1. Telecom stocks pull Sensex down 90 points; Nifty settles below 8,510

Telecom stocks pull Sensex down 90 points; Nifty settles below 8,510

Benchmark indices BSE Sensex and NSE Nifty ended in red on Monday following heavy selling pressure in telecom stocks.

By: | New Delhi | Updated: July 18, 2016 4:18 PM
BSE Sensex, NSE Nifty, stock markets today Benchmark indices BSE Sensex and NSE Nifty ended in red on Monday following heavy selling pressure in telecom stocks. (Reuters)


Benchmark indices BSE Sensex and NSE Nifty ended in red on Monday following heavy selling pressure in telecom stocks. Sensex closed 89.84 points down at 27749.66, while Nifty settled 32.70 points down at 8,508.70.

Among the 51-components in the Nifty pack, Idea Cellular plunged the most — 5.76 per cent, followed by ONGC (down 5.17 per cent), Bharti Airtel (down 4.32 per cent), Bank of Baroda (down 3.44 per cent) and HUL (down 3.24 per cent). On the other hand, Bajaj Auto, Kotak Mahindra Bank, Sun Pharma, Bharti Infratel and Axis Bank gained 2.21 per cent, 1.02 per cent, 0.95 per cent, 0.92 per cent and 0.87 per cent, respectively.

Sectorwise, the BSE Auto and Information Technology index gained 0.35 per cent and 0.30 per cent. The BSE Telecom index stood top loser and plunged 3.23 per cent, followed by Oil & Gas index (down 1.61 per cent) and Realty index (down 1.32 per cent).

Telecom stocks plunged after Idea Cellular and Bharti Airtel slashed mobile internet rates to offer more value to customers.

Traders kept a close watch on the monsoon session of Parliament which started on Monday amid hopes the government will be able to pass the much-awaited GST Bill that is now stuck in the Upper House.

However, weakness in European counters too dampened the sentiments.

3.06 pm: Benchmark indices plunged further as Sensex was down 72.70 points at 27,763. Nifty was down 25.20 points at 8,516.

2.54 pm: ICICI Bank’s subsidiary, ICICI Prudential Life Insurance has filed a draft red herring prospectus with the Sebi. Shares of ICICI Bank were trading 0.25 per cent down at Rs 264.55.

Advanced Enzyme Technologies is coming out with a 100 per cent book building initial public offering (IPO) of 4,602,651 equity shares of face value of Rs 10 each in a price band Rs 880- 896 per equity share. The issue will open on July 20, 2016 and will close on July 22, 2016.

2.49 pm: Sensex was trading 17.40 points down at 27819. Nifty was down 8.45 points at 8535. In the 50-share index, Bajaj Auto, Tata Motors DVR, Axis Bank, Hindalco and Hero MotoCorp were up between 1.15 per cent and 2.20 per cent. On the other hand, Idea Cellular, Bharti Airtel, ONGC, BHEL and ZEEL were down between 1.83 per cent and 4.20 per cent.

1.27 pm: The BSE Sensex and NSE Nifty continued to trade firm in afternoon deals on account of buying by foreign funds and retail investors. Traders are eyeing the monsoon session of parliament, which begins on Monday, amid expectations that the key GST Bill may be passed soon.

1.03 pm: Sensex was trading 144.45 points up at 27980. Nifty was up 38.95 points at 8,580.

12.28 pm: Shares of Sun Pharma Advanced Research Company were trading 4 per cent up at Rs 365.65. Read more

12.06 pm: ONGC and Oil India were trading in red in the noon deals on reports that these companies may face an additional royalty burden of more than $1 billion as government has decided that royalty should be paid to crude oil-producing states such as Andhra Pradesh, Rajasthan, Assam, Gujarat and Tamil Nadu at ‘pre-discount’ rates. Read more

Sensex was trading 150 points up at 27,987.

11.55 am: Meanwhile, ICICI Prudential filed for an IPO, according to a draft prospectus released on Monday, in what will be the country’s first insurance sector IPO.

10.57 am: Meanwhile, HDFC Bank shares hit their new 52-week high of Rs 1,238.50 on Monday. The scrip was trading 1.01 per cent up at Rs 1,235.95. Sensex was up 153 points at 27989. Nifty was up 39.65 points at 8,581.

10.33 am: Moschip Semiconductor Technology gained over 10 per cent after the company reported net profit of Rs 0.15 crore against net loss of Rs 1.76 crore in the corresponding quarter last year. The scrip was trading at Rs 21.80.

Read more: Cheated by stock broker? Here is what you need to know

10.08 am: Hindustan Unilever (HUL) was trading 0.39 per cent down at Rs 935.95. The company will announce its financial results for the first quarter ended June 30, 2016 today.

9.37 am: Oil India and ONGC were trading 2.54 per cent and 1.26 per cent down at Rs 363.85 and Rs 227.55, respectively. Sensex was up 130 points at 27967. Nifty was up 34.65 points at 8,576.

9.16 am: The 30-share index was trading 109.17 points, or 0.39 per cent, up at 27945.67. The 50-share index was up 35 points at 8,576. Reliance Industries was trading 2.39 per cent up at Rs 1036.75. Should you invest? Read more

9.15 am: Sensex opened 84.16 points up at 27,920.66. Nifty opened 22.65 points up at 8,564.05.

8.45 am: Gruh Finance will also announce its quarter results for April-June period today. Shares of the company settled 1.34 per cent up at Rs 298.45 on Friday.

8.13 am: The BSE Sensex and NSE Nifty are likely to open in green on Monday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and firm global cues.

At 7.59 am (IST), SGX Nifty was trading 21.50 points up at 8,582.

Asian peers were trading higher in the morning trade.

Hinudstan Unilever is slated to announce its financial results for the first quarter ended June 30, 2016 on Monday.

Reliance Industries on Friday reported higher-than-expected 18 per cent rise in June quarter net profit on account of highest refining margin in eight years. Consolidated bottom line of the company stood at Rs 7,113 crore in the April-June period was 18.1 per cent higher than Rs 6,024 crore in the same period last year.


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