Closing Bell: Sensex ends above 35,000 mark, Nifty under 10,600 level##Closing Bell: Sensex ends above 35,000 mark, Nifty under 10,600 level
The BSE Sensex closed over 179 points lower at 35,037.64, declining by 0.51 percent, while the NSE Nifty 50 shed over 82 points to end the day at 10,589.10, lower by 0.77 percent. On the NSE, 14 scrips advanced as against 36 declines, while all sectoral indices ended in the negative zone except Nifty Metal. Nifty IT, Media, Pharma, PSU Bank, Realty declined between 1-2.21 percent. Nifty MidCap and SmallCap also declined almost by up to 2 percent. NTPC, M&M, KotakBank, Infosys, Hindalco remained top gainers on the broader 50-share index, while Tech Mahindra, Titan, BPCL were among the major laggards on the NSE. Tech Mahindra declined almost 7 percent.
BSE MidCap and SmallCap also declined by up to 1.6 percent, while all major BSE sectoral indices underperformed. Realty, Oil & Gas, Consumer Durables, Telecom, Energy declined the most. M&M, NTPC, Bharti Airtel, HDFC Bank, Kotak Mahindra, NTPC, Infosys, Tata Steel, Wipro and Vedanta were among top gainers, while the ICICI Bank, Tata Motors, Coal India, Reliance, SBI, Maruti Suzuki, Power Grid, TCS, ITC were among top losers.
RBL Bank ups stake in Swadhaar Finserve to 100 percent##RBL Bank ups stake in Swadhaar Finserve to 100 percent
Private lender, RBL Bank, on Thursday increased its stake in microlender Swadhaar Finserve Pvt Ltd (SFPL) to 100 percent from 60.48%. Read more
Market update: Sensex tests 35,000 ahead of close##Market update: Sensex tests 35,000 ahead of close
The BSE Sensex and the Nifty 50 remain under pressure before trading closes for the day. The Sensex was trading just above 35,000 mark, lower by nearly 178 points or half a percent, while the Nifty was below 10,600 mark, declining by over 75 points, or 0.71 percent at 3.10pm.
Market update: Sensex dips below 35,000##Market update: Sensex dips below 35,000
The BSE Sensex and the NSE Nifty 50 extended losses in the afternoon trade on Thursday declining further ahead of derivatives expiry and rupee hitting lifetime low. The Sensex plunged over 193 points, or 0.55 percent, to 35,023.99, while the Nifty 50 shed over 78 points, or 0.73%, to 10,593.00 at 2.25pm. Later, the Sensex dipped below 35,000 mark. M&M, Infosys, Tata Steel, Axis Bank, Wipro were top gainers on the BSE, while Coal India, Power Grid, ICICI Bank, SBI, Yes Bank were the top laggards on the 30-share Sensex. Lupin and Idea Cellular were among other major gainers on the NSE along with M&M, Infosys, Tata Steel, while Tech Mahindra, Titan, Gail, HPCL were top losers on the 50-share Nifty. BSE MidCap and SmallCap are down by over 1.5 percent, while almost all sectoral indices on the NSE were in the red.
IndiGo shares decline sharply##IndiGo shares decline sharply
InterGlobe Aviation or IndiGo shares declined 3.69 percent to Rs 1107.15 at 2.14pm on the BSE. In other developments, JK Cement board has approved raising up to Rs 700 crore via allotment of equity shares. Adani Ports has signed share purchase agreement to acquire Marine Infra, for an enterprise value at Rs 1,950 crore. Also, the Maharashtra Electricity Regulatory Commission (MERC) has approved the sale of Reliance Infrastructure's integrated Mumbai power business to Adani Transmission Ltd. The total consideration value of the deal is estimated at Rs 18,800 crore and the transaction is expected to close in July 2018.
