MUMBAI :Mumbai: BSE Sensex and NSE Nifty closed lower on Tuesday, breaking their eight-day winning streak dragged by market heavyweights such as Reliance Industries, Infosys, Sun Pharma and ICICI Bank. Traders are also cautious ahead of September-quarter gross domestic product (GDP) data due on 30 November. PSU bank, consumer durables and oil and gas stocks suffered most losses. Maruti, HDFC, Coal India and Asian Paints were the top gainers, whereas shares of NTPC, Bharti Airtel and Infosys fell. BSE Midcap and Smallcap rose 0.10% and 0.27%, respectively. Here are the latest updates from the markets:
Closing bell
BSE Sensex closed lower by 105.85 points, or 0.31%, at 33,618.59, while the Nifty 50 fell 29.30 points, or 0.28%, to close at 10,370.25.
Sectoral indices
Among the sectoral indices, the BSE Telecom fell most at 1.23% followed by consumer durables 0.87%, teck 0.64% and IT 0.56%. On the NSE, the Nifty PSU Bank fell 1%. Consumer discretionary and goods services, basic materials, FMCG, finance, auto and metal were trading in positive territory.
Market update
BSE Sensex traded lower by 115.88 points, or 0.34%, at 33,608.56, while the Nifty 50 fell 43.35 points, or 0.42%, to 10,356.20.
Rupee hits two-week high; bond yield edges down
The rupee was trading at 64.40 a dollar, up 0.16% from its Friday’s close of 64.50. The rupee opened at 64.49 a dollar and touched a high of 64.36—a level last seen on 20 September.After hitting 15 month high, bond yield fell marginally. The 10-year bond yield was at 7.055%, compared to its previous close of 7.056%. Bond yields and prices move in opposite directions.
BHEL shares rise on new order
Bharat Heavy Electricals Ltd (BHEL) said it has won an order for setting up six decentralised sewage treatment plants in Raipur, Chhattisgarh, reported Reuters. Shares were up 1.52% to Rs93.45.
Jindal Drilling receives contract from ONGC
Jindal Drilling and Industries Ltd said it has received a contract from Oil and Natural Gas Corp. Ltd for charter hire of offshore drilling rig. The company’s shares rose 2.35% to Rs165.50.
Market update
BSE Sensex traded lower by 69.37 points, or 0.21%, at 33,655.07, while the Nifty 50 fell 15.75 points, or 0.15%, to 10,383.80.
Top gainers and losers
Maruti, Tata Steel, HDFC and Coal India were the top gainers with gains to the tune of 1.16%, 0.98%, 0.94% and 0.61%, respectively. Meanwhile, shares of NTPC, ONGC and Power Grid fell 1.29%, 1.25% and 1.21%, respectively.
GMR plans IPO by June 2018
GMR Airports Ltd, which operates India’s largest airport in New Delhi, is meeting investment bankers across three days, starting Monday, as it prepares to launch its initial share offering (IPO) planned by June, a person aware of the matter told Mint.
Market update
BSE Sensex traded lower by 31.10 points, or 0.09%, at 33,693.34, while the Nifty 50 fell 3.40 points, or 0.03%, to 10,396.15.
Time Technoplast shares gain as brokerage firm raises price target
Time Technoplast Ltd rose 5.4% to Rs197.50 after Brokerage firm ICICI Direct initiated buy rating with price target of Rs230 a share.
Mahanagar Gas shares rise
Mahanagar Gas Ltd rose 2% to Rs1,125.55 after brokerage firm Motilal Oswal initiated Neutral rating with price target of Rs1,219 a share.
Rallis India shares up on stake sake
Rallis India Ltd rose 5% to Rs241.10 after Franklin Templeton mutual fund bought 17.81 lakh shares, or 0.9% stake, at Rs230 each.
ICICI Prudential’s Bharat 22 ETF rises 3.5% on market debut
The Bharat 22 exchange-traded fund (ETF), operated by ICICI Prudential Asset Management Co., rose as much as 3.5% on its debut on Tuesday, after the issue saw a robust response earlier this month.
ICICI Prudential's Bharat 22 ETF rises 3.50% on market debut https://t.co/sGWTzp4bIZ
— Livemint (@livemint) November 28, 2017
RCom shares fall 7% as China Development Bank files insolvency case
Reliance Communications Ltd fell 7% to Rs12.45 after China Development Bank has become the first lender to file a case against debt-ridden Reliance Communications Ltd (RCom) under the Insolvency and Bankruptcy Code.
Glenmark Pharma shares fall 2% after US FDA issues observations
Glenmark Pharmaceuticals Ltd fell 2% to Rs580.50 after CNBC reported that the US drug regulator issued seven observation to its Baddi unit.
Eris Lifesciences shares gain on outperform rating from Credit Suisse
Eris Lifesciences Ltd rose 3.5% to Rs673.25 after brokerage firm Credit Suisse initiated outperform rating with a price target of Rs770 a share.
Sensex, Nifty open lower
BSE Sensex opened lower by 44.92 points, or 0.13%, at 33,679.52, while the Nifty 50 fell 18.25 points, or 0.18%, to 10,381.30.
Rupee trades lower against US dollar
The Indian rupee on Tuesday was trading marginally lower against the US dollar, tracking losses in the Asian currencies market. The home currency was trading at 64.56 a dollar, down 0.08% from its Monday’s close of 64.50. The rupee opened at 64.49 a dollar.
Bond yield rises
India’s 10-year bond yield on Tuesday gained for sixth consecutive session to hit a 15-month high as traders were concerned on fiscal slippages after government’s goods and services tax collection slipped nearly 10% from a month ago. The 10-year bond yield was at 7.073%, a level last seen on 6 September 2016, compared to its previous close of 7.056%.
Asian currencies trade lower
Asian currencies were trading lower. China offshore spot was down 0.14%, Japanese yen 0.14%, South Korean won 0.12%, China renminbi 0.12%, Indonesian rupiah 0.11%, Malaysian ringgit 0.09% and Singapore dollar 0.07%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 92.917, up 0.03% from its previous close of 92.904.
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