Closing Bell: Nifty ends September series below 11,000, Sensex down over 200 points; banks drag

It’s a negative close for Nifty in September series and it has ended below 11,000-mark as well. The Sensex concluded the session over 200 points lower.

There was selling across sectors, with maximum cuts visible among banks, automobile, infrastructure, metals and pharmaceuticals. Weakness in the midcaps space also weighed on benchmarks as Nifty Midcap ended over 2 percent lower.

At the close of market hours, the Sensex closed down 218.1 points or 0.6% at 36324.1, while the Nifty was lower by 76.3 points or 0.6% at 10977.5. The market breadth is negative as 767 shares advanced, against a decline of 1,793 shares, while 167 shares were unchanged.

Shares of Tata Consultancy Services (TCS), Infosys, and Bharti Infratel were the top gainers, while Yes Bank, Maruti, and Indiabulls Housing have lost the most.

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Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-september-series-below-11000-sensex-down-over-200-points-banks-drag-2990711.html

Indian rupee trades flat around 72.60 per dollar

The Indian rupee erased all its morning gains and trading flat at around 72.60 per dollar.

It slipped more than 30 paise intraday from day's high of 72.38 per dollar.

On Wednesday, the rupee ended with a gain of 8 paise at 72.61 against Tuesday' close 72.69 per dollar.

The Indian rupee has become Asia's worst performer losing over 13 percent of its value in 2018 breaching new highs against the dollar on rising crude oil prices and falling emerging market currencies and there seems to be no end to it, said Shreyansh N Mehta, Manager Equity Research at AUM Capital Market

Though, the Indian currency recovered some lost ground on suspected dollar sales by the Reserve Bank of India but there are still dark clouds in the sky as fears of escalating trade war could further hurt the global market sentiments and growth.

Not to forget, the massive liquidation by the foreign investors and political uncertainty around 2019 general elections in India will further put pressure on rupee. So, as of now, rupee will maintain this downward trend approaching fast towards 74–75 levels and will create a threat on the economy as a whole, he added.

Rupee consolidated in the range of 72.60 and 73 for the third successive sessions but, today, is expected to open higher against the US dollar after the government announced to raise import tariff on some non-essential items. Government decided to raise import tariffs on 19 “non-essential items,” marking a further tilt toward protectionism as it tries to reduce its widening current account deficit and tackle a sharp slide in the rupee, said Motilal Oswal.

The total value of imports of the 19 items in last fiscal year ended March was about USD 11.84 billion. Today, USD-INR pair is expected to quote in the range of 72.40 and 73, it added.

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Source: https://www.moneycontrol.com/news/business/markets/indian-rupee-trades-flat-around-72-60-per-dollar-2990761.html

Sensex, Nifty turn negative ahead of F&O expiry; Nifty Midcap falls over 1%

Among sectors, banks are trading in the red, while IT and pharmaceuticals are trading higher.
Rupee Update: Indian rupee erased all morning gains and trading marginally lower at around 72.63 per dollar.

Shares are trading marginally higher after seeing a negative move in the first few minutes of trade. The Nifty is trading around 11,050, while the Sensex is trading flat.

The Sensex is up 39.87 points or 0.11% at 36582.14, while the Nifty is higher by 4.00 points or 0.04% at 11057.80. The market breadth is narrow as 923 shares advanced, against a decline of 697 shares, while 68 shares were unchanged.

Asian Paints, Vedanta, Titan and UltraTech Cement were the top gainers, while Yes Bank, HDFC, Indiabulls Housing and Bajaj Finance have lost the most.

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Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-sensex-nifty-turn-negative-ahead-of-f-nifty-midcap-falls-over-1-2990711.html

Opening Bell (27 Sep 2018)

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Closing Bell: Sensex ends over 100 pts lower, Nifty holds 11,050; IT, FMCG take a big hit

After a day of relief rally on Tuesday (September 25, 2018), equity benchmarks have closed on a lower note on Wednesday. However, the key, psychological mark of 11,000 has been held by the Nifty. Investors could also be cautious ahead of US Federal Reserve’s decision on interest rates, which will be declared later in the day.

