Sensex, Nifty end flat ahead of Q1 GDP data release; RIL’s 2.6% fall erase gains, Yes Bank plunges 5%

By: |
Updated:Aug 31, 2018 4:17:03 pm

Share Market Today: Indian stock markets (Sensex and Nifty) ended mildly lower on Friday ahead of India's Q1 GDP data release with Sensex falling 45 points and Nifty managing to finish in green following the negative global cues.

Share Market Today: Sensex and Nifty hit all-time highs, both intraday and closing, earlier this week on 29 August. (Image: Reuters)

Share Market Today: Indian stock markets (Sensex and Nifty) ended mildly lower on Friday ahead of India’s Q1 GDP data release with Sensex falling 45 points and Nifty managing to finish in green following the negative global cues. The plunge in heavyweight stocks of RIL (down 2.6%) and Yes Bank (down 5.11%) wiped out about 142.54 points out of BSE Sensex. The rupee traded in a range of between 70.85 and 71, after touching a record low at 71.0013 against US dollar in the early session today.

Indian shares recoiled sharply within minutes of opening flat on Friday with Sensex gaining 148 points and Nifty reclaiming 11,700-level as Infosys shares surged 2% but failed to sustained the gains. Shares of Welspun India, Hatsun, HDIL, CCL and Jai Corp were the major gainers rising up to 9% while stocks of Vakrangee, Yes Bank, Kirloskar Engineering, Kwality and Aegis Logistics were the top losers falling 3.5-8.2% among the ‘A’ group of BSE.

Indian share markets opened flat on Friday with BSE Sensex and NSE Nifty starting little changed while the Indian rupee breached 70 per unit US dollar mark for the first time ever in history. The rupee tumbled as much as 26 paise vs USD to hit an all-time low of 70.0013, the Bloomberg data showed. The domestic markets traded under pressure on Friday following the fresh worries of another trade tariffs battle between US and China.

The market participants will be keenly watching the first quarter GDP data which is likely to be released after stock market trading hours at around 5:30 pm today. Asian shares came under renewed pressure on Friday as a report US President Donald Trump was preparing to step up a trade war with Beijing sent Chinese stocks lower and partially erased gains made in this week’s global rally, Reuters reported.

Read More

Live Blog

Share Market Live: Sensex Live, Nifty Live, Indian Rupee vs US dollar Exchange Rate, NSE Live, BSE Live, Latest Stock Market News


    16:07 (IST)31 Aug 2018
    Closing bell

    Indian stock markets closed in marginally lower after trading in negative territory for most of the day with Sensex losing 45 points while Nifty settled flat in green. BSE Sensex closed at 38,645.07, down 45.03 points or 0.12% and NSE Nifty concluded at 11,680.50, down 3.70 points or 0.03%. Shares of Reliance Industries (down 2.6%) and Yes Bank (down 5.11%) were the biggest negative point contributors to both Sensex and Nifty while stocks of Infosys (up 1.59%), L&T (up 1.45%), IndusInd Bank (up 1.47%), Tata Motors (up 2.87%) and Sun Pharma (up 1.99%) managed to restrict the losses by adding as much as 109 points to BSE Sensex. The decline in RIL share price wiped off 108 points out of Sensex. The sectoral indices of NSE ended mixed with Nifty Pharma (up 2.87%) and Nifty IT (up 1.81%) leading the charge. 

    14:49 (IST)31 Aug 2018
    Reliance Industries plunges 3%

    Reliance Industries shares fell nearly 3% in the late trades on Friday and were the largest negative point contributors to the key equity indices Sensex and Nifty. The stock of Mukesh Ambani-controlled Reliance Industries tumbled 2.97% to a day's bottom of Rs 1,236.65 on NSE. The heavyweight stock of RIL alone wiped out as much as 111 points from the benchmark Sensex outnumbering the positive points provided by Tata Motors, IndusInd Bank, Sun Pharma, L&T and Infosys. 

    14:15 (IST)31 Aug 2018
    Crude oil prices today

    Crude oil prices slipped on Friday as concerns over the impact of a global trade war depressed sentiment, although impending U.S. sanctions on Iran and falling Venezuelan output limited losses, a Reuters report said. Brent crude oil was down 30 cents a barrel at $77.47 while US WTI crude was 10 cents lower at $70.15, it added.

    13:06 (IST)31 Aug 2018
    Vodafone Idea Ltd becomes India's largest telecom operator

    The merger of Idea Cellular and Vodafone India has been completed, creating India's biggest telecom service provider with over 408 million subscribers. A new board has been constituted for the merged entity "Vodafone Idea Ltd' with 12 directors (including six independent directors) and Kumar Mangalam Birla as its Chairman. The board has appointed Balesh Sharma as the CEO, the two companies said in a joint statement. The combination will have all India revenue market share of 32.2% and take the numero uno slot in nine telecom circles, it said adding that both Vodafone and Idea brands will continue.

    12:17 (IST)31 Aug 2018
    Sensex, Nifty fall ahead of GDP data

    The BSE Sensex pared its early gains to fall over 100 points in late morning deals, on selling in metal, energy, capital goods, banks, financials and realty sectors amid weakness rupee as well as negative Asian cues, PTI reported. Caution also crept ahead of the release of the gross domestic product (GDP) data for the June quarter today, it added. 

