August F&O expiry, rupee’s free-fall vs USD steer Sensex, Nifty to end in red; Q1 GDP data eyed

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Updated:Aug 30, 2018 3:56:22 pm

Share Market Today: The domestic stock markets (Sensex and Nifty) concluded in negative territory on Thursday with BSE Sensex and NSE Nifty finishing marginally down following the August F&O series expiry coupled with the pessimism over Indian rupee hitting a fresh record low against US dollar.

Share Market Today: The Bombay Stock Exchange building, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai. (Image: Wikimedia Commons)

Share Market Today: The domestic stock markets (Sensex and Nifty) concluded in negative territory on Thursday with BSE Sensex and NSE Nifty finishing marginally down following the August F&O series expiry coupled with the pessimism over Indian rupee hitting a fresh record low against US dollar. Indian stock markets fell in negative territory in the mid-morning deals on Thursday following the drop in the shares of RIL and most of the bankers with the rupee recovering partly from the record low.

Indian stock markets started marginally changed on Thursday with BSE Sensex and NSE Nifty beginning slightly higher in positive territory while the Indian rupee dropped as much as 23 paise to hit a new all-time low against US dollar. The rupee registered a record low at 70.85 against US dollar, the Bloomberg data showed.

Earlier yesterday, the Indian rupee fell more than 50 paise to a record low of 70.64 before closing at 70.59, down 49 paise against the US dollar. Asian stocks rose on Thursday as Wall Street hit record highs in the hope that the current North American Free Trade Agreement (NAFTA) negotiations will lead to a further easing of global trade tensions, a Reuters report said.

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Highlights

    15:45 (IST)30 Aug 2018
    Closing bell

    Indian stock markets closed marginally lower on Thursday following the expiry of August series of F&O (Futures and Options) contracts and prevailing caution ahead of the first quarter GDP data due tomorrow, 31 August 2018. The Indian rupee hitting fresh record low against the US dollar also added to the pessimism. The rupee, in the late afternoon deals, made a fresh all-time low at 70.8550, down 26 paise from the previous closing of 70.59 against the US dollar. BSE Sensex settled at 38,690.10, down 32.83 points or 0.08% whereas NSE Nifty succumbed at 11,676.80, down 15.10 points or 0.13%. Shares of Reliance Industries (down 1.57%), HDFC (down 0.85%), Maruti Suzuki (down 1.62%), IndusInd Bank (down 1.62%), Axis Bank (down 1.07%), HDFC Bank (down 0.54%), Kotak Mahindra Bank (down 0.89%) and Yes Bank (down 1.12%) were the major negative point contributors to the BSE Sensex. While, on the other hand, shares of Sun Pharma (up 3.03%), Tata Steel (up 2.4%), ITC (up 2.08%), NTPC (up 1.93%), Bharti Airtel (up 2.07%), ICICI Bank (up 1.26%), HUL (up 1.01%) were the major gainers among the Sensex components. The sectoral indices of the National Stock Exchange ended mixed with Nifty FMCG and Nifty Pharma rising more than 1%. 

    15:28 (IST)30 Aug 2018
    Crude oil prices jump

    Oil prices rose on Thursday, extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in US crude inventories, Reuters reported. Benchmark Brent crude oil was up 20 cents a barrel at $77.34 while US WTI crude was 10 cents higher at $69.61. Brent crude oil has risen by almost 10% over the last two weeks on widespread perceptions that the global oil market is tightening and may run short in the next few months as U.S. sanctions restrict crude exports from Iran, it added. 

    15:16 (IST)30 Aug 2018
    Rupee hits new all-time low

    The Indian rupee went deeper into negative territory in the late afternoon trades and hit a fresh all-time low falling by 26 paise against the US dollar. According to the Bloomberg data, the rupee plunged 26 paise to hit a new record low at 70.8550 per unit US dollar. The domestic currency (rupee) is now down by 11.27% vs US dollar in this year so far. 

    14:30 (IST)30 Aug 2018
    Sensex falls over 100 points

    The S&P BSE Sensex fell more than 118.60 points to a day's bottom of 38,604.33 following the sustained down move in shares of  RIL, Kotak Mahindra Bank, HDFC Bank, Infosys, IndusInd Bank, HDFC, Maruti Suzuki and Axis Bank. Similarly, the broader Nifty 50 slipped below 11,650-level and touched a day's low of 11,646.40, down 45.50 points. 

    14:20 (IST)30 Aug 2018
    BSE to launch F&O on Bharat-22 index from 3 September

    BSE (Bombay Stock Exchange) will introduce F&O (Futures and Options) contracts on Bharat-22 index from 3 September. The Bharat-22 index, comprising shares of 22 companies, is a mix of equity shares of CPSEs (Central Public Sector Enterprises) , PSBs (Public Sector Banks) and blue-chip private companies like ITC, L&T and Axis Bank. Other companies included in the index are ONGC, IOC, SBI, BPCL, Coal India, Nalco, Bharat Electronics, REC, Power Finance Corp, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, Power Grid Corporation, NLC India, Indian Bank and Bank of Baroda. "The exchange shall introduce futures and options contracts on S&P BSE Bharat-22 Index in equity derivatives segment with effect from September 3, 2018," BSE said in a circular.

    13:15 (IST)30 Aug 2018
    NSE mock trading session for commodity derivatives on 1 September

    India's largest stock exchange by trading volume and turnover, National Stock Exchange (NSE) will conduct mock trading sessions for commodity derivative products on Saturday. "The exchange will conduct mock trading session in the commodity derivatives segment on Saturday, September 1, for members to get familiarised with trading system," NSE said in a circular. The mock trading session would be conducted from 10 am to 1 pm, NSE said in a statement.

