Markets Live: Sensex ends down by 115 points; Nifty closes at 10,741

Closing bell

The Sensex ended lower by 114.94 points or 0.32 per cent at 35,432.39 and the Nifty down 30.95 points or 0.29 per cent at 10,741.25.

Domestic sentiment was hit as cautious investors factored in another rate increase this year after the central bank's monetary policy committee raised concerns over rising household inflationary expectations at its last meeting.

The rate-setting committee's members struck a balanced note on its rate stance going forward and cited rising inflation pressure due to high oil prices as the key reason for raising interest rates earlier this month, minutes of the June 6 meeting showed on Wednesday.

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“The RBI (Reserve Bank of India) minutes suggest probably one more hike this year, which, I believe is already discounted by the markets,” said Krish Subramanyam, co-head and equity adviser at Altamount Capital.

Sustained FII outflows and a weak rupee aided the downtrend. As per provisional data released yesterday, foreign portfolio investors had sold shares worth Rs 1,442.61 crore, while domestic institutional investors bought equities worth Rs 1,473.65 crore.

Sensex gainers, losers

Sectoral indices

Global market

Simmering trade and political tensions weighed on European and world shares, while oil prices were under pressure ahead of an OPEC meeting that could boost the global supply of crude. More on this

Bullion prices

Gold prices tumbled Rs 145 to Rs 31,570 per 10 grams at the bullion market due to fall in demand from local jewellers and retailers amid a weak trend overseas. Read more

5 ways to safeguard your personal property

Today, many businessmen have a substantial amount of their personal net worth tied to their businesses. And in the event of an economic downturn, they are pushed towards personal bankruptcy, including loss of house and property. The following five steps can safeguard your personal assets from creditors and potential lawsuits. Click here to read more

Sunshine plan for sunset years

For many of us, a big dream is to enjoy the sunset years without having to worry about financial commitments. This can be achieved if you plan and invest in appropriate asset classes early on. Click here to read more

Sensex gainers, losers

Nifty gainers, losers

Crude oil falls

Supply climb would come amid strong demand. File Photo

Oil prices fell as crude exporters in OPEC appeared to be nearing a deal to increase production. Benchmark Brent crude fell $1.10 a barrel to a low of $73.64 before recovering slightly to $73.74, down $1.00 by 0820 GMT. US light crude was 65 cents lower at $65.06. Click here to read more

The good and the bad of realty investments

Real estate is not our most-preferred investment asset. Nevertheless, there are some advantages of investing in real estate. Though there are several unique factors, it is important to consider the associated risks before you invest in realty. Click here to read more

Benchmark indices were trading flat as cautious investors factored in another rate increase this year after the central bank's monetary policy committee raised concerns over rising household inflationary expectations at its last meeting.

The rate-setting committee's members struck a balanced note on its rate stance going forward and cited rising inflation pressure due to high oil prices as the key reason for raising interest rates earlier this month, minutes of the June 6 meeting showed on Wednesday.

Click here to read more

“The RBI (Reserve Bank of India) minutes suggest probably one more hike this year, which, I believe is already discounted by the markets,” said Krish Subramanyam, co-head and equity adviser at Altamount Capital.

The Sensex was trading up 32.14 points or 0.09 per cent at 35,579.47 and the Nifty up 3.15 points or 0.03 per cent at 10,775.20.

“The trade war tensions are hovering on investor minds and they are probably just waiting for it to wane to make their next moves,” Subramanyam added, referring to the continued trade spat between the United States and China that pushed down markets earlier this week.

Top five Sensex gainers were ICICI Bank, HDFC, Adani Ports, Reliance and HDFC Bank, while the major losers were M&M, PowerGrid, ONGC, Sun Pharma and Asian Paints.

