Active Stocks
Tue Mar 19 2024 14:11:06
  1. Tata Consultancy Services share price
  2. 3,990.00 -3.73%
  1. Tata Steel share price
  2. 149.50 -0.07%
  1. Bharti Airtel share price
  2. 1,232.20 0.58%
  1. Power Grid Corporation Of India share price
  2. 260.30 -1.77%
  1. ITC share price
  2. 409.50 -1.89%
Business News/ Market / Stock-market-news/  Markets Wrap: Sensex closes 306 points lower, Nifty settles at 10,430
BackBack

Markets Wrap: Sensex closes 306 points lower, Nifty settles at 10,430

BSE Sensex closed 306.33 points lower at 34,344.91, while the Nifty 50 ended 106.35 points down at 10,430.35. Here are the highlights from the markets

BSE Sensex and NSE Nifty closed lower on Wednesday. Photo: MintPremium
BSE Sensex and NSE Nifty closed lower on Wednesday. Photo: Mint

MUMBAI :Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 fell nearly 1% on Wednesday dragged by losses in metal and oil marketing companies amid continued foreign fund outflows. Moreover, shares in Asia and Europe traded mixed as investors were cautious about developments in the US-China trade relations and doubts about US-North Korea summit. Meanwhile, foreign investors sold shares worth a net Rs1,651.63 crore, while domestic investors bought shares worth Rs1,496.83 crore on Tuesday, provisional data showed. Here are the latest updates from the markets:

23 May 2018, 03:35:00 PM IST

Closing bell

BSE Sensex closed lower by 306.33 points, or 0.88%, to 34,344.91, while the Nifty 50 fell 106.35 points, or 1.01%, to close at 10,430.35. All the sectoral indices on BSE, except capital goods and consumer durables, ended lower with metal, oil and gas, basic materials and energy fell up to 3.93%.BSE MidCap and SmallCap declined 0.24% and 0.47%, respectively. SBI, L&T, NTPC and Tata Motors were top gainers, whereas Tata Steel, ONGC, Dr. Reddy’s Labs and IndusInd Bank were among the top losers.

23 May 2018, 03:15:00 PM IST

Sensex, Nifty down 1%

BSE Sensex traded lower by 320.23 points, or 0.92%, to 34,331.01, while the Nifty 50 fell 111 points, or 1.05%, to 10,425.70.

23 May 2018, 02:50:00 PM IST

Market update: Sensex down 200 points

BSE Sensex traded lower by 197.01 points, or 0.57%, to 34,454.23, while the Nifty 50 fell 81.50 points, or 0.77%, to 10,455.20.

23 May 2018, 02:47:00 PM IST

Rupee trades near 17-month low against US dollar

The Indian rupee on Wednesday weakened to a near 17-month low against the US dollar following continued outflows by foreign investors from the local equity and bond markets amid surging crude oil prices.At 2pm, the home currency was trading at 68.34 against the US dollar, down 0.42% from its previous close of 68.04. The currency opened at 68.14 a dollar and touched a low of 68.36 a dollar—a level last seen on 11 January 2017.Since start of April, foreign investors have sold $1.63 billion and $4.22 billion in local equity and debt market, respectively. Traders are awaiting release of the minutes of the Federal Reserve’s early-May policy meeting later Wednesday.The 10-year bond yield stood at 7.836% from its Tuesday’s close of 7.812%. Bond yields and prices move in opposite directions.

23 May 2018, 02:25:00 PM IST

Madras HC stays construction at Vedanta copper plant in Tamil Nadu

Vedanta Ltd said that, in a PIL filed against the company, the Madras High Court stated that the application for renewal of environment clearance for Copper Smelter plant 2 project shall be decided by the competent authority on or before 23 September.In the interim, the High Court has ordered the company to cease construction and all other activities onsite for proposed Copper Smelter plant 2 project with immediate effect. Vedanta shares fell 5.19% to Rs255.60.

