Sensex sees biggest fall since Nov, 2016, Nifty ends below 9,850; ITC drags

All that happened in today's trade

4:05 PM

Vinod Nair of Geojit Financial Services says: If we keep aside two stocks (ITC and Reliance Industries), the market was largely positive. But still there is chance of further consolidation in the near-term due to stock specific reactions as a result of weak Q1 result. Currently FY18 EPS forecast is very high at 20% while preview for Q1 is dull which will lead to downgrade.

3:49 PM

Life Insurance Corporation (LIC) has reduced its stake in Tata Global Beverages by 2.14 per cent, selling 1.35 crore shares in the market.

 

The public sector insurer, which had 9.85 per cent stake earlier, brought down its shareholding in the company to 7.70 per cent by selling shares between July 20, 2016, and July 4, 2017, Tata Global Beverages (TGBL) said in a filing to BSE.

3:47 PM

Nifty Realty also added to the losses, down over 1% dragged by Unitech, Indiabulls Real Estate, DLF and Prestige Realty

3:45 PM

Among global peers, MSCI All-Country World index was little changed while US stock futures were off 0.1%.

3:44 PM

Cement maker ACC hit a record high, rising as much as 3.5% in intra-day, after it posted about 33% growth in June-quarter consolidated profit, beating analysts' estimates. The stock later pared gains to end 0.5% higher for the day

3:43 PM

Shares of other cigarette makers such as Godfrey Phillips India also slipped over 10% to their lowest in nearly three months.

3:43 PM

Consumer staple stocks accounted for nearly two-third of the losses on the Nifty, with Nifty FMCG index posting its biggest intraday percentage fall ever.

3:42 PM

Top gainers and losers on BSE Sensex

3:40 PM

HUL announces Q1:  PAT at Rs 1,283 crore; revenue at Rs 9,094 crore

3:31 PM

Benchmark indices ended the day lower with Sensex down over 300 points and Nifty below 9,850 dragged by index heavyweight ITC, which fell over 15% intra-day after GST Council increased cess on tobacco products.

Sentiment was further hurt by global peers. They also struggled with European shares off more than 0.4% as a set of disappointing results from the likes of Ericsson and Lufthansa soured the mood.

The S&P BSE Sensex ended the day at 31,711, down 364 points while the broader Nifty50 index settled at 9,827, down 89 points.

In broader markets, both BSE Midcap and BSE Smallcap indices ended the day 0.6% lower.

3:17 PM

Nifty Bank erases intra-day gains, hovers around 24,000

3:12 PM

Market Watch: Advance-decline ration worsens to 3:7, with 1,688 declines against 950 advances

3:02 PM

Markets extend losses in the last leg of trade dragged by index heavyweight ITC after GST Council decide to increase cess on tobacco yesterday.

At 3:00 pm, the S&P BSE Sensex was trading at 31,722, down 352 points while the broader Nifty50 index was ruling at 9,821 down 94 points

In broader markets, BSE Midcap and BSE Smallcap indices fell 0.6% each.

2:24 PM

HUL Preview: Edelweiss Securities says that they expect HUL to record a volume decline of nearly 1-2% YoY on a base of 4% YoY (volumes grew 4% YoY in Q4FY17 on a base of 4% YoY) owing to impact in CSD sales and destocking in wholesale channel owing to GST.

Click here to know what other brokerages say

HUL

2:22 PM

HCL Infosystems surged 17% in intra-day after the company clarified on reports of tying up with Apple

 

“As part of the overall strategy, the company keeps evaluating various strategies from time to time to create value for shareholders. In line with the same, the company had decided to move from Single brand to Multi brand distribution model in our Consumer Distribution business,” the company said in a filing.