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Closing Bell: Sensex ends in the red, Nifty flat, energy, metal, bank stocks dip, IT, pharma rise

Mini

Indian equity indexes ended largely flat on Friday, after trading under pressure for much of the day, dragged lower by energy, metal and bank stocks. The BSE Sensex ended lower by 45 points, or 0.12 percent, to 38,645, while the NSE Nifty 50 settled marginally up by 3.70 percent, or 0.03 percent, at 11,680.50. Midcaps ended with gains of 0.35 percent. Here are the main highlights and updates from the markets today:

Closing Bell: Sensex ends in the red, Nifty flat, energy, metal, bank stocks dip, IT, pharma rise
  • Reliane Industries, Yes Bank were top drag on Sensex##Reliane Industries, Yes Bank were top drag on Sensex

    Closing Bell: Sensex ends in the red, Nifty flat, energy, metal, bank stocks dip, IT, pharma rise
  • Closing Bell: Sensex ends in the red, Nifty ends in the green##Closing Bell: Sensex ends in the red, Nifty ends in the green

    Indian equity indexes ended largely flat on Friday, after trading under pressure for much of the day, dragged lower by energy, metal and bank stocks. The BSE Sensex ended lower by 45 points, or 0.12 percent, to 38,645, while the NSE Nifty 50 settled marginally up by 3.70 percent, or 0.03 percent, at 11,680.50. Midcaps ended with gains of 0.35 percent, outperforming frontline indexes. Yes Bank contributed 10 points to Nifty's fall, being the top drag on the broader index. Index heavyweight dragged Nifty lower by 30 points, with the stock ending 2.6 percent lower. Tata Motors gained 3 percent in trade today. Overall market breadth in favour of advances with advance-decline ratio at 4:3.
     

  • SAIL falls on news co declines dividend to govt##SAIL falls on news co declines dividend to govt

    State-owned Steel Authority of India’s (SAIL) shares were down 1.9 percent at Rs 79.45, after the company declined a government call for a dividend this year, citing financial risks, Reuters reports. SAIL’s refusal could make it harder for govt to meet its budgeted target of raising Rs 1.06 trillion ($14.95 billion) from dividends and profit of state-owned companies. A SAIL spokesman told Reuters that the firm posted a loss in the 2017/18 fiscal year, “so there is no chance of a dividend.” More than 7.6 million shares change hands, 0.8 times the 30-day moving average. Seven of 19 brokerages rate the stock “buy” or higher, 5 “hold” and 7 “sell” or lower; median price target is Rs 86, according to Thomson Reuters Eikon. The stock had fallen 11.9 percent this year as of last close.

  • PNB shares gain 3.35 percent, Nifty Bank trades weak##PNB shares gain 3.35 percent, Nifty Bank trades weak

    Shares of Punjab National Bank surged 3.35 percent to trade at Rs 87.95. The public sector bank's managing director (MD) Sunil Mehta becomes the chairman of the Indian Banking Association. The stock opened at Rs 84.50 and has ranged between a high of Rs 88.40 and Rs 83.65 in intra-day trade so far. Nifty Bank traded weak, but maintained to stay above 28,000 mark. As many as 7 stocks advanced on the sectoral indice, against 5 declines. 

  • Coffee Day hits 1-month high backed by robust volumes##Coffee Day hits 1-month high backed by robust volumes


    Shares of Coffee Day Enterprises rose over 9% to a one-month high of Rs 285.80 backed by robust volumes. 1.2 million shares of the company have changed hands on NSE, much higher than the six-month daily average of 332,387 shares. At 2.50 pm, shares of the company were up 6.6 percent at Rs 278.95. (Cogencis)

  • European shares fall on renewed fear of trade conflict##European shares fall on renewed fear of trade conflict

