Sensex ends 130 pts lower, Nifty a tad above 10100; PSU banks, realty fall
All that happened in the market today
 "Photo: iStock")
Photo: iStock
Benchmark indices fell on Thursday, dragged by banking and financial stocks, ahead of the expiry of derivatives contracts and after the US Federal Reserve raised interest rates while retaining its view for three hikes this year.
Among sectoral indices, the Nifty PSU Bank index was trading over 2% lower led by a fall in the shares of State Bank of India and Syndicate Bank. The Nifty Realty index, too, slipped nearly 1% lower due to a fall in shares of Indiabulls Real Estate and Oberoi Realty.
In its first policy meeting under new Fed chief Jerome Powell, the US central bank indicated that inflation should finally move higher after years below its 2% target and that the economy had recently gained momentum.
The Fed also raised the estimated longer-term "neutral" rate, the level at which monetary policy neither boosts nor slows the economy, a touch, in a sign the current gradual rate hike cycle could go on longer than previously thought.
Globally, the US dollar was on the defensive on Thursday after posting its largest loss in two months when the Fed turned out to be less hawkish than anticipated.
(with Reuters inputs)
The S&P BSE Sensex ended at 33,006, down 130 points while the broader Nifty50 index settled at 10,115, down 41 points.
Among sectoral indices, the Nifty PSU Bank index was trading over 2% lower led by a fall in the shares of State Bank of India and Syndicate Bank. The Nifty Realty index, too, slipped nearly 1% lower due to a fall in shares of Indiabulls Real Estate and Oberoi Realty.
In its first policy meeting under new Fed chief Jerome Powell, the US central bank indicated that inflation should finally move higher after years below its 2% target and that the economy had recently gained momentum.
The Fed also raised the estimated longer-term "neutral" rate, the level at which monetary policy neither boosts nor slows the economy, a touch, in a sign the current gradual rate hike cycle could go on longer than previously thought.
Globally, the US dollar was on the defensive on Thursday after posting its largest loss in two months when the Fed turned out to be less hawkish than anticipated.
Worries about a potential trade war between China and the United States kept gains in Asian shares in check. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, with South Korea's Kospi hitting six-week high, while Japan's Nikkei gained 0.2 per cent in early trade.
(with Reuters inputs)
3:44 PM
Nifty Realty index falls 1.21%
| COMPANY | LATEST | PREV CLOSE | LOSS() | LOSS(%) | VOLUME |
| OBEROI REALTY | 489.90 | 502.50 | -12.60 | -2.51 | 480670 |
| H D I L | 41.00 | 41.75 | -0.75 | -1.80 | 7612827 |
| DLF | 212.90 | 216.05 | -3.15 | -1.46 | 4818660 |
| INDBULL.REALEST. | 201.55 | 204.30 | -2.75 | -1.35 | 5315912 |
| PHOENIX MILLS | 600.65 | 607.45 | -6.80 | -1.12 | 18448 |
3:42 PM
Nifty PSU Bank index ends 2.01% lower
| COMPANY | LATEST | PREV CLOSE | LOSS() | LOSS(%) | VOLUME |
| ST BK OF INDIA | 241.85 | 248.00 | -6.15 | -2.48 | 26301939 |
| SYNDICATE BANK | 58.10 | 59.55 | -1.45 | -2.43 | 3872671 |
| ANDHRA BANK | 42.00 | 43.00 | -1.00 | -2.33 | 5221799 |
| BANK OF INDIA | 101.70 | 103.60 | -1.90 | -1.83 | 6495975 |
| ALLAHABAD BANK | 48.60 | 49.50 | -0.90 | -1.82 | 3359345 |
3:38 PM
Sectoral Trend
3:35 PM
BSE Sensex gainers and losers of the day
3:32 PM
Market at close
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The S&P BSE Sensex ended at 33,006, down 130 points while the broader Nifty50 index settled at 10,115, down 41 points.
3:28 PM
State Bank of India (SBI) hit a 52-week low of Rs 240.65, down 3% on the National Stock Exchange (NSE), falling below its previous low of Rs 241.15 touched on October 26, 2017 in intra-day trade. READ MORE
SBI hits 52-week low; down 22% in two months
State Bank of India (SBI) hit a 52-week low of Rs 240.65, down 3% on the National Stock Exchange (NSE), falling below its previous low of Rs 241.15 touched on October 26, 2017 in intra-day trade. READ MORE
3:15 PM
Tata Coffee, HCC among 61 stocks from BSE smallcap index hit 52-week lows
Shares of smallcap companies were under pressure with 61 stocks from the S&P BSE Smallcap index hitting their respective 52-week lows, falling by upto 15% on the BSE in intra-day trade on Thursday.
