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Business News/ Market / Stock-market-news/  Closing bell: Sensex falls 73 points, Nifty ends below 10,800, over global trade tensions
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Closing bell: Sensex falls 73 points, Nifty ends below 10,800, over global trade tensions

BSE Sensex closed 73.88 points lower at 35,548.26, while the Nifty 50 ended 17.85 points down at 10,799.85. Here are the highlights from the markets

BSE Sensex and NSE’s Nifty 50 closed lower on Monday. Photo: MintPremium
BSE Sensex and NSE’s Nifty 50 closed lower on Monday. Photo: Mint

OTHERS :Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 declined on Monday following weak cues from global equity markets. Stocks in Europe and Asia fell as global trade war fears erupted again after US President Donald Trump escalated trade tensions by announcing tariffs on additional Chinese imports, prompting Beijing to immediately respond in kind. Bond yields fell 7 basis points after RBI eased foreign investment rules and as crude oil prices declined. The rupee erased losses and was trading marginally higher against the US dollar. Here are the highlights from the markets:

18 Jun 2018, 03:35:00 PM IST

Closing bell

BSE Sensex closed lower by 73.88 points, or 0.21%, to 35,548.26, while the Nifty 50 fell 17.85 points, or 0.17%, to close at 10,799.85. BSE MidCap and SmallCap 0.18% and 0.77%, respectively.Among the sectoral indices on BSE, oil and gas, energy, auto and bankex led the gains, while metal, telecom, IT and teck declined most. ICICI Bank, Tata Motors, Bajaj Auto and Maruti were among the top gainers, whereas Vedanta, Kotak Bank, Bharti Airtel and Coal India were among the major losers.

18 Jun 2018, 03:15:00 PM IST

Market update: Sensex, Nifty extend losses

BSE Sensex traded lower by 85.39 points, or 0.24%, to 35,536.75, while the Nifty 50 fell 19.55 points, or 0.18%, to 10,798.15.

18 Jun 2018, 02:36:00 PM IST

ICICI Bank CEO Chanda Kochhar’s fate to be decided today at board meet

The board of ICICI Bank Ltd is meeting on Monday to decide on the future of chief executive officer Chanda Kochhar, reported Bloomberg, citing people familiar with the matter. They will debate options including asking Kochhar to go on leave until an internal investigation into allegations raised against her by a whistle blower is completed, the people said. ICICI Bank shares were trading 3.72% up at Rs292.80.

18 Jun 2018, 02:05:00 PM IST

Indiamart planning Rs600 crore IPO, to file DRHP next month

Indiamart.com, one of the largest online listing platforms for small and medium businesses in India, will soon file draft papers for its initial share sale, two people aware of the development said.The proposed initial public offering (IPO) could see the company raise as much as ₹600 crore, said the first of the two people cited above, on the condition of anonymity, as he is not authorized to speak to reporters. Read more

18 Jun 2018, 01:20:00 PM IST

Market update: Sensex, Nifty trade lower

BSE Sensex traded lower by 50.58 points, or 0.14%, to 35,571.56, while the Nifty 50 edged down 10.75 points, or 0.10%, to 10,806.95. BSE MidCap and SmallCap declined 0.22% and 0.68%, respectively.Among the sectoral indices on BSE, oil and gas gained most at 1.47%, auto 0.52% and energy 0.47%. Metal fell most at 2.12% followed by IT 0.63%, healthcare 0.55% and telecom 0.55%.ICICI Bank, Tata Motors, Bajaj Auto and NTPC were among the top gainers, whereas Vedanta, Tata Steel, Coal India and Kotak Bank were major losers. 

18 Jun 2018, 01:15:00 PM IST

Lupin ties up with Japan’s Nichi-lko

Lupin said it has entered into an agreement with Japan’s Nichi-lko for the distribution, promotion and sale of Lupin’s recently-filed biosimilar Etanercept in Japan. the product will be launched by Nichi-lko after receiving approval from the Pharmaceuticals and Medical Devices Agency. Lupin shares were trading 1.94% lower at Rs892.75.

18 Jun 2018, 12:35:00 PM IST

Tata Steel shares down over 3%

Shares of Tata Steel Ltd fell as much as 3.26% to Rs547.45, their lowest since 24 May. The stock posted its biggest intraday percentage loss since 1 June. The stock has fallen 14.4% this year up to Friday’s close.Top shareholders of Thyssenkrupp AG are sceptical about the plan to combine European steel operations with Tata Steel, and have discussed voting against the proposal at a board meeting as early as next week, according to a Bloomberg report. Read more(Reuters)

18 Jun 2018, 12:27:00 PM IST

Oil prices fall over 2% ahead of Opec meeting

Oil prices fell near $64 a barrel as Saudi Arabia and Russia prepared for a clash with allied crude producers over whether to lift output and as China and the US exchanged threats over trade. Futures in New York dropped as much as 2.3%, on course for the lowest close since 9 April after a 2.7% decline Friday.Iran says Venezuela and Iraq will join in blocking a proposal to increase production that’s backed by Saudi Arabia and Russia when Opec and its allies meet in Vienna this week. China said it would impose tariffs on a variety of U.S. goods, including crude and gasoline, in response to President Donald Trump’s $50 billion levy on Chinese imports. Crude has dropped more than 10% from its high in May amid signs Saudi Arabia and Russia are seeking to lift output curbs that have eliminated a global surplus and boosted prices.(Bloomberg)

18 Jun 2018, 12:01:00 PM IST

Dr Reddy’s shares down over 1%

Shares of Dr. Reddy’s Laboratories Ltd fell 1.57% to Rs2,314.10 after a US court restrains the company from selling generic variant of Suboxone.(Ravindra Sonavane/Mint)

