You are here: Home » News-CM » Equities » Market Report
Business Standard

Sensex settles below 28,000 mark

Capital Market 

Private sector bank stocks and index heavyweight ITC led small losses for key benchmark indices in a lacklustre trading session. The barometer index, the S&P Sensex, fell 66.51 points or 0.24% to settle at 27,984.37. The Nifty 50 index fell 18.80 points or 0.22% to settle at 8,659.10. The settled below the psychologically important 28,000 level after alternately swinging above and below that level in intraday trade.

In overseas stock markets, European stocks were mixed. Most Asian stocks edged higher tracking overnight gains in US stock markets. In mainland China, the Shanghai Composite ended higher by 0.03%. In Hong Kong, the Hang Seng ended 0.38% lower. Latest data showed that China's gross domestic product (GDP) rose 6.7% in the third quarter from a year earlier. Another data showed that China's industrial output increased 6.1% in September 2016, from a year earlier. US stocks registered modest gains yesterday, 18 October 2016, helped by stronger-than-expected quarterly reports and after mixed inflation data.

Back home, the fell 66.51 points or 0.24% to settle at 27,984.37, its lowest closing level since 17 October 2016. The index rose 80.19 points, or 0.29% at the day's high of 28,131.07. The index fell 124.71 points, or 0.44% at the day's low of 27,926.17.

The Nifty 50 index fell 18.80 points or 0.22% to settle at 8,659.10, its lowest closing level since 17 October 2016. The index rose 20.85 points, or 0.24% at the day's high of 8,698.75. The index fell 41.20 points, or 0.47% at the day's low of 8,636.70.

Closer home, the market breadth indicating overall health of the market was positive. On BSE, 1,641 shares rose and 1,174 shares declined. A total of 215 shares were unchanged. The Mid-Cap index rose 0.06%. The Small-Cap index rose 0.55%. Both these indices outperformed the Sensex.

The total turnover on amounted to Rs 3940.14 crore, higher than turnover of Rs 3703.61 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P Utilities index (up 1.17%), the S&P Power index (up 1.16%), the S&P Telecom index (up 0.91%), the S&P Oil & Gas index (up 0.75%), the S&P Basic Materials index (up 0.62%), the S&P Energy index (up 0.55%), the S&P Healthcare index (up 0.51%), the S&P Teck index (up 0.26%), the S&P IT index (up 0.23%), the S&P Metal index (up 0.18%), the S&P Consumer Durables index (up 0.08%), the S&P Industrials index (up 0.03%) and the S&P Capital Goods index (down 0.05%), outperformed the Sensex. The S&P Finance index (down 0.26%), the S&P Consumer Discretionary Goods & Services index (down 0.28%), the S&P Bankex (down 0.52%), the S&P Auto index (down 0.54%), the S&P Realty index (down 0.91%) and the S&P FMCG index (down 1.09%), underperformed the Sensex.

Index heavyweight and cigarette major ITC fell 2.44% at Rs 239.80 on reports that the Goods and Services Tax (GST) Council is pondering over having multiple tax slabs for GST along with a 'sin' cess on demerit goods such as tobacco and luxury products. The company currently pays 25% value-added tax (VAT) and 40% excise duty. After GST, ITC may have to pay 26% GST along with 'sin' cess, reports suggested.

Bank stocks witnessed a mixed trend. Among public sector banks, (up 4.48%), (up 3.93%), Punjab & Sind Bank (up 2.94%), (up 1.09%), (up 0.66%), (up 0.44%), (up 0.20%), (up 0.18%), Punjab National Bank (up 0.14%), Syndicate Bank (up 0.14%), edged higher. (down 0.13%), UCO Bank (down 0.14%), Union (down 0.38%), State (down 0.82%) and Central (down 1.74%), edged lower.

(BoB) fell 0.29% to Rs 155.20 after the bank announced that a meeting of the Capital Raising Committee of the Board is scheduled to meet on 21 October 2016, to consider and approve the issue of bonds. The announcement was made after market hours yesterday, 18 October 2016. It may be recalled that BoB had announced on 15 October 2016 that it had initiated the process of raising funds through issuance of Basel III Compliant AT-I (Additional Tier-I Capital) Bonds of Rs 1000 crore with Green Shoe option of Rs 1000 crore (Total size not to exceed Rs 2000 crore) on private placement basis.

