Highlights

3.32 pm ISTClosing bell
3.20 pm ISTPNB raises Rs1,315 crore by selling PNB Housing Finance shares
2.43 pm ISTMarket update
2.40 pm ISTRupee trades lower against US dollar
2.38 pm ISTBHEL receives order worth Rs215
1.22 pm ISTMarket update
1.20 pm ISTEncore Healthcare files insolvency case against Bafna Pharma
1.04 pm ISTHSBC Global Research begins coverage on IndiGo, SpiceJet, JetAirways
1.00 pm ISTFitch withdraws RCom ratings
12.57 pm ISTShalby IPO subscribed 3% so far on first day
11.45 am ISTMarket update
11.33 am ISTServices activity falls in November
11.30 am ISTShalby IPO opens today
10.26 am ISTAsian Development Bank approves financing of Reliance Power project
10.23 am ISTHPCL shares gain as brokerage firm maintains rating
10.20 am ISTEros International Media shares rise on $100 million funding by unit
9.37 am ISTMarket update
9.35 am ISTReliance group shares fall
9.33 am ISTBharat Forge shares gain on November sales data
9.30 am ISTJust Dial shares rise 2% on stake purchase by HDFC MF
9.18 am ISTSensex, Nifty open lower
9.15 am ISTRupee opens higher against US dollar
9.13 am ISTAsian currencies trade higher