18 Jun 2018, 11:45:00 AM IST

Rupee, bond prices rise as RBI eases FPI norms

Yields on the 10-year government bond fell 7 basis points on Monday after the Reserve Bank of India (RBI) eased foreign investment rules and as crude oil prices declined. Meanwhile, the rupee erased all morning losses and was trading marginally higher against the US dollar.At 10.45am, the 10-year bond yield stood at 7.816%, from its Friday’s close of 7.889%. Bond yields and prices move in opposite directions. The rupee was trading at 67.97 against US dollar, up 0.07% from its previous close of 68.02. The rupee opened weaker and hit a three-week low of 68.21 in early trade.(Ravindra Sonavane/Mint)

18 Jun 2018, 11:07:00 AM IST

Market update

BSE Sensex traded higher by 27.15 points, or 0.08%, to 35,649.29, while the Nifty 50 edged up 4.50 points, or 0.04%, to 10,822.20.

18 Jun 2018, 11:05:00 AM IST

Trapped in mid-cap stocks? What investors should do

Small and mid cap relative valuations suggest optimism may be priced in but not the uncertainties, despite the recent corrections

18 Jun 2018, 10:43:00 AM IST

Vedanta shares fall 3%

Shares of Vedanta Ltd fell 3.2% to Rs231.20 after its arm halts operations at Zambia mine after a worker was killed.

18 Jun 2018, 10:12:00 AM IST

ICICI Bank shares gain 2% on management changes buzz

Shares of ICICI Bank Ltd rose 2% to Rs288.10. The Economic Times reported that ICICI Bank group is discussing reshuffling its top management and may appoint CEO of its life insurance venture Sandeep Bakshi as ICICI Bank’s interim CEO.

18 Jun 2018, 09:45:00 AM IST

Rupee hits three-week low against US dollar

The Indian rupee weakened to a three-week low against the US dollar on Monday after trade deficit widened to $14.62 billion in May. The rupee opened at 68.21 a dollar—a level last seen on 25 May. The 10-year bond yield stood at 7.832%, from its Friday’s close of 7.945%. The rupee was trading at 68.13 against US dollar, down 0.21% from its previous close of 68.02. Bond yield fell after the Reserve Bank of India eased some rules to provide foreign funds more flexibility to invest in the securities. The 10-year bond yield stood at 7.832%, from its Friday’s close of 7.945%.(Ravindra Sonavane/Mint)

18 Jun 2018, 09:36:00 AM IST

OMC, aviation stocks gain as oil prices fall

Shares of oil marketing companies and aviation were trading higher after crude oil prices fall. Hindustan Petroleum Corp. Ltd rose 3%, Indian Oil Corp. Ltd 2.2%, Bharat Petroleum Corp. Ltd 1.6%. Among aviation stock, Jet Airways India Ltd gained 2.7%, SpiceJet Ltd 2%, InterGlobe Aviation Ltd 1%.

18 Jun 2018, 09:33:00 AM IST

TCS shares rise over 1% after share buyback announcement

Shares of Tata Consultancy Services Ltd rose 1.5% to Rs1,869. The company on Friday said its board had approved a share buyback worth Rs16,000 crore at a premium of more than 17% from the previous close. At its board meeting, TCS said it will buy back up to 76.19 million shares, aggregating up to 1.99% of the paid-up equity capital, via a tender at Rs2,100 per equity share. Read more

18 Jun 2018, 09:22:00 AM IST

Market update: Sensex, Nifty open flat

BSE Sensex traded higher by 20.21 points, or 0.06%, to 35,642.35, while the Nifty 50 edged down 4.05 points, or 0.04%, to 10,813.65.

18 Jun 2018, 09:07:00 AM IST

Stocks in focus today

■ JSW Energy and Adani Power have submitted expressions of interest (EoIs) for bankrupt Monnet Power, reports Mint, citing two people aware of the development.■ Lupin Ltd expects single digit sales growth in 2018-19 due to sluggish US business that’s likely to impact overall global business of the company, said managing director Nilesh Gupta.■ Indiamart.com, one of the largest online listing platforms for small and medium businesses in India, will soon file draft papers for a Rs600 crore initial public offering, reports Mint.■ Markets regulator Sebi plans to revise the regulations for share buy-backs wherein more clarity would be provided on various aspects, including on the requirement to make public announcements, according to a senior official.■ The telecom department is likely to approve on Monday the merger of Vodafone India and Idea Cellular that will create the country’s largest mobile service operator with proposed name of Vodafone Idea Ltd.■ Shares of Dr Reddy’s Laboratories Ltd, India’s second largest drug maker, soared over 3% on Friday, after the pharma firm said USFDA had given it the go-ahead to launch generic versions a drug used to treat adults with opioid addiction.■ State-owned construction firm NBCC (India) Ltd plans to acquire two public sector companies in the construction sector with a total investment of up to Rs500 crore.(Harsha Jethmalani/Mint)

18 Jun 2018, 09:05:00 AM IST

Opening bell: Cues to look out for before trading today

US stocks end lower; Asian markets see a negative openingUS stocks slashed losses to close well off the lows of the day on Friday as investor worries about a US-China trade war decreased. Asian markets slipped on Monday as investors digested the escalation in trade tensions between the US and China after both countries announced tariffs last week.NITI Aayog meet: Modi vows steps to take India’s growth rate to double digitsPrime Minister Narendra Modi vowed to accelerate India’s GDP growth to more than 10% and laid down a blueprint to make development more inclusive and correct economic imbalances. Modi said the world expects India to almost double its GDP to $5 trillion soon.(Harsha Jethmalani/Mint)

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