BackSensex closes down 188 points, Nifty 0.69% lower as metal, energy stocks fall
BSE Sensex closed lower by 188 points, or 0.64%, to 29,233, while the Nifty 50 fell 63 points, or 0.69%, to 9,045. Here are the latest updates
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The benchmark BSE Sensex extended losses on Monday and closed lower by 188 points following sustained selling in metal, energy, telecom, oil&gas, FMCG and Auto sectors amid weak Asian cues. Market turned volatile on Asian weakness following Donald Trump’s failure to push through his key health care legislation raised doubts whether he will be able to push through tax reforms and mega-spending packages.
Also Read|Donald Trump tastes failure as US House healthcare bill collapses
Major losers were, Tata Steel 2.84%, Coal India 2.28%, Reliance 2.03 percent, Tata Motors 1.46%, Asian Paint 1.42% and SunPharma 1.39%.
Foreign portfolio investors (FPIs) bought shares worth Rs543.35 crore on last Friday, as per provisional data released by the stock exchanges. Globally, Asian markets were mostly lower after President Trump suffered a legislative defeat last Friday when Republican leaders pulled a bill to overhaul the US health care system. The US stocks ended lower last Friday, as House Republicans withdrew the American Health Care Act after determining that they did not have enough votes to pass the bill.
3.30pm: BSE Sensex closed lower by 188 points, or 0.64%, to 29,233, while the Nifty 50 fell 63 points, or 0.69%, to 9,045.
2.30pm: BSE Sensex trades lower by 111 points, or 0.38%, to 29,311, while the Nifty 50 falls 48 points, or 0.53%, to 9,060. Idea Cellular shares fall 3.30% to trade at Rs87.90.
1.35pm: BSE Sensex trades lower by 252 points, or 0.85%, to 29,170, while the Nifty 50 falls 80 points, or 0.87%, to 9,028. Tata Steel shares fall 3.36% to trade at Rs476.65.
12.13pm: BSE Sensex trades lower by 201 points, or 0.68%, to 29,220, while the Nifty 50 falls 68 points, or 0.75%, to 9,040.
10.30am: BSE Sensex trades lower by 137 points, or 0.46 %, to 29,285, while the Nifty 50 falls 47 points, or 0.52%, to 9,061. The Reliance Industries shares fall 1.87% to trade at Rs1,262.10.
10.00am: Aviation stocks trade higher. Jet Airways India Ltd shares rise 3%, SpiceJet Ltd shares rise 5.6%, InterGlobe Aviation Ltd shares rise 2.6%.
9.50am: Telecom stocks trade lower. Idea Cellular Ltd shares fall 3.7%, Reliance Communications Ltd shares fall 2.6%, Bharti Airtel Ltd shares fall 1.1%.
9.45am: GVK Power & Infrastructure Ltd shares rise 5% to ₹ 6.09. GVK Power & Infrastructure completed the 33% stake sale in Bial to FIH Mauritius, Fairfax for 20.2b rupees, according to a company statement post-market on March 24.
9.40am: Fortis Healthcare Ltd shares rise 1.5% to ₹ 179.45 after Bloomberg reported that the company is weighing a buyout of the Singapore-listed business trust that owns some of its clinics. Fortis is considering making an offer for all the units it doesn’t already own in RHT Health Trust, which has a market value of S$726m ($520m).
9.30am: BSE Sensex trades lower by 82 points, or 0.28%, to 29,339, while the Nifty 50 falls 33 points, or 0.36%, to 9,075.
9.26am: Reliance Industries Ltd shares fall 1.4% to Rs1,268 after the Securities and Exchange Board of India (Sebi) on Friday banned Reliance Industries Ltd (RIL) from accessing the equity derivatives market for a year, and directed the company to disgorge the profits made by violating the rules on unfair trade practices when it sold a stake in its erstwhile unit Reliance Petroleum Ltd.
9.25am: Aurobindo Pharma Ltd shares fall 2.6% to Rs670.05, Strides Shashun Ltd fell 1.4% to Rs1,122.85. The European drug regulator has recommended suspension of around 300 medicines on which bio-equivalence studies were conducted by the Chennai-based Micro Therapeutic Research Labs (MTRL), citing unreliability of data.
9.20am: Westlife Development Ltd shares rise 6% to ₹ 21.90 after brokerage firm CLSA rated the stock with buy rating and increased its target price to ₹ 300 a share.
9.15am: The rupee was trading at 65.23, up 0.26% from its Friday’s close of 65.42.
9.10am: The 10-year bond yield was trading at 6.818%, compared to its Friday’s close of 6.831%. Bond yields and prices move in opposite directions.
9.00am: Japanese yen was up 0.87%, South Korean won 0.82%, Taiwan dollar 0.61%, Thai baht 0.29%, Singapore dollar 0.27%, Malaysian ringgit 0.25%, China Offshore 0.24%, China renminbi 0.13%, Philippines peso 0.13%, Indonesian rupiah 0.11%.
With inputs from PTI
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