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Closing Bell: Sensex ends just above 36,300, Nifty below 11,000, HDFC twins, financial, auto stocks drag indexes, TCS, IT shares surge

Closing Bell: Sensex ends just above 36,300, Nifty below 11,000, HDFC twins, financial, auto stocks drag indexes, TCS, IT shares surge

Closing Bell: Sensex ends just above 36,300, Nifty below 11,000, HDFC twins, financial, auto stocks drag indexes, TCS, IT shares surge
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Summary

Indian equity market have ended Monday's trading with sharp losses, after a green start as investor sentiment turned bearish with the street factoring in the NBFC and housing financial companies’ exposure to the IL&FS. A surge in crude oil prices and persisting volatility in the Indian rupee added to sustained selling. Both indexes ended near two-month lows after an extremely choppy session. Except IT and energy, all sectors ended with losses. Here are the main highlights from the stock markets today:

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TCS, Coal India, Infosys, Reliance among top Sensex gainers, M&M, HDFC twins top losers##TCS, Coal India, Infosys, Reliance among top Sensex gainers, M&M, HDFC twins top losers

Closing Bell: Sensex ends just above 36,300, Nifty below 11,000, HDFC twins, financial, auto stocks drag indexes, TCS, IT shares surge

Closing Bell: Sensex ends just above 36,300, Nifty gives up 11,000##Closing Bell: Sensex ends just above 36,300, Nifty gives up 11,000


Benchmark equity indexes closed sharply lower on Monday, ending near two-month lows. The NSE Nifty50 shed over 168 points, or 1.51 percent, to settle at 10,974.90. The BSE Sensex ended at 36,305, nosediving 536 points, or by 1.46 percent. Midcaps extended losses with the Nifty MidCap settling lower by 2.72 percent, shedding almost 500 points, while the BSE MidCap plunged by 2.40 perecnt. Nifty Bank closed lower by 626 pionts, ending below the 25,000 mark. Barring Nifty IT and Energy, all sectoral indices ended in the red. Financials, especially HDFC twins contributed to maximum Nifty losses, while IT stocks led by TCS supported indexes. Market breadth in favour of declines with the advance-decline ratio at 1:6. DHFL stock gained recovering 43 percent from Friday's lows, ending 12 percent higher.

Piramal Enterprises dips 8.6 percent##Piramal Enterprises dips 8.6 percent

Shares of Piramal Enterprises declined by 8.61 percent to trade at Rs 2,508.50, losing Rs 236.25 in value, on the NSE at 3.23 pm. The stock touched the opening high of Rs 2,768 and a low of Rs 2,505.55.

TCS hits record high, gains 4.2% to trade at Rs 2,192##TCS hits record high, gains 4.2% to trade at Rs 2,192

India’s largest company by market-cap, Tata Consultancy Services Ltd, gained nearly 4.5 percent to a record high of Rs 2,199. TCS share is up 55.72 percent this year as of last close, compared with the broader NSE Index’s 5.82 percent gains. Shares traded at Rs 2,196.35, higher by 4.41 percent at 3.20 pm. TCS market cap stands at Rs 8,41,023.11 crore as of 3.20 pm today.

It's time for MidcapMania & Nigel DSouza's pick for today is OnMobile##It's time for MidcapMania & Nigel DSouza's pick for today is OnMobile

Choppy market: Step back and look at the big picture, says Anuj Singhal##Choppy market: Step back and look at the big picture, says Anuj Singhal

India's benchmark stock market index slumped more than 500 points on Monday, with selling pressure seen across major key sectoral indices. After such a sharp plunge, investors are left wondering what's more in the offing for the index... Now, this market has given up exact half of the rally it has since August lows. Can it give up 66 percent? It’s entirely possible, says CNBCTV18's Anuj Singhal. Click here to read.

Airline stocks fall as crude jumps, domestic passenger growth slows##Airline stocks fall as crude jumps, domestic passenger growth slows

Shares of Indian carriers SpiceJet Ltd, Jet Airways (India) Ltd and InterGlobe Aviation Ltd , which owns IndiGo, fell as much as 4.2 percent-7.9 percent. Brent crude rises over 2 percent as US sanctions restrict Iranian crude exports, tightening global supply. Domestic passenger growth in August has been the lowest since May at 17.2 percent, according to data released by the Directorate General of Civil Aviation. Jet hits its lowest in nearly four years, while SpiceJet falls to its weakest since March 2017. Jet had shed 72.4 percent this year as of Friday’s close amid financial woes. (Reuters)

Shares of Jet Airways traded at Rs 216.50, down by 5.64 percent at 3 pm, while Spicejet slipped by 5.26 percent to Rs 73. IndiGo shares also dropped by 3.81 percent to Rs 862.90. Benchmark indexes look set for yet another negative close before the last 30 minutes of trading session left. The NSE Nifty50 traded  lower by 1.3 percent, or 144 points, to 10,998.50, while the BSE Sensex was at 36,408.09, slumping by 433.51 points, or 1.18 percent.