23 May 2018, 02:12:00 PM IST

Motherson Sumi Systems Q4 profit rises 7%

Motherson Sumi Systems Ltd’s consolidated net profit rose 7.32% to Rs757.50 crore for the fourth quarter ended 31 March. Total revenue from operations during the quarter stood at Rs15,407.83 crore from Rs11,473.05 crore in the year-ago period. Shares declined 3.87% to Rs322.

23 May 2018, 01:57:00 PM IST

Market update: Sensex, Nifty extend losses

BSE Sensex traded lower by 148.52 points, or 0.43%, to 34,502.72, while the Nifty 50 fell 56.55 points, or 0.54%, to 10,480.15.

23 May 2018, 01:53:00 PM IST

Bajaj Electricals net profit declines in Q4

Bajaj Electricals Ltd reported a net profit of Rs7.31 crore in the fourth quarter of 2018 compared to Rs38.42 crore last year. Total income from operations stood at Rs1,606 crore in the quarter compared to Rs1,278 crore a year ago. Shares were up 3.06% to Rs623.30, but declined from day’s high of Rs641.50.

23 May 2018, 12:55:00 PM IST

Market update: Sensex, Nifty trade marginally lower

BSE Sensex traded lower by 18.85 points, or 0.05%, to 34,632.39, while the Nifty 50 fell 22.35 points, or 0.21%, to 10,514.35. BSE MidCap and SmallCap rose 0.30% and 0.49%, respectively. Among the sectoral indices on BSE, capital goods, IT, industrials and power gained up to 1%, while oil and gas, metal, energy and basic materials declined up to 2.27%. On NSE, Nifty PSU Bank was up 4.58% led by SBI. SBI, ICICI Bank, Tata Motors and NTPC were top gainers, whereas Tata Steel, Dr. Reddy’s Labs, ONGC and IndusInd Bank were among the major losers.

23 May 2018, 12:50:00 PM IST

Gold prices fall ahead of Fed minutes

Gold prices slipped on Wednesday, pressured by a firm dollar ahead of the release of the minutes from the Federal Reserve’s last policy meeting. Spot gold was 0.1 percent lower at $1,289.71 per ounce as of 0645 GMT. U.S. gold futures for June delivery were down 0.2 percent at $1,289.40 per ounce. (Reuters)

23 May 2018, 12:45:00 PM IST

Oil prices slip on possible Opec cut

Oil prices eased as the possibility of higher OPEC output weighing on the market, although geopolitical risks are expected to keep prices near multi-year highs. Brent futures fell 37 cents, or nearly 0.5%, to $79.20 a barrel by 12.06pm, after climbing 35 cents on Tuesday. Last week, the global benchmark hit $80.50 a barrel, the highest since November 2014. US WTI crude futures eased 21 cents, or nearly 0.3%, to $71.99 a barrel, having climbed on Tuesday to $72.83, also the highest since November 2014. (Reuters)

23 May 2018, 12:10:00 PM IST

Minda Industries shares jump 11% as profit more than doubles in Q4

Minda Industries Ltd shares surged 11.49% to Rs1,256.40. The company reported a consolidated net profit Rs135 crore in the March 2018 quarter compared to a profit Rs56.29 crore a year ago Revenue from operations stood at Rs1,371 crore in the fourth quarter, compared to Rs964 crore last year.

23 May 2018, 11:30:00 AM IST

Glenmark Pharma, Sun Pharma get USFDA nods

Glenmark Pharmaceuticals Ltd said its US unit received final approval by the USFDA for Colesevelam Hydrochloride tablets, the generic version of Welchol tablets of Daiichi Sankyo Inc. Shares were trading 0.97% up at Rs516.60.Sun Pharmaceutical Industries Ltd said its unit has received approval from the USFDA for YONSA, used for treatment of a form of prostate cancer. Sun Pharma shares were trading 0.61% up at Rs455.75.

