Here are the key highlights from today's trading session:

1. Sensex and Nifty slip from highs to close with minor gains

2. Financials drag market with Axis Bank, HDFC and SBI being top losers

3. Reliance Industries surges nearly 4 percent, contributes 44 of total 52 points gain in Nifty

4. RIL hits Rs 10 lakh crore market capitalisation after Vista buys 2.3 percent in Jio platforms for Rs 11,367 crore

5. Nifty Bank slips 617 points from highs to end with a cut of 139 points at 19,353

6. Midcap Index falls 234 points from highs to close 42 points lower at 12,789

7. Market breadth favours declines, advance-decline ratio at 2:3

8. Volatility Index slips 4 percent today but still 13 percent higher for the week

9. Pharma and FMCG gain amongst indices while PSU Bank, Auto and metal slip

10. HUL top Nifty gainer, with stock up 5 percent after GSK completes its 5.7 percent stake sale

11. Dr Reddy’s surges to record high as US FA clear Srikakulam unit

May 8, 2020 3:48 PM

Closing Bell: Market fails to recover but ends the day in green; Dr Reddy's, HUL, Sun Pharma, RIL top gainers

Indian domestic market ended in green on Friday after erasing most of the morning gains. The S&P BSE Sensex closed the session with gains of 200 points at 31,643 while the Nifty50 index ended at 9,251, up 52 points. Among sectoral indices, Nifty Pharma and Nifty FMCG surged 2 percent while PSU banks and auto index slipped nearly 2 percent lower. HUL, Sun Pharma, Dr Reddy's Laboratories, Tech Mahindra and Nestle India remained the top gainers of the day while NTPC, M&M, Axis Bank, IndusInd Bank and JSW Steel were the top losers.

May 8, 2020 3:41 PM

Trending Stock: Future Retail's share price locked in an upper circuit of 5% after the company issued a clarification to the exchanges over reports of Amazon looking to buy stake in the company. The exchange notice states that there currently is no legally binding agreement nor any understanding in writing.

May 8, 2020 3:23 PM

May 8, 2020 3:11 PM

Rupee Update: The Indian currency ended today with gains at 75.55 against the US dollar as against the Wednesday's close of 75.76. The positive bias seen in the domestic equity market stood as the primary reason for the currency to end higher. Indian rupee was the 4th best performer today after Rupiah (Indonesia), Won (South Korea) and Baht (Thailand).

May 8, 2020 3:04 PM

Jio Platforms-Vista Equity deal: All you need to know about RIL's latest high-profile investor

Reliance Industries on Friday announced that US-based private equity firm Vista Equity Partners will buy a 2.32 percent stake in Jio Platforms for Rs 11,367 crore, making it the third high profile investment in the firm in less than a month.

The latest round of investment by Vista values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

Vista is now the third such high profile investor in Jio Platforms after Facebook and Silver Lake Partners. Continue reading here

May 8, 2020 2:55 PM

May 8, 2020 2:38 PM

Yes Bank looks to raise Rs 5,000 crore; kick starts process for 2nd tranche of capital raising

Yes Bank has kick-started the process for the second tranche of capital raising and is seeking to raise Rs 5,000 crore, sources told CNBC-TV18.

The bank may look at various options including QIP, Rights Issue, Preference Issue, etc.

According to sources, Yes Bank has appointed 6 merchant bankers for its proposed capital raising. These are Axis Capital, Kotak Investment Banking, SBI Caps, Bank of America, Citi and HSBC Capital Market.

The bank already has approvals in place to raise upto Rs 15,000 crore. This Rs 15,000 crore capital is expected to take care of bank's capital requirement for 3 years.

Yes Bank's response to CNBC-TV18 query is awaited.

May 8, 2020 2:25 PM

Page Industries manufacturing operations, in all 15 facilities / units, (including all warehouses) have resumed work on different dates from 4th May 2020 with health and safety guidelines in place. At 2 pm, the shares traded 0.20 percent lower at Rs 16,985 per share on the NSE.

May 8, 2020 2:08 PM

Europe markets open higher as US-China trade talks look positive

European stocks opened higher on Friday, as U.S.-China relations and the economic impact of the coronavirus remained in focus.

Germany’s DAX was up 1.2 percent shortly after the open, while both Italy’s FTSE MIB and France’s CAC 40 were around 0.8 percent higher.

The U.K.’s FTSE 100 is closed Friday because of the VE Day holiday, which marks the day at the end of World War II when fighting against Nazi Germany ceased.

Stocks appeared to get a boost from signs relations between Washington and Beijing are warming, as U.S. and Chinese trade representatives agreed to strengthen their cooperation in implementing the “phase 1” trade deal.

The news has soothed investors, following growing concerns about increasing tensions between the U.S. and China — two of the largest economies in the world.

May 8, 2020 1:57 PM

Raghuram Rajan on monetisation debate: 'It's neither a game changer nor a catastrophe'

Raghuram Rajan, former RBI governor and now a professor of finance at Chicago Booth School, in a note on LinkedIn, lucidly explains what monetisation of deficit is all about.Get latest Finance online at cnbctv18.com

May 8, 2020 1:40 PM

May 8, 2020 1:25 PM

Moody's expects India to see no GDP growth in FY21; Growth to remain lower than in past

Moody's Investors Service on Friday said that India's GDP growth in FY21 is likely to be at 0 percent and FY22 growth at 6.6 percent. The rating agency indicated an upgrade of India's negative rating at 'Baa2 negative' is unlikely in the near term due to economic shock triggered by the coronavirus outbreak, weak policy implementation and higher debt levels.

"The negative outlook reflects increasing risks that economic growth will remain significantly lower than in the past. This is in light of the deep shock triggered by the coronavirus outbreak, and partly reflects lower government and policy effectiveness at addressing long-standing economic and institutional weaknesses, leading to a gradual rise in the debt burden from already high levels," Moody's said in a report. Read more

May 8, 2020 1:11 PM

Buzzing Stock: Dr Reddy Laboratories surges 4 percent after the company received its Establishment Inspection Report (EIR) from US FDA, for API manufacturing plant at Srikakulam, Andhra Pradesh (CTO VI).

May 8, 2020 1:05 PM

HUL surges 4% after Societe Generale buys 12.9 crore shares via bulk deal

Hindustan Unilever (HUL) shares rose 4 percent after institutional investors bought stake in the FMCG company via open market. The stock recovered 9 percent from its Thursday’s low of Rs 1,902 touched in early morning deal. The NSE bulk deal data on the exchange showed foreign portfolio investor Societe Generale, a French multinational investment bank and financial services company, bought 12.9 crore shares of HUL at an average price of Rs 1,902. The rest of the buyers are unknown yet. On Thursday, UK-based Glaxo-SmithKline (GSK) offloaded its stake in HUL via block deals.

May 8, 2020 12:54 PM

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