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Indian equities react to weak Chinese factory data

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The key equity indices opened on a dull note on Tuesday taking cues from the Asian markets which fell after China reported weaker than expected manufacturing data.
 
Besides, the markets also awaited the US Fed policy decision, due Wednesday.
 
The Sensex of the BSE opened at 39,056.92 from its previous close at 39,067.33 on Friday. At 9.18 a.m., the Sensex traded at 39,039.36, lower by 27.97 points or 0.07 per cent.
 
The stock market was shut on Monday on account of polls in Mumbai.
 
The Nifty of the National Stock Exchange (NSE) which closed at 11,754.65 on Friday, opened at 11,748.75 on Tuesday. IT traded at 11,728.70 during the morning trade session, down 25.95 points and 0.22 per cent.
 
On Friday, Foreign Institutional Investors (FIIs) who have played a key role in pushing markets to fresh highs, sold Rs 70.73 crore worth of stocks while the Domestic Institutional Investors (DIIs) off-loaded scrips valued Rs 920.88 crore.
 
The Indian stock markets will again remain closed on Wednesday, on account of Maharashtra Day.
 
IANS
 

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SpiceJet aircraft overshoots runway at Shirdi airport

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An aircraft of budget airline SpiceJet operating on the Delhi-Shirdi route, overshot the runway while landing at the Shirdi airport on Monday.
 
According to the airline, no harm was caused to either the passengers or the crew.
 
"On 29 April 2019, SpiceJet B737-800 aircraft operated SG 946 from Delhi to Shirdi. While landing at Shirdi, the aircraft overshot the runway. Passengers and crew are safe and are being deplaned normally," the airline said in a statement.
 
IANS
 
 
 
 

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KKR stay alive with 34-run win over MI as Hardik blitzkrieg goes in vain

 
Kolkata Knight Riders (KKR) kept their playoff hopes alive with a 34-run win over old nemesis Mumbai Indians (MI) despite Hardik Pandya's fireworks in an Indian Premier League (IPL) clash at the Eden Gardens here on Sunday.
 
Put in to bat first, KKR rode on Andre Russell's 40-ball 80 not out and half-centuries by Shubman Gill (76; 45 balls, 4x6, 6x4) and Chris Lynn (54; 29 balls, 4x8, 6x2) to post 232/2 in  their 20 overs, this season's highest total.
 
In reply, Hardik Pandya was the sole shining light for MI with a swashbuckling 91 off 34 balls (4x6, 6x9), his highest score in this format, as Mumbai managed 198/7 in 20 overs.
 
The visitors, who had not lost to KKR in their last eight meetings, were reduced to 58/4 inside nine overs with Quinton de Kock (0), Rohit Sharma (12), Evin Lewis and Surya Kumar Yadav (26) back in the hut.
 
Pandya then put on a show to bring up his fastest fifty off just 17 deliveries. The 25-year old World Cup-bound all-rounder stitched a 63-run stand off 30 balls with Keiron Pollard (20) for the fifth wicket and then added another 64 runs in quick time with brother Krunal (24) before holing out to Russell at wide long-on off Harry Gurney.
 
For the home team, Russell was the pick of the bowlers returning figures of 2/25. Sunil Narine (2/44) and Harry Gurney (2/37) also picked up two wickets apiece.
 
This was KKR's first win over Mumbai since April 8, 2015, a result which kept Rohit and Co. waiting for a place in the playoffs with two games remaining.
 
Needing a victory to even dream of a berth in the playoffs, KKR were off to a flying start riding on Lynn and Gill's 96-run opening stand which came off 57 balls. Gill's chanceless knock was also his highest T20 score.
 
After Lynn's dismissal in the 10th over, Russell made the most of a reprieve -- he was dropped on 1 by Evin Lewis -- to remain unbeaten and blast his highest score this season with the help of six fours and eight sixes, including one off the last ball of the innings.
 
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Russell shared a 62-run stand for the second wicket with Gill off 35 balls and then combined with skipper Karthik (15 not out) for an unbroken 74-run partnership which came off just 29 deliveries.
 
In the last three overs, Russell made mincemeat of Mumbai's famed bowlers Hardik, Jasrpit Bumrah and Lasith Malinga, taking 20, 15 and 20 runs off them, respectively, as the hosts plundered 55 runs in that period.
 
KKR were in business from the word go with Gill taking Barinder Sran for 14 runs in the first over of the innings, carting him for two fours and a six.
 
Lynn -- who was dropped on 18 by Keiron Pollard -- took time to get in, scoring two runs off the first seven balls before switching gears.
 
The Australian hit a boundary in every over after that before notching up his fourth fifty of the season in 28 balls.
 
Leg-spinner Rahul Chahar finally broke the partnership as Lynn holed out to Evin Lewis running in from deep mid-wicket in the 10th over as the KKR scoreboard read 97/1 at the halfway stage.
 
In came Russell, and for a while the Caribbean powerhouse played second fiddle to Gill, who was in full flow as he brought up his second fifty of the season off 32 balls.
 
Russell smashed his first six in the 13th ball of his innings, hitting Chahar for two back-to-back maximums in the 14th over.
 
Gill was removed by Hardik in the 16th over, with Lewis taking his catch at deep mid-wicket.
 
The damage was half done by then and with Russell soon breaking free, the Mumbai bowlers were taken to the cleaners as the hosts went on to pile up a mammoth total.
 
