JUST IN
You are here: Home » Markets » News

Investors shift focus to mobile payments, last mile payment firms
Business Standard

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

Among sectoral indices, the Nifty PSU Bank index ended nearly 2% lower led by a fall in the shares of Syndicate Bank, Union Bank of India and Punjab National Bank.

Topics
Market Wrap  |  Nifty  |  Sensex

SI Reporter  |  New Delhi 

The indices ended lower on Thursday led by a fall in the shares of public sector banks and metal stocks amid lack of any strong developments in domestic and global markets. The S&P BSE Sensex ended at 35,432, down 115 points while the broader Nifty50 index settled at 10,741, down 31 points. Among sectoral indices, the Nifty PSU Bank index ended nearly 2% lower led by a fall in the shares of Syndicate Bank, Union Bank of India and Punjab National Bank. Click here to check how metal stocks traded today Shares of Bank of Maharashtra hit a record low of Rs ...

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
199.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Amex/Master/VISA Credit Cards and VISA Debit Cards Only
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

Business Standard Digital
Subscribe Now and get 12 months Free

Business Standard Premium Digital - 12 Months + 12 Months Free
1799.00
subscribe
Subscribe for 12 months and get 12 months free.
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice -all Credit and Debit Cards, Net Banking, Payment Wallets, and UPI
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer's permission we will charge your card/ payment instrument each month automatically and renew your subscription.
  • In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
  • We do not Refund.
  • No Questions asked Cancellation Policy.
  • You can cancel future renewals anytime including immediately upon subscribing but 48 hours before your next renewal date.
  • Subject to the above, self cancel by visiting the "Manage My Account“ section after signing in OR Send an email request to assist@bsmail.in from your registered email address and by quoting your mobile number.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

CATCH ALL THE LIVE UPDATES

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

MARKET COMMENT Mustafa Nadeem, CEO, Epic Research  Indecisiveness, Bank Nifty expiry along with negative global cues saw Nifty drift below 10,800 and lose marginal points to make a 'Bearish belt hold' pattern. A bearish belt hold is a one candle bearish formation which has a Shaven head; The high and Open for the day is identical while the close is just a tad higher from the days low. A shaven head indicates the selling pressure on the upside which persists as it was heavy since the open of the day. A close near to the day low indicates the further bearish sentiment.    It has been the sixth consecutive day where we have seen Nifty trading between the range of 10850. It was bank Nifty weekly expiry that called in writers to take advantage. We expect the market to remain positive while the time may further test the patience of bulls. We maintain the 'buy on a dip' strategy though all eyes will be on the OPEC meet and price of crude oil.   

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

COMMENT Indranil Sen Gupta, economist, AsiaPac, India, Bank of America Merrill Lynch   Dovish Reserve Bank of India (RBI) minutes support our call that the RBI Monetary policy committee (MPC) will be on hold if rains are normal. We would have preferred that the RBI MPC wait out growth/inflation base effects rather than hike rates on 6 June at this stage of recovery. Still, this puts policy uncertainty out of the way. ‎That said, markets do need to calm down and stop wishing rate hikes on itself (and the RBI).  In fact, the retention of neutral stance should indicate that this is not a tightening cycle. 

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

Nifty sectoral losers of the day

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

BSE Sensex: ICICI Bank, Reliance among top gainers of the day, M&M, ONGC top losers

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

Market at close   The S&P BSE Sensex ended at 35,432, down 115 points while the broader Nifty50 index settled at 10,741, down 31 points.

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

Jubilant FoodWorks, Emami turn ex-bonus in ratio of 1:1 Shares of restaurant company Jubilant FoodWorks and personal products firm Emami have turned ex-bonus in the ratio of 1:1 today. The board of directors of Jubilant FoodWorks and Emami at their respective board meetings, have announced issue of bonus shares in the ratio of 1:1 i.e. 1 equity share for every 1 equity share held as on the record date. READ MORE

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

Gold prices drop to six-month low on strong dollar, US rate outlook Gold prices posted a six-month low on Thursday, weighed down by a firm dollar and as the US Federal Reserve Chair kept its outlook for higher interest rates. Spot gold fell 0.4 per cent to $1,262.88 an ounce. It hit its lowest since Dec. 20 at $1,261.36 earlier, having lost about 3 per cent over the last five sessions. READ MORE

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

Manpasand Beverages rebounds from record low; stock tanks 70% in one month   Shares of Manpasand Beverages are locked in upper circuit of 5% at Rs 142 per share, bouncing back 9.5% from their intra-day low on the BSE, after the company said that its board will meet on June 27, to consider audited financial results for the quarter and year ended March 31, 2018 and to recommend dividend.   The stock of the fruit juice maker hit a record low of Rs 129 in intra-day trade earlier today, and has tanked 70% in past one month, as compared to 4.4% rise in the S&P BSE Sensex. The stock hit an all-time high of Rs 512 on September 15, 2017 on the BSE in intra-day deal. READ MORE

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

Crude Update:    Oil prices dipped as Iran signaled it could be won over to a small rise in OPEC crude output, likely paving the road for the producer cartel to agree on a supply increase during a meeting on June 22.   However, prices were prevented from falling further by record refinery runs in the United States and a large decline in US crude inventories, a sign of strong fuel demand in the world's biggest economy.

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

Shares in PNB fall after internal probe finds widespread lapses Shares in India's Punjab National Bank fell as much as 3 percent on Thursday, a day after Reuters reported the bank's internal investigation into its $2 billion fraud had found widespread risk-control and monitoring lapses in many areas of the bank. READ MORE

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

Market Check   S&P BSE Sensex 35,562.21 0.04%   Nifty 50 10,774.05 0.02%   S&P BSE 200 4,651.43 -0.07%   Nifty 500 9,269.15 -0.08%   S&P BSE Mid-Cap 15,822.90 -0.18%   S&P BSE Small-Cap 16,596.01 -0.38%

First Published: Thu, June 21 2018. 08:00 IST

PREVIOUS STORY

NEXT STORY
RECOMMENDED FOR YOU

MARKET WRAP: Sensex ends 115 pts lower, Nifty at 10,741; PSU banks slip

Among sectoral indices, the Nifty PSU Bank index ended nearly 2% lower led by a fall in the shares of Syndicate Bank, Union Bank of India and Punjab National Bank.

The indices ended lower on Thursday led by a fall in the shares of public sector banks and metal stocks amid lack of any strong developments in domestic and global markets. The S&P BSE Sensex ended at 35,432, down 115 points while the broader Nifty50 index settled at 10,741, down 31 points. Among sectoral indices, the Nifty PSU Bank index ended nearly 2% lower led by a fall in the shares of Syndicate Bank, Union Bank of India and Punjab National Bank. Click here to check how metal stocks traded today Shares of Bank of Maharashtra hit a record low of Rs ...

image
Business Standard
177 22
.