Market Wrap: Sensex closes below 35,000, Nifty ends at 10,618, pharma, IT stocks fall
BSE Sensex closed 187.76 points lower at 34,915.53, while the Nifty 50 ended 61.40 points down at 10,618.25. Here are the highlights from the markets
Last Modified: Fri, May 04 2018. 05 15 PM IST
- 3.35 pm ISTClosing bell
- 2.20 pm ISTMarket update
- 2.17 pm ISTRupee weakens against US dollar
- 2.10 pm ISTEuropean stock markets rise at open
- 1 pm ISTNCC shares rise 3% on new orders
- 12.55 pm ISTGodrej Properties shares gain 4% as Q4 profit doubles
- 12.05 pm ISTSensex falls 200 points, Nifty near 10,600
- 11.36 am ISTIndia services growth picks up pace in April as demand improves
- 11.33 am ISTHexaware Technologies shares plunge 10%
- 11.27 am ISTHCC shares gain 7%
- 10.25 am ISTMarket update
- 10.15 am ISTPC Jeweller shares gain 8%
- 9.40 am ISTBharti Airtel shares gain nearly 3%
- 9.35 am ISTJSW Energy shares down 5% after earnings
- 9.27 am ISTSensex, Nifty trade lower
- 9.25 am ISTRupee trades flat against US dollar
- 9.23 am ISTAsian stocks trade lower
- Mumbai: Indian shares closed lower on Friday dragged by IT and pharma stocks and following losses in global equities. Asian shares stepped back, while the dollar ran into some profit-taking after a strong week of gains as financial markets turned their attention to looming US payrolls data for fresh catalysts, Reuters reported. Foreign investors sold shares worth Rs148.42 crore, on net basis, and domestic investors sold shares worth Rs578.92 crore in Thursday’s trade, provisional data showed. Here are the latest updates from the markets:
- 3.35 pm IST Closing bellBSE Sensex closed lower by 187.76 points, or 0.53%, to 34,915.53, while the Nifty 50 fell 61.40 points, or 0.57%, to close at 10,618.25. All the sectoral indices on BSE, except consumer durables, ended lower with telecom, pharma, metal and auto losing over 1%. Consumer durables gained 1.19%. BSE MidCap and SmallCap declined 0.35% and 0.25%, respectively. Adani Ports, Hindustan Unilever, HDFC Bank and Power Grid were top gainers, whereas Sun Pharma, Yes Bank, Bajaj Auto and ITC were among the major losers.
- 2.17 pm IST Rupee weakens against US dollarThe Indian rupee on Friday weakened against the US dollar after local equity markets fell for the second session. The home currency was trading at 66.80 against US dollar, down 0.24% from its Thursday’s close of 66.65. The rupee opened at 66.63 a dollar and touched a low of 66.81. Yields on 10-year government bond stood at 7.728% from its previous close of 7.734%. Bond yields and prices move in opposite directions.
- 2.10 pm IST European stock markets rise at openEuropean stock markets rose at the open on Friday awaiting key US jobs data, while British Airways-parent IAG shot to the top of the London stock market on soaring profits. London’s benchmark FTSE 100 index grew 0.4% to 7,529.41 points. In the eurozone, Frankfurt’s DAX 30 gained 0.4% to 12,733.19 points and the Paris CAC 40 won 0.1% to 5,495.71.
- 12.55 pm IST Godrej Properties shares gain 4% as Q4 profit doublesGodrej Properties Ltd shares rose 3.70% to Rs814.30 after the company reported a net profit of Rs142 crore in the March 2018 quarter compared to a profit Rs62.59 crore year ago. Revenue from operations rose to Rs521 crore from Rs431 crore last year.
- 11.36 am IST India services growth picks up pace in April as demand improvesActivity in India’s dominant service sector accelerated in April thanks to a pick up in new business that encouraged firms to hire at the fastest pace in seven years, a private survey showed on Friday. Indications of solid services and manufacturing growth, supported by improved demand, suggest Asia’s third largest economy is motoring along nicely as it shrugs off disruptions caused by a goods and services tax (GST) and demonetisation.The Nikkei/IHS Markit Services Purchasing Managers’ Index rose to a three-month high at 51.4 in April from March’s 50.3, holding above the 50-mark that separates growth from contraction for a second month. (Reuters)
- 10.25 am IST Market updateBSE Sensex traded lower by 100.36 points, or 0.29%, to 35,002.78, while the Nifty 50 fell 36 points, or 0.36.65%, to 10,643. Among the sectoral indices, realty, telecom and industrials traded higher, while metal, auto, energy and healthcare declined. BSE MidCap and SmallCap fell 0.17% and 0.07%, respectively. Adani Ports, ONGC, SBI and IndusInd Bank were top gainers, whereas Asian Paints, Sun Pharma, Infosys and Bajaj Auto were among major losers.
- 9.25 am IST Rupee trades flat against US dollarThe Indian rupee was trading little changed against US dollar ahead of US payrolls data due later on Friday. The home currency was trading at 66.64 against US dollar, up 0.01% from its Thursday’s close of 66.65. The rupee opened at 66.63 a dollar. Yields on 10-year government bond stood at 7.732% from its previous close of 7.734%. Bond yields and prices move in opposite directions.
- 9.23 am IST Asian stocks trade lowerAsian stocks declined as investors assessed the implications of ongoing trade talks between the U.S. and China. The dollar extended a drop ahead of the monthly US jobs report, while the Aussie advanced. Attention now turns to the health of the U.S. economy, with wages growth and jobs data due Friday. Hang Seng fell 0.7%, Shanghai Composite dropped 0.3% and South Korea’s Kospi index lost 0.8%.
First Published: Fri, May 04 2018. 09 27 AM IST