    European shares fell for a second day on Friday on reports that US president Donald Trump is planning more tariffs on China, while Whitbread surged after clinching a $5.1 billion deal with Coca-Cola. The pan-European STOXX 600 dropped 0.5 percent by 0833 GMT, on track for its biggest decline in a fortnight. Germany's DAX, heavier in trade-sensitive industrial stocks, fell 1 percent. (Reuters)

  • Nifty IT surges 1.74%, 9 stocks advance against 1 decline##Nifty IT surges 1.74%, 9 stocks advance against 1 decline

    Closing Bell: Sensex ends in the red, Nifty flat, energy, metal, bank stocks dip, IT, pharma rise
  • KEC International shares rise after new orders worth Rs 1,010 crore##KEC International shares rise after new orders worth Rs 1,010 crore

    KEC International shares traded at Rs 304.50, up by 0.73 percent at 2.40 pm, after reports that the company secured new orders worth Rs 1,010 crore. The stock opened at Rs 302.20 and traded between a high of Rs 308.60 and a low of Rs 298.60. Meanwhile, the BSE Sensex traded weak at 38,623.32, down by 67 points, or 0.17 percent. The NSE Nifty 50 also traded lower by 12.45 points, or 0.11 percent, to trade at 11,660. 

  • Lupin Global receives USFDA approval for generic Potassium Chloride Oral Solution##Lupin Global receives USFDA approval for generic Potassium Chloride Oral Solution

  • Wipro hits 7-month high; chart suggests further upside##Wipro hits 7-month high; chart suggests further upside

    Shares of Wipro Ltd gain as much as 2.53 percent to Rs 306.5, their highest since February 1. Stock breaks above a resistance at Rs 303.15, the 38.2 percent Fibonacci projection level of the uptrend from November 9, 2016 low to January 16, 2018 high. Breakout suggests the 38.2 percent level will now act as a support, while stock may move towards the next resistance at Rs 318.45, the 50 percent level. Trend intensity (TI) indicator rises to 33, suggesting the stock is in a strong uptrend, MACD is also positive and above its signal line. Stock up 9.45 percent in the last one month as of Thursday’s close, compared with a 3.16 percent gain for the broader NSE Index. (Reuters)

  • JB Chem board approves buyback of 33.3 lakh shares at Rs 390/share##JB Chem board approves buyback of 33.3 lakh shares at Rs 390/share

  • Vedanta shares fall after iron ore royalty-related notice##Vedanta shares fall after iron ore royalty-related notice

    Shares of Vedanta fell marginally by 0.13 percent to Rs 229.50 on the BSE at 1.30 pm after the mining giant gets notice for reconciliation of royalty on iron ore. Vedanta says is cooperating with the office of Director of Mines & Geology with respect to notice. The stock has traded in a range of Rs 230 and Rs 224.10, after opening at Rs 229.70.

  • Market update: Sensex down by 121 points, Nifty holds 11,650##Market update: Sensex down by 121 points, Nifty holds 11,650

    The BSE Sensex traded at 38,568.98, down by 121 points, or 0.31 percent, while the NSE Nifty 50 was at 11,652.55, lower by 24.25 points, or 0.21 percent. Shares of Sun Pharma, Wipro, L&T, NTPC, IndusInd Bank, Lupin, Tech Mahindra, HCL Technologies, Dr Reddy's Labs rose by up to 3.73 percent, while Yes Bank, Reliance, M&M, Vedanta, Tata Steel, Bajaj Finance, Zee Entertainment fell by up to 6.26 percent. Midcaps were under pressure, trading below flatline. Sectoral indices on the NSE were mostly lower, except Pharma, IT and FMCG which traded higher by 2.28 percent, 1.47 percent and 0.08 percent, respectively. Bank indices were in the red with Nifty Bank lower by 0.44 percent, PSU Bank down by 0.85 percent and PVT Bank over half a percent loss.