Brief scores
 
Kolkata Knight Riders: 232/2 in 20 overs (Andre Russell 80 not out, Shubman Gill 76, Chris Lynn 54; Hardik Pandya 1/31) beat Mumbai Indians: 198/7 in 20 overs (Hardik Pandya 91; Sunil Narine 2/44, Harry Gurney 2/37) by 34 runs.
 
IANS

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Russell blitzkrieg helps KKR post 232/2 against MI

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Promoted to No. 3 for the first time this season, Andre Russell bludgeoned a typically whirlwind 80* while Shubman Gill and Chris Lynn also slammed half-centuries to help Kolkata Knight Riders post an imposing 232/2 -- the highest total in this year's Indian Premier League (IPL) -- against Mumbai Indians at the Eden Gardens here on Sunday.
 
Needing a victory to even dream of a berth in the playoffs, KKR were off to a flying start riding on Lynn (54; 29 balls, 4x8, 6x2) and Gill's (76; 45 balls, 4x6, 6x4) 96-run opening stand which came off just 57 deliveries. Gill's chanceless knock was also his highest T20 score.
 
After Lynn's dismissal in the 10th over, Russell made the most of a reprieve -- he was dropped on 1 by Evin Lewis -- to remain unbeaten and blast his highest score this season off just 40 balls with the help of six fours and eight sixes.
 
Russell shared a 62-run stand for the second wicket with Gill off 35 balls and then combined with skipper Dinesh Karthik (15 not out) for an unbroken 74-run partnership which came off just 29 deliveries.
 
In the last three overs, Russell made mincemeat of Mumbai's famed bowlers Hardik Pandya, Jasrpit Bumrah and Lasith Malinga, taking 20, 15 and 20 runs off them, respectively, as the hosts plundered 55 runs in that period.
 
Barinder Sran -- playing his first game of the season in place of Anukul Roy -- was taken for 14 runs in the first over of the innings with Gill carting him for two fours and a six.
 
Lynn -- who was dropped on 18 by Keiron Pollard -- took time to get in, scoring two runs off the first seven balls before switching gears. The Australian hit a boundary in every over after that before notching up his fourth fifty of the season in 28 balls.
 
Leg-spinner Rahul Chahar finally broke the partnership as Lynn holed out to Evin Lewis running in from deep mid-wicket in the 10th over as the KKR scoreboard read 97/1 at the halfway stage.
 
In came Russell, and for a while the Caribbean powerhouse played second fiddle to Gill, who was in full flow as he brought up his second fifty of the season off 32 balls.
 
Russell smashed his first six in the 13th ball of his innings, hitting Chahar for two back-to-back maximums in the 14th over.
 
Gill was removed by Hardik in the 16th over, with Lewis taking his catch at deep mid-wicket.
 
The damage was half done by then and with Russell soon breaking free, the Mumbai bowlers were taken to the cleaners as the hosts went on to pile up a mammoth total.
 
Brief scores
 
Kolkata Knight Riders: 232/2 in 20 overs (Andre Russell 80 not out, Shubman Gill 76, Chris Lynn 54; Hardik Pandya 1/31) vs Mumbai Indians
 
IANS

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Malinga's 4/37 guides Mumbai to 46-run win over CSK

 
Chennai Super Kings (CSK) once again missed the presence of their regular skipper M. S. Dhoni as the defending champions had to taste a 46-run defeat against Mumbai Indians in their return fixture at the M. A. Chidambaram Stadium, here on Friday.
 
It was the Mumbai bowlers who came all guns blazing on a slow wicket to wrap up the home side, who were chasing a modest 156-run target, on a paltry 109 runs. Lasith Malinga starred for the visitors with figures of 4/37, while Krunal Pandya and Hardik Pandya bagged a couple of wickets each.
 
Chennai opener Murli Vijay was the only one to show some resistance as he managed to contribute a 35-ball 38.
 
Mumbai had also defeated Chennai by 37 runs in their last encounter earlier this season in Mumbai.
 
Chasing the target, Chennai were off to a worst-possible start as Malinga dismissed opener Shane Watson (8) before Hardik Pandya struck to send back Suresh Raina (2), reducing the yellow brigade to 22/2 in 3.1 overs.
 
Vijay tried his best to repair the major damages but lacked support from the other end as incoming batsman Ambati Rayudu also departed without opening his account. Krunal accounted for the wicket of the Chennai stumper.
 
Chennai's middle-order also fell like a pack of cards as they lost Kedar Jadhav (6) and Dhruv Shorey (5) cheaply. Things turned ugly for the hosts when Bumrah picked Vijay in the 12th over, leaving Chennai reeling at 66/6. Suryakumar Yadav took a stunning catch of Vijay at backward point off a Bumrah delivery. 
 
Dwayne Bravo (20 off 17) and Mitchell Santner (22 off 20) were involved in a short 33-run partnership for the seventh wicket and kept Chennai's slim hope of winning alive. However, Malinga broke the partnership as the Sri Lankan pacer's slower delivery took a leading edge off Bravo's bat and the pacer moved a couple of steps backwards to take an easy catch.
 
The Mumbai bowlers then rattled the lower middle-order with ease as Deepak Chahar (0) and Harbhajan Singh (1) also failed to bring any relief. Malinga put the final nail in the coffin after picking Santner in the 18th over to set up a comfortable victory for Mumbai.
 
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Earlier, some disciplined bowling by Chennai restricted Mumbai to a modest 155/4 as Rohit Sharma contributed a 48-ball 67.
 
