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Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

All that happened in Tuesday's session

SI Reporter  |  New Delhi 

The benchmark indices extended losses for the second straight session on Tuesday as an unexpected regulatory order imposing trading restrictions on 331 listed entities identified as shell companies raised concerns about a wider probe into others. The restrictions include limiting trading in the affected companies' stocks to once a month and curbs in the trading of shares held by the promoters and directors of the companies - raising fears of additional measures from the regulator. Concerns about valuations also weighed on ...

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Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

Vinod Nair, Head of Research, Geojit Financial Services   Market faced the heat of selling pressure and finally ended below 10,000 as the Sebi's call to put restrictions on shell companies raised concern in investor’s mind. In the meantime, the metal stocks stole the show which outperformed the major indices and countered the slid to some extent.  

Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

SEBI Order: VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services   The Sebi action against shell companies is part of the government's grand design to reset Indian economy. Demonetisation, GST, the crackdown on black money, and many more measures that will follow, will ultimately lead to a cleaner, healthier and faster growing economy. This is a highly desirable and welcome move.

Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

Sintex Plastics makes a tepid debut, closes in lower circuit of 5%. READ FULL REPORT HERE 

Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

Nifty Realty index leading sectoral loser  Shares of real estate companies were under pressure with Nifty Realty index losing nearly 5% intraday. Housing Development and Infrastructure Limited (HDIL), Indiabulls Real Estate, DLF and Unitech from Nifty Realty index were down more than 5% each. Source: NSE

Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

Sensex heatmap at close  Source: BSE

Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

Adavance-decline ratio The market breadth depicted weakness. There were more than three losers against every gainer on BSE. 1,982 shares declined and 603 shares rose. A total of 122 shares were unchanged.

Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

Broader markets underperform  Broader indices underperformed with the BSE Midcap and the BSE Smallcap indices losing over 1% each. 

Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

Markets at close The Sensex settled the day 259 points lower at 32,014, while the broader Nifty50 ended below its crucial 10,000-mark. The 50-share index quoted 9,978, down 78 points. 

Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

Suspected shell company Prakash Industries zooms 208% in 2017. CLICK HERE FOR DETAILS

Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

Century Textiles hits lifetime high Century Textiles & Industries surged 5% to hit its all-time high of Rs 1291 after the company's net profit spurted 1761.3% to Rs 120.24 crore for the June quarter.

Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

European markets European markets were trading lower. The pan-European STOXX 600 index was down 0.2%, while blue chips also fell 0.2%. Britain's FTSE 100 was also down 0.2%, as was Germany's DAX.

First Published: Tue, August 08 2017. 15:36 IST
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Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment

All that happened in Tuesday's session

The benchmark indices extended losses for the second straight session on Tuesday as an unexpected regulatory order imposing trading restrictions on 331 listed entities identified as shell companies raised concerns about a wider probe into others. The restrictions include limiting trading in the affected companies' stocks to once a month and curbs in the trading of shares held by the promoters and directors of the companies - raising fears of additional measures from the regulator. Concerns about valuations also weighed on ...

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