Sensex today: YES Bank, RIL top losers; index slips 150 points, extends losses for 4th day in row
Sensex today: In a volatile day, the benchmark indices extended losses for the fourth straight session on Thursday with financial stocks continuing their downtrend while fertiliser stocks gained after the continuation of a government subsidy for urea. The Sensex ended at 33,685, down 150 points, while the broader Nifty50 closed at 10,360, down 50.75 points. In the broader market, the BSE Midcap and the BSE Smallcap indices outperformed to rally up to 0.8 per cent.
Banking shares were subdued with revelations of yet another fraud at Punjab National Bank compounding the already-gloomy sentiment on public-sector lenders.
Stock markets across Asia slipped broadly in tandem with Wall Street, which fell for a third session overnight after US President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade war. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.45 per cent.
Fertiliser stocks rose after the Indian government decided to continue a urea subsidy scheme till 2020 and implemented the direct benefit transfer scheme. National Fertilizers Ltd, Rashtriya Chemicals and Fertilisers and Madras Fertilizers Ltd gained about 4-6 per cent.
IT major Wipro rose as much as 2.8 per cent after the company said on Wednesday it would divest its hosted data centre services business to Ensono.
Sensex today: In a volatile day, the benchmark indices extended losses for the fourth straight session on Thursday with financial stocks continuing their downtrend while fertiliser stocks gained after the continuation of a government subsidy for urea. The Sensex ended at 33,685, down 150 points, while the broader Nifty50 closed at 10,360, down 50.75 points. In the broader market, the BSE Midcap and the BSE Smallcap indices outperformed to rally up to 0.8 per cent.
Banking shares were subdued with revelations of yet another fraud at Punjab National Bank compounding the already-gloomy sentiment on public-sector lenders.
Stock markets across Asia slipped broadly in tandem with Wall Street, which fell for a third session overnight after US President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade war. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.45 per cent.
Fertiliser stocks rose after the Indian government decided to continue a urea subsidy scheme till 2020 and implemented the direct benefit transfer scheme. National Fertilizers Ltd, Rashtriya Chemicals and Fertilisers and Madras Fertilizers Ltd gained about 4-6 per cent.
IT major Wipro rose as much as 2.8 per cent after the company said on Wednesday it would divest its hosted data centre services business to Ensono.
Latest Updates
Sensex heatmap at close
Source: BSE
Markets breadth
Market breadth, indicating the overall health of the market, turned positive. On the BSE, 1,634 stocks rallied, 1,056 stocks slipped, while 157 stocks remained unchanged.
Markets at close
The Sensex ended at 33,685, down 150 points, while the broader Nifty50 closed at 10,360, down 50.75 points.
Bandhan Bank IPO: Biggest ever bank issue launched
Bandhan Bank has just launched India's biggest ever initial public offering (IPO) by a bank to raise Rs 4,473 crore in a price band of Rs 370-375 per share. Although the Kolkata-based bank has been priced at a premium, analysts recommend subscribe and hold for the long-term. However, listing gains could be tepid, they added.
MMTC shares rally 20%
MMTC shares rallied nearly 19 per cent ahead of board meeting to consider bonus share issue next week. The state-owned trading company informed bourses that the board of directors will consider and approve the proposal for issue of bonus shares subject to consent of the President of India, in its meeting to be held on March 19, 2018.
ICICI Securities IPO opens on March 22
The price band for ICICI Securities' initial public offer (IPO) has been fixed at Rs 519 to Rs 520 per equity share, ICICI Bank said on Wednesday. The IPO will open for subscription on March 22 to raise an estimated Rs 4,000 crore.
Gitanjali Gems hits lower circuit
Gitanjali Gems stock continued its downturn, cracking 4.78 per cent to Rs 12.95. On Tuesday, NSE fined Gitanjali Gems, along with others such as ABG Shipyard, Amtek Auto, DS Kulkarni Developers, Bharati Defence and Infrastructure, Educomp Solutions, Shree Renuka Sugars, Moser-Baer (I) and Sterling Biotech for failing to file December quarter results.
Vakrangee hits upper circuit
Source: BSE
Fertiliser stocks rally
Fertiliser stocks such as Nagarjuna Fertilizers and Chemicals, National Fertilisers rallied after the government on Tuesday decided to implement direct benefit transfer (DBT) for fertiliser subsidy payments across India, seeking to prevent diversion of fertilisers for commercial use and generate data on the usage of the nutrients to help farmers.
Source: BSE
Nifty outlook by Angel Broking
Yesterday’s move clearly indicates that although we are in a ‘Sell on rise’ kind of market, this market is not willing to give up so easily. For a time being, index is clearly consolidating in a range of 10,480 – 10,300 and within this, one should ideally avoid trading index aggressively and should rather focus on individual stocks.
Markets at open
the benchamark indices were trading flat. At 9:25 am, the Sensex was trading at 33,801, down 34.35 points, while the broader Nifty50 was ruling at 10,398, down 12.25 points.
Rupee at open
Rupee opens at 64.93 per dollar against Wednesday’s close of 64.82 per dollar
Stocks in news
- Wipro to sell hosted data centre business to Ensono Holdings for $405 million.
- Havells India : Says pact with Hyundai for making magnetic contactors; Hundai to provide technology, grant license to co.
- Welspun Enterprises : Lowest bidder in NHDP project in Tamil Nadu
- Bandhan Bank Rs 1,342 crore IPO opens today
- ICICI Bank: The IPO of its subsidiary, ICICI Securities, will open for subscription on 22 March 2018 and shall close on 26 March 2018
Pre-open trade
The Sensex was trading at 33,847, up 11.44 points, while the broader Nifty50 was ruling at 10,407, down 3.30 points in pre-open trade.
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