Among private sector banks, RBL Bank (up 1.41%), (up 0.92%), (up 0.57%), (up 0.09%), Yes Bank (up 0.04%) and Bank (up 0.03%), edged higher. Kotak Mahindra Bank (down 0.41%), (down 1.46%) and (down 2%), edged lower.

Capital goods stocks were mixed. Jindal Saw (up 5.44%), Suzlon Energy (up 3.06%), Praj Industries (up 2.29%), ABB India (up 0.97%), AIA Engineering (up 0.42%), SKF India (up 0.26%), Crompton Greaves (up 0.13%) and Lakshmi Machine Works (up 0.01%), edged higher. BEML (down 0.12%), Larsen & Toubro (L&T) (down 0.18%), Siemens (down 0.33%), Bharat Electronics (down 0.44%), Punj Lloyd (down 0.44%), GE T&D India (down 0.78%), Thermax (down 1.04%), Reliance Defence and Engineering (down 1.22%), GE Power India (down 1.62%) and Havells India (down 4.78%), edged lower.

Bharat Heavy Electricals (Bhel) rose 3.75% at Rs 141.25 on reports the Supreme Court allowed appeal against Madras High Court's stay over construction of Ennore SEZ supercritical thermal power project. Bhel had won a contract in October 2014 worth Rs 7800 crore from Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for setting up 2X660 megawatt (MW) thermal power plant on engineering, procurement and construction (EPC) basis at Ennore SEZ. However, the contract was challenged by a rival consortium.

Havells India edged lower as the company's Q2 September 2016 net profit was boosted by other income. The stock fell 4.78% at Rs 410.55. The company's net profit rose 21.97% to Rs 145.79 crore on 9.8% rise in total income to Rs 1477.54 crore in Q2 September 2016 over Q2 September 2015. The net profit was boosted by 158.16% surge in other income to Rs 25.30 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 18 October 2016.

The has risen 118.41 points or 0.42% in this month so far (till 19 October 2016). The has risen 1,866.83 points or 7.15% in calendar year 2016 so far (till 19 October 2016). From a 52-week low of 22,494.61 hit on 29 February 2016, the barometer index has risen 5,489.76 points or 24.40%. From a 52-week high of 29,077.28 hit on 8 September 2016, the barometer index has fallen 1,092.91 points or 3.76%. The is off 2,040.37 points or 6.80% from a record high of 30,024.74 hit on 4 March 2015.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Sensex settles below 28,000 mark

Private sector bank stocks and index heavyweight ITC led small losses for key benchmark indices in a lacklustre trading session. The barometer index, the S&P BSE Sensex, fell 66.51 points or 0.24% to settle at 27,984.37. The Nifty 50 index fell 18.80 points or 0.22% to settle at 8,659.10. The Sensex settled below the psychologically important 28,000 level after alternately swinging above and below that level in intraday trade.

Private sector bank stocks and index heavyweight ITC led small losses for key benchmark indices in a lacklustre trading session. The barometer index, the S&P Sensex, fell 66.51 points or 0.24% to settle at 27,984.37. The Nifty 50 index fell 18.80 points or 0.22% to settle at 8,659.10. The settled below the psychologically important 28,000 level after alternately swinging above and below that level in intraday trade.

In overseas stock markets, European stocks were mixed. Most Asian stocks edged higher tracking overnight gains in US stock markets. In mainland China, the Shanghai Composite ended higher by 0.03%. In Hong Kong, the Hang Seng ended 0.38% lower. Latest data showed that China's gross domestic product (GDP) rose 6.7% in the third quarter from a year earlier. Another data showed that China's industrial output increased 6.1% in September 2016, from a year earlier. US stocks registered modest gains yesterday, 18 October 2016, helped by stronger-than-expected quarterly reports and after mixed inflation data.

