Sensex at five-week low; Nifty settles at 9,710, down 350 pts for the week

All that happened in Friday's session

4:19 PM

Anand James, Chief Market Strategist, Geojit Financial Services 

 

Though Sebi’s softened stance on shell companies revived midcap stocks, volatility persisted keeping risk appetite under check. VIX soared over 15 for the first time in 6 months, as anxiety prevailed over the aggravating tensions between the US and North Korea, and investors were largely cautious ahead of the weekend. IIP and CPI numbers due shortly should offer the markets some distraction. Investors would be keeping their eyes on escalating tensions on the Korean peninsula for its impact on neighbouring economic powerhouses.

3:53 PM

Sectoral trend

PSU banks and metal stocks shed the most.

Source: NSE

3:51 PM

Nifty Pharma bucks trend

Nifty Pharma (up 0.1%) was the sole sectoral gainer among NSE indices. All but two pharma stocks ended in green. CLICK HERE TO TRACK INDEX 

3:44 PM

Top Sensex gainers and losers 

Source: BSE

3:41 PM

Markets breadth negative

Market breadth depicted weakness. There were more than two losers against every gainer on BSE. 1,530 shares fell and 1000 shares rose. A total of 129 shares were unchanged.

3:39 PM

Broader markets outperform 

The BSE Midcap (down 0.2%) was down marginally, while the BSE Smallcap settled nearly unchanged. 

3:38 PM

Markets at close

The Sensex settled at 31,213, down 317 points, while the broader Nifty50 closed at 9,710, down 109 points. 

3:30 PM

Bank Nifty dips below 24,000, down 1% 

CLICK HERE TO TRACK BANKING STOCKS 

Source: NSE

3:26 PM

Earnings impact

SBI tumbles as much as 5.9% post Q1 results as bad loans soar. CLICK HERE FOR THE STORY

3:19 PM

39 stocks from BSE 500 index hit 52-week lows

 

Markets have been on a downward spiral since August 1 when the S&P BSE Sensex ended at a record high of 32,575 levels. Since then, the index has tanked 4.2%, or around 1,381 points in past eight trading sessions. CLICK HERE TO READ MORE

3:16 PM

European markets

 

European markets trade lower. Europe's main London, Frankfurt and Paris markets started between 0.5 and 1.1% lower and Germany's ultra-safe 10-year government bonds were trading at their highest prices since June.

3:05 PM

Markets check

 

At 3:00 pm, the Sensex was trading at 31,175, down 355 points, while the broader Nifty50 was ruling at 9,697, down 122 points. 

3:00 PM

Volatility index

India VIX shoots up 11%, highest in six-month.

Source: NSE

2:30 PM

Earnings impact

Union Bank of India tanked over 7% to Rs 124 after the lender’s net profit for the first quarter ended June 2017 (Q1FY18) dipped by 30.1% to Rs 116 crore on a sharp rise in provisions for bad loans and taxes. The Mumbai-based lender had posted a net profit of Rs 166 crore in April-June 2016 (Q1FY17). CLICK HERE FOR DETAILED EARNINGS

2:07 PM

Market falls 4% in 7 sessions: Is it a good time to buy?

 

Given the developments, analysts say there could be more pain in store for the markets that have recently taken cognizance of the developing geopolitical situation. CLICK HERE TO READ FULL REPORT

1:45 PM

Markets check

 

At 1:45 pm, the Sensex was trading at 31,232, down 298 points, while the broader Nifty50 was ruling at 9,725, down 95 points. 

1:28 PM

SBI top Sensex loser post Q1 numbers

 

SBI tanked 4% to Rs 284 after the public sector bank's gross NPA increased to Rs 1.88 lakh crore from Rs 1.12 lakh crore and net NPA jumped to Rs 1.07 lakh crore from Rs 58,277 crore on sequential basis.

1:20 PM

SBI Q1 earnings

SBI's Q1 net profit came in at Rs 3,032 crore for the June quarter against Rs 1,046 reported in the March quarter of previous fiscal year. The public sector bank's net interest income weakened to Rs 19,323 crore against 19,673 reported in Q4FY17.

1:15 PM

SBI Q1 earnings 

 

State Bank of India's net non-performing asset (NPA) came in at 5.97% in the June quarter vs 3.71% reported in the March quarter of previous fiscal year, while its gross NPA stood at 9.97% vs 6.9% QoQ.

1:00 PM

44 BSE-500 stocks outperform Sensex during ongoing week

Tata Steel, Britannia Industries, Edelweiss Financial Services, PC Jeweller, Future Retail, Relaxo Footwear and Finolex Cables have outperformed the market by gaining up to 15% against 3% fall in Sensex during the current week.

Click here for details

12:21 PM

Economic Survey Part-2: Early signs of tax base expanding under GST.

12:21 PM

Economic Survey Part-2: Farm loan waivers could cut economic demand up to 0.7% of GDP.

12:20 PM

Economic Survey Part-2: Downside risks to FY18 GDP forecast of 6.75-7.5%.

12:19 PM

Economic Survey Part-2: FY18 Budget opted for gradual fiscal consolidation.

12:19 PM

Govt tables Eco Survey Part-2 in Parliament.

Economic Survey Part-2: CPI inflation by March likely to be below 4%

11:55 AM

Cadila Healthcare fell 0.5% after the pharma firm's Q1 numbers missed analysts' expectations as profit plunged 65.3% year-on-year to Rs 138.4 crore and revenue was down 4.5% at Rs 2,229 crore.

11:30 AM

Market Check

 

At 11:30 am, S&P BSE Sensex was trading ar 31,325, down 206 points while the broader Nifty50 index was ruling at 9,747, down 72 points.

 

 

11:11 AM

Three reasons why market tanked over 4% from lifetime highs in 7 sessions: Geopolitical tensions, Sebi move on shell companies and poor June-quarter earnings.

Click here for more detailed report

10:41 AM

MOIL was up 5% at Rs 346 on BSE in otherwise weak market as the company’s June quarter net profit more than doubled and the board recommended bonus share in the ratio of 1:1.

 

The state-owned mining company reported net profit of Rs 97.73 crore for the quarter ended June 2017 (Q1FY18). It had profit of Rs 47.15 crore in the same quarter last fiscal.

10:26 AM

Cochin Shipyard lists

Cochin Shipyard moved to Rs 528 on the National Stock Exchange (NSE), a 22% premium against its issue price of Rs 432 offered to qualified institutional buyers (QIBs) and non institutional investors (NIIs).  The retail investors and employees offered shares at price of Rs 411 (a discount of Rs 21 per equity share).