Market Wrap: Sensex, Nifty close lower as RBI decision awaited, PSU bank stocks gain
BSE Sensex closed lower by 67.28 points to 32,802.44, while the Nifty 50 edged down 9.50 points to close at 10,118.25. Here are the latest updates from the markets
Last Modified: Tue, Dec 05 2017. 04 43 PM IST
- 3.32 pm ISTClosing bell
- 3.20 pm ISTPNB raises Rs1,315 crore by selling PNB Housing Finance shares
- 2.43 pm ISTMarket update
- 2.40 pm ISTRupee trades lower against US dollar
- 2.38 pm ISTBHEL receives order worth Rs215
- 1.22 pm ISTMarket update
- 1.20 pm ISTEncore Healthcare files insolvency case against Bafna Pharma
- 1.04 pm ISTHSBC Global Research begins coverage on IndiGo, SpiceJet, JetAirways
- 1.00 pm ISTFitch withdraws RCom ratings
- 12.57 pm ISTShalby IPO subscribed 3% so far on first day
- 11.45 am ISTMarket update
- 11.33 am ISTServices activity falls in November
- 11.30 am ISTShalby IPO opens today
- 10.26 am ISTAsian Development Bank approves financing of Reliance Power project
- 10.23 am ISTHPCL shares gain as brokerage firm maintains rating
- 10.20 am ISTEros International Media shares rise on $100 million funding by unit
- 9.37 am ISTMarket update
- 9.35 am ISTReliance group shares fall
- 9.33 am ISTBharat Forge shares gain on November sales data
- 9.30 am ISTJust Dial shares rise 2% on stake purchase by HDFC MF
- 9.18 am ISTSensex, Nifty open lower
- 9.15 am ISTRupee opens higher against US dollar
- 9.13 am ISTAsian currencies trade higher
- Mumbai: The BSE Sensex and NSE Nifty closed marginally lower on Tuesday as traders are cautious ahead of the Reserve Bank of India’s policy decision on Wednesday. The Nifty PSU Bank rose 1.37% led by SBI, which was up 2.17%. On the losing side, the BSE Power fell 1.06%. SBI, Bharti Airtel and Reliance Industries were the top gainers, while Hero MotoCorp, Wipro and Tata Steel were among the major losers.Most of the analysts polled by Mint expect the central bank to keep interest rates on hold for a prolonged period starting with its policy meeting on concerns of rising inflation. All 15 economists surveyed expect the central bank’s monetary policy committee (MPC) to keep the key repo rate unchanged at 6% when it announces its decision on Wednesday. Here are the latest updates from the markets:
- 2.40 pm IST Rupee trades lower against US dollarThe home currency was trading at 64.40 a dollar, down 0.05% from its Monday’s close of 64.38. The rupee opened at 64.34 a dollar, and touched a high and a low of 64.23 and 64.43 respectively. The 10-year bond yield was at 7.062%, compared to its previous close of 7.083%.
- 1.20 pm IST Encore Healthcare files insolvency case against Bafna PharmaBafna Pharmaceuticals Ltd said Encore Healthcare Pvt. Ltd has filed a case against the company under the Insolvency and Bankruptcy Code with the National Company Law Tribunal in Chennai. Bafna Pharma shares were down 0.38% to Rs25.95.
- 1.04 pm IST HSBC Global Research begins coverage on IndiGo, SpiceJet, JetAirwaysHSBC Global Research initiates coverage on IndiGo, SpiceJet and Jet Airways stocks, Reuters reported. HSBC begins coverage of IndiGo at “buy” and Rs1,500 price target. SpiceJet Ltd is rated “buy” with a price target of Rs180. Jet Airways (India) Ltd is rated at “hold” with a price target of 600 rupees.Overall, HSBC optimistic on airline sector, saying industry is “at the cusp of a strong recovery” Cites favourable government policies and consolidation in the market as positives. Adds FX, more fuel efficient fleets will offset impact of rising fuel prices.Shares of IndiGo parent InterGlobe Aviation were down 0.32%, Spicejet fell 1.35% and JetAirways declined 1.47%.
- 1.00 pm IST Fitch withdraws RCom ratingsFitch Ratings has withdrawn India-based Reliance Communications Ltd’s (RCom) long-term foreign- and local-currency issuer default ratings of ‘Restricted Default’ and the rating on RCom’s $300 million 6.5% senior secured notes due 2020 of ‘C’ with Recovery Rating of ‘RR4’, the rating agency said in a news release. RCom shares traded 4.07% lower at Rs11.07.
- 12.57 pm IST Shalby IPO subscribed 3% so far on first dayShalby Ltd’s initial public offering (IPO) was subscribed 3% so far on the first day of the share sale on Tuesday, data from stock exchanges showed. As of 12.30pm, the IPO received bids for 470,460 shares against the total issue size of 14,521,686 shares, according to NSE data. The IPO closes on 7 December
- 11.45 am IST Market updateBSE Sensex traded lower by 144.32 points, or 0.44%, to 32,725.40, while the Nifty 50 fell 41.85 points, or 0.41%, to 10,085.90.
- 11.33 am IST Services activity falls in NovemberActivity in India’s dominant services industry shrank in November as rising prices, driven up in part by the new national sales tax, took a toll on both foreign and domestic demand, a business survey showed on Tuesday, Reuters reported. November’s Nikkei/IHS Markit Services Purchasing Managers’ Index fell to 48.5—its lowest since August—from 51.7 in October, well below the 50 mark that separates expansion from contraction
- 11.30 am IST Shalby IPO opens todayThe initial public offering (IPO) of Shalby Ltd will open for subscription on Tuesday with a price band of Rs245-248 per share. The group, which runs a multi-specialty hospital chain, aims to raise Rs504.8 crore through the share sale that will close on 7 December.
- 9.15 am IST Rupee opens higher against US dollarIndian rupee strengthened marginally against the US dollar tracking gains in the Asian currencies market. The rupee opened at 64.34 a dollar. At 9.15am, the home currency was trading at 64.31 a dollar, up 0.10% from its Tuesday’s close of 64.38. The 10-year bond yield was at 7.068%, compared to its previous close of 7.083%.
- 9.13 am IST Asian currencies trade higherAsian currencies were trading higher. South Korean won was up 0.51%, Malaysian ringgit 0.22%, Philippines peso 0.19%, Singapore dollar 0.13%, Thai Baht 0.12%, Indonesian rupiah 0.12%, China renminbi 0.11%, China Offshore 0.1%, Taiwan dollar 0.08%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.054, down 0.14%, from its previous close of 93.188.