Rohit and Evin Lewis (32 off 30) were involved in a 75-run partnership for the second wicket and at one stage it looked as if the visitors will amass a massive total. However, after the fall of Lewis, the Chennai bowlers bowled economically and picked up wickets at regular intervals to deny Mumbai a big total.
 
For Chennai, Santner was the pick of the bowlers as he impressed with figures of 2/13 from his four overs, while Deepak -- the only Chennai bowler to leak runs -- and Tahir picked a wicket each.
 
Deepak conceded 46 runs from his four overs.
 
Put into bat, Deepak came up with an early breakthrough as he packed back an in-form Quinton de Kock (15) with Mumbai at 24 runs in 2.4 overs. While trying to go for the maximum, de Kock misread Deepak's slower delivery and a top-edge off his bat went up in the air and Rayudu took the catch with ease.
 
Lewis and Rohit then tried to repair the damage and took their side past the 50-run mark in 6.5 overs. They then steadily propelled Mumbai near the three-digit mark before Santner dismissed Lewis, with Mumbai scorecard reading 99/2.
 
Tahir further jolted the visitors as he sent back incoming batsman Krunal (1) cheaply, reducing Mumbai to 101/3.
 
After the addition of 21 runs in the visitor's score, Santner struck again to pick up the crucial wicket of a well-settled Rohit Sharma in the 17th over. Rohit's knock contained six boundaries and three hits into the stands.
 
Hardik Pandya (23 unbeaten off 18) and Keiron Pollard (13 unbeaten off 12) then added 33 runs in the remaining 22 balls as Mumbai reached a fighting total.
 
Brief scores
Mumbai Indians -- 155/4 (Rohit Sharma 67, Evin Lewis 32; Mitchell Santner 2/13) -- beat Chennai Super Kings -- 109 all out in 17.4 overs (Murli Vijay 38, Mitchell Santner 22; Lasith Malinga 4/37) -- by 46 runs.
 
IANS
 

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IPL: Rohit's 67 helps Mumbai post 155/4 vs Chennai

 
Some disciplined bowling by Chennai Super Kings (CSK) restricted Mumbai Indians to a modest 155/4 as Rohit Sharma contributed with a 48-ball 67 in an Indian Premier League (IPL) contest at the M. A. Chidambaram Stadium here on Friday.
 
Rohit and Evin Lewis (32 off 30) were involved in a 75-run partnership for the second wicket and at one stage it looked as if the visitors will reach a massive total. However, after the fall of Lewis, the Chennai bowlers bowled economically and picked up wickets at regular intervals to deny Mumbai a big total.
 
For Chennai, Mitchell Santner was the pick of the bowlers as he impressed with figures of 2/13 from his four overs while Deepak Chahar, who was the only Chennai bowler to leak runs, and Imran Tahir picked a wicket each.
 
Chahar conceded 46 runs from his four overs.
 
After Mumbai were put in to bat first, Chahar came up with an early breakthrough as he packed back the in-form Quinton de Kock (15) with Mumbai at 24 runs in 2.4 overs. While trying to go for the maximum, de Kock misread Chahar's slower delivery and a top edge off his bat went up in the air and Ambati Rayudu took the catch with ease.
 
Lewis and Rohit then tried to repair the damage and took their side past the 50-run mark in 6.5 overs. They then steadily propelled Mumbai near the three-digit mark before Santner dismissed Lewis with Mumbai's scorecard reading 99/2.
 
Tahir further jolted the visitors as he sent back Krunal Pandya (1) cheaply, reducing Mumbai to 101/3.
 
After the addition of 21 runs to the visitor's score, Santner struck again to pick up the crucial wicket of a well-settled Rohit Sharma in the 17th over. Rohit's knock contained six boundaries and three hits into the stands.
 
Hardik Pandya (23 unbeaten off 18) and Keiron Pollard (13 unbeaten off 12) then added 33 runs in the remaining 22 balls as Mumbai reached a fighting total.
 
Brief scores: Mumbai Indians 155/4 (Rohit Sharma 67, Evin Lewis 32; Mitchell Santner 2/13) vs Chennai Super Kings
 
IANS

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IPL: Chennai opt to field first against Mumbai

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Chennai Super Kings stand-in skipper Suresh Raina won the toss and opted to field first against Mumbai Indians in their return fixture of the Indian Premier League (IPL) at the M. A. Chidambaram Stadium here on Friday.
 
Chennai has made three changes in their team as M S Dhoni, Ravindra Jadeja and Faf du Plessis have been replaced by Mitchell Santner, Dhruv Shorey and Murali Vijay.
 
On the other hand, Evin Lewis and Anukul Roy, who is making his IPL debut, came in for Ben Cutting and Mayank Markande in the Mumbai playing eleven.
 
Playing XI:
 
Chennai Super Kings: Murli Vijay, Shane Watson, Suresh Raina (Captain), Kedar Jadhav, Ambati Rayudu (wicket-keeper), Dhruv Shorey, Mitchell Santner, Dwayne Bravo, Deepak Chahar, Harbhajan Singh, Imran Tahir
 
Mumbai Indians: Rohit Sharma (Captain), Quinton de Kock (wicket-keeper), Evin Lewis, Kieron Pollard, Hardik Pandya, Krunal Pandya, Suryakumar Yadav, Rahul Chahar, Anukul Roy, Jasprit Bumrah, Lasith Malinga
 
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RBI introduces Rs. 20 banknote in Mahatma Gandhi (New) Series

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The Reserve Bank of India (RBI) today said it would shortly issue Rs. 20 denomination banknotes in the Mahatma Gandhi (New) Series, bearing the signature of its Governor Shaktikanta Das.
 