Lakshmi Vilas Bank shares drop nearly 6 percent##Lakshmi Vilas Bank shares drop nearly 6 percent
The shares of Lakshmi Vilas Bank ltd dropped as much as 5.9 percent to Rs 104.1, their lowest since 6 June, after the Sebi asked the private lender why it did not disclose a dispute with Religare Finvest, a unit of Religare Enterprises Ltd, in its regulatory filing for rights share issue launched in January. The bank claimed adjustment of a fixed deposit of about Rs 800 crore deposited by Religare Finvest in 2016 and early 2017, towards a loan default made by companies belonging to Religare promoters. At 2.11pm, the company's shares were trading 5.47 percent lower at Rs 104.60 on the BSE. (From Reuters)
Market update: Sensex, Nifty under pressure##Market update: Sensex, Nifty under pressure
The BSE Sensex and the NSE Nifty 50 remain under pressure owing to a weak rupee. The 30-share Sensex was trading lower by 70.67 points, or 0.20 percent, to 35,146.44, while the 50-share Nifty 50 was down by 49.75 points, or 0.47 percent, to 10,621.65. Both BSE and NSE MidCaps and SmallCaps continue to under-perform. M&M, Tata Steel, Infosys, ONGC, HDFC Bank, Axis Bank, Wipro,Vedanta, Sun Pharma, Baja Auto shares were trading higher on the BSE, while the shares of Power Grid, HDFC, Coal India, ICICI Bank, SBI, Yes Bank, Tata Motors, Bharti Airtel, TCS, HeroMoto Corp, NTPC, Maruti Suzuki, were among top losers on the 30-share index. NSE gainers include M&M, Lupin, Infosys, Hindalco, Tata Steel, while Tech Mahindra, Titan, Gail, Baja Financial Services, Eicher Motors were the laggards. All Nifty sectoral indices except Metal were in the negative zone with realty lowest at 2.07 percent.
Rupee marginally recovers against US dollar##Rupee marginally recovers against US dollar
The rupee recovered marginally from its lifetime low to trade at 68.95 per dollar in late morning deals on Thursday amid heavy month-end demand for the American currency from importers and banks. The rupee plunged to a record low at 69.10 before gaining ground to 68.95 at 1030 hrs, still down by 34 paise. The Indian unit resumed sharply lower at 68.89 from yesterday's closing level of 68.61 at the inter-bank foreign exchange Mumbai. Rising crude oil prices have deepened concerns about the country's current account deficit and inflation. Crude oil prices rose in Asia as the US pressured allies to stopped buying Iranian crude amid concerns over supply disruptions in Libya and Canada. Brent crude futures surged to USD 77.50 a barrel, the highest since 2014, on tight supply. Meanwhile, the US dollar was steady against its peers in early Asian trade, having failed to extend overnight gains amid conflicting signals from Washington on a proposal to restrict Chinese investment. (From PTI)
Sell Indiabulls Housing Finance, NIIT Technologies, says Ashwani Gujral##Sell Indiabulls Housing Finance, NIIT Technologies, says Ashwani Gujral
Watch Ashwani Gujral's stock recommendation here.
Market update: Sensex falls by over 122 points##Market update: Sensex falls by over 122 points
The BSE Sensex is trading lower by 122.76 points, or 0.35 percent, to 35,094.35, while the NSE Nifty 50 fell by 50.20 points, or 0.47 percent, to 10,621.20. Overall market sentiment remained fragile and most sectoral indices remained in the negative zone, particularly realty, power, oil and gas, consumer durables. MidCap and SmallCap on both indexes continued to under perform. Top Sensex losers included Coal India, ICICI Bank, Power Grid, HDFC ltd, Yes Bank, RIL, L&T, SBI, TCS, Hero MotoCorp, Tata Motors, Adani Ports, Asian Paints, Maruti Suzuki and Bajaj Auto, falling up to 2.06 percent. M&M, Infosys, Tata Steel, ONGC, HDFC Bank, Vedanta Ltd, Wipro, Axis Bank, NTPC were among the gainers, rising by up to 1.84 percent.
Among notable losers today, shares of Power Grid Corp. of India Ltd fall as much as 1.44 percent to Rs 184.5, lowest since January 3, 2017. Indian Bank shares trading at over 3-week low after bank cancels dividend.
Meanwhile, government officials say that April-May fiscal deficit likely between 56-57% of FY aim; total expenditure is expected to stay at about 18% and non-tax revenue at about 10% of FY aim.