  • Market update: Sensex, Nifty trade lower, metal, energy, banks under pressure##Market update: Sensex, Nifty trade lower, metal, energy, banks under pressure

    At 11.35 am, the BSE Sensex traded at 38,585, down by 105 points, or 0.27 percent, the NSE Nifty 50 traded at 11,652, lower by 25 points, or 0.21 percent. 

  • HUL, P&G, Jyothy Labs set to hike prices of detergents##HUL, P&G, Jyothy Labs set to hike prices of detergents

  • HCC drops on insolvency resolution process against Lavasa##HCC drops on insolvency resolution process against Lavasa

    Shares of Hindustan Construction Company Ltd fall as much as 8.9 percent to Rs 13.30, their lowest in nearly 2 weeks. The company said on Thursday corporate insolvency resolution process (CIRP) was initiated against its joint venture company, Lavasa Corp. Ltd. Hindustan Construction holds a 68.7 percent stake in Lavasa. Under the CIRP process, a committee will take charge of Lavasa and work towards implementation of a resolution plan within 270 days, Hindustan Construction added. Over 8.1 million shares exchanged hands vs their 30-day moving average of 17.5 million shares. Up to last close, stock had fallen 64.4 percent this year. (Reuters)

  • Jet Airways extends losses, after confirming communication from authorities##Jet Airways extends losses, after confirming communication from authorities

    Shares of India’s largest full-service airline Jet Airways (India) Ltd fell as much as 2.4 percent to Rs 280, continuing its decline for the third straight session. The aviation company says it received communication from the office of Registrar of Companies (RoC) seeking comments and explanations in response to a complaint received by their office. The airline added it is taking steps to submit its responses and is unable to comment on any media reports on the subject. The stock had dropped 3 percent on August 21 after a media report that India’s corporate affairs ministry was probing allegations of siphoning of funds at Jet Airways. The company said at the time it had not received any communication from the ministry. Jet Airways, part-owned by Etihad Airways, posted its second consecutive quarterly loss on Monday and unveiled a cost cutting strategy. Up to last close, stock had fallen 65.5 percent this year. (Reuters)

    Shares were trading at Rs 282.65, down by 1.43 percent at 10.30 am on the BSE. The Sensex was down by 23 points to 38,667, trading lower after the first hour of trade marked by volatility.

  • Jet Airways extends losses, after confirming communication from authorities##Jet Airways extends losses, after confirming communication from authorities

    Shares of India’s largest full-service airline Jet Airways (India) Ltd fell as much as 2.4 percent to Rs 280, continuing its decline for the third straight session. The aviation company says it received communication from the office of Registrar of Companies (RoC) seeking comments and explanations in response to a complaint received by their office. The airline added it is taking steps to submit its responses and is unable to comment on any media reports on the subject. The stock had dropped 3 percent on August 21 after a media report that India’s corporate affairs ministry was probing allegations of siphoning of funds at Jet Airways. The company said at the time it had not received any communication from the ministry. Jet Airways, part-owned by Etihad Airways, posted its second consecutive quarterly loss on Monday and unveiled a cost cutting strategy. Up to last close, stock had fallen 65.5 percent this year. (Reuters)

    Shares were trading at Rs 282.65, down by 1.43 percent at 10.30 am on the BSE. The Sensex was down by 23 points to 38,667, trading lower after the first hour of trade marked by volatility.

  • Idea jumps after NCLT clears Idea-Vodafone deal##Idea jumps after NCLT clears Idea-Vodafone deal

    Idea Cellular Ltd shares were up 2.9 percent at Rs 51.25. Idea, a part of the Aditya Birla conglomerate, and Vodafone Plc have cleared the last regulatory hurdle to merge their operations in India. ​More than 17.9 million shares changed hands, 2 times the 30-day moving average. The stock had fallen 53.9 percent this year as of last close. Shares were trading at Rs 50.60, higher by 1.50 percent at 10.25 am. 

