StockMarket

Australia shares end down, commodities drag; NZ finishes at record
By Devika Syamnath

Australian shares ended on a dour note on Tuesday as losses in commodity stocks outweighed a relief rally for banks after Commonwealth settled a civil lawsuit filed by financial intelligence agency AUSTRAC.

The S-P/ASX 200 index closed 0.5 percent lower, or 30.6 points at 5,994.9. The benchmark rose 0.6 per cent on Monday.

Aus

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What's eating Avanti Stock slides more than 12%
NEW DELHI: Avanti Feeds had a gloomy start on Tuesday, tumbling more than 12 per cent. This is over and above the 40 per cent drop since April 26.

The company had held an audio conference call for its investors post market hours of Monday.

The stock fell 12.83 per cent to Rs 1,298.50. The past 3-4 months have not been exactly going well for the

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Unocoin launches exchange for active traders
Cryptocurrency exchange, Unocoin has launched UNODAX, a dedicated platform for live order-book trading of various altcoins. The service is aimed at highly active crypto traders with an array of tools and functionalities.

“It is a crucial step for us to announce the launch of UNODAX and simultaneously, establish two distinguish and dedicated p

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Stock market update: FMCG index in the green; Tata Global Beverages, Britannia among top gainers
NEW DELHI: FMCG stocks Tata Global Beverages (up 2.43 per cent), Marico (up 1.43 per cent) and Britannia Industries (up 1 per cent) were trading with gains during afternoon trade on Tuesday, underpinning the sectoral index.

The Nifty FMCG index was trading 0.27 per cent up at 28,471 around 01:05 pm.

Shares of Colgate-Palmolive (India) (up 0.82

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Stock market update: Over 20 stocks defy negative market sentiment, hit 52-week highs on BSE
NEW DELHI: ABans Enterprises, Biocon, Firstsource Solutions, Ishaan Infrastructures and Shelters and Lakshmi Automatic Loom Works hit 52-week highs on BSE in Tuesday's trade, despite a subdued market sentiment.

Sinner Energy India, Uday Jewellery Industries, Zenith Healthcare, Universal Starch Chem Allied and Indiabulls Real Estate also featured

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HCL reports 29% rise in FY18 profit at Rs 80 crore
Kolkata: Hindustan Copper Ltd (HCL), the state owned copper producer, reported a 28.5% rise in profit after tax of Rs 79.60 crore for 2017-18 compared to a profit after tax of Rs 61.94 crore in 2016-17. The company posted a profit before tax of Rs 122 crore in 2017-18, up 29.7% against Rs 94 crore in 2016-17. Gross revenue from operations
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Stock market update: IT stocks down; TCS, Infosys, HCL Tech fall up to 1%
NEW DELHI: Most IT stocks were trading in the negative territory during afternoon trade on Tuesday.

The Nifty IT index was trading 0.91 per cent down at 13,472 around 12:55 pm with Infibeam Incorporation (down 6.27 per cent) and KPIT Technologies (down 5.24 per cent) as the top losers.

Shares of Tata Elxsi (down 2.78 per cent) and Mindtree (down

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Idea shares up in early trade after FDI nod
The shares of Idea Cellular gained nearly 2 per cent in early trade on Tuesday, outpacing a negative broad market, on back of Department of Telecommunications (DoT) allowing 100 per cent foreign direct investment (FDI) in Idea Cellular.

This decision will pave the way for merger of the carrier with Vodafone India, which will create India's No 1

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Why MPC is likely to keep repo rate unchanged in this review
By Aditi NayarYear-on-year (YoY) CPI inflation prints, released since the April 2018 money policy review, have thrown up a mixed trend, with inflation easing from 4.4 per cent in February 2018 to 4.3 per cent in March 2018, and then reversing to 4.6 per cent in April 2018. Additionally, core CPI inflation hardened to a 44-month high of 5.9 per
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Top intraday trading ideas for afternoon trade for Tuesday, 5 June 2018
NEW DELHI: The Nifty50 index was trading 27 points down at 10,601 around 11:35 am on Tuesday following selling in frontline bluechip counters.

