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MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebi's TER order

Catch all the live market actions here.

SI Reporter  |  New Delhi 

Markets, Stocks, BSE, NSE, SENSEX
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Sectoral trend on NSE BSE Sensex: Top gainers & losers MARKET UPDATE BSE Sensex slipped 169 points, or 0.5 per cent, dragged lower by HDFC Bank and HDFC that lost nearly 1.4 per cent each. NSE's Nifty50, on the other hand, ended 43 points, or 0.4 per cent lower. Primer Sebi has cut total expense ratio for MFs: Here's what this means for you In a bid to make investing in mutual fund (MF) schemes cheaper, market regulator Securities and Exchange Board of India (Sebi) on Tuesday lowered the total expense ratio (TER) of MFs. The move is likely not only to make it easier for you to invest in MFs but also improve the returns. So, should you park more money in these funds now? READ HERE Dinesh Engineers sets IPO price band at Rs 183185; issue to open on Sep 28 Dinesh Engineers, a passive communication infrastructure provider firm, Wednesday said it has fixed a price band of Rs 183-185 per equity share for its initial public offering, through which it is estimated to raise Rs 185 crore.   The company's IPO will be open for public subscription on September 28 and close on October 3, it said in a statement. READ MORE Rising liquidity issues in ILFS credit negative for Indian banks: Moody's Moody's Investors Service Wednesday said rising liquidity issues in ILFS, which has recently defaulted on repayment of Rs 100 crore, are credit negative for Indian banks.   The debts incurred by ILFS in the form of bank loans accounted for around 0.5-0.7 per cent of overall banking system loans as on March 31, 2018. READ MORE

ended lower with the S&P slipping 169 points, or 0.5 per cent, dragged lower by HDFC Bank and HDFC that lost nearly 1.4 per cent each. NSE's Nifty50, on the other hand, ended 43 points, or 0.4 per cent lower.

Among stocks, HDFC Asset Management Company (down over 8 per cent) and Reliance Nippon Life Asset Management (down over 11 per cent) lost ground on Wednesday, a day after the capital regulator Sebi announced major changes to the fee structure for the Rs 25-trillion mutual fund (MF) industry, a decision that will hit the profits of asset management companies (AMCs) but result in savings for investors. The regulator capped the so-called total expense ratio for fund houses with equity assets up to Rs 500 billion at 1.05 per cent, down from as much as 1.75 per cent charged earlier.

will remain closed on Thursday on account of Moharram.
 
Global Markets

Asian rose across the board and long-term US Treasury yields hovered near four-month highs on Wednesday with investors looking past the latest escalation in the US-China trade feud, seen by some market participants as less severe than expected. 

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7 per cent. Hong Kong’s Hang Seng was up 1.1 per cent and the Shanghai Composite Index rose 1 per cent following a surge of 1.8 per cent the previous day. Australian added 0.45 per cent, South Korea’s KOSPI dipped 0.2 per cent and Japan’s Nikkei rose 1.5 per cent.

(with wire inputs)

First Published: Wed, September 19 2018. 08:25 IST
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MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebi's TER order

Catch all the live market actions here.

ended lower with the S&P slipping 169 points, or 0.5 per cent, dragged lower by HDFC Bank and HDFC that lost nearly 1.4 per cent each. NSE's Nifty50, on the other hand, ended 43 points, or 0.4 per cent lower.

Among stocks, HDFC Asset Management Company (down over 8 per cent) and Reliance Nippon Life Asset Management (down over 11 per cent) lost ground on Wednesday, a day after the capital regulator Sebi announced major changes to the fee structure for the Rs 25-trillion mutual fund (MF) industry, a decision that will hit the profits of asset management companies (AMCs) but result in savings for investors. The regulator capped the so-called total expense ratio for fund houses with equity assets up to Rs 500 billion at 1.05 per cent, down from as much as 1.75 per cent charged earlier.

will remain closed on Thursday on account of Moharram.
 
Global Markets

Asian rose across the board and long-term US Treasury yields hovered near four-month highs on Wednesday with investors looking past the latest escalation in the US-China trade feud, seen by some market participants as less severe than expected. 

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7 per cent. Hong Kong’s Hang Seng was up 1.1 per cent and the Shanghai Composite Index rose 1 per cent following a surge of 1.8 per cent the previous day. Australian added 0.45 per cent, South Korea’s KOSPI dipped 0.2 per cent and Japan’s Nikkei rose 1.5 per cent.

(with wire inputs)

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