Back
PremiumMUMBAI :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:
BSE 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.
BSE Sensex traded lower by 183.41 points, or 0.52%, to 34,919.73, while the Nifty 50 fell 58.95 points, or 0.55%, to 10,620.70.
The 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.
European 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.
NCC Ltd shares rose 2.76% to Rs132.10 after the company said it has received three new orders totalling to Rs1,276.93 crore pertaining to its electrical division.
Godrej 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.
BSE Sensex traded lower by 201.82 points, or 0.57%, to 34,901.32, while the Nifty 50 fell 60.70 points, or 0.57%, to 10,618.95.
Activity 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)
Hexaware Technologies Ltd shares fell 10.47% to Rs404 after the company reported lower-then-expected earnings. It reported 4.3% increase in revenue to Rs1049 crore while net profit was up 11% to Rs134 crore.
HCC Ltd shares gained 6.84% to Rs18.75 after the company reported 5% drop in its net profit to Rs20 crore in March quarter.
BSE 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.
PC Jeweller Ltd shares rose 8% to Rs131 after the company denied reports that the Central Bureau of Investigation (CBI) was conducting searches at its stores in Nagpur.
Bharti Airtel Ltd shares rose 2.65% to Rs415.10 after ET reported that the company plans to raise as much as $1.5 billion by diluting about 25% of its stake when it lists the holding company of its Africa operations.
JSW Energy Ltd shares fell 5% to Rs77.70 after the company reported a surprise loss for the March quarter to Rs491.54 crore against a profit of Rs2.45 crore a year ago.
BSE Sensex traded lower by 71.16 points, or 0.20%, to 35,031.98, while the Nifty 50 fell 14.35 points, or 0.13%, to 10,665.30.
The 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.
Asian 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%.
Download the App to get 14 days of unlimited access to Mint Premium absolutely free!
