India to grow 7.6% in calendar year 2018: Moody"s https://t.co/6QXnR5b811— Livemint (@livemint) February 28, 2018
Market Wrap: Sensex closes 162 points lower, Nifty below 10,500 ahead of GDP data
BSE Sensex closed lower by 162.35 points at 34,184.04, while the Nifty 50 fell 61.45 points to close at 10,492.85. Here are the latest updates from the markets
Last Modified: Wed, Feb 28 2018. 05 26 PM IST
- 3.33 pm ISTClosing bell
- 3.20 pm ISTInfosys Finacle partners with Moneythor
- 3.10 pm ISTApril-January fiscal deficit hit 113.7% of full-year target
- 2.33 pm ISTGallantt Metal board approves acquisition of GL Steel
- 2.30 pm ISTZydus Cadila gets USFDA nod to market Dexmedetomidine Hydrochloride Injection
- 2.27 pm ISTEuropean shares trade lower
- 2.25 pm ISTRupee trades at three-month low against US dollar
- 1.45 pm ISTMarket update
- 1.43 pm ISTFirms line up IPOs worth Rs12,000 crore in March
- 1.37 pm ISTGranules India unit gets EIR from USFDA
- 12.40 pm ISTAsian shares trade lower
- 12.38 pm ISTDhabriya Polywood shares up as unit gets new order
- 12.35 pm ISTSteel Strips Wheel shares rise on new order
- 12.33 pm ISTVideocon Industries gets IRDA nod to sell stake in insurance unit
- 12.30 pm ISTDilip Buildcon shares gain on receipt of new order
- 11.50 am ISTMarket update
- 11.47 am ISTFebruary factory growth slows to 4-month low: PMI
- 11.13 am ISTIndia to grow 7.6% in calendar year 2018: Moody’s
- 11.10 am ISTDLF shares rise as unit wins bid for land
- 11.07 am ISTBinani Industries shares gain 5%
- 10.25 am ISTMarket update
- 10.23 am ISTMoody’s upgrades IDBI Bank outlook to positive
- 10.20 am ISTDalmia Bhart wins bid for Binani Cement
- 9.40 am ISTBanking stocks extend losses
- 9.37 am ISTCipla shares gain following Roche Pharma tie up
- 9.35 am ISTPNB shares fall over 5%
- 9.33 am ISTPNB fraud effect: Fear over public sector banks
- 9.30 am ISTRupee hits three-month low against US dollar
- 9.28 am ISTMarket update
- Mumbai: Benchmark indices closed lower for the second straight session on Wednesday following losses in global equity markets after hawkish comments from US Federal Reserve chair Jerome Powell. Shares of private banks fell after the finance ministry on Tuesday gave a 15-day deadline to state-run banks to take pre-emptive action, identify and address operational and technological risks. Moreover, the government reported a fiscal deficit of Rs6.77 trillion for April-January, 113.7% of the target originally set for the fiscal year 2017-18. Traders are also cautious ahead of GDP data due to be released after 5.30pm. Here are the latest updates from the markets:
- 3.33 pm IST Closing bellBSE Sensex closed lower by 162.35 points, or 0.47%, to 34,184.04, while the Nifty 50 fell 61.45 points, or 0.58%, to close at 10,492.85. BSE MidCap was down 0.23%, whereas SmallCap outperformed the benchmark and rose 0.21%. Among the sectoral indices, IT, teck, realty and consumer durables posted gains, while metal, bankex, finance and capital goods shed most. Infosys, Asian Paints, SBI were top gainers, while Hindustan Unilever, ICICI Bank and Sun Pharma were among the top losers.
- 3.20 pm IST Infosys Finacle partners with MoneythorInfosys Ltd said unit Infosys Finacle partnered with Moneythor, a Singapore-based digital banking provider, to offer services that will enable financial institutions deliver personalized recommendations and insights to customers on numerous digital channels. Infosys shares rose 1.98% to Rs1171.
- 3.10 pm IST April-January fiscal deficit hit 113.7% of full-year targetIndia reported on Wednesday a fiscal deficit of Rs6.77 trillion ($103.72 billion) for April-January or 113.7% of the target originally set for the fiscal year that ends in March. Net tax receipts in the first ten months of 2017-18 fiscal year were Rs9.7 trillion, government data showed. (Reuters)
- 2.27 pm IST European shares trade lowerEurope’s main stock markets fell at the open, dented by fresh losses overnight on Wall Street and earlier in Asia. In initial deals, London’s benchmark FTSE 100 index dropped 0.5% to 7,247.52 points. In the eurozone, Frankfurt’s DAX 30 lost 0.5% to 12,427.46 points and the Paris CAC 40 shed 0.4% to 5,321.50.
- 2.25 pm IST Rupee trades at three-month low against US dollarThe Indian rupee and other Asian currencies weakened against the US dollar on Wednesday following hawkish comments from US Federal Reserve chair Jerome Powell. The rupee was trading at 65.29, down 0.52% from its previous close of 64.80. The rupee weakened past 65-mark to hit a three-month low. It opened at 65.10 and touched a low of 65.31 a dollar, a level last seen on 16 November 2017. Yields on 10-year government bonds were at 7.68% compared to Tuesday’s close of 7.67%.
