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MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

Among sectoral indices, the Nifty FMCG index settled over 2.5 per cent lower weighed by HUL and Britannia Industries.

SI Reporter  |  New Delhi 

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The benchmark indices ended nearly 1 per cent lower on Monday after India's manufacturing growth eased in August on softer domestic demand and on concerns over the escalation of the global trade war.

That apart, the sentiment was impacted by reports that the government and the capital market regulator Sebi are discussing fresh criteria to stop ‘dubious’ money flowing into the country — particularly, in the run up to the 2019 elections. The S&P BSE ended at 38,313, down 333 points while the broader Nifty50 index settled at 11,582, down 98 points.

In individual stocks, fast moving consumer goods giant Hindustan Unilever (HUL) slipped 4.5 per cent to Rs 1,700 levels on the BSE. That apart, shares of private banks such as ICICI Bank and Axis Bank also declined 2.3 per cent and 2.5 per cent, respectively. Car-maker Maruti Suzuki too settled 2.1 per cent lower at Rs 8904.

Among sectoral indices, the FMCG index settled over 2.5 per cent lower weighed by HUL and Britannia Industries.

India's manufacturing growth eases in August

Growth in India's manufacturing sector unexpectedly slowed in August as domestic demand softened, a private business survey showed on Monday.

Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, suggested the activity gauge fell to a three-month low of 51.7 from July's 52.3. READ MORE HERE

Global Markets

Global stock fell for a third straight day on Monday, hurt by worries over the escalation of trade disputes between world powers and a deepening sell-off across emerging market currencies.

European shares mostly opened lower while in Asia, MSCI's broadest index of shares outside Japan and Tokyo's blue-chip Nikkei shed about 0.7 per cent each. A holiday in the United States subdued trading activity.

(with Reuters inputs)

MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

Nifty FMCG index ends 2.44% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) HIND. UNILEVER 1699.10 1780.10 -81.00 -4.55 UNITED SPIRITS 609.65 630.25 -20.60 -3.27 DABUR INDIA 466.35 478.75 -12.40 -2.59 GODREJ INDS. 629.95 646.65 -16.70 -2.58 BRITANNIA INDS. 6565.85 6736.75 -170.90 -2.54

MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

Nifty sectoral losers of the day

MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

BSE Sensex: HUL, Axis Bank among top losers of the day

MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

Market at close The S&P BSE Sensex ended at 38,313, down 333 points while the broader Nifty50 index settled at 11,582, down 98 points.

MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

Vedanta Resources Chairman Anil Agarwal to take company private on Oct 1 Vedanta Resources Plc Chairman Anil Agarwal will take the London-listed miner private on October 1, after the holders of 26 per cent of shares agreed to sell to his family trust Volcan Investments.   Volcan now holds or has received acceptances for 92.31 per cent of Vedanta's shares, it said. READ MORE

MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

Bumper IPO year continues: 11 cos approach Sebi in Aug to raise Rs 70 bn As many as 11 firms, including AGS Transact Technologies and ASK Investment Managers, have approached capital market regulator Sebi in August to raise over Rs 70 billion through IPOs largely to fund their expansion projects and working capital requirement. READ MORE

MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

India manufacturing growth eases in August on softer domestic demand: PMI Growth in India's manufacturing sector unexpectedly slowed in August as domestic demand softened, a private business survey showed on Monday. The activity gauge fell to a three-month low of 51.7 from July's 52.3. Analysts polled by Reuters had expected growth to pick up, forecasting a reading of 52.8. READ MORE

MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

LIC board to meet on Tuesday to decide raising stake in IDBI Bank to 51% The LIC board will meet Tuesday to decide on the modalities for increasing stake in debt-ridden IDBI Bank to 51 per cent, a move that will provide the insurance behemoth entry into the banking space.   The board will discuss timeline for the open offer, board-level appointments and future strategy for revitalising IDBI Bank, sources said. READ MORE

MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

Coffee Board pegs crop loss due to rains in South India at 82,000 tonnes The Coffee Board, under the Ministry of Commerce, has estimated a crop loss of around 82,000 tonnes due to heavy rains in the traditional coffee tracts across South India. Industry representatives, however, believe that these losses may not affect prices -- which are decided on the basis of international demand and supply -- as global supply is already more than the demand at present. READ MORE

MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

Pharma funds make a comeback; now rises 17.3% for a one-year period The rally in pharmaceutical stocks owing to the rupee depreciation and easing regulatory environment in the US has boosted the returns of mutual fund (MF) schemes that invest in this sector. Pharma funds, which had been laggards for many months now, are now up 17.3 per cent for a one-year period, outperforming infrastructure and banking funds that gave returns of 2.3 per cent and 9.8 per cent, respectively, show data from Value Research. READ MORE

MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

Market Check Index Current Pt. Change % Change   S&P BSE SENSEX 38,597.84 -47.23 -0.12   S&P BSE SENSEX 50 12,224.83 -5.98 -0.05   S&P BSE SENSEX Next 50 35,745.65 +88.91 +0.25   S&P BSE 100 12,016.43 -0.54 0.00   S&P BSE Bharat 22 Index 3,748.31 -2.78 -0.07 (Source: BSE)

First Published: Mon, September 03 2018. 08:15 IST
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MARKET WRAP: Sensex dips 333 pts; PMI data, proposed FPI norms spook Street

Among sectoral indices, the Nifty FMCG index settled over 2.5 per cent lower weighed by HUL and Britannia Industries.

The benchmark indices ended nearly 1 per cent lower on Monday after India's manufacturing growth eased in August on softer domestic demand and on concerns over the escalation of the global trade war.

That apart, the sentiment was impacted by reports that the government and the capital market regulator Sebi are discussing fresh criteria to stop ‘dubious’ money flowing into the country — particularly, in the run up to the 2019 elections. The S&P BSE ended at 38,313, down 333 points while the broader Nifty50 index settled at 11,582, down 98 points.

In individual stocks, fast moving consumer goods giant Hindustan Unilever (HUL) slipped 4.5 per cent to Rs 1,700 levels on the BSE. That apart, shares of private banks such as ICICI Bank and Axis Bank also declined 2.3 per cent and 2.5 per cent, respectively. Car-maker Maruti Suzuki too settled 2.1 per cent lower at Rs 8904.

Among sectoral indices, the FMCG index settled over 2.5 per cent lower weighed by HUL and Britannia Industries.

India's manufacturing growth eases in August

Growth in India's manufacturing sector unexpectedly slowed in August as domestic demand softened, a private business survey showed on Monday.

Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, suggested the activity gauge fell to a three-month low of 51.7 from July's 52.3. READ MORE HERE

Global Markets

Global stock fell for a third straight day on Monday, hurt by worries over the escalation of trade disputes between world powers and a deepening sell-off across emerging market currencies.

European shares mostly opened lower while in Asia, MSCI's broadest index of shares outside Japan and Tokyo's blue-chip Nikkei shed about 0.7 per cent each. A holiday in the United States subdued trading activity.

(with Reuters inputs)

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