The new denomination has the motif of Ellora Caves on the reverse. The base colour of the note is greenish yellow. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse, a press release from the central bank said.
 
All the banknotes in the denomination of Rs. 20 issued by the Reserve Bank in the earlier series will continue to be legal tender, it said.
 
The image and salient features of Rs. 20 denomination banknote in the Mahatma Gandhi (New)
Series are as under:
i. Image
Obverse (Front)
Reverse (Back)
ii. Salient Features
Obverse (Front)
1. See through register with denominational numeral 20
2. Denominational numeral 20 in Devnagari
3. Portrait of Mahatma Gandhi at the centre
4. Micro letters 'RBI', 'Bharat' (in Devnagari), ‘INDIA' and '20'
5. Windowed demetalised security thread with inscriptions ‘Bharat’ (in Devnagari) and RBI
6. Guarantee Clause, Governor's signature with Promise Clause and RBI emblem towards right of Mahatma Gandhi portrait
7. Ashoka Pillar emblem on the right
8. Mahatma Gandhi portrait and electrotype (20) watermarks
9. Number panel with numerals growing from small to big on the top left side and bottom right side.
Reverse (Back)
10. Year of printing of the note on the left
11. Swachh Bharat logo with slogan
12. Language panel
13. Motif of Ellora Caves
14. Denominational numeral 20 in Devnagari.
 
The dimensions of the banknote will be 63 mm x 129 mm, the release added.
 
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India’s forex reserves decline by $ 739.2 million to $ 414.147 billion

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Reversing a nine-week uptrend, India’s foreign exchange reserves declined by $ 739.2 million to $ 414.147 billion during the week ended April 19, the Reserve Bank of India (RBI) said here today.
 
The country’s forex reserves had gone up by $ 1.105 billion to $ 414.886 billion during the previous week.
 
In its weekly statistical supplement issued here today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone down by $ 728.6 million to $ 386.034 billion during the week.
 
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
 
According to the bulletin, the country’s gold reserves remained unchanged at $ 23.303 billion, while its special drawing rights (SDRs) went down by $ 3.2 million to $ 1.4556 billion.
 
India’s reserve position in the International Monetary Fund (IMF) decreased by $ 7.4 million to $ 3.3546 billion, the bulletin added.
 
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Sensex closes 336 points up as Brent retreats

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The Sensex advanced 336 points on Friday as the Brent crude -- the global oil benchmark -- retreated to $72 a barrel. The Brent had crossed the $75-mark on Thursday for the first time since the US decided to end sanctions waivers that allowed India to continue buying Iranian crude.
 
Analysts said that oil prices eased over expectations that oil-producing cartel OPEC could soon raise output to make up for a shortfall in exports from Iran in view of the US sanctions.
 
In line with the equities, the rupee was also aided by the easing oil prices, gaining nearly 25 paise against the US dollar during the day's trade.
 
Despite the overall upbeat mood, the Nifty Auto index fell over 1 per cent, most among the sectoral indices. Only three out of the 15 companies constituting the index could finish in the green.
 
However, most of the gains came during the last hours of trade. The BSE Sensex jumped 336.47 points or 0.87 per cent to 39,067.33. The Nifty surged 112.85 points or 0.97 per cent to 11,754.65.
 
"Falling crude prices and rising rupee helped sentiments on the street. Chinese stocks fell on Friday, posting their sharpest weekly fall since October 2018, as investors feared that China may not continue its stimulus measures amid signs of economic stabilisation," said Deepak Jasani of HDFC Securities.
 
"The US-China trade issues that are taking longer than expected to be resolved also weighed on sentiments," Jasani added.
 
Tata Steel led the gains on the Sensex, surging over 6 per cent, followed by ICICI Bank, Axis Bank, TCS and State Bank of India.
 
The laggards were Tata Motors(DVR), Tata Motors, Maruti Suzuki, Bharti Airtel, Bajaj-Auto and Mahindra and Mahindra, falling up to 3.72 per cent.
 
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Two injured in explosion and fire at Tata Steel Europe’s Port Talbot Plant in UK

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Two employees suffered minor injuries in an explosion and fire that was caused by spillage of hot metal at Tata Steel Europe's Port Talbot Plant in the United Kingdom early this morning, the company said.
 
In a statement here, Tata Steel said the incident occurred at 0337 hours today (UK time).
 
"All emergency services immediately swung into action. All fires have now been extinguished.
 
"Two of our employees sustained minor injuries and all employees have been accounted for.
 
"All the necessary assistance and medical care is being provided to ensure quick recovery.
 
"Investigations are underway to assess the damage and the potential impact," the statement added.
 
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Sensex opens in green on cooling oil rates

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The Sensex opened over 100 points higher on Friday over a strong inflow of foreign funds and slight ease in the international oil prices.
 
The Brent, benchmark oil price, which crossed the $75-a-barrel mark on Thursday for the first time in 2019 was trading at $74.14 a barrel.
 
Except for the auto sector stocks, all other sectoral stocks on the NSE witnessed healthy buying. 
 
The BSE Sensex opened at 38,865.83, slightly higher from its previous close of 38,730.86. 
 
At 9.16 a.m., the Sensex was up 128.03 points or 0.33 per cent at 38,858.89. 
 
The broader Nifty traded 51.95 points or 0.45 per cent higher at 11,693.75 points. It opened at 11,683.75 from its previous close of 11,641.80.
 
