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This article is more than 2 year old.

Closing Bell: Nifty ends below 10,700, Sensex falls 377 points, HDFC twins, Reliance Industries, L&T, TCS, M&M drag

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Indian shares ended Thursday's session sharply lower, tracking weak global cues amid slowdown concerns. The Sensex and Nifty ended more than a percent lower, while the selling in midcaps was less intense with the Nifty MidCap falling by 0.83 percent. The Sensex ended 377 points lower, while the Nifty slipped below 10,700. HDFC, HDFC Bank, Reliance Industries, Tata Consultancy Services, L&T, M&M shares dragged indexes. Shares of Dena Bank, Vijaya Bank, Bank of Baroda, Bank of India, Vodafone Idea, Bharti Airtel, Punjab National Bank Housing Finance also made sharp moves in trade among others. Here are the main highlights from the stock markets today:

Closing Bell: Nifty ends below 10,700, Sensex falls 377 points, HDFC twins, Reliance Industries, L&T, TCS, M&M drag
  • Eicher Motors continues to see downtick, top loser on the Nifty today##Eicher Motors continues to see downtick, top loser on the Nifty today

  • Closing Bell: Sensex, Nifty fall sharply, indexes dip over a percent##Closing Bell: Sensex, Nifty fall sharply, indexes dip over a percent


    The Sensex plunged over 377 points, or 1.05 percent, 35,513 at close, while the Nifty fell below 10,700, slipping more than 120 points, or 1.11 percent, to 10,672. The Nifty MidCap index settled at 17,530, dipping 0.83 percent, outperforming its frontline peers. The Bank Nifty fell 0.79 percent with HDFC Bank being the top loser. All sectoral indices end in the red with Nifty Metal and Nifty Media falling the most. Eicher Motors continued its downtrend, being the top loser on the Nifty. Only 9 Nifty stocks ended in the green. Bank of Baroda shares gained on favourable swap ratio, while Dena Bank and Vijaya Bank slided.

  • CNBCTV18 sources tell that government working on providing relief to farmers##CNBCTV18 sources tell that government working on providing relief to farmers

  • ICICI Direct raises Bank of Baroda price target by 4%##ICICI Direct raises Bank of Baroda price target by 4%


    ICICI Direct Research has increased the price target on the shares of Bank of Baroda by 4 percent to Rs 140 and maintained "buy" rating on the stock. On Wednesday, Bank of Baroda had announced swap ratio for the merger of Vijaya Bank and Dena Bank with itself. Shareholders of Dena Bank will get 110 shares of Bank of Baroda, while those of Vijaya Bank will get 402 shares Bank of Baroda, for 1,000 shares held. The brokerage expects return on assets of 0.5% and return on equity of 9.3% by 2019-20 (April-March). The swap ratios as announced will lead to 22% dilution as against 25% dilution estimated for the merged entity, the brokerage said. At 2.37 pm, shares of the company were 0.4 percent higher at Rs 119.90. (Cogencis)

  • Eicher Motors continues downtrend on poor December sales##Eicher Motors continues downtrend on poor December sales

    Eicher Motors shares traded at Rs 20,364.50, trading lower by 3.77 percent at 2.08 pm. The stock has declined by 13.37 percent in the last one month. The stock was the top drag on Nifty Auto, which slipped by over a percent with 13 stocks declining against 3 advancing. MRF, TVS Motors and Bajaj Auto traded positive. Meanwhile, the Nifty gave up 10,700 mark, trading nearly a percent lower, while the Sensex was lower by nearly 350 points, trading at 35,542 at 2.15 pm.

    ALSO READ: This largecap auto stock has lost over Rs 2,800 per share in last 2 days

  • Market slips to day's low again, Nifty now down around 1%##Market slips to day's low again, Nifty now down around 1%

  • Market upate: Sensex down by over 300 points, Nifty gives up 10,700##Market upate: Sensex down by over 300 points, Nifty gives up 10,700


    The Sensex traded 319 points lower, or 0.89 percent, at 35,572 at 1.55 pm. The Nifty gave up 10,700, trading lower by 106 points, or 0.99 percent, at 10,686. Broader markets outperformed with the Nifty MidCap down by 0.41 percent. Bank Nifty traded lower by 0.75 percent. 

