Markets wrap: Sensex retreats from record high, Nifty closes at 107007 min read . Updated: 16 Jan 2018, 05:19 PM IST
BSE Sensex closed lower, while the Nifty ended at 10,700 points. Here are the main highlights from the markets today
MUMBAI : Mumbai: Benchmark BSE Sensex shed 72 points on Tuesday after three straight record-setting sessions on emergence of profit-booking and weak macroeconomic data. Sentiment turned weak after data released after market hours on Monday showed that the country’s trade deficit or difference between imports and exports, reached $14.88 billion in December, up about 41% year-on-year, as crude oil and gold import bill inflated. The BSE 30-share barometer, after a higher start at 34,877.71, advanced to 34,936.03 in morning trade on continued buying by investors driven by encouraging quarterly earnings. However, across-the-board profit booking at record levels pulled it down to a low of 34,735.55. It finally settled 72.46 points, or 0.21% lower at 34,771.05. The gauge had gained 410.44 points in the previous three sessions and closed at an all-time high of 34,843.51 yesterday. The wider NSE Nifty too slipped from record but managed to close above the crucial 10,700 mark at 10,700.45 points, down 41.10 points or 0.38%. It shuttled between 10,762.35 and 10,687.85 during the session. Yesterday, it had closed at a new life-time high of 10,741.55. Here are the highlights from the markets on Tuesday:
Closing bell: Sensex retreats from record high, Nifty at 10700
Sensex retreats from record high, slips 72.46 points to end at 34,771.05; Nifty falls 41.10 points to 10,700.45. (PTI)
Sensex, Nifty trade rangebound
BSE Sensex trades lower by 46.83 points, or 0.13%, to 34,796.68, while the Nifty 50 falls by 30.15 points, or 0.28%, to 10,711.40.
Sensex, Nifty fall
BSE Sensex trades lower by 59.12 points, or 0.17%, to 34,784.39, while the Nifty 50 falls by 29.60 points, or 0.28%, to 10,711.95.
Baja Finance shares fall by over 2%
Bajaj Finance Ltd on Tuesday said it will acquire 12.60% stake in mobile wallet company Mobikwik as against 10.83% stated earlier due to a change in conversion price of the compulsory convertible cumulative preference shares.Shares of Bajaj Finance were trading down 2.16% at Rs1,704.25 on BSE.
Rupee weakens against US dollar
The Indian rupee on Tuesday weakened past 64-mark to hit near three week low against US dollar after the country’s trade deficit widened to a three-year high on higher oil and gold imports. At 2.23pm, the home currency was trading at 64.01 a dollar, down 0.78% from its Monday’s close of 63.49. The rupee opened at 63.63 a dollar and touched a low of 64.01—a level last seen on 29 December 2017.The 10-year bond yield was at 7.377%—a level last seen on 2 January, compared to its previous close of 7.269%. Bond yields and prices move in opposite directions. So far this year, rupee gained 0.6%, while foreign investors bought $254.60 million and $520.10 million in equities and bonds, respectively.
Sensex, Nifty fall
BSE Sensex trades lower by 36.03 points, or 0.10%, to 34,807.48, while the Nifty 50 falls by 30.05 points, or 0.28%, to 10,711.50.
IT stocks rise, Nifty IT index jumps over 3%
Shares of IT services firms such as Infosys Ltd, Tata Consultancy Services Ltd and Wipro Ltd rose after Morgan Stanley said it expected a turnaround for these stocks in 2018. The Nifty IT index jumped over 3%, gaining after two consecutive sessions of losses. (Reuters)
Oil stocks fall, Nifty energy index slides over 1.5%
Oil refiners fell as global oil prices rose to near three-year highs due to production curbs in OPEC nations and Russia and robust demand from healthy global economic growth. Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd slipped more than 2%, while Indian Oil Corp Ltd was down 1.7%. The Nifty energy index slid as much as 1.6%. (Reuters)
Sensex, Nifty in the red
BSE Sensex trades lower by 38.59 points, or 0.11%, to 34,804.92, while the Nifty 50 falls by 26.55 points, or 0.25%, to 10,715.00.
Galaxy Surfactants gets Sebi’s go-ahead to float IPO
Speciality chemicals manufacturer Galaxy Surfactants has received capital markets regulator Sebi’s go-ahead to raise an estimated Rs 1,000 crore through an initial public offer (IPO). The company had filed its draft papers with Securities and Exchange Board of India (Sebi) in November last year and obtained ‘observations’ from the regulator on 12 January 2018, the latest update with markets watchdog showed. During Galaxy Surfactants’ initial share sale, as many as 307 shareholders will sell 63,31,674 shares of the company, according to the draft red herring prospectus (DRHP). According to merchant banking sources, the IPO is expected to fetch Rs1,000 crore. ICICI Securities, Edelweiss Financial Services and JM Financial Institutional Securities will manage the company’s public issue. The firm’s equity shares are proposed to be listed on BSE and NSE. This is the company’s second attempt to go public. Earlier in 2011, Galaxy Surfactants had entered the capital markets to raise over Rs200 crore through its initial share sale. However, it withdrew from the IPO market due to tepid response from investors. (PTI)
Sensex, Nifty rise
BSE Sensex trades higher by 49.83 points, or 0.14%, to 34,893.34, while the Nifty 50 rises by 3.90 points, or 0.04%, to 10,745.45.