Back home, the fell 66.51 points or 0.24% to settle at 27,984.37, its lowest closing level since 17 October 2016. The index rose 80.19 points, or 0.29% at the day's high of 28,131.07. The index fell 124.71 points, or 0.44% at the day's low of 27,926.17.

The Nifty 50 index fell 18.80 points or 0.22% to settle at 8,659.10, its lowest closing level since 17 October 2016. The index rose 20.85 points, or 0.24% at the day's high of 8,698.75. The index fell 41.20 points, or 0.47% at the day's low of 8,636.70.

Closer home, the market breadth indicating overall health of the market was positive. On BSE, 1,641 shares rose and 1,174 shares declined. A total of 215 shares were unchanged. The Mid-Cap index rose 0.06%. The Small-Cap index rose 0.55%. Both these indices outperformed the Sensex.

The total turnover on amounted to Rs 3940.14 crore, higher than turnover of Rs 3703.61 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P Utilities index (up 1.17%), the S&P Power index (up 1.16%), the S&P Telecom index (up 0.91%), the S&P Oil & Gas index (up 0.75%), the S&P Basic Materials index (up 0.62%), the S&P Energy index (up 0.55%), the S&P Healthcare index (up 0.51%), the S&P Teck index (up 0.26%), the S&P IT index (up 0.23%), the S&P Metal index (up 0.18%), the S&P Consumer Durables index (up 0.08%), the S&P Industrials index (up 0.03%) and the S&P Capital Goods index (down 0.05%), outperformed the Sensex. The S&P Finance index (down 0.26%), the S&P Consumer Discretionary Goods & Services index (down 0.28%), the S&P Bankex (down 0.52%), the S&P Auto index (down 0.54%), the S&P Realty index (down 0.91%) and the S&P FMCG index (down 1.09%), underperformed the Sensex.

Index heavyweight and cigarette major ITC fell 2.44% at Rs 239.80 on reports that the Goods and Services Tax (GST) Council is pondering over having multiple tax slabs for GST along with a 'sin' cess on demerit goods such as tobacco and luxury products. The company currently pays 25% value-added tax (VAT) and 40% excise duty. After GST, ITC may have to pay 26% GST along with 'sin' cess, reports suggested.

Bank stocks witnessed a mixed trend. Among public sector banks, (up 4.48%), (up 3.93%), Punjab & Sind Bank (up 2.94%), (up 1.09%), (up 0.66%), (up 0.44%), (up 0.20%), (up 0.18%), Punjab National Bank (up 0.14%), Syndicate Bank (up 0.14%), edged higher. (down 0.13%), UCO Bank (down 0.14%), Union (down 0.38%), State (down 0.82%) and Central (down 1.74%), edged lower.

(BoB) fell 0.29% to Rs 155.20 after the bank announced that a meeting of the Capital Raising Committee of the Board is scheduled to meet on 21 October 2016, to consider and approve the issue of bonds. The announcement was made after market hours yesterday, 18 October 2016. It may be recalled that BoB had announced on 15 October 2016 that it had initiated the process of raising funds through issuance of Basel III Compliant AT-I (Additional Tier-I Capital) Bonds of Rs 1000 crore with Green Shoe option of Rs 1000 crore (Total size not to exceed Rs 2000 crore) on private placement basis.

Among private sector banks, RBL Bank (up 1.41%), (up 0.92%), (up 0.57%), (up 0.09%), Yes Bank (up 0.04%) and Bank (up 0.03%), edged higher. Kotak Mahindra Bank (down 0.41%), (down 1.46%) and (down 2%), edged lower.

Capital goods stocks were mixed. Jindal Saw (up 5.44%), Suzlon Energy (up 3.06%), Praj Industries (up 2.29%), ABB India (up 0.97%), AIA Engineering (up 0.42%), SKF India (up 0.26%), Crompton Greaves (up 0.13%) and Lakshmi Machine Works (up 0.01%), edged higher. BEML (down 0.12%), Larsen & Toubro (L&T) (down 0.18%), Siemens (down 0.33%), Bharat Electronics (down 0.44%), Punj Lloyd (down 0.44%), GE T&D India (down 0.78%), Thermax (down 1.04%), Reliance Defence and Engineering (down 1.22%), GE Power India (down 1.62%) and Havells India (down 4.78%), edged lower.

