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

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SI Reporter  |  New Delhi 

Markets ended lower with the S&P BSE Sensex 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 markets 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 ...

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MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebis TER order

Sectoral trend on NSE

MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebis TER order

BSE Sensex: Top gainers & losers

MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebis TER order

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.

MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebis TER order

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

MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebis TER order

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

MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebis TER order

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

MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebis TER order

World Gold Council warns India against curbs on gold imports India should not tamper with its gold import duty or impose other restrictions to support the rupee, the World Gold Council said on Wednesday, as the government considers ways to cut "non-necessary" imports to stem an outflow of dollars. READ MORE

MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebis TER order

No taker yet for IL&FS Financial Services; high NPAs keep investors away IL&FS Financial Services (IFIN), a subsidiary of beleaguered infrastructure financing company IL&FS put up for sale three weeks ago, has failed to find any taker as prospective investors are worried over its high bad debt and recent defaults. READ MORE

MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebis TER order

NEWS ALERT JP Morgan's Pinakin Parekh: Continue to see steel production cuts in China. Globally, steel stocks are trading at low-single digit PE multiples.

MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebis TER order

NEWS ALERT JP Morgan's Pinakin Parekh: Steel prices are holding on to highest levels since a decade. Seen large amount of de-stocking in base metals.

MARKET WRAP: HDFC twins drag Sensex; AMC stocks fall on Sebis TER order

Market Check Index Current Pt. Change % Change   S&P BSE SENSEX 37,307.35 +16.68 +0.04   S&P BSE SENSEX 50 11,804.54 +5.02 +0.04   S&P BSE SENSEX Next 50 33,939.14 +59.08 +0.17   S&P BSE 100 11,573.66 +7.22 +0.06   S&P BSE Bharat 22 Index 3,584.83 +29.52 +0.83 (Source: BSE)

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.

Markets ended lower with the S&P BSE Sensex 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 markets 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 ...

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