Sensex, Nifty end flat; PNB crashes 8% on Q1 FY19 results; Adani Ports tumbles 6%

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Updated:Aug 07, 2018 3:53:52 pm

Share Market Today: Indian stock markets (Sensex and Nifty) ended flat on Tuesday with BSE Sensex closing down 26 points and NSE Nifty settling below 11,400 following the sustained downtick in Reliance Industries, Adani Ports and SBI shares.

Share Market Today: (Image: Reuters)

Share Market Today: Indian stock markets (Sensex and Nifty) ended flat on Tuesday with BSE Sensex closing down 26 points and NSE Nifty settling below 11,400 following the sustained downtick in Reliance Industries, Adani Ports and SBI shares. The markets traded well below the all-time highs achieved earlier today up until mid-morning deals with BSE Sensex falling 290 points from the record peak and NSE Nifty slipping below 11,360-mark.

Shares of India’s second-largest PSU bank PNB fell more than 8% after the Nirav Modi fraud hit bank reported a loss of Rs 940 crore in Q1 FY19. Shares of Adani Ports were the biggest drags on Sensex and Nifty after the stock tumbled more than 6% on weak Q1 FY19 results. Indian equity markets reversed most of its gains after beginning at fresh record highs with BSE Sensex and NSE Nifty slipping well below their respective all-time highs achieved today.

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Highlights

    15:40 (IST)07 Aug 2018
    Major negative points contributors to Sensex today

    15:35 (IST)07 Aug 2018
    Closing bell!

    Indian stock markets settled flat on Tuesday following the weak Q1 FY19 results and profit-booking by market participants after a long streak of all-time highs. BSE Sensex closed at 37,665.80, down 26.09 points or 0.07% and NSE Nifty concluded at 11,389.45, up 2.35 points or 0.02%. 

    15:14 (IST)07 Aug 2018
    Sensex Live: Sensex at 37,647.44, down 44.45 points or 0.12%

    14:44 (IST)07 Aug 2018
    Just In | Vedanta set to bag 40 oil blocks, ONGC 2, HOEC 1

    Anil Agarwal-led Vedanta Ltd is likely to bag as many as 40 oil and gas exploration blocks in India's maiden open acreage auction, PTI reported citing unidentified official sources. An Empowered Committee of Secretaries (ECS) has cleared award of blocks offered in OALP-1, bidding for which closed on May 2, the report added.

    14:42 (IST)07 Aug 2018
    PNB stock dives 7%

    PNB shares dived more than 7% in the late trade after the PSU lender reported a loss of Rs 940 crore in the Apr-Jun quarter of FY19. The stock of PNB extended losses and fell 7.7% to a day's bottom of Rs 83.2 on BSE today.

    14:30 (IST)07 Aug 2018
    PNB plans to sell Rs 8,600 crore of non-core assets in FY19

    PNB expects Rs 5,000 to Rs 7,000 crore worth of bad loans resolution via NCLT in Jul-Sep quarter and plans to sell about Rs 8,600 crore of non-core assets in FY19, Reuters reported citing Sunil Mehta, CEO, Punjab National Bank. 

    13:00 (IST)07 Aug 2018
    PNB Q1 Results 2019: Asset quality stable

    PNB Q1 Results 2019: Country's fourth-largest bank by asset size Punjab National Bank's asset quality remained largely stable in the quarter ended 30 June 2018. On the assets front, the gross NPAs were at 18.26% as at 30 June 2018 vs 18.38% as at 31 March 2018 and 13.66% as at 30 June 2017. 

    12:55 (IST)07 Aug 2018
    PNB down 2% after Q1 net loss of Rs 940 crore

    PNB share price trading down 2.05% at Rs 88.4 after India's second-largest PSU bank reported a loss for the second consecutive quarter following the massive spike in the provisioning in order to compensate with the losses due to multi-billion rupee fraud by Nirav Modi and Mehul Choksi. PNB on Tuesday reported a net loss of Rs 940 crore as compared to a net profit of Rs 343.4 billion in the same quarter last year. 

