Share market HIGHLIGHTS: Wednesday woes! Sensex ends below 36k, Nifty tanks 150 pts on massive sell-off; INR below 73/$

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Updated:Oct 03, 2018 4:25:56 pm

Share market HIGHLIGHTS: The Indian stock markets closed Wednesday's trade in the negative territory with the BSE Sensex slumping over 590 points intra-day and closing below the 36,000 level, down 550.51 points or 1.51% at 35,975.63 points. The Nifty tanked 150.05 points or 1.36% to end at 10,858.25 points.

Share market HIGHLIGHTS: The Nifty tanked 150.05 points or 1.36% to end at 10,858.25 points.

Share market live update: The Indian stock markets closed Wednesday’s trade in the negative territory with the BSE Sensex slumping over 590 points intra-day and closing below the 36,000 level, down 550.51 points or 1.51% at 35,975.63 points. The Nifty tanked 150.05 points or 1.36% to end at 10,858.25 points. According to market observers, higher crude oil prices, along with a weak rupee and negative global cues, hurt investors’ risk-taking appetite.

M&M was the top loser on Wednesday, closing 7% lower. Tata Consultancy Services (TCS) alone wiped off 100 points from the BSE Sensex index, followed by Reliance Industries (-85.32 points), ICICI Bank (-68.11), Infosys (-63.49), M&M (-52.93) and Axis Bank (-41.40). Yes Bank was the top gainers on the Sensex, which closed 5.79% higher. Out of 2,818 companies trading on the BSE, 1,450 companies advanced while 1,215 stocks declined on Wednesday.

The BSE Sensex tumbled over 500 points in the last hour of trade on Wednesday on massive sell-off across all sectors led by auto, banking and IT shares. The NSE Nifty tested the 10,900 level as selling intensified. The Indian rupee breached the 73 per US dollar mark for the first time today and continued to trade on a weak note at 73.17 against the US dollar, Bloomberg data showed. After a positive start to the day, Sensex shed 150 points in the early trade, even as the broader Nifty fell below the 11,000-mark.

In global markets, Asian shares traded lower on Wednesday and the euro held at six-week lows as Italy’s mounting debt and Rome’s budget plan set it on a collision course with the European Union, Reuters reported. Japan’s Nikkei eased 0.1 per cent on a stronger yen while South Korea’s KOSPI index slipped 1.3 per cent.

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Share Market HIGHLIGHTS: Sensex, Nifty, Indian Rupee vs US Dollar, Latest Stock Market News, NSE, BSE

16:25 (IST)03 Oct 2018
Automobile stocks were battered as fears of margin compression came to fore -- HDFC Securities

"RBI refused to open a special window for oil marketing companies affected market sentiments. Rupee touched a new low of 73.40 to a dollar. Sensex lost 550 points or 1.3% and fell to lowest level in the current downturn. Automobile stocks were battered as fears of margin compression came to fore. Metal stocks especially Aluminum producers were in limelight. World’s largest alumina refinery Norsk Hydro closure buoyed aluminum players. Small cap index bucked the trend it and managed to close in positive on back of value buying."

-- VK Sharma, Head Private Client Group & Capital Market Strategy, HDFC Securities

15:55 (IST)03 Oct 2018
Negative global cues, boiling oil prices, weak rupee behind today's fall -- Epic Research

"Volatility continues to expand as Nifty pares its previous gain to end at 10858, its lowest level in recent fall from 11750 levels. There are multiple reasons that were behind today's fall and sentiments that turned negative over a holiday. Negative global cues were the first reason that aided to today's sell-off. Secondly, continuous rise in the oil prices with Brent hitting $85 mark rose some eyebrows and worries. Crude was above $75 mark and worries over CAD and its impact of widening. Rupee depreciated to multi-year lows as it hit above 73 marks was, on the other hand, fueled the sentiment. Nifty is in a very tight consolidation between the levels of 11050 to 10800. And we are seeing the lows and close on the lower side being expanded along with the rise in volatility. With today's close and build up in PE of 10900 - 11000 we expect Nifty to test lower levels of 10700 in coming days while resistance is now reframed at 11000 levels."

-- Mustafa Nadeem, CEO, Epic Research.

15:37 (IST)03 Oct 2018
CLOSING BELL: Sensex closes 550 points lower; Nifty down 150 points; M&M loses 7%

The Indian stock markets closed Wednesday's trade in the negative territory with the BSE Sensex slumping over 590 points intra-day and the Nifty slipping below the 10,850 level. M&M was the top loser on Wednesday, closing 7% lower.

