MARKET WRAP: Sensex ends 140 pts down, FMCG stocks slip; Rupee hits new low

In sectors, the Nifty FMCG index slipped 0.9 per cent, weighed by fall in Godrej Consumer Products and Hindustan Unilever (HUL), which lost 2.7 per cent to end the day at Rs 1,606 levels.

2:11 PM

Bharat Electronics, Vodafone Idea, Force Motors, IndiGo hit 52-week lows

Shares of Bharat Electronics (BEL), Vodafone Idea, Force Motors, Castrol India, InterGlobe Aviation (IndiGo) and Tata Communications have hit their respective 52-week lows on the BSE as the benchmark indices are trading lower for the sixth trading days. READ MORE

2:00 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	37,830.76	-327.16	-0.86
S&P BSE SENSEX 50	11,947.25	-114.45	-0.95
S&P BSE SENSEX Next 50	33,866.79	-433.85	-1.26
S&P BSE 100	11,688.69	-117.63	-1.00
S&P BSE Bharat 22 Index	3,625.41	-34.40	-0.94

(Source: BSE)

1:45 PM

US, European banks divided over 'high-risk jurisdiction' list of nations

Global custodians are at loggerheads among themselves over preparing a list of nations that should be classified as “high-risk jurisdictions”. Sources said US-based banks had pushed for the inclusion of Mauritius in the list, but a few European ones are opposed to it. READ MORE

1:30 PM

Top losers in BSE 500:

COMPANY	PRICE()	CHG()	CHG(%)
BHARAT ELECTRON	93.95	-15.10	-13.85
SHANKARA BUILD.	1451.20	-105.90	-6.80
ENGINEERS INDIA	124.35	-8.55	-6.43
M & M FIN. SERV.	440.30	-25.70	-5.52
ANDHRA BANK	30.70	-1.70	-5.25

1:16 PM

Global financial crisis: How US housing industry went bust, shattered lives

“It is not what you don’t know that gets you into trouble. It is what you know for sure that just ain't so.” Though the author of the quote is still unknown, there is nothing better than this to define the global financial crisis of 2008. READ MORE

12:59 PM

Zydus Cadila gets USFDA nod to sell herpes viruses treatment drug

Drug firm Zydus Cadila Wednesday said it has received final approval from the US health regulator to market Acyclovir injecion, used to treat infections caused by herpes viruses, in the US market.

The stock of Cadila Healthcare was trading 1.18 per cent higher at Rs 396.90 apiece on the BSE. READ MORE

12:54 PM

NEWS ALERT Rupee slips to new low of 71.94 per dollar

12:35 PM

Merck falls 14% in two days after CCI nod for acquisition by P&G

Shares of Merck were locked in the lower circuit for the second straight day, down 5% at Rs 3,064 per share on the BSE, after the Competition Commission of India (CCI) approved the acquisition of 51.8% stake in the company by Procter and Gamble Overseas. READ MORE

12:21 PM

Beneficial ownership norms: Centre, Sebi assuage FPI outflow concerns

The government and the Securities and Exchange Board of India (Sebi) on Tuesday assuaged fears of capital outflows from the country on account of the new beneficial ownership norms for foreign portfolio investors (FPIs). Economic Affairs Secretary SC Garg said there was nothing new in the Sebi circular of April 10. READ MORE

12:08 PM

India's services growth slows in August on weaker demand, rising input prices

India's dominant services sector expanded at a slower pace last month than in July as weaker demand and rising input costs kept a lid on hiring, a private survey showed on Wednesday.

 

The Nikkei/IHS Markit Services Purchasing Managers' Index declined to 51.5 in August from a 21-month high of 54.2 in July. READ MORE

12:00 PM

Market at Noon

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	38,025.56	-132.36	-0.35
S&P BSE SENSEX 50	12,009.30	-52.40	-0.43
S&P BSE SENSEX Next 50	33,976.04	-324.60	-0.95
S&P BSE 100	11,745.87	-60.45	-0.51
S&P BSE Bharat 22 Index	3,641.32	-18.49	-0.51

(Source: BSE)

11:45 AM

The worst is not yet over for rupee, global headwinds to inflict more pain

 

India’s rupee owes its tag of Asia’s worst-performing currency this year to the selloff sweeping emerging markets. There’s more pain in store from beyond its borders.

 

While foreign currency debt has zoomed, various external vulnerability indicators paint a rather mixed picture, according to the Reserve Bank of India’s annual report. Indeed, data due as early as next week will probably show the nation’s current-account deficit widened in the June quarter to 2.6 per cent of gross domestic product, the highest in 4 1/2 years. READ MORE

11:30 AM

Sical Logistics surges 14% on fund raising plan through preferential issue

 

Shares of Sical Logistics surged 14% to Rs 191 on the BSE on back of heavy volumes after the company announced fund raising plan through preferential issue.

 

“A meeting of the board of directors of the company will be held on September 7, 2018, to consider raising funds through issue of equity shares on a preferential basis, subject to the approval from shareholders and regulatory approvals,” Sical Logistics said in a statement. READ MORE

11:15 AM

Sebi imposes Rs 7.45 million fine on 48 entities for fraudulent trading

 

Markets regulator Sebi has slapped a total fine of Rs 7.45 million on 48 entities for fraudulent trading in the shares of Vandana Knitwear. The entities have been fined for violating PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) regulations.

 

An investigation was conducted into the alleged irregularities in trading in the scrip of Knitwear from March to December 2012. It was found that the entities who are connected to each other executed repetitive on-market and off-market transactions amongst themselves. READ MORE

11:00 AM

Nifty Realty index down over 1%