    12:29 (IST)30 Aug 2018
    India to surpass Britain to become fifth-largest economy: FM Arun Jaitley

    The Union Finance Minister Arun Jaitley on Thursday said India is expected to surpass Britain next year to become world's fifth largest economy. "This year, in terms of size, we have overtaken France. Next year we are likely to overtake Britain. Therefore, we will be the fifth largest (economy)," a PTI report said citing Arun Jaitley.

    12:21 (IST)30 Aug 2018
    Asian currencies plunge

    Most emerging-Asia currencies weakened on Thursday as caution mounted ahead of an upcoming deadline in the China-US trade dispute, while overnight declines in the Turkish lira dulled risk appetite, Reuters said in a report. The dollar index against a basket of six major currencies hovered near a four-week low of 94.434 touched on Tuesday, but the greenback held firm against most emerging Asian currencies, the report added.

    11:23 (IST)30 Aug 2018
    Bankers plunge

    Most of the components of the benchmark Nifty Bank index traded in red on Thursday with RBL Bank, IndusInd Bank, Kotak Mahindra Bank, Axis Bank and Yes Bank slipping more than 1% each. The sector heavyweights HDFC Bank and SBI were down 0.4 to 0.8% while ICICI Bank and PNB rose up to 0.9%. The Nifty Bank index declined 0.77% to a day's bottom of 28,007.

    10:58 (IST)30 Aug 2018
    Sensex, Nifty turn choppy ahead of August F&O expiry

    Benchmark indices Sensex and Nifty gave up initial gains and turned negative after investors turned cautious ahead of August futures and options expiry today amid mixed cues from other Asian markets, a PTI report said. The rupee hitting a new record low of 70.82 against the dollar and surging global crude oil prices too dampened trading sentiments, the report added. 

    10:15 (IST)30 Aug 2018
    Markets fall into red

    Indian equity markets fell into negative territory after opening marginally higher on Thursday with BSE Sensex and NSE Nifty slipping in red following the plunge in Reliance Industries, ICICI Bank, Yes Bank, Axis Bank, SBI, IndusInd Bank, Kotak Mahindra Bank, HDFC Bank shares. The benchmark Sensex touched a day's low at 38,624.23, down 98.7 points while broader Nifty made a day's bottom at 11,656.80, down 35.1 points.

    09:51 (IST)30 Aug 2018
    Asian stock markets dip

    Asian stocks surrendered earlier gains and dipped on Thursday, with Chinese markets fixed firmly on risks from the Sino-US trade war and taking little comfort from an apparent easing in business tensions in North America and Europe, Reuters reported. The leaders of the United States and Canada expressed optimism on Wednesday that NAFTA negotiations would meet a Friday deadline for a deal, days after the US and Mexico reached a bilateral agreement, the report added. 

    09:18 (IST)30 Aug 2018
    Opening bell

    Indian share markets started little changed on Thursday with the key equity indices opening marginally higher in green. BSE Sensex opened at 38,796.98, up 74.05 points or 0.19% while NSE Nifty opened at 11,694.75, 2.85 points or 0.02%. 

    09:15 (IST)30 Aug 2018
    Rupee bloodbath continues, hits another all-time low vs USD

    The rupee tumbled 23 paise after opening lower on Thursday against the US dollar to hit a new all-time high at 70.82, according to Bloomberg data. Earlier yesterday, the rupee lost as much as 49 paise to end at a closing all-time low of 70.49 vs USD at the interbank foreign exchange market. 

    09:09 (IST)30 Aug 2018
    Rupee hits fresh all-time low vs US dollar

    The Indian rupee on Thursday weakened further by 9 paise to a fresh record low of 70.6850 against US dollar, the Bloomberg data showed. 

    08:55 (IST)30 Aug 2018
    Rupee at new all-time low: 70.64/$

    Rupee crashes 53 paise against US dollar, hits new all-time low at 70.64 vs USD: 9 things to note

    The Indian rupee crashed more than 53 paise against the US dollar to hit an all-time low at 70.64 vs USD at the interbank foreign exchange market on Wednesday, 29 August 2018. The steep plunge in the Indian rupee against US dollar was seen after the Reserve Bank of Indian released its Annual Report 2017-2018 between 10 am to 11 am today. In the last hour of foreign exchange trading, the rupee collapsed to a fresh all-time low of 70.64, down 53 paise against US dollar, the Bloomberg data showed. However, the rupee recovered a bit and finally ended at a closing record low of 70.59, down 48 paise apiece US dollar on Wednesday, 29 August 2018. This rupee registered its biggest single-day drop on Wednesday since 13 August when it collapsed 110 paise or 1.6% against USD.

    08:53 (IST)30 Aug 2018
    SGX Nifty in green

    The global indicator of NSE Nifty, SGX Nifty Futures was trading little changed in the early session on Thursday, up 0.11% at 11,760 on the Singapore Exchange. The barometer has moved in a range of 11,792 and 11,732, earlier today. 

    Earlier yesterday, Wall Street extended its rally with the S&P 500 and the Nasdaq hitting record highs for the fourth straight session as technology companies pushed indexes higher and promising trade negotiations stoked investor sentiment while Apple Inc shares hit an all-time closing high at $222.98, Reuters said in a report. The Dow Jones Industrial Average rose 60.55 points, or 0.23% to 26,124.57, the S&P 500 gained 16.52 points, or 0.57% to 2,914.04 and the Nasdaq Composite added 79.65 points, or 0.99% to 8,109.69.
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