Hindustan Unilever shares rise
Hindustan Unilever Ltd, India’s largest packaged consumer products firm by sales, on Tuesday became the country’s eighth company to cross Rs3 trillion market capitalisation after its shares surged over 70% in the last one year. The stock touched a fresh record high of Rs1,388.45 on the BSE, up 1.4% from its previous close with a market cap of Rs3.01 trillion. The Sensex index was trading marginally higher by 0.18%. At 10.03am, HUL was trading at Rs1,385 on the BSE, up 1.3%. Read more
Tech Mahindra shares gain 3%
Shares of Tech Mahindra Ltd on Tuesday surged more than 3% to its 52-week high in morning trade after the IT major said it has partnered with Israel’s ContextSpace for cybersecurity. Shares of the company opened on a bullish note at Rs548.10, then surged 3.20% to touch a high of Rs561.35 on the BSE. On the NSE the stock opened at Rs548, then jumped 3.26% to a high of Rs561.50. (PTI)
Crude prices, currency market update
Benchmark US crude rose 20 cents to $64.50 per barrel in electronic trading on the New York Mercantile Exchange. The contract advanced 50 cents to $64.30 on Monday. Brent crude, used to price international oils, shed 26 cents to $70.00 in London. It gained 39 cents the previous session to $70.26. The dollar gained to 110.93 yen from 110.51 yen. The euro slipped to $1.2264 from $1.2266. (AP)
Asian stocks trade higher
The Shanghai Composite Index rose 0.3% to 3,420.80 and Tokyo’s Nikkei 225 added 0.8% to 23,905.40. Hong Kong’s Hang Seng gained 1.3% to 31,751.60 and Seoul’s Kospi advanced 0.4% to 2,513.51. Markets in New Zealand, Taiwan and Southeast Asia also gained. Sydney’s S&P-ASX 200 shed 0.4% to 6,056.20. (AP)
Sensex trades above 34854, Nifty hovers around 10734
BSE Sensex trades higher by 11.44 points, or 0.03%, to 34,854.95, while the Nifty 50 declines by 7.55 points, or 0.07%, to 10,734.00.
BPCL shares fall 1.81%
Bharat Petroleum Corp. Ltd sells ‘Bharat IV’ standard gasoline. Its shares fells 1.81% to Rs478.10 on BSE.
Reliance Industries shares fall 1.5%
Reliance Industries Ltd fell 1.5% to Rs933.60 after brokerage firm UBS initiated ‘Sell’ rating on the stock and kept its target at Rs870 apiece.
Gujarat Narmada Valley Fertilizers & Chemicals shares fall 9%
Gujarat Narmada Valley Fertilizers & Chemicals Ltd fell 9% to Rs493 after the company said it has shutdown its Dahej plant due to sudden leakage. The company said in a release to exchanges that it has decided to close the plant indefinitely till the root cause is thoroughly analysed, reviewed and necessary further safety measures to be taken are fully evaluated in addition to current safety precautions.
Sensex, Nifty pare early gains
BSE Sensex trades lower by 55.43 points, or 0.16%, to 34,788.08, while the Nifty 50 declines by 28.65 points, or 0.27%, to 10,712.90.
Bharat Bijlee shares rise 2%
Bharat Bijlee Ltd rose 2% to Rs1,405 after the company said it will receive Rs46.79 crore from MIDC towards acquisition of land situated at Navi Mumbai.
BL Kashyap and Sons shares rise 3%
BL Kashyap and Sons Ltd rose 3% to Rs66.75 after the company said Standard Chartered Bank approved one-time settlement scheme.
BSE shares fall over 3%
BSE Ltd fell 3.2% to Rs949.75. BSE board approved a buyback of up to 15 lakh shares at Rs1,100 per share; will spend Rs166 crore on buyback.
Delta Corp shares rise 5% over December earnings
Delta Corp. Ltd rose 5% to Rs333.15 after the company reported 347% surge in its December quarter net profit to Rs44.70 crore. Revenue up 56% to Rs162 crore.
Sensex, Nifty rise
BSE Sensex trades higher by 82.81 points, or 0.24%, to 34,962.32, while the Nifty 50 rises 15.65 points, or 0.15%, to 10,757.20.
IT stocks rise
IT stocks were trading higher. Wipro Ltd rose 2.1%, Infosys Ltd 1.8% and Tata Consultancy Services Ltd was up 1.4%.
Federal Bank shares fall over 3% on weak Q3 earnings
Federal Bank fell 3.3% to Rs110.45 after the bank reported weaker-than-expected earnings. The bank reported higher gross and net slippages. Gross slippages was at Rs435 crore, while net slippages was at Rs190 crore.
Rupee, bond prices fall
The Indian rupee and bond prices fell on Tuesday after the country’s trade deficit widened to a three-year high on higher oil and gold imports. The rupee opened at 63.63 a dollar and touched a low of 63.71. At 9.15am, it was trading at 63.70 a dollar, down 0.32% from its Monday’s close of 63.49.
Asian currencies trade lower
Japanese yen was down 0.33%, South Korean won 0.18%, Philippines peso 0.14%, Singapore dollar 0.09%, Thai baht 0.05% and China offshore fell 0.05%.
Sensex, Nifty trade higher
BSE Sensex trades higher by 38.36 points, or 0.11%, to 34,881.87, while the Nifty 50 rises marginally by 4.05 points, or 0.04%, to 10,745.60.