ETMarkets.com collated a list of trading ideas from various experts and here's what they had recommended for today's afternoon trade:

Kunal Bothra, independent market expertMotherson Sumi Systems is a

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MUMBAI: The non-banking finance companies are planning to meet the Reserve Bank of India on the issue of implementation of Indian Accounting Standards, popularly known as Ind AS.

RBI has deferred the implementation of Ind AS for banks by a year, while it is applicable for NBFCs from April 1, 2018. NBFCs will have to compute their first quarter

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Hotel Leela to consider 125 crore share issue to JM Financial ARC
Hotel Leelaventure today said its board will meet on June 11 to approve a share issue of up to 125 crore shares on preferential basis to JM Financial Asset Reconstruction Company for converting of part of debt into equity.

The hospitality chain currently has a debt of Rs 3,662 crore.

On June 30, 2014, the erstwhile corporate debt restructuring

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China shows faster pace of economic restructuring, a credit positive : Moody's
BEIJING:China's economic restructuring is picking up pace, with its manufacturing sector showing signs of a shift to higher value-added areas - a credit positive, analysts at Moody's Investors Service said on Tuesday.

China has been cutting excess capacity in heavy industry in recent years to revive profitability in the sector and reduce high debt

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Stock market update: Nearly 300 stocks hit 52-week lows on NSE
NEW DELHI: ACC, Ajanta Pharma, Ambuja Cements, BHEL, Capital First and Caplin Point Laboratories featured among stocks that touched 52-week lows on NSE on Tuesday.

By 10:45 am, as many as 293 stocks had hit 52-week lows on NSE.

Godfrey Phillips India, Gujarat Pipavav, Granules India, HCC, IDFC Bank, Bharti Infratel, Jubilant Industries, Bank of

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Fitch downgrades PNB's viability rating to 'b' from 'bb-'
Fitch Ratings has downgraded the viability rating (VR) of scam-hit Punjab National Bank to 'b' from 'bb-', and maintained it on rating watch negative (RWN).

The rating agency, however, has affirmed the bank's long-term issuer default rating (IDR) at 'BBB-' and its support rating floor and support rating at 'BBB-'and '2', respectively.

"The

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PE firm KKR logs out of Magma with 2X returns
MUMBAI: Private equity investor Kohlberg Kravis Roberts and Co (KKR) exited Kolkata-based nonbanking finance company Magma Fincorp through a block deal.

KKR had sold a large part in April when Magma Fincorp raised funds through a QIP. KKR has made two-times return on investment in five years after entering the company in 2011. KKR owned stake in

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Stock market update: YES Bank, Axis Bank, ICICI Bank drag Nifty Private Bank index down
NEW DELHI: Private bank stocks YES Bank (down 1.71 per cent), IDFC Bank (down 1.40 per cent) and Axis Bank (down 0.74 per cent) were suffering losses during early trade on Tuesday, keeping the sectoral index down.

The Nifty Private Bank was trading 0.26 per cent down at 14,882 around 10:30 am.

Shares of South Indian Bank (down 0.63 per cent) and

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Stock market update: BSE Smallcap falls over 2%; Deep Industries top loser
NEW DELHI: Underperforming the benchmark Sensex, the BSE Smallcap index finished Monday's trade 2.09 per cent down at 16,624.

The top loser of the smallcap index, Deep Industries plunged 20 per cent.

As per Reuters, the company said on Friday that the CBI had registered a case against 13 officials of ONGC and Deep Industries after a complaint

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Stock market update: Midcaps underperform Sensex; Future Retail plunges over 7% to emerge as the top loser
NEW DELHI: The BSE Midcap index was underperforming benchmark Sensex in the first half of Tuesday's session.

Around 11:20 am, the midcap index was 1.31 per cent down at 15,516, while the BSE Sensex was 0.32 per cent down at 34,900. The NSE Nifty50 was 0.46 per cent down at 10,579 around the same time.

Shares of Future Retail (down 7.37 per cent),

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Biocon goes up 6% on USFDA approval
NEW DELHI: Biocon on Tuesday surged 6 per cent as the drug maker and its partner Mylan received USFDA approval for a biosimilar of a drug used to treat cancer.