On Thursday, Foreign Institutional Investors (FIIs) bought stocks worth Rs 3,785.73 crore while the Domestic Institutional Investors (DIIs) sold stocks worth Rs 4,069.98 crore.
 
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'Avengers: Endgame' sells over 2.5 million tickets in advance sales

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Ahead of its release on Friday, Hollywood superhero film "Avengers: Endgame" has sold over 2.5 million tickets in advance sales on BookMyShow, an Indian entertainment destination.
 
This marks the highest ever advance ticket sales for a Hollywood film on the platform. "Avengers: Endgame" is also the fastest film to have surpassed the two million advance ticket sales mark on BookMyShow, read a statement.
 
"With just a few hours left for 'Avengers: Endgame' to hit the screens, the frenzy around the film is unprecedented. The cinemas are doing everything possible to match fans' demand for the film, including round-the-clock screenings as also opening up advance bookings for the entire week ahead," Ashish Saksena, COO - Cinemas, BookMyShow, said in a statement.
 
"This has enabled BookMyShow to offer several more options to Marvel-lovers and cater to their excitement."
 
Starring Robert Downey Jr., Chris Evans, Mark Ruffalo, Chris Hemsworth, Scarlett Johansson and Brie Larson, amongst others, "Avengers: Endgame" is the 22nd film from the Marvel Cinematic Universe. 
 
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Sensex tanks as Brent tops $75, PSUs fall

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The key equity indices fell sharply on Thursday with the Brent, the global oil benchmark, crossing the $75 a barrel mark for the first time in 2019 and due to weak Chinese markets.
 
Sentiments also took a hit as the rupee lost nearly 40 paise against the dollar during the day.
 
Uncertainty due to the ongoing general elections and rising oil prices shot the 'VIX' up to 25.53 on Thursday. 
 
VIX or the 'fear gauge' - the measure of market's expectation of volatility - was marginally below the three-year peak of 26.31, indicating poor investment sentiments.
 
Among the sectoral indices, the PSU Bank Nifty fell the most. Bank stocks came under pressure on derivative expiry day as lesser long positions seemed to be rolled over, analysts noted.
 
Weakness during Thursday's trade came on the back of negative global cues. 
 
"Chinese stock market dropped to its lowest in more than three weeks, disappointed by the central bank's attempts to lower market expectations for more policy easing and concerns over economic recovery prospects," Deepak Jasani of HDFC Securities added. 
 
The BSE Sensex declined 323.82 points or 0.83 per cent at 38,730.86 and the broader Nifty fell by 84.35 or 0.72 per cent at 11,641.80.
 
Maruti Suzuki, which announced its Q4 results, fell by 1.73 per cent to RS 6,902.95 apiece on the BSE. 
 
The shares of the country's largest cement clinker exporter, Ultra Tech Cement, hit an all-time high after healthy Q4, advancing over 5 per cent on the National Stock Exchange.
 
"Market failed to maintain the opening gains due to a surge in oil prices and concern on a slowdown in Chinese central bank's stimulus packages. Consolidation was broad-based with PSU banks and metals under-performing," said Vinod Nair, Head of Research, Geojit Financial Services. 
 
"The sentiment was further impacted due to a rise in India's 10-year yield and depreciation in rupee."
 
IANS
 

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Key Indian equity market indices open in green

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Despite a muted trend in global markets, the key Indian equity market indices on Thursday opened higher ahead of F&O expiry.
 
The Sensitive Index (Sensex) of the BSE, which had closed at 39,054.68 points on Wednesday, opened higher at 39,101.78 points. But minutes into trading, it was quoting at 39,014.53 points, down by 40.15 points, or 0.10 per cent.
 
At the National Stock Exchange (NSE), the broader Nifty 50, which had closed at 11,726.15 points on Wednesday, was quoting at 11,719.70 points, down by 6.45 points or 0.06 per cent.
 
As many as 21 stocks advanced in the Nifty 50 index while 29 stocks declined. In BSE Sensex 16 stocks including Tata Motors, ITC were trading in red while 14 stocks including HDFC, NTPC were trading in green at 9.20 a.m.
 
On Wednesday, Sensex had ended above the psychological mark of 39,000 after it gained sharply during the end of the trade session post last three days fall, the Nifty had begun the session on a positive note and then consolidated in course of the day's trading.
 
The Sensex was up by 489.80 points or 1.27 per cent at the Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 39,095.35 points and a low of 38,571 points. The Nifty, too was up by 150.20 points or 1.30 per cent.
 
On Thursday, Asian indices were showing mostly a negative trend though Japan's Nikkei 225 was quoting in green, up by 0.31 per cent. Hang Seng was down by 0.15 per cent while South Korea's Kospi was also down by 0.18 per cent. China's Shanghai Composite was also quoting in red, down by 0.37 per cent.
 
Overnight, Nasdaq closed in red, down by 0.23 per cent while FTSE was also down by 0.68 per cent at the closing on Wednesday.
 
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RBI divests its stakes in NABARD and NHB

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The Reserve Bank of India (RBI) divested its entire stake in National Bank for Agriculture and Rural Development (NABARD) and National Housing  Bank (NHB), amounting to Rs. 20 crore and Rs. 1450 crore, on February 26, 2019, and March 19, 2019, respectively.
 
With this, the Government of India now holds 100% stake in both the financial institutions, a press release from the central bank said here on Wednesday.
 
Divestment of RBI’s stake in NABARD and NHB has its basis in the recommendation of Narasimham Committee II and the Discussion Paper prepared by RBI on Harmonizing the Role and Operations of Development Financial Institutions and Banks, the release said.
 
