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August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

Among sectoral indices, the Nifty Auto index settled nearly 0.5 per cent lower due to a fall in share prices of Maruti Suzuki and Eicher Motors.

SI Reporter  |  New Delhi 

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The benchmark indices ended flat on Thursday on expiry of August Futures and Options (F&O) contracts.

The sentiment was also affected during the day after the rupee hit record low of Rs 70.82 against US dollar, making it the worst performing Asian currency in calendar year 2018 (CY18).

The S&P BSE ended at 38,690, down 33 points while the broader Nifty50 index settled at 11,677, down 15 points. Going ahead, investors will look forward to the June-quarter data to be announced on August 31. For the quarter ended March 31, the growth rate stood at 7.7 per cent. 

Among sectoral indices, the Auto index settled nearly 0.5 per cent lower on Thursday due to a fall in share prices of Maruti Suzuki and Eicher Motors. The Bank index, too, slipped over 0.4 per cent led by fall in shares of private banks -- RBL Bank, IndusInd Bank, and Yes Bank. Reliance Industries (RIL) ended 1.6 per cent lower at Rs 1,274 on the BSE. 

Rupee sinks to 70.82 per dollar

Continuing its free-fall, the rupee today weakened by another 23 paise against the dollar to trade at a lifetime low of 70.82 on strong month-end demand for the US currency amid sustained foreign fund outflows.

Reliance ADAG stocks in focus

Shares of Anil Ambani led Reliance Group (ADAG) companies were trading higher for the second straight day on the back of heavy volumes in an otherwise subdued market. Reliance Infrastructure, Reliance Power and Reliance Capital were up in the range of 3% to 6% on the BSE. READ MORE HERE

Global Markets

Asian stocks handed back earlier gains and fell on Thursday, with Chinese fixed firmly on risks from the China-US trade war and taking little comfort from an apparent easing in business tensions in North America and Europe.

The leaders of the United States and Canada expressed optimism on Wednesday that NAFTA negotiations would meet a Friday deadline for a deal, days after the US and Mexico reached a bilateral agreement.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.3 per cent, with broad gains across the region offset by losses in China. The Shanghai Composite Index slid 0.9 per cent and Hong Kong's Hang Seng fell 0.8 per cent.

Japan's Nikkei initially touched three-month high following gains on Wall Street but pared gains and was last up a modest 0.05 per cent. South Korea's KOSPI was a shade lower.

(With inputs from Reuters)

August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

MARKET COMMENT Jayant Manglik, President, Religare Broking Nifty ended flat amid volatility on the F&O expiry day, while rollover and unwinding of derivatives positions kept the participants busy. In line with the benchmark index, sectoral indices also remained volatile and ended mixed. We expect consolidation in Nifty ahead. However, there'll be no shortage of opportunities on stock-specific front. In absence of any major event on domestic front, global cues would dictate the market trend in near future. Traders should continue with stock-specific trading approach and prefer banks, auto and pharma for fresh buying.

August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

Nifty sectoral gainers and losers of the day

August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

BSE Sensex: RIL, Maruti Suzuki, IndusInd Bank among top losers of the day

August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

Market at close The S&P BSE Sensex ended at 38,690, down 33 points while the broader Nifty50 index settled at 11,677, down 15 points.

August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

ITI surges 20% on work order win of Rs 66.34 billion from BSNL Shares of ITI surged 20% to Rs 112 on the BSE after the company said it has received an advance work order (AWO) worth of Rs 66.34 billon from BSNL. READ MORE

August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

Broadband, OTT challenge for media companies; Cable firms to be hit most The Nifty Media is the second worst performing index among sectoral indices at the National Stock Exchange (NSE), falling nine per cent over the past year. In comparison, the general benchmark Nifty 50, trading at all-time highs, has gained 18 per cent during the period. READ MORE

August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

Kotak Institutional Equities maintains SELL on Reliance Industries Our reverse valuation exercise suggests that investors have not only priced in a robust energy segment performance in RIL’s current valuations, but also ascribed the EV of leading players in key sectors that are being targeted by RIL’s platform narrative—Bharti’s India business (telecom), Avenue Supermarts (retail), Flipkart (e-commerce) and key players in the media sector (content ecosystem). The recent sharp rally leaves limited scope for disappointment on that narrative, which may not be ruled out given well-funded competition in key segments. Reiterate SELL. RIL is valued at $91 billion (Rs 6 lakh crore)

