Market Wrap: Sensex closes lower, Nifty ends flat, TCS shares fall 5%
BSE Sensex closed lower by 61.16 points at 33,856.78, while the Nifty 50 edged up 5.45 points to close at 10,426.85. Here are the highlights from the markets
Last Modified: Tue, Mar 13 2018. 05 06 PM IST
- 3.35 pm ISTClosing bell
- 2.55 pm ISTHDFC to pare over 4% stake in asset management arm through IPO
- 2.40 pm ISTMarket update
- 2.30 pm ISTEuropean shares steady
- 2.20 pm ISTRupee trades higher against US dollar
- 1.15 pm ISTSingtel concludes investment in Bharti Airtel
- 1.13 pm ISTGail buys two liquefied natural gas cargoes
- 12.27 pm ISTVedanta declares interim dividend
- 12.25 pm ISTStarlite Components bags Rs335 crore contract
- 12.23 pm ISTVascon Engineers gets order worth Rs96.5 crore
- 11.34 am ISTPSU bank shares rally on BoI’s Rs7,000 crore bad loan recovery
- 11.30 am ISTInterGlobe Aviation shares trade lower
- 11.27 am ISTSandhar Tech IPO launch on 19 March, price band set at Rs327-332
- 10.40 am ISTMarket update
- 10.35 am ISTSuzlon Energy shares rise 3%
- 10.00 am ISTTCS shares fall over 5%
- 9.57 am ISTBanking stocks trade higher
- 9.55 am ISTInflation down, GDP growth up: Goldilocks is back but will she stay?
- 9.53 am ISTRupee, bond prices gain on softer inflation
- 9.35 am ISTMarket update
- Mumbai: BSE Sensex closed 61 points lower on Tuesday dragged by IT stocks despite positive key economic data. NSE’s Nifty 50 ended flat. Shares, rupee and bond prices gained in the early trading as better-than-estimated consumer price inflation eased traders fears of near-term interest rate hikes by the Reserve Bank of India (RBI). IT shares suffered most dragged by TCS, which fell over 5% after a series of block deals. Meanwhile, FPIs purchased shares worth Rs374.65 crore, while domestic investors sold equities worth Rs464.59 crore on Monday, provisional data showed. Here are the highlights from the markets:
- 3.35 pm IST Closing bellBSE Sensex closed lower by 61.16 points, or 0.18%, to 33,856.78, while the Nifty 50 edged up 5.45 points, or 0.05%, to close at 10,426.85. However, BSE MidCap and SmallCap outperformed the benchmark Sensex and closed higher by 1% and 1.14%, respectively. Among the sectoral indices on BSE, telecom, oil and gas, realty and consumer durables ended higher, while IT and Teck closed lower.
- 2.55 pm IST HDFC to pare over 4% stake in asset management arm through IPOMortgage lender Housing Development Finance Corp. Ltd (HDFC) on Tuesday said it will sell over 4% stake in its asset management arm HDFC Asset Management Co. Ltd (HDFC AMC) through an initial public offer (IPO). It said in a regulatory filing that the committee of directors set up by the HDFC board has approved offering up to 8,592,970 equity shares of HDFC AMC at Rs5 each, representing 4.08% of the paid-up share capital, for sale in the IPO.
- 2.40 pm IST Market updateBSE Sensex traded lower by 102.01 points, or 0.30%, to 33,815.93, while the Nifty 50 fell 18.45 points, or 0.18%, to 10,402.95. BSE MidCap and SmallCap rose 0.735 and 0.90%, respectively. Among the sectoral indices on BSE, realty gained most at 1.49%, followed by oil and gas 1.27%, consumer durables 1.13% and telecom 1.06%, whereas IT fell 1.63%, teck 1.24% and FMCG 0.14%.
- 2.30 pm IST European shares steadyEurope’s main stock markets steadied at the start of trading, as investors in London awaited a UK budget update from the government. London’s benchmark FTSE 100 index opened flat at 7,213.31 points. In the eurozone, Frankfurt’s DAX 30 edged up 0.1% to 12,425.69 points and the Paris CAC 40 grew 0.2% to 5,284.84. (AFP)
- 2.20 pm IST Rupee trades higher against US dollarThe Indian rupee and 10-year bond prices gained after better-than-estimated consumer price index (CPI) inflation eased fears of near-term interest rate hikes by the Reserve Bank of India (RBI). At 2pm, the rupee was at 64.99 a dollar, up 0.10% from its previous close of 65.05. The home currency opened at 64.93 a dollar and touched a high and a low of 64.92 and 65.01 respectively. Yields on 10-year government bonds was at 7.627% compared to Monday’s close of 7.630%.