23 May 2018, 10:55:00 AM IST

OMCs trade lower

Shares of oil marketing companies trading lower. Hindustan Petroleum Corp. Ltd fell 5.4%, Bharat Petroleum Corp. Ltd 5%, Indian Oil Corp. Ltd 3.7%.

23 May 2018, 10:53:00 AM IST

Vedanta shares down 4% over protest at Tamil Nadu site

Vedanta Ltd shares fell 4% to Rs260.50. According to a Reuters report, at least nine people were killed in India’s Tamil Nadu state on Tuesday when police fired at violent protesters calling for the closure of a copper smelter run by Vedanta Resources.

23 May 2018, 10:47:00 AM IST

Jet Airways shares trade lower ahead of Q4 earnings

Jet Airways India Ltd shares fell 0.7% to Rs417 ahead of its March quarter earnings. According to 3 Bloomberg analysts’ poll, the company may post a profit of Rs20.57 crore while net sales will be at Rs6411.90 crore.

23 May 2018, 10:15:00 AM IST

Market update

BSE Sensex traded lower by 105.33 points, or 0.30%, to 34,545.91, while the Nifty 50 fell 45.75 points, or 0.43%, to 10,490.95.

23 May 2018, 10:12:00 AM IST

Dr Reddy’s shares fall 2% after Q4 results

Dr Reddy’s Laboratories Ltd shares fell 2.2% to Rs1,970.05 after the company posted a 3% drop in net profit in March quarter to Rs302.20 crore from Rs312.50 crore a year ago. Read more

23 May 2018, 10:03:00 AM IST

Cipla shares rise 5% on Q4 net profit

Cipla Ltd shares rose 5.3% to Rs 552.30 after the company reported a profit of Rs178.61 crore in March quarter against loss of Rs61.79 crore a year ago. Read more

23 May 2018, 09:30:00 AM IST

SBI shares rise over 4% after Q4 results

Shares of State Bank of India rose 4.4% to Rs265.40. SBI reported a net loss of Rs7,718 crore for the quarter ended 31 March, the second highest quarterly loss reported by an Indian bank. It had reported a quarterly loss of Rs3,442 crore a year ago. Read more

23 May 2018, 09:27:00 AM IST

Tata Motors shares rise ahead of Q4 earnings

Tata Motors Ltd shares rose 1.1% to Rs 311.25 ahead of its March quarter earnings due later on Wednesday. According to 20 Bloomberg analyst poll, the company may report consolidated net profit of Rs 3748 crore while net sales will be at Rs 88160 crore. On standalone basis, net profit will be at Rs 370.50 crore while net sales will be at Rs 18842.80 crore.

23 May 2018, 09:23:00 AM IST

Market update: Sensex, Nifty trade marginally lower

BSE Sensex traded lower by 24.82 points, or 0.07%, to 34,626.42, while the Nifty 50 rose 13.35 points, or 0.13%, to 10,523.35.

23 May 2018, 09:20:00 AM IST

Rupee trades lower against US dollar

The Indian rupee on Wednesday weakened against the US dollar, tracking losses in Asian currencies. The home currency was trading at 68.28 against the US dollar, down 0.33% from its previous close of 68.04. The currency opened at 68.14 a dollar and touched a low of 68.29 a dollar. The 10-year bond yield stood at 7.827% from its Tuesday’s close of 7.812%. Bond yields and prices move in opposite directions.

23 May 2018, 09:17:00 AM IST

Asian shares trade lower

Asian shares were mostly weak on Wednesday with investors cautious after US President Donald Trump tempered optimism over progress made so far in trade talks between the world’s two largest economic powers.MSCI’s index of Asia-Pacific shares outside Japan was down 0.2%, while Japan’s Nikkei lost as much as 1.4% to hit a 1-1/2-week low and the Shanghai Composite Index retreated 0.6%. On Wall Street, the S&P 500 shed 0.31% overnight, losing steam after hitting a two-month high. (Reuters)

Download the App to get 14 days of unlimited access to Mint Premium absolutely free!

Recommended For You
Switch to the Mint app for fast and personalized news - Get App