OPEC meet on Friday

OPEC's leader Saudi Arabia and Russia were trying to convince fellow oil producers to raise output from July to meet the rising global demand, with Iran still signalling it would support only a modest increase in supply. Read more

Hope of recovery for home buyers

The Insolvency and Bankruptcy Code has now been amended to classify home buyers as financial creditors. In the past, they were not part of any category of creditors — operational or financial. The code defines operational creditor as anyone to whom a debt with respect to operations — for goods and services — is owed. Click here to read more

Import duty on apple, other items from US hiked

In what could be seen as a retaliatory move. the Government has hiked the import duty on goods, including apples, walnuts and non-alloy steel being brought in from the US. The revised tariff will come into effect from August 4, 2018. Click here to read more

UTI Nifty Next 50 Index Fund

UTI Mutual Fund has announced the launch of UTI Nifty Next 50 Index Fund, an open-ended scheme that would replicate/track Nifty Next 50 index. It is a scheme that carries moderate risks. The NFO opened on June 8, and closes on June 22. Click here to read more

An unfair deal for minority shareholders

A protective framework for minority shareholders ensures a robust and dynamic secondary market for securities. As such, the laws aim at shielding the rights of minority shareholders in disadvantageous circumstances, ensuring that the market is safe and that the possibilities of them losing out on their monies are unlikely except when the market goes red. Click here to read more

Nifty 50 June Futures (10,764)

Traders can stay out of the market at the moment. However, short-term traders with high risk appetite can go short on a break below 10,745 with a tight stop-loss at 10,760 and for the target of 10,710. Click here to read more

Post-noon trade

The Sensex was trading down 69.61 points or 0.2 per cent at 35,477.72 and the Nifty down 21.4 points or 0.2 per cent at 10,750.75 due to profit-booking by investors amid mixed global cues.

Top five Sensex gainers were Adani Ports, ICICI Bank, Reliance, Vedanta and Tata Motors, while the major losers were PowerGrid, ONGC, M&M, Axis Bank and ITC.

Among BSE sectoral indices, PSU fell the most followed by healthcare, power and capital goods. On the other hand, consumer durables, IT and TECk found investors' support.

Shares crept higher in most major markets as a lull in the Sino-US trade tussle and talk of more stimulus in China helped calm nerves, though the nagging trade tensions caused Chinese shares to slip, dragging other Asian markets lower.

European shares are expected to rise, with spread-betters calling a higher opening of 0.4 percent in Britain's FTSE and France's CAC 40 and 0.3 percent in Germany's DAX.

China, HK stocks down

The CSI300 index fell 0.1 per cent to 3,632.75 points at the end of the morning session, while the Shanghai Composite Index lost 0.2 per cent to 2,909.81 points. The Hang Seng index dropped 0.6 per cent, to 29,508.79 points, and the Hong Kong China Enterprises Index lost 0.5 per cent to 11,443.10 points. Read more

Anmol Industries IPO

Anmol Industries plans to go public with an offer-for-sale of up to ₹750 crore by Baijnath Choudhary & Family Trust (₹720 crore), SKG Land Developers (₹22 crore), Delta Nirman (₹4 crore), Anmol Hi-Cool (₹2.5 crore) and Puneet Mercantiles (₹60 lakh). Click here to read more

Jindal Saw hits 10-month low

Shares of Jindal Saw Ltd dropped nearly 6 per cent to Rs 87.1, their lowest since August 11, 2017. The stock posted biggest intraday percentage loss since June 5. More on this

The Sensex and Nifty were trading marginally down due to profit-booking in PSU, power, oil & gas and healthcare stocks amid firm global cues. Only IT and TECk stocks found investors' support.

The BSE index was down 25.67 points or 0.09 per cent at 35,515.55 and the NSE index down 6.2 points or 0.06 per cent at 10,765.85.

Top five Sensex gainers were ICICI Bank, Adani Ports, Reliance, Vedanta and Infosys, while the major losers were PowerGrid, ONGC, M&M, Axis Bank and State Bank of India.

As per provisional data, foreign portfolio investors had sold shares worth Rs 2,442.61 crore on a net basis, while domestic institutional investors bought equities to the tune of Rs 1,473.65 crore yesterday.

RIL hits record high

Shares of Reliance Industries hit a record high, and technicals suggested further upside. Shares of the oil-to-retail conglomerate gained as much as 1.23 per cent to Rs 1,031.8, a record high. Click here to read more

BoM shares fall for 2nd straight day

Shares of Bank of Maharashtra extended their fall for a second straight day as the CEO was held over 'misuse of power'. The stock declined as much as 7.1 per cent to Rs 12.4. Click here to read more

Hinduja Leyland IPO

Hinduja Leyland Finance, a subsidiary of commercial vehicle major Ashok Leyland, has filed a draft red herring prospectus with SEBI to raise capital for its future requirements. More on this

MFs offload shares in PowerGrid

TIRUCHI, TAMILNADU, 10/03/2017: For Stand Alone: High voltage power transmission lines from the Power Grid in Tiruchi on Friday...Photo: B. Velankanni Raj

Mutual fund industry has offloaded 22 per cent of Power Grid Corporation shares worth ₹1,905 crore in May, as prospects of the company looked bleak with no major new power project being launched and a sharp decline in power generation. Click here to read more

Bank Nifty

The Bank Nifty index surged on Wednesday after the central bank announced that it would purchase government securities of up to Rs 10,000 crore that is expected to ease the current tight liquidity condition. The Bank Nifty June futures contract gained 353.80 points to close at 26,612.20 on Wednesday. The underlying value of the contract closed at 26,557.70. Click here to read more

Gold drops to 6-month low

Gold prices posted a six-month low, pressed down further by a firm dollar and as the US Federal Reserve Chair confirmed an outlook for higher interest rates in the United States. Read more

Rupee weakens to 68.24

The rupee slipped 16 paise to 68.24 against the US dollar in early trade due to fresh buying of the American currency by importers amid sustained foreign fund outflows.  More on this

Nikkei rises as trade jitters ease

Japan's Nikkei share average rose as investor jitters over trade issues that hit markets early this week appeared to recede, while technology stocks rallied on the Nasdaq strong performance overnight. Read more

Benchmark indices turned flat due to profit-booking by funds and retail investors in PSU, power, oil & gas and healthcare stocks amid firm global cues.

The Sensex was trading up 12.44 points or 0.03 per cent at 35,559.77 and the Nifty up 5.25 points or 0.05 per cent at 10,777.30.

Top five Sensex gainers were Adani Ports, ICICI Bank, Reliance, Tata Steel and L&T, while the major losers were PowerGrid, Wipro, ONGC, NTPC and State Bank of India.

The BSE index hit intraday high of 35,678.69 and the NSE index touched 10,804.40.

Hikal bonus issue

Shares of Hikal will turn ex-bonus on Friday. It is rewarding its shareholders with one bonus share for every two shares held. As the company has set June 25 as the record date, interested investors need to own the company’s shares by Thursday. Read more

Majesco

Majesco  has informed the exchanges that NTUC Income has selected Majesco Distribution Management and Majesco Digital Solutions to advance its distribution management operations. The company shares were trading up by 1.71 per cent at Rs 475.05 on the BSE.  Read more

Aster DM Healthcare

Zeba Moopen, an immediate relative of the promoters of Aster DM Healthcare , has bought 46,001 shares of the company for ₹85.68 lakh through market purchases on June 11 and June 13. Aster DM shares were trading up by 1.4 per cent at Rs 176.85 on the BSE. Read more

Broker's call

KNR Constructions (Buy)

CMP: ₹235.45

Target: ₹327

Click here to read more

Day Trading Guide

₹2055 • HDFC Bank

₹1243 • Infosys

₹263 • ITC

Click here to view the full guide

The 30-share BSE index Sensex gained 104.32 points to 35,651.65 against the previous close of 35,547.33 and the 50-share NSE index Nifty climbed 32.35 points to 10,804.40 against 10,772.05.

Today's stock pick

Walchandnagar Industries (₹156.8): Buy

Investors with a short-term perspective can buy the stock of Walchandnagar Industries at current levels. Following a medium-term downtrend from the January peak of ₹267, the stock found support in the long-term base zone between ₹130 and ₹135 in early June. Click here to read more

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