BSE Sensex and NSE Nifty closed lower on Tuesday. Photo: Reuters

Mumbai: The BSE Sensex and NSE Nifty closed marginally lower on Tuesday as traders are cautious ahead of the Reserve Bank of India’s policy decision on Wednesday. The Nifty PSU Bank rose 1.37% led by SBI, which was up 2.17%. On the losing side, the BSE Power fell 1.06%. SBI, Bharti Airtel and Reliance Industries were the top gainers, while Hero MotoCorp, Wipro and Tata Steel were among the major losers.Most of the analysts polled by Mint expect the central bank to keep interest rates on hold for a prolonged period starting with its policy meeting on concerns of rising inflation. All 15 economists surveyed expect the central bank’s monetary policy committee (MPC) to keep the key repo rate unchanged at 6% when it announces its decision on Wednesday. Here are the latest updates from the markets:
3.32 pm IST Closing bellBSE Sensex closed lower by 67.28 points, or 0.20%, to 32,802.44, while the Nifty 50 edged down 9.50 points, or 0.09%, to close at 10,118.25.
3.20 pm IST PNB raises Rs1,315 crore by selling PNB Housing Finance sharesPunjab National Bank said it has raised Rs1,315.33 crore through offering 9,815,860 shares of PNB Housing Finance Ltd to different investors. Shares rose 1.56% to Rs175.80.
2.43 pm IST Market updateBSE Sensex traded little changed at 32,873.21, up 3.49 points, or 0.01%, while the Nifty 50 edged up 8.10 points, or 0.08%, to 10,135.85.
2.40 pm IST Rupee trades lower against US dollarThe home currency was trading at 64.40 a dollar, down 0.05% from its Monday’s close of 64.38. The rupee opened at 64.34 a dollar, and touched a high and a low of 64.23 and 64.43 respectively. The 10-year bond yield was at 7.062%, compared to its previous close of 7.083%.
2.38 pm IST BHEL receives order worth Rs215Bharat Heavy Electricals Ltd said it has received an order worth Rs215 crore for renovation and modernization of electrostatic precipitators at Kahalgaon super thermal power station in Bihar. Shares were down 0.50% at Rs90.05
1.22 pm IST Market updateBSE Sensex traded lower by 175.34 points, or 0.53%, to 32,694.38, while the Nifty 50 fell 45.35 points, or 0.45%, to 10,082.40.
1.20 pm IST Encore Healthcare files insolvency case against Bafna PharmaBafna Pharmaceuticals Ltd said Encore Healthcare Pvt. Ltd has filed a case against the company under the Insolvency and Bankruptcy Code with the National Company Law Tribunal in Chennai. Bafna Pharma shares were down 0.38% to Rs25.95.
1.04 pm IST HSBC Global Research begins coverage on IndiGo, SpiceJet, JetAirwaysHSBC Global Research initiates coverage on IndiGo, SpiceJet and Jet Airways stocks, Reuters reported. HSBC begins coverage of IndiGo at “buy” and Rs1,500 price target. SpiceJet Ltd is rated “buy” with a price target of Rs180. Jet Airways (India) Ltd is rated at “hold” with a price target of 600 rupees.Overall, HSBC optimistic on airline sector, saying industry is “at the cusp of a strong recovery” Cites favourable government policies and consolidation in the market as positives. Adds FX, more fuel efficient fleets will offset impact of rising fuel prices.Shares of IndiGo parent InterGlobe Aviation were down 0.32%, Spicejet fell 1.35% and JetAirways declined 1.47%.
1.00 pm IST Fitch withdraws RCom ratingsFitch Ratings has withdrawn India-based Reliance Communications Ltd’s (RCom) long-term foreign- and local-currency issuer default ratings of ‘Restricted Default’ and the rating on RCom’s $300 million 6.5% senior secured notes due 2020 of ‘C’ with Recovery Rating of ‘RR4’, the rating agency said in a news release. RCom shares traded 4.07% lower at Rs11.07.
12.57 pm IST Shalby IPO subscribed 3% so far on first dayShalby Ltd’s initial public offering (IPO) was subscribed 3% so far on the first day of the share sale on Tuesday, data from stock exchanges showed. As of 12.30pm, the IPO received bids for 470,460 shares against the total issue size of 14,521,686 shares, according to NSE data. The IPO closes on 7 December
11.45 am IST Market updateBSE Sensex traded lower by 144.32 points, or 0.44%, to 32,725.40, while the Nifty 50 fell 41.85 points, or 0.41%, to 10,085.90.
BSE Sensex trades lower by nearly 150 points, while the Nifty 50 trades below 10,00.
11.33 am IST Services activity falls in NovemberActivity in India’s dominant services industry shrank in November as rising prices, driven up in part by the new national sales tax, took a toll on both foreign and domestic demand, a business survey showed on Tuesday, Reuters reported. November’s Nikkei/IHS Markit Services Purchasing Managers’ Index fell to 48.5—its lowest since August—from 51.7 in October, well below the 50 mark that separates expansion from contraction
11.30 am IST Shalby IPO opens todayThe initial public offering (IPO) of Shalby Ltd will open for subscription on Tuesday with a price band of Rs245-248 per share. The group, which runs a multi-specialty hospital chain, aims to raise Rs504.8 crore through the share sale that will close on 7 December.
10.26 am IST Asian Development Bank approves financing of Reliance Power projectReliance Power Ltd said that Asian Development Bank has approved financing $583 million for a power plant and LNG terminal project in Bangladesh. Shares traded 0.41% lower at Rs36.60.
10.23 am IST HPCL shares gain as brokerage firm maintains ratingHindustan Petroleum Corp Ltd rose 1.4% to Rs417.25 after brokerage firm Citi maintained ‘Buy’ with price target of Rs564, implying a potential upside of 37% form Monday’s close.
10.20 am IST Eros International Media shares rise on $100 million funding by unitEros International Media Ltd rose 1.5% to Rs210.50 after its arm Eros International Plc Announces $100 Million equity-linked financing.
9.37 am IST Market updateBSE Sensex plunged 163.26 points, or 0.50%, to 32,706.46, while the Nifty 50 fell 37 points, or 0.37%, to 10,090.75.
9.35 am IST Reliance group shares fallAnil Dhirubhai Ambani companies fell further. Reliance Communications Ltd fell 6%, Reliance Naval and Engineering Ltd declined 2.11%, Reliance Capital 0.5%, Reliance Infrastructure Ltd 1%.
9.33 am IST Bharat Forge shares gain on November sales dataBharat Forge Ltd rose 2.2% to Rs690.15 after its North America Class 8 trucks sales rose 68% year-on-year at 32,387 units in November.
9.30 am IST Just Dial shares rise 2% on stake purchase by HDFC MFJust Dial Ltd rose 2% to Rs500 after HDFC MF bought 9 lakh shares, or 1.3% stake, in the company at Rs500 a share.
9.18 am IST Sensex, Nifty open lowerBSE Sensex opened lower by 65.51 points, or 0.20%, to 32,804.21, while the Nifty 50 fell 18.05 points, or 0.18%, to 10,109.70.
9.15 am IST Rupee opens higher against US dollarIndian rupee strengthened marginally against the US dollar tracking gains in the Asian currencies market. The rupee opened at 64.34 a dollar. At 9.15am, the home currency was trading at 64.31 a dollar, up 0.10% from its Tuesday’s close of 64.38. The 10-year bond yield was at 7.068%, compared to its previous close of 7.083%.
9.13 am IST Asian currencies trade higherAsian currencies were trading higher. South Korean won was up 0.51%, Malaysian ringgit 0.22%, Philippines peso 0.19%, Singapore dollar 0.13%, Thai Baht 0.12%, Indonesian rupiah 0.12%, China renminbi 0.11%, China Offshore 0.1%, Taiwan dollar 0.08%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.054, down 0.14%, from its previous close of 93.188.