Mumbai: The BSE Sensex tanked 440 points to end at over three-month low of 31,159.81 due to across the board selling by investors ahead of the expiry of September derivatives and weakness in the rupee amid mixed global cues. Extending its falling streak for the seventh straight session—the longest losing streak since 22 December—the Sensex fell by 439.95 points, or 1.39%, to settle at 31,159.81.
The broader NSE Nifty cracked below the key 9,800-mark and settled down 135.75 points, or 1.38%, at 9,735.75, it lowest closing since 11 August, when it closed at 9,710.80. Sentiments suffered another setback amid expectations of a rate hike by the US Federal Reserve later this year, accelerating the pace of outflows by foreign investors, offsetting unabated buying by domestic institutional investors, brokers said.
Here are the latest updates from the market:
■ 3.33pm: BSE Sensex fell by 439.95 points, or 1.39%, at 31,159.81, while the Nifty 50 fell 132.25 points, or 1.34%, to 9,739.25. The smallcap index fell 2.10% and the midcap was down 1.99%.
■ 3.12pm: BSE Sensex fell by 430 points, or 1.36%, at 31,169.49, while the Nifty 50 fell 137.50 points, or 1.39%, to 9,734.
■ 2.28pm: BSE Sensex fell by 333.71 points, or 1.06%, at 31,266.05, while the Nifty 50 fell 119 points, or 1.20%, to 9,752.60. Twenty eight out of 30 shares of Sensex are trading in negative territory. Shares of TCS and Power Grid are up.
■ 2.00pm: BSE Sensex was trading lower by 236.30 points, or 0.75%, at 31,363.46, while the Nifty 50 fell 69.40 points, or 0.70%, to 9,802.10. The smallcap index was down 0.66% and the midcap fell 0.68%.
■ 1.54pm: Among sectorial indices, the Nifty Bank fell 1.06% to 23,941 points. SBI was down 1.96%, ICICI Bank fell 1.79%, Kotak Bank lost 0.81%, HDFC Bank was down 0.76%. On BSE, most indices were trading in negative, led by the healthcare index, which fell 1.53%.
■ 1.18pm: BSE Sensex was trading lower by 203.35 points, or 0.64%, at 31,396.41, while the Nifty 50 dropped 69 points, or 0.70%, to 9,802.50.
■ 1.10pm: Cadila Healthcare said Zydus Cadila received final approval from USFDA for Indomethacin Extended-release capsules used for treating inflammatory conditions. The company’s shares were trading lower 2.80% at Rs461.
■ 1.05pm: ICICI Lombard General Insurance Co Ltd reversed its morning losses and was trading 5% higher to Rs 677.95. Earlier, it debuted 2.9% on discount after the general insurer’s Rs5,700-crore initial public offer (IPO) was subscribed nearly three times earlier this month
■ 12.35pm: Sensex was trading at 31348.21, down 251 points, or 0.8%, from its previous close while Nifty fell 0.7%, or 70.10 points. to 9801.40 points.
■ 11.58am: BSE Sensex fell by 174 points, or 0.55%, to 31,426, while the Nifty 50 dropped 50 points, or 0.51%, to 9,821.
■ 11.55am: Dabur India announced that it has partnered with Amazon to expand its footprint in the US market. Dabur India shares were trading 0.67% up at Rs310.15.
■ 11.52am: Larsen & Toubro said unit L&T Construction received orders worth Rs2,170 crore. L&T shares fell 0.92% to Rs1148.
■ 11.50am: KEC International Ltd said the company has secured orders worth Rs1,024 crore. Shares of KEC International were down 0.13% at Rs309.
■ 11.25am: BSE Sensex fell by 115 points, or 0.36%, to 31,485, while the Nifty 50 dropped 37 points, or 0.38%, to 9,834.
■ 11.23am: Pharma stocks fell. Divi’s Lab fell 6.4%, Sun Pharmaceuticals Industries Ltd 2.8%, Torrent Pharma 2.7%, Cadila Healthcare 2.3%, Wokhardt Ltd 3%.
■ 10.15am: Hindustan Unilever Ltd fell 2.3% to Rs 1190. Hindustan Unilever Ltd said growth in rural India is yet to recover, highlighting the lingering, albeit fading, fallout of demonetisation and the crisis in agriculture. In an investor presentation made to the Arisaig Consumer Symposium, HUL chief executive Sanjiv Mehta said that in 2016-17, growth in rural markets lagged that in urban ones for the first time since 2011-12.
■ 10.42am: BSE Sensex fell by 174 points, or 0.55%, to 31,426, while the Nifty 50 dropped 55 points, or 0.56%, to 9,810.40.
■ 10.40am: Shares of ICICI Lombard General Insurance Co. Ltd debuted 2.9% lower on the bourses on Wednesday. ICICI Lombard shares opened 1.66% lower on the BSE at Rs650 apiece, compared to the issue price of Rs661, which was the upper end of the price band between Rs651-Rs661 per share.
■ 10.03am: BSE Sensex dropped 9 points, or 0.03%, to 31,591, while the Nifty 50 fell 6 points, or 0.06%, to 9,865.60.
■ 10.00am: Glenmark Pharmaceuticals said it received ANDA approval from the US Food and Drug Administration for Desonide Lotion,0.05%. The company’s shares edged up 0.02% to Rs612.95.
■ 9.50am: Shriram Transport Finance Co Ltd rose 3.4% to Rs1041, while IDFC Ltd fell 0.2%. According to an ET report, IDFC Ltd and the Shriram Group have decided to abandon the merger plan worked out in July this year as shareholder pressure and dilution fears forced them to examine a new, less complicated structure.
■ 9.27am: BSE Sensex opened higher by 83.74 points, or 0.27%, to 31,683.50, while the Nifty 50 rises 16.70 points, or 0.17%, to 9,888.20.
■ 9.25am: Divi’s Laboratories Ltd fell 7% to Rs893.70 after the company said observations in the form 483 issued by the US drug regulator against its Unit 2 of Visakhapatnam facility do not appear to be procedural in nature.
■ 9.23am: Den Network Ltd rose 10% to Rs 95.40 ahead of its AGM due later today. According to an ET report Reliance Industries in talks to acquire DEN Networks; move to help RIL launch home broadband, cable TV services soon.
■ 9.20am: Edelweiss Financial Services Ltd rose 5% to Rs292 after the company said its board approved raising up to Rs2,000 crore through various modes, including bonds, rights issue or qualified institutional placement.
■ 9.15am: The home currency opened at 65.38 a dollar. At 9.15am, the rupee was trading at 65.36 a dollar, up 0.14% from its Tuesday’s close of 65.45.
■ 9.13am: The 10-year bond yield was at 6.67%, compared to its previous close of 6.669%. Bond yields and prices move in opposite directions.
■ 9.10am: Asian currencies were trading lower. Malaysian ringgit was down 0.29%, Thai baht 0.23%, South Korean won 0.17%, Japanese yen 0.16%, Singapore dollar 0.07%, Philippines peso 0.06%. However, China renminbi was up 0.07%, Hong Kong dollar 0.05%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.08, up 0.11% from its previous close of 92.966.
With inputs from PTI