Based on the recommendation, RBI announced the proposal to transfer ownership of its shares in State Bank of India (SBI), NHB and NABARD to the Central Government in the Monetary and Credit Policy for the year 2001-02.
 
Divestment of RBI’s shareholding in NABARD was done in two phases. The Bank held 72.5 per cent of equity in NABARD amounting to Rs. 1450 crore out of which 71.5 per cent amounting to Rs. 1430 crore was divested in October 2010 based on the Government of India notification on September 16, 2010. The residual shareholding was divested on February 26, 2019.
 
RBI held 100% shareholding in NHB, which was divested on March 19, 2019.
 
The current change in the capital structure of both the financial institutions was brought in by the Government of India through amendments to the NABARD Act, 1981 and the NHB Act, 1987 which were notified vide gazette notifications dated January 19, 2018, and March 29, 2018, respectively, the release added.
 
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Sensex ends above the 39k mark, up 490 pts

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Sensex ended above the psychological mark of 39,000 after it gained sharply during the end of the trade session on Wednesday, closing with a 489 points gain.
 
Except for the auto company stocks, all the other stocks, led by oil and gas, closed higher. The benchmark Sensex finished 489.80 points or 1.27 per cent higher at 39,054.68 while the Nifty ended 150.20 points or 1.30 per cent up at 11,726.15.
 
Besides, the Nifty IT index hit its highest level in a year (52-week high) on Wednesday, owing to the weakness in the rupee over surging oil prices which may benefit the export-oriented sector.
 
"Market rallied after a range bound movement supported by short covering ahead of F&O expiry and in-line results for Q4FY19 till date. Government 10-yr yield slid as the RBI announced open market operation while the rupee weakened due to uncertainty in oil prices," said Vinod Nair, Head of Research, Geojit Financial Services.
 
"Prospects over quarter results may cap the anxiety on crude price volatility, while any consolidation will give an entry point to quality stocks."
 
The top gainers on the Sensex were HCL Tech, ONGC, IndusInd Bank, Yes Bank and Bharti Airtel.
 
Sensex had only 7 scrips that ended lower. Tata Motors tanked the most, down 3.33 per cent followed by Tata Motors (DVR), declining by 3.18 per cent followed by HeroMotoCorp, Coal India, Power Grid, Maruti Suzuki and Axis Bank.
 
Post last three days fall, the Nifty began the session on a positive note and then consolidated in the range of 11,580-11,620. However, strong buying emerged in the latter half to surpass the hurdle of 11,650 and then this rally got extended beyond 11,700 on the closing basis, said Sneha Seth, Derivatives Analyst, Angel Broking.
 
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SEBI bars Leela sale to Brookfield

The Leela, Mumbai
The Leela, Mumbai
Market regulator SEBI came down forcefully against Hotel Leelaventure, barring it from selling its four high-profile hotels and other assets to Canadian investment fund Brookfield Asset Management.
 
In the ongoing saga, the dramatic development came after ITC moved the National Company Law Tribunal (NCLT) against Leela alleging "oppression and mismanagement". 
 
ITC also claimed that the deal between Leela and Brookfield was against the company's and shareholders' interests. SEBI has received representations from ITC on the matter and mentioned this in its letter to Leela.
 
ITC's plea was mentioned before the Mumbai bench of the NCLT, which posted the matter for hearing on Wednesday, Hotel Leelaventure said in a regulatory filing on Tuesday.
 
"Representations/allegations against HLVL, as received by Sebi in relation to the issue, concerns the interest of the investors in the security market... While representations are being examined by Sebi, in paucity of time involved and in the interest of investors in securities, you are advised to ensure that none of the transactions proposed in the postal ballot notice dated March 18 are acted upon till further directions from Sebi," Hotel Leelaventure said in the filing.
 
In conjunction with the petition to NCLT, ITC also filed two applications seeking a waiver of the requirement of the minimum threshold of 10 per cent shareholding, it added. ITC holds 7.92 per cent stake in Hotel Leelaventure.
 
The embattled hospitality group owned by the Nairs on March 18 had announced the sale of its four hotels located in Bengaluru, Chennai, Delhi and Udaipur, and a land parcel in Agra to the Canadian investment fund Brookfield for Rs 3,950 crore. 
 
It also sought shareholders' approval, the voting for which is scheduled to end on April 24.
 
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Markets open on positive note on Wednesday

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The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade.
 
The Sensex of the BSE opened at 38,672.63 and touched a high of 38,701.49 and a low of 38,52.28
 
It was trading at 38,659.82 up by 94.94 points or 0.25 per cent from its Tuesday's close at 38,564.88.
 
On the other hand, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 11,602.50 after closing at 11,575.95.
 
The Nifty was trading at 11,612.20 in the morning.
 
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Sensex down 80 pts over polls, oil caution

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Investors on Tuesday traded with caution anticipating a further rise in the international oil prices, and conclusion of the third and largest phase of the general elections. Sensex ended 80 points lower after a range-bound movement throughout the day's trade.
 
Analysts said investors were cautious ahead of the largest phase of the elections, post which participants will get a better sense as to which party could form the next government.
 
Besides, experts said that the market has also mostly factored in the rising oil prices and maintaining caution amid the general elections.
 
The Sensex finished 80.30 points or 0.21 per cent lower at 38,564.88 after trading in a range. Nifty also closed down 18.50 points or 0.16 per cent to 11,575.95.
 
