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Business News/ Market / Stock-market-news/  Market Wrap: Sensex, Nifty close lower for fourth session, BSE Metal falls over 3%
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Market Wrap: Sensex, Nifty close lower for fourth session, BSE Metal falls over 3%

BSE Sensex closed lower by 300.16 points at 33,746.78, while the Nifty 50 fell 99.50 points to close at 10,358.85. Here are the latest updates from markets

BSE Sensex and NSE Nifty closed lower on Monday. Photo: Abhijit Bhatlekar/MintPremium
BSE Sensex and NSE Nifty closed lower on Monday. Photo: Abhijit Bhatlekar/Mint

MUMBAI :Mumbai: Benchmark indices closed lower for the fourth straight session on Monday following losses in Asia equities amid worries about impact of US President Donald Trump’s proposed import tariffs on steel and aluminium. BSE Sensex closed 300 points lower, while NSE’s Nifty 50 ended 100 points down. US President Donald Trump sparking fresh fear among investors about a potential trade war after he has proposed tariffs of 25% on imported steel and 10% on aluminium for “a long period of time”. Here are the highlight from the markets:

05 Mar 2018, 03:34:00 PM IST

Closing bell

BSE Sensex closed lower by 300.16 points, or 0.88%, to 33,746.78, while the Nifty 50 fell 99.50 points, or 0.95%, to close at 10,358.85. BSE MidCap and SmallCap declined 0.95 and 1.09%, respectively. All the sectoral indices on BSE, except IT, Teck and consumer durables, ended lower with metal shedding most at 3.30% followed by energy 2.16% and basis materials 2.14%. Sun Pharma, TCS, M&M and SBI were among the top gainers, whereas Tata Motors, Tata Steel, Bajaj Auto and RIL were among the major losers.

05 Mar 2018, 03:11:00 PM IST

Devi Sea Foods files for IPO

Devi Sea Foods Ltd has filed for an initial public offering, with an aim to raise Rs900 crore. Axis Capital, ICICI Securities, Kotak Mahindra Capital are the book running lead managers to the IPO. (Reuters)

05 Mar 2018, 02:30:00 PM IST

Market update

BSE Sensex traded lower by 282.68 points, or 0.83%, to 33,764.26, while the Nifty 50 fell 100.20 points, or 0.96%, to 10,358.15.

05 Mar 2018, 02:28:00 PM IST

Rupee trades higher against US dollar

The Indian rupee was trading marginally higher against US dollar, tracking gains in its Asian peers. The rupee was trading at 65.11, up 0.09% from its previous close of 65.17. The home currency opened at 65.05 and touched a high and a low of 64.93 and 65.14, respectively. Yields on 10-year government bonds were at 7.75% compared to Wednesday’s close of 7.741%. Bond yields and prices move in opposite directions.

05 Mar 2018, 02:25:00 PM IST

Aurobindo Pharma says USFDA issues Form 483 with nine observations

Aurobindo Pharma Ltd said in a BSE filing that the USFDA has issued a Form 483 with nine observations after inspecting the company’s Unit 4 of Pashamylaram facility in Hyderabad. The inspection was conducted between 12-20 February. The company added that none of the observations are related to data integrity or repetitive in nature. The company further said it is in the midst of providing a comprehensive response to the observations and would be replying to the USFDA within 15 working days. Aurobindo Pharma shares traded at Rs601.65, down 3.60%.

05 Mar 2018, 01:10:00 PM IST

Market update

BSE Sensex traded lower by 380.13 points, or 1.12%, to 33,666.81, while the Nifty 50 fell 132.20 points, or 1.26%, to 10,326.15. BSE MidCap was down 1.18%, while SmallCap declined 1.37%. All the sectoral indices on BSE traded lower. BSE Metal index extended losses and was down 3.67%.

05 Mar 2018, 01:05:00 PM IST

Sanghi Industries gets shareholders nod to raise fund

Sanghi Industries Ltd said its shareholders have approved a proposal to raise up to Rs1,000 crore in one or more tranches. Shares traded 2.97% down at Rs114.20.

