Market Wrap: Sensex plunges 300 points, Nifty ends at 10596, Wipro, ICICI Bank top losers
6 min read.Updated: 18 May 2018, 05:01 PM ISTLivemint
BSE Sensex closed lower by 300.82 points at 34,848.30, while the Nifty 50 ended 86.30 points down at 10,596.40. Here are the highlights from the markets
Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 closed lower for a fourth straight session on Friday dragged by market heavyweights ICICI Bank, RIL and HDFC Bank, following foreign fund outflows and mixed sentiment in global stock markets. Investor were cautious over developments in US-China trade negotiations and rising oil prices. Foreign investors sold shares worth Rs830.94 crore on net basis, while domestic investors bought equities to the tune of Rs428.92 crore on Thursday, as per provisional data. Here are the latest updates from the markets:
18 May 2018, 03:35:00 PM IST
Closing bell: Sensex, Nifty close lower for 4th session
BSE Sensex closed lower by 300.82 points, or 0.86%, to 34,848.30, while the Nifty 50 fell 86.30 points, or 0.81%, to close at 10,596.40. All the sectoral indices on BSE ended lower with capital goods losing most at 3.05%, industrials 2.54%, metal 2.36% and healthcare 2.06%. BSE MidCap and SmallCap declined 1.47% and 1.62%, respectively. Hindustan Unilever, Kotak Bank, IndusInd Bank and ITC were top gainers by rising up to 2.22%, whereas Wipro, ICICI Bank, Sun Pharma and L&T were among the major losers, falling over 3%.
18 May 2018, 03:08:00 PM IST
Market update: Sensex down 300 points
BSE Sensex traded lower by 312.04 points, or 0.89%, to 34,837.08, while the Nifty 50 fell 82.40 points, or 0.77%, to 10,600.30.
18 May 2018, 03:05:00 PM IST
Strides Shasun shares fall 22% after Q4 results
Strides Shasun Ltd shares slumped 21.78% to Rs393.40 after the company reported a net loss from continuing operations of Rs4.40 crore, compared to a profit of Rs91.59 crore.
18 May 2018, 02:50:00 PM IST
Bajaj Auto’s Q4 profit beats estimates, jumps 34% to Rs1079.87
Bajaj Auto Ltd on Friday reported a 34.67% jump in March quarter (Q4) net profit on the back of higher motorcycle and three-wheeler sales in domestic and overseas markets. Net profit at the maker of Pulsar and Discover motorcycles rose to Rs1,079.87 crore in the three months ended 31 March from Rs801.82 crore a year ago, the company said in a regulatory filing. Net sales rose 29.89% to Rs6,650.81 crore from Rs5,120.54 crore a year earlier. Bajaj Auto shares were up 0.34% at Rs2809.65.
18 May 2018, 02:23:00 PM IST
Rupee declines against US dollar
The Indian rupee on Friday weakened against the US dollar after local equity markets fell on worries of higher crude oil prices. The rupee was trading at 67.99 against the US dollar, down 0.42% from its previous close of 67.70. The currency opened at 67.74 a dollar and touched a low of 68.03.Bond yield fell for third sessions after a Cogencis report saying that the finance ministry wants more state-run banks to participate in government bond auctions. The 10-year bond yield stood at 7.819%, up from its Thursday’s close of 7.881%. Bond yields and prices move in opposite directions.
18 May 2018, 01:25:00 PM IST
Sensex, Nifty extend losses
BSE Sensex traded lower by 250.31 points, or 0.71%, to 34,898.81, while the Nifty 50 fell 70.65 points, or 0.66%, to 10,612.05.
18 May 2018, 01:20:00 PM IST
RCom shares slump 6% after report of uncertainty over ericsson settlement talks
Shares of Reliance Communications Ltd fell 6.34% to Rs15.50 after Reutersreported, citing sources, that a deal with Ericsson looks unlikely for now. RCom has approached Ericsson, but with a lack of clarity around payment of dues “a settlement currently looks uncertain,” said Reuters, citing one of the sources familiar with the matter said.
18 May 2018, 01:00:00 PM IST
Oil rides best weekly winning streak since 2011
Oil prices in London are set for the longest weekly run of gains in seven years on growing concerns over supply disruptions from the Middle East to Venezuela and on signs a global glut has dwindled.Brent futures are heading for a sixth weekly advance after topping $80 a barrel for the first time since 2014 on Thursday. Brent for July settlement added 26 cents to $79.56 a barrel on the London-based ICE Futures Europe exchange. Prices were up 3.2% this week, after reaching $80.50 on Thursday, the highest intraday level since November 2014. The global benchmark crude traded at a $7.82 premium to July West Texas Intermediate (WTI).
18 May 2018, 12:55:00 PM IST
Meera Industries wins order worth $41,000
Meera Industries Ltd said it has received an export order of $41,000 from a company from Uzbekistan. Shares were trading 1% lower at Rs247.
18 May 2018, 12:08:00 PM IST
Market update: Sensex down 160 points
BSE Sensex traded lower by 162.10 points, or 0.46%, to 34,987.02, while the Nifty 50 fell 46 points, or 0.43%, to 10,636.70.
