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F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

Among sectoral indices, the Nifty Bank index settled 1.3 per cent lower due to a fall in the shares of YES Bank, which cracked 9 per cent to end at Rs 203.60.

SI Reporter  |  New Delhi 

Markets, Stocks, BSE, NSE
Markets, Stocks, BSE, NSE

The benchmark indices settled over 0.5 per cent lower on Thursday on expiry of September series Futures and Options (F&O) contracts.

The S&P BSE Sensex ended at 36,324, down 218 points, while the broader Nifty50 index settled at 10,978, down 76 points.

Among sectoral indices, the Nifty Bank index settled 1.3 per cent lower due to a fall in the shares of YES Bank, which cracked 9 per cent to end at Rs 203.60.

Shares of select consumer durable companies, too, fell on Thursday, after the government raised import duties on 19 non- essential items, including refrigerators, air conditioners, and jet fuel. Voltas fell over 6 per cent to Rs 536 on the BSE. Havells India settled at Rs 612, over 5 per cent down. Aviation stocks also slipped as the government imposed an import tariff on aviation turbine fuel (ATF).
 
US Federal Reserve hikes rates

The US Federal Reserve raised short-term interest rates by a quarter percentage point or 0.25 per cent in its latest policy meeting, that concluded Wednesday. It was the third rate hike by the US Fed this year and the eighth such move since December 2015.

Global Markets

Global shares struggled in volatile trade on Thursday with Asian markets giving up earlier gains after the Federal Reserve raised interest rates and affirmed plans for more policy tightening through to 2020.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 per cent, reversing from a 0.3 per cent gain earlier in the session. There were, however, pockets of resilience such as South Korea's Kospi, which hit three-month highs, as it resumed trade after a three-day public holiday.

Japan's Nikkei briefly touched an eight-month high as automakers rose after the United States indicated it would not impose further tariffs on Japanese automotive products for now, though it ended down 1 per cent.

(with Reuters inputs)

F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

Nifty Bank index falls 1.3%

F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

Sectoral losers on NSE

F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

BSE Sensex: YES Bank top loser of the day

F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

Market at close   The S&P BSE Sensex ended at 36,324, down 218 points while the broader Nifty50 index settled at 10,978, down 76 points.

F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

Indian realty market to become third largest, touch $1 tn by 2030: Survey Indian real estate market is expected to touch $1 trillion by 2030, becoming the third largest globally, a recent survey said.   According to the survey conducted by KPMG in association withe Naredco and APREA revealed that the sector is estimated to grow to $650 billion by 2025 and surpass $850 billion by 2028 to touch $1 trillion by 2030. READ MORE

F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

Govt, RBI make coordinated policy moves to fight rupee drop, cash crunch India upped the ante in its efforts to restore investor confidence, with the central bank taking measures to ease liquidity for lenders a day after the government raised import tariffs to support the battered rupee.   The Reserve Bank of India allowed banks to dip further into statutory liquidity reserves to help them meet their liquidity coverage ratio needs, a step that would boost cash available for lending. On Wednesday, the government raised import taxes on $12 billion of goods as it seeks to narrow the current-account deficit from a five-year high. READ MORE

F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

MARKET COMMENT Madhavi Arora, Economist, FX & Rates, Edelweiss Securities Markets have been reacting to possible RBI action to defend the currency via the interest rate route and to reckon higher imported inflation pressures ahead amid higher oil prices and INR depreciation.. Of course, recent stress in NBFC space has suddenly led to sharp uptick in money market rates in the last one week, leading to tighter financial conditions in the money market space. However, the sovereign papers have been largely insulted and have been more a function of INR and crude movement. We think RBI will likely follow suit of the EM peers and will likely raise policy rates by 25bps in the upcoming October policy

F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

BSE Smallcap index hits 52-week low; down 13% in September The S&P BSE Smallcap index hit a 52-week low of 15,017, down 1.5% on Thursday in intra-day trade on the back of sharp fall in financials, real estate, constructions, infrastructures, sugar and aviation sector stocks. The index has fallen below its previous low of 15,025 touched on Tuesday, September 25, 2018.   Indiabulls Real Estate, Sadbhav Engineering, Can Fin Homes, JM Financial, Srei Infrastructure Finance, Thangamayil Jewellery, Jet Airways (India), Dhampur Sugar Mills and Avadh Sugar & Energy have fallen more than 5% on the BSE. READ MORE

F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

Soymeal traders see exports surging 70% on Chinese demand, weak rupee India's soymeal exports in 2018/19 could jump as much as 70 per cent from a year ago, buoyed by expected purchases from the world's biggest soybean buyer China, industry officials told Reuters on Thursday.   A depreciation in the rupee and a jump in soybean output will help India gain market share in China, which is looking for new suppliers after imposing tariffs on key US farm commodities as part of a Sino-US trade row, they said. READ MORE

F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

Market Check Index Current Pt. Change % Change   S&P BSE SENSEX 36,333.21 -209.06 -0.57   S&P BSE SENSEX 50 11,477.04 -65.95 -0.57   S&P BSE SENSEX Next 50 32,426.27 -368.06 -1.12   S&P BSE 100 11,223.18 -73.79 -0.65   S&P BSE Bharat 22 Index 3,499.27 -23.73 -0.67 (Source: BSE)

F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

Garden Reach Shipbuilders extends IPO closure by 3 days, revises price band   The IPO received weak response from investors with only 67 per cent of the shares on offer being subscribed on the closing day on Wednesday. READ MORE

First Published: Thu, September 27 2018. 08:24 IST
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F&O expiry: Sensex slips 218 pts; consumer durables crack, YES Bank down 9%

Among sectoral indices, the Nifty Bank index settled 1.3 per cent lower due to a fall in the shares of YES Bank, which cracked 9 per cent to end at Rs 203.60.

The benchmark indices settled over 0.5 per cent lower on Thursday on expiry of September series Futures and Options (F&O) contracts.

The S&P BSE Sensex ended at 36,324, down 218 points, while the broader Nifty50 index settled at 10,978, down 76 points.

Among sectoral indices, the Nifty Bank index settled 1.3 per cent lower due to a fall in the shares of YES Bank, which cracked 9 per cent to end at Rs 203.60.

Shares of select consumer durable companies, too, fell on Thursday, after the government raised import duties on 19 non- essential items, including refrigerators, air conditioners, and jet fuel. Voltas fell over 6 per cent to Rs 536 on the BSE. Havells India settled at Rs 612, over 5 per cent down. Aviation stocks also slipped as the government imposed an import tariff on aviation turbine fuel (ATF).
 
US Federal Reserve hikes rates

The US Federal Reserve raised short-term interest rates by a quarter percentage point or 0.25 per cent in its latest policy meeting, that concluded Wednesday. It was the third rate hike by the US Fed this year and the eighth such move since December 2015.

Global Markets

Global shares struggled in volatile trade on Thursday with Asian markets giving up earlier gains after the Federal Reserve raised interest rates and affirmed plans for more policy tightening through to 2020.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 per cent, reversing from a 0.3 per cent gain earlier in the session. There were, however, pockets of resilience such as South Korea's Kospi, which hit three-month highs, as it resumed trade after a three-day public holiday.

Japan's Nikkei briefly touched an eight-month high as automakers rose after the United States indicated it would not impose further tariffs on Japanese automotive products for now, though it ended down 1 per cent.

(with Reuters inputs)

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