You are here: Home » Markets » News
Business Standard

MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

In key stocks, RIL fell over 2.3 per cent, while Sun Pharma cracked over 2.7 per cent. Financial stocks such as HDFC, HDFC Bank, SBI fell up to 2.5 per cent.

SI Reporter  |  New Delhi 

The benchmark indices settled over 1 per cent lower on Monday taking cues from their global peers, which fell amid reports that the US was about to announce a new round of tariffs on Chinese imports. The S&P BSE Sensex ended at 37,586, down 505 points while the broader Nifty50 index settled at 11,378, down 137 points. That apart, a weak rupee also affected sentiment. The domestic currency slipped to an intra-day low of 72.62 against the greenback earlier in the day. The domestic unit on Friday had surged by 34 paise to close at a one-week high of 71.84 against the US ...

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient – Pay as you go
Pay using Credit Cards and select Debit Cards (Issued by ICICI Bank 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.
  • Requires you to share personal information like date of birth, income, location amongst other fields. This information alongwith your contact information will be shared with the partners associated with this program, who contribute towards subsidizing the offer. By subscribing to this product you acknowledge and accept that our Partners may choose to contact you with offers of their products and services.
  • This is an optional offer - Not comfortable with sharing personal data - please opt for the full price offer which requires you to share minimal information

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 MONTHLY

BS Digital + FREE Monthly access to The Wall Street Journal online

Business Standard Digital - 1 Month + FREE 1 Month access to
The Wall Street Journal online*
199.00
subscribe
FREE across device access to The Wall Street Journal online*
Convenient – Pay as you go
Pay using Credit Cards and select Debit Cards (Issued by ICICI Bank only)
Auto renewed (subject to your card issuer’s permission)
Cancel any time in the future
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.
  • 18 years of archival data.

ON THE wall street journal online

  • Seamless access to The Wall Street Journal online on any device with your Business Standard Digital account.
  • Experience the best of WSJ’s reporting, video and interactive features (More business executives read the journal globally than any other publication).
  • Get WSJ’s take on people and events shaping business, finance, technology, politics and culture.
  • Get WSJ newsletters in your inbox to make life easier on your busiest days.
  • Your access to The Wall Street Journal online is subject to you not being an existing user of The Wall Street Journal online. Existing users include current or past Premium Users of The Wall Street Journal online. If you happen to be one, your subscription will be valid for Business Standard Digital only without any change in the subscription price.

NOTE :

  • This product is a monthly auto renewal product.
  • If you have been a past Free/Registered User of The Wall Street Journal online - You will not be eligible for the seamless account creation on The Wall Street Journal online facility. Kindly  email us your non-confidential password on The Wall Street Journal online to enable us activate your access from the backend.
  • 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 mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

BS Digital + Free 12 Month Access to The Wall Street Journal online

Business Standard Digital - 12 Months + FREE 12 Months access to The Wall Street Journal online*
1999.00
subscribe
Get 12 months of The Wall Street Journal online worth Rs 17165 FREE*
Single Seamless Sign-up to Business Standard Digital and The Wall Street Journal online
Convenient - Once a year payment
Pay using Credit or Debit Card
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 your 5 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.

ON THE wall street journal online

  • Seamless access to The Wall Street Journal online on any device with your Business Standard Digital account.
  • Experience the best of WSJ's reporting, video and interactive features (More business executives read the journal globally than any other publication).
  • Get WSJ's take on people and events shaping business, finance, technology, politics and culture.
  • Get WSJ newsletters in your inbox to make life easier on your busiest days.
  • Your access to The Wall Street Journal online is subject to you not being an existing user of The Wall Street Journal online. Existing users include current or past Premium Users of The Wall Street Journal online. If you happen to be one, your subscription will be valid for Business Standard Digital only without any change in the subscription price.

NOTE :

  • Saving calculated at the current WSJ price - US $ 1 for the first 3 months and US $ 28.99 thereafter Conversion scale 1 US$ = 65.04 INR
  • If you have been a past Free/Registered User of The Wall Street Journal online - You will not be eligible for the seamless account creation on The Wall Street Journal online facility. Kindly  email us your non-confidential password on The Wall Street Journal online to enable us activate your access from the backend.
  • 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 mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

Business Standard Digital

Business Standard Digital - 12 Months
1999.00
subscribe
Pay as you go
Payment though credit card only
Auto renewed (Subject to your card issuer's permission)
Exclusive invite to select Business Standard events
Cancel any time in the future

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 your 5 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 :

  • 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 mail with the request to  assist@bsmail.in Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

