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Closing Bell: Sensex, Nifty end lower dragged by bank, financial shares, IT, pharma too dip, metal, RIL shine

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Equity indices ended lower, snapping four day gaining streak, on sustained selling pressure and profit-booking across sectors, barring metal and media. The BSE Sensex ended lower by nearly 85 points, or 0.22 percent, to settle at 38,251.80, while the NSE Nifty 50 closed over 25 points lower, or 0.22 percent, to end at 11,557. Shares of Reliance Industries gained for the 5th day in a row, supporting indexes, which otherwise were dragged lower by financials contributing 19 points to Nifty's decline. IT and pharma also saw profit-booking after last few days of gains. Four of the top 5 Nifty index losers are from financials. Nifty Bank ends lower over half a percent with as many as 8 stocks ending in the red. For the week, the Sensex and Nifty gain 0.8 percent, while Nifty MidCap index surged by a percent for the week. Nifty Bank slipped lower by a percent for the week. Here are the main highlights from the stock markets today:

Closing Bell: Sensex, Nifty end lower dragged by bank, financial shares, IT, pharma too dip, metal, RIL shine
  • Vedanta ended as top Sensex gainer, while Yes Bank top laggard##Vedanta ended as top Sensex gainer, while Yes Bank top laggard

    Closing Bell: Sensex, Nifty end lower dragged by bank, financial shares, IT, pharma too dip, metal, RIL shine
  • Market Close: Sensex, Nifty end lower on sustained selling, profit-booking##Market Close: Sensex, Nifty end lower on sustained selling, profit-booking

    Equity indices ended lower, snapping four day gaining streak, on sustained selling pressure across sectors, barring metal and media. The BSE Sensex ended lower by nearly 85 points, or 0.22 percent, to settle at 38,251.80, while the NSE Nifty 50 closed over 25 points lower, or 0.22 percent, to end at 11,557. Shares of Reliance Industries gained for the 5th day in a row, supporting indexes, which otherwise were dragged lower by financials contributing 19 points to Nifty's decline. IT and pharma also saw profit-booking after last few days of gains. Four of the top 5 Nifty index losers are from financials. Nifty Bank ends lower over half a percent with as many as 8 stocks ending in the red. For the week, the Sensex and Nifty gain 0.8 percent, while Nifty MidCap index surged by a percent for the week. Nifty Bank slipped lower by a percent for the week.

  • Nifty Metal trades 1.86% higher, JSW Steel, Vedanta top gainers##Nifty Metal trades 1.86% higher, JSW Steel, Vedanta top gainers

    Closing Bell: Sensex, Nifty end lower dragged by bank, financial shares, IT, pharma too dip, metal, RIL shine
  • Cadila Healthcare shares trade 2.70% higher, Nifty Pharma recovers##Cadila Healthcare shares trade 2.70% higher, Nifty Pharma recovers

    Cadila Healthcare shares were trading higher by 2.70 percent at Rs 402. Intra-day, the pharma company's stock ranged between a high and a low of Rs 402 and Rs 381.20 on the NSE. The US FDA successfully completed inspection of Cadila's Ahmedabad facility of Zydus Bilologics. Nifty Pharma recovered after suffering losses for most of the day. The indice traded flat, lower by 0.06 percent with as many as 6 stocks advancing against 4 declines.

  • JBF Industries rises nearly 5% after stake dilution##JBF Industries rises nearly 5% after stake dilution


    Shares of JBF Industries traded higher by nearly 5 percent at Rs 37.25 on the BSE at 3.15 pm. The company's promoter sold 4.1 percent stake in open market from August 3-14.

  • Zensar sees a sharp surge as it nears market closing##Zensar sees a sharp surge as it nears market closing

  • Bandhan Bank recovers from early lows, rises 1.18%##Bandhan Bank recovers from early lows, rises 1.18%

    Shares of Bandhan Bank surged 1.18 percent to trade at Rs 674.30 at 2.58 pm on the BSE. The stock touched an intra-day low of Rs 611.80 after reports that the bank is in the fray to acquire a controlling stake in PNB Housing Finance. Bandhan Bank's stock has shot up by 87 percent within five months of its listing on bourses.