- 1.43 pm IST Firms line up IPOs worth Rs12,000 crore in MarchAfter a dull start to the year, activity in the initial public offering (IPO) market in India is expected to pick up pace with companies expected to raise more than Rs12,000 crore in the month of March. The first two months of this year witnessed a total IPO fund-raising of Rs3,559 crore from six offerings, with February accounting for just two, data from primary market tracker Prime Database shows.
- 12.40 pm IST Asian shares trade lowerAsian shares extended losses as weak Chinese Japanese manufacturing data revived worries about global growth amid anxiety over faster rate rises in the United States. MSCI’s broadest index of Asia-Pacific slipped more than 1%. Japan’s Nikkei stumbled 1% on a slightly firmer yen. China’s CSI300 skidded 0.6%, while Shanghai’s SSE Composite fell 0.8% and Hong Kong’s Hang Seng index declined more than 1%. (Reuters)
- 12.33 pm IST Videocon Industries gets IRDA nod to sell stake in insurance unitVideocon Industries Ltd said IRDA has approved the company’s proposed sale of 51.32% stake in Liberty Videocon General Insurance Co. Ltd to Diamond Deal Trade Ltd and Enam Securities Pvt. Ltd. Shares declined 3.58% to Rs14.80.
- 11.50 am IST Market updateBSE Sensex traded lower by 159.26 points, or 0.46%, to 34,187.13, while the Nifty 50 fell 54.10 points, or 0.51%, to 10,500.20. Fifteen out of nineteen sectoral indices on BSE traded lower led by bankex, which was down 1.14%, metal 0.84% and finance 0.77%. IT, healthcare, realty and teck rose 0.54%, 0.36%, 0.37% and 0.34%, respectively.
- 11.47 am IST February factory growth slows to 4-month low: PMIGrowth in factory activity slowed to a four-month low in February as new orders eased and weighed on output after manufacturers raised prices at the fastest pace in a year, a business survey showed on Wednesday. The Nikkei Manufacturing Purchasing Managers’ Index (PMI), compiled by IHS Markit, fell to 52.1 in February from January’s 52.4 and was below the 52.8 expected in a Reuters poll. But it held above the 50 mark that separates growth from contraction for the seventh consecutive month.
- 11.13 am IST India to grow 7.6% in calendar year 2018: Moody’sMoody’s Investors Service Wednesday estimated that India will grow 7.6% in calendar year 2018 and 7.5% in 2019, amid signs of economic recovery from impact of demonetisation and goods and services tax (GST).
- 10.25 am IST Market updateBSE Sensex traded lower by 162.37 points, or 0.47%, to 34,184.02, while the Nifty 50 fell 61.20 points, or 0.58%, to 10,493.10. BSE MidCap was down 0.40%, while SmallCap declined 0.29%. Among the sectoral indices on BSE, healthcare, IT, Teck and realty traded higher, whereas metal, bankex, finance and capital goods shed most.
- 10.23 am IST Moody’s upgrades IDBI Bank outlook to positiveIDBI Bank Ltd shares traded 1.22% lower at Rs72.65. Moody’s Investors Service on Tuesday affirmed the long-term local and foreign currency bank deposit rating of IDBI Bank Ltd at B1 and changed the outlook to positive from stable.
- 10.20 am IST Dalmia Bhart wins bid for Binani CementDalmia Bharat Cement Ltd on Tuesday emerged the winner for troubled Binani Cement Ltd, beating India’s largest cement maker UltraTech Cement Ltd which had put in a nearly identical bid. Shares traded 0.57% down at Rs2,665.
- 9.35 am IST PNB shares fall over 5%Punhab National Bank shares declined 5.13% to Rs93.30 a day after the bank said the alleged fraud committed by jewellers Nirav Modi and Mehul Choksi may be around $2 billion, over $204 million more than previously estimated. On Tuesday, PNB shares closed 12.11% lower at Rs98.35. During the day, it tumbled 14.11% to Rs96.10—its 52-week low.
- 9.33 am IST PNB fraud effect: Fear over public sector banksPublic sector banks will now have to look back on every loan default above Rs50 crore and check whether the defaulter was genuinely stressed or just fooling them.
- 9.30 am IST Rupee hits three-month low against US dollarThe Indian rupee and other Asian currencies have weakened against the US dollar following hawkish comments from US Federal Reserve chair Jerome Powell. The rupee weakened past 65-mark to hit a three-month low. It opened at 65.10 and touched a low of 65.14 a dollar, a level last seen on 16 November 2017. The rupee was trading at 65.10, down 0.35% from its previous close of 64.80. Yields on 10-year government bonds were at 7.69% compared to Tuesday’s close of 7.67%
First Published: Wed, Feb 28 2018. 09 29 AM IST