Sensex ends 709 points lower, telecom and banking stocks under pressure
Video Credit: ANI - Duration: 01:27s - Published
Sensex ends 709 points lower, telecom and banking stocks under pressure
Equity benchmark indices closed 2 per cent lower on Thursday as traders booked profit a day after the US Federal Reserve said that it sees interest rates near zero through 2022.
On the economic front, Standard and Poor's affirmed its rating on India's long-term foreign and local currency sovereign credit at the lowest investment-grade level but retained a stable outlook on the economy.
At the closing bell, the BSE SandP Sensex was down by 709 points or 2.07 per cent at 33,538 while the Nifty 50 edged lower by 214 points or 2.12 per cent at 9,902.
All sectoral indices at the National Stock Exchange were in a sea of red with Nifty PSU bank down by 3.7 per cent, financial service by 2.3 percent, auto by 2 per cent and IT by 1.4 per cent.
Among stocks, telecom stocks plunged as the Supreme Court asked operators to present their views on a timeframe to pay the adjusted gross revenue (AGR) dues and the nature of guarantees.
Equity benchmark indices swung nearly 1 per cent lower during the afternoon session on July 30 ahead of the expiry day of monthly futures and options contracts. At the closing bell, the BSE S and P Sensex was down by 335 points or 0.88 per cent at 37,736 while the Nifty 50 lost 101 points or 0.9 per cent at 11,102. Most sectoral indices at the National Stock Exchange were in the red except for Nifty pharma which gained by 3.1 per cent and IT which crawled up by 0.6 per cent. Nifty bank slipped by 2 per cent, financial service by 1.8 per cent and metal by 1.2 per cent. Among stocks, energy majors were big losers with Bharat Petroleum Corporation down by 8 per cent to Rs 417.80 per share. IndianOil Corporation dipped by 4.1 per cent, ONGC by 2.4 per cent and Power Grid Corporation by 2.3 per cent. Banking scrips too witnessed losses with IndusInd Bank dipping by 5.4 per cent, Axis Bank by 3.4 per cent and State Bank of India by 2.4 per cent while home loan lender lost by 3.6 per cent. Pharma stocks, however, witnessed handsome gains with Dr Reddy's advancing by 4.6 per cent to close at Rs 4,500 per share. Sun Pharma and Cipla were up by 3.7 per cent and 0.8 per cent respectively. Wipro, Infosys, Vedanta, Maruti Suzuki, Britannia and Reliance Industries too traded with a positive bias. Meanwhile, Asian stocks were flat as the US Federal Reserve members voted to leave the target range for short-term rates between 0 and 0.25 per cent to support the country's virus-battered economy. Japan's Nikkei and Hong Kong's Hang Seng were down by 0.26 per cent and 0.69 per cent but South Korea's Kospi moved up by 0.17 per cent.
US Senator Dick Durbin is requesting the Fed probe card networks and issuers, such as Mastercard and Visa. The senator wants an investigation over potentially anticompetitive fees. Durbin's letter hi-lighted that merchants are paying excessive debit card fees during the pandemic. The companies have planned major fee changes for US-based merchants. The Feds are requesting a competition-based investigating into Visa, Mastercard, and major issuers.
Equity benchmark indices advanced by 1.5 per cent on July 17 following heavy buying in energy and financial stocks. At the closing bell, the BSE SandP Sensex was up by 548 points or 1.5 per cent at 37,020 while the Nifty 50 edged higher by 162 points or 1.51 per cent at 10,902. Except for Nifty IT which dipped by 0.6 per cent, all sectoral indices at the National Stock Exchange were in the positive zone with Nifty financial service up by 1.9 per cent, PSU bank by 1.8 per cent and private bank by 1.7 per cent. Among stocks, Bharat Petroleum Corporation was the top gainer after moving up by 12.4 per cent to Rs 442.85 per share. While JSW Steel gained by 3.9 per cent to Rs 209.05.