    12:40 (IST)07 Aug 2018
    Japan's stock market ends higher as SoftBank shares rally

    Japan's Nikkei share average gained on Tuesday after index-heavyweight SoftBank jumped on the back of strong first-quarter results, while a rebound in Chinese shares also helped overall sentiment, Reuters reported. The Nikkei ended up 0.7% to 22,662.74. SoftBank Group Corp surged 6.5% to a nine-month high after it reported a 49% jump in quarterly profit, boosted by the sale of its stake in Indian e-commerce giant Flipkart in the first public divestment by its massive Vision Fund, it added. 

    12:38 (IST)07 Aug 2018
    Crude oil prices rise

    Crude oil prices rose on Tuesday as the United States reintroduced sanctions against major crude exporter Iran, tightening global markets, a Reuters report said. Spot Brent crude oil futures were at $74.08 per barrel up 33 cents, or 0.4% from their last close while US West Texas Intermediate (WTI) crude futures were up 20 cents, or 0.3% at $69.21 barrel, the report added. 

    12:31 (IST)07 Aug 2018
    Sensex Live: BSE Sensex falls 290 points from all-time high

    Sensex Live: The benchmark Sensex index tanked 290 points from the all-time high to a day's bottom of 37,586.88 following the carnage in shares of Reliance Industries, Adani Ports, Axis Bank, TCS. NSE Nifty 50 index touched a day's low of 11,359.7, down 69.25 points from the record high. 

    11:49 (IST)07 Aug 2018
    Credit Suisse on Indian rupee

    The weakness in rupee is expected to continue further and the domestic currency could touch 70 per US dollar if crude oil prices continue moving upward, PTI reported citing a Credit Suisse report. "As downside risks remain, the USD/INR could head toward 70 unless we get some relief from oil prices and the current USD strength. We maintain our negative stance on the currency, and our USD/INR forecasts stand at 70 for both 3 and 12 months," Credit Suisse said in a research note," Credit Suisse said.  

    10:57 (IST)07 Aug 2018
    Adani Ports drag Sensex, Nifty

    Shares of Adani Ports witnessed their biggest percentage drop since 7 March 2018 and fell over 5% on weak Q1 FY19 results. The stock of Adani Ports dipped 5.66% to a day's bottom of Rs 375.25 on BSE today and was the biggest drag on Sensex and Nifty. 

    10:51 (IST)07 Aug 2018
    L&T wins Rs 1,900 crore orders

    Larsen & Toubro (L&T) today said its construction arm has won orders worth Rs 1,904 crore across business segments in the domestic and international markets

    10:48 (IST)07 Aug 2018
    PSU bankers bleed

    Shares of all the components of Nifty PSU Bank index were trading in negative zone with Andhra Bank and Syndicate Bank leading the losses. Nifty PSU Bank index fell 1.39% to 3,277.35 with heavyweight shares of PNB (down 1.22%), SBI (down 1.26%), Bank of India (down 1.49%), Bank of Baroda (down 1.83%) and Canara Bank (down 2.11%) losing 1-2%. 

    10:37 (IST)07 Aug 2018
    Indian equities turn choppy

    Indian equities turned choppy in the mid-morning deals on Tuesday with all of the broader market indices of National Stock Exchange falling in negative territory. 

    10:33 (IST)07 Aug 2018
    Vakrangee jumps 17%

    Shares of Vanrangee surged more than 17% ahead of its board meeting scheduled for 10 August 2018 to consider financial results and dividend (if any). The stock of Vakrangee rose 17.19% to Rs 65.45 on BSE today. 

    10:30 (IST)07 Aug 2018
    Chinese stock market rises

    China stocks rose on Tuesday as investors snapped up shares hit by recent heavy losses, but an escalating Sino-US trade war and worries over the prospect for domestic growth are likely to continue to dampen sentiment, Reuters reported. Shanghai Composite index was trading up 38.55 points or 1.43% at 2,743.71. 