The drug in question -- Fulphila -- is the first USFDA-approved biosimilar to Neulasta and the second biosimilar from Mylan's and Biocon’s joint portfolio approved in the US.

Mylan expects

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Stock market update: BSE Realty top sectoral loser; HDIL plunges nearly 7%
NEW DELHI: The BSE Realty index finished Monday's trade as the top loser among the sectoral indices.

The index settled 72 points, or 3.25 per cent, down at 2139 on Monday, with all components in the red.

Housing Development - Infrastructure (HDIL) remained the top loser in the index, falling 6.70 per cent.

It was followed by Indiabulls Real

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Stock market update: BSE Smallcap plunges over 2%; Thirumalai Chemicals among top losers
NEW DELHI: The BSE Smallcap index was trading 2.16 per cent down at 16,265 around 11:05 am on Tuesday. The BSE Sensex was 0.42 per cent down at 34,865 and Nifty50 was 0.52 per cent down at 10,573 around the same time.

Fiberweb (India) (down 19.97 per cent) and Thirumalai Chemicals (down 15.68 per cent) were the top losers in the smallcap index.

Uja

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Stock market update: PSU bank stocks incur losses; SBI lone gainer in the sectoral index
NEW DELHI: Most PSU bank stocks were trading in the negative territory during the early trade on Tuesday, ahead of RBI's policy decision due tomorrow.

The Nifty PSU Bank index was trading 0.26 per cent down at 2,884 around 10:20 am, with 11 stocks declining and only one -- State Bank of India (up 0.25 per cent) -- advancing in trade.

Bank of

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Stock market update: Bank stocks settle in the lower terrain; BoB, HDFC Bank top losers
NEW DELHI: Most bank stocks finished Monday's session with losses, keeping the sectoral index in the red.

The BSE Bankex settled 1.42 per cent down at 29,358 on Monday, with 8 stocks in the red and only 2 in the green.

Bank of Baroda (down 4 per cent) emerged as the top loser in the index.

It was followed by HDFC Bank (down 2.99 per cent),

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NEW DELHI: As the Nifty50 index ended 68 points, or 0.63 per cent, lower at 10,628 on Monday, momentum indicator moving average convergence divergence, or MACD, signalled downward crossover on as many as 85 counters on NSE.

The MACD is known for identifying trend reversals.

Among the stocks that saw bearish crossovers were Axis Bank, Edelweiss

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US Federal Reserve should go slow on unwinding balance sheet: RBI governor
NEW DELHI: The US Fed should reduce the pace of unwinding of its balance sheet to limit the impact of shortage of dollar in emerging markets, RBI Governor Urjit Patel said.

In an article written in the Financial Times, he said that the Fed should carefully adjust the pace keeping in view the evolving macroeconomic conditions.

"Global spillovers

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NEW DELHI: Heavy selling in financials, FMCG and telecom stocks dragged the market lower on Monday.

The 30-share pack of BSE lost 215 points, or 0.61 per cent, to end at 35,011, while NSE’s Nifty50 index shed 68 points, or 0.63 per cent, to close at 10,628, with 15 constituents ending in the green and 35 in the red.

Here’s a look at the top m

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MUMBAI:For the first time under the Insolvency and Bankruptcy Code, Kolkata-based Keshav Sponge and Energy has been liquidated as a ‘going concern’, marking a new chapter in the evolving Insolvency and Bankruptcy Code that provides the framework to extricate billions of dollars stuck in bad loans. This move has twin-benefits: It helps lenders
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Indian equity market saw a volatile session on Monday as the Nifty continued to oscillate in a range, but continued with its corrective decline as well. The market made a negative start to the week, as Nifty ended 67.70 points or 0.63 per cent down.

The NSE benchmark slipped below its short term 20-DMA and the overall structure of the charts

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Stock market update: These 6 stocks managed to hit 52-week highs on NSE on Monday
NEW DELHI: Firstsource Solutions, Reliance ETF Junior BeES, KPIT Technologies, DSP BlackRock Liquid ETF, Nestle India and Pfizer were the six stocks that touched 52-week highs on NSE on Monday.

On the other hand, as many as 256 stocks including Tata Consultancy Services, Ambuja Cements and Apollo Hospitals Enterprise hit 52-week lows on NSE on

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