    11:34 (IST)31 Aug 2018
    Wipro hits 7-month high

    Shares of Azim Premji-led India's third largest IT company Wipro surged more than 2% in the early afternoon deals on Friday to a 7-month high. Wipro shares were the top five gainers among the 31 components of BSE Sensex. The stock of Wipro rose as much as 2.53% to Rs 306.5. According to a Reuters report, Wipro shares have broken above a resistance at Rs 303.15, the 38.2% Fibonacci projection level of the uptrend from 9 November 2016 low to 16 January 2018 high. 

    10:40 (IST)31 Aug 2018
    Did RBI intervene to arrest rupee fall?

    Indian Rupee vs US Dollar value: 70.9325, down 20 paise

    According to a Reuters report, the Reserve Bank of India was likely sporadically selling dollars through state-run banks to prevent a sudden sharp fall but traders do not expect any major intervention as the fall has been in line with fundamentals.

    10:23 (IST)31 Aug 2018
    Rupee @ 71/$: Trades near record low vs USD

    The rupee was trading near record low level against US dollar at the interbank foreign exchange market in the mid-morning deals on Friday. According to the data available on Bloomberg, the rupee was trading at 70.9675 per unit US dollar, down 23 paise or 0.33%. The Indian rupee is now down by 11.5% against the US dollar in the CY 2018 and is down 12% from the year's high of 63.37 vs USD.

    10:10 (IST)31 Aug 2018
    Asian stock market under pressure

    Asian shares fell Friday following a report that the Trump administration could put tariffs on $200 billion in Chinese goods as early as next week, an Associated Press report said. Japan's benchmark Nikkei 225 lost nearly 0.2% to 22,830.03 in early trading, Hong Kong's Hang Seng was down 1% at 27,881.95, Shanghai Composite index fell nearly 0.1% to 2,735.51 while South Korea's Kospi inched up a fraction of 0.1% to 2,307.72.

    09:48 (IST)31 Aug 2018
    Equities recoil

    Indian equities recoiled sharply from the day's bottom within minutes after opening flat on Friday with Sensex rallying nearly 150 points and Nifty reclaiming 11,700-mark. BSE Sensex jumped 148.35 points to a day's high of 38,838.45 whereas NSE Nifty rose 50.85 points to a day's top of 11,727.65. Shares of India's second-largest IT company Infosys emerged as the biggest positive points contributors to Sensex and Nifty while, on the other hand, Mukesh Ambani's Reliance Industries and Rana Kapoor-led Yes Bank were the largest negative point contributors. 

    09:43 (IST)31 Aug 2018
    Rupee set for biggest monthly fall in 3 years

    Rupee fall continues: Hits 71-mark for first time, slides 26 paise against USD

    According to a Bloomberg report, the Indian rupee is set for the biggest monthly fall in the last 3 years. The knock-on effect of weakening developing-market currencies, elevated oil prices and fears of fiscal slippage before next year’s election have combined to make the rupee Asia’s worst performer in 2018, Bloomberg reported.

    09:35 (IST)31 Aug 2018
    Yes Bank plunges over 6%

    Yes Bank share price fell more than 6% in the early session on Friday after India's fifth-largest private sector lender informed that it has received the Reserve Bank of India's approval for Rana Kapoor to continue as Managing Director & CEO of YES Bank till further notice from RBI. The stock of Yes Bank crashed as much as 6.6% to a day's bottom of Rs 338 on BSE. Yes Bank shares have fallen about 14% in last two weeks to Rs 338 from a share price level of Rs 392.95 as on 17 August 2018.  

    09:26 (IST)31 Aug 2018
    US dollar gains strength

    The dollar edged up against its peers on Friday, finding support as the latest episode of U.S.-China trade tensions dulled investor risk appetite, with weakness in emerging market currencies also helping lift the greenback, Reuters reported. The dollar index against a basket of six major currencies was a shade higher at 94.748. The index had nudged up about 0.15% overnight, ending a four-day losing streak, the report added. 

    09:15 (IST)31 Aug 2018
    Opening bell

    Indian equity markets started on a flatter note on Friday with BSE Sensex opening marginally above 38,700 and NSE Nifty beginning unchanged. The benchmark Sensex opened at 38,704.84, up 14.74 points or 0.04% while the broader Nifty opened at 11,675.85, down 0.95 points or 0.01%. 

    09:06 (IST)31 Aug 2018
    Breaking | Rupee breaches 71/$ for the first time

    The Indian rupee breached 71 per unit US dollar mark for the first time in Indian history. The rupee fell as much as 26 paise to an all-time low of 71.0013 against USD, the Bloomberg data showed. The rupee has fallen more than 3% in the month of August and more than 11% in the current year so far. 

    09:00 (IST)31 Aug 2018
    SGX Nifty trades in red

    The early indicator of NSE Nifty, SGX Nifty Futures was trading little changed in the early session on Friday at 11,724, down 0.1% on the Singapore Exchange. The gauge has moved between a range of 11,749.50 and 11,682.50, earlier today. 

    US stocks ended their four-day winning streak on Thursday as risk reduction ahead of the long holiday weekend accelerated on growing trade anxieties, a Reuters report said. The broad-based sell-off steepened in mid-afternoon following a Bloomberg report that US President Donald Trump wants to impose proposed tariffs on an additional $200 billion of Chinese imports as early as next week, sooner than many expected, the report added. The Dow Jones Industrial Average fell 137.65 points, or 0.53% to 25,986.92, the S&P 500 lost 12.91 points, or 0.44% to 2,901.13 and the Nasdaq Composite dropped 21.32 points, or 0.26% to 8,088.36.