BSE Sensex and NSE Nifty traded lower on Thursday. Photo: Mint
BSE Sensex and NSE Nifty traded lower on Thursday. Photo: Mint

Market Wrap: Sensex closes 73 points lower, Nifty at 10,679, IT, FMCG stocks fall

BSE Sensex closed lower by 73.28 points at 35,103.14, while the Nifty 50 fell 38.40 points, or 0.36%, to 10,679.65. Here are the latest updates from the markets

Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 closed lower on Thursday, dragged by losses in IT and FMCG stocks. Moreover, shares in Europe and Asia also declined as investors are digesting US Federal Reserve decision and as trade negotiations between US and China began in Beijing. Meanwhile, on a net basis, foreign investors sold shares worth Rs525.93 crore, while domestic investors bought shares to the tune of Rs165.84 crore in Wednesday’s trade, provisional data showed. Here are the latest updates from the markets:
03 May 2018, 03:34:00 PM IST

Closing bell

BSE Sensex traded lower by 73.28 points, or 0.21%, to 35,103.14, while the Nifty 50 fell 38.40 points, or 0.36%, to close at 10,679.65. Sixteen out of 19 sectoral indices on BSE ended lower with realty, IT, teck, capital goods and industrials losing over 1%. BSE MidCap and SmallCap declined 1.16% and 0.84%, respectively. Sun Pharma, NTPC, Tata Steel and Axis Bank were top gainers, whereas Wipro, Kotak Bank, Asian Paints and LT were among the major losers.

03 May 2018, 03:22:00 PM IST

Hindusthan Urban Infrastructure shares rise 5%

Hindusthan Urban Infrastructure Ltd shares were trading 5% at Rs1037.40. The company’s March-quarter net profit rose to Rs7.4 crore from Rs5.89 crore a year ago. The company’s revenue for the quarter stood at Rs227 crore versus Rs219 crore year ago.

03 May 2018, 01:50:00 PM IST

Sensex trades flat, Nifty below 10,700

BSE Sensex traded lower by 13.68 points, or 0.04%, to 35,162.74, while the Nifty 50 fell 21.90 points, or 0.20%, to 10,696.15.

03 May 2018, 01:47:00 PM IST

PC Jeweller shares rises 3%

PC Jeweller Ltd said new about the arrest of the company’s owner by CBI is factually incorrect. The company’s shares currently traded 3.43% up at Rs114.45. In intraday trade, the stock fell 14.09% to Rs95.05.

03 May 2018, 01:43:00 PM IST

European stock markets fall at open

Europe’s main stock markets dropped at the start of trading on Thursday following drops across much of Asia and on Wall Street. London’s benchmark FTSE 100 index fell a few points to 7,540.20. In the eurozone, Frankfurt’s DAX 30 lost 0.2% to 12,775.66 points and the Paris CAC 40 shed 0.3% to 5,515.36.

03 May 2018, 01:40:00 PM IST

Oil prices dip on rising US crude inventories, record production

Oil prices dipped on Thursday, weighed down by swelling US crude inventories and record weekly US production that undermined efforts by the Organization of the Petroleum Exporting Countries (Opec) to cut supplies, although potential new US sanctions against Iran kept markets on the edge.Brent crude oil futures were at $73.31 per barrel at 12.24pm, down 5 cents from their last close. US West Texas Intermediate (WTI) crude futures were down just 1 cent at $67.92 per barrel. (Reuters)

03 May 2018, 01:37:00 PM IST

Kirloskar Ferrous Industries shares slump 7% after Q4 result

Kirloskar Ferrous Industries Ltd shares plunged 7.07% to Rs96 after the company reported a net profit of Rs14.92 crore in the March 2018 quarter versus a profit Rs10.34 crore a year ago. Revenue from operations stood at Rs470 crore versus Rs362 crore last year.

03 May 2018, 12:17:00 PM IST

Market update

BSE Sensex traded lower by 129.02 points, or 0.37%, to 35,047.40, while the Nifty 50 fell 57.20 points, or 0.53%, to 10,660.85. All the sectoral indices on BSE traded lower with realty, capital goods, industrials and FMCG losing up to 2%. BSE MidCap and SmallCap declined 1.31% and 1.16%, respectively. Axis Bank, ICICI Bank, Adani Ports and Sun Pharma were top gainers, whereas L&T, Kotak Bank, Yes Bank and Tata Motors were among the major losers.

