Share Market today: Sensex closes 159 pts lower on weak global cues, Nifty slips 57 pts; NTPC, Bhari Airtel down 3%

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Updated:Jul 02, 2018 4:13:13 pm

Share market today: Sensex closed lower by 159.07 points or 0.45% at 35,264.41 points. The Nifty closed 57 points or 0.53% lower at 10,657.30 points. Negative global cues, along with continuous outflow of foreign funds, hampered investors' risk-taking appetite. However, strong buying in blue-chips shares of Infosys, Asian Paints, Vedanta, Bajaj Auto, ICICI Bank, Sun Pharma, Axis Bank trimmed losses of benchmark Sensex, which recovered over 150 points from its day's low. 

Share Market today: Sensex, Nifty closed in the negative territory.

The Sensex closed Monday’s trade at 35,264.41 points, down 159.07 points or 0.45% from its Friday’s close. The Nifty settled above the 10,650-level, closing 57 points or 0.53% lower at 10,657.30 points.  Negative global cues, along with continuous outflow of foreign funds, hampered investors’ risk-taking appetite. However, strong buying in shares of IT majors Infosys and TCS, along with other blue-chips like Asian Paints, Vedanta, Bajaj Auto, ICICI Bank, Sun Pharma, Axis Bank trimmed losses of benchmark Sensex, which recovered over 150 points from its day’s low.

“Nifty commenced the day against all odds as selling pressure intensified right from the word go. It did respect the 10600 support which has witnessed highest PE OI built up at the beginning of the series & saw some recovery in the latter half of the day. Going ahead any slippages below 10,600 could trigger the confidence of PE writers and push the index lower towards 10,500-10,440 zone,” Sacchitanand  Uttekar, Assistant Vice-President, Research at Tradebulls, told FE Online.

Shares of RITES marked a blockbuster stock market debut on Monday with share price rallying more than 11% on listing on BSE and NSE after the state-owned construction and engineering firm successfully concluded its Rs 460 crore IPO in June. The shares of Fine Organic listed at Rs 815 on NSE, implying a premium of 4.08% from the issue price of Rs 783.

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    16:12 (IST)02 Jul 2018
    Sensex closes 159 pts lower on weak global cues, Nifty slips 57 pts; NTPC, Bhari Airtel down 3%

    The Sensex closed Monday's trade at 35,264.41 points, down 159.07 points or 0.45% from its Friday's close. The Nifty settled above the 10,650-level, closing 57 points or 0.53% lower at 10,657.30 points.  Negative global cues, along with continuous outflow of foreign funds, hampered investors' risk-taking appetite. However, strong buying in shares of IT majors Infosys and TCS, along with other blue-chips like Asian Paints, Vedanta, Bajaj Auto, ICICI Bank, Sun Pharma, Axis Bank trimmed losses of benchmark Sensex, which recovered over 150 points from its day's low. 

    "Nifty commenced the day against all odds as selling pressure intensified right from the word go. It did respect the 10600 support which has witnessed highest PE OI built up at the beginning of the series & saw some recovery in the latter half of the day. Going ahead any slippages below 10,600 could trigger the confidence of PE writers and push the index lower towards 10,500-10,440 zone," Sacchitanand  Uttekar, Assistant Vice-President, Research at Tradebulls, told FE Online.

    On the Sensex, Bharti Airtel and NTPC shares closed with losses of over 3%, Adani Ports lost over 2%. HDFC twins, Reliance Industries, ONGC, Coal India, Hero MotoCorp shares closed with losses of over 1%. On the contrary, Asian Paints closed with gains of 2.29%, Infosys 2.12%, Vedanta 1.25% and Bajaj Auto shares closed 1% higher.

    Shares of RITES marked a blockbuster stock market debut on Monday with share price rallying more than 11% on listing on BSE and NSE after the state-owned construction and engineering firm successfully concluded its Rs 460 crore IPO in June. The shares of Fine Organic listed at Rs 815 on NSE, implying a premium of 4.08% from the issue price of Rs 783.