Bharat Heavy Electricals (Bhel) rose 3.75% at Rs 141.25 on reports the Supreme Court allowed appeal against Madras High Court's stay over construction of Ennore SEZ supercritical thermal power project. Bhel had won a contract in October 2014 worth Rs 7800 crore from Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for setting up 2X660 megawatt (MW) thermal power plant on engineering, procurement and construction (EPC) basis at Ennore SEZ. However, the contract was challenged by a rival consortium.

Havells India edged lower as the company's Q2 September 2016 net profit was boosted by other income. The stock fell 4.78% at Rs 410.55. The company's net profit rose 21.97% to Rs 145.79 crore on 9.8% rise in total income to Rs 1477.54 crore in Q2 September 2016 over Q2 September 2015. The net profit was boosted by 158.16% surge in other income to Rs 25.30 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 18 October 2016.

The has risen 118.41 points or 0.42% in this month so far (till 19 October 2016). The has risen 1,866.83 points or 7.15% in calendar year 2016 so far (till 19 October 2016). From a 52-week low of 22,494.61 hit on 29 February 2016, the barometer index has risen 5,489.76 points or 24.40%. From a 52-week high of 29,077.28 hit on 8 September 2016, the barometer index has fallen 1,092.91 points or 3.76%. The is off 2,040.37 points or 6.80% from a record high of 30,024.74 hit on 4 March 2015.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Sensex settles below 28,000 mark

Private sector bank stocks and index heavyweight ITC led small losses for key benchmark indices in a lacklustre trading session. The barometer index, the S&P Sensex, fell 66.51 points or 0.24% to settle at 27,984.37. The Nifty 50 index fell 18.80 points or 0.22% to settle at 8,659.10. The settled below the psychologically important 28,000 level after alternately swinging above and below that level in intraday trade.

In overseas stock markets, European stocks were mixed. Most Asian stocks edged higher tracking overnight gains in US stock markets. In mainland China, the Shanghai Composite ended higher by 0.03%. In Hong Kong, the Hang Seng ended 0.38% lower. Latest data showed that China's gross domestic product (GDP) rose 6.7% in the third quarter from a year earlier. Another data showed that China's industrial output increased 6.1% in September 2016, from a year earlier. US stocks registered modest gains yesterday, 18 October 2016, helped by stronger-than-expected quarterly reports and after mixed inflation data.

Back home, the fell 66.51 points or 0.24% to settle at 27,984.37, its lowest closing level since 17 October 2016. The index rose 80.19 points, or 0.29% at the day's high of 28,131.07. The index fell 124.71 points, or 0.44% at the day's low of 27,926.17.

The Nifty 50 index fell 18.80 points or 0.22% to settle at 8,659.10, its lowest closing level since 17 October 2016. The index rose 20.85 points, or 0.24% at the day's high of 8,698.75. The index fell 41.20 points, or 0.47% at the day's low of 8,636.70.

Closer home, the market breadth indicating overall health of the market was positive. On BSE, 1,641 shares rose and 1,174 shares declined. A total of 215 shares were unchanged. The Mid-Cap index rose 0.06%. The Small-Cap index rose 0.55%. Both these indices outperformed the Sensex.

The total turnover on amounted to Rs 3940.14 crore, higher than turnover of Rs 3703.61 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P Utilities index (up 1.17%), the S&P Power index (up 1.16%), the S&P Telecom index (up 0.91%), the S&P Oil & Gas index (up 0.75%), the S&P Basic Materials index (up 0.62%), the S&P Energy index (up 0.55%), the S&P Healthcare index (up 0.51%), the S&P Teck index (up 0.26%), the S&P IT index (up 0.23%), the S&P Metal index (up 0.18%), the S&P Consumer Durables index (up 0.08%), the S&P Industrials index (up 0.03%) and the S&P Capital Goods index (down 0.05%), outperformed the Sensex. The S&P Finance index (down 0.26%), the S&P Consumer Discretionary Goods & Services index (down 0.28%), the S&P Bankex (down 0.52%), the S&P Auto index (down 0.54%), the S&P Realty index (down 0.91%) and the S&P FMCG index (down 1.09%), underperformed the Sensex.

