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On first day of 2018 sensex plunged over 200 points lower, closing below 10,450

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BHEL, Coal India, Tata Power and Indiabulls Housing were the top gainers, while IndusInd Bank, Tata Motors, TCS, Bharti Infratel were the top index losers.
3:30 pm Market at Close: Selling pressure in banks and auto stocks, and IT, among others, led to a fall in Indian market, with the Nifty closing below 10,450, while the Sensex plunged over 200 points.
At the close of market hours, the Sensex was down 244.08 points or 0.72% at 33812.75, while the Nifty was down 95.20 points or 0.90% at 10435.50. The market breadth was narrow as 1665 shares advanced, against a decline of 1246 shares, while 746 shares were unchanged.
BHEL, Coal India, Tata Power and Indiabulls Housing were the top gainers, while IndusInd Bank, Tata Motors, TCS, Bharti Infratel were the top index losers.
3:15 pm Market Check: Selling in the last hour of trade pushed the benchmark indices lower on Monday, with the Sensex losing over 200 points, while the Nifty was below 10,450-mark.
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At 15:15 hrs IST, the Sensex is down 204.68 points or 0.60% at 33852.15, and the Nifty down 87.70 points or 0.83% at 10443.00. The market breadth was narrow as 1594 shares advanced, against a decline of 1192 shares, while 869 shares were unchanged.
TCS, HUL, IndusInd Bank and BPCL lost the most on both indices, while BHEL, Wipro, Tata Power and Indiabulls Housing were the top gainers.
2:50 pm IndusInd Bank raises funds: IndusInd Bank said it has raised USD 500 million (about Rs 3,193.75 crore) term loan from overseas lending bodies to expand its business.
The private sector bank has concluded the syndicated term loan facility from a group of overseas investors, it said in a regulatory filing.
The fundraising, along with the funds raised during the ongoing financial year from multilateral institutions ADB and OPIC, will help the bank expand its lending to clients, it said.
The tenor of the loan is for three years and will be used for general banking purposes, it added.
2:30 pm SBI cuts rate: India’s largest bank State Bank of India has given a new year’s surprise to its customers by reducing lending interest rate by 30 basis points (bps) to 8.65 percent.
“Base rate reduced from 08.95% p.a. to 8.65% p.a. w.e.f. 01.01.2018,” SBI said on its website. Base rate is the minimum lending rate below which banks cannot lend.
This may not make a huge impact on the bank but will help a large number of customers who have borrowed loans at base rate (prior to April 2016).
2:10 pm Regulator speak: In Securities and Exchange Board of India’s (Sebi) last board meeting for 2017, the market regulator approved a slew of reforms, one is formation of a universal exchange. In an interview with CNBC-TV18, Ashish Kumar Chauhan, MD & CEO of BSE discussed this and many more issues.
BSE has been ready for commodity trading since 2015, he said.
Integration of currency trading was quick. Commodities took off by 2004-2005. Although financial markets went down in 2008-2009, the commodities market did not go down till 2012-2013, he added.

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