Nifty ends below 10,000-mark as Sebi order on shell firms hurts sentiment
All that happened in Tuesday's session
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Source: NSE
The benchmark indices extended losses for the second straight session on Tuesday as an unexpected regulatory order imposing trading restrictions on 331 listed entities identified as shell companies raised concerns about a wider probe into others.
The restrictions include limiting trading in the affected companies' stocks to once a month and curbs in the trading of shares held by the promoters and directors of the companies - raising fears of additional measures from the regulator.
Concerns about valuations also weighed on markets.
Overseas, Asian shares ended mixed as disappointing Chinese trade data clouded an otherwise bright outlook for global growth, leaving currencies and commodities becalmed in summer doldrums. European markets were also trading lower.
4:01 PM
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Vinod Nair, Head of Research, Geojit Financial Services
Market faced the heat of selling pressure and finally ended below 10,000 as the Sebi's call to put restrictions on shell companies raised concern in investor’s mind. In the meantime, the metal stocks stole the show which outperformed the major indices and countered the slid to some extent.
4:00 PM
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SEBI Order: VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The Sebi action against shell companies is part of the government's grand design to reset Indian economy. Demonetisation, GST, the crackdown on black money, and many more measures that will follow, will ultimately lead to a cleaner, healthier and faster growing economy. This is a highly desirable and welcome move.
3:47 PM![]()
Nifty Realty index leading sectoral loser
Shares of real estate companies were under pressure with Nifty Realty index losing nearly 5% intraday. Housing Development and Infrastructure Limited (HDIL), Indiabulls Real Estate, DLF and Unitech from Nifty Realty index were down more than 5% each.
Shares of real estate companies were under pressure with Nifty Realty index losing nearly 5% intraday. Housing Development and Infrastructure Limited (HDIL), Indiabulls Real Estate, DLF and Unitech from Nifty Realty index were down more than 5% each.
Source: NSE
3:43 PM![]()
Sensex heatmap at close
Source: BSE
3:40 PM![]()
Adavance-decline ratio
The market breadth depicted weakness. There were more than three losers against every gainer on BSE. 1,982 shares declined and 603 shares rose. A total of 122 shares were unchanged.
The market breadth depicted weakness. There were more than three losers against every gainer on BSE. 1,982 shares declined and 603 shares rose. A total of 122 shares were unchanged.
3:39 PM![]()
Broader markets underperform
Broader indices underperformed with the BSE Midcap and the BSE Smallcap indices losing over 1% each.
Broader indices underperformed with the BSE Midcap and the BSE Smallcap indices losing over 1% each.
3:38 PM![]()
Markets at close
The Sensex settled the day 259 points lower at 32,014, while the broader Nifty50 ended below its crucial 10,000-mark. The 50-share index quoted 9,978, down 78 points.
The Sensex settled the day 259 points lower at 32,014, while the broader Nifty50 ended below its crucial 10,000-mark. The 50-share index quoted 9,978, down 78 points.
3:25 PM![]()
Century Textiles hits lifetime high
Century Textiles & Industries surged 5% to hit its all-time high of Rs 1291 after the company's net profit spurted 1761.3% to Rs 120.24 crore for the June quarter.
Century Textiles & Industries surged 5% to hit its all-time high of Rs 1291 after the company's net profit spurted 1761.3% to Rs 120.24 crore for the June quarter.
3:10 PM![]()
European markets
European markets were trading lower. The pan-European STOXX 600 index was down 0.2%, while blue chips also fell 0.2%. Britain's FTSE 100 was also down 0.2%, as was Germany's DAX.
European markets were trading lower. The pan-European STOXX 600 index was down 0.2%, while blue chips also fell 0.2%. Britain's FTSE 100 was also down 0.2%, as was Germany's DAX.
3:08 PM![]()
Markets check
At 3:05 am, the Sensex was trading at 32,015, down 258 points, while the broader Nifty50 was ruling at 9,980, down 77 points.
At 3:05 am, the Sensex was trading at 32,015, down 258 points, while the broader Nifty50 was ruling at 9,980, down 77 points.
3:02 PM![]()
Nifty PSU Bank index, which has risen nearly 23% this year, lost as much as 2.8% with Bank of India and Punjab National Bank leading the fall. Nifty PVT Bank index was down 1.2%.
2:58 PM
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Nifty Bank underperforms Nifty50
Nifty Bank slips over 1%, led by losses in HDFC Bank, IndusInd Bank, Axis Bank and Kotak Bank
2:48 PM![]()
Nifty Metal top sectoral gainer led by gains in Vedanta, Hindalco and Tata Steel
Source: NSE
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First Published: Aug 08 2017 | 3:36 PM IST
