Markets wrap: Sensex closes 175 points lower, Nifty at 10,192, ahead of Fed meet
7 min read.Updated: 13 Dec 2017, 04:06 PM ISTLivemint
BSE Sensex declined by 175 points at close, while the Nifty50 ended below 10,200 mark ahead of the Federal Reserve meet. Here are the latest updates and developments from the markets
Mumbai: BSE Sensex and the NSE Nifty50 closed lower on Wednesday after recovery in the early afternoon. Sensex tried to shake off macro blues by changing course and jumping 143 points. Consumer durables and healthcare stoked buying interest. Dismal macro data—released yesterday after market hours—led to selling pressure as November CPI inflation hit a 15-month high of 4.88% and October industrial output growth dropped to a 3-month low of 2.2%. Investors are tracking Federal Reserve’s latest policy meeting outcome later today. The 30-share index was up by 142.87 points—0.43%—at 33,370.86 at 12.04pm. The 50-share Nifty hit 10,288.65, up 48.50 points, or 0.47%. Kotak Bank is in the lead, gaining 1.94%, followed by Hindustan Unilever. Foreign portfolio investors (FPIs) net bought shares worth Rs843.20 crore yesterday, while domestic institutional investors (DIIs) sold equities to the tune of Rs853.67 crore. Asian markets were mixed. US stocks rose yesterday amid growing optimism that Republican lawmakers would be able to revamp the corporate tax system. Wall Street also looked up to the Federal Reserve policy announcement.Here are the latest updates and developments from the markets:
13 Dec 2017, 03:46:00 PM IST
Sensex falls 174.95 points to end at 33,053.04; Nifty down 47.20 points to 10,192.95.
13 Dec 2017, 03:38:00 PM IST
Orchid Pharma shares rise over 4% on USFDA nod for schizophrenia drug
Orchid Pharma today said it has received approval from the US health regulator for Aripiprazole Orally-Disintegrating tablets, used in treatment of schizophrenia and bipolar disorder. In a filing to BSE, the company said it “has received ANDA (abbreviated new drug application) approval from USFDA (United States Food and Drug Administration) for Aripiprazole Orally-Disintegrating tablets USP, 10 mg and 15 mg.” The tablets are atypical antipsychotic, indicated in the treatment of symptoms related to psychotic conditions such as schizophrenia and bipolar disorder (manic depression), it added. Shares of the company were trading 4.87% up at Rs18.30 on BSE. (PTI)
13 Dec 2017, 03:15:00 PM IST
BSE Sensex trades lower by 147.99 points, or 0.45%, to 33,080.00, while the NSE Nifty50 falls 42.05 points, or 0.41%, to 10,198.10.
13 Dec 2017, 02:17:00 PM IST
BSE Sensex trades lower by 122.40 points, or 0.37%, to 33,105.59, while the NSE Nifty50 falls 30.90 points, or 0.30%, to 10,209.25.
13 Dec 2017, 01:17:00 PM IST
BSE Sensex trades higher by 142.38 points, or 0.43%, to 33,370.37, while the NSE Nifty50 rises 49.05 points, or 0.48%, to 10,289.20.
13 Dec 2017, 12:57:00 PM IST
NSE to auction investment limits for Rs7,300-crore corporate bonds
NSE will auction investment limits for overseas investors for purchase of corporate bonds worth over Rs7,300 crore on Thursday. The auction will be conducted on NSE’s e-bid platform from 3.30to 5.30pm after the close of market hours, the exchange said in a circular. The auction quota gives overseas investors the right to invest in debt up to the stipulated limit. (PTI)
13 Dec 2017, 12:51:00 PM IST
Unitech shares dive over 16% as SC stays NCLT order
Unitech’s shares today slipped more than 16% after the Supreme Court stayed NCLT order allowing the Centre to take over the management of the embattled firm. The Supreme Court today stayed the 8 December order of the company law tribunal NCLT in this respect. Following the development, Unitech stock fell to a low of Rs6.43 on the BSE, down 16.38% over its previous closing price. On the NSE, a similar movement was seen where the stock opened at Rs7.55, but fell to a low of Rs6.40, down 16.33%. (PTI)
13 Dec 2017, 12:15:00 PM IST
BSE Sensex trades higher by 147.23 points, or 0.44%, to 33,375.22, while the NSE Nifty50 rises 51.60 points, or 0.50%, to 10,291.75.
13 Dec 2017, 12:05:00 PM IST
PVR in expansion overdrive, eyes 21 4DX screens by 2019-end
Leading multiplex operator PVR will increase the count of its 4DX screens to 21 by investing around $11 million (Rs70 crore) in the next two years, said a top company official. The Gurgaon-based company on Wednesday signed a deal with South Korea’s CJ 4DPLEX at Cine Asia 2017 to add 16 more screens as it is ramping up offering in the premium segment in metro markets. PVR Ltd’s shares were trading 0.51% higher at Rs1309.85 at 11.57am on the BSE.(PTI)
13 Dec 2017, 11:55:00 AM IST
LIC trims stake in Mastek by 3.09%
State-owned Life Insurance Corporation (LIC) has reduced its stake in IT firm Mastek by 3.09% after selling 7.30 lakh shares in the open market. As per a BSE filing, LIC, which had 6.14% stake in Mastek earlier, brought down the shareholding in the company to 3.05%. LIC sold the stake between 18 December 2014 and 11 December 2017. Mastek had reported over two-fold increase in consolidated net profit to Rs17.5 crore for the quarter ended 30 September 2017. Its total income grew 59% to Rs204.1 crore for the said period. Shares of Mastek were trading at Rs402.60 apiece, up 4.03%, on BSE. (PTI)
13 Dec 2017, 11:23:00 PM IST
BSE Sensex trades higher by 125.41 points, or 0.38%, to 33,353.40, while the NSE Nifty50 rises 48.65 points, or 0.48%, to 10,288.80.
