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.
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The benchmark indices settled lower on Thursday led by a fall in the financial stocks after the rupee hit a record low of 70.32 per dollar.
The S&P BSE Sensex 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 Sensex.
The S&P BSE Sensex 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 Sensex.
Among sectoral indices, the Nifty 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 Nifty Bank index also ended lower, slipping 0.70 per cent lower weighed by Bank of Baroda and Yes Bank.
Rupee hits new low
The rupee 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.
Rupee hits new low
The rupee 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 China kept most markets 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.
China 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)
3:41 PM
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 |
3:38 PM
Nifty sectoral gainers and losers of the day
3:35 PM
BSE Sensex: HDFC, Vedanta among top losers of the day, Sun Pharma top gainer
3:33 PM
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.
The S&P BSE Sensex ended at 37,664, down 188 points while the broader Nifty50 index settled at 11,385, down 50 points.
3:18 PM
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
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
3:07 PM
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2:59 PM
Falling rupee returning to natural value, no reason to worry: Niti Aayog VC
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2:44 PM
IT shares rally; Sonata Software, Zensar Technologies up over 10%
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IT shares are trading higher for the fourth straight day due to persisting weakness in the rupee.The Indian rupee hit record low of 70.32 per dollar on Thursday. READ MORE
2:30 PM
Base metals slide on global cues, sluggish demand
Base metal prices fell by up to Rs 3 per kg at the non-ferrous metals market today, tracking a weak trend overseas amid easing demand from consuming industries.
Traders said sentiment dampened after Shanghai base metals dropped sharply today, with copper and zinc plumbing fresh one-year lows after a broad sell-off in London in the previous session before bouncing back slightly on the news of fresh U.S.-China trade talks. READ MORE
Copper
2:17 PM
Why retail investors should diversify their portfolio and limit risky bets
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First Published: Aug 16 2018 | 8:15 AM IST