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Market highlights: Sensex tanks 273 points at close, Nifty ends below 10,700 mark, MidCaps tank, IT stocks ride on weak rupee, OMCs fall

Market highlights: Sensex tanks 273 points at close, Nifty ends below 10,700 mark, MidCaps tank, IT stocks ride on weak rupee, OMCs fall

Market highlights: Sensex tanks 273 points at close, Nifty ends below 10,700 mark, MidCaps tank, IT stocks ride on weak rupee, OMCs fall
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Summary

Indian benchmark indexes declined sharply ahead of the last session of trading on Wednesday as shares of oil marketing companies slipped on higher crude prices and the rupee hitting 19-month low. Also, the overall investor sentiment remained negative a day before the expiry of June derivatives contracts as well. The BSE Sensex closed nearly 273 points lower, or 0.77 percent, at 35217.11, while the NSE Nifty 50 ended the day 97.75 points lower, or 0.91 percent, at 10,671.40. Both Nifty MidCap and the BSE MidCap were down 1.50 percent. Asian markets too ended weak with the Hang Seng index down by over 525 points. Here are the latest updates and developments from the markets today:

Live Updates

Only 9 Nifty stocks end in the green today##Only 9 Nifty stocks end in the green today

Nifty Ends Below 50-DMA Level Of 10,685##Nifty Ends Below 50-DMA Level Of 10,685

Market close: Sensex slides 273 points, Nifty ends below 10,700 mark##Market close: Sensex slides 273 points, Nifty ends below 10,700 mark

Indian benchmark indexes declined sharply ahead of the last session of trading on Wednesday as shares of oil marketing companies slipped on higher crude prices and the rupee hitting 19-month low. Also, the overall investor sentiment remained negative a day before the expiry of June derivatives contracts as well. The BSE Sensex closed nearly 273 points lower, or 0.77 percent, at 35217.11, while the NSE Nifty 50 ended the day 97.75 points lower, or 0.91 percent, at 10,671.40. Both Nifty MidCap and the BSE MidCap were down 1.50 percent. Asian markets too ended weak with the Hang Seng index down by over 525 points.

Market update: Sensex, Nifty extend losses before close##Market update: Sensex, Nifty extend losses before close 

Indian benchmark indexes continued their downward slide in the last session before markets close with the BSE Sensex plunging nearly 269 points, or 0.76 percent, to 35,221.14, while the NSE Nifty 50 slipped almost 91 points, or 0.84 percent, to 10,678.30 at 3.12pm. The investor sentiment remains subdued due to rising crude prices and weaker rupee ahead of expiry of June derivatives contract. 

Manpasand Beverage Q4 EBITDA margin at 19% Vs 19.3% (YoY)##Manpasand Beverage Q4 EBITDA margin at 19% Vs 19.3% (YoY)

Adi Godrej says GST has been very successful for Godrej Group##Adi Godrej says GST has been very successful for Godrej Group

Market update: Sensex, Nifty extend losses##Market update: Sensex, Nifty extend losses


The BSE Sensex plunged over 258 points, or 0.73 percent, to 35,231.56, while the Nifty 50 was trading lower by 98.30 points, 0.91 percent, to 10,670.85 at 2.30pm. State-run lenders fell after the financial stability report from the Reserve Bank of India indicated continuation of stress in the banking sector. Nifty PSU bank index dropped as much as 2.3 percent to its lowest level in five weeks. Syndicate Bank fell to its lowest in over nine years while Oriental Bank of Commerce plunged to its lowest since April 2003. However, information technology stocks gained, with Nifty IT index rising as much as 1.4 percent, on track for a fourth straight session of gain, helped by a weaker rupee. Tech Mahindra Ltd, up more than 3 percent, was the top percentage gainer on the NSE index while Tata Consultancy Services Ltd hit an all-time high.

Watch CNBCTV18's 5-step guide on how to file your income tax returns

Cabinet approves to increase ethanol price##Cabinet approves to increase ethanol price

IRDA to consider LIC-IDBI Bank deal on June 29 board meet##IRDA to consider LIC-IDBI Bank deal on June 29 board meet

The Insurance Regulatory and Development Authority (IRDA) will consider LIC's proposal to pick up a majority stake in IDBI in its board meet on June 29.  For a different take on the proposed LIC-IDBI deal, read The government needs a bigger lifeboat than LIC to rescue IDBI Bank

Here is a list of stocks under pressure##Here is a list of stocks under pressure


Market update: Sensex slumps over 236 points, Nifty below 10,700##Market update: Sensex slumps over 236 points, Nifty below 10,700

The BSE Sensex has slumped over 236 points, or 0.67 percent, to 35,253.66, while the NSE Nifty 50 is trading below 10,700 mark, declining by 86.80 points, or 0.81 percent, to 10,682.35. Asian markets remained subdued with Hang Seng down by over 300 points today. Bharat Petroleum Corp. Ltd, Hindustan Petroleum Corp. Ltd and Indian Oil Corp. Ltd dropped over 4 percent each.

Singapore FM says SGX Nifty issues being addressed##Singapore FM says SGX Nifty issues being addressed

OMCs fall as crude prices rise##OMCs fall as crude prices rise

The shares of top oil marketing companies fell on Wednesday and figure among top percent losers on the NSE index as crude oil prices jump. Oil prices are rising due to supply disruptions in Libya and Canada coupled with US attempts to stop Iran imports. Brent crude futures, rose 15 cents, or 0.2 percent, to $76.46 per barrel at 0146 GMT. The shares of Bharat Petroleum Corp. Ltd fell as much as 5 percent to hit a more than 3-week low of Rs 394.4. Hindustan Petroleum Corp. Ltd plunged as much as 4.5 percent to Rs 285.5, hitting its lowest since May 25. Indian Oil Corp. Ltd slid as much 4.3 percent, on track to post a fourth straight session of loss. Nifty Energy Index fell more than 1 percent to its lowest since June 1. (From Reuters)

Market update: Sensex, Nifty extend losses##Market update: Sensex, Nifty extend losses

The BSE Sensex was trading lower by 85.43 points, or 0.24 percent, to 34,404.61, while the NSE Nifty 50 declined by 35.65 points, or 0.33 percent, to 10,733.50 at 12.18pm.  Only Nifty IT and FMCG were trading in the green among sectoral indices on the NSE. 


TCS hits record high##TCS hits record high

Tata Consultancy Services Ltd gained as much as 1.79 percent to a record high of Rs 1,885.15 on Wednesday. The shares of the world's fourth largest IT services company break above a resistance at Rs 1,840, the 61.8 percent Fibonacci projection level of the uptrend from October 27, 2008 low to October 7, 2014 high. As long as Rs 1,840 is the support, stock is expected to move towards the next resistance at Rs 2,033, the 76.4 percent projection level. (From Reuters)

At 11.27am, TCS shares were trading 1.39 percent higher at Rs 1878.40 on the BSE.

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