Closing Bell: Sensex ends 383 points lower, Nifty holds 11,700; Tata Motors falls 6.5%, Jet Airways rises 13%

All sectoral indices ended the day in red##All sectoral indices ended the day in red

Top Nifty gainers and losers for Tuesday: Tata Motors tanks 6.5%##Top Nifty gainers and losers for Tuesday: Tata Motors tanks 6.5%

Closing Bell: Sensex ends 383 points lower, Nifty holds 11,700; Tata Motors falls 6.5%##Closing Bell: Sensex ends 383 points lower, Nifty holds 11,700; Tata Motors falls 6.5%

The Indian benchmark indices ended lower on Tuesday after hitting fresh record highs at open dragged by auto, banking and IT stocks as investors booked profit after the mammoth rally in yesterday's trade. Investors are now waiting to see the 2019 Lok Sabha election results on May 23, 2019. Exit polls on Sunday indicated that Prime Minister Narendra Modi would retain power with an even bigger mandate than in 2014.  The Sensex settled 383 points lower at 38,970, while the Nifty50 lost 119 points to end at 11,709. Among broader markets, the Nifty Midcap and the Nifty Smallcap were down 1.1 and 0.9 percent, respectively. Bharti Infratel, Dr Reddy's Laboratories, Reliance Industries, Britannia and Titan were among the major gainers on the Nifty50, whereas Tata Motors, BPCL, Zee Entertainment, Adani Ports and IndusInd Bank led the losses. All sectoral indices ended the day in red. Nifty Auto was the worst performing sector, down 2.5 percent followed by Nifty Media, Nifty Metal and the banking indices.

DHFL sees a sharp uptick as it climbs more than 4% in the last hour of trade##DHFL sees a sharp uptick as it climbs more than 4% in the last hour of trade  

Vedanta declared preferred bidder for 2 copper blocks in Maharashtra##Vedanta declared preferred bidder for 2 copper blocks in Maharashtra

Bosch Q4 earnings##Bosch Q4 earnings

Bosch reported a 5.1 percent decline in net profit for the quarter ended March 2019. Net profit for Q4 stood at Rs 411.7 crore, against Rs 433.8 crore in the year-ago period. Revenue declined 12.9 percent at Rs 2,749 crore, compared to Rs 3,158 crore in the corresponding quarter of the previous fiscal.

Bharat Petroleum's FY20 GRMs will be better than FY19, says finance director Vijayagopal##Bharat Petroleum's FY20 GRMs will be better than FY19, says finance director Vijayagopal

Bharat Petroleum Corp Ltd (BPCL) on Monday posted a 16.21 percent year-on-year rise in profit at Rs 3,124.91 crore for the quarter ended March 31. The company’s average gross refining margin (GRM) came in at $4.58 per barrel for the full financial year against $6.85 last year. N Vijayagopal, director of finance at BPCL, spoke to CNBC-TV18 about the financial results. "GRMs in FY20 would be higher than FY19 on back of the recovery in global margins. The adjusted GRMs for the quarter stood at USD 2.55/bbl and for the USD 4/bbl full year," Vijayagopal said on Tuesday.

Jet Airways surges higher on optimism around Hinduja Group evaluating opportunity in airline##Jet Airways surges higher on optimism around Hinduja Group evaluating opportunity in airline

HDFC group surpasses Tatas in terms of market capitalisation, becomes most valuable business house##HDFC group surpasses Tatas in terms of market capitalisation, becomes most valuable business house

HDFC group on Tuesday became the most valuable business house in the country, overtaking Tata Group, with the cumulative market valuation of its four listed companies at Rs 11.53 lakh crore. Tata Group, on the other hand, with 17 listed firms had a combined market valuation of Rs 11.43 lakh crore. With a market capitalisation of Rs 6.65 trillion, HDFC Bank is the third most valuable firm after TCS (Rs 7.98 lakh crore) and Reliance Industries (RIL) (Rs 8.58 lakh crore) in the country. READ MORE

BSE Midcap index surged 70% under PM Modi. Check top election picks by brokerages

US sanctions on Huawei bite, but who gets hurt, explained##US sanctions on Huawei bite, but who gets hurt, explained

Trump administration sanctions against Huawei have begun to bite even though their dimensions remain unclear. US companies that supply the Chinese tech powerhouse with computer chips saw their stock prices slump on Monday, and Huawei faces decimated smartphone sales with the anticipated loss of Google's popular software and services.

The US ban could have unwelcome ripple effects in the US, given how much technology Huawei buys from US companies, especially from makers of the microprocessors that go into smartphones, computers, internet networking gear and other gadgetry. Being cut off from Huawei will also compound the pain the chip sector is already experiencing from the Trump administration's rising China tariffs. READ MORE

Bajaj Finance joins Rs 2 lakh crore market-cap club; stock hits fresh record high##Bajaj Finance joins Rs 2 lakh crore market-cap club; stock hits fresh record high

Shares of Bajaj Finance hit a record high of Rs 3,488 on Tuesday, taking its market capitalisation to Rs 2 lakh crore. With Rs 2 lakh crore market cap, Bajaj Finance is 15th in the elite list of companies which includes L&T, Axis Bank, Maruti Suzuki, ONGC, ICICI Bank, Kotak Mahindra Bank, SBI, Infosys, HDFC, ITC and 4 others. Bajaj Finance has been a game changer for many retail and foreign investors. The stock has gained 30 percent year-to-date and in last one year, the stock has jumped over 63 percent. READ MORE

Hinduja Group to start bidding process for Jet Airways as Naresh Goyal, Etihad Airways give green signal, says report##Hinduja Group to start bidding process for Jet Airways as Naresh Goyal, Etihad Airways give green signal, says report

Hinduja Group has got the assent for buying a stake in JetAirways from founder Naresh Goyal and Etihad Airways, startegic investor in the airline,  and the conglomerate will start the bidding process soon, reported The Economic Times. Hinduja Group is engaged in talks with SBI Capital Markets for due diligence, which is expected to come soon, the daily said, adding that the company expects the lenders to take a sizeable haircut. READ MORE

Jyothy Labs' promoter creates pledge on 71.2 lakh shares from May 13-20##Jyothy Labs' promoter creates pledge on 71.2 lakh shares from May 13-20