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Market Wrap: Sensex, Nifty close lower dragged by PSU bank, metal, pharma stocks

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

BSE Sensex closed lower by 236.10 points at 33,774.66, while the Nifty 50 fell 73.90 points to close at 10,378.40. Here are the latest updates from markets

MUMBAI : Mumbai: BSE Sensex on Friday fell over 236 points to end at a nearly two-month low of 33,774.66 on sustained selling in PSU, metal and banking counters amid the massive PNB fraud weighing on investors’ sentiment. Moreover, renewed concerns that a rebound in global crude oil prices will have an adverse impact on fiscal deficit too kept participants cautious. Meanwhile, foreign investors sold shares worth Rs1,065.99 crore, while domestic investors made purchases to the tune of Rs1,127.78 crore on Friday, provisional data showed. Globally, in the Asian region, Japan’s Nikkei rose 1.33 per cent, while markets in Hong Kong and China remained shut today on account of a public holiday. European markets were higher in their early deals. (PTI) Here are the latest updates from the markets:

19 Feb 2018, 03:33:00 PM IST

Closing bell

BSE Sensex closed lower by 236.10 points, or 0.69%, to 33,774.66, while the Nifty 50 fell 73.90 points, or 0.71%, to close at 10,378.40.

19 Feb 2018, 02:57:00 PM IST

Market update

BSE Sensex traded lower by 276.72 points, or 0.81%, to 33,734.04, while the Nifty 50 fell 85.65 points, or 0.82%, to 10,366.65. BSE MidCap was down 1.30%, while SmallCap declined 1.22%. All the sectoral indices traded lower with metal, auto and industrials falling most.

19 Feb 2018, 02:55:00 PM IST

Mark Mobius announces plans for EM fund, joins India-based Equanimity

Investment guru Mark Mobius said he is starting a fund management firm which will invest in emerging and frontier market companies focused on ESG ideas.

19 Feb 2018, 02:53:00 PM IST

Pennar Industries gets orders worth Rs152 crore

Pennar Industries Ltd said it has received orders worth Rs152 crore across its business units. Shares rose 1.23% to Rs61.80

19 Feb 2018, 02:50:00 PM IST

B L Kashyap and Sons secures Rs605 crore order

B L Kashyap and Sons Ltd said it has secured an order worth Rs605 crore. Shares traded 0.10% lower at Rs48.70.

19 Feb 2018, 02:13:00 PM IST

European shares trade higher

Europe’s main stock markets edged higher at the start of trading on Monday, in subdued deals amid a long holiday weekend in the US. In initial deals, London’s benchmark FTSE 100 index added 0.1% to 7,304.62 points. In the eurozone, Frankfurt’s DAX 30 gained almost 0.4% to 12,495.07 points and the Paris CAC 40 advanced 0.3% to 5,295.33. US financial markets remain closed on Monday for the President’s Day holiday.

19 Feb 2018, 02:10:00 PM IST

Shree Cement commissions new cement grinding unit

Shree Cement Ltd said it has commissioned new cement grinding unit having capacity of 2.0 MTPA at Aurangabad in Bihar. Shares traded 0.02% down at Rs16,966.05.

19 Feb 2018, 12:57:00 PM IST

Market update

BSE Sensex traded lower by 400.73 points, or 1.18%, to 33,610.03, while the Nifty 50 fell 119 points, or 1.14%, to 10,333.30.

19 Feb 2018, 12:30:00 PM IST

Market update

BSE Sensex traded lower by 180.96 points, or 0.53%, to 33,829.80, while the Nifty 50 fell 60.20 points, or 0.58%, to 10,392.10. The Nifty PSU Bank was down 5.13% and the Nifty Bank traded 0.90% lower.

19 Feb 2018, 12:27:00 PM IST

Indian banks erase over $10 billion in market cap since PNB fraud

PSU banks continue to bleed after more lenders report exposure to the $1.8 billion PNB fraud, involving billionaire jeweller Nirav Modi

19 Feb 2018, 12:20:00 PM IST

Bhushan Steel gets bids from Tata Steel, JSW, employees

Bhushan Steel Ltd said the company’s resolution team has received resolution plans from Tata Steel Ltd, JSW Living Pvt. Ltd and employees of Bhushan Steel. Shares traded 19.93% up at Rs53.85

19 Feb 2018, 12:15:00 PM IST

Dr. Reddy’s Labs unit named defendant in US suit

Dr. Reddy’s Laboratories said its chairman, COO and a unit of the company have been named as defendants in an amended complaint filed in the US. Shares traded 0.69% lower at Rs2,197.55.

