Sensex sheds 216 points; Nifty slips below 9,900; Natco Pharma drops 11%
Spillover of the 'shell' shock, a flareup in geopolitical tensions following North Korea’s nuclear tests, dozens of quarterly earnings are likely to keep Wednesday’s session volatile on Dalal Street. Watch this space as we bring you LIVE updates of the proceedings from Dalal Street.
1 New Update
03:54:18 PM IST, 09 August 2017
CLOSING BELL: SENSEX SHEDS 216 POINTS
The 30-share pack opened at 31,926.14 and touched an intraday high and low of 31,967.28 and 31,743 respectively. Shares of Sun Pharma (down 5.48 per cent), Adani Ports (down 4.32 per cent), Tata Motors (down 3.58 per cent) and Cipla (down 3.36 per cent) were the major drags on the index.
03:19:04 PM IST, 09 August 2017
SENSEX PLUNGES OVER 700 POINTS IN 7 SESSIONS
After rising over 5 per cent in July 2017, benchmark BSE Sensex plunged over 500 points, or 1 per cent in August so far. The 30-share BSE Sensex breached its psychological levels of 32,000 in Wednesday’s trade. The NSE Nifty index dipped below 10,000-mark on Tuesday. Going by the buzz on Dalal Street, here are the top five factors that dampened the rally in the domestic market.
02:56:35 PM IST, 09 August 2017
NSE CUTS CHARGES ON CURRENCY FUTURES TO DEEPEN MARKET
Looking to bring in more liquidity in derivatives, the National Stock Exchange (NSE) has significantly lowered transaction charges in currency futures. The decision is expected to help in reducing trading and hedging costs for various entities, including small and medium enterprises.
02:18:50 PM IST, 09 August 2017
INSECTICIDES INDIA GAINS OVER 4% POST Q1 RESULTS
Shares of Insecticides (India) advanced over 4 per cent after the company reported 67 per cent year-on-year rise in net profit at Rs 30.50 crore for the quarter ended June 30, 2017 against Rs 18.22 crore in the corresponding quarter last year.
02:02:17 PM IST, 09 August 2017
TRADING IN A DOZEN SUSPECTED ‘SHELL’ FIRMS TO RESUME WITHIN A WEEK
Finance Ministry on Wednesday said that trading in about a dozen of suspected ‘shell’ companies will resume in a week's time, ET Now reported. The ministry said that it has taken actions against some companies that saw a spike in trade during the note ban. MCA has identified some of the 311 suspected shell companies to be violating Income Tax rules, it said.
01:18:42 PM IST, 09 August 2017
NIFTY REALTY INDEX TURNS GREEN; HDIL, DLF TOP GAINERS
Shares of Housing Development & Infrastructure (up 4.26 per cent), Prestige Estates Projects (up 2.16 per cent), DLF (up 1.34 per cent), Oberoi Realty (up 1 per cent) and Delta Corp (up 0.74 per cent) helped Nifty Realty index turn green in Wednesday's afternoon session.
12:58:06 PM IST, 09 August 2017
8 BHANGAAR STOCKS THAT MADE INVESTORS CROREPATIS
Ill-informed retail investors often try to judge a stock by its price alone, and tend to show preference for low-priced ones. Penny stocks, or ‘bhangaar’ stocks as they are called in market parlance, are extremely risky and often make investors pay heavy price. But if one gets it right on fundamentals, they can be hugely rewarding.
12:38:56 PM IST, 09 August 2017
JINDAL STEEL ADVANCES OVER 2% AS NET LOSS NARROWS IN Q1
Shares of Naveen Jindal-led Jindal Steel and Power (JSPL) advanced as much as 2.80 per cent in early trade on Wednesday after net loss of the company narrowed down to Rs 420.40 crore for the quarter ended June 30, 2017. It had posted a consolidated net loss of Rs 1,238 crore during the same quarter last year.
12:11:26 PM IST, 09 August 2017
NEARLY 70 STOCKS HIT FRESH 52-WEEK LOW TODAY
Nearly 70 stocks, including 3i Infotech, Aarvee Denims & Exports, Ajanta Pharma, Dr. Reddy's Laboratories, Energy Development Company, GTPL Hathway, Housing Development and Infrastructure, JBF Industries, Jindal Photo, Lupin, NDTV, OnMobile Global, Sintex Plastics Technology, Sun Pharmaceutical Industries and Tata Motors hit their fresh 52-week low on NSE in Wednesday's trade.
11:46:59 AM IST, 09 August 2017
BSE BANKEX EXTENDS LOSSES; SBI LONE GAINER
Extending the losses for the second session, the BSE Bankex index was trading in red with shares of Axis Bank (down 1.70 per cent), ICICI Bank (down 0.80 per cent), HDFC Bank (down 0.70 per cent) and Bank of Baroda (down 0.64 per cent) as the top losers.