05 Mar 2018, 11:50:00 AM IST

Metal stocks trade lower

Metal stock traded lower after US President Donald Trump has proposed to impose a import tariff of 25% on steel and 10% on aluminium. The BSE Metal fell 3.32%. Jindal Steel 6.61%, SAIL 5.50%, NMDC 5.50%, Hindalco 4.64%, JSW Steel 4.58%, Tata Steel 3.12%.

05 Mar 2018, 11:45:00 AM IST

Services PMI contracts in February as inflation hits demand

Activity in India’s service industries contracted in February for the first time since November as rising price pressures led to a decline in new business orders, a private survey showed on Monday. Services activity suffered for most of last year following a ban of high value currency notes in November 2016. The 1 July implementation of a national sales tax was another setback, weakening demand. The Nikkei/IHS Markit Services Purchasing Managers’ Index (PMI) fell to a six-month low of 47.8 in February, compared with January’s 51.7. The 50-mark separates growth from contraction. (Reuters)

05 Mar 2018, 11:43:00 AM IST

HDFC Bank seeks to raise $2.5 billion via share sale

Private sector lender HDFC Bank Ltd is looking to launch its equity share sale of up to $2.5 billion (around Rs15,000 crore) in a fortnight, while HDFC Asset Management Co. Ltd (HDFC AMC) will be filing its draft initial public offer (IPO) papers, three people aware of the developments told Mint. HDFC Bank shares traded 0.68% lower at Rs1867.20.

05 Mar 2018, 10:32:00 AM IST

Market update

BSE Sensex traded lower by 315.93 points, or 0.93%, to 33,731.71, while the Nifty 50 fell 101.55 points, or 0.97%, to 10,356.80. BSE MidCap and SmallCap were down 0.75% and 0.79%, respectively. All the sectoral indices on BSE traded lower with metal, oil and gas, auto, and energy shedding most.

05 Mar 2018, 10:30:00 AM IST

Thomas Cook India shares up over 5%

Thomas Cook India Ltd shares were up 5.5% to Rs253 after the company said it approved proposal to explore company restructuring. The company said it may give shareholders ownership in business services unit Quess Corp.

05 Mar 2018, 10:27:00 AM IST

Motherson Sumi Systems shares decline on block deal

Motherson Sumi Systems Ltd fell 2.1% to Rs313 after huge block deal. Around 1.05 million shares of the company changed hands in a single block deal.

05 Mar 2018, 10:25:00 AM IST

TVS Motor shares rise on February sales

TVS Motor Co. Ltd shares rose 2% to Rs686 after the company said its February sales up 37% year-on-year to 2,90,673 units.

05 Mar 2018, 09:50:00 AM IST

Aurobindo Pharma shares fall after USFDA issues Form 483

Aurobindo Pharma Ltd shares fell 5% to Rs597.20 after the company said the USFDA issues Form 483 for the company’s Unit 4 with nine observations.

05 Mar 2018, 09:47:00 AM IST

Forties Healthcare shares trade lower

Forties Healthcare Ltd shares declined 2.8% to Rs156 after the company said it has received a notice from Serious Fraud Investigation Office asking for certain information and documents to be submitted by 9 March.

05 Mar 2018, 09:45:00 AM IST

Laurus Labs shares gain following completion of USFDA inspection

Laurus Labs Ltd shares rose 2% to Rs542 after the company said that the USFDA completed inspection of its Unit 2 with zero observations under Form 483, and received maiden approval from the drug regulator for TDF tablets used in the treatment of HIV-1 infection.

05 Mar 2018, 09:43:00 AM IST

The Indian economy is gathering momentum

The numbers for the third quarter show that the Indian economy is well on the recovery track, after the twin shocks from demonetisation and the messy transition to the new goods and services tax (GST)

05 Mar 2018, 09:40:00 AM IST

Rupee opens higher against US dollar

The Indian rupee strengthened against the US dollar, tracking gains in its Asian peers. The home currency opened at 65.05 and touched a high and a low of 65.03 and 65.08, respectively. The rupee was trading at 65.06, up 0.20% from its previous close of 65.17. Yields on 10-year government bonds were at 7.740% compared to Wednesday’s close of 7.741%. Bond yields and prices move in opposite directions.

05 Mar 2018, 09:35:00 AM IST

Market update

BSE Sensex traded lower by 205.55 points, or 0.60%, to 33,841.39, while the Nifty 50 fell 65.50 points, or 0.63%, to 10,392.85.

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