  • Market upate: Sensex down by over 300 points, Nifty gives up 10,700##Market upate: Sensex down by over 300 points, Nifty gives up 10,700


    The Sensex traded 319 points lower, or 0.89 percent, at 35,572 at 1.55 pm. The Nifty gave up 10,700, trading lower by 106 points, or 0.99 percent, at 10,686. Broader markets outperformed with the Nifty MidCap down by 0.41 percent. Bank Nifty traded lower by 0.75 percent. 

  • Kolte-Patil surges 6% on heavy volumes##Kolte-Patil surges 6% on heavy volumes


    Shares of Kolte-Patil Developers gained 6 percent to hit their three-month high of Rs 273.70 backed by heavy volumes. So far today, over 393,409 shares of the company have changed hands on the NSE, much higher than the three-month daily average of 94,053 shares. Shares of the company traded 4.2 percent higher at Rs 268.50. 

  • Here's what banks have written to the RBI##Here's what banks have written to the RBI

  • Tube Investments at a lifetime high backed by volumes##Tube Investments at a lifetime high backed by volumes

    Shares of Tube Investments of India surged 11 percent to hit their lifetime high of Rs 391.95 backed by heavy trading volumes. So far today, over 865,000 shares of the company have changed hands on the National Stock Exchange, over ten times the daily average volume of 85,220 shares. 

  • M&M Financial Services plans to raise up to Rs 3,500 crore via NCDs##M&M Financial Services plans to raise up to Rs 3,500 crore via NCDs


    Mahindra & Mahindra Financial Services plans to raise up to Rs 3,500 crore through public issue of non-convertible debentures (NCDs). The company plans to undertake a public issue of NCDs for an amount aggregating up to Rs 500 crore (base issue size), opening on January 04, 2019. The issue will close on January 25. It will have an option to retain oversubscription up to to Rs 3,000 crore aggregating up to Rs 3,500 crore (tranche I issue).

  • Alembic Pharma gets USFDA approval##Alembic Pharma gets USFDA approval


    The company has received USFDA (US Food & Drug Administration) approval Pramipexole Dihydrochloride extended-release tablets, 0.375 mg, 0.75 mg, 1.5 mg, 2.25 mg, 3 mg, 3.75 mg, and 4.5 mg.

  • Vodafone Idea slips on weak subscriber data##Vodafone Idea slips on weak subscriber data


    Vodafone Idea shares hit their lowest in three weeks, dropping as much as 5.2 percent, while shares in Bharti Airtel fell 1.5 percent. Shares in Mahanagar Telephone Nigam Ltd, which has a total of 3.5 million users, fell up to 6.7 percent. Vodafone Idea, the country's largest telecom operator by subscribers, lost 7.4 million users, while Bharti Airtel Ltd, the No. 2 telecom firm, lost 1.9 million subscribers during the month. Reliance Jio Infocomm Ltd added 10.5 million subscribers to its network, making it the third biggest in the country.

  • NMDC falls 3% on report company cuts iron lump, fines prices##NMDC falls 3% on report company cuts iron lump, fines prices

    Shares of NMDC fell 3 percent after a media report said the company has cut prices for iron lumps and fines for January. NMDC has reportedly slashed prices of iron lumps by Rs 350 per tonne and those of iron fines by Rs 300 per tonne. The company has cut prices for its products for at least the second month in a row, indicating softening global iron ore prices. At 10.20 am, shares of NMDC traded 2.3 percent lower at Rs 94.60.

  • Market update: Sensex, Nifty trade positive, Dena Bank plunges 20%, BoB gains 3.3%##Market update: Sensex, Nifty trade positive, Dena Bank plunges 20%, BoB gains 3.3%

    The broader 50-share Nifty traded above 10,800, marginally up by 12 points. The Sensex gained by 67 points, or 0.19 percent, to trade at 35,968. At 10.28 am, Dena Bank shares were still down by 18.16 percent, Vijaya Bank by 6.37 percent, while Bank of Baroda shares gained 1.34 percent.

