Market Wrap: Sensex closes 144 points lower, Nifty at 10500, PNB shares falls 10%
BSE Sensex closed lower by 144.52 points at 34,155.95, while the Nifty 50 fell 38.85 points to close at 10,500.90. Here are the latest updates from markets
Last Modified: Wed, Feb 14 2018. 05 02 PM IST
- 3.34 pm ISTClosing bell
- 2.46 pm ISTMarket update
- 2.43 pm ISTGlobal shares trade higher
- 2.40 pm ISTRupee trades higher against US dollar
- 1.22 pm ISTNatco Pharma shares fall as USFDA inspects API facility
- 1.18 pm ISTAbbott India net profit rises in Q3
- 12.35 pm ISTMarket update
- 12.33 pm ISTPrism Cement shares on positive Q3 result
- 12.30 pm ISTGlobal gold prices hit 1-week high on weaker dollar ahead of US data
- 12.27 pm ISTIdea Cellular board approves Rs3,500 crore QIP issue
- 11.48 am ISTDenis Chem Labs profit flat in Q3
- 11.45 am ISTNitco shares jumped 17% as net loss narrows
- 11.40 am ISTGodrej Industries net profit rises
- 11.18 am ISTMarket update
- 11.15 am ISTGPT Infraprojects shares rise on receipt of new order
- 11.12 am ISTWelspun India shares fall as profit halves in Q3
- 11.08 am ISTBanking stocks fall after RBI rejigs bad loan rules
- 9.50 am ISTBank of India shares fall after Q3 result
- 9.47 am ISTBank of Baroda stock trades lower as profit declines in Q3
- 9.45 am ISTPNB shares drop nearly 5%
- 9.43 am ISTMr Bond makes his voice heard
- 9.40 am ISTRupee, bond prices gain as inflation softens
- 9.35 am ISTMarket update
- Mumbai: Benchmark indices closed lower after choppy trades on Wednesday, with BSE Sensex closing 144 points lower and NSE Nifty settling at 10,500. Banking stocks suffered most with Nifty PSU Bank down 4.78% and Nifty Bank 1.40%. Punjab National Bank shares ended 10% lower after the bank said it detected fraudulent transactions amounting to more than $1.77 billion. Among the sectoral indices, energy, telecom, capital goods and industrials traded higher. Coal India, Bharti Airtel, RIL and Adani Ports were among the top gainers, whereas shares of Yes Bank, Axis Bank, SBI and ONGC fell. Here are the highlights from the markets.
- 3.34 pm IST Closing bellBSE Sensex closed lower by 144.52 points, or 0.42%, to 34,155.95, while the Nifty 50 fell 38.85 points, or 0.37%, to 10,500.90.
- 2.46 pm IST Market updateBSE Sensex traded higher by 24.50 points, or 0.07%, to 34,324.97, while the Nifty 50 rose 7.55 points, or 0.07%, to 10,547.30. BSE MidCap and SmallCap rose 0.60% and 0.61%, respectively. Banking stocks extended losses with Nifty Bank down 0.83% and Nifty PSU Bank plunged 4.20%.
- 2.43 pm IST Global shares trade higherGlobal shares were mostly higher as investors awaited the release of US inflation data. Trading was winding down in China ahead of the Lunar New Year holidays. France’s CAC 40 added 0.6% to 5,140.46, while Germany’s DAX rose 0.8% to 12,293.65. Britain’s FTSE 100 was up 0.7% at 7,216.32. US shares were set for gains with Dow futures up 0.6% at 24,775 and S&P 500 futures 0.5% higher at 2,674.70. (AP)
- 2.40 pm IST Rupee trades higher against US dollarIndian government bond prices and rupee gained on the back of better-than-expected key macroeconomic data. The rupee was trading at 64.18, up 0.21% from its Monday’s close of 64.32. The rupee opened at 64.17 a dollar. On Tuesday, markets were closed due to Mahashivratri. Yield on the 10-year bond fell to 7.496% from its previous close of 7.499%. Bond yields and prices move in opposite directions.
- 12.35 pm IST Market updateBSE Sensex traded lower by 19.27 points, or 0.06%, to 34,281.20, while the Nifty 50 inched up 1.50 points, or 0.01%, to 10,541.25. BSE MidCap was up 0.67%, while SmallCap gained 0.75%. Among the sectoral indices on BSE, realty, telecom, metal and consumer durables led the gains, whereas bankex, utilities, power and healthcare traded lower.
- 12.30 pm IST Global gold prices hit 1-week high on weaker dollar ahead of US dataGlobal gold prices rose for a third straight session on Wednesday to hit a one-week high, buoyed by a weaker dollar, while investors awaited US inflation data for clues on the pace of future US interest rate increases. Spot gold, which is priced in dollars, was up 0.4% at $1,334.75 an ounce, as of 9.57am. Earlier in the session, it hit $1,335.81, its highest since 6 February. US gold futures rose 0.5% to $1,337.6 per ounce.
- 12.27 pm IST Idea Cellular board approves Rs3,500 crore QIP issueIdea Cellular’s board of directors has approved the issuance of equity shares worth up to Rs3,500 crore by way of QIP to eligible investors.
Idea Cellular board approves Rs3,500 crore QIP issue https://t.co/WSxO0MeqSW— Livemint (@livemint) February 14, 2018
- 11.40 am IST Godrej Industries net profit risesGodrej Industries Ltd said its consolidated net profit rose to Rs90.68 crore in the third quarter ended 31 December versus a profit of Rs89.95 crore last year. The company’s consolidated revenue from operations increased to Rs2,458 crore in the 2017 quarter versus Rs2,166 crore ayear ago. Shares traded 0.69% lower at Rs548.15.
- 11.08 am IST Banking stocks fall after RBI rejigs bad loan rulesBanking stocks fell as analysts expect that provisioning state-owned lenders will remain at an elevated level after the Reserve Bank of India (RBI) scrapped corporate debt restructuring (CDR), strategic debt restructuring (SDR), sustainable structuring of stressed assets (S4A) and joint lenders forum (JLF) schemes to restructure defaulted loans.
- 9.47 am IST Bank of Baroda stock trades lower as profit declines in Q3Bank of Baroda shares declined 1.5% to Rs166.10 after it reported a 55.8% decline in its December quarter net profit due to higher provisions and lower other income. Net profit for the quarter fell to Rs111.78 crore for the quarter ended 31 December from Rs252.67 crore a year ago.
- 9.43 am IST Mr Bond makes his voice heardIt is perhaps too ambitious to say that the bond market actually managed to push back against the might of the Indian government, but there is no doubt that it made its voice heard.
Mr Bond makes his voice heard https://t.co/lpVMFTllba— Livemint (@livemint) February 13, 2018
- 9.40 am IST Rupee, bond prices gain as inflation softensIndian government bond prices and rupee gained on the back of better-than-expected key macroeconomic data. The rupee opened at 64.17 a dollar, and was trading at 64.12, up 0.28% from its Monday’s close of 64.32. On Tuesday, markets were closed due to Mahashivratri.