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Business News/ Market / Stock-market-news/  Closing bell: Sensex falls 70 points, Nifty ends below 10750, RIL, Infosys top losers
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Closing bell: Sensex falls 70 points, Nifty ends below 10750, RIL, Infosys top losers

BSE Sensex closed 70.85 points lower at 35,574.55, while the Nifty 50 ended 20.15 points down at 10,749.75. Here are the highlights from the markets

BSE Sensex and NSE’s Nifty 50 closed lower on Thursday. Photo: ReutersPremium
BSE Sensex and NSE’s Nifty 50 closed lower on Thursday. Photo: Reuters

OTHERS :Mumbai: Indian benchmark indices BSE Sensex and NSE’s Nifty 50 fell on Thursday dragged by losses in market heavyweights Infosys and Reliance Industries amid weak global cues. The Indian rupee weakened past the 69-mark against the US dollar, tracking losses across Asian peers. In global markets, European shares rose alongside US futures, while Asian stocks fell to a nine-month low as traders prepare for the implementation of fresh trade restrictions between US and China. Meanwhile, foreign investors unloaded shares worth Rs284.58 crore, while local investors purchased shares worth Rs611.01 crore on Wednesday, showed provisional data. Here are the highlights from the markets:

05 Jul 2018, 03:33:00 PM IST

Closing bell: Sensex, Nifty close lower

BSE Sensex closed lower by 70.85 points, or 0.20%, to 35,574.55, while the Nifty 50 fell 20.15 points, or 0.19%, to close at 10,749.75. BSE MidCap and SmallCap 0.71% and 0.40%, respectively.Fourteen out of 19 sectoral indices on BSE declined with consumer durables falling most 2.78% followed by realty, IT, teck, healthcare, energy and metal down over 1%. FMCG gained over 1% followed by finance, auto and bankex.Yes Bank, ITC, Asian Paints and Bajaj Auto were among the major gainers, whereas Infosys,Vedanta, Tata Steel and Reliance Industries were among the top losers.

05 Jul 2018, 03:08:00 PM IST

Sensex, Nifty trade lower

BSE Sensex traded lower by 121.97 points, or 0.34%, to 35,523.43, while the Nifty 50 fell 29.23 points, or 0.27%, to 10,740.60.

05 Jul 2018, 02:50:00 PM IST

Maruti Suzuki India shares hit near 3-month high

Shares of India’s largest automaker, Maruti Suzuki India Ltd, advanced as much as 1.56% to Rs9,365, their highest since 11 April. The stock breaks above a resistance at Rs9,249, the 14.6% Fibonacci projection level of the uptrend from 29 February 2016 low to 20 December 2017 high. As long as support at Rs9,249 holds, the stock may test resistance at Rs9,861 rupees, the 23.6% projection level. Trend intensity (TI) indicator rises to 15, indicating start of a new uptrend, MACD is also positive and above its signal line. Maruti stock was up 5.4% in the last one month as of previous close, outperforms broader NSE Index’s 1.33% gains.(Reuters)

05 Jul 2018, 02:34:00 PM IST

Liquor companies shares fall as Karnataka hikes tax

Shares of Indian liquor companies such as United Spirits Ltd, United Breweries Ltd, G M Breweries Ltd and Radico Khaitan Ltd declined after Karnataka government on Thursday hiked excise duty on liquor by 4% in its fiscal 2018-19 budget. United Spirits fell 5.6%, its biggest intraday percent fall since 6 March, while G M Breweries dived 5%, its biggest drop since 5 June. Radico Khaitan was down 4.09% and United Breweries lost 3.26%.As of last close, United Spirits stock down 9.1% this year, while Radico Khaitan, United breweries and G M Breweries stock had risen 37.6%, 9.2% and 21.1%, respectively.

