Share Market today: Sensex dives 273 points, Nifty falls 98 points as sell-off intensifies; small-caps bleed

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Updated:Jun 27, 2018 5:16:07 pm

Share Market today: Indian stock markets opened flat on Wednesday following the flat closing on major US stock indices on Wall Street and crude oil prices boiling again with Brent crude oil price surpassing beyond $76 per barrel and US WTI crude oil price inching above $70 a barrel.

Share Market today: A man looking at the stock ticker outside Bombay Stock Exchange. (Image: Reuters)

Share Market today: Indian stock markets opened flat on Wednesday following the flat closing on major US stock indices on Wall Street and crude oil prices boiling again with Brent crude oil price surpassing beyond $76 per barrel and US WTI crude oil price inching above $70 a barrel. According to a Reuters report, Crude oil prices rose due to supply disruptions in Libya and Canada and after US officials said all countries should stop Iranian crude imports from November. Meanwhile, most of the Asian share markets were under pressure in the early trade today following the weakness in Chinese stocks and rising crude oil prices after the United States pressured allies to stop buying Iranian crude.

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Share Market Live Updates: Sensex, Nifty, Top Stocks, Big Gainers and Losers

17:16 (IST)27 Jun 2018
Varroc IPO oversubscribed on day 2 of bidding

Varroc IPO oversubscribed on second day of bidding as institutional investors gather in huge numbers

The IPO of Varroc Engineering which opened on Tuesday, 26 June 2018, got oversubscribed on the second day of bidding following a heavy subscription from QIBs (Qualified Institutional Investors) through NSE today. Varroc Engineering has expected to raise Rs 1,755 crore at the upper end of the price band set at Rs 965 to Rs 967. Tomorrow, 28 June 2018, will be the last day of bidding.

16:17 (IST)27 Jun 2018
Varroc IPO: Subcribed nearly 100%

Varroc IPO got subscribed nearly 100% in the early-evening bidding session following heavy subscription from institutional investors. As at 4:10 pm, Varroc IPO was subscribed 99.58% with 50 minutes still left for subscription on the second day of bidding.

Investor-category wise subscription details:

QIBs (Qualified Institutional Buyers): 3.1776 times

Non-Institutional Investors: 2.54%

Retail Investors: 17.89%

Employees: 24.47%

15:58 (IST)27 Jun 2018
Market-wide sell-off!

15:52 (IST)27 Jun 2018
Closing bell: Market finishes in negative territory

India's share market ended in negative territory on Wednesday with BSE Sensex and NSE Nifty falling more than 1% in late trade with shares of BPCL, HPCL, IOC, GAIL, UPL, L&T, ICICI Bank, ZEEL, Eicher Motors, Hindalco, SBI, Tata Motors, Ultratech Cement, Bajaj Finserv, Bajaj-Auto, NTPC, Adani Ports, Grasim, Tata Steel, Bajaj Finance, ONGC, Lupin, Axis Bank, Power Grid and Hero MotoCorp plunging 1 to 8%.

BSE Sensex settled down 272.93 points or 0.77% at 35,217.11 whereas NSE Nifty concluded 97.75 points or 0.91% lower at 10,671.4 on Wednesday. Other broader market indices on NSE such as Nifty Next 50, Nifty 100, Nifty 200, Nifty 500, Nifty Midcap 50, Nifty Midcap 100, Nifty Smallcap 100 all ended in red with small-cap and mid-cap indices falling the most.

"Market sentiment is getting weak due to weakening rupee and lingering trade war between US & other major economies. The market is struggling for direction due to lack of domestic triggers while investors remained on a cautious note ahead of F&O expiry. Banks and Metals led the losses while IT outperformed due to rupee depreciation," said Vinod Nair, Head of Research, Geojit Financial Services.

15:30 (IST)27 Jun 2018
Markets in deep red: Volatility escalates

Following the market-wide sell-off, volatility inched higher in the last minute trade. India Vix, the volatility indicator on NSE, jumped 7.71% to a day's high of 13.7850. Out of the eleven sectoral indices, nine were trading in red with Nifty PSU Bank, Nifty Realty, Nifty Media falling more than 2%. Nifty IT index was the only index which was trading in green.