- 1.15 pm IST Singtel concludes investment in Bharti AirtelBharti Airtel said Singtel has concluded its investment of Rs2,649 crore in Bharti Telecom Ltd with the allotment of 85,450,000 equity shares. Singtel’s total stake, along with its affiliates, in Bharti Telecom has increased to 48.90%, whereas Bharti Enterprises continues to hold over 50% stake, said the company in a BSE filing. Shares traded 0.58% up at Rs423.20.
- 1.13 pm IST Gail buys two liquefied natural gas cargoesGail (India) Ltd bought two liquefied natural gas cargoes for delivery in April through a tender, traders said on Tuesday. The company likely paid premiums of about $8.50 to $8.70 per mmBtu for the two cargoes to be delivered over 1-7 April and 8-17 April, they said. Shares traded 1.34% up at Rs452.40. (Reuters)
- 11.34 am IST PSU bank shares rally on BoI’s Rs7,000 crore bad loan recoveryShares of public sector banks surged on Tuesday, following a media report that Bank of India has recovered nearly Rs7,000 crore bad loans in the last two months. Bank of India shares surged over 10% to Rs106 apiece, while the Nifty PSU Bank index rose 3.3% and India’s benchmark Sensex index was up 0.4% to 34,046.81 points.
- 11.30 am IST InterGlobe Aviation shares trade lowerBudget carrier IndiGo cancelled as many as 47 flights on Tuesday after the country’s aviation regulator Directorate General of Civil Aviation ( DGCA) grounded its eight A320Neo planes with faulty Pratt & Whitney engines. Shares of InterGlobe Aviation Ltd, parent of IndiGo, traded 1.42% down at Rs1258.45.
- 11.27 am IST Sandhar Tech IPO launch on 19 March, price band set at Rs327-332Auto parts maker Sandhar Technologies Ltd on Monday said it will be launching its over Rs500 crore initial public offering (IPO) on 19 March. Sandhar has fixed a price band of Rs327 to Rs332 per share for the public offering. The share sale, which ends on 21 March, will also see private equity firm GTI Capital sell the majority of its stake through an offer for sale.
- 10.40 am IST Market updateBSE Sensex traded higher by 126.35 points, or 0.37%, to 34,044.29, while the Nifty 50 rose 46.10 points, or 0.44%, to 10,467.50. BSE MidCap and SmallCap rose 1% and 1.17%, respectively. Among sectoral indices on BSE, telecom gained most at 1.74%, bankex 1.34%, finance 1.29 and realty 1.02%. IT index fell 0.78%.
- 9.57 am IST Banking stocks trade higherBanking stocks gained after Bank of India said that it got recovery of Rs7,000 crore from other banks. Bank of India rose 10%, Andhra Bank 7%, Union Bank of India 6.3%, Oriental Bank of Commerce 6%, Bank of Baroda 5.2%, Karnataka Bank 5.2%, Syndicate Bank 5%, Punjab National Bank 5%, Allahabad Bank 5%, Corporation Bank 4.5%, Canara Bank 4%, IDBI Bank 4% and Dena Bank was up 3%.
- 9.55 am IST Inflation down, GDP growth up: Goldilocks is back but will she stay?The Goldilocks economy, one with high economic growth and lower inflation, is back both in India and globally, a welcome change from the recent inflation scare.
Inflation is down and GDP growth is up. Now all the government has to do is fix its books and that of its banks for Goldilocks to stay. Read all about it here by @aparnaviyer02 https://t.co/gi676SM4Ku— Mint Mark to Market (@livemint_m2m) March 13, 2018
- 9.53 am IST Rupee, bond prices gain on softer inflationThe Indian rupee and 10-year bond prices gained after better-than-estimated consumer price index (CPI) inflation eased fears of near-term interest rate hikes by the Reserve Bank of India (RBI). The home currency opened at 64.93 a dollar. At 9.15am, the rupee was at 64.93 a dollar, up 0.17% from its previous close of 65.05. Yields on 10-year government bonds was at 7.613% compared to Monday’s close of 7.630%. Bond yields and prices move in opposite directions.