 per cent lower at 38,981.4 and the Nifty finished -23.40 points or 0.20 per cent lower at 11,724.75.
 
Export-oriented IT and pharmaceutical stocks also finished lower as the rupee gained against the US dollar. The rupee closed at Rs 69.36 gaining over 20 paise from its previous close of 69.56.
 
"The Fed's decision to keep the interest rate unchanged was pro-growth. The Indian markets were volatile and closed lower owing to the domestic factors. Investors are nervous due to heavy stock-specific volatility in scrips like Jet, DHFL etc.." said Saurabh Jain of SMC Global.A
 
Tata Motors fell 3.3 per cent after reporting a 28 per cent fall in its passenger vehicle sales in April 2019. Jet Airways fell 12.5 per cent after a media report said there was no followup interest shown by bidders for the struggling airline on their offers, said Deepak Jasani of HDFC Securities.
 
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Indian equity markets open flat as US keeps interest rates on hold

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Taking a cue from global markets, the key Indian equity market indices on Thursday opened flat after the US Federal Reserve kept interest rates on hold.
 
The Sensitive Index (Sensex) of the BSE, which had closed at 39,031.55 on Tuesday, opened higher at 39,036.51. Minutes into trading, it was quoting at 38,971.79, down by 59.76 points, or 0.15 per cent.
 
At the National Stock Exchange (NSE), the broader Nifty 50, which had closed at 11,748.15 on Tuesday, was quoting at 11,728.40, down by 19.75 points or 0.17 per cent.
 
The markets remained closed on Wednesday on account of Maharashtra Day.
 
As many as 19 stocks advanced in the Nifty 50 index while 31 stocks declined. In the BSE Sensex 19 stocks including TCS, Tata Steel were trading in red while 11 stocks including ONGC, ITC, Coal India were trading in green at 9.21 a.m.
 
On Tuesday, both the indices had closed on a flat-to-negative note amid weak global cues. 
 
The Sensex was down by 35.78 points or 0.09 per cent at the Tuesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 39,105.88 and a low of 38,753.46. The Nifty, too was down by 6.5 points or 0.06 per cent.
 
On Thursday, Asian indices were showing mostly a mixed trend. Hang Seng was up by 0.59 per cent while South Korea's Kospi was also up by 0.45 per cent. SGX Nifty was trading in red, down by 0.64 per cent.
 
Overnight, Nasdaq closed in the red, down by 0.57 per cent while FTSE was also down by 0.44 per cent at the closing on Wednesday.
 
IANS
 

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Sensex closes 35 points lower, Yes Bank tanks 30%

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After a volatile trade session on Tuesday, Sensex and Nifty finished on a flat-to-negative note amid weak global cues as China reported a weaker than expected factory data and investors awaited the US Fed policy decision, due on Wednesday.
 
The BSE Sensex fell 35.78 points, 0.09 per cent lower to 39,031.55, and the broader Nifty closed 6.50 points or 0.06 per cent lower.
 
"A fresh round of panic gripped banks and finance company stocks as Yes Bank delivered a large loss for Q4 over the weekend... Participants wondered as to what would be the trickle-down effects of these developments on other finance companies, equity markets, debt mutual funds and general liquidity available in the markets," said Deepak Jasani of HDFC Securities.
 
The PSU Bank Nifty index fell the most on the NSE, closing 3.34 per cent lower. Syndicate Bank fell the most, closing over 7 per cent lower and the Central Bank, Union Bank, Bank of Baroda, Allahabad Bank and Canara Bank fell over 5 per cent.
 
"Stocks such as Yes Bank, Hero Motocorp reacted to results, while realty shares suffered on fears of liquidity drying up for them and PSU banks came under selling pressure on fears of fresh slippages occurring due to the issues faced by NBFCs and some other corporate groups," Jasani added.
 
Yes Bank finished nearly 30 per cent on the BSE after the private lender reported its first ever loss, for the fourth quarter, on account of a spike in bad loans.
 
With no resolution to its problems in sight, Jet Airways continued to fall on Tuesday, and closed 8.4 per cent lower.
 
"IT index was buzzing throughout the day and it played a vital role in defending key supports for the benchmark index. Apart from this, metal stocks witnessed a good buying interest from lower levels and hence, we expect some catch-up moves in other counters to the marquee name Tata Steel," Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.
 
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