Sensex dips 230 pts, RIL at 2-mth closing low; TCS now most valued by m-cap
All that happened in the markets today
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Benchmark indices ended lower on Thursday for the seventh straight session with heavyweights like Reliance Industries (RIL) and Coal India leading the list of losers even as United States and China prepare to start trade deal negotiations later in the day.
RIL that slipped nearly 3.4 per cent on the BSE to Rs 1,255 levels and hit its lowest closing level in two months. In the process, TCS overtook the Mukesh Ambani-controlled RIL to become the ost valued company on market-capitaliasation (m-cap) basis. READ THE FULL REPORT HERE
RIL that slipped nearly 3.4 per cent on the BSE to Rs 1,255 levels and hit its lowest closing level in two months. In the process, TCS overtook the Mukesh Ambani-controlled RIL to become the ost valued company on market-capitaliasation (m-cap) basis. READ THE FULL REPORT HERE
At the index level, S&P BSE Sensex slipped 230 points, or 0.61 per cent, to end the day at 37,559. Out of the 30 index constituents, only 12 ended in the green. The broader Nifty50 index dipped 58 points, or 0.51 per cent, to finish at 11,302.
"We remain cautious on the Indian markets and expect it to remain volatile in the near term on back of on-going Q4FY19 earnings season. Investors’ focus would be on domestic macro data (IIP) which is scheduled tomorrow," said Jayant Manglik, President - Retail Distribution, Religare Broking.
Adding: "Globally, progress of trade talks between US and China, behavior of crude oil prices and fluctuation in currency will be on investor’s radar. Given uncertain market conditions, we advise traders & investors to be selective in stock picking."
Among sectoral indices, Nifty Media was the biggest winner, up 3.58 per cent, while Nifty Metal index remained under pressure throughout the day and finished 1.4 per cent lower.
In the broader market, the S&P BSE MidCap index fell 28 points, or 0.19 per cent, at 14,355, while the S&P BSE SmallCap index ended 53 points, or 0.38 per cent, lower at 14,076.
BUZZING STOCKS
Shares of YES Bank fell about 2.5 per cent to Rs 157 on the BSE during the early morning trade on Thursday before ending the day six per cent higher at Rs 170.30 even though rating agency India Ratings (Ind-Ra) downgraded the bank’s long-term ratings even as it reaffirmed the short term rating. READ MORE
Avadh Sugar & Energy shares surged 13 per cent to Rs 518 in early morning trade on the BSE on Thursday after the company announced that the board will meet on Monday (May 13) to consider maiden bonus issue. However, the share ended the day 8.75 per cent at Rs 499.75. READ MORE
GLOBAL MARKETS
World shares tumbled for a fourth day running on Thursday after a warning from US President Donald Trump that a long-worked-on trade deal with China was in serious danger.
Europe’s main stock markets sank almost immediately after a torrid day for Asia had battered 1.8 per cent off China and more than 3 per cent off South Korea, which is often seen as the bellwether for how this trade war hits home. Wall Street futures pointed to a 0.85 per cent lower start after a choppy previous session had seen the Dow Jones Industrial close fractionally higher but the S&P 500 and Nasdaq drop 0.2 per cent and 0.3 per cent.
(With Reuters input)
3:36 PM
Sectoral trend on NSE
3:35 PM
Market at close | NSE Nifty sheds 58 points to close at 11,301.80
3:34 PM
Market at close | BSE Sensex closes 230 points lower at 37,558.91
3:21 PM
Asian Paints climbs almost 2.5% after Q4 results
3:15 PM
Sectoral trend on NSE
3:08 PM
Asian Paints Q4 results: Consolidated ebitda margin at 16.4%
3:08 PM
Asian Paints Q4 results: Consolidated ebitda at Rs 823 crore
3:08 PM
Asian Paints Q4 results: Consolidated revenue at Rs 5,018 crore
3:07 PM
Asian Paints Q4 results: Consolidated net profit at Rs 487 crore
3:00 PM
MARKET CHECK
2:51 PM
Apollo Tyres hits 26-month low on weak March quarter results
Shares of Apollo Tyres hit a 26-month low of Rs 185 apiece, down 5 per cent intra-day on the BSE on Thursday, after the company reported a sharp decline of 66 per cent year on year (y-o-y) in consolidated net profit at Rs 84 crore for the quarter ended March 2019 (Q4FY19). While the profit was dented due to higher expenditure and one-time loss of Rs 100 crore, the revenue from operations during the quarter grew 6 per cent at Rs 4,274 crore against Rs 4,034 crore in the corresponding quarter of previous fiscal. READ MORE
2:41 PM
ICRA Q4 results: Cons EBITDA margin at 33.2% YoY
2:41 PM
ICRA Q4 results: Cons revenue up 1.4% YoY at Rs 83.6 crore
2:40 PM
ICRA board declares dividend of Rs 30/share
2:40 PM
ICRA Q4 results: Cons net profit down 5.7% at Rs 25.8 crore YoY
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First Published: May 09 2019 | 7:50 AM IST