13 Dec 2017, 11:18:00 AM IST
Unitech shares fall 6% after Supreme Court stays NCLT order
Asian stocks were mixed Wednesday following overnight gains on Wall Street as investors looked ahead to a likely US interest rate hike. The Shanghai Composite Index was unchanged at 3,279.43 while Tokyo’s Nikkei 225 lost 0.3% to 22,805.80. Hong Kong’s Hang Seng gained 0.5% to 28,925.73 and Seoul’s Kospi advanced 0.4% to 2,471.74. Sydney’s S&P-ASX 200 was unchanged at 6,015.00. Benchmarks in New Zealand and Singapore declined while Taiwan and other Southeast Asian bourses were higher. (AP)
13 Dec 2017, 10:58:00 AM IST
US markets mixed ahead of Fed meet
In the US, banks and other financial stocks led the gainers as the Fed met to discuss interest rates. Technology stocks declined the most. Energy stocks also fell as crude oil prices closed lower. Bitcoin futures fell on their second day of trading. The Standard & Poor’s 500 index rose 0.2% to 2,664.11. The Dow Jones industrial average gained 0.5% to 24,504.80. The Nasdaq composite lost 0.2% to 6,862.32.Also read | Surge in retail inflation in November brings RBI’s fears to realityThe US central bank is expected to raise rates Wednesday for the third time this year, which allows banks to charge more to lend money. Even though inflation has remained low, the Fed has seen a path to gradually raise rates as the economy and labor market have strengthened. An increase of 0.25 percent in short-term interest rates “is as good as a done deal” based on options markets pricing, Mizuho Bank said in a report. Investors will be listening for any hints the Fed could pick up its pace on rate hikes next year.(AP)
13 Dec 2017, 10:49:00 AM IST
Crude prices advance in US, London
Benchmark US crude rose 41 cents to $57.55 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 85 cents on Tuesday to $57.14. Brent crude, used to price international oils, advanced 61 cents to $63.95 in London. It plunged $1.35 the previous session. (AP)
13 Dec 2017, 10:43:00 AM IST
Dollar declines to 113.45 Japanese Yen, Euro strengthens
The dollar declined to 113.45 yen from Tuesday’s 113.54 yen. The euro strengthened to $1.1749 from $1.1739. (AP)
13 Dec 2017, 10:35:00 AM IST
Dairy companies’ shares surge up to 15%
Dairy companies shares surged. Prabhat Dairy Ltd rose 15%, Parag Milk Foods 7.11%, Kwality Ltd 5%, Umang Dairies Ltd 8.4% and Vadilal Industries Ltd was up 1.3%.
13 Dec 2017, 10:20:00 AM IST
JB Chemicals & Pharma shares rise after USFDA approves ANDA
JB Chemicals & Pharmaceuticals Ltd rose 2.6% to Rs306 after the company said the US drug regulator. US Food and Drug Administration (USFDA), approved its supplementary abbreviated new drug application or ANDA for atenolol tablets.
13 Dec 2017, 10:05:00 AM IST
Century Textile shares fall 4%
Century Textile Ltd fell 4% to Rs1,328 after Grasim Industries said it will pay Rs600 crore to Century Textiles for rights to control its filament yarn business.
13 Dec 2017, 09:48:00 AM IST
Sensex, Nifty trade marginally lower
BSE Sensex trades lower by 32.23 points, or 0.10%, to 33,195.76, while the Nifty 50 falls 10.75 points, or 0.10%, to 10,229.40.
13 Dec 2017, 09:40:00 AM IST
Dish TV shares up 2.37%, Bharti Airtel shares rise 1.6%
Dish TV India Ltd rose 2.37% to Rs82.10, while Bharti Airtel Ltd rose 1.6% to Rs532.35. Bharti Airtel and another group entity will sell a combined 20% in its DTH arm, Bharti Telemedia Ltd, to private equity firm Warburg Pincus for $350 million as India’s largest telecom company seeks to cut debt. The transaction will see Bharti Airtel sell 15% in Bharti Telemedia and another Bharti entity sell a 5% stake to an affiliate of the private equity firm, the telecom company said in a statement on Tuesday.
13 Dec 2017, 09:35:00 AM IST
Kalpataru Power shares rise nearly 4% on new orders
Kalpataru Power Transmission Ltd rose 3.8% to Rs455.65 after the company said it got new orders worth Rs875 crore.
13 Dec 2017, 09:30:00 AM IST
10-year bond yield rises to fresh 17-month high
The 10-year bond yield surged further for the fifth session to hit a fresh 17-month high after sharper-than-expected acceleration of CPI inflation reduced calls for further monetary easing in the near term. The 10-year bond yield was at 7.255%, a level last seen on 21 July 2016, compared to its previous close of 7.185%. Bond yields and prices move in opposite directions.
13 Dec 2017, 09:25:00 AM IST
Rupee opens marginally lower against US dollar
The Indian rupee opened marginally lower against the US dollar. The home currency was trading at 64.56 a dollar, down 0.25% from its Tuesday’s close of 64.40. It opened at 64.52 a dollar.
13 Dec 2017, 09:20:00 AM IST
Sensex, Nifty trade lower
BSE Sensex trades lower by 59.52 points, or 0.18%, to 33,168.47, while the Nifty 50 falls 21.90 points, or 0.21%, to 10,218.25.