PSU OMCs’ shares tank as crude oil price hits 4-year high##PSU OMCs’ shares tank as crude oil price hits 4-year high

Shares of state-owned oil refiners tanked after the Brent crude oil futures rose above the $80 per barrel mark to a four-year high on the Intercontinental Exchange, raising fears of government intervention in price determination. Global crude oil prices surged nearly 2 percent on fears of a supply crunch after the Opec said it would only increase output if demand rose and ahead of US sanctions on oil exports from Iran. At 2.40 pm, shares of Bharat Petroleum Corp, Hindustan Petroleum Corp, and Indian Oil Corp were down 1.7-4.5 percent.

Nifty Auto falls nearly 4%, Sensex, Nifty trade sharply lower##Nifty Auto falls nearly 4%, Sensex, Nifty trade sharply lower

Nifty Auto dipped over 410 points, or by 3.96 percent, to trade at 9,995.45 at 2.26 pm. As many as 15 stocks have declined on the 16 share sectoral indice, with Motherson Sumi, M&M, Eicher Motors, Maruti Suzuki and TVS Motor. Motherson Sumi Systems fell to a 52-week low of Rs 250.10. It traded at Rs 252.60, tanking by 8.31 percent at 2.35 pm on the NSE. Eicher Motors fell to its 52-week low of Rs 26,080. Maruti Suzuki also fell by 3.42 percent. Benchmark indexes continue to trade sharply negative. At 2.37 pm, the NSE Nifty50 dropped by 172.20 points, or 1.55 percent, to trade at 10,970.90. The BSE Sensex hovered above the 36,400 mark, trading at 36,415.55. The BSE index has slumped by 426.05 points, or by 1.16 percent. 

Select bids for Jet Airways' stake in Jet Privilege have come in below expected valuation##Select bids for Jet Airways' stake in Jet Privilege have come in below expected valuation

HDFC, Central Bank, SBI down as lenders hold shares in IL&FS##HDFC, Central Bank, SBI down as lenders hold shares in IL&FS

Shares of Central Bank of India, HDFC and State Bank of India tanked given their significant exposure in crisis-hit Infrastructure Leasing & Financial Services. As per recent reports, IL&FS group was unable to service its obligations on interest payments on non-convertible debentures that were due on Friday, sparking more fears on the company's ability to repay its over 1-trillion-rupee debt. The sell off in the banks was exacerbated by the fact that the company's debt repayments on other securities is scheduled for later this week. Central Bank of India, Housing Development and Finance Corp, and State Bank of India have 7.67 percent, 9.02 percent, and 6.42 percent stake in the company, respectively. Today, shares of Central Bank fell nearly 20 percent to hit their over nine-year low of Rs 42.60 and those of HDFC fell over 5 percent to their six-month low of Rs 1,741. (Cogencis)

HDFC shares shed 5%, Sensex dives by 430 points##HDFC shares shed 5%, Sensex dives by 430 points

HDFC shares traded at Rs 1,748.35, dipping by 4.95 percent, at 12.50 pm on the NSE as the housing finance company holds 9.02 percent in the crisis hit IL&FS. The stock opened at Rs 1,839, and slipped to Rs 1,741 intra-day. Benchmark indexes continue their downtrend with the NSE Nifty50 trading nearly 142 points lower to 11,001, while the BSE Sensex dived by over 430 points to 36,411.03.

European markets open weak, DAX & FTSE MIB (Italy) down 0.4%##European markets open weak, DAX & FTSE MIB (Italy) down 0.4%

Market update: Sensex, Nifty down over a percent, midcaps down over 500 points##Market update: Sensex, Nifty down over a percent, midcaps down over 500 points


Equity indexes extended losses on Monday afternoon, spooked by rising crude oil prices and a weak rupee, that triggered selling across sectors except IT. The BSE Sensex traded at 36,403.86, tanking 437.74 points,  or 1.19 percent at 12.25 pm. The NSE Nifty 50, gave up the 11,000 mark, trading at 10,999.50, dropping by 143.60 points, or 1.29 percent. Midcaps fell sharply, declining by over 2.5 percent. The Nifty MidCap slumped 2.71 percent, shedding nearly 500 points, while the BSE MidCap tanked 2.41 percent. Nifty Bank dropped to 25,060, shedding over 535 points, dipping by 2.10 percent. Nifty Auto fell 3.71 percent, Nifty Fin Service 3.16 percent, Nifty Pharma 1.45 percent. PSU Bank and PVT Bank declined by up to 2.4 percent each. Gainers among stocks included Tech Mahindra, TCS, Infosys, all rising up to  3.8 percent, while Coal India, ONGC and NTPC by up to 2.51 percent. Financials, auto, telecom stocks lead among the laggards. Bajaj Finance slumped 7.77 percent, Vodafone Idea 5.8 percent, M&M 5.7 percent, HDFC and Eicher Motors nearly 5 percent. Other losers were Maruti Suzuki, IndusInd Bank and Adani Ports, dipping by 4.61 percent.

Edelweiss, Indiabulls Housing, Bajaj Finance, IIFL, HDFC lead among laggards on Nifty Fin Service##Edelweiss, Indiabulls Housing, Bajaj Finance, IIFL, HDFC lead among laggards on Nifty Fin Service

Closing Bell: Sensex ends just above 36,300, Nifty below 11,000, HDFC twins, financial, auto stocks drag indexes, TCS, IT shares surge

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