MARKET WRAP: Sensex cracks 572 pts on global sell-off; IT, auto stocks drag

The Nifty IT index fell 2.1 per cent weighed by Infibeam Avenues, Tech Mahindra and Infosys. The Nifty Auto index, too, ended 2.2 per cent lower pulled by Maruti Suzuki and Tata Motors.

10:42 AM

NEWS ALERT Fitch cuts India FY21 GDP growth forecast to 7.1% from 7.3%

10:41 AM

NEWS ALERT Fitch cuts India FY19 GDP growth forecast to 7.2% from 7.8%

10:40 AM

Nifty PSU Bank index is trading over 1.5% lower weighed by Syndicate Bank and Oriental Bank of Commerce

10:33 AM

Nifty Metal index falls most in 17 months; Vedanta, JSPL hit 52-week low

 

Shares of metal companies are under pressure for the second straight day. Nifty Metal index has hit 17-month low on Thursday, amid fears of global slowdown. At 09:30 am, Nifty Metal index, the largest loser among sectoral indices, was down 2.5% at 3,042, its lowest level since July 10, 2017, on National Stock Exchange (NSE). In the last two trading sessions, the metal index has dipped 6%, as compared to a 2% decline in the Nifty 50 index. Read more

 

10:20 AM

A new clause in Mauritius income tax law poses headache to Indian investors

Mauritius has amended its Income Tax Act and inserted a clause for determining the place of effective management. This makes it difficult to establish residency in the country and poses a new headache to Indian private equity as well as portfolio investors putting money into the country.

 

The Mauritius Revenue Authority (MRA) issued a Statement of Practice (SOP) on November 28, with regard to Section 73A of the Income Tax Act on place of effective management. READ MORE

10:09 AM

NEWS ALERT Rupee weakens to 71 per dollar

10:00 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,528.37	-356.04	-0.99
S&P BSE SENSEX 50	11,158.49	-120.61	-1.07
S&P BSE SENSEX Next 50	31,284.76	-455.37	-1.43
S&P BSE 100	10,899.26	-123.81	-1.12
S&P BSE Bharat 22 Index	3,340.28	-28.08	-0.83

9:47 AM

NCC Limited is trading over 8% lower

9:46 AM

Overseas listings of Indian companies decline on shrinking premiums

 

Few companies now look abroad to meet equity capital needs. This can be seen by the long gap between the last two overseas listings of Indian firms. Hinduja Foundries, a company that manufactures castings used in cars and tractors, raised $59.9 million in 2015-16. HDFC Bank followed with a $1.8-billion offering in August 2018. Increased foreign participation in domestic markets and shrinking premium abroad have contributed to the scarcity of such offerings, according to experts. Read more

9:27 AM

Some auto stocks hover near 52-week low

9:23 AM

BSE Oil & Gas index slips 1% in early trade

9:21 AM

Sectoral trend on NSE

9:19 AM

Opening gainers and losers in BSE Sensex

9:17 AM

Market at open

 

At 9:15 AM, the S&P BSE Sensex was trading at 35,661, down 223 points while the broader Nifty50 was ruling at 10,709, down 74 points.

 

9:05 AM

Bond Alert: 10-year Govt bond yield opens at 7.43% against previous close of 7.44%