Sensex ends at 6-month low, Asian Paints shares fall 5%2 min read . Updated: 23 Oct 2018, 04:39 PM IST Staff Writer
Sensex and Nifty were under pressure today with Asian Paints share prices slumping 5%
OTHERS : Indian shares ended lower today, sinking further in the last hour of trade, as oil marketing companies dragged following a rating downgrade by brokerage Nomura, but macro concerns played on overall sentiment. The benchmark Sensex closed down 0.84% at 33,847.23, its lowest close since April 9. The broader Nifty ended 0.96% lower at 10,146.80, its lowest close since April 4. Asian Paints Ltd ended 5.2% weaker after its second-quarter results failed to please investors.
HPCL, BPCL, Indian Oil shares fall after Nomura downgrade
Oil marketing companies fell with Bharat Petroleum Corp Ltd, Hindustan Petroleum Corp Ltd and Indian Oil Corp down about three percent each. Nomura downgraded all three stocks to ‘neutral’ from ‘buy’ citing concerns over confidence on marketing reforms.
India can reap benefits of weaker rupee, says Mark Mobius
Mark Mobius, founding partner of Mobius Capital Partners, said India could reap the benefits of weaker rupee. “With rupee (being) weaker, exports become more competitive,” Mobius said at Morningstar Investor Conference. “Also, I believe it is about time the government takes advantage of the Chinese trade war,” he said, adding, there was a need to fast track the approval process for manufacturing in India.
Lakshmi Machine Works shares fall 5%
Lakshmi Machine Works shares fell 5.5% to Rs 5800 after the company said it will buyback its 2.66 lakh shares at Rs 6,000 each at a discount of 2.2% to current market price.
Lakshmi Vilas Bank shares surge
Opening bell: Cues to look out for before trading today
The Dow Jones Industrial Average and S&P 500 closed lower on Monday as shares of big banks fell broadly. Worries about a deluge of corporate earnings reports coming this week and rising geopolitical tensions also dampened investor sentiment.Asian markets fell in morning trade on Tuesdayafter the Dow Jones Industrial Average declined more than 100 points overnight on Wall Street.SpiceJet seeks more time to pay for aircraft lease: SpiceJet Ltd has sought a three-month extension from a leasing company for making payments on aircraft leases as a delay in delivery of 737 Max planes by Boeing Co. has caused liquidity issues at the budget airline, said ratings agency Crisil Ltd. Reliance, BP to jointly set up 2,000 petrol pumps in India:British oil major BP Plc and Reliance Industries Ltd (RIL) are planning to jointly set up as many as 2,000 petrol pumps in India over the next three years, reports Mint.GSK Pharma Q2 profit down 23% to Rs101 crore: GlaxoSmithKline (GSK)Pharmaceuticals reported 22.67% fall in standalone net profit to Rs100.77 crore for the quarter ended 30 September 2018.PNB Housing Finance raises Rs1,775 crore through commercial papers: PNB Housing Finance said it has raised Rs1,775 crore by issuing commercial papers (CPs) to mutual funds and banks during this month.Hindustan Zinc Q2 profit dives nearly 30% to Rs1,815 crore: Hindustan Zinc Ltd reported a 29.8% fall in second-quarter profit, dented by higher expenses.IL&FS appoints advisers for debt resolution plan: The board at India’s Infrastructure Leasing and Financial Services Ltd (IL&FS) said it has appointed two advisers for assisting them in its debt resolution exercise.Affle Holdings gets Sebi’s go ahead for India unit IPO: Singapore-based Affle Holdings has received capital markets regulator Sebi’s go ahead to launch the initial share-sale offering of its Indian unit, merchant banking sources said.Earnings corner: Ambuja Cement, Bajaj Finance, HCL Tech, HDFC Life, RBL Bank and TVS Motor are among the companies that will be announcing their September quarter earnings on Tuesday.