    16:00 (IST)02 Jul 2018
    Sensex fell 472 points from intraday high today

    Why Sensex fell 472 points from intraday high today: 4 reasons for the drop

    The S&P BSE Sensex index lost nearly 472 points from the day’s high in the intraday dealings on Monday with equity shares of blue-chip companies Reliance Industries (RIL) and HDFC Bank contributing heavily to the index losses. Shares of India’s second-largest IT company Infosys and Asian Paints were the only notable gainers which rose more than 2% each among the components of BSE Sensex on Monday.

    15:39 (IST)02 Jul 2018
    "Overall we continue to maintain a bearish outlook and would not advocate entering fresh longs at his point." - Zerodha

    "Markets opened the day flat and corrected until noon to reach its lowest point at 1 pm, a rally which began at 1 pm reversed markets course and took the indices higher recovering most of the losses for the session. FIIs fund outflows continue in July, in total, they have sold close to 47,000 crore for this year already. Sectorally IT continues to outperform with Infosys the best performer of the session, NTPC, Ambuja cement, and Bharti were the worst performers for the session. Overall we continue to maintain a bearish outlook and would not advocate entering fresh longs at his point."

    -Nikhil Kamath, Co-Founder, Zerodha

    15:33 (IST)02 Jul 2018
    Closing bell: Sensex closes 159 points lower, Nifty settles at 10,650

    At 3.30 p.m., the Sensex closed 159.07 points or 0.45% lower at 35,264.41. The Nifty of the National Stock Exchange fell 63.90 points or 0.60% to close at 10,650.40 points.  On the Sensex, shares of NTPC and Bharti Airtel closed 3% lower, while Infosys was the top gainer.

    15:25 (IST)02 Jul 2018
    Rupee slide on FPI flows dip may lead to NRI bonds issue: Bank of America Merill Lynch

    A Bank of America Merill Lynch report said that the rupee will slide to Rs 70 to a dollar level if portfolio flows do not revive by December, and this may lead the government to raise money by selling bonds to the diaspora again, PTI reported. If the foreign portfolio investment flows do not revive by December, the rupee will depreciate further to over Rs 70 to a dollar, analysts at Bank of America Merill Lynch said in a note. Such an eventuality may lead the government to look at getting foreign inflows through the NRI bonds, which has been done thrice earlier, it said. "The trigger for actual issue will likely be delay in revival of FPI flows till, say, December driving the rupee beyond Rs 70 per USD," it said.

    15:11 (IST)02 Jul 2018
    Bharat Hotels files Rs 1,200-cr IPO papers

    Bharat Hotels, which runs five-star properties under 'The LaLiT' brand, has filed draft prospectus with Sebi to garner Rs 1,200 crore through its initial share-sale, PTI reported. According to the draft papers filed with the Securities and Exchange Board of India (Sebi), the initial public offer (IPO) comprises sale of fresh equity shares to the tune of Rs 1,200 crore. Proceeds of the issue will be utilised towards repayment of certain loans availed by the company for other general corporate purposes. HDFC Bank Ltd, Edelweiss Financial Services Ltd and YES Securities (India) Ltd will manage the company's public issue.

    15:08 (IST)02 Jul 2018
    Sebi directs HDFC AMC to scrap pre-IPO share-sale to distributors

    HDFC AMC IPO: Sebi directs firm to scrap pre-IPO share-sale to distributors; return money

    Markets watchdog Sebi has asked HDFC AMC, the country's second-largest mutual fund house, to cancel the shares allotted to distributors and advisers, ahead of its initial public offering, PTI reported officials as saying. Also, the Securities and Exchange Board of India (Sebi) directed the fund house to return the money it had collected from distributors and independent financial advisers, at the rate of 12 per cent, they added.

    15:06 (IST)02 Jul 2018
    Gold, silver prices in New Delhi fall today

    Gold, silver prices in New Delhi fall today: Check latest prices of 99.9% purity gold, silver coins

    Gold prices shed Rs 20 to Rs 31,400 per ten grams at the bullion market today amid a weak trend overseas and easing demand from local jewellers. Silver also remained under selling pressure and lost Rs 250 at Rs 40,350 per kg owing to reduced offtake by industrial units and coin makers.

