MARKET: Sensex slips 433 pts ahead of AGR hearing; Nifty Bank down over 2%

All that happened in the markets today

MARKET: Indices see a sharp fall, Sensex tumbles 600 pts; financials tank

NSE's Nifty ended at 11,178, down 122 points or 1.08 per cent.

The domestic stock market ended over 1 per cent lower on Friday amid selling in financial counters ahead of the hearing of adjusted gross revenue (AGR) case in the Supreme Court. Further, weak global cues such as lacklustre Chinese economic data and confusion over US fiscal stimulus, too, weighed on investor sentiment.

The S&P BSE Sensex today shed 433 points or 1.13 per cent to settle at 37,877 levels. HDFC Bank, ITC, ICICI Bank, Axis Bank, and Reliance Industries (RIL) were the major contributors to the index's loss. NSE's Nifty ended at 11,178, down 122 points or 1.08 per cent.

On a weekly basis, Sensex slipped 0.4 per cent while Nifty lost 0.3 per cent.

In the broader market, the S&P BSE MidCap index fell over 1 per cent to 14,434 levels while the S&P BSE SmallCap index declined 0.6 per cent to 13,855.18 points.

Among sectoral indices on the NSE, Nifty Auto slipped 2.56 per cent while Nifty Bank fell over 2 per cent.

Global markets

Global shares dipped on Friday after lacklustre Chinese economic data and worries about a delay in US fiscal stimulus discouraged some investors from taking on risk. European shares were also dragged lower by a hit to travel stocks after Britain added more European countries to its quarantine list. The pan-European STOXX 600 was down 0.7 per cent, although on track to gain for a second straight week.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.1 per cent, although shares in Japan rose 0.2 per cent.

Chinese shares rose 1.5 per cent in choppy trade, with the data suggesting domestic demand is still struggling after the coronavirus outbreak.

E-mini futures for the S&P 500 were flat.

(With inputs from Reuters)

3:40 PM

Nifty sectoral indices at close

3:39 PM

Heatmap: Top Sensex gainers and losers at close

3:37 PM

CLOSING BELL

The S&P BSE Sensex ends 433 points, or 1.13 per cent, lower at 37,877 while NSE's Nifty ends at 11,178, down 122 points or 1.08 per cent.

3:21 PM

AGR Case :: Batting for spectrum as an asset of the telco, SBI tells SC

>> SBI has clarrified that CoC has complete autonomy to decide who gets how much.

>> SBI has clarrified that operational creditors (like the DoT) cant be paid at par with financial creditors.

Alert: CoC is Committee of Creditors

(Source: TV Reports)

3:16 PM

NEWS ALERT :: AGR hearing begins

3:12 PM

NEWS ALERT :: 10-yr govt bond yield rises from 5.86% to 5.95%

3:09 PM

Telecom stocks in focus

COMPANY	LATEST(rs)	CHG(%)
VODAFONE IDEA	8.86	-1.99
BHARTI AIRTEL	530.25	-1.01
TATA COMM	816.55	5.00

» More

2:58 PM

Bank stocks crack; Nifty Bank index declines over 3%; Axis Bank, BoB dip 4%

Banking stocks cracked at the bourses in the later afternoon session on Friday, dragging the benchmark indices S&P BSE Sensex and NSE's Nifty50 nearly 1 per cent lower. Nifty Bank index declined 3.3 per cent to trade at 21,459 level on the NSE and was trading as the top sectoral loser. Nifty PSU Bank and Nifty Financial Services indices were down around 3 per cent each at 2:30 pm. READ MORE

In each strategic sector, no more than four state-owned companies will exist

2:54 PM

Ramco Cements slips over 2.5% as Q1 PBT drops 43% to Rs 157.5 crore

Ramco Cements shares declined over 2.7 per cent on the BSE on Friday after the company reported a profit before tax (PBT) of Rs 157.50 crore for the quarter ended June 30, 2020, down 43 per cent against Rs 279.93 crore profit in the year-ago period. Revenue dropped 24 per cent YoY to Rs 1,056.79 crore from Rs 1,396.82 crore. READ MORE

2:51 PM

Hindalco dips 1.5% on Rs 709 crore loss in June quarter

Shares of Hindalco Industries slipped 1.5 per cent to Rs 180.65 on the BSE on Friday aftet the company reported its June quarter result.The company reported loss of Rs 709 crore in the recently concluded quarter, as against a profit of Rs 1,063 crore in the year-ago period. Sequentially, the profit was Rs 668 crore in the March quarter of FY20. That apart, its revenue from operations skid from Rs 29,972 crore in Q1FY20 to Rs 25,283 crore in the June quarter of this fiscal. EBITDA came in at Rs 2,359 crore, down from Rs 3,769 crore reported in the corresponding quarter of the previous fiscal. READ MORE