There was major selling seen among information technology names. The likes of TCS, Infosys and Wipro, among others dragged the index lower and managed to weigh on frontline indices as well. Automobiles, consumer and PSU banks were the other big losers. The Nifty Midcap index closed with marginal gains.

All eyes are also on the outcome from the FOMC meeting, which will be announced later in the day. “The outcome of the US Fed meeting on Wednesday is expected to result in another hike in benchmark interest rates, raising the federal funds rate by 25 basis points from its current range of 1.75-2 percent to 2-2.25 percent,” Edelweiss Investment Research has said in a note.

At the close of market hours, the Sensex closed 109.79 points or 0.30% lower at 36542.27, while the Nifty was down 13.70 points or 0.12% at 11053.80. The market breadth is negative as 1,266 shares advanced, against a decline of 1,330 shares, while 197 shares were unchanged.

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Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-over-100-pts-lower-nifty-holds-11050-it-fmcg-take-a-big-hit-2986801.html

Nifty IT underperforms dragged by KPIT Tech; SBI sheds 2%, metals shine

185 stocks have hit new 52-week low including names like 8K Miles Software Services, Dish TV, Finolex Cables, Jet Airways, MEP Infra, Rolta India, Suzlon Energy and Vakrangee among others.

The Indian stock market this Wednesday afternoon continues to remain in the red with the Nifty50 is up down 37 points and is trading at 11,030 while the Sensex is trading lower by 177 point at 36,475.

At 14:40 hrs, the IT index is down close to 2 percent dragged by KPIT Tech, HCL Tech, Tata Elxsi, Oracle Financial Services and Wipro.

The auto index is down 1 percent dragged by Motherson Sumi Systems and Tata Motors which fell 3 percent each, Bosch down 2 percent followed by TVS Motor, Bajaj Auto and Maruti Suzuki.

The FMCG index is down 1.5 percent dragged by ITC which shed 2 percent while Hindustan Unilever is down 1 percent. Tata Global Beverage, Britannia Industries, Godrej Industries and Dabur India are the other losers.

Nifty PSU banks is down 1.5 percent with loses from State Bank of India which shed 2 percent while Andhra Bank is down 1.5 percent.

Metals stocks are however shining led by Hindalco Industries, Jindal Steel & Power, JSW Steel, NALCO, NMDC, Vedanta and Tata Steel.

Nifty realty is the outperforming sector, up 2 percent led by Unitech which jumped 7 percent followed by Godrej Properties and HDIL which added 4 percent each. The other gainers include Oberoi Realty and Indiabulls Real Estate.

The top NSE gainers include names like Indiabulls Housing Finance which jumped 7 percent while UPL, Vedanta and GAIL India are the other gainers.

The top NSE losers are Bharti Infratel, Tata Motors, Wipro, ITC and HCL Tech.

The most active stocks are DHFL, YES Bank, Indiabulls Housing Finance, HDFC Bank and Vedanta.

Biocon, Divis Labs and Monnet Ispat are few stocks which hit new 52-week high this Wednesday afternoon.

On the other hand, 185 stocks have hit new 52-week low including names like 8K Miles Software Services, Dish TV, Finolex Cables, Jet Airways, MEP Infra, Rolta India, Suzlon Energy and Vakrangee among others.

The breadth of the market favoured declines, with 858 stocks advancing, 878 declining and 322 remaining unchanged. On BSE, 1268 stocks advanced, 1273 declined and 174 remained unchanged.

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Source:https://www.moneycontrol.com/news/business/markets/d-street-buzz-nifty-it-underperforms-dragged-by-kpit-tech-sbi-sheds-2-metals-shine-2988561.html

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