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  1. Markets today: Sensex closes 115 points lower at 35,432.39; Nifty50 down 0.29%; M&M loses over 2%

Markets today: Sensex closes 115 points lower at 35,432.39; Nifty50 down 0.29%; M&M loses over 2%

Heavy selling in the last hour of trade dragged the benchmark BSE Sensex, which closed 114.94 points or 0.32 per cent lower at 35,432.39 points. The NSE Nifty50 fell by 30.95 points or 0.29 per cent to close at 10,741.10 points. M&M, Power Grid, ONGC, Sun Pharma, SBI and Bajaj Auto were the top losers on the BSE.

By: | Updated:Jun 21, 2018 4:03 pm
Finolex Industries, EBITDA, Finolex Cables Adani Ports, ICICI Bank, and RIL stocks gained over 1% on the BSE in the opening trade.

Heavy selling in the last half hour of trade, along with outflow of funds, dented sentiments and the benchmark Sensex index of the BSE dropped almost 150 points to an intra-day low of 35,396.97 points on Thursday. The Sensex closed trade 114.94 points or 0.32 per cent lower at 35,432.39 points. The Nifty50 of the National Stock Exchange closed at 10,741.10 points, down 30.95 points or 0.29 per cent. Meanwhile, RITES IPO was subscribed by 1.87 times on day 2.

“Market continued to be under pressure as trade tensions between the U.S. and China is getting escalated. Emerging markets including India were under performing due to FIIs selling. OPEC meeting tomorrow will be a key event, relaxation in production cuts will provide some relief to Indian markets,” said Vinod Nair, Head of Research, Geojit Financial Services.

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15:38 (IST) 21 Jun 2018
Market comment - Nikhil Kamath, Co-Founder, Zerodha

'Markets opened the day higher on positive global cues and corrected intraday, the selling intensified post 2 30 pm leading the frontline bourses to close with losses of half a percent. FIIs continue to be net sellers for the month; this could be adding considerable weakness onto the indices.'

'The rupee has depreciated close to 10 percent for the year. This could be adding further incentive for Fiis to pull money out of the country. Sectorally auto and pharma were the worst performers of the session; these sectors had rallied from the beginning of June. Overall we consider this neutral territory and the markets have been lagging at this level for a considerable amount of time now. We would recommend holding a neutral outlook at the current juncture.'

15:35 (IST) 21 Jun 2018
Sensex closes 115 points lower at 35,432.39; Nifty50 down 0.29%; M&M loses over 2%

Heavy selling in the last hour of trade dragged the benchmark BSE Sensex, which provisionally closed 114.94 points or 0.32 per cent lower at 35,432.39 points (3.30 p.m.). The NSE Nifty50 fell by 30.95 points or 0.29 per cent to close at 10,741.10 points. M&M, Power Grid, ONGC, Sun Pharma, SBI and Bajaj Auto were the top losers on the BSE.

15:24 (IST) 21 Jun 2018
Gold prices fall on lackluster demand

Gold slumps Rs 145 on lacklustre demand

Gold prices tumbled Rs 145 to Rs 31,570 per 10 grams at the bullion market today on fall in demand from local jewellers and retailers amid a weak trend overseas. However, silver traded at its previous level of Rs 41,000 per kg on scattered enquiries from industrial units and coin makers.

15:12 (IST) 21 Jun 2018
Who is Atul Gawande? Meet Jeff Bezos-Warren Buffett-Jamie Dimon healthcare venture's CEO

Meet Indian-origin doctor Atul Gawande, CEO of Jeff Bezos-Warren Buffett-Jamie Dimon healthcare venture

Atul Gawande was chosen Wednesday to run a startup company that aims to improve medical care and lower health costs for the more than 1 million employees of Amazon.com Inc., JPMorgan Chase & Co. and Berkshire Hathaway Inc.

14:55 (IST) 21 Jun 2018
Sensex drops almost 130 points on heavy selling; M&M, ONGC, Airtel plunges over 2%

Heavy selling pressure pulled the benchmark Sensex index lower by almost 130 points to an intra-day low of 35,418.85 points. M&M, ONGC, Power Grid and Bharti Airtel down over 2%. Sun Pharma, Asian Paints, SBI, Bajaj Auto, Axis Bank, Yes Bank, ITC and LT lost over 1% on the BSE.