18 May 2018, 12:00:00 PM IST
Bhushan Steel says executed agreements to implement Tata Steel resolution plan
Bhushan Steel Ltd said the company has on 17 May executed agreements for implementation of resolution plan by Tata Steel Ltd as approved by NCLT, New Delhi. Bhushan Steel shares were up 4.93% to Rs27.65, while Tata Steel shares fell 1.30% to Rs602.10.
18 May 2018, 11:57:00 PM IST
Asian stocks steady
Asian stocks were steady amid caution over developments in US-China trade negotiations, while the dollar perched near a five-month peak after the benchmark US Treasury yield hit its highest in seven years.MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed. The index was headed for a 1% loss this week. Hong Kong’s Hang Seng rose 0.17% and Shanghai climbed 0.3%. Japan’s Nikkei rose 0.35%, South Korea’s KOSPI was up 0.3%. (Reuters)
18 May 2018, 11:22:00 AM IST
RCom share price doubles in 2 sessions on report of Ericsson settlement talks
Shares of debt-laden Reliance Communications Ltd (RCom) surged over 100% in last two sessions following a report that the company is in talks with Ericsson for an out-of-court settlement.RCom shares jumped as much as 24.77% in intraday trade to hit a high of Rs 20.65 after gaining nearly 57% on Thursday. Shares have now risen as much as 102% in last two sessions. So far this year, it has declined nearly 49%. Read more
18 May 2018, 10:55:00 AM IST
Market update: Sensex, Nifty trade lower
BSE Sensex traded lower by 93.97 points, or 0.27%, to 35,055.15, while the Nifty 50 fell 25.65 points, or 0.24%, to 10,657.05. Among the sectoral indices on BSE, FMCG, consumer durables, energy and oil and gas traded higher, while telecom, healthcare, capital goods and bankex declined. BSE MidCap and SmallCap fell 0.05% and 0.21%, respectively. Bajaj Auto, Hindustan Unilever, ITC and Yes Bank were top gainers, whereas Bharti Airtel, ICICI Bank, Wipro and Tata Motors were among the major losers.
18 May 2018, 10:52:00 AM IST
Bajaj Auto shares gain 2% ahead of earnings
Bajaj Auto Ltd shares rose 2.3% to Rs2,883.60 ahead of its March quarter earnings due later today. According to 27 Bloomberg analyst estimates, the company may post a net profit of Rs1047.40 crore, while net sales will be at Rs6,645.30 crore.
18 May 2018, 10:08:00 AM IST
Bajaj Finance shares rise 3% on Q4 results
Bajaj Finance Ltd shares rose 3.2% to Rs2,133.45 after the company reported 61% year-on-year rise in profit at Rs721 crore for March quarter.
18 May 2018, 10:05:00 AM IST
Central Bank of India shares down 3% as losses widen in Q4
Central Bank of India shares fell 3% to Rs63.70 after the bank reported a loss that widened to Rs2,113 crore in the fourth quarter ended March 31, 2018, against Rs592 crore in the year-ago quarter.
18 May 2018, 10:00:00 AM IST
Voltas shares dive 6% after Q4 results
Voltas Ltd shares fell 6% to Rs547.15 after the company reported 3.1% decline in its net profit for March quarter to Rs194.19 crore against Rs200.47 crore a year ago.
18 May 2018, 09:30:00 AM IST
RCom shares surge 20%
ADAG Group stocks gains. Reliance Communications Ltd surged 20%, Reliance Naval and Engineering Ltd rose 7%, Reliance Power Ltd 1.3%, Reliance Capital 1%, Reliance Infrastructure Ltd 1%.
18 May 2018, 09:26:00 AM IST
Sun Pharma shares rise 1% on new drug launch
Sun Pharmaceuticals Industries Ltd shares rose 1.5% to Rs487 after the company said its arm launched generic version for Daiichi Sankyo’s Welchol 625mg tablets in the US. Daiichi Sankyo has given the company exclusive rights to distribute these tablets, used to lower cholesterol, in the US.
18 May 2018, 09:23:00 AM IST
Sensex, Nifty trade lower
BSE Sensex traded lower by 94.10 points, or 0.27%, to 35,054.94, while the Nifty 50 fell 19.65 points, or 0.18%, to 10,663.05.
18 May 2018, 09:20:00 AM IST
Rupee opens lower against US dollar
The Indian rupee on Friday weakened marginally against the US dollar, tracking losses in Asian currencies. The rupee was trading at 67.78 against the US dollar, down 0.15% from its previous close of 67.70. The currency opened at 67.74 a dollar. The 10-year bond yield stood at 7.898%, up from its Thursday’s close of 7.881%. Bond yields and prices move in opposite directions.
18 May 2018, 09:15:00 AM IST
Asia stocks trade higher
Asian stocks edged up as investors kept a cautious watch on developments in US-China trade negotiations, with the dollar perched near a five-month peak after the benchmark US Treasury yield hit its highest in seven years.MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.1% higher. Japan’s Nikkei rose 0.25% and South Korea’s KOSPI was up 0.4%. Hong Kong’s Hang Seng rose 0.25% and Shanghai climbed 0.3%. (Reuters)