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MARKET WRAP: Sensex falls 216 pts, Nifty fails to hold 10650; banks drag

Benchmark indices ended lower on global correction and weaker rupee

SI Reporter  |  New Delhi 

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Nifty Bank index ends 1.35% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) PUNJAB NATL.BANK 85.50 88.70 -3.20 -3.61 BANK OF BARODA 140.30 145.40 -5.10 -3.51 ICICI BANK 289.75 299.25 -9.50 -3.17 ST BK OF INDIA 263.65 272.05 -8.40 -3.09 IDFC BANK 40.95 42.10 -1.15 -2.73 Nifty sectoral gainers and losers BSE Sensex gainers and losers of the day Market at close   The S&P BSE Sensex ended at 34,949, down 216 points while the broader Nifty50 index settled at 10,633, down 55 points. Sebi begins probe into technical glitches at MCX, NSE's NOW Markets regulator Sebi has begun initial probe into technical problem with MCX's trading system and "disruption" in NSE's web-based tool NOW, senior officials said.   The National Stock Exchange (NSE) on May 24 witnessed a "disruption" in its web-based tool NOW, which allows traders to use their own software and hardware for trading on the bourse. READ MORE D-Mart, Varun Beverages, Radico Khaitan, Edelweiss Financial hit new highs Shares of Avenue Supermarts that runs the D-Mart retail stores, Radico Khaitan, Varun Beverages, Edelweiss Financial Services, Biocon, Hexaware Technologies, Kotak Mahindra Bank and MM Forgings were among 13 stocks from the S&P BSE 500 and Smallcap index that hit new high on the BSE in otherwise range-bound market. READ MORE  

Benchmark indices
ended lower with the falling over  200 points on global correction and weaker

The S&P ended at 34,949, down 216 points while the broader Nifty50 index settled at 10,633, down 55 points

Banking & financials pulled the lower with the Bank Index slipping as much as 1.3% after three straight sessions of gain, with ICICI Bank and SBI shedding 3% each. 
 
Among indivisual stocks, M&M rose 3% after the company's March quarter beat analyst expectations as profit grew by 50% year-on-year to Rs 11.55 billion and revenue increased 25.6% to Rs 131.89 billion during the quarter.

RUPEE

The extended fall in afternoon, depreciating 50 paise to Rs 67.94 against the US dollar on fresh demand for the greenback from importers and banks.

GLOBAL MARKETS

A deepening political crisis in Italy provoked a second day of heavy selling on European financial markets, with the euro cut to a 6-1/2 month low, punished and short-term borrowing costs surging for the government in Rome.

Asia flinched too. Japan’s Nikkei slipped 0.6%. Chinese were in the red, too, with the blue-chip index down 0.6% and Hong Kong’s Hang Seng index off 0.7%. 

CRUDE OIL PRICES
 
remained under pressure from expectations that Saudi Arabia and Russia would pump more crude to ease a potential shortfall in supply.

US crude futures tumbled to six-week lows and looked set for a fifth straight day of declines. The July contract was last down 1.6% at $66.81 a barrel.

(with Reuters inputs)

First Published: Tue, May 29 2018. 15:30 IST
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MARKET WRAP: Sensex falls 216 pts, Nifty fails to hold 10650; banks drag

Benchmark indices ended lower on global correction and weaker rupee

Benchmark indices
ended lower with the falling over  200 points on global correction and weaker

The S&P ended at 34,949, down 216 points while the broader Nifty50 index settled at 10,633, down 55 points

Banking & financials pulled the lower with the Bank Index slipping as much as 1.3% after three straight sessions of gain, with ICICI Bank and SBI shedding 3% each. 
 
Among indivisual stocks, M&M rose 3% after the company's March quarter beat analyst expectations as profit grew by 50% year-on-year to Rs 11.55 billion and revenue increased 25.6% to Rs 131.89 billion during the quarter.

RUPEE

The extended fall in afternoon, depreciating 50 paise to Rs 67.94 against the US dollar on fresh demand for the greenback from importers and banks.

GLOBAL MARKETS

A deepening political crisis in Italy provoked a second day of heavy selling on European financial markets, with the euro cut to a 6-1/2 month low, punished and short-term borrowing costs surging for the government in Rome.

Asia flinched too. Japan’s Nikkei slipped 0.6%. Chinese were in the red, too, with the blue-chip index down 0.6% and Hong Kong’s Hang Seng index off 0.7%. 

CRUDE OIL PRICES
 
remained under pressure from expectations that Saudi Arabia and Russia would pump more crude to ease a potential shortfall in supply.

US crude futures tumbled to six-week lows and looked set for a fifth straight day of declines. The July contract was last down 1.6% at $66.81 a barrel.

(with Reuters inputs)

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