    Meanwhile, indices traded weak in less than half an hour of close. The Sensex was trading nearly 85 points lower, or 0.22 percent, to 38,2525, while the Nifty 50 was defending 11,550 mark, up by 25 points, or 0.22 percent, to trade at 11,557. 

  • Pfizer, Srei Infra, Bhela among gainers on BSE 500, Hexaware Tech top loser##Pfizer, Srei Infra, Bhela among gainers on BSE 500, Hexaware Tech top loser

    Closing Bell: Sensex, Nifty end lower dragged by bank, financial shares, IT, pharma too dip, metal, RIL shine
  • HDFC Standard appoints James Aird as alternate director with effect from August 23##HDFC Standard appoints James Aird as alternate director with effect from August 23

  • Axis Bank shares rise on reports of Amitabh Chaudhry to be next CEO##Axis Bank shares rise on reports of Amitabh Chaudhry to be next CEO

    Shares of Axis Bank rose nearly 2 percent to trade near its lifetime high on reports that Amitabh Chaudhry, managing director and chief executive officer (CEO) at HDFC Life Insurance will replace, CEO Shikha Sharma, whose term ends in December 2018. Speculation about Chaudhry replacing Sharma rose after a block deal transaction showed that the former sold Rs 557.7 million worth of shares of HDFC Life Insurance between April-August this year. The Reserve Bank of India (RBI) had asked the Axis Bank's board to "reconsider" the appointment of Sharma for a fourth term after it was found under-reporting bad loans as well as shrinking financial performance under her tenure. (Copgencis

    Shares traded at Rs 639.95, higher by 1.29 percent on the BSE at 2.17 pm. Meanwhile, the BSE Sensex was trading near 38,300 level, at 38,295.82, down by 40.94 points, or lower by 0.11 percent. The NSE Nifty 50 was at 11,567.55, lower by 15.20 points, or 0.13 percent.

  • 12.5 lakh shares of Ashok Leyland change hands on BSE##12.5 lakh shares of Ashok Leyland change hands on BSE

  • Raymond shares rise 3%, company plans to sell land in Thane to cut debt##Raymond shares rise 3%, company plans to sell land in Thane to cut debt

    Shares of Raymond rose 3% today over reports that to cut its debt, the company plans to sell its land in Thane, Maharashtra, the development of which was recently sanctioned by its board. Shared trade at Rs 814.05, up by 1.38 percent, on the BSE at 1.18 pm. Intra-day, it touched a high of Rs 823.75, after opening at Rs 813. The benchmark BSE Sensex was trading lower by 82 points, or 0.22 percent, at 38,254.

  • Nine out of 10 stocks on Nifty Pharma declined, indice down by 1.34%##Nine out of 10 stocks on Nifty Pharma declined, indice down by 1.34%

    Closing Bell: Sensex, Nifty end lower dragged by bank, financial shares, IT, pharma too dip, metal, RIL shine
  • SC refuses to pass interim order on DoT's plea against TDSAT##SC refuses to pass interim order on DoT's plea against TDSAT

  • ONGC shares at a month's high##ONGC shares at a month's high

    ONGC shares jumped 2.5 percent to hit a one-month high of Rs 176.15, and was the second best performer among Nifty 50 stocks this week. Over the week shares of Oil & Natural Gas Corp. rose 7.5 percent due to a rise in global crude oil prices, and with US sanctions against Iran oil exports taking effect from November, crude prices are likely to move higher. At 11.47 IST, ONGC shares were up 2 percent at Rs 175.35. So far in 2018, the scrip was down 10.2 percent. Meanwhile, the BSE Sensex is dipped by over 100 points, or 0.27 percent, to 38,233.13. The Nifty 50 also declined by 0.24 percent, or 27 points, to 11,555.35. 

