Closing Bell: Sensex slumps 700 points, Nifty below 10,800 on global sell-off, Reliance, Infosys, ICICI Bank, HDFC Bank, TCS, ITC drag

Sensex heatmap at close: NTPC top gainer, Wipro top loser##Sensex heatmap at close: NTPC top gainer, Wipro top loser

Closing Bell: Sensex, Nifty shed 2%, only 5 Nifty stocks in the green##Closing Bell: Sensex, Nifty shed 2%, only 5 Nifty stocks in the green

The Sensex settled at 35,742, down by 689 points, or 1.89 percent, while the Nifty closed 200.70 points lower, or 1.83 percent, to settle at 10,751. Benchmark indexes turned negative for the week. Only 5 stocks advanced on the NSE frontline index. HPCL, BPCL, Coal India, NTPC, PowerGrid Corp, gained by up to 2.31 percent. IOC, UPL, Adani Ports, ZEEL, Maruti Suzuki, dipped by up to 5.44 percent. The Nifty MidCap plunged 1.58 percent and the BSE MidCap declined 1.79 percent. Reliance Industries, TCS, Infosys and HDFC twins dragged indexes, while ICICI Bank and HDFC Bank contributed around 300 points to Nifty Bank fall.  

Bank unions call for strike; demand better pay, withdrawal of BoB, Vijaya bank, Dena Bank merger##Bank unions call for strike; demand better pay, withdrawal of BoB, Vijaya bank, Dena Bank merger

A union of public sector bank officers has called for a strike on Friday, demanding immediate wage revision and protesting merger of the state-owned banks. The strike call given by the All India Bank Officers’ Confederation (AIBOC) expected to hit banking operations across the country. While the United Forum of Bank Unions (UFBU), an umbrella body of the top nine bank unions, has also decided to observe a strike on December 26.

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Zee Entertainment down 9% this week, worst hit among Nifty 50##Zee Entertainment down 9% this week, worst hit among Nifty 50

Shares of Zee Entertainment Enterprises were the worst hit on the Nifty 50 index this week, down nearly 9 percent after the Bank of America Merrill Lynch downgraded the company's shares. The foreign brokerage said that the company is susceptible to de-rating, given its lack of technological expertise in an intensely competitive market for digital content. The brokerage had also slashed the target price for the shares by more than 20 percent to Rs 375.

Sensex, Nifty turn negative for the week##Sensex, Nifty turn negative for the week

Aurobindo Pharma receives USFDA approval, Sensex falls over 500 points, Nifty gives up 10,800##Aurobindo Pharma receives USFDA approval, Sensex falls over 500 points, Nifty gives up 10,800

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Potassium Chloride ExtendedRelease tablets, 8 mEq (600 mg) and 10 mEq (750 mg). Shares traded at Rs 717.80, down by 1.07 percent on the NSE at 2.23 pm. Meanwhile, benchmark indexes extended losses with the Sensex falling over 552 points, or 1.52 percent, to 35,870.20. The Nifty declined 170 points, or 1.55 percent, to trade at 10,781.

UPL down 4% due to concerns over weak demand in Europe##UPL down 4% due to concerns over weak demand in Europe

Shares of UPL fell over 4 percent due to concerns about a slowdown in demand in Europe, even as the company said that the drought in Europe would not impact its sales. The stock had fallen earlier this week due to concerns that a drought situation and heat waves in Europe earlier in the year might impact demand for agrochemical products. Europe accounts for about 13 percent of the company's sales. 

Texmaco Rail off lows on Rs 5 billion order win, Sensex slips below 36,000##Texmaco Rail off lows on Rs 5 billion order win, Sensex slips below 36,000

Shares of Texmaco Rail & Engineering were off lows after the company won an order worth Rs 5 billion from the Indian Railways in a tender for 1,621 wagons. At 1.20 pm, shares of the company traded 1.1 percent lower at Rs 59.10. So far today, 886,363 shares of the company exchanged hands on NSE, higher than the one-month, three-month and six-month daily average volumes. Meanwhile, the Sensex slipped below 36,000, trading at 35,980, plunging by 451 points, or 1.24 percent, while the Nifty50 dipped 137 points, or 1.25 percent, to trade at 10,814.

HPCL received license of 12 geographical areas for city gas distribution, says CMD Suran##HPCL received license of 12 geographical areas for city gas distribution, says CMD Surana

CNBC-TV18 spoke to MK Surana, chairman and managing director at Hindustan Petroleum Corp Ltd (HPCL) about the prospects for OMCs for the rest of the financial year. Surana also spoke about the company's gas distribution business after getting license of 12 areas.

Click to read and watch full interview here

Bharti Infratel falls as Bharti Airtel may sell stake##Bharti Infratel falls as Bharti Airtel may sell stake

Shares of Bharti Infratel fell over 4 percent to Rs 250 as promoter Bharti Airtel intends to sell stake in the telecom infrastructure company. Bharti Airtel has decided to transfer 32 percent of its stake in tower arm Bharti Infratel to its wholly owned subsidiary Nettle Infrastructure Investments to monetise the stake later. After the transfer of about 591.87 million shares is completed, Bharti Airtel's stake in Bharti Infratel will fall to 18.33 percent, while that of Nettle Infrastructure will rise to 35.18 percent.

Voltas shares under pressure, falls 1.5%##Voltas shares under pressure, falls 1.5%

Voltas shares declined 1.5 percent in morning on Friday after Motilal Oswal cut its earnings estimates for current as well as next financial year.

Indian Hume Pipe surges 8% on Rs 5 billion order##Indian Hume Pipe surges 8% on Rs 5 billion order

Shares of Indian Hume Pipe Co gained 8 percent to hit their six-month high of Rs 368.30 after the company said it has received an order worth Rs 5.03 billion from Andhra Pradesh Drinking Water Supply Corp for a project in Guntur district. The company said the drinking water supply project is expected to be completed in two years. On Thursday, shares of the company traded 3.5 percent higher at Rs 353.30. So far in 2018, the stock has shed 21 percent. 

CG Power surges over 7% to 1-month high##CG Power surges over 7% to 1-month high

Shares of CG Power and Industrial Solutions surged over 7 percent to a one-month high of Rs 43.15 spurred by hopes of the company showing better October-December results. Shares of the company were up 5 percent at Rs 42.20, with around 9.3 million shares traded on the NSE versus a daily average of 3.8 million shares. However, so far in 2018, shares of CG Power have fallen 55 percent.

Indiabulls Real Estate jumps 4%##Indiabulls Real Estate jumps 4%

Shares of Indiabulls Real Estate rose nearly 4 percent in early trade after selling its 50 percent stake in two office spaces in Gurugram to the US-based Blacktone Group for Rs 464 crore. The company had said in November that it has signed a non-binding agreement to divest its 50 percent stake in two office assets in Udyog Vihar, Gurugram, but had not named the buyer.

Most heavyweight stocks on Nifty trade with cuts##Most heavyweight stocks on Nifty trade with cuts