MARKET WRAP: Sensex cracks 806 pts as rupee sinks; OMCs tank up to 13%
The Nifty IT index ended nearly 3 per cent lower weighed by Infibeam Avenues, Tata Consultancy Services and Infosys. The Nifty FMCG index, too, slipped nearly 3 per cent weighed by Hindustan Unilever
 "Markets, Stocks, BSE, NSE, SENSEX")
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The benchmark indices settled over 2 per cent lower on Thursday following a weak rupee which sunk to a fresh low in the intraday trade.
The rupee slipped to a fresh record low 73.81 per dollar in intraday trade on Thursday, after settling at a record low of 73.34 on Wednesday.
The S&P BSE Sensex ended at 35,169, down 806 points while the broader Nifty50 index settled at 10,599, down 259 points.
Among major stocks, ICICI Bank settled over 4 per cent to Rs 316. It had risen over 5 per cent to Rs 321.25 in intraday trade on the National Stock Exchange (NSE) after the bank's CEO Chanda Kochhar resigned with immediate effect. ICICI Bank has named Sandeep Bakhshi as MD and CEO for five years with effect from October 3.
Shares of oil marketing companies fell by up to 13 per cent on Thursday on the BSE after Finance Minister Arun Jaitley announced that these companies will absorb excise duty by Re 1 on petrol and diesel. HPCL, BPCL and IOC tanked up to 13 per cent following the announcement.
Among sectoral indices, the Nifty IT index ended nearly 3 per cent lower weighed by Infibeam Avenues, Tata Consultancy Services and Infosys. The Nifty FMCG index, too, slipped nearly 3 per cent weighed by Hindustan Unilever and ITC.
In the broader markets, both S&P BSE MidCap and S&P BSE SmallCap indices settled around 2 per cent lower.
The S&P BSE Sensex ended at 35,169, down 806 points while the broader Nifty50 index settled at 10,599, down 259 points.
Among major stocks, ICICI Bank settled over 4 per cent to Rs 316. It had risen over 5 per cent to Rs 321.25 in intraday trade on the National Stock Exchange (NSE) after the bank's CEO Chanda Kochhar resigned with immediate effect. ICICI Bank has named Sandeep Bakhshi as MD and CEO for five years with effect from October 3.
Shares of oil marketing companies fell by up to 13 per cent on Thursday on the BSE after Finance Minister Arun Jaitley announced that these companies will absorb excise duty by Re 1 on petrol and diesel. HPCL, BPCL and IOC tanked up to 13 per cent following the announcement.
Among sectoral indices, the Nifty IT index ended nearly 3 per cent lower weighed by Infibeam Avenues, Tata Consultancy Services and Infosys. The Nifty FMCG index, too, slipped nearly 3 per cent weighed by Hindustan Unilever and ITC.
In the broader markets, both S&P BSE MidCap and S&P BSE SmallCap indices settled around 2 per cent lower.
RIL records sharpest intra-day fall in 2018
Shares of Reliance Industries (RIL) have dipped 5.4% to Rs 1,140 per share on the BSE in intra-day trade, recording their sharpest intra-day fall during calendar year 2018. Earlier, on December 18, 2017, RIL had recorded 6.3% decline in intra-day trade and finally settled flat at Rs 919 on the BSE. The stock is the top loser among the S&P BSE Sensex counter. READ MORE
Global Markets
The dollar notched an 11-month top on the yen on Thursday as stunningly strong US economic data drove Treasury yields to their highest since mid-2011, while Asian stocks were pressured as borrowing costs rose at home.
MSCI’s broadest index of Asia-Pacific shares outside Japan skidded 1.1 per cent in response, with South Korea, the Philippines, Indonesia and Taiwan all down.
Even the Nikkei eased 0.2 per cent, as rising yields offset the boost to exporters from a weaker yen.
