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MARKET WRAP: Indices slip as financials weigh; Rupee hits new low of 70.3/$

The Nifty Bank index ended lower, slipping 0.70 per cent lower weighed by Bank of Baroda and Yes Bank.

SI Reporter  |  New Delhi 

markets, stocks

Nifty Metal index ends 2.27% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) JINDAL STEEL 191.85 199.50 -7.65 -3.83 S A I L 74.45 77.40 -2.95 -3.81 JSW STEEL 328.15 341.10 -12.95 -3.80 HIND.ZINC 276.05 285.15 -9.10 -3.19 NATL. ALUMINIUM 68.10 70.25 -2.15 -3.06 Nifty sectoral gainers and losers of the day BSE Sensex: HDFC, Vedanta among top losers of the day, Sun Pharma top gainer Markets at close The S&P BSE Sensex ended at 37,664, down 188 points while the broader Nifty50 index settled at 11,385, down 50 points. Gold recovers from 19-month low as US dollar softens Gold clawed back from a 19-month low on Thursday on short-covering and as the U.S. dollar softened following news that Beijing will hold trade talks with Washington late this month. Spot gold was up 0.1 per cent at $1,175.07 an ounce. US gold futures were, however, down 0.2 per cent at $1,182.1. READ MORE Japan, South Korea steel exports to India surge on tariffs, high-end demand India is being hit by a wave of steel from producers in Japan and South Korea, a government document showed, as mills there redirect supply after U.S. President Donald Trump slapped an import duty on the alloy earlier this year.   During the first quarter of the fiscal year starting in April, India's steel imports from South Korea rose 31 percent from a year earlier, while those from Japan climbed 30 percent, according to an internal document from the Ministry of Steel. READ MORE  

The benchmark indices settled lower on Thursday led by a fall in the financial stocks after the hit a record low of 70.32 per dollar.

The S&P BSE ended at 37,664, down 188 points while the broader Nifty50 index settled at 11,385, down 50 points.

HDFC, HDFC Bank, Vedanta, Tata Steel and Reliance Industries (RIL) were among the major losers in the S&P BSE

Among sectoral indices, the Metal index was among top loser of the day, falling 2.27 per cent due to fall in Jindal Steel & Power and Steel Authority of India. The Bank index also ended lower, slipping 0.70 per cent lower weighed by Bank of Baroda and Yes Bank.

hits new low

The on Thursday slumped 43 paise against the dollar to trade at a life-time low of 70.32 on strong demand for the US currency.

Investor sentiment got affected by a widening trade deficit on the domestic front and the broad rise in the US dollar versus other Asian peers.

Global Markets

Asian shares pulled away from one-year lows on Thursday, after Beijing said it will hold trade talks with Washington this month, although Turkey’s currency crisis and fears of an economic slowdown in kept most in the red.

MSCI’s broadest index of Asia-Pacific shares outside Japan stood down 0.3 per cent, after shedding as much as 1.1 per cent to hit its lowest since Aug. 11, 2017, while Japan's Nikkei swung into positive territory, up 0.2 per cent on the day.

on Thursday said a delegation led by its vice commerce minister would travel to the United States for talks in late August at the invitation of Washington.

That helped Chinese stocks pare losses, with the Shanghai Composite Index and Hong Kong's Hang Seng index both down 0.4 per cent, having earlier fallen as much as 1.9 per cent and 1.7 per cent, respectively.

(with wire inputs)
 

First Published: Thu, August 16 2018. 08:15 IST
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MARKET WRAP: Indices slip as financials weigh; Rupee hits new low of 70.3/$

The Nifty Bank index ended lower, slipping 0.70 per cent lower weighed by Bank of Baroda and Yes Bank.

The benchmark indices settled lower on Thursday led by a fall in the financial stocks after the hit a record low of 70.32 per dollar.

The S&P BSE ended at 37,664, down 188 points while the broader Nifty50 index settled at 11,385, down 50 points.

HDFC, HDFC Bank, Vedanta, Tata Steel and Reliance Industries (RIL) were among the major losers in the S&P BSE

Among sectoral indices, the Metal index was among top loser of the day, falling 2.27 per cent due to fall in Jindal Steel & Power and Steel Authority of India. The Bank index also ended lower, slipping 0.70 per cent lower weighed by Bank of Baroda and Yes Bank.

hits new low

The on Thursday slumped 43 paise against the dollar to trade at a life-time low of 70.32 on strong demand for the US currency.

Investor sentiment got affected by a widening trade deficit on the domestic front and the broad rise in the US dollar versus other Asian peers.

Global Markets

Asian shares pulled away from one-year lows on Thursday, after Beijing said it will hold trade talks with Washington this month, although Turkey’s currency crisis and fears of an economic slowdown in kept most in the red.

MSCI’s broadest index of Asia-Pacific shares outside Japan stood down 0.3 per cent, after shedding as much as 1.1 per cent to hit its lowest since Aug. 11, 2017, while Japan's Nikkei swung into positive territory, up 0.2 per cent on the day.

on Thursday said a delegation led by its vice commerce minister would travel to the United States for talks in late August at the invitation of Washington.

That helped Chinese stocks pare losses, with the Shanghai Composite Index and Hong Kong's Hang Seng index both down 0.4 per cent, having earlier fallen as much as 1.9 per cent and 1.7 per cent, respectively.

(with wire inputs)
 

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