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PremiumMUMBAI :Mumbai: Benchmark indices closed marginally lower on Wednesday, breaking a four-day winning streak, as investors were cautious ahead of key corporate earnings later this week. Both the indices opened higher with Sensex hitting an all-time intraday high of 34,565.63 and the Nifty 50 touching its record peak of 10,655.50 intraday. Among the sectoral indices, IT and Teck led the gains by rising 1.84% and 1.46%, respectively. Meanwhile, the Nifty PSU Bank fell 1.38%. TCS, Wipro and Coal India were top gainers, whereas Dr. Reddy’s Labs, NTPC and Asian Paints were major losers. The rupee and 10-year bond prices fell for the third session on worries of fiscal slippage and higher inflation pressure after international crude oil prices hit a three-year high.
BSE Sensex closed lower by 10.12 points, or 0.03%, to 34,433.07, while the Nifty 50 fell 4.80 points, or 0.05%, to close at 10,632.20.
BSE Sensex traded lower by 48.52 points, or 0.14%, to 34,394.67, while the Nifty 50 fell 21 points, or 0.20%, to 10,616.
Tata Consultancy Services Ltd rose 2.83% to Rs2,785 ahead of its December quarter earnings on Thursday. According to 19 Bloomberg analyst estimates, the company may post net profit of Rs6,532.70 crore while net sales will be at Rs31,041.70 crore.
Lupin Ltd said it has received final approval for generic Tamiflu capsules from the USFDA. Shares rose 0.23% to Rs923.
Europe’s main stock markets dipped at the start of trading, with London’s benchmark FTSE 100 down a couple of points at 7,728.80. In the eurozone, Frankfurt’s DAX 30 fell 0.2% to 13,383.26 points and the Paris CAC 40 lost 0.1% to 5,518.32.
â– 100% FDI under automatic route for Single Brand Retail Tradingâ– 100% FDI under automatic route in Construction Developmentâ– Foreign airlines allowed to invest up to 49% under approval route in Air Indiaâ– FIIs/FPIs allowed to invest in Power Exchanges through primary marketâ– Definition of ‘medical devices’ amended in the FDI Policy
#Cabinet approves amendments in #FDI policy: https://t.co/KJRGsc33PW
— PIB India (@PIB_India) January 10, 2018
Venus Remedies Ltd said its board approved the issue price of Rs103.65 and the number of shares allocated to eligible qualified institutional buyers under QIP. Shares traded 0.13% up at Rs119.80
Fitch Ratings said that India’s recapitalisation will prioritise large state banks which have scope to grow. The rating agency said the government’s bank recapitalisation programme will increase average core capital ratio of state banks. (Reuters)
Bank of India said it has entered into MoU with Receivables Exchange of India Ltd (RXIL) as a TReDS partner for discounting invoices of MSMEs on digital platform. Shares traded 3% lower at RS165.10
BSE Sensex traded lower by 68.37 points, or 0.20%, to 34,374.82, while the Nifty 50 fell 27.85 points, or 0.26%, to 10,609.15.
The Indian rupee and 10-year bond prices fell for the third session on worries of fiscal slippage and higher inflation pressure after international crude oil prices hit a three-year high. At 12.30pm, the home currency was trading at 63.83 against the dollar, down 0.18% from its Tuesday’s close of 63.72. The 10-year bond yield was at 7.431%, a level last seen on 30 June 2016, compared to its previous close of 7.367%.
PSU Banks fell. IDBI Bank fell 2.1%, Canara Bank 1.9%, Bank of India 1.9%, Punjab National Bank 1.8%, Bank of Baroda 1.6%, Andhra Bank 1.6%, Syndicate Bank 1.4%, Oriental Bank of Commerce 1.4%, Union Bank of Commerce 1.1%, State Bank of India 0.6%.
Oil equipment companies were trading higher after international crude oil surged. Aban Offshore Ltd rose 12%, Dolphin Offshore Enterprises India Ltd rose 8%, Oil Country Tubular Ltd rose 7%.
BSE Sensex traded lower by 38.76 points, or 0.11%, to 34,404.43, while the Nifty 50 edged up 13.45 points, or 0.13%, to 10,623.55.
Steel Strips Wheels Ltd said it has received an exports order from high potential US truck and trailer aftermarket for its truck steel wheels plant in Chennai. Shares traded 0.94% lower at Rs1165.
Tata Motors Ltd said Tata group global wholesales rose 23% to 116,677 units in December 2017 from a year ago. Sales of Tata Motors’ commercial vehicles and Tata Daewoo range rose 53% to 47,182 units in December 2017. Global wholesales of passenger vehicles rose 8% to 69,495 units. Global wholesales of Jaguar Land Rover were 55,066 units.
IDBI Bank said the board of directors will meet on 15 January to consider preferential issue of capital to government of India. Shares traded 0.55% lower at Rs62.80.
BSE Sensex traded higher by 14.66 points, or 0.04%, to 34,457.85, while the Nifty 50 edged up 1.70 points, or 0.02%, to 10,638.70.
Philips Carbon Black Ltd fell 4% to Rs1,398 after FIL Investments (Mauritius) sold 2.32 lakh shares or 0.7% equity at Rs1,465.08 each.
KSK Energy Ventures Ltd rose 5% to Rs16.61 after Societe Generale bought 54.17 lakh shares, or 1.3% equity, at an average price of Rs17.86.
Infosys Ltd rose 0.8% to Rs1,049 after the company said it has signed an advance pricing agreement with the US Internal Revenue Services. The pact would result in a reversal of $225 million of tax provisions.
Electrosteel Steels Ltd rose 5% to Rs7.08 after the company said it received resolution plans from Tata Steel, Vedanta, Edelweiss ARC and Renaissance Steel. The stock hit 5% upper circuit for a fourth sessions.
Oil and Natural Gas Corp. Ltd rose 1.5% to Rs199.70 after international crude oil prices rose.
The Indian rupee on Wednesday was trading marginally higher against the US dollar in opening trade. The rupee opened at 63.66 a dollar, and was trading at 63.67 a dollar, up 0.07% from its Tuesday’s close of 63.72. The 10-year bond yield was at 7.419% compared to its previous close of 7.344%.
BSE Sensex traded higher by 4.05 points, or 0.01%, to 34,447.24, while the Nifty 50 edged down 2.35 points, or 0.02%, to 10,634.65.
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