14:43 (IST) 21 Jun 2018
ICICI Bank, Bajaj Finserv gain; M&M, ONGC lose on Nifty50

Top five Nifty50 gainers: ICICI Bank (+1.65%), Bajaj Finserv (+1.16%), Zee Entertainment (+1.07%), Hindustan Unilever (+0.87%) and HDFC (+0.84%)

Top five Nifty50 losers: M&M (-2.80%), ONGC (-2.64%), Power Grid (-2.46%), Dr Reddy's Lab (-2.42%), and Asian Paints (-1.92%)

13:50 (IST) 21 Jun 2018
Read why Rakesh Jhunjhunwala is an “interested party” in banking stocks

Troubled banks not troubling Rakesh Jhunjhunwala! He is bullish, and his reasons will convince you too

In the Q4 of FY18, most of the banks posted losses on account of higher provisioning for NPAs (non-performing asset). In an interview with CNBC-TV18, Rakesh Jhunjhunwala said that he is an “interested party” in banking stocks and that opportunity to grow is “unbelievable” in them.

13:47 (IST) 21 Jun 2018
Load up on large caps and raise cash to buy into declines: HDFC Securities

Volatility before 2019 Lok Sabha polls: HDFC Securities says load up on large caps and raise cash to buy into declines

Indian equities may be Asia’s second-best performers this year, but the brokerage unit of the nation’s biggest private bank has advice for investors: load up on large caps and raise cash to buy into declines. The strategy is based on the premise that the biggest companies will weather the volatility induced by the political uncertainty before next year’s national ballot more smoothly than the smaller stocks that led the $2.2 trillion market to multiple records in 2017.

13:39 (IST) 21 Jun 2018
S&P BSE Bharat 22 Index tanks to new 52-week low

On the third day of Bharat 22 scheme further fund offer (FFO), the S&P BSE Bharat 22 Index fell over 1% to hit a fresh 52-week low of 3,387.32 points. Today is the second day for subscription by retail investors and will remain open till June 22.

13:24 (IST) 21 Jun 2018
Oil and gas stocks underperform; ONGC shares tank over 2%

The S&P BSE oil and gas index slipped over half a percent ahead of the OPEC meet in Vienna on June 22 to agree on output policy.  ONGC shares tanked by 2.25%, followed by Petronet (down 1.41%), IOC (down 1.08%) and Hindustan Petroleum (down 0.97%).

13:17 (IST) 21 Jun 2018
ICICI Bank, Adani Ports gain over 1%; ONGC, Power Grid dip

The top five gainers on the S&P BSE Sensex (around 1 p.m.) are: ICICI Bank (up 1.91%), Adani Ports (up 1.50%), RIL (up 1.18%), HDFC (up 0.70%) and Tata Steel (up 0.66%).

The top five losers are: ONGC (down 2.21%), Power Grid (down 2.20%), M&M (down 1.74%), State Bank of India (down 0.84%) and Axis Bank (down 0.84%).

13:02 (IST) 21 Jun 2018
Swiggy raises $210 million funds from Naspers, DST Global

Swiggy raises $210 million in fresh round of funding led by Naspers and DST Global

Food delivery platform Swiggy has raised $210 million (over Rs 1,430 crore) in a fresh round of funding led by Naspers and DST Global, it said in a statement.

12:37 (IST) 21 Jun 2018
PSU Banks remain under pressure; BoB hits new 52-week low

The Nifty PSU Bank dipped 1.40%, led by losses in Union Bank (down 3.03%), PNB (down 2.78%), Allahabad Bank (down 2.68%), Bank of Baroda (down 2.28%), IDBI Bank (down 2.12%) and Canara Bank (down 2.08%). SBI stocks fell by 1.01%.  BoB shares slipped to a fresh 52-week low of Rs 122.05.

11:50 (IST) 21 Jun 2018
Sensex, Nifty50 pare early gains to trade in red; Power Grid, ONGC, M&M, Axis Bank bleed over 1%

The Sensex gave up over 50 points to hit a day's low of 35,485.43 points as investors booked profits. The NSE Nifty50 slipped almost 25 points from its previous close to hit a low of 10,748.85. Power Grid, ONGC, M&M, Axis Bank and SBI shares plunge over 1% on the BSE.

11:42 (IST) 21 Jun 2018
RITES IPO nearing 100% subscription on day 2

RITES IPO was subscribed 98% till about 11.30 a.m. on the second day.  Qualified institutional buyers subscribed 0.02 times while the retail investor portion got subscribed 2.76 times. Non-institutional buyers subscribed 0.24 times on the second day.

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