  • Eicher Motors extends losses as December motorcycle sales dip##Eicher Motors extends losses as December motorcycle sales dip


    Shares of Eicher Motors extended losses and fell 3 percent to hit their one-month low of Rs 20,635.05 after the company's motorcycle sales in December nosedived 13 percent on year to 58,278 units. Shares of the company traded 2.55 percent lower at Rs 20,622.

  • Sensex heatmap at 9.33 am: HUL, Infosys surge, ONGC, Tata Steel fall##Sensex heatmap at 9.33 am: HUL, Infosys surge, ONGC, Tata Steel fall

    Closing Bell: Nifty ends below 10,700, Sensex falls 377 points, HDFC twins, Reliance Industries, L&T, TCS, M&M drag
  • Opening Bell: Sensex, Nifty start flat on weak Asian cues, OMCs fall##Opening Bell: Sensex, Nifty start flat on weak Asian cues, OMCs fall

    The Sensex traded at 35,867, down by 24 points, or 0.07 percent in initial trade, while the Nifty started below 10,800, slipping 18.50 points, or 0.17 percent, at 10,774. The Nifty MidCap was mildly up by 0.12 percent and the Nifty Bank was mildly down by 0.08 percent. Sun Pharma, Bharti Infratel, TCS, Asian Paints and Infosys gained in early trade, while Eicher Motors, JSW Steel, Tata Steel, Vedanta and M&M dipped. 

    Denak Bank shares tanked 19 percent, Vijaya Bank shares dipped 6 percent, but Bank of Baroda shares went up by 3 perncet. Vodafone Idea shares slipped 3 percent as the company lost 7.4 million users in October. Adani Gas shares gained 2 percent as the company riases CNG, PNG prices in Ahmedabad, Vadodara.

  • For Warren Buffett, sinking Apple shares a wish come true##For Warren Buffett, sinking Apple shares a wish come true


    Billionaire Warren Buffett has said he would love to see Apple Inc shares decline in price so he could buy more. He is getting his wish.

    Read full report here

  • Rupee opens at 70.29 against the US dollar, Sensex, Nifty set for flat start##Rupee opens at 70.29 against the US dollar, Sensex, Nifty set for flat start

    The Indian rupee opened at 70.29 against the US dollar, rising from Wednesday's close of 70.17. The Sensex settled at 35,934.63, up by 43.11 points, or 0.1 percent at 9.08 am, while the Nifty was at 10,796, mildly up by 4.30 points. The Nifty MidCap was up by 0.06 percent and Bank Nifty was flat.

  • Here's what market experts Ashwani Gujral, Sudarshan Sukhani and Prakash Gaba are recommending today##Here's what market experts Ashwani Gujral, Sudarshan Sukhani and Prakash Gaba are recommending today


    Ashwani Gujral of ashwanigujral.com

    Buy ICICI Bank with a stop loss of Rs 360, target of Rs 374.

    Buy HDFC Bank with a stop loss of Rs 2100, target of Rs 2175.

    Buy Hindustan Unilever with a stop loss of Rs 1770, target of Rs 1810.

    Buy NCC with a stop loss of Rs 87, target of Rs 95.

    Buy NBCC with a stop loss of Rs 56, target of Rs 64.

    Sudarshan Sukhani of s2analytics.com

    Buy Sun Pharma with stop loss at Rs 430 and target of Rs 450.

    Buy Marico with stop loss at Rs 368 and target of Rs 380.

    Buy ICICI Bank with stop loss at Rs 360 and target of Rs 370.

    Sell JSW Steel with stop loss at Rs 290 and target of Rs 282.

    Sell Bharat Forge with stop loss at Rs 500 and target of Rs 483.

    Prakash Gaba of prakashgaba.com


    Buy BEL with target at Rs 92 and  stop loss at Rs 87.

    Buy BEML with target at Rs 950 and stop loss at Rs 910.

    Sell Bharat Forge with target at Rs 480 and stop loss at Rs 510.

    Sell Tata Motors with target at Rs 162 and stop loss at Rs 171.

