MARKET WRAP: Sensex dips 219 points; Tata Motors, ICICI Bank top losers
Among sectoral indices, the Nifty PSU Bank index ended around 2% lower led by a fall in the shares of Allahabad Bank, Union Bank of India and Canara Bank.
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SMEs at large do not understand forex and the concept of hedging, which banks often exploit. (Photo: iStock)
Benchmark indices ended lower following Asian shares, that got the week off to a cautious start on Monday amid lingering concerns about escalating trade frictions while US oil prices maintained hefty gains made after major oil producers had agreed on a modest increase in production.
The S&P BSE Sensex ended at 35,470, down 219 points while the broader Nifty50 index settled at 10,762, down 59 points. Tata Motors was the top Sensex loser that ended nearly six per cent lower at Rs 290 levels, followed by ICICI Bank, Coal India, Adani Ports and Larsen & Toubro.
Among sectoral indices, the Nifty PSU Bank index ended around 2% lower led by a fall in the shares of Allahabad Bank, Union Bank of India and Canara Bank.
GLOBAL MARKETS
World shares fell on Monday, dented by worries over a worsening trade dispute between the United States and other major economies, while oil prices gave up some of the gains made after major exporters agreed a modest production increase.
S&P500 mini futures fell as much as 0.6 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.95 per cent to 6-1/2-month lows. Japan's Nikkei lost 0.8 per cent.
The S&P BSE Sensex ended at 35,470, down 219 points while the broader Nifty50 index settled at 10,762, down 59 points. Tata Motors was the top Sensex loser that ended nearly six per cent lower at Rs 290 levels, followed by ICICI Bank, Coal India, Adani Ports and Larsen & Toubro.
Among sectoral indices, the Nifty PSU Bank index ended around 2% lower led by a fall in the shares of Allahabad Bank, Union Bank of India and Canara Bank.
GLOBAL MARKETS
World shares fell on Monday, dented by worries over a worsening trade dispute between the United States and other major economies, while oil prices gave up some of the gains made after major exporters agreed a modest production increase.
S&P500 mini futures fell as much as 0.6 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.95 per cent to 6-1/2-month lows. Japan's Nikkei lost 0.8 per cent.
OIL PRICES
Oil shed some of the gains posted on Friday after OPEC and non-OPEC producers agreed a modest increase in production from next month. They did not however announce a clear target for the output hike, leaving traders guessing how much more will actually be pumped.
OPEC and non-OPEC said in a statement they would raise supply by returning to 100 percent compliance with previously agreed output cuts, after months of underproduction.
U.S. crude futures traded at $68.64 per barrel, up 0.1 per cent for the day after Friday's 4.6 percent rally. International benchmark Brent fell 1.2 per cent, however, to $74.61 per barrel, giving up nearly half of its gains made on Friday.
(With Reuters inputs)
3:43 PM
Nifty PSU Bank index ended 2.09% lower today. Top losers:
| COMPANY | LATEST | PREV CLOSE | LOSS() | LOSS(%) |
| ALLAHABAD BANK | 41.40 | 44.90 | -3.50 | -7.80 |
| UNION BANK (I) | 82.35 | 85.75 | -3.40 | -3.97 |
| CANARA BANK | 249.10 | 259.40 | -10.30 | -3.97 |
| BANK OF BARODA | 116.70 | 121.50 | -4.80 | -3.95 |
| ORIENTAL BANK | 75.45 | 78.45 | -3.00 | -3.82 |
3:41 PM
Nifty sectoral losers of the day
3:39 PM
BSE Sensex: Infosys top gainer of the day, Tata Motors, ICICI Bank top losers
3:35 PM
Market at close
The S&P BSE Sensex ended at 35,470, down 219 points while the broader Nifty50 index settled at 10,762, down 59 points.
3:13 PM
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P-note investments dip to over 9-year low in May as Sebi tightens norms
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2:57 PM
Recently listed IPOs
[*] IPO Price unadjusted> More Listed IPOs
| IPO NAME | IPO PRICE() | LATEST PRICE() | LIST DATE |
|---|---|---|---|
| ACCURACY SHIPPI. | 84 | 85.50 | JUN 22,2018 |
| PRITI INTERNATI. | 75 | 84.00 | JUN 21,2018 |
| SHREEOSWAL SEEDS | 26 | 28.10 | JUN 20,2018 |
| NAKODA GROUP | 35 | 36.50 | JUN 06,2018 |
| LATTEYS INDUSTR. | 66 | 58.00 | JUN 05,2018 |
2:50 PM
Stock Idea (Source: HDFC Securities)
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First Published: Jun 25 2018 | 8:15 AM IST