03 May 2018, 12:10:00 PM IST

Hindustan Construction shares tank 18% following Lavasa defaults on bond payment

Hindustan Construction Co. Ltd shares fell 18% to Rs19.10 after its arm Lavasa said that it has defaulted on dues payable to bond holders and also has external borrowing from bank and financial institutions, principal and interest repayment of which has been delayed.

03 May 2018, 12:00:00 PM IST

IndiGo shares plunge 18%, its biggest fall since January 2016

Shares of InterGlobe Aviation Ltd on Thursday plunged nearly 18%, its steepest fall since January 2016, after the company reported a 75% drop in its March-quarter earnings. IndiGo shares fell as much as 17.57% in intraday trade, its biggest fall since 22 January 2016 and touched a low of Rs111.30 a share—a level last seen on 18 October 2017. At 9.50am, the stock was trading at Rs1,142.70 on BSE, down 15.25% from its previous close. So far this year, it declined 4.5%.

03 May 2018, 10:10:00 AM IST

Market update

BSE Sensex traded lower by 46.11 points, or 0.13%, to 35,130.31, while the Nifty 50 fell 27 points, or 0.25%, to 10,691.05.

03 May 2018, 10:07:00 AM IST

HCL shares fall 7%

HCL Technologies Ltd shares fall 6.92% to Rs931.75 after the company posted a 9.8% drop in consolidated net profit for the March 2018 quarter. On Wednesday, HCL shares closed 4.79% lower at Rs1,001.05

03 May 2018, 10:03:00 AM IST

Firms shelve $3 billion bond sales on fears of Fed hike

Uncertainty around possible rate hikes by the US Federal Reserve and a consequent rise in volatility in the US bond market has led several Indian firms and financial institutions to shelve their overseas fund-raising plans. Indian corporate bond issues worth over $3 billion have been shelved as firms wait on the sidelines, keeping a vigil on interest rates in the US.

03 May 2018, 10:00:00 AM IST

Biocon shares fall 4% after regulators issue observations

Biocon Ltd shares fell 4.24% to Rs635.35 after the company said it has received observations from US and European regulators.The USFDA has completed pre-approval inspection of the sterile drug product manufacturing facility in Bengaluru this week and issued a Form 483 with 7 observations, the filing said. The company has also this week received the preliminary report from the European Regulator post inspection of its sterile drug product facility in Bengaluru in March 2018, the spokesperson added.

03 May 2018, 09:45:00 AM IST

IndiGo shares down 5%

Interglobe Aviation Ltd shares fell 5% to Rs1289 after the company reported 73% drop in net profit in March quarter to Rs 117.64 crore from Rs 440 crore a year ago.

03 May 2018, 09:30:00 AM IST

Sensex, Nifty trade marginally lower

BSE Sensex traded lower by 21.99 points, or 0.06%, to 35,154.43, while the Nifty 50 fell 15.20 points, or 0.14%, to 10,702.85.

03 May 2018, 09:27:00 AM IST

Rupee opens marginally higher against US dollar

The Indian rupee on Thursday opened marginally stronger against the US dollar in opening trade. The rupee opened at 66.66 a dollar. At 9.15am, the home currency was trading at 66.61 against US dollar, up 0.08% from its Wednesday’s close of 66.67. Yields on 10-year government bond stood at 7.725% from its previous close of 7.735%. Bond yields and prices move in opposite directions.

03 May 2018, 09:25:00 AM IST

Asia stocks down after Fed policy outcome

Asian stocks tracked U.S. shares lower after the Federal Reserve said inflation is close to its target, without indicating any need to waver from its path of gradually tightening monetary policy. Fed officials may have signaled their willingness to allow inflation to exceed their 2 percent goal somewhat by adding a reference to the “symmetric” nature of their target. Hong Kong’s Hang Seng Index fell 1.5%, Kospi index was little changed and the Shanghai Composite Index lost 0.5%. The MSCI Asia Pacific excluding Japan Index fell 0.4%.