  • Market update: Sensex, Nifty slip into red, pharma, private bank stocks dip##Market update: Sensex, Nifty slip into red, pharma, private bank stocks dip


    The BSE Sensex traded at 38,311.77, down 25 points, or 0.07 percent, while the NSE Nifty 50  was lower by 11.50 points, or 0.10 percent, to trade at 11,571.25. Shares of ONGC, Wipro, Power Grid, Coal India, Vedanta gained by up to 1.89 percent on the BSE, while Yes Bank, ICICI Bank, Sun Pharma, IndusInd Bank, Infosys dipped by 2.47 percent. Nifty gainers include UPL, ONGC, Power Grid, Wipro, Grasim, rising by up to 3.33 percent, while the laggards on the 50-share broader index were Yes Bank, Titan Company, ICICI Bank, Cipla, Hindalo, falling by up to 2.56 percent. Midcaps were flat, while sectoral indices on the NSE were mostly in the red with the exception of Auto, IT, Metal and Realty. Pharma, PVT Bank, FMCG, Media were all trading lower. Nifty Bank was down by 0.37 percent.

  • Colgate India falls as CLSA raises governance concerns##Colgate India falls as CLSA raises governance concerns


    Shares of Colgate Palmolive India fell 3 percent after brokerage firm CLSA Asia Pacific Markets raised concern over Colgate Palmolive Asia Pacific Markets' purchase of stake in Bombay Shaving Co. Colgate Asia Pacific's acquisition of Bombay Shaving Co raises concern over governance due to overlap in category, the brokerage firm said in a note today. The brokerage firm believes that the acquisition of stake by Colgate Palmolive India would have made sense instead of that by the Hong Kong-based subsidiary. (Cogencis)

    Shares of Colgate-Palmolive India traded lower by 1.59 percent, or by Rs 18.90, at Rs 1171.50 on the BSE at 10.02 am.

  • Market update: Hexaware Technologies down 14.5%, Sensex, Nifty edge up after tepid start##Market update: Hexaware Technologies down 14.5%, Sensex, Nifty edge up after tepid start

    Shares of Hexaware Technologies were down 14.3 percent on heavy volumes on report Barings PE Asia to sell 8.4 percent stake in the company. Shares traded at Rs 425.70, down by 14.47 percent, losing Rs 72 in value, at 9.52 am on the BSE. Meanwhile, the benchmark BSE Sensex recovered after tepid start. The Sensex was trading higher by 46 points, or 0.12 percent up, to trade at 38, 382. The NSE Nifty 50 also edged up to 11,588.85, rising by 6.10, points, or 0.05 percent higher. 


    Shares of Ruchi Soya Industries has locked at 5 percent upper circuit on Friday as company's lenders approved Adani Wilmar bid for the company. There were pending buy orders of 389,359 shares, with no sellers available. Shares were last quoting at Rs 9.42, up Rs 0.44, or by 4.90 percent.

  • Axis Bank, Power Grid, Tata Steel, SBI, HDFC Bank among Sensex gainers, ICICI Bank slips##Axis Bank, Power Grid, Tata Steel, SBI, HDFC Bank among Sensex gainers, ICICI Bank slips

    Closing Bell: Sensex, Nifty end lower dragged by bank, financial shares, IT, pharma too dip, metal, RIL shine
  • Opening Bell: Sensex, Nifty start lower on weak rupee, Asian cues##Opening Bell: Sensex, Nifty start lower on weak rupee, Asian cues

    Indian equity indices started on a subdued note on Friday, tracking weakness in the Indian rupee and global cues. The BSE Sensex was trading lower by 30 points, or 0.08 percent, to 38,306. In pre-open trade, the Sensex settled at 38,366.79, up by 30 points, or 0.08 percent. The NSE Nifty 50 too opened weak with the 50-share index trading lower by 21 points, or 0.18 percent, to 11,562.

  • Rupee opens weak at 70.19 against the dollar##Rupee opens weak at 70.19 against the dollar

    The Indian rupee opened weaker at 70.19 against the dollar on Friday. It had ended at 70.11 per dollar, a loss of 30 paise or 0.43 percent on Thursday over the previous close.

  • SGX Nifty indicates a lower opening for Indian equities##SGX Nifty indicates a lower opening for Indian equities

  • WhatsApp rejects government demand of tracing message origins##WhatsApp rejects government demand of tracing message origins

    Whatsapp has said it cannot build software to trace the origin of a message on its platform, turning down a demand from the Indian government that wanted such a solution to track down fake or false information that has led to crimes like mob-lynching. The company continues to hold its stance that it cannot trace the origin of messages because of end-to-end encryption.

