You are here: Home » Markets » News
Business Standard

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

All that happened in the market today

Topics
Markets

SI Reporter  |  New Delhi 

Meanwhile, Citigroup revised their Sensex target upwards to 33,800 by March 2018 from an earlier target of 32,200.  Government’s measures on bank recapitalisation, infrastructure, and crop prices, coupled with domestic flows, would support India stocks, even as downgrades in earnings continue, Surendra Goyal, equity strategist in Citibank India, said in a note. 

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
199.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Amex/Master/VISA Credit Cards and VISA Debit Cards Only
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

Business Standard Digital
Subscribe Now and get 12 months Free

Business Standard Premium Digital - 12 Months + 12 Months Free
1799.00
subscribe
Subscribe for 12 months and get 12 months free.
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice -all Credit and Debit Cards, Net Banking, Payment Wallets, and UPI
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer's permission we will charge your card/ payment instrument each month automatically and renew your subscription.
  • In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
  • We do not Refund.
  • No Questions asked Cancellation Policy.
  • You can cancel future renewals anytime including immediately upon subscribing but 48 hours before your next renewal date.
  • Subject to the above, self cancel by visiting the "Manage My Account“ section after signing in OR Send an email request to assist@bsmail.in from your registered email address and by quoting your mobile number.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

Markets at close Sensex (up 6%), Smallcap index (up 9%) recorded best ever performance  since March 2016. In March 2016, Sensex and smallcap index were up 10% each.  However, BSE Midcap index gained 7.5% in October.

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

Market rundown by Mr. Vinod Nair, Head of Research at Geojit Financial Services    "Market ended on a negative note after a volatile trade due to strong resistance around recent high and profit booking in PSU banks & metal stocks after the recent solid performance. The domestic macros remain positive supported by ample reforms & good Q2 results so far, while rising oil price in the global market and tomorrow’s FED policy influenced domestic market to take a wait & watch approach."

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

Top Sectoral gainer: Nifty Realty Source: NSE

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

Nifty PSU bank index down nearly 2% Source: NSE

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

Top Sensex losers and gainers Source: BSE

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

Markets at close   Benchmark indices ended maginally lower on Tuesday, retreating from record highs hit in the previous session, as recent outperformers such as State Bank of India fell, while Infosys Ltd dropped after going ex-dividend. The S&P BSE Sensex ended the day at 33,213, down 53 points while the broader Nifty50 index settled at 10,340, down 23 points

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

Bharti Infratel rebounds 5% from intraday low   Bharti Infratel moved higher by 3% to Rs 442, bouncing back 5% from its early morning low of Rs 419 on the BSE, after a huge block deal was executed on the counter.  On Monday, the stock ended 3% higher at Rs 430.   About 5.78 million equity shares representing 0.31% of total equity of Bharti Infratel changed hands on the BSE, the exchange data showed.

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

Tata Steel elevates T V Narendran as global CEO & MD   Tata Steel Ltd has promoted T V Narendran as chief executive officer and managing director globally, the company said on Tuesday.   Narendran, 52, a company veteran who joined the Tata ranks in 1988, was serving as managing director (India and South East Asia) for the past four years.   Tata Steel executed and commissioned the Kalinganagar steel plant during Narendran's tenure as managing director and also enhanced the plant's ability to serve higher value segments like steel for automobiles, the company said in an exchange filing.

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

Market Check at 3 pm Index Current Pt. Change % Change   S&P BSE SENSEX 33,247.21 -18.95 -0.06   S&P BSE SENSEX 50 10,747.41 -2.43 -0.02   S&P BSE SENSEX Next 50 35,990.63 -92.16 -0.26   S&P BSE 100 10,792.12 -6.61 -0.06   S&P BSE MidCap 16,601.11 +35.79 +0.22

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

Axis Bank up 9% Axis Bank added over 9% intraday as investors bet positively on the developments surrounding share purchase talks.   According to a report in The Economic Times, Bain Capital was in talks with the lender to invest around $750 million to $1 billion, which could help it attrain 5% stake.

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

IMF backs Saudi $500 billion mega-city project   The International Monetary Fund has endorsed an ambitious Saudi Arabian plan to build a $500-billion business and industrial zone extending into Jordan and Egypt, saying the project could benefit the whole region.   Jihad Azour, head of the IMF's Middle East department, said Riyadh would need to balance the huge cost of the zone and other economic projects with its drive to cut a big state budget deficit caused by low oil prices.

First Published: Tue, October 31 2017. 15:30 IST
RECOMMENDED FOR YOU

Sensex ends marginally lower, Nifty below 10,350; PSU Banks, metals fall

All that happened in the market today

Meanwhile, Citigroup revised their Sensex target upwards to 33,800 by March 2018 from an earlier target of 32,200.  Government’s measures on bank recapitalisation, infrastructure, and crop prices, coupled with domestic flows, would support India stocks, even as downgrades in earnings continue, Surendra Goyal, equity strategist in Citibank India, said in a note. 

image
Business Standard
177 22