    14:16 (IST)02 Jul 2018
    Sensex, Nifty recoup losses; TCS, Infosys shares gain

    The Sensex recouped almost 172 points from its day's low to trade at 35278.62 points. Bluechip shares of Infosys, TCS, Asian Paints, Bajaj Auto, ICICI Bank, Sun Pharma helped the Sensex index to trim losses. The Nifty recovered over 50 points to trade at 10,661.50 points.

    13:35 (IST)02 Jul 2018
    "Even decline in crude prices failed to cheer investors' mood" - Equity99

    "On-going concerns of implementation of $34 billion US tariffs on Chinese products later this week seems to have spoiled investors' mood with all sectoral indices traded in the red except IT, while the Nifty Midcap index lost over a per cent. Mixed clues from other Asian stocks also added to the investors' sentiment. Even decline in crude prices failed to cheer investors mood. Crude oil prices fell by more than one per cent on news of an increase in supply from top exporter Saudi Arabia and as there are some signs of an economic slowdown in Asia which may dent the outlook for demand. Brent crude oil futures were at $78.30 per barrel, down 1.17 per cent, from their last close," said Rahul Sharma, Senior Analyst, Equity99.

    "On another hand, China's official manufacturing Purchasing Managers' Index (PMI) declined to 51.5 for the month of June. The figure still came in above the 50-point level indicating growth. While in Japan, confidence among large manufacturers weakened for the second straight quarter in three months to June amid growing concerns about the potential impact of trade friction on the global economy. The main index measuring large manufacturers' sentiment was at plus 21 in the April-June period, compared with plus 24 in the previous survey in March, according to the Bank of Japan's quarterly 'tankan' survey," Sharma told FE Online.

    13:26 (IST)02 Jul 2018
    Nifty tests 10,600-level

    The Nifty dropped 109 points to an intra-day low of 10,604.65 points as investors continued to book profits in index heavyweights. Around 1.20 p.m., the Nifty slipped by 104.50 points or 0.98% to trade at 10,609.80 points. Shares of Vedanta, Adani Ports, Hindalco, NTPC, Yes Bank, IOC, ONGC were among the top losers on the NSE. 

    13:02 (IST)02 Jul 2018
    Vedanta Resources to delist from London Stock Exchange

    Billionaire Anil Agarwal-led Vedanta Resources plc will delist from the London Stock Exchange after promoter group made a cash offer to buy out about 33 per cent of the public shareholding in the company, PTI reported. In a filing to the London Stock Exchange, the company said that Volcan, the investment arm of Agarwal family, made an offer to buy public float at a price of 825 pence per share, 27.6 per cent higher than closing of 647 pence on June 29. “In addition to the offer price, shareholders will also be entitled to receive the previously announced dividend of USD 0.41 per Vedanta share in respect of the twelve months ended March 31, 2018, which when taken together with the offer price represents a total value of 856 pence per share,” it said. The move is to simplify the corporate structure of Vedanta and its subsidiaries.

    12:25 (IST)02 Jul 2018
    PSU Banks stock in red; SBI down 1.45%, IDBI Bank up 2%

    The Nifty PSU Bank index was down 1.65% during mid-afternoon trade, with shares of IDBI Bank trading with gains of 2.19%. IDBI Bank shares rose on media reports that Insurance Regulatory Authority of India has allowed Life Insurance Corporation (LIC) to buy up to 51% stake in the company. Allahabad Bank shares lost 5.62%, while Syndicate Bank (-3.54%), Andhra Bank (-3.52%), Canara Bank (-3.32%), Union Bank (-3.23%) stocks lost over 3%. Shares of SBI fell 1.45%, PNB shares fell 1.64% and Bank of Baroda shares 2.31%.