Equity benchmark indices traded lower during early hours on July 14 due to weak global cues amid persistent concerns over the record number of new coronavirus cases worldwide. At 10:15 am, the BSE S and P Sensex was down by 262 points or 0.71 per cent at 36,432 while the Nifty 50 edged lower by 81 points or 0.75 per cent at 10,721.Except for Nifty pharma and IT, all sectoral indices at the National Stock Exchange were in the red with Nifty PSU bank down by 2.1 per cent, private bank by 2 per cent, financial service by 1.7 per cent and metal by 1.4 per cent. Among stocks, Bharat Heavy Electricals Ltd (BHEL) plunged 6.4 per cent after research house Citi downgrade it to sell from neutral with a target at Rs 34 per share. Both HDFC and HDFC Bank slipped by 3.3 per cent and 2 per cent respectively after the latter conducted a probe into allegations of improper lending practices in its vehicle-financing operation.
Traders booked profit and equity benchmark indices ended marginally lower on July 10 following a decline in global peers amid surging coronavirus cases. The BSE S and P Sensex settled 143 points or 0.39 per cent lower at 36,594 while the Nifty 50 sank by 45 points or 0.42 per cent at 10,768.Sectoral indices at the National Stock Exchange were mixed with Nifty PSU bank down by 2.6 per cent, private bank by 2.3 per cent, financial service by 1.9 per cent and metal by 0.7 per cent. Among stocks, private lender Axis Bank slipped by 3.2 per cent to close at Rs 439.20 per share. ICICI Bank was down by 2.8 per cent, IndusInd Bank by 2.7 per cent and State Bank of India by 1.8 per cent.The other prominent losers were HDFC, JSW Steel, GAIL, Titan and Adani Ports.However, Reliance Industries jumped by 3.1 per cent to wind up the day at Rs 1,881 per share. Sun Pharma closed 2.2 per cent higher while FMCG majors Hindustan Lever, Britannia and Nestle India were up by 2.5 per cent, 1.5 per cent and 0.4 per cent respectively.
The Nasdaq jumped more than 1% on Friday, powered by strong earnings from some of the largest U.S. companies, but the Dow and S&P finished with smaller gains as uncertainty about the government's next round of coronavirus aid kept economic worries on the radar. Fred Katayama reports.
Equity benchmark indices traded lower during early hours on Thursday as traders booked profit across counters, a day after the US Federal Reserve said that it sees interest rates near zero through 2022. On the economy front, Standard and Poor's affirmed its rating on India's long-term foreign and local currency sovereign credit at the lowest investment-grade level and retained its stable outlook on the economy. India's long-term rating was affirmed at BBB-minus with a stable outlook while the short-term rating was held at A3. At 10:15 am, the BSE SandP Sensex was down by 80 points or 0.23 per cent at 34,167 while the Nifty 50 edged lower by 23 points or 0.23 per cent at 10,093. Sectoral indices at the National Stock Exchange were mixed. Among stocks, Sun Pharma lost by 2.5 per cent to Rs 486.45 per share.
Normally rather mild in his public remarks, US Vice President Mike Pence had sharp words Supreme Court Chief Justice John Roberts. In an interview with the Christian Broadcasting Network this week, Pence called Chief Justice Roberts a 'disappointment' to conservative Americans. Last month, the Supreme Court rejected a Nevada church’s emergency plea to strike down the state’s temporary 50-person cap on worship services. Nominated by former President George W.
After getting the notification from the Government of India, the Central Bureau of Investigation (CBI) on Thursday registered case against Rhea Chakraborty, Indrajit Chakraborty, Sandhya Chakraborty, Showik Chakraborty, Samuel Miranda, Shruti Modi, and others in connection with Sushant Singh Rajput's death case. The investigating agency booked 6 accused and others in sections including criminal conspiracy, abetment of suicide, wrongful restrain, wrongful confinement, theft, criminal breach of trust, cheating and criminal intimidation. CBI said it is also in touch with Bihar Police. Bihar Chief Minister Nitish Kumar had sent a recommendation to the Central Government to investigate the case filed in Patna based on the complaint of Sushant's father KK Singh against Rhea Chakraborty under sections including abetment of suicide on July 25. In Supreme Court, Solicitor General Tushar Mehta, appearing for the central government, submitted before a single-judge bench of Justice Hrishikesh Roy that the Centre has accepted the Bihar government's request recommending a CBI inquiry into the Sushant Singh Rajput death case. The apex court was hearing a petition filed by Chakraborty seeking directions to transfer the case registered regarding the late actor's death in Bihar's Patna to Mumbai. Tiwari, who reached Mumbai for probe in Rajput case, has been quarantined by Brihanmumbai Municipal Corporation (BMC) officials till August 15.