15:29 (IST)03 Oct 2018
Sensex extends fall to 594 points, slips below 36,000

The BSE Sensex fell to its lowest level intra-day and dropped 594 points to hit a low of 35,931.82 points in the last `15 minutes of trade on Wednesday. 

15:18 (IST)03 Oct 2018
NSE live! All sectoral indices in red barring Nifty Realty and metals

The NSE Nifty index tanked over 150 points in late afternoon trade deals as selling intensified across sectors. All the sectoral indices -- barring the realty and metals sectors -- traded with losses. Nifty Auto was the top drag, down 2.77%.

15:13 (IST)03 Oct 2018
BSE live: Sensex plunges over 500 points as sell-off intensifies; 24 out of 30 stocks in red

The BSE Sensex tumbled over 500 points in the last hour of trade on Wednesday on massive sell-off across all sectors led by auto, banking and IT shares. Out of the 30 Sensex stocks, 24 shares traded in the red.

BSE Sensex heatmap
14:48 (IST)03 Oct 2018
Sensex extends fall, down 400 points as auto, IT, banking stocks drag; Nifty below 10,900

Share market live: The BSE Sensex extended losses during late-afternoon trade deals on Wednesday, with the index falling over 400 points. The NSE Nifty tested the 10,900 levels as heavy selling pressure was witnessed in auto, IT and Banking stocks.

14:42 (IST)03 Oct 2018
Mukesh Ambani’s Reliance Industries responds to rumours on buying Hathway Cable

Mukesh Ambani’s Reliance Industries on Wednesday clarified that it is “unable to comment on media speculation and rumors” on acquiring Digital cable TV and broadband services provider Hathway Cable. Responding to a stock exchange’s query, RIL said it will continue to make disclosures in compliance with the company’s agreements with the stock exchanges.

13:46 (IST)03 Oct 2018
Sector UPDATE: FMCG stocks mixed; Godrej Consumer Products down 3.8%

FMCG stocks were trading on a mixed note on Wednesday. Check FMCG stocks here:

13:42 (IST)03 Oct 2018
Share market LIVE! Bharti Airtel, Bandhan Bank among buzzing stocks today

Bharti Airtel, Bandhan Bank, Eicher Motors among buzzing stocks in trade today.

13:26 (IST)03 Oct 2018
BSE live! Oil and gas stocks rise; RIL shares down

The S&P BSE oil and gas index traded with gains during the mid-afternoon trade session, up 1.06%, with shares of Hindustan Petroleum trading higher by almost 4%. RIL shares were trading lower by 1.19%.

13:20 (IST)03 Oct 2018
Italian stocks, banks lead Europe as budget deficit fears quelled

Italian stocks turned from a drag into a boost for European markets on Wednesday as signs the government would target a lower budget deficit quelled investors' fears of a damaging showdown with the European Commission, reported Reuters. Italian bank stocks jumped 3.1% after government bond yields fell back and the spread to Bunds narrowed thanks to reports the government was targeting a lower budget deficit in 2020 and 2021.

Still in the thrall of developments on the Italian front, the leading euro zone stocks index and the pan-European STOXX 600 both rose 0.3 percent by 0720 GMT, with bank stocks the best-performing, up 1.1 percent. Italy's FTSE MIB outperformed, up 1.4 percent. Italy's biggest banks Unicredit and Intesa Sanpaolo were among the top gainers, up 2.6 percent each, while Mediobanca, UBI Banca, and Banco BPM also rose as much as 5 percent.

13:17 (IST)03 Oct 2018
Sector UPDATE: IT stocks mixed; Infibeam Avenues gains over 13%

IT stocks traded mixed on Wednesday, with Infibeam shares surging over 13% during mid-afternoon trade deals. TCS was the top drag on the Nifty IT index, down over 3%. Check out the top Nifty IT stocks here:

13:01 (IST)03 Oct 2018
Government plans Bharat-22 ETF listing on an overseas exchange: Report

The government is planning to list Bharat-22 ETF on an overseas stock exchange to unlock its value and raise foreign capital, said a PTI report. The government has already raised Rs 22,900 crore through two tranches of Bharat-22 Exchange Traded Fund (ETF) in the domestic markets. “There have been some initial discussions on whether Bharat-22 ETF can tap the overseas markets,” PTI reported an official as saying.

After the government decides on an overseas listing, the investment bankers would assess investor demand and a final call would then be taken on which stock exchange the ETF is to be listed, the official said. Launched in 2017-18 fiscal, the Bharat 22 ETF, consist of 16 central public sector enterprises (CPSEs), three PSU banks and three private sector companies — ITC, L&T and Axis Bank — where Specified Undertaking of Unit Trust of India (SUUTI) holds stake.