19 Feb 2018, 11:33:00 AM IST

Gitanjali Gems CFO, compliance officer resign

Gitanjali Gems Ltd said its company secretary and compliance officer, Pankhuri Warange, and its CFO Chandrakant Karkare resigned from their respective positions at the company. Shares were down 10% at Rs33.80.

19 Feb 2018, 11:30:00 AM IST

LT unit gets Rs1,680 crore order

Larsen and Toubro Ltd said the water and effluent treatment business of unit L&T Construction has secured an EPC orders worth Rs1,680 crore from Pune Municipal Corporation. Shares traded 1.13% lower at Rs1313

19 Feb 2018, 11:25:00 AM IST

Natco Pharma shares up as USFDA completes inspection

Natco Pharma Ltd shares rose 3% to Rs820 after the company said USFDA completes inspection of its Mekaguda API unit with zero observation.

19 Feb 2018, 11:23:00 AM IST

Binani Industries shares trade higher

Binani Industries Ltd shares rose 3.1% to Rs 110 after Dalmia Bharat Cement Ltd and UltraTech Cement Ltd have submitted bits for its arm Binani Cement

19 Feb 2018, 10:32:00 AM IST

Market update

BSE Sensex traded lower by 179.68 points, or 0.53%, to 33,831.08, while the Nifty 50 fell 59.15 points, or 0.57%, to 10,393.15. BSE MidCap was down 0.71% and SmallCap fell 0.75%. All the sectoral indices on BSE trade lower with capital goods, metal and consumer durables falling most.

19 Feb 2018, 10:30:00 AM IST

Gitanjali Gems shares fall 10%

Gitanjali Gems Ltd shares hit 10% lower circuit. Punjab National Bank (PNB) has declared Gitanjali Group a fraud entity after it discovered that group companies, along with firms helmed by jeweller Nirav Modi, were involved in fraudulent transactions worth Rs11,4000 crore through letters of undertaking (LoUs) issued by the bank.

19 Feb 2018, 10:27:00 AM IST

RPG Life Sciences shares gain after block deal

RPG Life Sciences Ltd shares rose 3.6% to Rs473.75 after huge block deal. Around 2.45 billion shares of the company changed hands in a block deal, Bloomberg reported. However details of the buyers and sellers were not known

19 Feb 2018, 10:25:00 AM IST

GVK Power and Infra shares up 5%

GVK Power and Infrastructure Ltd shares gained 5% to Rs18.65 after Prime Minister Narendra Modi on Sunday laid the foundation stone of the Navi Mumbai International Airport site in Panvel, nearly 21 years after it was mooted. The first phase the Rs16,700-crore project is expected to be completed by 2019

19 Feb 2018, 09:40:00 AM IST

PSU bank stocks trade lower

PSU bank stocks fell further. Bank of Baroda fell 3.6%, Syndicate Bank 3%, Indian Bank 2.7%, State Bank of India 2.6%, IDBI Bank 1.9%, Bank of India 1.8%, Punjab National Bank 1.7%, Union Bank of India 1.3%, Canara Bank 1.2%, Allahabad Bank 5% and Uco Bank was down 10%.

19 Feb 2018, 09:37:00 AM IST

Tata Steel shares fall 4%

Tata Steel Ltd fell 4% to Rs660, while Bhushan Steel Ltd hit 20% upper circuit. According to news reports,Tata Steel emerges as the top bidder for Bhushan Steel.

19 Feb 2018, 09:35:00 AM IST

City Union Bank shares decline nearly 5%

City Union Bank Ltd fell 4.8% to Rs164.65 after the bank said on Sunday that “cyber criminals” had hacked its systems and transferred nearly $2 million through three unauthorised remittances to lenders overseas via the SWIFT financial platform.

19 Feb 2018, 09:33:00 AM IST

The anatomy of the PNB fraud

Clearly, the control system in Punjab National Bank, India’s second largest government-owned bank by assets, has gone to the dogs.

19 Feb 2018, 09:30:00 AM IST

Market update

BSE Sensex traded lower by 113.86 points, or 0.33%, to 33,896.90, while the Nifty 50 fell 24.30 points, or 0.23%, to 10,428.

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