Sensex ends a tad above 34,000, down 407 pts, Nifty falls 1%; banks drag
All That happened in markets today.
 "Markets, Up, Down, BSE, NSE, Stocks")
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Benchmark indices slumped more than 1% on Friday, in line with Asian peers, as the global rout in equities returned, while lingering concerns over inflation back home weighed on the market.
Asian stocks tumbled to two-month lows after US shares plummeted again in the face of rapidly rising bond yields.
Global cues have weighed on Indian stock markets with major indexes on track for a second straight weekly fall after embarking on a record-hitting spree in January.
US markets remained the epicentre of the global sell-off, with the Dow plunging 4.1% and the S&P 500 sinking 3.7% overnight.
Higher yields are seen hurting equities as they increase borrowing costs for companies and reduce their risk appetite. They also present a fresh alternative to investors, who may choose to allocate some of their money from equities to bonds.
3:44 PM
Top Sectoral gainer: Nifty Metals
3:41 PM
Top Sectoral loser: Nifty bank
3:39 PM
23 stocks from BSE500 gain over 10% during current week in weak market
FDC, SpiceJet, Steel Authority of India (SAIL), Bharat Forge, Ipca Laboratories, Jet Airways and Bajaj Electricals are among 23 stocks from the S&P BSE500 index up over 10% during current week in an otherwise weak market.
Bombay Dyeing & Manufacturing, HEG, Fortis Healthcare, Himachal Futuristic Communications (HFCL), Firstsource Solutions, Jamna Auto Industries, Greenply Industries and Shankara Building Products, too, were up more than 10%. READ MORE
3:36 PM
Sectoral Trend
3:33 PM
Sensex losers and gainers
3:32 PM
Markets at Close
Benchmark indices slumped more than 1% on Friday, in line with Asian peers, as the global rout in equities returned, while lingering concerns over inflation back home weighed on the market.
The S&P BSE Sensex ended at 34,005, down 407 points while the broader Nifty50 index settled at 10,454, down 121 points.
3:20 PM
Everything's a sell in China after $828 billion equity rout
Investors got a stark reminder of how fast their bets can turn in China, where the most bullish trades are falling apart.
The country’s currency was their latest favorite to succumb to a route that has roiled financial markets around the world this week, losing as much as 1.2% on Thursday for the biggest decline since the aftermath of its 2015 shock devaluation. That follows a selloff in large caps and banks that has wiped out about $828 billion from the value of Chinese equities. READ MORE
3:12 PM
Insolvency process: JSW, Tata Steel lead in buying stressed assets
JSW Steel and Tata Steel have emerged as the most aggressive bidders for stressed assets put on the block under the Reserve Bank of India (RBI)-mandated insolvency process. READ MORE
JSW Steel and Tata Steel have emerged as the most aggressive bidders for stressed assets put on the block under the Reserve Bank of India (RBI)-mandated insolvency process. READ MORE
3:00 PM
Market Check
| S&P BSE Sensex | 33,961.77 | -1.31% | |
| Nifty 50 | 10,451.65 | -1.18% | |
| S&P BSE 200 | 4,577.40 | -0.95% | |
| Nifty 500 | 9,247.25 | -0.81% | |
| S&P BSE Mid-Cap | 16,621.81 | -0.16% | |
| S&P BSE Small-Cap | 18,147.06 | 0.09% | |
2:55 PM
India's January retail inflation seen easing only slightly, still above target: Reuters poll
Retail inflation in India eased only slightly last month from a 17-month high hit in December, according to a Reuters poll, offering scant relief to policymakers mindful of the tentative economic recovery. The Reserve Bank of India (RBI) kept its key policy rates unchanged on Wednesday and retained its “neutral” stance in an attempt to maintain a delicate balancing act and nurture growth.
But the central bank raised its inflation expectations for the fiscal year starting in April on surging oil prices and after the government announced an increase in rural and healthcare spending in its budget, which would be inflationary. “There are upside risks to inflation, primarily stemming from higher minimum support price (MSP) for kharif crops as stated in the union budget, increase in customs duties, and fiscal slippage,” said Nikhil Gupta, research analyst at Motilal Oswal.
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First Published: Feb 09 2018 | 3:31 PM IST