05 Jul 2018, 02:23:00 PM IST

Rupee weakens further against US dollar

The Indian rupee fell further against the US dollar on Thursday, tracking losses across Asian peers as traders were cautious ahead of China and US tariff implementation and key data from US. At 2 pm, the rupee was trading at 68.82 against US dollar, down 0.11% from its previous close of 68.74. It opened at 68.75 and touched a low of 68.87. The US is scheduled to impose tariffs on $34 billion of Chinese goods on Friday. Traders are also awaiting Fed meeting minutes due to be released on Thursday, while nonfarm payrolls data will come on the following day.(Ravindra Sonavane/Mint)

05 Jul 2018, 01:30:00 PM IST

RIL shares erase early gains after AGM

Shares of Reliance Industries Ltd erased all morning gains and fell nearly 1% in afternoon trade. In the morning trade, the stock rose as much as 1.81% to Rs 1,008.50, but erased all the gains and fell as much as 1.21% to Rs 978 in intraday trade on BSE. At 1 pm, RIL stock was down 0.98% at Rs 980.30, while the Sensex was trading flat. Read more

05 Jul 2018, 12:50:00 PM IST

European stock markets rise at open

Europe’s stock markets rose slightly as trade got under way on Thursday, even after Asian equities fell ahead of a US deadline to impose tariffs on Chinese imports. The London FTSE 100 index of major blue-chip companies was up 0.1% at 7,578.97 points, while the Paris CAC stock exchange also rose slightly by 0.1% to 5,326.02 points. Frankfurt’s DAX 30 meanwhile rose 0.4% to 12,363.05 points.(AFP)

05 Jul 2018, 12:10:00 PM IST

Sensex, Nifty trade lower

BSE Sensex traded lower by 82.65 points, or 0.23%, to 35,562.75, while the Nifty 50 edged up 21.85 points, or 0.20%, to 10,748.05. BSE MidCap and SmallCap also fell 0.31% and 0.23%, respectively.Among the sectoral indices on BSE, IT and consumer durables fell over 2%, followed by metal, teck and realty down over 1%. Bankex, finance, FMCG and energy traded higher.

05 Jul 2018, 12:03:00 PM IST

Yes Bank shares rise

Yes Bank Ltd shares rose 2.76% to Rs344.75 after the bank said it has received approval from the Securities and Exchange Board of India to launch mutual fund business.

05 Jul 2018, 11:55:00 AM IST

Mukesh Ambani launches Reliance Jio GigaFiber broadband services

After creating a storm with its cheap mobile internet services, Reliance Jio today launched its fiber-based fixed line broadband services. At its annual general meeting (AGM), Reliance Industries Ltd (RIL) chairman Mukesh Ambani announced the launch of Jio GigaFiber service.“We will now extend fiber connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously across 1,100 cities to offer the most advanced fiber-based broadband connectivity solutions,” Mukesh Ambani said at RIL AGM.

05 Jul 2018, 11:40:00 AM IST

Oil prices fall as Donald Trump urges Opec to cut prices

Oil prices fell on Thursday after U.S. President Donald Trump sent a strident tweet demanding that OPEC cut prices for crude. The escalating trade row between Washington and Beijing, which triggered another sell-off in Asian stocks on Thursday, was also felt in oil markets, with China warning it could introduce duties on U.S. crude imports at an as yet unspecified date.Brent crude futures were at $77.68 per barrel at 0532 GMT, down 56 cents, or 0.7 percent, from their last close. US West Texas Intermediate (WTI) crude futures were down 45 cents, or 0.6 percent, at $73.69 per barrel.(Reuters)

05 Jul 2018, 11:20:00 AM IST

RIL AGM LIVE: Mukesh Ambani unveils Reliance JioGigaFiber

Speaking at the 41st RIL AGM, Mukesh Ambani unveils Reliance Jio’s JioGigaFiber, the fiber-to-the-home wired broadband service. Read more

05 Jul 2018, 11:09:00 AM IST

Reliance Brands buys minority stake in Future101

Reliance Industries Ltd said that its unit Reliance Brands Ltd has purchased 12.5% equity stake in Future101 Design Pvt Ltd for Rs9.50 crore. Future101, incorporated in July, 2013 is engaged in manufacturing, distribution and sale of luxury apparels, etc. in India. “We expect growth in this sector and value creation from this investment,” said RIL in a statement. Future101 reported an annual turnover of Rs22.18 crore, Rs20.85 crore and Rs17.11 crore in FY 2017-18, FY 2016-17 and FY 2015-16, respectively.RIL shares were up 1.76% at Rs1,007.56 per share.