15:26 (IST)27 Jun 2018
Heavyweights drag: ICICI Bank, Reliance Industries and L&T

Shares of ICICI Bank, Reliance Industries (RIL) and L&T were the biggest contributor to the Sensex losses among all the components of the index. Collectively, these two stocks alone wiped off more than 160 points out of BSE Sensex. On contrary, HDFC Bank was the only major contributor which helped in offsetting the losses marginally.

15:22 (IST)27 Jun 2018
Jaiprakash Associates stock: Biggest loser among 'A' group of BSE

Shares of Jaiprakash Associates was the biggest losers among the deck of 'A' group of BSE on Wednesday. The stock of Jaiprakash Associates lost as much as 12.43% to a day's low of Rs 14.8. Jaiprakash Associates shares made a 52-week low of Rs 12.8 on 21 May 2018. 

15:18 (IST)27 Jun 2018
Sell-off intensifies: Sensex falls over 300 points!

15:16 (IST)27 Jun 2018
Crude oil prices rising: OMCs shares dive!

Shares of the major domestic oil marketers fell up to 8% in the last few minutes of trading on Wednesday with BPCL emerging as the biggest losers among three big oil marketing companies. Shares of BPCL traded down 8.16%, HPCL tanked 7.5% and IOC fell 6.12%.

15:12 (IST)27 Jun 2018
Anil Ambani, Gautam Adani Group shares tumble: RCom tanks 7%; Adani Enterprises falls 10%

Shares of ADAG (Anil Dhirubhai Ambani Group) and Gautam Adani Group fell in the late afternoon deals on Wednesday with the share of Adani Enterprises leading the losses. The stock of Adani Enterprises slipped more than 10% to a day's bottom of Rs 114 today. Other Anil Ambani Group shares which fell are RCom (down 7%), Reliance Infra (down 4.76%), Reliance Naval and Engineering (down 4.69%), Reliance Power (down 4.13%), Reliance Capital (down 3.3%). Shares of Adani Transmission fell 5.78% and Adani Power tumbled 4.37%. 

15:03 (IST)27 Jun 2018
Sensex dips: Only 4 stocks trade in green!

14:31 (IST)27 Jun 2018
Crude oil supply uncertainty!

The US has told all countries, including India and China, to stop their oil imports from Iran by November 4 or face sanctions for carrying out any transaction with Tehran as there would be "zero" waivers to any country, a PTI report said. Iran is India's third-largest oil supplier behind Iraq and Saudi Arabia. It supplied 18.4 million tonnes of crude oil during April 2017 and January 2018 (first 10 months of 2017-18 fiscal), PTI report added. 

14:28 (IST)27 Jun 2018
Rupee crashes 40 paise vs USD

The Indian rupee extended losses in the afternoon dealings against US dollar following the negative global cues and inflating crude oil prices. The rupee crumbled as much as 40 paise marked a fresh 19-month low at 68.66 per US dollar at the interbank foreign exchange market on Wednesday. 

Brent crude oil was trading at a level of around $76 per barrel. Oil prices rose on a supply disruption in Canada, falling US crude stocks, uncertainty over Libyan exports and after US officials told importers to stop buying Iranian crude from November, Reuters said in a report.

13:39 (IST)27 Jun 2018
Market falls as sell-off deepens

The domestic share markets extended losses in the afternoon session with BSE Sensex and NSE Nifty losing more than 0.7% following the plunge in the shares of ICICI Bank, RIL, L&T, IOC, BPCL, HPCL, HDFC and ITC. The S&P BSE Sensex lost as much as 251.73 points to hit a day's low of 35,238.31 while NSE Nifty hit a day's bottom of 10,678.35, down by 90.8 points. 

13:16 (IST)27 Jun 2018
IT stocks shine

Shares of most of the IT companies advanced on Wednesday with the stock of Tech Mahindra rallying more than 3%. Other stocks which joined the jubilation include HCL Tech (up 1.1%), TCS (0.96%), KPIT (up 0.63%) and Infosys (up 0.25%). 

12:50 (IST)27 Jun 2018
Looking for large-cap stocks to invest?