  • Indian ADRs end lower on Thursday on weakness in US markets##Indian ADRs end lower on Thursday on weakness in US markets


    American Depositary Receipts of Indian companies ended lower on Thursday tracking US equity markets which fell as concern over US-China trade war resurfaced. ADRs of Tata Motors were the worst hit, down 4.1 percent following reports that the US will levy a 25 percent import duty on cars made in Europe. ADRs of Azure Power Global, Dr Reddy's Laboratories, MakeMyTrip and Yatra Online were the only gainers, up 0.2-1.5 percent, while those of ICICI Bank, HDFC Bank, Infosys, Vedanta, Wipro and Sify were the laggards, falling 0.6-3.2 percent. (Cogencis)

  • Here is the list of stocks to watch for today##Here is the list of stocks to watch for today

  • RBI has no control over governance of PSU banks, says former governor YV Reddy##RBI has no control over governance of PSU banks, says former governor YV Reddy


    Former RBI governor YV Reddy backed current governor Urjit Patel and said the RBI does not exert control over the country's debt-laden public sector banks. The government had committed to the handover of governance of PSBs to the RBI as recommended by the Narasimhan Committee, but had not completed the process, he said. Watch full interview here.

  • 96% of Ruchi Soya's CoC voted in favour of Adani Wilmar's resolution plan: CNBC-TV18##96% of Ruchi Soya's CoC voted in favour of Adani Wilmar's resolution plan: CNBC-TV18

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  • These are the stocks making the biggest moves premarket##These are the stocks making the biggest moves premarket

    TVS Motor: The company launched the TVS Radeon and priced it at a competitive Rs 48,400 (ex-showroom, Delhi), given its commuter segment a whole new lease of life.

    HDFC Standard Life Insurance: Amitabh Chaudhry, MD and CEO of the company sold 2,56,471 shares via market sale from August 20-21, 2018.

    Reliance Industries: RIL became the first listed company to see its market capitalisation cross Rs 8 lakh crore.

    Britannia Industries: The board of the firm approved share split in 1:2 ratio to make the stock more affordable for the small retail investors and increase liquidity. The Kolkata-based company will split the shares with a face value of Rs 2 into two equity shares of Re 1 each.

    Music Broadcast: The board considered resignation of Abraham Thomas from the post of CEO and appointment of Ashit Kukian to take over as CEO.

    HAL: Hindustan Aeronautics Ltd, the manufacturer of Tejas fighter aircraft, has given a contract of Rs 100 crore to National Aerospace Laboratory to supply equipment for the Light Combat Aircraft.

    Check for more Hot Stocks Today.

  • Trade setup ahead of market opening today, Brent crude at $75 a big factor##Trade setup ahead of market opening today, Brent crude at $75 a big factor

  • Here's how brokerages rate specific stocks##Here's how brokerages rate specific stocks

    GDP growth in Kerala could get affected by 100 bps, says Macquarie on ICICI Lombard; UNDERPERFORM at a TP of Rs 585.

    Deutsche Bank sees a lot of positives for BHEL, masked by a rise in receivables, maintains rating but cuts target; BUY at a TP of Rs 110.

    Jefferies maintains BUY rating on Nestle at a TP of Rs 11,800.

    Apollo Hospitals' recovery delayed but not derailed, says Nomura; BUY at a TP of Rs 1,340.

    May see a marginal year-to-date underperformance to Nifty , says Jefferies on L&T; BUY at a TP of Rs 1,925.

    Insurers expect the regulator to allow comprehensive long-term policies, says HSBC on Non-life Insurance; REDUCE on ICICI Lombard at a TP of Rs 640 per share.

    With stable asset quality, ICICI Bank stock's valuation can re-rate, CLSA believes; BUY at a TP of Rs 430.

    Company may see several integration risks if bid for PNB Housing, says Macquarie on Bandhan Bank; OUTPERFORM at a TP of Rs 561.

    Company intends to keep its focus on specialty segments, says Citi on Eris Life; BUY at a TP of Rs 850.