Hindustan Construction Company (HCC), Sunil Hitech Engineers, Diamond Power Infrastructure, Reliance Naval and Engineering, Gammon Infrastructure Projects and A2Z Infra Engineering were down in the range of 6% to 13%, touching their respective 52-week lows today. READ MORE
3:00 PM
Private equity firm Xander Group builds entire office portfolio on its own
Private equity firm Xander Group has built its entire office portfolio in the country on its own, as opposed to global peers such as Blackstone and GIC that have taken the joint venture (JV) route.
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Xander has been investing in commercial assets since 2006 and owns over 6 million squre feet of office assets. The firm has operating assets across multiple cities, including Bengaluru, Chennai and Delhi. READ MORE
2:42 PM
Volume Toppers
| COMPANY | PRICE() | CHG() | CHG(%) | VOLUME |
|---|---|---|---|---|
| REL. COMM. | 24.05 | -1.15 | -4.56 | 10485375 |
| HIND.CONSTRUCT. | 24.95 | -3.95 | -13.67 | 8062684 |
| JP ASSOCIATES | 18.70 | -0.80 | -4.10 | 5134401 |
| UNITECH | 5.97 | -0.10 | -1.65 | 3533175 |
| I D F C | 51.20 | 1.20 | 2.40 | 2251781 |
2:34 PM
Capacity utilisation up in select sectors; may lead to investment revival
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There are early signs of an uptick in capacity utilisation in select sectors, which could be a precursor to an investment revival.
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Utilisation rates are on the rise in cement, automobile ancillaries, engineering, casting and sheet metals, industry players told Business Standard.
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A gauge of capacity utilisation is also provided by the RBI data on working capital loans. In line with the trend of rising capacity utilisation rates, working capital loans grew 6.4 per cent in the July-September quarter of 2017-18, up from 4.8 per cent in the preceding quarter. It had plummeted to a low of 1 per cent in the fourth quarter of 2016-17. READ MORE
2:18 PM
Ambuja Cement, Aurobindo Pharma and Bosch will make way for Grasim Industries, Titan and Bajaj Finserv in Nifty 50 index from April 2. The churn, analysts say, will see the weightage of the consumer discretionary, non-banking finance companies (NBFCs) and cement sectors go up by 82 basis points (bps), 61 bps and 60 bps in the Nifty 50 index. READ MORE
Churn in constituents to have negligible impact on Nifty's fundamentals
Ambuja Cement, Aurobindo Pharma and Bosch will make way for Grasim Industries, Titan and Bajaj Finserv in Nifty 50 index from April 2. The churn, analysts say, will see the weightage of the consumer discretionary, non-banking finance companies (NBFCs) and cement sectors go up by 82 basis points (bps), 61 bps and 60 bps in the Nifty 50 index. READ MORE
2:01 PM
Market Check
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| S&P BSE Sensex | 33,056.53 | -0.24% | |
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| Nifty 50 | 10,129.45 | -0.25% | |
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| S&P BSE 200 | 4,429.88 | -0.32% | |
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| Nifty 500 | 8,917.90 | -0.35% | |
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| S&P BSE Mid-Cap | 15,938.97 | -0.58% | |
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| S&P BSE Small-Cap | 17,102.64 | -0.82% | |
1:50 PM
Despite record forex reserves, India's external finances at risk: UBS
India’s record foreign exchange reserves somewhat mask the country’s vulnerability on its external finances. That’s the takeaway from a note by UBS Group AG’s India economist Tanvee Gupta Jain.
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Foreign exchange reserves at $421 billion cover 81 percent of external debt as of September 2017 and less than 11 months of imports. READ MORE
1:35 PM
Vakrangee was locked in lower circuit of 5% at Rs 271 falling 8% from its early morning high of Rs 294 on the BSE with only sellers were seen on the counter. In past four weeks, the stock zoomed 90% from Rs 155 on March 1, 2018, as compared to 2.6% decline in the S&P BSE Sensex. READ MORE
Vakrangee down 5% after surging 90% in four weeks
Vakrangee was locked in lower circuit of 5% at Rs 271 falling 8% from its early morning high of Rs 294 on the BSE with only sellers were seen on the counter. In past four weeks, the stock zoomed 90% from Rs 155 on March 1, 2018, as compared to 2.6% decline in the S&P BSE Sensex. READ MORE
1:20 PM
Supreme Court refuses to lift stay on RCom asset sale to Reliance Jio
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The Supreme Court on Thursday ordered that status quo be maintained on Reliance Communication's sale of assets to R-Jio on pleas by a consortium of banks. READ MORE
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Stock impact: RCom down 5%
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First Published: Mar 22 2018 | 3:31 PM IST
