MARKET WRAP: Sensex cracks 806 pts as rupee sinks; OMCs tank up to 13%

The Nifty IT index ended nearly 3 per cent lower weighed by Infibeam Avenues, Tata Consultancy Services and Infosys. The Nifty FMCG index, too, slipped nearly 3 per cent weighed by Hindustan Unilever

3:40 PM

Sectoral losers of the day

3:38 PM

S&P BSE Sensex gainers and losers

3:35 PM

Market At Close

The S&P BSE Sensex ended at 35,169, down 806 points while the broader Nifty50 index settled at 10,599, down 259 points.

3:29 PM

S&P BSE OIL & GAS index down over 8%

3:26 PM

NEWS ALERT

Committed to 3.3% fiscal deficit target: FM Jaitley

3:22 PM

COMMENT Mahesh Singhi, Founder & MD, Singhi Advisors on Chanda Kochhar leaving ICICI Bank

At a time when the market sentiment is at an all-time low and banks are facing the brunt of NPAs on their balance sheets, the exit of Chanda Kochhar will be key to reinstating the credibility of ICICI Bank. The move will restore investor confidence in one of India’s largest private sector banks. She has taken a most dignified and graceful exit which will ensure that the investigation will proceed in a smooth and transparent manner

3:22 PM

NEWS ALERT

Total benefit to customers on petrol and diesel prices is Rs 2.50 per litre: FM Jaitley

3:21 PM

NEWS ALERT

OMCs will absorb excise duty by Re 1 on petrol & diesel: FM Jaitley

3:20 PM

NEWS ALERT

Govt cuts excise duty on petrol and disel by Rs 1.50

3:18 PM

NEWS ALERT

Saw significant impact on market due to uncertainty surrounding IL&FS: FM Jaitley

3:17 PM

NEWS ALERT

Inflation is still moderate: FM Jaitley

3:16 PM

NEWS ALERT

Determined to ensure IL&FS situation should be contained: FM Jaitley

3:15 PM

NEWS ALERT

Crude prices and rise in interest rates in US have led to significant impact on markets globally: FM Arun Jaitley

3:09 PM

Russia, Saudi pump an extra 1 mn barrels of oil per day, market unmoved

Russia and Saudi Arabia are pumping an extra 1 million barrels a day of oil and could do even more. Yet the market doesn’t seem to care.

 

After their September meeting in Algiers spurred prices to a four-year high, the world’s two largest oil exporters sought to send a clearer signal to ease the price worries of consumers, and the U.S. president. READ MORE

3:00 PM

World Bank trims East Asia's 2019 GDP forecast on trade frictions

The World Bank slightly lowered its growth estimate for East Asia and the Pacific for next year as trade tensions and volatile capital flows cloud the global economic outlook.

The Washington-based lender said in a report on Thursday that the region's developing economies should use the "full range" of available macroeconomic policies to cushion the impact of external shocks. READ MORE

2:42 PM

Nifty Pharma index slips over 3%. Top losers

COMPANY	LATEST	PREV CLOSE	LOSS( )	LOSS(%)	VOLUME
BIOCON	624.75	660.90	-36.15	-5.47	1749343
LUPIN	854.20	898.05	-43.85	-4.88	2204164
GLENMARK PHARMA.	597.00	625.65	-28.65	-4.58	1458759
DR REDDY'S LABS	2392.00	2489.55	-97.55	-3.92	663670
SUN PHARMA.INDS.	597.45	620.85	-23.40	-3.77	3930573

2:37 PM

Rs 45 bn rights not enough, IL&FS needs Rs 300 bn in fresh equity: Report

 

Distressed-debt specialist firm, REDD Intelligence, has warned that beleaguered infrastructure financier, IL&FS, will require equity infusion of up to Rs 300 billion to get back on the rails. It will also have to take an impairment of at least Rs 150 billion before recovering a single rupee from its subsidiaries, the firm said. READ MORE

2:23 PM

ICICI Bank accepts Chanda Kochhar's request for an early retirement

 

ICICI Bank on Thursday informed stock exchanges that it had accepted its managing director and chief executive officer Chanda Kochhar’s request for a retirement from the bank at the earliest. Kochhar will also quit the boards of directors of the bank and its various subsidiaries. READ MORE

2:15 PM

ICICI Bank rebounds 9% after Chanda Kochhar quits as MD & CEO

Shares of ICICI Bank has moved higher by 6% to Rs 321, bouncing back 9% from its intra-day low on the BSE on Thursday, after the board of directors of private sector lender, accepted the request of Ms Chanda Kochhar to seek early retirement from the Bank at the earliest. The stock had hit a low of Rs 294.80 on the BSE in early morning trade today. READ MORE

