The Nifty was trading marginally higher in early trade. At 9:20 IST, the Nifty 50 index was up 18.25 points or 0.15% at 11,940.95.
Among secondary barometers, the Nifty Midcap 100 index was down 0.18%. The Nifty Smallcap 100 index was down 0.61%. Both these indices underperformed the Nifty 50 index.
On NSE, 601 shares rose and 934 shares fell. A total of 529 shares were unchanged.
Overseas, Asian stock markets were trading higher on Tuesday. In the US market, stocks advanced as investors cheered the agreement struck between the US and Mexico to avoid tariffs being implemented. Meanwhile, on the US-China trade front, President Donald Trump reportedly said on Monday he was ready to impose another round of punitive tariffs on Chinese imports if he cannot make progress in trade talks with Chinese President Xi Jinping at the G20 summit. US president reportedly expects to meet Xi at the June 28-29 summit in Osaka, Japan.
Jet Airways India was down 8.81%. Some media reports suggested that Hinduja Group has decided to halt negotiations to buy a stake in Jet Airways, while Etihad Airways of Abu Dhabi has put on hold a plan to add more investments in the Mumbai-based airline.
Reliance Industries (RIL) was up 0.23%. RIL is planning to shut down one of the crude distillation units and coker unit of its DTA refinery at Jamnagar for routine maintenance and inspection activities, for about three to four weeks starting from 20 June 2019. The other crude distillation and secondary processing units are expected to operate normally during this period. The announcement was made after market hours yesterday, 10 June 2019.
Wipro was up 0.20%. The company has announced the roll-out of Total Operations System (TOPS) CREW, a fully-integrated IT product suite for global airlines. It has been developed jointly by Wipro and Qatar Airways in a co-investment model which helps in increasing the safety awareness, efficiency and profitability of airline operations. TOPS CREW, a recent addition in TOPS, helps maximize productivity by managing crew operations, optimize costs and reducing operational delays. The announcement was made after market hours yesterday, 10 June 2019.
Bharti Airtel was down 0.95%. The company has upgraded 4G network in Delhi NCR and deployed LTE 900 technology to boost indoor coverage and enhance indoor network experience for smartphone customers. Bharati Airtel has also set up latest network technologies such as Pre-5G, Volte, Massive MIMO and Carrier Aggregation to serve the massive surge in data. The announcement was made after market hours yesterday, 10 June 2019.
The Securities and Exchange Board of India (Sebi) on Monday, 10 June 2019, proposed an informant mechanism to blow the whistle on insider trading cases, wherein genuine whistleblowers could get monetary reward of Rs 1 crore as well as amnesty from regulatory action. Proposing a mechanism that provides near absolute confidentiality along with appropriate safeguards, Sebi said it would help strengthen the mechanism for early detection of insider trading cases.
The Reserve Bank of India (RBI) on Monday, 10 June 2019, relaxed norms for Basic Savings Bank Deposit (BSBD) account. Banks are now advised to offer ATM card or ATM-cum-Debit card and allow minimum of four withdrawals in a month, including ATM withdrawals. There shall be no limit on number and value of deposits that can be made in a month. The BSBD account holders should be allowed to deposit cash at bank branch as well as ATMs/CDMs. Receipt/ credit of money should be allowed through any electronic channel or by means of deposit /collection of cheques drawn by Central/State Government agencies and departments. The rules will come into force from 1 July