05 Jul 2018, 10:30:00 AM IST

Future Lifestyle Fashions shares rise 4%

Future Lifestyle Fashions Ltd shares rose 4% to Rs 412.90 after the company on Wednesday said it has reached a conditional agreement to buy 29.9% stake in online fashion retailer Koovs Plc for ₹140 crore, subject to regulatory and procedural approvals.

05 Jul 2018, 09:50:00 AM IST

Tata Motors shares down 4% on JLR’s Breixt woes

Shares of Tata Motors Ltd fell 4% to Rs257.25 after Jaguar Land Rover warned that a hard Brexit would cost the company £1.2 billion a year in trade tariffs, reports Financial Times.

05 Jul 2018, 09:30:00 AM IST

RIL shares gain ahead of annual meeting

Shares of Reliance Industries Ltd rose 1.1% to Rs1,000.95 ahead of its annual general meeting due later today after 11am. At the RIL AGM, investors will stay closely tuned for announcements on its telecom business (Reliance Jio Infocomm Ltd), if any. Timelines/statements pertaining to the FTTH (fibre to the home) and enterprise launch will be crucial to watch out for.

05 Jul 2018, 09:25:00 AM IST

Sensex, Nifty trade flat

BSE Sensex inched down by 7.50 points, or 0.02%, to 35,637.90, while the Nifty 50 edged up 3.55 points, or 0.03%, to 10,773.45.

05 Jul 2018, 09:20:00 AM IST

Rupee reverses gains, trades lower against US dollar

The Indian rupee fell further against the US dollar on Thursday morning, tracking losses across Asian peers as traders were cautious ahead of China and US tariff implementation and key data from US. The government’s announcement on Wednesday to increase in minimum support prices for crops also dampened sentiment. At 9.15am, the rupee was trading at 68.83 against US dollar, down 0.12% from its previous close of 68.74. It opened at 68.75 and touched a low of 68.84.(Ravindra N. Sonavane/Mint)

05 Jul 2018, 08:43:00 AM IST

Opening bell: Cues to look out for before trading today

US stocks fell as tech shares dropped sharply, while lingering concerns over a trade dispute between the US and other major economies rattled investors. Asian markets were little changed during early trade, as investors searched for direction ahead of a deadline when tariffs from the US and China are due to be implemented.■ Ensuring frictionless transition within the group will be his top-most priority, Housing Development Finance Corp. Ltd (HDFC) chairman Deepak Parekh said in his annual letter to shareholders. Succession planning requires 18-24 months of preparation, Parekh said, hinting at the impending retirement of HDFC Bank’s chief executive officer (CEO) Aditya Puri. The boards of respective companies will look at both internal and external candidates to fill positions, he said.■ The Supreme Court suggested Jaiprakash Associates Ltd (JAL), the parent of debt-ridden Jaypee Infratech Ltd (JIL), submit Rs650 crore to prove it is bona fide before the court, after it failed to deposit Rs1,000 crore as directed on 16 May.■ Reliance Industries Ltd, India’s second-largest company by market value, has struck at least 12 deals over 12 months with an estimated tab of about ₹28,900 crore ($4.21 billion), according to calculations by Jefferies Group LLC and Bloomberg.■ The Narendra Modi government approved a Rs200 per quintal hike in minimum support prices (MSP) for paddy, the main crop planted by farmers in the rain-fed kharif season.■ In what could be seen as a transformation rare in businesses, especially one triggered by a rival, Bharti Airtel Ltd is steadily morphing into a technology-led company from being India’s largest telecom operator, a top company executive said.■ The acquisition of Fortis Healthcare Ltd has become a two-horse race with Malaysia’s IHH Healthcare Bhd and TPG-backed Manipal Health Enterprises Pvt. Ltd placing binding offers for the controversy-hit hospital operator.■ Reserve Bank of India tightened rules on banks’ statutory auditors saying it reserved the right to not approve appointments of such auditors for a specified period if their audit quality was not found satisfactory.

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