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MARKET WRAP: Sensex ends 140 pts down, FMCG stocks slip; Rupee hits new low

In sectors, the Nifty FMCG index slipped 0.9 per cent, weighed by fall in Godrej Consumer Products and Hindustan Unilever (HUL), which lost 2.7 per cent to end the day at Rs 1,606 levels.

SI Reporter  |  New Delhi 

Markets, Stocks, BSE, NSE
Markets, Stocks, BSE, NSE

Nifty FMCG index ends 0.87% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) GODREJ CONSUMER 1350.05 1399.15 -49.10 -3.51 GLAXOSMITH C H L 7250.10 7499.45 -249.35 -3.32 HIND. UNILEVER 1606.25 1651.20 -44.95 -2.72 BRITANNIA INDS. 6196.50 6344.05 -147.55 -2.33 GODREJ INDS. 603.00 612.15 -9.15 -1.49 Nifty sectoral gainers and losers of the day BSE Sensex: HUL, RIL among top losers of the day, YES Bank top gainer Market at close The S&P BSE Sensex ended at 38,018, down 140 points while the broader Nifty50 index settled at 11,477, down 43 points. Reliance Infra rallies 6% as CRISIL changes ratings for NCDs Shares of Reliance Infrastructure have moved 6% higher to Rs 479 on the BSE, after the company said the rating agency Crisil withdrawn its ‘D’ rating for non-convertible debentures (NCDs) worth of Rs 7.10 billion.   The company has repaid the NCDs from the funds received from the sale of Integrated Mumbai Distribution Business to Adani Transmission. READ MORE Financial crisis explained: How greedy US banks crippled world economy It has been 10 years since the Lehman Brothers shut shop. People who faced the global recession at that time say it was not their fault and still had to leave their homes. The housing market in the USA crashed and the whole world's economy went for a toss. Three million people in the US lost their jobs and five million lost their homes. But, how did it all happen? READ HERE Lehman Brothers (Photo: Reuters)

The benchmark indices settled lower as investors stayed cautious due to sliding rupee, surging bond yields, and oil prices.

The S&P BSE Sensex ended at 38,018, down 140 points while the broader Nifty50 index settled at 11,477, down 43 points.

Earlier in the day, the rupee pared its initial gains to drop to a fresh all-time low of 71.97 against the US dollar in intra-day deals.

Among key stocks, Reliance Industries (RIL) fell around 1.5 per cent at Rs 1,224 levels and was among the top Sensex losers.

FMCG stocks weak

In sectors, the Nifty FMCG index slipped 0.9 per cent, weighed by fall in Godrej Consumer Products and Hindustan Unilever (HUL), which lost 2.7 per cent to end the day at Rs 1,606 levels.

While most analysts believe the fundamentals of FMCG stocks continue to be strong, the concern is largely on absolute valuations and the premium the sector gets, as compared to the broader markets. READ MORE HERE

 
India's services growth slows in August

India's dominant services sector expanded at a slower pace last month than in July as weaker demand and rising input costs kept a lid on hiring, a private survey showed on Wednesday.

The Nikkei/IHS Markit Services Purchasing Managers' Index (PMI) declined to 51.5 in August from a 21-month high of 54.2 in July.

Global Markets
 
Stock markets fell in Asia on Wednesday and the safe-haven dollar hovered near a two-week high as heightened worries over international trade conflicts and emerging market weakness curbed investors' appetite for riskier assets.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 1 per cent, hitting a two-week trough. Japan's Nikkei shed 0.25 per cent. The Shanghai Composite Index retreated 0.9 per cent, weighed down by expectations the United States will impose more tariffs on Chinese goods this month, adding to pressure on China's cooling economy.

(with wire inputs)


First Published: Wed, September 05 2018. 08:15 IST
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MARKET WRAP: Sensex ends 140 pts down, FMCG stocks slip; Rupee hits new low

In sectors, the Nifty FMCG index slipped 0.9 per cent, weighed by fall in Godrej Consumer Products and Hindustan Unilever (HUL), which lost 2.7 per cent to end the day at Rs 1,606 levels.

The benchmark indices settled lower as investors stayed cautious due to sliding rupee, surging bond yields, and oil prices.

The S&P BSE Sensex ended at 38,018, down 140 points while the broader Nifty50 index settled at 11,477, down 43 points.

Earlier in the day, the rupee pared its initial gains to drop to a fresh all-time low of 71.97 against the US dollar in intra-day deals.

Among key stocks, Reliance Industries (RIL) fell around 1.5 per cent at Rs 1,224 levels and was among the top Sensex losers.

FMCG stocks weak

In sectors, the Nifty FMCG index slipped 0.9 per cent, weighed by fall in Godrej Consumer Products and Hindustan Unilever (HUL), which lost 2.7 per cent to end the day at Rs 1,606 levels.

While most analysts believe the fundamentals of FMCG stocks continue to be strong, the concern is largely on absolute valuations and the premium the sector gets, as compared to the broader markets. READ MORE HERE

 
India's services growth slows in August

India's dominant services sector expanded at a slower pace last month than in July as weaker demand and rising input costs kept a lid on hiring, a private survey showed on Wednesday.

The Nikkei/IHS Markit Services Purchasing Managers' Index (PMI) declined to 51.5 in August from a 21-month high of 54.2 in July.

Global Markets
 
Stock markets fell in Asia on Wednesday and the safe-haven dollar hovered near a two-week high as heightened worries over international trade conflicts and emerging market weakness curbed investors' appetite for riskier assets.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 1 per cent, hitting a two-week trough. Japan's Nikkei shed 0.25 per cent. The Shanghai Composite Index retreated 0.9 per cent, weighed down by expectations the United States will impose more tariffs on Chinese goods this month, adding to pressure on China's cooling economy.

(with wire inputs)


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