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MARKET WRAP: Sensex ends 273 pts lower, Nifty at 10,671; PSU banks decline

Among sectoral indices, the Nifty PSU Bank index ended 2.4% lower led by a fall in the shares of IDBI Bank, Syndicate Bank and Bank of India.

SI Reporter  |  New Delhi 

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Top losers in BSE Oil & Gas: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) B P C L 383.65 417.20 -33.55 -8.04 H P C L 277.05 299.35 -22.30 -7.45 I O C L 156.25 166.55 -10.30 -6.18 GAIL (INDIA) 323.60 342.85 -19.25 -5.61 INDRAPRASTHA GAS 253.05 262.10 -9.05 -3.45 Nifty PSU Banks ended 2.43% lower today. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) IDBI BANK 50.70 54.45 -3.75 -6.89 SYNDICATE BANK 41.00 43.75 -2.75 -6.29 ANDHRA BANK 31.80 33.30 -1.50 -4.50 PUNJAB NATL.BANK 76.75 79.85 -3.10 -3.88 BANK OF INDIA 88.70 92.20 -3.50 -3.80 Nifty sectoral losers of the day BSE Sensex: HDFC Bank top gainer of the day, ICICI Bank, Tata Motors, SBI among top losers Market at close   The S&P BSE Sensex ended at 35,217, down 273 points while the broader Nifty50 index settled at 10,671, down 98 points. Gold falls to Rs 31,570 on weak global cues, muted demand Gold remained weak for the second straight day and drifted lower by Rs 25 to Rs 31,570 per 10 gram amid weakening global trend and easing demand from the local jewellers at the bullion market today. Silver slipped below the Rs 41,000-mark, declined by Rs 120 per kg, due to reduced offtake by industrial units and coin makers. READ MORE

The ended lower on Wednesday due to a rise global crude oil prices and rupee hitting a 19-month low during the day, while traders turned cautious a day before the expiry of June derivatives contracts.

The S&P BSE ended at 35,217, down 273 points while the broader Nifty50 index settled at 10,671, down 98 points.

Among sectoral indices, the PSU Bank index ended 2.4% lower led by a fall in the shares of IDBI Bank, Syndicate Bank and Bank of India. Shares of public sector banks (PSBs) fell on concerns of stress in the banking sector after the Reserve Bank of India (RBI) on Tuesday said Gross NPA ratio of banks is likely to rise from 11.6 per cent in March 2018 to 12.2 per cent by the end of the current financial year ratio.

Among individual stocks, the oil marketing companies (OMCs) such as Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL) fell up to 8% on the BSE as global oil prices rose amid supply disruptions.
 
RUPEE

The rupee plunged by 30 paise to hit a 19-month low of 68.54 against the dollar in early trade today on strong month-end dollar demand from importers and banks amid sustained foreign capital outflows.

This is the rupee's lowest level against the greenback since November 29, 2016.
 
GLOBAL MARKETS

Asian share were under stress on Wednesday as further falls in Chinese stocks and the yuan sent ripples across the region, while oil climbed as the United States leaned on allies to stop buying Iranian crude.

Chinese blue chips sank 2.2 per cent to be a whisker above 13-month lows as a resolution of Sino-tensions remained a distant prospect.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost another 0.6 per cent after touching a two-year trough on Tuesday.

Japan’s Nikkei had been faring better but soon succumbed to risk aversion and fell 0.3 per cent.

CRUDE OIL

Oil prices rose on Wednesday on a supply disruption in Canada, falling crude stocks, uncertainty over Libyan exports and after US officials told importers to stop buying Iranian crude from November.

(WIth inputs from Reuters)

First Published: Wed, June 27 2018. 08:15 IST
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MARKET WRAP: Sensex ends 273 pts lower, Nifty at 10,671; PSU banks decline

Among sectoral indices, the Nifty PSU Bank index ended 2.4% lower led by a fall in the shares of IDBI Bank, Syndicate Bank and Bank of India.

The ended lower on Wednesday due to a rise global crude oil prices and rupee hitting a 19-month low during the day, while traders turned cautious a day before the expiry of June derivatives contracts.

The S&P BSE ended at 35,217, down 273 points while the broader Nifty50 index settled at 10,671, down 98 points.

Among sectoral indices, the PSU Bank index ended 2.4% lower led by a fall in the shares of IDBI Bank, Syndicate Bank and Bank of India. Shares of public sector banks (PSBs) fell on concerns of stress in the banking sector after the Reserve Bank of India (RBI) on Tuesday said Gross NPA ratio of banks is likely to rise from 11.6 per cent in March 2018 to 12.2 per cent by the end of the current financial year ratio.

Among individual stocks, the oil marketing companies (OMCs) such as Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL) fell up to 8% on the BSE as global oil prices rose amid supply disruptions.
 
RUPEE

The rupee plunged by 30 paise to hit a 19-month low of 68.54 against the dollar in early trade today on strong month-end dollar demand from importers and banks amid sustained foreign capital outflows.

This is the rupee's lowest level against the greenback since November 29, 2016.
 
GLOBAL MARKETS

Asian share were under stress on Wednesday as further falls in Chinese stocks and the yuan sent ripples across the region, while oil climbed as the United States leaned on allies to stop buying Iranian crude.

Chinese blue chips sank 2.2 per cent to be a whisker above 13-month lows as a resolution of Sino-tensions remained a distant prospect.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost another 0.6 per cent after touching a two-year trough on Tuesday.

Japan’s Nikkei had been faring better but soon succumbed to risk aversion and fell 0.3 per cent.

CRUDE OIL

Oil prices rose on Wednesday on a supply disruption in Canada, falling crude stocks, uncertainty over Libyan exports and after US officials told importers to stop buying Iranian crude from November.

(WIth inputs from Reuters)

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