11:32:12 AM IST, 09 August 2017
'SHELL' COMPANY STOCKS SURGED UP TO 188% IN '17
Some 36 lakh stock investors, including ace stock pickers like Rakesh Jhunjhunwala and several top mutual funds, got a raw deal in the Sebi crackdown on 'shell' companies, as their investments got stuck due to trading restrictions on some 331 stocks.
11:10:39 AM IST, 09 August 2017
HDIL EXTEND LOSSES, DOWN 45% IN FIVE SESSIONS
Shares of Mumbai-based developer HDIL declined over 13 per cent in Wednesday’s trade to take its losing streak to fifth session in row. The stock fell 13.32 per cent to hit a low of Rs 47.15 on BSE. At this price, the scrip was down 45 epr cent from August 2 closing of Rs 85.85. HDIL’s subsidiary Guruashish Constructions has gone into bankruptcy proceedings following a Rs 250-crore default on its Goregaon project.
10:26:20 AM IST, 09 August 2017
HINDALCO, SUN PHARMA MOST ACTIVE STOCKS IN TERMS OF VOLUME
Shares of Hindalco Industries (number of shares traded: 0.40 crore), Vedanta (0.31 crore), DLF (0.30 crore), Sun Pharma (0.22 crore), HPCL (0.18 crore), ICICI Bank (0.16 crore) and State Bank of India (0.16 crore) were among the most active stocks in terms of volume on NSE.
10:05:31 AM IST, 09 August 2017
SUN PHARMA HITS 4-YEAR LOW ON WEAK TARO RESULTS
Shares of pharma major Sun Pharmaceuticals tumbled over 4 per cent to hit a a four-year low in Wednesday's trade after the company's majority-owned US subsidiary Taro Pharmaceutical Industries reported weak set quarterly numbers.
09:48:08 AM IST, 09 August 2017
LANCO INFRATECH SHARES HIT LOWER CIRCUIT
Shares of Lanco Infratech hit lower circuit on reports that NCLT that had approved insolvency proceeding against the company. Debt of Rs 44,365 crore was identified by RBI for insolvency of Lanco Infratech, according to a report by ET Now.
09:18:55 AM IST, 09 August 2017
OPENING BELL: SENSEX SLIPS OVER 100 POINTS
Sensex slips over 100 pts; Nifty below 9,950; Sun Pharma, GMR Infra shed 4% each; Hindalco up 3%.
09:05:11 AM IST, 09 August 2017
PRE-OPEN SESSION: SENSEX EDGES LOWER
Sensex inches lower; Nifty50 above 10,050; Rupee trades at 63.77 against US Dollar.
08:37:22 AM IST, 09 August 2017
SIGNAL FROM SINGAPORE
SGX Nifty was down 29.50 points, or 0.30 per cent, at 9,977.50 around 8.30 am (IST), indicating a negative start for NSE Nifty index.
08:36:42 AM IST, 09 August 2017
NIFTY TECHNICAL CHARTS
The index made a solid bear candle on the daily chart. Besides, it made lower top lower bottom formation, which analysts say has left the index vulnerable to further correction.
08:36:21 AM IST, 09 August 2017
KEY EARNINGS TO WATCH OUT FOR
Tata Motors, Aurobindo Pharma, Eicher Motors, Nalco, NMDC, MMTC, PTC India Financial and Thomas Cook are some of the companies scheduled to report quarterly earnings on Wednesday. Others include NHPC, Parag Milk and Nagarjuna Fertilizers.
08:35:18 AM IST, 09 August 2017
ASIAN MARKETS DROP ON GEOPOLITICAL CONCERNS
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent in early trading, while Japan's Nikkei was 1.2 percent lower as the stronger yen sapped investors' appetite. South Korean shares were down 0.9 percent and the won was 0.6 percent lower at 1,134.10.
08:34:45 AM IST, 09 August 2017
CRUDE OIL PRICES FALL ON TUESDAY
Oil prices settled lower after a volatile session on increasing exports from key OPEC producers and news of lower crude shipments from Saudi Arabia. Crude briefly pared losses in late trading after U.S. inventories fell more than expected last week, Reuters reported. US crude fell 0.55 percent to $49.12 per barrel and Brent was last at $52.03, down 0.65 percent on the day.
08:33:14 AM IST, 09 August 2017
US STOCKS ENDED LOWER OVERNIGHT
The Dow Jones Industrial Average ended 33.08 points, or 0.15 per cent, down at 22,085, snapping a nine-day streak of closing records. The S&P500 index lost 5.99 points, or 0.24 per cent, to close at 2,474. The Nasdaq Composite dropped 13.31 points, or 0.21 per cent, to 6,370.
08:31:57 AM IST, 09 August 2017
SENSEX ON TUESDAY
Selling frenzy gripped stocks, pushing the headline S&P BSE Sensex 259 points lower to 32,014 with steel major Tata Steel being the top gainer (up 2.63 per cent) and Dr Reddy's (down 5 per cent) the worst laggard. NSE benchmark Nifty shed 79 points to close the session below 10,000 at 9,978. After nine sessions, the 50-share index settled the day below the 10,000 mark.
08:30:20 AM IST, 09 August 2017
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