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Closing Bell: Sensex sheds 467 points to end below 38,000, Nifty gives up 11,450 declining by 1.3% as rupee hits fresh record low

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Indian equity indices posted their biggest single-day fall in six months with the BSE Sensex and the NSE Nifty 50 losing over 1.2 percent in trade. The Sensex nosedived over 467 points in trade or by 1.22 percent to end at 37,922, closing below 38,000 mark. The NSE Nifty50 declined by over 150 points or 1.30 percent to settle at 11,438, with the 50-share broader NSE index ending below 1,450. All sectoral indices ended in the red with the Nifty Pharma dipping by over 2 percent. The Indian rupee today hit the fresh record low of 72.67 against the US dollar. Here are the main highlights from the stock markets today:

Closing Bell: Sensex sheds 467 points to end below 38,000, Nifty gives up 11,450 declining by 1.3% as rupee hits fresh record low
  • HDFC twins, Reliance, ITC, HUL were among top laggards on Sensex##HDFC twins, Reliance, ITC, HUL were among top laggards on Sensex

    Closing Bell: Sensex sheds 467 points to end below 38,000, Nifty gives up 11,450 declining by 1.3% as rupee hits fresh record low
  • Closing Bell: Sensex, Nifty tank as rupee hits fresh record low against the dollar##Closing Bell: Sensex, Nifty tank as rupee hits fresh record low against the dollar

    Equity indices posted their biggest single-day fall in six months with the BSE Sensex and the NSE Nifty 50 losing over 1.2 percent in trade. The Sensex nosedived over 467 points in trade or by 1.22 percent to end at 37,922, closing below 38,000 mark. The NSE Nifty50 declined by over 150 points or 1.30 percent to settle at 11,438, with the 50-share broader NSE index ending below 1,450. All sectoral indices ended in the red with the Nifty Pharma dipping by over 2 percent. Only seven Nifty stocks ended with gains. HCL Technologies emerged as the top gainer, while Axis Bank also ended higher. NDFCs were among biggest losers, particularly Indiabulls Housing and Bajaj Finance. Reliance and HDFC contributed to 38 points in Nifty's decline. 

  • MidCap Mania: Nigel DSouza's pick for today is Rajratan Global Wire##MidCap Mania: Nigel DSouza's pick for today is Rajratan Global Wire

  • Nifty PSU Bank declines 2.13 percent, Sensex falls over 450 points, Nifty loses 150 points##Nifty PSU Bank declines 2.13 percent, Sensex falls over 450 points, Nifty loses 150 points


    Nifty PSU Bank declined over 2 percent today amid a plunging rupee and rising crude prices triggering fears of inflation. All 12 stocks on the sectoral indice traded lower between a percent and 3.26 percent. IDBI Bank was the top laggard, while Syndicate Bank also dipped by over 3 percent. Union Bank of India, SBI, PNB, Bank of India, Canadar Bank were other major losers. Meanwhile, the BSE Sensex traded lower by 460 points, or 1.20 percent, to trade at 37,929 at 3.15 pm. The NSE Nifty 50 slided by 154 points or 1.33 percent, to trade at 11,435.

  • GNA Axles jumped 7 percent, Sensex trades lower by over 405 points##GNA Axles jumped 7 percent, Sensex trades lower by over 405 points

    Shares of GNA Axles jumped 7 percent to hit Rs 396.75 in intra-day trade today. Shares traded at Rs 390, rising by 5.55 percent, or adding Rs 20.50 in value on the BSE at 3 pm. Speaking to CNBCTV-18, the company said it is revising revenue guidance higher to Rs 900 crore in Fy19 against Rs 800 crore earlier and expects Rs 900 crore of topline in FY19. The company is targeting 35 percent growth in exports to North American truck market and enhancing capaicty to meet that. Meanwhile, the BSE Sensex continues to trade lower by over 405 points, or down by 1.06 percent, to trade at 37,985.