MARKET COMMENT Jayant Manglik, President, Religare Broking Nifty started the week on feeble note and lost over a percent, mainly pressurised by global cues. It opened gap down and remained under pressure till the end. The news of possibility of further escalation of trade war between the US and China didn't go well with the markets. Also, weakness in rupee further dented the sentiment. Mostly sectoral indices traded in line with the benchmark index and closed lower.   Markets are currently dancing to the global tunes and we do not see this changing any time soon. We reiterate our consolidation view in Nifty with bias on the negative side as sustainability seems difficult at higher level. In fact it may witness fresh fall if it fails to hold above 11,300. We advise maintaining balanced approach while trading stocks and keeping positions on both sides

MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

Nifty FMCG index ends 1.38% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) GODREJ INDS. 576.00 589.75 -13.75 -2.33 UNITED SPIRITS 569.50 581.90 -12.40 -2.13 P & G HYGIENE 9875.75 10060.50 -184.75 -1.84 ITC 302.10 307.15 -5.05 -1.64 EMAMI 547.05 555.70 -8.65 -1.56

MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

Sectoral losers of the day on the NSE

MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

BSE Sensex: Sun Pharma, HDFC, RIL among top losers of the day

MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

Market at close   The S&P BSE Sensex ended at 37,586, down 505 points while the broader Nifty50 index settled at 11,378, down 137 points.

MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

Gold edges up in range-bound trade amid looming US tariffs on China Gold inched up on Monday as investors looked for short-term gains using the metal's recent narrow trading range, amid increasing Sino-US trade tensions and prospects of further interest rate hikes by the US Federal Reserve.   Spot gold was up 0.2 per cent at $1,195.83 an ounce, after falling 0.6 per cent on Friday when it marked its third straight weekly decline. US gold futures were down 0.1 per cent at $1,199.80. READ MORE

MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

China stocks drop to near four-year low as Trump said to prepare new tariffs China's main Shanghai Composite index fell to its lowest close in nearly four years on Monday as reports said U.S. President Donald Trump would unveil new tariffs on $200 billion of imported Chinese goods this week.   The Shanghai Composite index dropped 1.1 percent to 2,651.79 points, its worst close since Nov. 27, 2014. The blue-chip CSI300 index also declined 1.1 percent, to 3,204.92 points. In Hong Kong, the Hang Seng index was down 1.3 percent in late afternoon trade, and the China Enterprises index was off 1.2 percent. READ MORE

MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

Oil higher as US Iran sanctions raise supply concerns Oil prices rose on Monday as investors focused on the impact of U.S. sanctions on Iran despite assurances by Washington that Saudi Arabia, Russia and the United States could together raise output fast enough to offset falling supplies. Brent crude oil was up 45 cents a barrel at $78.54. US light crude was up 45 cents at $69.44. READ MORE

MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

IPO Watch   Ircon issue subscribed 15% so far on Day 1 of the offer

MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

Sector watch: NBFCs India Ratings and Research (Ind-Ra) has maintained a stable outlook for the non-banking financial company (NBFCs) sector and for the major NBFCs rated by it for 2HFY19. NBFCs have continued to increase their market share in the credit domain, as many public sector banks have been placed under the Prompt Corrective Action framework, leading to lending restrictions and NBFCs’ increased ability to structure loans.   Ind-Ra expects NBFCs to clock loan growth of 16%-18% yoy in FY19, by continuing their market share gains. In light of rising funding cost, NBFCs have resorted to higher short-term borrowings and have increased focus on higher yielding segments such as used commercial vehicle (CV) financing, unsecured SME loans and small ticket loans against property.

MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

China Inc's global retreat set to continue despite $17 bn asset selloff The global retreat by some of China’s biggest and most-indebted conglomerates shows no signs of stopping -- even after more than $17 billion of asset sales.   A unit of HNA Group Co. last week missed payments on a 300 million yuan ($44 million) loan, illustrating how the once-acquisitive Chinese company will need to unload more properties and shares to overcome liquidity challenges. And in the U.S. on Friday, Dalian Wanda Group Co. scaled back its bet on movie-theater chain AMC Entertainment Holdings Inc. READ MORE

First Published: Mon, September 17 2018. 08:13 IST
RECOMMENDED FOR YOU

MARKET WRAP: Sensex crashes 505 pts, Nifty at 11,378 on weak global cues

In key stocks, RIL fell over 2.3 per cent, while Sun Pharma cracked over 2.7 per cent. Financial stocks such as HDFC, HDFC Bank, SBI fell up to 2.5 per cent.

The benchmark indices settled over 1 per cent lower on Monday taking cues from their global peers, which fell amid reports that the US was about to announce a new round of tariffs on Chinese imports. The S&P BSE Sensex ended at 37,586, down 505 points while the broader Nifty50 index settled at 11,378, down 137 points. That apart, a weak rupee also affected sentiment. The domestic currency slipped to an intra-day low of 72.62 against the greenback earlier in the day. The domestic unit on Friday had surged by 34 paise to close at a one-week high of 71.84 against the US ...

image
Business Standard
177 22