  • After brutal 2018, world stocks nurse New Year's hangover##After brutal 2018, world stocks nurse New Year's hangover


    World shares began 2019 on a downbeat note, oil prices and bond yields skidded lower and the Japanese yen strengthened on Wednesday as data from China to France confirmed investors' fears of a global economic slowdown.

    Read full report here

  • Eicher Motors shares tank 8.5% as December two-wheeler sales nosedive##Eicher Motors shares tank 8.5% as December two-wheeler sales nosedive


    Shares of Eicher Motors fell more than 8.5 percent on Wednesday on poor December sales numbers. The stock has fallen after three days of consecutive gain, underperforming the sector by 3.6 percent.


    Read full report here

  • Here's what CLSA's Chris Wood has to say in his Greed & Fear report##Here's what CLSA's Chris Wood has to say in his Greed & Fear report

  • 10 things you need to know before the opening bell##10 things you need to know before the opening bell


    Asia: MSCI's broadest gauge of Asia-Pacific shares outside Japan slipped 0.2 percent early in the Asian day and losses were expected to mount when trading opened in more tech-heavy markets in the region. A jump in Australian shares, which rose 1.3 percent, helped to offset weakness elsewhere in the region after its currency fell to near decade lows, boosting exporters.

    Oil Prices: US West Texas Intermediate (WTI) crude oil futures were at $45.83 per barrel at 0120 GMT, down 71 cents, or 1.5 percent, from their last settlement. International Brent crude futures were down 51 cents, or 0.9 percent, at $54.40 per barrel.

    Rupee: The rupee closed at 70.17, down by 72 paise against the dollar on Wednesday.

    Check more market opening cues

    ALSO READ: Top stocks to watch out for on January 3: Bank of Baroda, Jet Airways, Vedanta, Reliance Industries

  • US markets ended with minor gains and other major global cues##US markets ended with minor gains and other major global cues

    Markets: Global investors returned from New Year holidays quite cautious. Ongoing risks like market volatility, politics and weaker economic data were once again highlighted. News regarding US government shutdown and a string of soft PMI prints globally, did not help sentiment. Apple cited an "unforeseen slowdown in China" to make a lower revenue guidance.
     
    So what happened: In FX, this led to a broad USD rally. Equities and yields traded heavy. Close: Dow +0.08%, SPX +0.13%, Nasdaq +0.46%Oil markets found a mysterious bid. Looking ahead, with Japan still on holiday and no major data scheduled, it might be another quiet Asian session.
     
    Oil's bounce: Brent and WTI tracked equities lower initially. But then a sharp bounce led WTI from $44.50 to the $47.80 area. There were no real headlines to explain this move.
     
    US government shutdown: Donald Trump and congressional Democrats failed to reach a breakthrough on border security funding after a summit at the White House. As she exited the White House, Nancy Pelosi, who is poised to become speaker of the House of Representative said - “A question to the president and Republicans is: Why don't you accept what you have already done to open up the government?" Remember, Trump insists on more than $5 billion in border wall funding — a figure Democrats say they will not accept.
     
    Trump on markets: Trump weighed in after the London close. He called the stock market’s December slump a “glitch,” adding expectations that once trade deals are “settled,” stocks will go up.

  • Apple cuts forecast, citing weak China sales amid trade tensions##Apple cuts forecast, citing weak China sales amid trade tensions


    Apple Inc on Wednesday cut its sales forecast for its latest quarter, with chief executive Tim Cook blaming slowing iPhone sales in China, whose economy has been dragged down by uncertainty around US-China trade relations.

    Read full report here

  • Here's what Citi has to say on the Indian economy##Here's what Citi has to say on the Indian economy

  • Tight liquidity condition, low demand hit auto sales##Tight liquidity condition, low demand hit auto sales

    Tight liquidity condition and low buying sentiment dented the monthly sales of some Indian automobile manufacturers in December. As per Maruti Suzuki India's monthly sales figures, a total of 128,338 units were sold last month, compared to 130,066 units' off-take recorded during the corresponding period of the last financial year.

    Read full report here