(with wire inputs)
3:40 PM
Sectoral losers of the day
3:38 PM
S&P BSE Sensex gainers and losers
3:35 PM
The S&P BSE Sensex ended at 35,169, down 806 points while the broader Nifty50 index settled at 10,599, down 259 points.
Market At Close
The S&P BSE Sensex ended at 35,169, down 806 points while the broader Nifty50 index settled at 10,599, down 259 points.
3:29 PM
S&P BSE OIL & GAS index down over 8%
3:26 PM
NEWS ALERT
Committed to 3.3% fiscal deficit target: FM Jaitley
Committed to 3.3% fiscal deficit target: FM Jaitley
3:22 PM
COMMENT Mahesh Singhi, Founder & MD, Singhi Advisors on Chanda Kochhar leaving ICICI Bank
At a time when the market sentiment is at an all-time low and banks are facing the brunt of NPAs on their balance sheets, the exit of Chanda Kochhar will be key to reinstating the credibility of ICICI Bank. The move will restore investor confidence in one of India’s largest private sector banks. She has taken a most dignified and graceful exit which will ensure that the investigation will proceed in a smooth and transparent manner
At a time when the market sentiment is at an all-time low and banks are facing the brunt of NPAs on their balance sheets, the exit of Chanda Kochhar will be key to reinstating the credibility of ICICI Bank. The move will restore investor confidence in one of India’s largest private sector banks. She has taken a most dignified and graceful exit which will ensure that the investigation will proceed in a smooth and transparent manner
3:22 PM
NEWS ALERT
Total benefit to customers on petrol and diesel prices is Rs 2.50 per litre: FM Jaitley
Total benefit to customers on petrol and diesel prices is Rs 2.50 per litre: FM Jaitley
3:21 PM
NEWS ALERT
OMCs will absorb excise duty by Re 1 on petrol & diesel: FM Jaitley
OMCs will absorb excise duty by Re 1 on petrol & diesel: FM Jaitley
3:20 PM
NEWS ALERT
Govt cuts excise duty on petrol and disel by Rs 1.50
Govt cuts excise duty on petrol and disel by Rs 1.50
3:18 PM
NEWS ALERT
Saw significant impact on market due to uncertainty surrounding IL&FS: FM Jaitley
Saw significant impact on market due to uncertainty surrounding IL&FS: FM Jaitley
3:17 PM
NEWS ALERT
Inflation is still moderate: FM Jaitley
Inflation is still moderate: FM Jaitley
3:16 PM
NEWS ALERT
Determined to ensure IL&FS situation should be contained: FM Jaitley
Determined to ensure IL&FS situation should be contained: FM Jaitley
3:15 PM
NEWS ALERT
Crude prices and rise in interest rates in US have led to significant impact on markets globally: FM Arun Jaitley
Crude prices and rise in interest rates in US have led to significant impact on markets globally: FM Arun Jaitley
3:09 PM
Russia, Saudi pump an extra 1 mn barrels of oil per day, market unmoved
Russia and Saudi Arabia are pumping an extra 1 million barrels a day of oil and could do even more. Yet the market doesn’t seem to care.
After their September meeting in Algiers spurred prices to a four-year high, the world’s two largest oil exporters sought to send a clearer signal to ease the price worries of consumers, and the U.S. president. READ MORE
3:00 PM
The World Bank slightly lowered its growth estimate for East Asia and the Pacific for next year as trade tensions and volatile capital flows cloud the global economic outlook.
The Washington-based lender said in a report on Thursday that the region's developing economies should use the "full range" of available macroeconomic policies to cushion the impact of external shocks. READ MORE
World Bank trims East Asia's 2019 GDP forecast on trade frictions
The World Bank slightly lowered its growth estimate for East Asia and the Pacific for next year as trade tensions and volatile capital flows cloud the global economic outlook.
The Washington-based lender said in a report on Thursday that the region's developing economies should use the "full range" of available macroeconomic policies to cushion the impact of external shocks. READ MORE
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First Published: Oct 04 2018 | 8:19 AM IST
