Market

June 28: Here's what you should know before the opening bell

Updated : June 28, 2018 07:59 AM IST

The Indian market closed in the red on Wednesday, in line with global peers. The Sensex fell 273 points to 35,210 while the Nifty lost 98 points to 10,671.

The biggest fall was seen in midcaps, with the leading index slipping 277 points to 18,183. A drag in midcaps kept the market breadth in favour of declines with the advance-decline ratio at 1:6.

Here's what you should know before the opening bell

The US has asked all countries, including India, to stop all oil imports from Iran by November as it ruled out any exemption to India and Indian companies from its reimposed Iranian sanctions regime for them carrying out any transaction with Iran.

While the government tries to find a way to take the failed divestment of fund-starved Air India forward, the airline's management has now turned to cost-cutting measures to keep the national carrier operational. In a letter to employees in June, the chairman and managing director, has outlined a series of measures, which can save up to Rs 25 crore this fiscal.

The US dollar ended higher against the rupee at Rs 68.60 per dollar and the pound sterling finished higher at Rs 90.46 at the close of the Interbank Foreign Exchange (forex) market.

Two major auto trade groups on Wednesday warned the Trump administration that imposing up to 25 percent tariffs on imported vehicles would cost hundreds of thousands of auto jobs, dramatically hike prices on vehicles and threaten industry spending on self-driving cars.

Profits at China's industrial firms rose sharply in May, maintaining the previous month's sizzling pace despite signs of slowing momentum in the world's second-largest economy and an intensifying trade spat with the United States.

Puranik Builders, a Mumbai-based residential real estate developer, has filed draft papers with markets regulator Securities and Exchange Board of India (Sebi) to raise an estimated Rs 1,000 crore through an initial public offer. The IPO comprises fresh issue of shares worth Rs 810 crore, besides, an offer for sale up to 18,59,620 equity shares by the company's promoters and existing shareholders, according to the draft papers with Sebi.

China will reduce or cut to zero tariffs on a total of 8,549 types of goods originating in India and four other Asian countries from July 1, according to the Ministry of Finance. The adjustment, covering products made in India, Bangladesh, Laos, South Korea and Sri Lanka, was part of the tariff concession arrangement reached under the Asia-Pacific Trade Agreement (APTA), it said.

The gross revenue of telecom operators slipped 1.76 percent year-on-year during the quarter ending March 2018, while licence fee and spectrum charges that government collects from them fell 12.7 percent and 23.4 percent respectively, according to a Telecom Regulatory Authority of India (Trai) report.

BSE has decided to launch a new platform on July 9 which will facilitate listing of companies in sectors such as IT, bio-tech and life sciences, 3D printing, space technology and E-commerce. It will also list companies in sectors like Hi-tech defence, drones, nano technologies, AI, big data, virtual reality and many more.

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