"Markets traded in a range-bound manner today after witnessing two days' losses on account of a sharp surge in crude prices. Investors are likely to remain cautious with the crude prices charting uptrends," said Vinod Nair, Head of Research, Geojit Financial Services.
 
"Sideways movement is likely to continue during this election period while quarterly results will influence investors to accumulate quality stocks."
 
The grounded Jet Airways finished nearly 10 per cent higher. Jet scrips rose as the government authorities assured protecting its aviation slots rights and some high-risk investors took a bet on an early revival, said Deepak Jasani of HDFC Securities.
 
Besides, Yes Bank fell 2.33 per cent after witnessing a lot of activity post reports that an inspection of its books revealed a large exposure to real estate companies even as one more inspection was underway, he added.
 
Among the top losers on the Sensex were Maruti Suzuki, Yes Bank, IndusInd Bank, Tata Steel and HeroMoto Corp, declining in 1 to 4 per cent range.
 
ONGC and Sun Pharma advanced over 3 per cent, and Bajaj Finance, Coal India and Reliance Industries jumped 1 to 2 per cent on the Sensex.
 
Additionally, Foreign Institutional Investors (FIIs) on Monday bought Rs 73.08 crore worth of stocks, bucking the stronger trend seen over the past two months.
 
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Indian equity indices open in green, Sensex up 100 points

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The key Indian equity indices opened on a positive note on Tuesday with the BSE Sensex trading 100 points higher than its previous close.
 
Healthy buying in consumer durables, metal, energy and banking stocks supported the gains.
 
At 9.19 a.m., the Sensex traded at 38,747.86, higher by 102.68 points or 0.27 per cent from its previous close of 38,645.18 points.
 
It opened at 38,771.27 and so far touched an intra-day high of 38,779.29 and a low of 38,663.53 points.
 
The Nifty50 on the National Stock Exchange traded at 11,607.65 points, higher by 13.20 points or 0.11 per cent from its previous close of 11,594.45 points.
 
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Sensex ends 495 pts down, fear gauge at 3-year high

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Indian stock markets fell steeply on Monday over a sharp rise in crude oil prices. The benchmark Brent crude futures rose above the $73 a barrel mark following reports that the US may end sanctions waivers it had granted to some importers of Iranian oil, including India and China, last year.
 
All the sectoral indices closed lower, except for the export-oriented IT sectors stock which rose as the rupee lost ground against the dollar. The 'India VIX' or the fear gauge also logged a 3-year-high, touching an intra-day high of 24.5 over uncertainty around the general election and high oil prices.
 
"Brent crude oil prices rose by 1.86 per cent, to 5 months high at $73.83 per barrel over US sanctions on Iran oil import. The US is planning to announce that buyers of Iran oil need to end imports soon or face sanctions themselves," said Anuj Gupta, DVP - Commodities and Currencies Research, Angel Broking.
 
"Due to this, we expect Brent crude oil price may test $78 to $80 per barrel. Iran is the second largest producer in OPEC group countries."
 
Sensex plunged by 495.10 points or 1.26 per cent to 38,645.18 and the Nifty declined by 158.35 points or 1.35 per cent to 11,594.45.
 
"Broad-based consolidation was witnessed today as investors are on a profit booking mood given weak global cues and general election. Additionally, concerns over the end of US waivers on oil imports from Iran has led to a rise in oil prices impacting India," said Vinod Nair, Head of Research, Geojit Financial Services.
 
"However, the downside for the market may be capped given better Q4 results so far and strong FIIs flows."
 
Dewan Housing Finance Ltd (DHFL) ended 10.91 per cent lower after rating agency CRISIL downgraded the credit rating of the company's commercial paper.
 
The stock price of the grounded Jet Airways hit a new low during the early trade on Monday as it slipped nearly 20 per cent to Rs 132.20 per share. However, it recovered significantly to end 5.67 per cent lower.
 
The index heavyweight Reliance Industries closed 2.76 per cent lower, dragging the benchmark indices down as the investors responded to the weakness in its petrochemical and refining business, despite its overall strong quarterly results for the last quarter of 2018-19.
 
Bharti Airtel, TCS, Infosys, NTPC and Power Grid were the only gainers on the Sensex.
 
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Sensex slips by 250 points on higher oil prices

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The benchmark Sensex opened on a weak note on Monday, and was trading nearly 250 points lower owing to a steep rise in the crude oil prices.
 
The Brent crude rose above the $73 a barrel mark.
 
The Sensex of the BSE opened at 39,158.22 from its previous close at 39,140.28 on Thursday, as markets remained closed on Friday on account of Good Friday.
 
At 10.26 a.m., the Sensex traded at 38,893.97 lower by 246.31 points or 0.63 per cent.
 
The Nifty of the National Stock Exchange (NSE) opened at 11,727.05 after closing at 11,752.80 on Thursday.
 
The Nifty traded at 11,663.85 during the morning trade session, down 88.95 points and 0.76 per cent.
 
FIIs on Thursday bought stocks worth Rs 1,038.46 crore while the DIIs off-loaded scrips worth Rs 337.59 crore.
 
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EC serves notice on Pragya Thakur for remarks about Hemant Karkare

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The Election Commission in Madhya Pradesh on Saturday served a notice on BJP's Lok Sabha candidate Sadhvi Pragya Thakur over her controversial remarks about Hemant Karkare, the senior police officer who was killed in the terrorist attack in Mumbai on November 26, 2008.
 