    11:59 (IST)02 Jul 2018
    Nifty metal index slips over 2%

    The Nifty metal index fell 2.56%, with shares of Jindal Steel down 7.62%. Shares of NALCO slipped 5.49%, followed by SAIL (-4.22%), Hindalco (-3.86%), JSW Steel (-3.03%), Vedanta (-1.82%), Coal India (-1.61%) and Tata Steel (-1.50%).

    11:23 (IST)02 Jul 2018
    S&P BSE Power index down 2%; NTPC dips 3.86%

    Among the BSE sectoral indices, the power index was the top loser, down 2.02%. Adani Power was the top drag, down 4.33%. NTPC was down 3.86%. Reliance Infra slipped 2.84%.

    11:13 (IST)02 Jul 2018
    Manufacturing PMI rises to 53.1 in June on robust demand

    Manufacturing PMI rises to 6-month high in June on robust demand

    The Nikkei Markit India Manufacturing Purchasing Managers’ Index (PMI) — an indicator of manufacturing activity — surged from 51.2 in May to 53.1 in June. This improvement in manufacturing output was a result of favourable demand conditions including new orders from key global markets, according to the survey. Meanwhile, manufacturing sector growth in India moderated to a three-month low in May amid a softer rise in new orders and production.

    10:58 (IST)02 Jul 2018
    Sensex slips further, down 240 points; Nifty below 10,650

    Sensex fell 243 points to a low of 35,179.84 during mid-day trade with shares of NTPC (-3.57%), ONGC (-2.5%), Vedanta (-2.16%), SBI (-2.01%), Bharti Airtel (-1.55%) and ITC (-1.48%) dragging the index lower.  The Nifty dropped 81 points to a low of 10,632.55. Shares of NTPC, ONGC, Vedanta, Hindalco and Indiabulls Housing Finance were the top five losers on the NSE.

    10:48 (IST)02 Jul 2018
    IDBI Bank shares rise by 5.6%

    LIC to up stake in IDBI Bank by 40%? Shares of PSU bank can gain up to 9% in coming days

    Shares of state-owned IDBI Bank climbed 5.6% to nearly a week's high of Rs 57.95 on the NSE after media reports late on Friday said that Insurance Regulatory Authority of India has allowed the country's largest state-run insurer, Life Insurance Corporation (LIC), to buy up to 51% stake in the company.  On the BSE, shares of IDBI Bank rose to a day's high of Rs 58.

    10:43 (IST)02 Jul 2018
    Bajaj Auto shares jump 3% on strong sales data

    Bajaj Auto shares surged by 3.6% to a 2-week high of Rs 2,912 after the company on Monday reported a 65% jump in total sales to 4,04,429 units for June. In a BSE filing, the company said that its motorcycle sales also increased by 65 per cent to 3,37,752 units as against 2,04,667 in June last year. Bajaj Auto is the top gainer on both the BSE Sensex and NSE Nifty indices.

    10:24 (IST)02 Jul 2018
    Fine Organic share price today: Fine Organic shares list at Rs 815 on NSE

    The shares of Mumbai-headquartered oleochemical-based additives manufacturer Fine Organic listed at Rs 815 on NSE, implying a premium of 4.08% from the issue price of Rs 783. The shares soon rose to hit Rs 823, within the first five minutes of trading. Earlier, the initial public offer (IPO) of Fine Organic Industries was subscribed by 8.8 times with investors bidding for 4.72 crore shares of the 53.65 lakh shares on offer. 

    10:22 (IST)02 Jul 2018
    RITES share price today: RITES share price rallies 11% on stock market debut after bumper IPO

    Blockbuster listing! RITES share price rallies 11% on stock market debut after bumper IPO

    Shares of RITES marked a blockbuster stock market debut on Monday with share price rallying more than 11% on listing on BSE and NSE after the state-owned construction and engineering firm successfully concluded its Rs 460 crore IPO in June. RITES share price advanced as much as 11.22% to a day’s high of Rs 205.75 on BSE. Shares of RITES are admitted in the ‘B’ group of equity shares on BSE. Upon successful stock market listing, RITES achieved a market capitalisation of Rs 4,061 crore on the basis of day’s high share price of Rs 205.75 on BSE.