  • Market update: Sensex, Nifty trade lower by over a percent; Manappuram Finance dips 5%##Market update: Sensex, Nifty trade lower by over a percent; Manappuram Finance dips 5%

    Shares of Manappuram Finance dipped to 52-week low of Rs 90.80 on profit-booking seen across all sectors. Shares traded at Rs 91.35, down by 4.84 percent at 2.38 pm on the BSE. Meanwhile, Nifty Financial Services traded lower by 1.25 percent. The NSE Nifty50 declined by 1.15 percent or by 134 points to 11,455. The BSE Sensex tanked by over 400 points or 1.04 percent to 37,989. Among the laggards, Bajaj Finance group stocks traded lower by over 4 percent each, while M&M, Sun Pharma, Vedanta declined between 3.3 percent and 3.51 percent. IndusInd Bank and Kotak Mahindra declined by 2.66 and 2.07 percent, respectively. Gainers were Axis Bank, HCL Technologies, Yes Bank, Infosys, Cipla, Wipro, Tata Motors, higher by up to 1.53 percent.

  • Market update: Sensex, Nifty trade sharply lower, rupee edges back##Market update: Sensex, Nifty trade sharply lower, rupee edges back

    The BSE Sensex traded 360 points or 0.94 percent lower to  38,029. The NSE Nifty50 traded at 11,470, down by 118 points or 1.02 percent.

  • Rupee sees a major recovery post Govt’s comment of being vigilant##Rupee sees a major recovery post Govt’s comment of being vigilant

  • Expensive Bajaj Finance, Bajaj Finserv shares down on profit booking##Expensive Bajaj Finance, Bajaj Finserv shares down on profit booking

     
    Shares of Bajaj Finance and Bajaj Finserv were the worst hit on the Nifty 50 index as investors booked profits owing to the high valuations of these stocks. Bajaj Finance is trading at historically high valuations of 28 times its price to earnings estimates for 2019-20 (Apr-Mar). So far in 2018, shares of Bajaj Finance have given a return of 51.8 percent, while those of Bajaj Finserv have gained 22.5 percent. (Cogencis)

    At 1.22 pm, shares of Bajaj Finance were down 2.79 percent at Rs 2,663.50, while those of Bajaj Finserv were trading down 2.48 percent at Rs 6,418.95. Meanwhile, the Indian rupee has posted recovery against the US dollar reportedly after RBI's intervention. At 1.24 pm, the rupee traded at 72.33 against the dollar. Indexes continue to trade lower with the BSE Sensex slipping by 403 points or over a percent to 37,987, at 1.27 pm. The NSE Nifty 50 too declined by 1.10 percent to trade lower by 128 points to 11,461.

  • Only Axis Bank trades positive on Nifty Bank##Only Axis Bank trades positive on Nifty Bank

    Closing Bell: Sensex sheds 467 points to end below 38,000, Nifty gives up 11,450 declining by 1.3% as rupee hits fresh record low
  • Tata Global Beverages hits 10-week high on international operations restructuring##Tata Global Beverages hits 10-week high on international operations restructuring

    Tata Global Beverages Ltd rises as much as 5.5 percent to Rs 235.15 – its biggest intraday percent gain in nearly 10 weeks. The company engaged in trading, production and distribution of tea, coffee and water, is restructuring its international operations to save costs, boost efficiency. The company said erstwhile EMEA and CAA (Canada, Australia, and Americas) units will be merged into a single unit called International Business Division. It also said that it has restructured operating model in Russia, divested its stake in plantations in Sri Lanka, and exited its JV business in China. More than 3.1 million shares traded vs 30-day average of 2.9 million shares. At 12.22 pm, shares traded at Rs 225.20, rising by 0.87 percent. (Reuters)

    Meanwhile, the BSE Sensex hovered just above the 38,000 mark, falling by nearly 380 points or by over jsut about a percent to 38,010 at 12.23 pm. The NSE Nifty 50 shed 131 points or 1.13 percent to trade well below the 11,500 mark at 11,458.