  • Jet Airways management has commenced execution of turnaround strategy##Jet Airways management has commenced execution of turnaround strategy

  • Nifty Pharma advance 2.59%, all stocks advance##Nifty Pharma advance 2.59%, all stocks advance

    Closing Bell: Sensex ends in the red, Nifty flat, energy, metal, bank stocks dip, IT, pharma rise
  • Yes Bank falls 4% post RBI nod for Rana Kapoor's reappointment##Yes Bank falls 4% post RBI nod for Rana Kapoor's reappointment

    Shares of Yes Bank fell nearly 4 percent today after RBI's approval to reappoint Rana Kapoor as MD & CEO of the bank until further notice. The scrip traded at Rs 347.40, losing Rs 13.50, in value at 10.02 am, after opening at Rs 343. Intra-day, it hit a high and a low of Rs 350 and Rs 338.

  • Market update: Sensex, Nifty bounce back on sustained buying##Market update: Sensex, Nifty bounce back on sustained buying

    The BSE Sensex jumped 119 points, or 0.31 percent, to 38,809, while the NSE Nifty 50 traded at 11,724.85, higher by 48 points, or 0.41 percent. Sun Pharma rose 2.12 percent leading the Sensex pack of gainers, supported by Wipro, Power Grid, Infosys, Coal India, NTPC, Kotak Bank, Bajaj Auto, Adani Ports, rising by up to 2.09 percent. Yes Bank dropped the most among Sensex laggards, slipping nearly 4% lower. Reliance Industries traded lower by 1.34 percent, Vedanta by over half a percent. Bharti Airtel and HDFC twins also slipped.

  • Yes Bank falls nearly 4%, Reliance near 1.2% low among Sensex laggards##Yes Bank falls nearly 4%, Reliance near 1.2% low among Sensex laggards

    Closing Bell: Sensex ends in the red, Nifty flat, energy, metal, bank stocks dip, IT, pharma rise
  • Opening Bell: Sensex, Nifty start flat amid weak cues, midcaps start in green##Opening Bell: Sensex, Nifty start flat amid weak cues, midcaps start in green

    The BSE Sensex started marginally up by 15 points, or 0.04 percent, at 38,704.84, and it further slipped lower by 64 points, or 0.16 percent, to 38,626 in initial trade. The NSE Nifty 50 began at 11,675.85, down by 0.95 points, or 0.01 percent and slipped lower by 20 points, to 11,657. 

  • Rupee slides to 71/$ for the first time##Rupee slides to 71/$ for the first time

  • Indian rupee at fresh record low against the dollar, hits 71/$ mark##Indian rupee at fresh record low against the dollar, hits 71/$ mark

    The Indian rupee on Friday weakened further against the dollar, opening at 70.95 after Thursday's close of 70.74. In initial trade, it slipped further and breached 71/S dollar mark for the first time.

  • Edelweiss prefers ferrous stocks; bullish on Tata Steel, JSW Steel##Edelweiss prefers ferrous stocks; bullish on Tata Steel, JSW Steel

    Edelweiss on Thursday said the house has preference for the ferrous stocks over non-ferrous stocks and is bullish on Tata Steel and JSW Steel. In an interview to CNBC-TV18, Amit Dixit, research analyst, said, "The increase in iron ore or pellet prices are largely due to the impending winter shutdown in China and so demand also went up."

  • Here is the list of stocks that will be on radar today##Here is the list of stocks that will be on radar today

  • Petrol price at Rs 78.52 per litre in Delhi NCR##Petrol price at Rs 78.52 per litre in Delhi NCR


    Diesel prices too touched fresh highs across major cities with prices in Delhi NCR at Rs 70.21 per litre, Kolkata at Rs 73.06 per litre, Mumbai at Rs 74.54 per litre and Chennai at Rs 74.18 per litre. The surge in fuel prices is largely due to rise in the cost of crude oil and high excise duty levied on fuel in the country. Brent crude oil dropped 0.3 percent to $77.51 a barrel.