While speaking to ANI in Patna on August 06, the DGP of Bihar, Gupteshwar Pandey spoke on Mumbai police's move of quarantining Bihar IPS officer Vinay Tiwari. He said, "Mumbai police's move of quarantining Bihar IPS officer is unprofessional. Even, Supreme Court has given its observation in the matter. Still, there is no positive response from them (Mumbai police). I had hopes that they'll free him by evening or night but when I talked to them they told me that Tiwari has still not been freed." Bihar IPS officer Vinay Tiwari came to Mumbai to investigate in Sushant Singh Rajput's death case after late actor's father filed an FIR against Rhea Chakraborty. On Aug 04, BMC Addl Municipal Commissioner wrote to IGP Patna (Central) over quarantine of Bihar IPS Officer, in Mumbai. The letter reads, 'He can conduct proceedings with Maharashtra Govt's concerned officials on digital platforms like Zoom/Google Meet/Jio Meet or other such platforms.'
Equity benchmark indices surged nearly 1 per cent on Thursday after the Reserve Bank of India (RBI) kept the repo rate unchanged at 4 per cent. The BSE S-P Sensex closed 362 points or 0.96 per cent higher at 38,025 while the Nifty 50 gained by 99 points or 0.89 per cent at 11,200. Except for Nifty PSU bank, all sectoral indices at the National Stock Exchange were in the green with Nifty IT gaining by 1.8 per cent, FMCG by 1.4 per cent and pharma by 1.2 per cent.
Equity benchmark indices were in the positive terrain during early hours on August 06 ahead of the Reserve Bank of India's monetary policy that is expected to announce measures to boost economic growth amid rising COVID-19 cases. At 10:15 am, the BSE SandP Sensex was up by 213 points or 0.57 per cent at 37,876 while the Nifty 50 gained by 60 points or 0.54 per cent at 11,162. All sectoral indices at the National Stock Exchange were in the green with Nifty IT gaining by 1.6 per cent. Financial and banking gauges were subdued. Among stocks, Tech Mahindra advanced by 2.1 per cent, Tata Consultancy Services by 1.9 per cent, Wipro by 1.6 per cent and HCL Technologies by 1.4 per cent. Energy stocks too gained with ONGC, Bharat Petroleum Corporation, IndianOil Corporation, GAIL and Coal India witnessing marginal gains. However, Eicher Motors was down by 1.6 per cent, Maruti Suzuki by 1.1 per cent, JSW Steel by 1 per cent and Hindalco by 0.7 per cent.
Equity benchmark indices wiped out all intra-day gains to end flat on Wednesday but metal and auto stocks gained substantially. When the closing bell rang, the BSE SandP Sensex was down by 25 points or 0.07 per cent at 37,663 but the Nifty 50 gained by 6 points or 0.06 per cent at 11,102. Except for Nifty pharma, PSU bank and FMCG, all sectoral indices at the National Stock Exchange were in the positive terrain with Nifty metal moving up by 4.2 per cent and auto by 2.1 per cent. Among stocks, Hindalco emerged as the top gainer by adding 8.6 per cent at Rs 176.40 per share. Tata Steel was up by 6.6 per cent at Rs 397.05 while JSW Steel ticked up by 3 per cent to Rs 235.15 per share.
Equity benchmark indices were on upswing during early hours on August 05 amid positive global cues with metal and banking stocks leading the rally. At 10:15 am, the BSE SandP Sensex was up by 408 points or 1.08 per cent at 38,096 while the Nifty 50 gained by 105 points or 0.95 per cent at 11,201. All sectoral indices at the National Stock Exchange were in the green with Nifty metal moving up by 2.2 per cent, private bank by 1.5 per cent and financial service by 1.2 per cent. Among stocks, Hindalco was the top gainer by adding 3.6 per cent at Rs 168.20 per share while Tata Steel was up by 2 per cent to Rs 380.20.Private lenders Axis Bank and IndusInd Bank edged higher by 3 per cent and 2.2 per cent respectively while State Bank of India ticked up by 2.1 per cent.Bajaj Finance and Bajaj Finserv were up by 2.5 per cent and 2.1 per cent. The other prominent gainers were UltraTech Cement and Grasim.However, FMCG majors Nestle India, Hindustan Unilever and ITC were in the negative terrain along with Power Grid Corporation and Dr Reddy's.
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