Market Wrap: Sensex, Nifty close lower for fourth session, BSE Metal falls over 3%
BSE Sensex closed lower by 300.16 points at 33,746.78, while the Nifty 50 fell 99.50 points to close at 10,358.85. Here are the latest updates from markets
Last Modified: Mon, Mar 05 2018. 05 08 PM IST
- 3.34 pm ISTClosing bell
- 3.11 pm ISTDevi Sea Foods files for IPO
- 2.30 pm ISTMarket update
- 2.28 pm ISTRupee trades higher against US dollar
- 2.25 pm ISTAurobindo Pharma says USFDA issues Form 483 with nine observations
- 1.10 pm ISTMarket update
- 1.05 pm ISTSanghi Industries gets shareholders nod to raise fund
- 11.50 am ISTMetal stocks trade lower
- 11.45 am ISTServices PMI contracts in February as inflation hits demand
- 11.43 am ISTHDFC Bank seeks to raise $2.5 billion via share sale
- 10.32 am ISTMarket update
- 10.30 am ISTThomas Cook India shares up over 5%
- 10.27 am ISTMotherson Sumi Systems shares decline on block deal
- 10.25 am ISTTVS Motor shares rise on February sales
- 9.50 am ISTAurobindo Pharma shares fall after USFDA issues Form 483
- 9.47 am ISTForties Healthcare shares trade lower
- 9.45 am ISTLaurus Labs shares gain following completion of USFDA inspection
- 9.43 am ISTThe Indian economy is gathering momentum
- 9.40 am ISTRupee opens higher against US dollar
- 9.35 am ISTMarket update
- Mumbai: Benchmark indices closed lower for the fourth straight session on Monday following losses in Asia equities amid worries about impact of US President Donald Trump’s proposed import tariffs on steel and aluminium. BSE Sensex closed 300 points lower, while NSE’s Nifty 50 ended 100 points down. US President Donald Trump sparking fresh fear among investors about a potential trade war after he has proposed tariffs of 25% on imported steel and 10% on aluminium for “a long period of time”. Here are the highlight from the markets:
- 3.34 pm IST Closing bellBSE Sensex closed lower by 300.16 points, or 0.88%, to 33,746.78, while the Nifty 50 fell 99.50 points, or 0.95%, to close at 10,358.85. BSE MidCap and SmallCap declined 0.95 and 1.09%, respectively. All the sectoral indices on BSE, except IT, Teck and consumer durables, ended lower with metal shedding most at 3.30% followed by energy 2.16% and basis materials 2.14%. Sun Pharma, TCS, M&M and SBI were among the top gainers, whereas Tata Motors, Tata Steel, Bajaj Auto and RIL were among the major losers.
- 2.28 pm IST Rupee trades higher against US dollarThe Indian rupee was trading marginally higher against US dollar, tracking gains in its Asian peers. The rupee was trading at 65.11, up 0.09% from its previous close of 65.17. The home currency opened at 65.05 and touched a high and a low of 64.93 and 65.14, respectively. Yields on 10-year government bonds were at 7.75% compared to Wednesday’s close of 7.741%. Bond yields and prices move in opposite directions.
- 2.25 pm IST Aurobindo Pharma says USFDA issues Form 483 with nine observationsAurobindo Pharma Ltd said in a BSE filing that the USFDA has issued a Form 483 with nine observations after inspecting the company’s Unit 4 of Pashamylaram facility in Hyderabad. The inspection was conducted between 12-20 February. The company added that none of the observations are related to data integrity or repetitive in nature. The company further said it is in the midst of providing a comprehensive response to the observations and would be replying to the USFDA within 15 working days. Aurobindo Pharma shares traded at Rs601.65, down 3.60%.
- 1.10 pm IST Market updateBSE Sensex traded lower by 380.13 points, or 1.12%, to 33,666.81, while the Nifty 50 fell 132.20 points, or 1.26%, to 10,326.15. BSE MidCap was down 1.18%, while SmallCap declined 1.37%. All the sectoral indices on BSE traded lower. BSE Metal index extended losses and was down 3.67%.
- 11.50 am IST Metal stocks trade lowerMetal stock traded lower after US President Donald Trump has proposed to impose a import tariff of 25% on steel and 10% on aluminium. The BSE Metal fell 3.32%. Jindal Steel 6.61%, SAIL 5.50%, NMDC 5.50%, Hindalco 4.64%, JSW Steel 4.58%, Tata Steel 3.12%.
- 11.45 am IST Services PMI contracts in February as inflation hits demandActivity in India’s service industries contracted in February for the first time since November as rising price pressures led to a decline in new business orders, a private survey showed on Monday. Services activity suffered for most of last year following a ban of high value currency notes in November 2016. The 1 July implementation of a national sales tax was another setback, weakening demand. The Nikkei/IHS Markit Services Purchasing Managers’ Index (PMI) fell to a six-month low of 47.8 in February, compared with January’s 51.7. The 50-mark separates growth from contraction. (Reuters)
- 11.43 am IST HDFC Bank seeks to raise $2.5 billion via share salePrivate sector lender HDFC Bank Ltd is looking to launch its equity share sale of up to $2.5 billion (around Rs15,000 crore) in a fortnight, while HDFC Asset Management Co. Ltd (HDFC AMC) will be filing its draft initial public offer (IPO) papers, three people aware of the developments told Mint. HDFC Bank shares traded 0.68% lower at Rs1867.20.
- 10.32 am IST Market updateBSE Sensex traded lower by 315.93 points, or 0.93%, to 33,731.71, while the Nifty 50 fell 101.55 points, or 0.97%, to 10,356.80. BSE MidCap and SmallCap were down 0.75% and 0.79%, respectively. All the sectoral indices on BSE traded lower with metal, oil and gas, auto, and energy shedding most.
- 9.45 am IST Laurus Labs shares gain following completion of USFDA inspectionLaurus Labs Ltd shares rose 2% to Rs542 after the company said that the USFDA completed inspection of its Unit 2 with zero observations under Form 483, and received maiden approval from the drug regulator for TDF tablets used in the treatment of HIV-1 infection.
- 9.43 am IST The Indian economy is gathering momentumThe numbers for the third quarter show that the Indian economy is well on the recovery track, after the twin shocks from demonetisation and the messy transition to the new goods and services tax (GST)
The Indian economy is gathering momentum https://t.co/HoebXa5gQ2— Livemint (@livemint) March 4, 2018
- 9.40 am IST Rupee opens higher against US dollarThe Indian rupee strengthened against the US dollar, tracking gains in its Asian peers. The home currency opened at 65.05 and touched a high and a low of 65.03 and 65.08, respectively. The rupee was trading at 65.06, up 0.20% from its previous close of 65.17. Yields on 10-year government bonds were at 7.740% compared to Wednesday’s close of 7.741%. Bond yields and prices move in opposite directions.