Indices end 1% lower: Sensex down 360 pts, Nifty at 10,350; Lupin tanks 17%
All that happened in the market today
 "Photo: Shutterstock")
Photo: Shutterstock
The benchmark indices remained under pressure at closing with Sensex down over 350 points and Nifty ending around 10,350 levels on profit-booking in banks, oil & gas, banking & financials, metals and auto stocks.
However, Asian markets, touched their highest in a decade, while oil prices edged down after surging to a more than two-year peak as Saudi Arabia’s crown prince cracked down on corruption.
Bonds and the rupee also fell after oil prices surged overnight to their highest since mid-2015, raising concerns about the inflation outlook and hitting oil refiners such as Reliance Industries
Oil prices rose 3.5% on Monday, the highest since early July 2015, as Saudi Arabia’s crown prince cemented his power with an anti-corruption crackdown, while the US rig count fell and markets continued to tighten.
The rise in oil prices is seen as likely to prevent the Reserve Bank of India from cutting interest rates anytime soon, even as economic growth has slowed to a three-year low - removing a potential trigger for markets.
However, Asian markets, touched their highest in a decade, while oil prices edged down after surging to a more than two-year peak as Saudi Arabia’s crown prince cracked down on corruption.
3:43 PM
Nifty Pharma index fell over 4%
Source: NSE
3:41 PM
Sectoral Trend
Source: NSE
3:39 PM
Top Sensex gainers and losers
Source: NSE
3:36 PM
Broader markets
In broader markets BSE Midcap and BSE Smallcap indices fell 1.5% and 1.4% respectively
In broader markets BSE Midcap and BSE Smallcap indices fell 1.5% and 1.4% respectively
3:33 PM
Markets at close
Benchmark indices remained under pressure at closing with Sensex down over 350 points and Nifty ending around 10,350 levels on profit-booking in banks, oil & gas, banking & financials, metals and auto stocks.
The S&P BSE index ended at 33,370, down 360 points hwile the broader Nifty50 index ended at 10,350 down 101 points
Benchmark indices remained under pressure at closing with Sensex down over 350 points and Nifty ending around 10,350 levels on profit-booking in banks, oil & gas, banking & financials, metals and auto stocks.
The S&P BSE index ended at 33,370, down 360 points hwile the broader Nifty50 index ended at 10,350 down 101 points
3:22 PM
More goods may get cheaper as Jaitley hints at pruning 28% GST slab list
Finance Minister Arun Jaitley today hinted at pruning the list of items in the highest GST tax bracket of 28% after revenue in the new regime equalise collections previously.
Under the Goods and Services Tax (GST) regime implemented from July, over 1,200 products and services have been fitted into one of the 5, 12, 18 and 28 per cent tax slabs based on the principle of keeping the total tax incidence at almost the same level as previously as well as keeping revenue collections neutral.
Jaitley said some of the items should never have been in the 28 per cent slab and the GST Council in the last 3-4 meetings has slashed rates on over 100 items, thereby bringing them down either from 28 per cent to 18 per cent or from 18 per cent to 12 per cent.
3:11 PM
Jyothy Laboratories plunges 16% post Q2 results
Jyothy Laboratories plunged 16% to Rs 330 on the BSE in intra-day trade after the company recorded volume growth of 3.5% in September quarter (Q2FY18). It had reported volume growth of 8% in the same quarter last fiscal.
The company has reported 47% year on year growth in its consolidated net profit at Rs 45.7 crore in September quarter (Q2FY18). EBITDA (earnings before interest, taxes, depreciation and amortization) margins improved to 16.4% in Q2FY18 from 14.9% in Q2FY17. The company’s operational revenue however declined marginally by 0.5% at Rs 430 crore against Rs 432 crore in the corresponding quarter of previous fiscal.
3:01 PM
Demonetisation an attempt to change the way India spends money: Jaitley
Mounting a powerful defence of the demonetisation measure designed to curb black money, Finance Minister Arun Jaitley on Tuesday said that as a disruptor of the status quo ante the note ban, along with other measures taken, has set in motion a process of changing the manner in which India spends money.
"If you look back at all the steps we have taken in the last three-to-four years, besides demonetisation, we have succeeded in bringing centre-stage the whole issue of how financial transactions in India ought to be carried out," Jaitley said addressing the India Today Conclave Next here. READ MORE
2:48 PM
Cipla second-quarter profit rises 19%
Cipla India’s second largest drugmaker by market capitalisation, posted a 19% rise in quarterly profit, slightly above analysts’ estimate.
Profit rose to $s 423 crore 65.21 million)in the second quarter ended Sept. 30, from 3.54 billion rupees a year earlier, the company said
2:31 PM
Energy shares fall
Energy shares slipped, with the Nifty Energy index losing 1.7%. Oil refiners Reliance Industries and Indian Oil Corp were 3% and 2.5% lower respectivelt.
Hindustan Petroleum Corp slipped 2.6%, while Bharat Petroleum Corp shed 2.9%.
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First Published: Nov 07 2017 | 3:31 PM IST