(G.N.S) Dt. 15
Benchmark indices BSE Sensex and NSE’s Nifty 50 closed lower on Thursday dragged by banking and energy stocks. Banking shares declined further after investigative agencies registered a fresh case relating to “fraudulent” issuance of Rs9 crore of letters of undertaking to Chandri Papers and Allied Products by Punjab National Bank’s (PNB) Brady House branch. Sixteen out of 19 sectoral indices on BSE ended lower with energy, oil and gas, metal, FMCG and bankex suffered most. Moreover, Asian markets traded lower after the Wall Street declined amid concerns over heightened trade tensions.Meanwhile, domestic institutional investors sold shares worth Rs432.03 crore on net basis, and foreign portfolio investors unloaded shares of Rs258.98 crore on Wednesday. Traders are awaiting trade deficit data for February due later in the day. Here are the latest updates from the markets:
BSE Sensex closed lower by 150.20 points, or 0.44%, to 33,685.54, while the Nifty 50 fell 50.75 points, or 0.49%, to close at 10,360.15. BSE MidCap and SmallCap outperformed the benchmark Sensex and closed higher by 0.49% and 0.80%, respectively. Asian Paints, HDFC Bank, M&M and Coal India were top gainers, whereas Yes Bank, Reliance Industries, ICICI Bank and Hindustan Unilever were among the major losers.
Europe’s major stock markets rose in opening deals, with London’s benchmark FTSE 100 index adding about 0.2% to reach 7,134.73 points. In the eurozone, Frankfurt’s DAX 30 index won 0.4% to 12,284.14 points and the Paris CAC 40 also gained 0.4% to 5,252.22.
The rupee weakened marginally against the US dollar, tracking losses in the Asian currencies market. The local currency was trading at 64.87 a dollar, down 0.05% from its previous close of 64.84. The home currency opened at 64.93 a dollar and touched a high and a low of 64.81 and 64.98 respectively. Yields on 10-year government bonds was at 7.649% compared to Wednesday’s close of 7.685%.
BSE Sensex traded lower by 25.87 points, or 0.08%, to 33,809.87, while the Nifty 50 inched down 13.45 points, or 0.13%, to 10,397.45. Among the sectoral indices on BSE, realty gained most at 0.75%, followed by healthcare 0.48% and consumer discretionary goods and services 0.47%, while oil and gas fell 0.86%, energy 0.85% and metal 0.26%. Meanwhile, BSE MidCap and SmallCap gained 0.58% and 0.87%, respectively.
HDFC Asset Management Co Ltd has filed papers for an initial public offering of up to 25.5 million shares. Book-running managers for IPO are Kotak Investment Banking, Axis Capital, Bofa Merrill Lynch, Citigroup Global Markets, CLSA India.
Sundaram Clayton Ltd said the board has declared an interim dividend of Rs15 per share for the fiscal year ending March, payable after 27 March. Shares gained 0.72% to Rs4816.
Power Finance Corp. Ltd said its unit PFC Consulting Ltd has transferred Fatehgarh-Bhadla transmission to Adani Transmission Ltd, and Goa-Tamnar transmission project to Sterlite Grid 5 Ltd. Shares traded 1.33% up at Rs87.85.
Genus Power Infrastructures Ltd said it has won a contract from Jharkhand Bijli Vitran Nigam Ltd for 10,000 distribution transformer meters worth Rs54 crore. Shares rose 5.60% to Rs57.50.
BSE Sensex traded lower by 85.91 points, or 0.25%, to 33,749.83, while the Nifty 50 inched down 30.45 points, or 0.29%, to 10,380.45.
Binani Industries Ltd shares rose 5% to Rs101.70 after Bloomberg reported that Bain-Backed Dalmia Group said to win lenders’ backing for Binani.
Videocon Industries Ltd shares rose 5% to Rs16.25 after the company said Videocon D2H sees Dish TV merger effective on or after 22 March. Videocon d2h says it sees delisting its American Depositary Shares, or ADSs, from the Nasdaq Global Market on or about April 5
BSE Sensex traded higher by 17.99 points, or 0.05%, to 33,853.73, while the Nifty 50 inched up 1.75 points, or 0.02%, to 10,412.65. BSE MidCap gained 0.80% and SmallCap was up 0.82%. Among the sectoral indices on BSE, realty, healthcare, consumer discretionary goods and services, and auto traded higher, while oil and gas, energy and bankex declined.
MMTC Ltd shares rose 15% to Rs59.10 after the company said its board will meet on 19 March to consider bonus shares.
Welspun Enterprises Ltd shares rose 1% to Rs156 after the company said it emerged lowest bidder in NHDP project.
Bandhan Bank IPO for long-term investors, decent listing gains unlikely, say analysts
Brokerages recommend investors to apply for Bandhan Bank IPO that opens today from a long-term perspective, on the back of healthy financials and high return ratios.
Wipro Ltd shares rose 1.4% to Rs297.50 after the company said it has signed an agreement to sell hosted data centre services business to US-based firm Ensono for $405 million.
Housing Development and Infrastructure Ltd fell 5% to Rs43 after The Times of India reported that the Maharashtra Housing Area Development Authority (MHADA) filed a case against Housing Development and Infrastructure Ltd (HDIL), a listed construction company, for duping the government agency to the tune of around Rs1,200 crore.
Fertiliser stocks were trading higher. Rashtriya Chemicals & Fertilizers Ltd rose 6.6%, Nagarjuna Fertilizers gains as much as 8%, Gujarat State Fertilizers 4%, National Fertilizers 4%, Fertilizers & Chemicals Travancore 5%, Zuari Agro Chemicals 1.8%, Mangalore Chemicals 1.5% and Chambal Fertilisers 2.1%
The rupee weakened marginally against the US dollar, tracking losses in the Asian currencies market. The home currency opened at 64.93 a dollar. At 9.15am, the local currency was trading at 64.92 a dollar, down 0.10% from its previous close of 64.84. Yields on 10-year government bonds was at 7.667% compared to Wednesday’s close of 7.685%. Bond yields and prices move in opposite directions.
BSE Sensex traded lower by 23.95 points, or 0.07%, to 33,811.79, while the Nifty 50 fell 21.55 points, or 0.21%, to 10,389.35.