August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

Gold edges down as rate hike views dent appeal Gold prices inched lower on Thursday as the dollar firmed amid expectations of higher US interest rates, but the precious metal continued to hold above a key support level of $1,200.   Spot gold was down 0.4 per cent at $1,202.02 an ounce, while US gold futures were down 0.3 per cent at $1,207.80 an ounce. READ MORE

August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

Bosch hits over 10-month high; stock surges 16% in two days Shares of Bosch hit an over 10-month high of Rs 21,881, up 9% on Thursday in intra-day trade, extending its Wednesday’s 6.5% rally on the BSE in an otherwise subdued market. READ MORE

August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

IL&FS group plans to shed 37% debt, board approves asset divestment plan Faced with overleverage and tight liquidity conditions, the IL&FS group has firmed up plans to shed its debt by 37.5 per cent, or by Rs 300 billion, to Rs 500 billion by divesting 25 projects over 12-18 months. The board of directors has approved the specific asset divestment plan, the company said. Two-third of debt will be from IL&FS Transportation Network Ltd (ITNL). READ MORE

August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

Market Check Index Current Pt. Change % Change   S&P BSE SENSEX 38,643.17 -79.76 -0.21   S&P BSE SENSEX 50 12,216.34 -24.25 -0.20   S&P BSE SENSEX Next 50 35,511.14 +164.10 +0.46   S&P BSE 100 11,997.48 -11.66 -0.10   S&P BSE Bharat 22 Index 3,736.26 +18.04 +0.49 (Source: BSE)

First Published: Thu, August 30 2018. 08:15 IST
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August F&O expiry: Sensex slips 33 pts; ADAG stocks rally, Rupee at 70.82/$

Among sectoral indices, the Nifty Auto index settled nearly 0.5 per cent lower due to a fall in share prices of Maruti Suzuki and Eicher Motors.

The benchmark indices ended flat on Thursday on expiry of August Futures and Options (F&O) contracts.

The sentiment was also affected during the day after the rupee hit record low of Rs 70.82 against US dollar, making it the worst performing Asian currency in calendar year 2018 (CY18).

The S&P BSE ended at 38,690, down 33 points while the broader Nifty50 index settled at 11,677, down 15 points. Going ahead, investors will look forward to the June-quarter data to be announced on August 31. For the quarter ended March 31, the growth rate stood at 7.7 per cent. 

Among sectoral indices, the Auto index settled nearly 0.5 per cent lower on Thursday due to a fall in share prices of Maruti Suzuki and Eicher Motors. The Bank index, too, slipped over 0.4 per cent led by fall in shares of private banks -- RBL Bank, IndusInd Bank, and Yes Bank. Reliance Industries (RIL) ended 1.6 per cent lower at Rs 1,274 on the BSE. 

Rupee sinks to 70.82 per dollar

Continuing its free-fall, the rupee today weakened by another 23 paise against the dollar to trade at a lifetime low of 70.82 on strong month-end demand for the US currency amid sustained foreign fund outflows.

Reliance ADAG stocks in focus

Shares of Anil Ambani led Reliance Group (ADAG) companies were trading higher for the second straight day on the back of heavy volumes in an otherwise subdued market. Reliance Infrastructure, Reliance Power and Reliance Capital were up in the range of 3% to 6% on the BSE. READ MORE HERE

Global Markets

Asian stocks handed back earlier gains and fell on Thursday, with Chinese fixed firmly on risks from the China-US trade war and taking little comfort from an apparent easing in business tensions in North America and Europe.

The leaders of the United States and Canada expressed optimism on Wednesday that NAFTA negotiations would meet a Friday deadline for a deal, days after the US and Mexico reached a bilateral agreement.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.3 per cent, with broad gains across the region offset by losses in China. The Shanghai Composite Index slid 0.9 per cent and Hong Kong's Hang Seng fell 0.8 per cent.

Japan's Nikkei initially touched three-month high following gains on Wall Street but pared gains and was last up a modest 0.05 per cent. South Korea's KOSPI was a shade lower.

(With inputs from Reuters)

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