    10:10 (IST)07 Aug 2018
    Syndicate Bank down 4% post Q1 FY19 results

    Shares of Syndicate Bank shed as much as 4.2% to Rs 42.25 rupees, their biggest daily percentage fall in nearly three weeks after the PSU lender's Q1 FY19 loss widened to Rs 1,282 crore. The stock of Syndicate Bank was the top loser among the benchmark Nifty PSU Bank index. 

    09:53 (IST)07 Aug 2018
    Rupee hits 2-week low against USD

    The rupee weakened by another 5 paise to trade at a fresh two-week low of 68.93 against the US dollar in early session today due to increased demand for the American currency from importers as global trade war concerns rise, PTI reported. The dollar's gains against other currencies on escalating trade war worries between the United States and China also impacted the rupee sentiment, the report added citing unidentified currency dealers. 

    09:50 (IST)07 Aug 2018
    Sensex Live: Major slips in market today

    Sensex Live: Shares of Reliance Industries, TCS, Adani Ports, HDFC Bank and Bharti Airtel were the major contributors in wiping out the index gains today. The benchmark Sensex fell as much as 190 points to a day's bottom of 37,686.47 from the all-time high of 37,876.87. 

    09:37 (IST)07 Aug 2018
    Markets erase gains

    The domestic stock markets erased gains within a few minutes after opening at record highs with Sensex and Nifty falling well below their respective all-time highs. BSE Sensex was trading at 37,690.47, down 1.42 points and NSE Nifty was trading at 11,391.65, up 4.55 points. 

    09:34 (IST)07 Aug 2018
    Pound @ 11-month low

    The pound stayed fragile on Tuesday after falling to an 11-month low against the dollar overnight on worries over a 'hard' Brexit from the European Union, while simmering US-China trade tensions provided support to the greenback, a Reuters report said. Sterling sank as far as $1.2920 overnight, its lowest since early September, before making up some losses while It stood at $1.2942 at 0315 GMT, the report added. 

    09:17 (IST)07 Aug 2018
    Opening bell!

    Indian equity markets started higher on Tuesday with BSE Sensex and NSE Nifty hitting all-new record peaks. The benchmark Sensex opened at an all-time high of 37,849.21, up 157.32, or 0.42% while the broader Nifty 50 started at 11,423.15, up 36.05 points or 0.32%. 

    09:14 (IST)07 Aug 2018
    Breaking | Sensex Live: BSE Sensex hits new all-time high in pre-opening session

    Sensex Live: BSE Sensex index hit a fresh all-time high in the pre-opening session on Tuesday of 37,849.21, up 157.32 or 0.42%. 

    08:58 (IST)07 Aug 2018
    Sensex on Monday

    Indian stock markets (Sensex and Nifty) closed at record peaks on Monday with BSE Sensex and NSE Nifty closing at respective all-time highs following the upmove in the shares of ICICI Bank, Reliance Industries, SBI and Axis Bank. The S&P BSE Sensex closed at 37,691.89, up 135.73 points or 0.36% and NSE Nifty 50 finished at 11,387.10, up 26.30 points or 0.23% with 7 of 11 sectors of National Stock Exchange concluding in green with Nifty PSU Bank rising over 2%.

    08:50 (IST)07 Aug 2018
    SGX Nifty Futures trades flat

    The global indicator of NSE Nifty, SGX Nifty Futures was trading flat in the early session on Tuesday, up 0.03% at 11,433.5 on Singapore Exchange. The gauge has shuttled between a range of 11,446 and 11,428.5 earlier today.

    India's share markets started at record highs on Tuesday with BSE Sensex hitting an all-time high at 37,876.87 and NSE Nifty marking a fresh record high at 11,428.95. A sharp rally in shares of Reliance Industries, Kotak Mahindra Bank and Infosys in the early session steered the key equity indices to log new record highs today. Asian stocks wobbled on Tuesday as simmering worries over the US-China trade conflict offset positive leads from earnings-led gains on Wall Street, a Reuters report said.