2:01 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,089.03	-886.60	-2.46
S&P BSE SENSEX 50	11,073.15	-283.62	-2.50
S&P BSE SENSEX Next 50	30,665.71	-851.73	-2.70
S&P BSE 100	10,796.16	-280.01	-2.53
S&P BSE Bharat 22 Index	3,451.85	-25.79	-0.74

(Source: BSE)

1:58 PM

NEWS ALERT

ICICI Bank board appoints Sandeep Bakhshi as MD, CEO for 5 years w.e.f October 3

1:55 PM

NEWS ALERT
ICICI Bank names Sandeep Bakshi as MD&CEO

1:54 PM

NEWS ALERT
ICICI bank accepts CEO Chanda Kochhar's early retirement request 

1:52 PM

NEWS ALERT

ICICI Bank says Chanda Kochhar to seek Retirement

1:47 PM

Rupee nearing bottom, won't breach 74-mark: TCS' global treasury head

The past month’s worst-performing emerging market currency is nearing a bottom, according to the head of global treasury at Asia’s largest software exporter Tata Consultancy Services Ltd. The Indian rupee has dropped 3 per cent over a month, the biggest slump among 24 emerging markets tracked by Bloomberg. It fell to a new record on Thursday and is inching closer to 74 against the dollar. READ MORE

1:37 PM

359 stocks down over 50% from their 52-week highs

Shares of one out of three companies have fallen more than 50% from their respective 52-week highs after a sharp sell-off in equity markets sparked by macroeconomic concerns around liquidity.
 

As many as 359 stocks out of 1,068 companies from the S&P BSE Allcap index were down more than 50% from their 52-week high levels on the BSE. Another 425 stocks from the index have fallen in the range of 25% to 50%, data shows. The S&P BSE Allcap index accounted for 99% of the total market capitalisation of BSE listed companies. READ MORE

1:23 PM

BSE IT index falls over 3%

COMPANY NAME	LATEST	HIGH	LOW	CHG ( )	CHG(%)	VALUE (  CR)	VOLUME
INFIBEAM AVENUES	66.85	80.00	66.20	-10.25	-13.29	24.13	3610048
TCS	2080.00	2161.00	2063.00	-82.45	-3.81	98.66	474343
FIRSTSOUR.SOLU.	60.15	61.70	59.60	-2.20	-3.53	2.09	347169
INFOSYS	707.00	729.00	705.00	-20.85	-2.86	18.31	258915
ROLTA INDIA	12.70	13.09	12.55	-0.49	-3.71	0.30	238054
3I INFOTECH	3.32	3.39	3.27	-0.05	-1.48	0.07	215711
TECH MAHINDRA	723.10	745.00	712.90	-26.85	-3.58	11.18	154568

1:22 PM

WEB EXCLUSIVE Sensex tanks over 950 points 3 sessions; experts decode market movement 

October has begun on an ominous note for the markets with the S&P BSE Sensex sliding over 950 points, or 2.7 per cent, in just three trading sessions. The fall comes amid a sliding rupee that hit 73.77 to a dollar, rising crude oil prices (Brent hit $85 per barrel) and a possible hike in interest rates by the Reserve Bank of India (RBI) in its upcoming policy review on Friday. That apart, the ongoing developments at IL&FS, YES Bank and housing finance companies dented sentiment in the banking and finance sectors READ MORE HERE

1:16 PM

Essar Steel auction: SC gives ArcelorMittal, NuMetal 2 weeks to clear dues

The Supreme Court on Thursday decided to give one more opportunity to ArcelorMittal and NuMetal to bid for Essar Steel, but only if they both paid off their non-performing dues within two weeks. The court considered the plea of the Committee of Creditors that assets of Essar Steel should not be liquidated and a fresh opportunity should be given to both companies in the fray. READ MORE

1:03 PM

Nitasha Shankar, Sr. Vice President and Head of Research at YES Securities (I) Ltd. on fall in indices 

 

“Indian Markets have been seeing a sharp sell off on account of depreciation in rupee and higher crude prices. This negative sentiment was further reinforced by the fear of liquidity crisis to support credit growth following the IL&FS scare. We believe that the long term story of Indian Markets remains intact. Therefore this fall should be treated as an opportunity to accumulate fundamentally strong companies where valuations have corrected to attractive levels.”