    09:59 (IST)02 Jul 2018
    Sensex heatmap: Bajaj Auto, Tata Steel, Sun Pharma in green; NTPC deep in red

    09:57 (IST)02 Jul 2018
    Check out the most active securities on NSE

    09:47 (IST)02 Jul 2018
    Tata Steel shares up 3% after Thyssenkrupp deal

    Tata Steel's shares rose 3.3% to a high of Rs 586.50 following the company's announcement of signing  a final agreement with Germany’s Thyssenkrupp to establish a long-expected steel joint venture. The level is the highest since June 12 this year. This is the largest deal in Europe’s steel industry since the takeover of Arcelor by Mittal in 2006. The 50-50 joint venture – to be named Thyssenkrupp Tata Steel – will have about 48,000 workers and about 17 billion euros ($19.9 billion) in sales, Reuters reported. The mega venture will be based in the Netherlands.

    09:40 (IST)02 Jul 2018
    Rupee gains 13 paise against US dollar

    The rupee strengthened by 13 paise to 68.33 against the dollar in early trade today. The rupee had gained 33 paise to 68.46 against the US dollar on Friday.

    09:33 (IST)02 Jul 2018
    Sensex drops over 150 points, Nifty below 10,700 level; NTPC down 3.36%

    The Sensex slipped over 150 points to a low of 35,297.83 in early trade, led by losses of NTPC shares which fell over 3 %. Vedanta, Coal India, LT, ITC. ONGC shares lost over 1%. The Nifty gave up the 10,700 mark, falling 40 points to a low of 10,673.10.

    09:24 (IST)02 Jul 2018
    Stocks in focus today: TCS, RIL, Airtel, Tata Motors, Tata Steel, PNB
    09:21 (IST)02 Jul 2018
    Sensex, Nifty open flat-to-negative

    The domestic equity market opened on a flat-to-negative note on Monday, with the BSE Sensex falling over 50 points to a low of 35,353.08 in early trade. The Nifty of the National Stock exchange traded down by 16.85 points at 10,697.45. Bajaj Auto, Tata Steel, Tata Motors shares gained over 2%.

    09:01 (IST)02 Jul 2018
    Brent crude oil prices dip nearly 1%

    Oil prices fell on Monday, with a Reuters survey showing Saudi Arabia has boosted supplies to a near-record 10.7 million barrels per day (bpd) in a sign the world’s top crude exporter wants to make up for disruptions elsewhere. Brent crude oil futures were at $78.52 per barrel at 0058 GMT, down 71 cents, or 0.9 percent, from their last close. U.S. West Texas Intermediate crude futures were down 71 cents, or 1 percent, at $73.44 a barrel, after rising more than 8 percent last week.

    08:59 (IST)02 Jul 2018
    Asian shares sluggish, Mexico peso up on exit polls

    Asian shares were subdued Monday ahead of a week packed with major economic events, while Mexico's peso firmed as exit polls pointed to a decisive victory for presidential front-runner Andres Manuel Lopez Obrador's party, Reuters reported. MSCI’s broadest index of Asia-Pacific shares outside Japan was a fraction firmer in early trade. The index shed 2 per cent last week as trade concerns clouded the outlook for Chinese growth and pressured asset prices there. Tension is growing ahead of a July 6 deadline when the U.S. is due to impose US$34 billion of tariffs on Chinese exports. 

    On the Sensex, Bharti Airtel and NTPC shares closed with losses of over 3%, Adani Ports lost over 2%. HDFC twins, Reliance Industries, ONGC, Coal India, Hero MotoCorp shares closed with losses of over 1%. On the contrary, Asian Paints closed with gains of 2.29%, Infosys 2.12%, Vedanta 1.25% and Bajaj Auto shares closed 1% higher. Shares of RITES marked a blockbuster stock market debut on Monday with share price rallying more than 11% on listing on BSE and NSE after the state-owned construction and engineering firm successfully concluded its Rs 460 crore IPO in June. The shares of Fine Organic listed at Rs 815 on NSE, implying a premium of 4.08% from the issue price of Rs 783.