This $3 billion asset manager is betting on these large-cap stocks in India

Teresa Barger, the Co-Founder and CEO of Cartica Management said that India seems to be reasonably insulated from the development. Cartica Management LLC, which manages more than $3 billion globally in assets under management (AUM) has significant investments in these two banks in India. 

12:41 (IST)27 Jun 2018
Varroc IPO: Should you subscribe?

Varroc IPO was subscribed 35.41% as at 12:30 pm on the second day of bidding. The domestic research and brokerage firm Prabhudas Lilladher has said that Varroc Engineering has a healthy balance sheet. "Varroc is a low leveraged company with a healthy Debt/Equity ratio of 0.3x. The company has repaid ~Rs 4.3 billion of overall debt over FY16-18. While the business is capital intensive, the company generated a free cash flow of ~Rs 4.8 billion in FY18," Prabhudas Lilladher said in a research report.

"Given the stable business model, comprehensive product portfolio, strong OEM relationships, owned technology platforms, healthy balance sheet (D/E at 0.3x) and decent return ratios (RoCE/RoE of 14%/16%), the stock is structurally a good story. However, in the current market conditions, the same is steeply valued with nothing left on the table in terms of listing gains. We recommend “Subscribe” to the issue only with a long-term investment strategy of 24 to 36 months, Prabhudas Lilladher report added. 

12:21 (IST)27 Jun 2018
Sensex tanks 100 points

BSE Sensex lost 100 points in the mid-session as heavyweight shares collapse. A sharp fall in the shares of ICICI Bank, L&T, Reliance Industries, ITC and Axis Bank steered the index to lose 100 points. BSE Sensex made a low of 35,390.87, down by 100 points. HUL, TCS and Infosys were the only notable gainers among the pack of Sensex components.

11:56 (IST)27 Jun 2018
NDTV stocks zooms 20% on SEBI order

Shares of NDTV surged as much as 20% to rs 39 and hit the upper circuit after the Indian capital market regulator SEBI (Securities and Exchange Board of India) ordered Vishvapradhan Commercial to make an open offer.

11:34 (IST)27 Jun 2018
TCS shares hit fresh all-time high

Shares of India's largest IT company TCS (Tata Consultancy Services) surged nearly 2% to an all-time high in the mid-morning deals on Wednesday.  The stock of fourth-largest IT company in the world added 1.79% to a hit a record high of Rs 1,885.15. According to a Reuters report, TCS stock is expected to move towards the next resistance at Rs 2,033.

11:29 (IST)27 Jun 2018
Shriram Transport Finance Company NCD details

Shriram Transport Finance Company will be offering seven types of NCDs namely based on series: S1 to S7 and each series will be having different specifications. The post-issue modification period will be held on 23 July 2018. The type of Shriram Transport Finance Company's debt securities are offering is secured redeemable non-convertible debentures.

11:14 (IST)27 Jun 2018
New NCD opens today: Shriram Transport Finance Company Ltd

The NCD (Non-Convertible Debenture) offer from Shriram Transport Finance Company Ltd will be open for subscription from today, 27 June 2018, till 20 July 2018. The face value of one bond is Rs 1,000 and the minimum application value is 10 NCDs and in multiple of 1 NCD thereafter. Shriram Transport Finance Company is planning to issue as much as 1 crore NCDs through this offering. Shriram Transport Finance Company is offering a maximum coupon of 9.5% per annum for senior citizens. 

Shriram Transport Finance Company Ltd has appointed Axis Bank, A.K Capital Services, Edelweiss Financial Services, JM Financial and Trust Investment Advisors Private as the lead managers to the issue. 

11:02 (IST)27 Jun 2018
10:55 (IST)27 Jun 2018
Varroc IPO: Second day bidding progresses

As at 10:50 am on Wednesday, Varroc Engineering IPO was subscribed 33.46% with the share reserved for institutional investors receiving the maximum bids. The portion set aside for NIIs (non-institutional investors) received the lowest number of bids as compared to all other investor classes.

