Market Wrap: Sensex closes 205 points lower, Nifty at 10,044 as RBI holds rates
BSE Sensex traded lower by 205.26 points to 32,597.18, while the Nifty 50 fell 74.15 points to 10,044.10. Here are the latest updates from the markets
- 3.35 pm ISTClosing bell
- 2.50 pm ISTMarket update
- 2.45 pm ISTRupee trades lower against US dollar
- 2.35 pm ISTRBI holds rates
- 2.08 pm ISTEuropean shares open lower
- 2.05pm ISTMarket snapshot
- 2 pm ISTSectoral indices
- 1.10 pm ISTMarket update
- 1.07 pm ISTFuture Supply Chain IPO subscribed 8% so far on first day
- 1.05 pm ISTGAIL to invest Rs6,000 crore in FY19
- 11.53 am ISTMarket update
- 11.48 am ISTSuven Life Sciences secures product patent from Eurasia, Norway
- 11.45 am ISTReliance Infra receives contracts worth Rs5,000 crore
- 11.03 am ISTMarket update
- 11.00 am ISTAviation stocks trade higher
- 10.58 am ISTBinani Industries shares rise
- 10.20 am ISTFertilizer companies shares gain on possible GST rate cut
- 10.17 am ISTDVDR selects Tata Communications as global IoT connectivity partner
- 10.15 am ISTDish TV India shares decline on quarterly result
- 10.13 am ISTRBI monetary policy today: What to watch for
- 9.31 am ISTBanking stocks trade lower
- 9.28 am ISTTata Steel shares fall on concerns over Thyssenkrupp deal
- 9.25 am ISTMetal stocks trade lower
- 9.21 am ISTSensex, Nifty open lower
- Mumbai: BSE Sensex closed over 200 points lower and NSE Nifty fell below 10,050 on Wednesday after the Reserve Bank of India (RBI) kept key rates unchanged. All NSE indices, except IT, ended lower, with rate sensitive indices suffered most. PSU bank fell 2.10%, financial services 1.29%, auto 0.72% and realty 0.33%. Reliance Industries, Maruti and Hindustan Unilever were the top gainers, whereas Sun Pharma, SBI and ICICI Bank were major losers.RBI kept the key interest rate unchanged at 6% as it feared that inflation may top the central bank’s medium-term target of 4%.Noting several upside risks to inflation, RBI raised its fiscal second half inflation estimate range marginally to 4.3-4.7%.RBI retained its fiscal 2018 forecast for growth in gross value added (GVA), a measure of economic output, at 6.7%.
- 2.45 pm IST Rupee trades lower against US dollarThe Indian rupee was trading at 64.46 a dollar, down 0.11% from its Tuesday’s close of 64.38. The rupee opened at 64.47 a dollar and touched a high and a low of 64.39 and 64.50, respectively. The 10-year bond yield was at 7.049%, compared to its previous close of 7.061%.
- 2.08 pm IST European shares open lowerEuropean stock markets sank at the start of trading on Wednesday, extending a sharp global selloff after more heavy losses in Asia. London’s FTSE shed almost 0.5% to 7,292.71 points. In the eurozone, Frankfurt’s DAX 30 fell 1.2% to 12,897.43 points and in Paris the CAC 40 dropped nearly 0.8% to 5,333.32. (AFP)
- 2 pm IST Sectoral indicesRate sensitive indices traded lower. The Nifty PSU Bank fell 1.27%, the BSE Finance declined 0.65%, the BSE Bankex was down 0.49% and the BSE Auto shed 0.53%.BSE Metal extended losses and was trading 1.86% lower. Jindal Steel down 3.76%, Hindustan Zinc 3.29%, Hindalco 3.04% and Vedanta 2.57%.
- 1.07 pm IST Future Supply Chain IPO subscribed 8% so far on first dayFuture Supply Chain Solutions Ltd’s initial public offering (IPO) witnessed 8% subscription so far on the first day of share sale on Wednesday. As of 12.30pm, the IPO received bids for 519,134 shares against the total issue size of 6,849,200 shares, according to NSE data.
- 11.48 am IST Suven Life Sciences secures product patent from Eurasia, NorwaySuven Life Sciences Ltd said it has secured a product patent from each Eurasia and Norway corresponding to the new chemical entities for the treatment of disorders associated with neurodegenerative diseases. Shares surged 2.73% to Rs195.75.
- 10.20 am IST Fertilizer companies shares gain on possible GST rate cutShares in fertilizer companies gained on expectations that the government may cut duties on some fertilizer inputs. India fertilizers ministry will seek a cut in goods and services tax on ammonia and phosphoric acid from the current 18%, Bloomberg reported quoting chemicals and fertilizers minister Ananth Kumar said.Rashtriya Chemicals & Fertilizers Ltd rose 2.4%, Nagarjuna Fertilizers gains as much as 2.5%, Gujarat State Fertilizers 1%, National Fertilizers 1.6%, Zuari Agro Chemicals 2.3%, Mangalore Chemicals 3.5% and Chambal Fertilisers 1%
- 10.13 am IST RBI monetary policy today: What to watch forThe Reserve Bank of India will probably hold interest rates at a seven-year-low on Wednesday as growth recovers, while investors will focus on whether inflation has quickened decisively enough to signal future tightening.
RBI monetary policy today: What to watch for https://t.co/Exoo4NF3KA— Livemint (@livemint) December 6, 2017
- 9.28 am IST Tata Steel shares fall on concerns over Thyssenkrupp dealTata Steel Ltd fell 1.7% to Rs664 after Bloomberg reported that Germany’s biggest union has given Thyssenkrupp AG until 22 December to guarantee jobs and investments before the labour group will give its blessing to a joint venture with Tata Steel Ltd.