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MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

Among the sectoral indices, the Nifty Bank index fell 0.61 per cent weighed by HDFC Bank and State Bank of India (SBI)

SI Reporter  |  New Delhi 

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A share broker monitors market fluctuation

The benchmark ended lower on Tuesday ahead of the outcome of the Reserve Bank of India's (RBI) monetary policy meeting, which is due on Wednesday.

The three-day review meeting by the central bank began on Monday. Analysts expect RBI to support an economy that is losing momentum by leaving interest rates unchanged. In a sharp contrast, barely a month ago most economists and market experts were expecting a rate hike by the central bank. READ MORE

The S&P ended at 36,134, down 107 points or 0.29 per cent, while the broader Nifty50 index settled at 10,869, down 14 points or 0.13 per cent.

Among the sectoral indices, the Bank index fell 0.61 per cent weighed by HDFC Bank and State Bank of India (SBI). The FMCG index, too, slipped 0.65 per cent led by a fall in Colgate Palmolive (India) and However, IT index rose 1.76 per cent led by Infosys, Wipro and Tata Consultancy Services (TCS).

In the broader market, S&P Midcap index ended largely flat at 15,098, while S&P Smallcap index settled a tad up at 14,514.

The rupee moved in a range of 70.32-70.67 per dollar during the day. It had opened 3 paise lower at 70.49 against the greenback. The domestic unit Monday had dropped by 88 paise, its biggest single-day loss in more than three months, to close at 70.46 against the US currency as oil prices rebounded and the US currency gained strength.

Global Markets

Asian fell on Tuesday as a relief rally petered out amid rising doubts over whether China and the United States will be able to resolve trade differences.

MSCI’s broadest index of Asia-Pacific outside Japan fell 0.3 per cent as Chinese equity struggled to move out of negative territory.

Chinese blue-chip in Shenzhen and Shanghai were slightly weaker, and the benchmark Shanghai Composite index edged barely higher. Shares in Hong Kong lost 0.3 per cent. Australia shares gave up 0.8 per cent and Seoul’s Kospi fell 0.6 per cent, while Japan’s Nikkei stock index was 1.3 per cent lower.

Oil Prices

Oil prices rose on Tuesday, extending strong gains from the previous day amid expected OPEC-led supply cuts and a mandated reduction in Canadian output.

US West Texas Intermediate (WTI) crude futures were at $53.35 per barrel, up 40 cents, or 0.8 per cent, from their last close. International Brent crude oil futures were up 40 cents, or 0.7 per cent, at $62.09 per barrel.

(with wire inputs)

MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

Top sectoral gainers and losers on NSE

MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

S&P BSE Sensex: Top gainers and losers

MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

Market at close   The S&P BSE Sensex shed 107 points to settle at 36,134 while NSE's Nifty50 index dropped 14 points to end at 10,870.

MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

Sun Pharma extends fall despite clarification on corporate governance issue Shares of Sun Pharmaceutical Industries moved down by 3% to Rs 442 per share, falling 5% from their early morning high of Rs 465 apiece on BSE, even though the company made a clarification related to corporate governance and whistleblower issues. The stock had ended 7.5% lower at Rs 455 yesterday.   It was trading close to its 52-week low price of Rs 435 touched on May 22, 2018, in the intra-day trade. READ MORE

MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

India seen holding rates steady as inflation, growth soften   Analysts expect the Reserve Bank of India (RBI) to support an economy that is losing momentum by leaving interest rates unchanged at a policy meeting on Wednesday, when just over a month ago most of them had predicted a hike. Read more  

MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

S&P BSE Oil and Gas index up over 1%

MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

Stocks that hit 52-week low on BSE500 COMPANY LATEST 52 WK LOW PREV LOW PREV DATE VOLUME HSIL 204.70 200.60 202.00 03-DEC-2018 5612 IL&FS TRANSPORT 14.20 14.20 14.90 03-DEC-2018 44994 NAVKAR CORPORAT. 59.40 58.00 58.00 03-DEC-2018 4239 SHANKARA BUILD. 563.55 563.55 626.15 03-DEC-2018 436251 SPARC 242.55 240.00 245.65 03-DEC-2018 45352 TEXMACO RAIL 54.35 53.75 54.00 08-OCT-2018 50112 TIME TECHNOPLAST 102.45 102.00 104.55 03-DEC-2018 7793  

MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

Sebi extends deadline for transfer of shares in demat form to April 1   Market regulator Sebi on Monday extended the deadline for transfer of shares of listed companies only in demat form to April 1. The last date has been extended after taking into consideration representations from shareholders as the initial deadline was to end on December 5. Shares in the demat form will maintain a transparent record of shareholding at firms amid rising concerns over beneficial ownership of entities In March, Sebi's board decided that except in case of transmission or transposition of securities, requests for effecting transfer of securities will not be processed unless the securities are held in dematerialised form with a depository. Read more

MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

Domestic ETF assets jump 10-fold at Rs 895 billion in the past three years   The assets under management (AUM) of exchange-traded funds (ETFs) — both equity and debt — has seen a tenfold jump in the past three years. At the end of October, equity and debt ETF AUM in India stood at Rs 895 billion. Three years ago, it stood at Rs89 billion. Global ETF AUM recently crossed the $5-trillion mark. Read more

MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

Market check Index Current Pt. Change % Change   S&P BSE SENSEX 36,164.28 -76.72 -0.21   S&P BSE SENSEX 50 11,381.20 -8.57 -0.08   S&P BSE SENSEX Next 50 32,318.47 -24.91 -0.08   S&P BSE 100 11,138.03 -8.17 -0.07   S&P BSE Bharat 22 Index 3,434.04 +4.06 +0.12

MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

Sebi panel plans to allow direct listing of Indian cos on overseas bourses   A high-level panel on Tuesday recommended market regulator Sebi to allow direct listing of Indian companies on overseas bourses and of foreign firms on Indian exchanges. Currently, Indian companies can list their shares through depository receipts abroad, while foreign companies need to go through the Indian Depository Receipt route for listing of equities. Read more

First Published: Tue, December 04 2018. 08:15 IST
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MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

Among the sectoral indices, the Nifty Bank index fell 0.61 per cent weighed by HDFC Bank and State Bank of India (SBI)

The benchmark ended lower on Tuesday ahead of the outcome of the Reserve Bank of India's (RBI) monetary policy meeting, which is due on Wednesday.

The three-day review meeting by the central bank began on Monday. Analysts expect RBI to support an economy that is losing momentum by leaving interest rates unchanged. In a sharp contrast, barely a month ago most economists and market experts were expecting a rate hike by the central bank. READ MORE

The S&P ended at 36,134, down 107 points or 0.29 per cent, while the broader Nifty50 index settled at 10,869, down 14 points or 0.13 per cent.

Among the sectoral indices, the Bank index fell 0.61 per cent weighed by HDFC Bank and State Bank of India (SBI). The FMCG index, too, slipped 0.65 per cent led by a fall in Colgate Palmolive (India) and However, IT index rose 1.76 per cent led by Infosys, Wipro and Tata Consultancy Services (TCS).

In the broader market, S&P Midcap index ended largely flat at 15,098, while S&P Smallcap index settled a tad up at 14,514.

The rupee moved in a range of 70.32-70.67 per dollar during the day. It had opened 3 paise lower at 70.49 against the greenback. The domestic unit Monday had dropped by 88 paise, its biggest single-day loss in more than three months, to close at 70.46 against the US currency as oil prices rebounded and the US currency gained strength.

Global Markets

Asian fell on Tuesday as a relief rally petered out amid rising doubts over whether China and the United States will be able to resolve trade differences.

MSCI’s broadest index of Asia-Pacific outside Japan fell 0.3 per cent as Chinese equity struggled to move out of negative territory.

Chinese blue-chip in Shenzhen and Shanghai were slightly weaker, and the benchmark Shanghai Composite index edged barely higher. Shares in Hong Kong lost 0.3 per cent. Australia shares gave up 0.8 per cent and Seoul’s Kospi fell 0.6 per cent, while Japan’s Nikkei stock index was 1.3 per cent lower.

Oil Prices

Oil prices rose on Tuesday, extending strong gains from the previous day amid expected OPEC-led supply cuts and a mandated reduction in Canadian output.

US West Texas Intermediate (WTI) crude futures were at $53.35 per barrel, up 40 cents, or 0.8 per cent, from their last close. International Brent crude oil futures were up 40 cents, or 0.7 per cent, at $62.09 per barrel.

(with wire inputs)

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