10:46 (IST)27 Jun 2018
PSU banks shares extend losses

Most of the PSU bank shares extended losses with IDBI Bank tumbling the most. Shares of IDBI Bank and Syndicate Bank were the biggest losers among the pack of Nifty PSU Bank index. The stock of IDBI Bank was trading down 5.88% at Rs 51.25 while the stock of Syndicate Bank was trading 5.49% lower at Rs 41.35. Other major laggards include Allahabad Bank (down 4.33%), Andhra Bank (down 3.3%), PNB (3%), Oriental Bank of Commerce (down 2.83%), Union Bank of India (down 2.82%), Bank of Baroda (down 2.58%), Canara Bank (down 2.47%), Bank of India (down 2.22%), Indian Bank (down 1.62%) and SBI (down 1.42%). 

10:33 (IST)27 Jun 2018
Market recoils from day's low

The domestic share markets recovered from day's low with BSE Sensex gaining more than 100 points from today's bottom as shares of HDFC Bank, TCS, HDFC, Infosys, HUL and Reliance Industries offset the losses made by ICICI Bank, SBI and ITC. The S&P BSE Sensex rose about 107 points to 35,584 from a day's low of 35,477. 

09:59 (IST)27 Jun 2018
Rupee hits 19-month low vs USD

The Indian rupee today hit a 19-month low against US dollar after crude oil price strengthened. According to a PTI report, The rupee fell 30 paise to a 19-month low of 68.54 per US dollar.

09:55 (IST)27 Jun 2018
PSU bank shares in red

Shares of all the components of Nifty PSU Bank index were trading in negative territory in the early deals on Wednesday. Shares of Union Bank of India and Syndicate Bank hit their respective 52-week lows while stocks of IDBI Bank, Andhra Bank, Oriental Bank of Commerce, Bank of Baroda and Bank of India traded near 52-week low levels.

SBI down 1.01% at Rs 264.7, PNB down 1.5% at Rs 78.65, Canara Bank down 1.64% at Rs 248.9, Bank of Baroda down 1.86% at Rs 115.85. 

09:46 (IST)27 Jun 2018
Manpasand Beverages falls 4%

Shares of Gujarat-based non-alcoholic beverage maker Manpasand Beverages fell more than 4% in the morning deals ahead of the Q4 results for the year ended 31 March 2018. Manpasand Beverages stock touched a day's bottom of Rs 140.75, down by 4.77%. 

09:41 (IST)27 Jun 2018
Market Check: Top movers of Nifty 50 index

Shares of Bharti Infratel, Tech Mahindra, Tata Consultancy Services (TCS), Infosys, Reliance Industries (RIL) and HCL Tech surged more than 1% while stocks of State Bank of India (SBI), Lupin, ICICI Bank, Zee Entertainment Enterprises, Grasim, Axis Bank, Ultratech Cement, NTPC lost more than 1%. The pack of three oil marketers on NSE Nifty IOC, HPCL and BPCL lost more than 3%.

Sensex trading unchanged at 35,490.85 | Nifty trading down 0.07% at 10,761.3. 

09:27 (IST)27 Jun 2018
OMCs crack!! IOC, BPCL, HPCL shares crack

Shares of the major oil marketing companies such as Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) fell in the morning deals after Brent crude oil prices surged above $76 per barrel level. IOC was trading down 3%, HPCL shed 3.2% and BPCL lost 4%. 

09:18 (IST)27 Jun 2018
Opening bell!

Indian stock markets started on a flatter note on Wednesday with Sensex and Nifty opening marginally higher. BSE Sensex opened at 35,543.89 up by 0.15% and NSE Nifty opened at 10,785.5 up by 0.15% on Wednesday. 

09:15 (IST)27 Jun 2018
Rupee loses 29 paise against US dollar

The Indian rupee lost as much as 30 paise against the US dollar within minutes of opening up of the foreign exchange market on Wednesday. The rupee plunged 29 paise apiece US dollar at 68.53 at the interbank foreign exchange market today. Earlier yesterday, the domestic currency (rupee) fell about 11 paise to close at a level of 68.24 per US dollar. 

Earlier yesterday, US stocks found their footing helped by gains in the energy, technology and consumer discretionary sectors after a sharp sell-off a day earlier on spiralling global trade tensions, Reuters said in a report. The Dow Jones Industrial Average rose 30.31 points, or 0.12% to 24,283.11, the S&P 500 gained 5.99 points, or 0.22% to 2,723.06 and the Nasdaq Composite added 29.62 points, or 0.39% to 7,561.63.
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