Business Standard

Markets end lower on S&P warning

Weak rupee also weighs on investor sentiment

Read more on:    Markets | Sensex | Nifty
Related News

Benchmark shares indices ended marginally lower on Monday erasing the day's gains after global rating agency Standard & Poor's today said India may become the first BRIC country to lose the investment grade rating.
Further, the weakening rupee also weighed on investor sentiment.

The 30-share provisionally ended down 91 points at 16,628 and the 50-share down 14 points at 5,054.

________________________________________

(Updated at 14:14 hrs)

have come off the intra-day high levels in the late noon deals on the back of some amount of selling pressure visible in the pharma and  heavyweight stocks such as ONGC, Wipro and Jindal Steel. The Sensex is up  75 points at 16,793 and the 50-share Nifty is up 17 points at 5,085 levels. Earlier in the day, the Sensex touched the high of 16,893

The European markets are trading on a strong note after the Eurozone finance ministers decided to grant a 100 billion euro bailout to struggling Spanish banks. Following this development, Spain's IBEX index surged 3.6% to 6,785 levels. CAC40 index, DAX and FTSE 100 were also trading higher by 1.4-2% each.

The Asian markets also ended higher in trades today, the Hang Seng advanced 2.4% or 451 points at 18,954, Nikkei advanced 165 points to 8,624 and the Kospi ended higher by 31 points at 1,867 levels.

Back home, Tata Power is the top gainer among the Sensex stocks. The stock has advanced 4% to Rs 98 on report that the government will allow to raise tariffs by up to Re 1 per unit for power projects using imported coal to offset the effect of increase in fuel price due to additional taxes or changes in law by the governments of source countries. Shares of other power generation companies were also trading higher by 4% each.

Sterlite Industries also jumped 3.5% to Rs 104, extending its Friday's 3.5% gain on reports that a unit of the company has entered into a tripartite agreement with Larsen & Toubro and its partner Dubai Aluminium Company (Dubal) to buy them out from their aluminium venture in Odisha, called Raykal Aluminium.

Bajaj Auto, Gail (India), Coal India, HUL, HDFC Bank, ICICI Bank, Hindalco and NTPC are also among the gainers.

On the other hand, Cipla, ONGC, Dr Reddy's Lab, Sun Pharma, Hero MotoCorp, Wipro, Jindal Steel and L&T are among the notable laggards.

On the sectoral front, Consumer durable index is the top gainer, up 1.7% to 6,135 levels. Power, metal, realty, bankex and PSU indices are also up 0.8-1.7% each. At the same time, healthcare indiex is the only loser down 0.9% at 6,575.

The broader markets are outperforming the benchmark indices. The BSE mid-cap small-cap indices are up 0.8 and 1% each respectively.

The overall breadth is positive as 1,653 stocks are advancing while 976 are declining.

Read more on:   
|
|

Read More

Markets post best gains in 3-months on Fed optimism

The market breadth was firm. Out of 2,933 stocks traded , 1,685 stocks advanced compared to 1,136 declined on BSE

Quick Links

 

Market News

For FIIs, India is the best in EM basket

Foreign investors are betting top dollar on the country as growth is likely to recover at a time when other emerging markets are battling ...

Markets to remain closed on account of Good Friday

It's a truncated week for Indian stock market with two public holidays this week

India Inc's m-cap nears record

Just 3% lower than the all-time peak seen in Nov 2010; IT and consumption-oriented firms move up the list, with bigger rewards for those ...

Coal India awaiting more triggers

Analysts expect it to raise prices this quarter to offset rising costs; faster clearances seen for project plans but output rise still seen as a ...

FIIs bullish on ICICI Bank; stake hits 6-year high

During quarter ended March, the stock gains 13.3% compared with the Bankex's 12% rise

Back to Top