  • Rupee extends losses, hits fresh record low of 72.55 against the US dollar##Rupee extends losses, hits fresh record low of 72.55 against the US dollar

  • Market update: Sensex, Nifty edge back from day's low##Market update: Sensex, Nifty edge back from day's low

    The BSE Sensex traded 260 points lower or by 0.70 percent to 38,123, while the NSE Nifty 50 shed 84 points or 0.72 percent to 11,505 at 11.41 am. So far, the NSE index has ranged between a high and a low of 11,573 and 11,489, respectively. It opened at 11,570. The BSE index started at 38,348 and has ranged between a high of 38,354 and a low of 38,084. 

  • Rupee falls to record low of 72.4650/$##Rupee falls to record low of 72.4650/$  

  • RITES surges 5% as company gets Rs 3 billion order##RITES surges 5% as company gets Rs 3 billion order


    Shares of RITES gained 5.3 percent today after the company bagged an order worth Rs 2.95 billion from the railway ministry. The order entails doubling of the 41.5-km-long Dharmavaram-Penukunda rail line under the South Western Railways, the company said. Shares of the company traded 3.72 percent higher at 270.70 on the BSE at 10.31 am.(Cogencis)

  • Here's a snapshot of Axis Bank's upcoming MD & CEO Amitabh Chaudhary's profile##Here's a snapshot of Axis Bank's upcoming MD & CEO Amitabh Chaudhary's profile

  • Market update: Sensex, Nifty sharply extend losses as rupee weakens further against dollar##Market update: Sensex, Nifty sharply extend losses as rupee weakens further against dollar

    The Indian rupee fell to fresh record low against the US dollar at 72.33 on Monday, after opening at 72.18. Meanwhile, the sliding rupee took a toll on indices as well with the BSE Sensex falling by over 224 points to 38,165, shedding 0.58 percent, while the NSE Nifty50 also slipped lower by 0.60 percent or by 70 points to 11,519.55. Shares of Axis Bank rose over 4 percent, while Lupin, Cipla, HCL Tech, Yes Bank Wipro, Infosys, Bajaj Auto rising by up to 1.89 percent. UltraTech Cement, Power Grid, Asian Paints, Kotak Mahindra, BPCL, Hindustan Unilever, HDFC Bank, slipped lower by up to 1.72 percent. Midcaps were also in the red with the BSE MidCap lowe rby 0.296 percent while the Nifty MidCap dippping by 0.19 percent. BSE LargeCap was down by 0.64 percent. Only 3 out of 19 sectoral indices on the BSE traded positive. On the NSE, PSU Bank, Pharma, IT traded positive, while Nifty Bank and PVT Bank dipped over half a percent. FMCG and Fin Service slipped the most by 1.19 percent and 0.75 percent, respectively. 

  • Axis Bank hits record high as Amitabh Chaudhry to become next MD##Axis Bank hits record high as Amitabh Chaudhry to become next MD

    Shares of Axis Bank jumped over 4 percent to hit their lifetime high of Rs 677.95 after the bank appointed Amitabh Chaudhry to replace Shikha Sharma as its managing director and chief executive officer. The RBI on Saturday cleared Chaudhry's appointment as the bank's MD. Chaudhry previously worked as the CEO and MD of HDFC Standard Life Insurance. Shares traded at Rs 673.40, rising by 4.3 percent, at 9.53 am. 

  • Axis Bank, Infosys, Wipro, Tata Steel among Sensex gainers, Yes Bank, HDFC Bank fall##Axis Bank, Infosys, Wipro, Tata Steel among Sensex gainers, Yes Bank, HDFC Bank fall

    Closing Bell: Sensex sheds 467 points to end below 38,000, Nifty gives up 11,450 declining by 1.3% as rupee hits fresh record low
  • Opening Bell: Sensex, Nifty start weak, rupee falls sharply, IT, metal shares rise##Opening Bell: Sensex, Nifty start weak, rupee falls sharply, IT, metal shares rise

    Equity indices, the BSE Sensex and the NSE Nifty 50, started on a weak note on Monday tracking subdued global cues and sharp fall in the Indian rupee. The Sensex started at 38,348, dipping by 41 points or 0.11 percent in the opening tick, while the Nifty 50 shed nearly 19 points, or 0.16 percent, to trade at 11,570. Indices further fell in initial trade with Sensex dipping over 100 points and the Nifty 50 slipping lower by over 33 points and turned volatile. The Indian rupee fell sharply and opened at a fresh record low of 72.18 against the dollar against Friday's close of 71.73. Except IT and Metal all sectoral indices on the NSE traded weak with Bank Nifty down by 0.31 percent. PSU Bank was lower by 0.45 percent.

  • Indian rupee opens at record low of 72.18 against the dollar##Indian rupee opens at record low of 72.18 against the dollar

  • Here is what you need to know before the market opens##Here is what you need to know before the market opens

    Asia: Market started the week in the red again on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan were last down 0.2 percent after dropping 3.5 percent last week. Japan's Nikkei opened lower but quickly pared losses. Australia's benchmark share index slipped 0.2 percent, while South Korea's KOSPI index eased 0.1 percent.

    US: The Dow Jones Industrial Average fell 79.33 points, or 0.31 percent, to 25,916.54, the S&P 500 lost 6.37 points, or 0.22 percent, to 2,871.68 and the Nasdaq Composite Index dropped 20.19 points, or 0.25 percent, to 7,902.54.

    Dollar: The euro held at $1.1555 after two straight sessions of losses while the yen traded in a narrow range, changing hands at 110.98. The dollar index, which measures the greenback against a basket of six currencies, was basically flat at 95.381, not far off a three-week high of 95.737 hit on Tuesday last week.

    Crude oil prices: Prices were slightly firmer after three straight days of losses with US crude futures up 35 cents at $68.1 per barrel. Brent crude futures added 37 cents to $77.20 a barrel.

  • Jefferies rates Sun Pharma HOLD at a TP of Rs 555 per share##Jefferies rates Sun Pharma HOLD at a TP of Rs 555 per share

    HOLD rating, target at Rs 555/share.


    Of 6, 2 observations for Halol could take 3-6 moths to resolve.


    While we do not expect an escalation, product approval could be delayed.


    Key for Sun Pharma in near term remains specialty product execution.


    The 483 highlights the risks in the business and timing.

  • Motilal rates Axis Bank as BUY, TP at Rs 750/share##Motilal rates Axis Bank as BUY, TP at Rs 750/share

    Building blocks falling in place to further strengthen recovery.

     
    It is the second time that MD and CEO will come from a life insurance company.


    Company will have the youngest CEO amongst all new private banks.


    Rich business/technology experience will help boost growth/productivity levels.


    RBI’s approval removes a big overhang.


    Expect earnings to start normalising H2FY19 onward.


    Maintains BUY call, target at Rs 750/share.

  • Pramit Brahmbhatt of Veracity expects rupee to trade in between 71.20-71.80/$##Pramit Brahmbhatt of Veracity expects rupee to trade in between 71.20-71.80/$

  • Here are the things you need to know before the market opens##Here are the things you need to know before the market opens

    Date: September 7, 2018; Source: NSE


    FII net buy 38 crore in cash market (4817-4779)
    DII net buy 942 crore in cash market (4623-3681)
    FIIs net buy 85 crore in F&O


     
    FIIs in F&O


    Date: September 7, 2018; Source: NSE


    FII net sell 362 crore in index futures, OI +4033 contracts
    FII net buy 109 crore in index options, OI +35692 contracts
    FII net buy 213 crore in stock futures, OI +19677 contracts
     
    Index Cues


    Nifty Spot closed at 11589.10 up by 52.20 points.
    India VIX closed at 13.8900 up by 1.22 percent.
     
    F&O Ban: NIL
     
    September Series
    Nifty OI +2.3 percent, Adds 6.39 lakh shares
    Nifty September Futures trading at 43.85 points premium v/s 30.25 points premium
    Nifty Bank OI -0.1 percent, sheds 2040 shares
     
    Option Cues
    Nifty P CRORE rose to 1.49 from 1.40
     
    September Series: MAX OI at 11500 Put and 11800 Call
    11500 Put Adds 5.95 lakh shares, Prm at 82 vs 105
    11600 Put Adds 2.93 lakh shares, Prm at 115 vs 144
    11700 Call Sheds 2.9 lakhshares, Prm at 91 vs 67
     
    Stock Futures
    Auropharma +6 percent
    OI -1.7 percent, Short Covering
     
    Heromotoco +5.5 percent
    OI -8.4 percent, Short Covering
     
    Pageind +5 percent
    OI +2.3 percent, Fresh Longs
     
    Bajaj-Auto +5 percent
    OI -2.5 percent, Short Covering
     
    Lupin +5 percent
    OI -1 percent, Short Covering
     
    YesBank -5 percent
    OI +24 percent, Fresh Shorts
     
    Adanient -4 percent
    OI +77 percent, Fresh Shorts
     
    BHEL -3 percent
    OI +6.4 percent, Fresh Shorts
     

  • Following stocks are likely to move in Monday's trade##Following stocks are likely to move in Monday's trade

    Reliance Industries, Bharti Airtel, Idea Cellular: TRAI has imposed penalties on major telecom operators, including Reliance Jio, Bharti Airtel, Vodafone-Idea Cellular, for slipping on various service quality benchmarks for the March quarter, PTI reported.

    Reliance Capital: The Anil Ambani-led company has informed the exchange that it has received Certificate of Registration from the Reserve Bank of India as core investment company.

    Bank of India: RBI fines the lender Rs 1 crore for violation of guidelines on frauds classification and reporting with respect to Winsome Diamond & Jewellery and Forever Precious Diamonds.

    Bank of Maharashtra: RBI imposes penalty of Rs 1 crore for contravention of master circular on fraud.

    Union Bank Of India: RBI imposes penalty of Rs 1 crore for contravention of circular on fraud.

    Axis Bank: Amitabh Chaudhry appointed as the managing director and chief executive officer of Axis Bank for a period of three years with effect from January 1, 2019 to December 31, 2021.

    NTPC: State-run power major NTPC's trading arm NVVN will begin power supply of 300 MW to Bangladesh from midnight Sunday. "The 300 MW power supply to Bangladesh by the NVVN will commence from 00:00 hrs of 10th September 2018," NTPC said in a statement.

    Check more Hot Stocks for today.

  • Fuel prices soar: Petrol crosses Rs 80 per litre mark across major cities.##Fuel prices soar: Petrol crosses Rs 80 per litre mark across major cities.
     

    Fuel prices across major cities rose for the fifth consecutive day on Monday with petrol prices crossing the Rs 80 per litre mark.

    Petrol prices touched Rs 80.73/litre in Delhi and Rs 88.12/litre in Mumbai.

    Petrol prices in Kolkata, Mumbai and Chennai also rose to Rs 83.61 per litre, Rs 88.12 per litre, and Rs 83.91 a litre, respectively.

    Diesel prices also rose in major cities with Delhi recording prices at Rs 72.83 a litre, Kolkata at Rs 75.68 per litre, Mumbai at Rs 77.32 per litre and Chennai at Rs 76.98 per litre.

  • Oil prices climb as US energy firms cut rigs, Iran sanctions loom.##Oil prices climb as US energy firms cut rigs, Iran sanctions loom.

    Oil prices rose on Monday as the number of US rigs drilling for new production was cut last week and as the market is expected to tighten once US sanctions against Iran’s crude exports kick in from November.

    US West Texas Intermediate (WTI) crude futures were at $68.09 per barrel at 0055 GMT, up 34 cents, or 0.5 percent, from their last settlement.

    Brent crude futures climbed 42 cents, or 0.6 percent, to $77.25 a barrel.

  • Asian shares on slippery slope as trade tensions take toll.##Asian shares on slippery slope as trade tensions take toll.
     

    Asian shares started the week in the red again on Monday, faltering for the eighth straight day and the dollar climbed against major currencies after US President Donald Trump raised the stakes in the heated trade dispute with China.

    MSCI’s broadest index of Asia-Pacific shares outside Japan were last down 0.2 percent after dropping 3.5 percent last week for their worst weekly showing since mid-March.