Market Wrap: Sensex closes 137 points lower, Nifty at 10458, banking stocks extend losses
BSE Sensex closed lower by 137.10 points at 34,046.94, while the Nifty 50 fell 34.50 points to close at 10,458.35. Here are the latest updates from markets
Last Modified: Thu, Mar 01 2018. 05 16 PM IST
- 3.34 pm ISTClosing bell
- 2.15 pm ISTMarket update
- 2.13 pm ISTRupee trades little changed against the US dollar
- 2.10 pm ISTKNR Constructions gets Rs1020 crore order
- 2.07 pm ISTNatco Pharma files new drug application
- 2.05 pm ISTStovec Industries board approves divestment in unit
- 12.55 pm ISTMarket update
- 12.50 pm ISTRBI could turn more hawkish as growth quickens
- 12.47 pm ISTAsian shares trade lower
- 12.45 pm ISTAshok Leyland vehicles sales rise 29% in February
- 12.35 pm ISTZomato receives $150 million funding from Alibaba unit
- 11.47 am ISTBanking stocks trade lower
- 11.45 am ISTFortis Healthcare reports net loss for last two quarters
- 10.40 am ISTMarket update
- 10.38 am ISTL&T unit gets Rs1,593 crore order
- 10.35 am ISTMaruti Suzuki total vehicle sales rise 15% in February
- 10.35 am ISTDilip Buildcon gets orders worth Rs5,390 crore from NHAI
- 9.52 am ISTMetal stocks trade higher
- 9.50 am ISTBajaj Auto shares rise on January sales data
- 9.48 am ISTAshoka Buildcon shares climb over 6% on new order
- 9.45 am IST10 questions answered by Q3 GDP data
- 9.43 am ISTRupee trades flat against US dollar
- 9.40 am ISTMarket update
- Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 closed lower for the third straight session on Thursday following losses in global equity markets, offsetting better-than-expected local economic data. Government data on Wednesday showed India’s gross domestic product (GDP) expanded 7.2% in the third quarter of 2017-18—the fastest in five quarters. Shares in US and Asia fell as traders are cautious ahead of Federal Reserve chair Jerome Powell appearance before senate banking committee following hits hawkish comments on Tuesday. Here are the highlights from the markets:
- 3.34 pm IST Closing bellBSE Sensex closed lower by 137.10 points, or 0.40%, to 34,046.94, while the Nifty 50 fell 34.50 points, or 0.33%, to close at 10,458.35. BSE MidCap and SmallCap fell 0.61% and 0.24%, respectively. All the sectoral indices on BSE, except FMCG and oil and gas, ended lower with metal, bankex, realty and consumer durables falling most.
- 2.15 pm IST Market updateBSE Sensex traded lower by 13.35 points, or 0.04%, to 34,170.69, while the Nifty 50 edged up 3.70 points, or 0.04%, to 10,496.55. BSE MidCap was down 0.09%, while SmallCap gained 0.22%. Among the sectoral indices on BSE, oil and gas, auto, FMCG and telecom traded higher, bankex, IT, healthcare and teck declined.
- 2.13 pm IST Rupee trades little changed against the US dollarThe Indian rupee was trading little changed against the US dollar ahead of as traders avoided taking huge positions ahead of the long weekend. At 2pm, the rupee was trading at 65.16, up 0.01% from its previous close of 65.18. The home currency opened at 65.25 and touched a high and a low of 65.10 and 65.27, respectively. Yields on 10-year government bonds were at 7.74% compared to Wednesday’s close of 7.726%. Bond yields and prices move in opposite directions.
- 12.47 pm IST Asian shares trade lowerAsian stocks were mostly lower on Thursday after Wall Street marked its worst monthly performance in two years as hawkish-sounding comments from new Federal Reserve Chair Jerome Powell reverberated across the broader risk asset markets. MSCI’s broadest index of Asia-Pacific shares was down 0.5%. Chinese shares bucked the trend and edged up. Shanghai shares were 0.15% higher. Australian stocks fell 0.7%, South Korea’s KOSPI shed 1.2% and Japan’s Nikkei dropped 1.55%. The losses in Asia came amid a broad selloff on Wall Street, where the Dow and S&P 500 capped their worst months since January 2016 overnight after suffering sharp losses early in February. (Reuters)
- 12.45 pm IST Ashok Leyland vehicles sales rise 29% in FebruaryAshok Leyland Ltd has recorded a 29% increase in its total sales at 18,181 units in February 2018 from 14,067 units during the same month previous year. Ashok Leyland shares gained 0.35% to Rs141.80.
- 12.35 pm IST Zomato receives $150 million funding from Alibaba unitAnt Financial Services, a unit of China’s Alibaba Group, invests $150 million in Zomato, valuing the Indian company at more than $1 billion. Zomato, which provides services across 24 countries, said it will use the funds to improve products and technology. (Reuters)
- 11.47 am IST Banking stocks trade lowerBanking stocks fell. Indian Bank declined 2.7%, Corporation Bank 2.5%, Bank of India 2.1%, ICICI Bank 2.1%, State Bank of India 1.8%, Allahabad Bank 1.7%, Punjab National Bank 1.7%, Canara Bank 1.6%, Union Bank of India 1.6%, Andhra Bank 1.4%, Uco Bank 1.4%, Oriental Bank of Commerce 1.3%, South Indian Bank 1.3%, Syndicate Bank 1.3%.
- 11.45 am IST Fortis Healthcare reports net loss for last two quartersFortis Healthcare Ltd reported a net loss for the September and December quarters late on Wednesday, after it sought an extension to approve results for the two reporting periods. Fortis posted a net loss of Rs23.61 crore for the quarter ending 30 September, compared with a profit of Rs38.24 crore a year ago, mainly on a one-time charge due to the closure of a hospital, it said in a stock exchange filing. For the December quarter, it reported a net loss of Rs19.1 crore, compared with a profit of Rs453 crore on a one-off gain by an associate company in the year-ago period. (Reuters)
- 10.40 am IST Market updateBSE Sensex traded lower by 43.65 points, or 0.13%, to 34,140.39, while the Nifty 50 edged down 7.75 points, or 0.07%, to 10,485.10. BSE MidCap was down 0.07%, while SmallCap gained 0.31%. Among the sectoral indices on BSE, auto, metal, industrials and capital goods were leading the gains, whereas IT, Teck, Bankex and utilities shed most.
- 9.45 am IST 10 questions answered by Q3 GDP dataThere’s a favourable base effect, because demonetisation lowered growth in the December 2016 quarter, but even so, India’s GDP growth has improved.
Is the economy recovering from the slowdown?— Mint Mark to Market (@livemint_m2m) March 1, 2018
Which sectors contributed how much to GVA growth?
Has the manufacturing sector recovered from the pain of GST introduction?
Manas Chakravarty decodes Q3 GDP data here: https://t.co/wmhLPrqtop
- 9.43 am IST Rupee trades flat against US dollarThe Indian rupee was trading little changed against the US dollar on Thursday as traders avoided taking huge positions ahead of the long weekend. The home currency opened at 65.25 and touched a low of 65.27 a dollar. The rupee was trading at 65.19, down 0.01% from its previous close of 65.18. Yields on 10-year government bonds were at 7.697% compared to Wednesday’s close of 7.726%. Bond yields and prices move in opposite directions.