The Commission served the notice even after she had withdrawn the remarks and asked why action should not be taken against her for breach of election code. Thakur has been given 24 hours to respond. 
 
The District Returning Officer Sudam Khade was asked if the notice could be served despite her withdrawal of the remarks. He said the commission would take a call on receiving her reply.
 
Pragya Thakur had on Thursday bragged that Karkare died during the attacks as she "cursed" him for torturing her. But once the statement caused a furore among the BJP's supporters and adversaries alike, she apologised for the remarks. She said those were personal observations since she was tortured while facing trial for alleged involvement in the bomb blasts in Malegaon.
 
State chief electoral officer V. L. Kanta Rao said, "We took suo motu cognisance of the statement and sought a report from the assistant returning officer (ARO) on the matter. We got the report this morning and we have issued notice."
 
The organisers of the meeting addressed by Thakur were also served the notice, said the commission. Can the commission act against the candidate if she failed to respond to the notice? The commission was apparently unsure, but said that it would be decided once the deadline for the candidate's response passed.
 
One of the officials attached to the Election Commission said the candidates and the organisers are granted permission for meeting certain conditions while the Model Code of Conduct is in force.
 
Use of objectionable language to defame a person was prohibited and the candidate could even face disqualification.
 
The BJP has been facing the supporters' flak for fielding Pragya who has embarrassed the leadership.
 
But the Sadhvi found an unexpected supporter in Prime Minister Narendra Modi who was asked why Pragya was given the ticket despite charges of violence against her. Modi said if the person responsible for 1984 riots against Sikhs could be made the Prime Minister what was wrong in fielding Sadhvi. 
 
Pragya's rival Digvijaya Singh has refused to speak about her comments. He has, however, questioned the BJP leaders of their comments about 'Hindu terrorism'. He said the BJP president owes an answer on how a home secretary to the Union Government who first officially used the term Hindu terror was made a party member and subsequently made a minister. 
 
Pragya, meanwhile, took a cue from the PM's remarks and launched an offensive against Madhya Pradesh Chief Minister Kamal Nath. She said Kamal Nath was involved in the 1984 carnage after Indira Gandhi's death. He should know how she was tortured in custody.
 
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Smith hands RR much-needed win over MI

 
Steve Smith (59 not out) played a captain's knock as Rajasthan Royals (RR) kept their play-off hopes alive after defeating Mumbai Indians (MI) by 5 wickets in their Indian Premier League (IPL) tie at the Sawai Mansingh Stadium here on Saturday.
 
Despite wickets falling at regular intervals for Rajasthan, Smith kept one end intact and ensured that his team crossed the line with five balls to spare. Smith's innings was laced with five boundaries and a six.
 
Sanju Samson and Riyan Parag, too, supported their skipper with useful knocks of 35 and 43, respectively.
 
Chasing a modest target of 162, the hosts started on a positive note, scoring 31 runs in the first three overs before Rahul Chahar drew the first blood for Mumbai as the leg-spinner cut short opener Ajinkya Rahane's (12) stay in the fourth over.
 
Samson and Smith were then involved in a 37-run second wicket partnership before Chahar struck again in the eighth over to pack back the former, leaving Rajasthan at 76/2. Four balls later, Chahar added more misery to the Rajasthan camp by dismissing Ben Stokes (0).
 
Smith was then joined by Parag and the duo denied Mumbai from making any further inroads as they both propelled Rajasthan past the 100-run mark in 11.1 overs. 
 
The hosts were comfortably placed at 137/3 in 16 overs and it seemed the two will steer their side to victory. However, Parag fell short of the crease while converting a single and had to depart in the 18th over.
 
Jasprit Bumrah then trapped Ashton Turner (0) in front of the wicket with Rajasthan still needing 9 runs off the last 11 balls. But Smith ensured that there were no further hiccups as he steered Rajasthan to a much-needed victory.
 
For Mumbai, Chahar was the pick of the bowlers with figures of 3/29 while Bumrah bagged one wicket.
 
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Earlier, opener Quinton de Kock's scintillating 65-run knock helped Mumbai put up 161/5.
 
Apart from de Kock, Suryakumar Yadav chipped in with a valuable 34 while Shreyas Gopal once again starred with the ball for Rajasthan, conceding just 21 runs from his four overs besides picking up two wickets.
 
Put in to bat first, the visitors received an early jolt as Gopal dismissed Rohit Sharma (5) in the third over. de Kock was then joined by Yadav and the two helped Mumbai past the 50-run mark in 6.4 overs.
 
The duo were involved in a crucial 97-run partnership with de Kock helping himself to a stroke-filled half-century before Stuart Binny came up with the much-needed breakthrough for the home side. A top-edge from Yadav went straight to deep backward square-leg where Dhawal Kulkarni took a fine catch to break the partnership.
 
Gopal claimed his second wicket soon as de Kock miscued a googly, holing out to Stokes at long-on in the process.
 
Jaydev Unadkat then sent back Kieron Pollard, who fell cheaply after managing to contribute just seven runs with Mumbai's scorecard reading 124/4.
 
Hardik Pandya once again played a 15-ball 23-run cameo while Ben Cutting chipped in with 13 runs as Mumbai reached a fighting total.
 
Brief scores
 
Rajasthan Royals 162/5 in 19.1 overs (Steve Smith 59 not out, Riyan Parag 43; Rahul Chahar 3/29) beat Mumbai Indians 161/5 (Quinton de Kock 65, Suryakumar Yadav 34; Shreyas Gopal 2/21) by 5 wickets.
 
 
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