Index heavyweight and cigarette major ITC fell 2.44% at Rs 239.80 on reports that the Goods and Services Tax (GST) Council is pondering over having multiple tax slabs for GST along with a 'sin' cess on demerit goods such as tobacco and luxury products. The company currently pays 25% value-added tax (VAT) and 40% excise duty. After GST, ITC may have to pay 26% GST along with 'sin' cess, reports suggested.

Bank stocks witnessed a mixed trend. Among public sector banks, (up 4.48%), (up 3.93%), Punjab & Sind Bank (up 2.94%), (up 1.09%), (up 0.66%), (up 0.44%), (up 0.20%), (up 0.18%), Punjab National Bank (up 0.14%), Syndicate Bank (up 0.14%), edged higher. (down 0.13%), UCO Bank (down 0.14%), Union (down 0.38%), State (down 0.82%) and Central (down 1.74%), edged lower.

(BoB) fell 0.29% to Rs 155.20 after the bank announced that a meeting of the Capital Raising Committee of the Board is scheduled to meet on 21 October 2016, to consider and approve the issue of bonds. The announcement was made after market hours yesterday, 18 October 2016. It may be recalled that BoB had announced on 15 October 2016 that it had initiated the process of raising funds through issuance of Basel III Compliant AT-I (Additional Tier-I Capital) Bonds of Rs 1000 crore with Green Shoe option of Rs 1000 crore (Total size not to exceed Rs 2000 crore) on private placement basis.

Among private sector banks, RBL Bank (up 1.41%), (up 0.92%), (up 0.57%), (up 0.09%), Yes Bank (up 0.04%) and Bank (up 0.03%), edged higher. Kotak Mahindra Bank (down 0.41%), (down 1.46%) and (down 2%), edged lower.

Capital goods stocks were mixed. Jindal Saw (up 5.44%), Suzlon Energy (up 3.06%), Praj Industries (up 2.29%), ABB India (up 0.97%), AIA Engineering (up 0.42%), SKF India (up 0.26%), Crompton Greaves (up 0.13%) and Lakshmi Machine Works (up 0.01%), edged higher. BEML (down 0.12%), Larsen & Toubro (L&T) (down 0.18%), Siemens (down 0.33%), Bharat Electronics (down 0.44%), Punj Lloyd (down 0.44%), GE T&D India (down 0.78%), Thermax (down 1.04%), Reliance Defence and Engineering (down 1.22%), GE Power India (down 1.62%) and Havells India (down 4.78%), edged lower.

Bharat Heavy Electricals (Bhel) rose 3.75% at Rs 141.25 on reports the Supreme Court allowed appeal against Madras High Court's stay over construction of Ennore SEZ supercritical thermal power project. Bhel had won a contract in October 2014 worth Rs 7800 crore from Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for setting up 2X660 megawatt (MW) thermal power plant on engineering, procurement and construction (EPC) basis at Ennore SEZ. However, the contract was challenged by a rival consortium.

Havells India edged lower as the company's Q2 September 2016 net profit was boosted by other income. The stock fell 4.78% at Rs 410.55. The company's net profit rose 21.97% to Rs 145.79 crore on 9.8% rise in total income to Rs 1477.54 crore in Q2 September 2016 over Q2 September 2015. The net profit was boosted by 158.16% surge in other income to Rs 25.30 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 18 October 2016.

The has risen 118.41 points or 0.42% in this month so far (till 19 October 2016). The has risen 1,866.83 points or 7.15% in calendar year 2016 so far (till 19 October 2016). From a 52-week low of 22,494.61 hit on 29 February 2016, the barometer index has risen 5,489.76 points or 24.40%. From a 52-week high of 29,077.28 hit on 8 September 2016, the barometer index has fallen 1,092.91 points or 3.76%. The is off 2,040.37 points or 6.80% from a record high of 30,024.74 hit on 4 March 2015.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard