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Closing be ll
The Sensex ended lower by 137 points as subdued global cues hurt risk appetite despite better-than-expected Dec-quarter gross domestic product (GDP) data.
Banking stocks, particularly state-run were among the biggest laggards on unabated nervous off-loading by participants amid growing concerns over a spate of fraud cases.
Select auto stocks, however, were in some demand on the back of encouraging February sales numbers.
The 30-share benchmark , after scaling a high of 34,278.63 in early deals, slipped into the negative zone to touch 34,015.79, before settling at 34,046.94, down 137.10 points, or 0.40 per cent.
The 50-share NSE Nifty too lost 34.50 points, or 0.33 at 10,458.35 after shuttling between 10,525.50 and 10,447.15.
For the week, the flagship Sensex recorded a fall of 95.21 points, or 0.27 per cent, while the NSE Nifty lost 32.70 points, or 0.31 per cent. - Agencies
BSE sectoral indices
Top gainers, losers
Click here to view the full table
Global markets
World stock markets entered March on shaky ground, falling for the third straight day before the second leg of Federal Reserve chief Jerome Powell's testimony to lawmakers. Read more
MSCI's all-country equity benchmark fell 0.4 per cent after snapping a record 15-month long winning streak in February, while European stocks lost almost 1 per cent.
European markets
European shares slid as a flurry of uninspiring earnings updates from retailer Carrefour and advertiser WPP kept the mood downbeat, while broader jitters over tightening monetary policy spilled over into March. Read more
The pan-European STOXX 600 index was down 0.5 per cent in early deals, while Germany’s DAX fell 0.7 per cent. Britain’s FTSE felt the weight of Brexit uncertainty with a 0.3 per cent loss.
Larsen & Toubro’s construction arm has won orders worth Rs 1,593 crore across business segments. Read more
L&T said water and effluent treatment business has bagged an order worth Rs 1,058 crore.
The Sensex was trading down by nearly 130 points as subdued global market sentiment offset better-than-expected GDP data. The BSE index was trading down 127.72 points or 0.37 per cent at 34,056.32 and the NSE index down 35.95 points or 0.34 per cent at 10,456.90.
Among BSE sectoral indices, metal index fell the most by 0.9 per cent, banking 0.88 per cent, consumer durables 0.76 per cent and realty 0.75 per cent.
Top five Sensex gainers were Coal India, IndusInd Bank, Tata Steel, ONGC and HUL, while the major losers were ICICI Bank, SBI, Infosys, YES Bank and Reliance.
Markets to remain closed tomorrow
All wholesale commodity markets, including those of metals and bullion, will be closed tomorrow on account of Holi. The BSE, NSE, forex and commodity futures markets will also be shut.
No expenditure cut to meet fiscal deficit target
The government will not go for an expenditure cut in 2017-18 to meet the fiscal deficit target of 3.5 per cent of GDP even as it has breached the level of 113.7 per cent of the target. Read more
ONGC seeks shareholders' nod
Oil and Natural Gas Corp has sought shareholders' approval for its decision to buy government’s 51.11 per cent stake in Hindustan Petroleum Corp Ltd for Rs 36,915 crore. Read more
ONGC said it was seeking shareholder “ratification through postal ballot. File Photo
I-T dept attaches Nirav Modi's assets
The Income-Tax Department has attached diamantaire Nirav Modi’s four immovable assets, including a farm house and a solar power plant, worth Rs 70 crore in connection with a tax evasion probe against him and his companies. Read more
File photo of a 'Nirav Modi' luxury diamond jewellery showroom in New Delhi.
Fitch upgrades JSW Steel rating
Fitch Ratings has upgraded JSW Steel rating to stable from negative on the back of measured approach to capacity expansion enabling it to deleverage steadily over the years. Read more
Risks to Indian steelmakers' margins are relatively lower due to regulatory protection
The Sensex and Nifty were trading flat as subdued global market sentiment offset better-than-expected GDP data. The BSE index was trading down 20.23 points or 0.06 per cent at 34,163.81 and the NSE index up 3.55 points or 0.03 per cent at 10,496.40.
Top five Sensex gainers were IndusInd Bank, Coal India, Bharti Airtel, M&M and Kotak Bank, while the major losers were State Bank of India, ICICI Bank, Infosys, Hero MotoCorp and ITC.
Bank stocks were among the biggest laggards, with ICICI Bank and State Bank of India falling 2.68 per cent and 1.75 per cent, respectively.
The NSE index has shed 0.8 percent in the last two trading sessions, dragged lower by state-run banks, after Punjab National Bank said fraudulent transactions could rise to $2 billion, while certain directives from the finance ministry added to short-term woes.
The index fell 4.85 per cent in February, while the BSE index dropped 4.95 per cent during the same period. Both indexes posted their biggest monthly fall in two years.
Auto stocks, however, rose, with Bajaj Auto Ltd up 2 per cent and Tata Motors Ltd 1.7 per cent higher. Automobile companies are set to report February sales numbers throughout Thursday.
Fortis posts loss for Sept, Dec quarters
Fortis Healthcare has reported a consolidated net loss of ₹19.10 crore for the quarter ended December 2017 against a profit of ₹453.29 crore in the year ago period. Read more
fortis
Why the Centre needs to review its recap plan
After the PNB scam broke about two weeks back, there has been an erosion of about ₹32,000 crore in the Centre’s holding in 21 PSBs. Click here to read more
Drive home the point
Apart from the banking sector, it is probably the auto industry that has been in the limelight very often in the last one to two years. Read more
Fix the broken system of banking first
The PNB scam is the latest in a long list of sordid episodes and could be missed for what it really is — another inglorious NPA added to an overflowing pile. Read more
BL11_PG1_BROKER
Nifty futures
The contract is range-bound. Desist taking fresh positions as long as it trades between 10,480 and 10,520. Read more
The contract is range-bound. Desist taking fresh positions as long as it trades between 10,480 and 10,520
The Sensex and Nifty were trading flat as subdued global market sentiment offset better-than-expected GDP data. The BSE index was trading down 20.34 points or 0.06 per cent at 34,163.70 and the NSE index up 4.65 points or 0.04 per cent at 10,497.50.
Among BSE sectoral indices, IT, TECk, metal and consumer durables stocks succumbed to selling pressure.
Top five Sensex gainers were Bharti Airtel, Tata Steel, IndusInd Bank, M&M and Tata Motors, while the major losers were ICICI Bank, Infosys, State Bank of India, Hero MotoCorp and ITC.
“Though the GDP data is positive, overall global concerns are still hurting domestic markets,” said Aditya Agarwal, head -technical research, Way2Wealth.
“The NSE index is range-bound between 10,300 and 10,650, with concerns on state-bank stocks in the near term,” Agarwal said.
Term of the week: Annuity
An annuity plan covers the financial risk of an individual living ‘too long’. Click here to read more
Risks and returns in pre-IPO investment
Pre-IPO investing is buying unlisted equity shares of the company prior to the planned IPO. Read more
istock.com/hanibaram
All about 'waiting period'
If you think you will get health cover from day 1 of your signing up a health insurance policy, you are mistaken. Click here to read more
Go for retirement MFs, save on tax
Come March 31, and it is tax saving time. Some of the investment options that qualify for deduction under Section 80C on the debt side are five-year tax-saving fixed deposits from banks and post office and public provident fund. Read more
istock.com/GODS_AND_KINGS
The Sensex was trading down by nearly 80 points on selling pressure in power, IT, banking and TECk stocks amid weak global cues.
However, oil & gas, capital goods and auto stocks remained investors' favourite. The BSE index was down 78.05 points or 0.23 per cent at 34,105.99 and the NSE index down 16.8 points or 0.16 per cent at 10,476.05.
Top five Sensex gainers were Bharti Airtel, Tata Motors, Bajaj Auto, Axis Bank and M&M, while the major losers were ICICI Bank, PowerGrid, Infosys, State Bank of India and ITC.
The Sensex touched intraday high of 34,278.63 and the Nifty touched 10,523.55 after the Central Statistics Office pegged third-quarter GDP growth at a 15-month high of 7.2 per cent led by robust expansion in manufacturing, trade and hotels as well as construction.
Besides, the combined index of the eight core sectors, including coal, steel, cement and petroleum, rose 6.7 per cent in January from 3.4 per cent in the same month a year ago.
China stocks rally
At 04:03 GMT, the Shanghai Composite index was up 19.67 points or 0.6 per cent at 3,279.08. Read more
China’s blue-chip CSI300 index was up 0.9 per cent, with its financial sector sub-index rising 0.88 per cent, the consumer staples sector up 1.96 per cent, the real estate index up 0.1 per cent and healthcare sub-index up 1.09 per cent.
Gold dips as dollar remains strong
Spot gold was 0.2 per cent lower at $1,315.36 an ounce at 0106 GMT. Prices have fallen about 1 per cent so far this week. US gold futures were down 0.1 per cent at $1,316.7 per ounce. Read more
Spot gold was 0.2 per cent lower at $1,315.36 an ounce at 0106 GMT.
Dollar hits 5-week high
The dollar index rose to five-week high of 90.746, as Powell's optimism on the US economy suggested the Fed is going to raise interest rates four times this year, one more than what markets had expected. Read more
The dollar index rose to five-week high of 90.746. File Photo
Oil extends decline on inventory build
US West Texas Intermediate crude for April delivery was down 11 cents at $61.53 a barrel by 0100 GMT after settling down $1.37. Read more
US crude oil production rose to a record 10.057 million barrels per day (bpd) in November. File Photo
Rupee drops to 65.25
The rupee depreciated 8 paise to 65.25 against the US dollar in early trade. Read more
The rupee depreciated 8 paise to 65.25 against the US dollar in early trade
Asian markets
Asian stocks were down after comments from the Federal Reserve's new chief rekindled fears about the pace of US monetary tightening this year, sending Wall Street tumbling for its worst performance in two years and lifting the dollar. Read more
Federal Reserve Chairman Jerome Powell speaks on a television as traders work on the floor of the New York Stock Exchange in New York, US.
Will product price hike help MOIL
MOIL has fixed/revised prices of different grades of Manganese Ore and other products, effective March 1. The company shares were trading up by 2.19 per cent at Rs 226 on the BSE. Read more
Buyback offers
The respective buyback offers of Pidilite Industries and Savita Oil Technologies open for subscription today. Read more
L&T Technology
Shares of L&T Technology Services will remain in focus, as its promoter Larsen & Toubro plans to sell stake in the company to maintain the minimum public shareholding. Read more
The Sensex and Nifty were trading flat due to lack of directional cues from global markets. The BSE index was down 2.56 points or 0.01 per cent at 34,181.48 and the NSE index up 19.15 points at 10,512.
Among BSE sectoral indices, metal index gained the most by 0.53 per cent, followed by auto 0.49 per cent, realty 0.48 per cent and capital goods 0.4 per cent.
Day Trading Guide
Supports and resistances for Nifty 50 futures and seven key stocks are given in the table that can help in your intra-day trading. Click here
BHEL has paid 40 per cent interim dividend on enhanced equity capital post-bonus for the financial year 2017-18. The company shares were trading up by 1.17 per cent at Rs 91.05 on the BSE. Read more
Granules India subsidiary Granules Pharmaceuticals, Inc has received EIR for its unit located at Chantilly, Virginia. The company shares were trading up 0.04 per cent at Rs 118.45 on the BSE. Read more
Today's stock pick
V-Guard Industries (₹239.9)
Investors with a short-term horizon can buy the stock of V-Guard Industries at current levels. Read more
Did you know? V-guard has an asset light model with 60 per cent of its products manufactured by outside vendors
9.10 am
The Sensex opened lower by 42.82 points at 34,141.22 against the previous close of 34,184.04 and the Nifty opened down by 12.9 points at 10,479.95 against Wednesday's close of 10,492.85.
Wall Street
US stocks had sold off late to end sharply lower on Wednesday, dragged down by continued worries over rising interest rates, and the Dow and S&P 500 capped their worst months since January 2016. Read more
Wednesday’s declines closed a month marked by spikes in volatility and fears that rising inflation could prompt the Federal Reserve to pick up the pace of interest rate hikes.
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