12:29 (IST)03 Oct 2018
Sector update: Metals sector gains; Vedanta top gainer, up over 5%

Even though the NSE Nifty remained under pressure, the Nifty Metals index traded with gains during the afternoon trade session, with Vedanta emerging as the top gainer on the index. Check other gainers on the Nifty Metals index:

12:25 (IST)03 Oct 2018
Sensex LIVE: BSE Sensex trims some losses; check the top gainers and losers

The BSE Sensex trimmed some losses and traded 89.77 points or 0.25% lower at 36,436.37 points during afternoon trade on Wednesday. The Sensex had plunged 325 points to an intra-day low of 36,200.99 in mid-morning trade deals. Here are the top gainers and losers on the index in afternoon deals:

11:59 (IST)03 Oct 2018
Indian rupee recovers from record low after report of talks on special dealer window for oil firms

The Indian rupee recovered sharply from record low levels on Wednesday, said a Reuters report. The report said the rupee recovered after NewsRise reported that the government was in talks with the central bank for a special dollar swap window with some state-run fuel retailers. The partially convertible rupee briefly traded stronger on the day at 72.90 per dollar against its previous close of 72.91 after the news report. It had touched a life low of 73.42 earlier in the session. By 0532 GMT, the rupee was trading at 73.05/06 per dollar. Traders said high global crude oil prices and weaker domestic shares will continue to keep the downward pressure on the Indian currency.

11:31 (IST)03 Oct 2018
Auto, Telecom shares tank

Shares of Auto as well as telecom sectors fell on Wednesday, even as rising crude oil prices and depreciating rupee added to the pressure. Shares of M&M, Maruti Suzuki, Tata Motors fell by up to 3% in the morning trade. Maruti Suzuki shares fell by more than 2.6% to hit the day's low at Rs 7,211, while shares of M&M fell by more than 3.3% to hit the day's low at Rs 815.35. In the telecom space, Idea shares fell to near all-time lows at Rs 37.25, while shares of Bharti Airtel fell to a 52-week low of Rs 316.35.

10:45 (IST)03 Oct 2018
IL&FS group shares extend gains for second consecutive day; rally up to 20%

Shares of IL&FS group extended gains on Wednesday, after the government stepped in and moved the National Company Law Tribunal (NCLT) on Monday to remove the existing board of directors of IL&FS and nominated banker Uday Kotak to oversee the revival. IL&FS Engineering &Construction Company shares gained 20% to hit the upper circuit on BSE at Rs 19.22. IL&FS Transportation Networks stocks gained 20% to hit Rs 32.30 on BSE. Shares of IL&FS Investment Managers gained about 10% to on BSE to hit the day's high at Rs 9.43. 

10:29 (IST)03 Oct 2018
Bank stocks under pressure; HDFC Bank, Axis Bank, IndusInd shares plunge 1.5%

Bank shares were trading with heightened pressure this morning, with stocks of HDFC Bank, IndusInd Bank and Axis Bank falling by more than 1% each. 

09:59 (IST)03 Oct 2018
IT shares Infosys, TCS, HCL slip up to 2.5%

IT shares were trading with heightened pressure this morning, with shares of Infosys, TCS and Wipro slipping up to 2.5%, Infosys shares tanked by more than 1% to hit the day's low at Rs 738.6. while shares of IT behemoth TCS plunged 2% to hit the day's low at Rs 2,210. Wipro shares too were trading 2% lower at Rs 322.5.

09:33 (IST)03 Oct 2018
Rupee plunges to record low to below Rs 73 against USD

The Indian rupee dropped to a record low in opening deals on Wednesday as a sharp rise in global crude oil prices over the last two sessions weighed on sentiment for the local unit. The partially convertible rupee hit 73.34 per dollar in early trade, an all-time low, and sharply lower than its previous close of 72.93, Reuters reported. 

09:19 (IST)03 Oct 2018
Sensex opens 150 points lower: Heat map

09:11 (IST)03 Oct 2018
Yes Bank shares in focus

 Shares of Yes bank are likely to remain in focus, as Care Ratings has put certain debt instruments of the bank under watch. The rating was influenced by the Reserve Bank of India’s (RBI’s) decision to cut short the tenure of the bank’s managing director and chief executive Rana Kapoor.  On Monday, the shares had rallied about 9% intra-day. and closed the day at Rs 205.

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