Highlights

3.34 pm ISTMarket update
3.08 pm ISTMarket update
2.13 pm ISTSectoral indices
2.10 pm ISTRupee trades at five-month high against US dollar
1.18 pm ISTJSW Energy calls off acquisition of Bina projects
1.15 pm ISTReliance Naval and Engineering shares gain 28%
12.40 pm ISTMarket update
12.38 pm ISTBandhan Bank plans to offer 119.3 million shares in IPO
12.35 pm ISTPSP Projects shares rise 2%
12.05 pm ISTGayatri Projects shares gain on new order
11.40 am ISTMaruti December sales up 10.3%
11.38 ams ISTHyundai Motor India December sales rises 10%
11 am ISTMarket update
10.57 am ISTHDFC Standard Life shares gain on CLSA rating
10.55 am ISTGolden Tobacco shares rise 5%
10.53 am ISTPhoenix Mills shares rise after share purchase in Graceworks
9.40 am ISTAuto stocks trade higher
9.37 am ISTIT stocks trade lower
9.35 am ISTRupee trades marginally higher against US dollar
9.25 am ISTMarket update

BSE Sensex and NSE Nifty closed lower on Monday. Photo: Mint

Mumbai: The benchmark BSE Sensex on Monday dropped by 244 points, its biggest single-day fall in past one month, to close below the key 34,000-mark on the first trading day of 2018 after a late sell-off in auto, banking and IT stocks. The 50-share Nifty cracked below the 10,500-mark to hit a low of 10,423.10 before settling 95.15 points, or 0.90% down at 10,435.55. Investors started booking profit at record highs in absence of cues from global markets that remained closed for the New Year holiday. There was accelerated selling, particularly in the last hour of trading dragging the key Sensex from record highs, brokers said. Bouts of buying were, however, seen in power, capital goods, realty, healthcare and consumer durables sector stocks that capped the losses to some extent. (PTI)
3.34 pm IST Market updateBSE Sensex closed lower by 244.08 points, or 0.72%, to 33,812.75, while the Nifty 50 fell 95.15 points, or 0.90%, to 10,435.55.
3.08 pm IST Market updateBSE Sensex tanked by 246.88 points, or 0.72%, to 33,809.95, while the Nifty 50 fell 91.15 points, or 0.87%, to 10,439.55.
2.13 pm IST Sectoral indicesAmong the sectoral indices, realty gained most at 2.04% followed by power 1.63%, utilities 1.58% and capital goods 1.05%. On the losing side, IT and teck fell 0.17% and 0.13%, respectively.
2.10 pm IST Rupee trades at five-month high against US dollarThe rupee was trading at 63.66 a dollar, up 0.35% from its Friday’s close of 63.87.The rupee opened at 63.86 a dollar and touched a high of 63.64—a level last seen on 8 August 2017.
1.18 pm IST JSW Energy calls off acquisition of Bina projectsJSW Energy Ltd said it has called of the proposed acquisition of a 500MW thermal power plant located at Bina, District Sagar in Madhya Pradesh from Jaiprakash Power Ventures Ltd. The company’s shares traded 0.19% lower at Rs269.20.
1.15 pm IST Reliance Naval and Engineering shares gain 28%Reliance Naval and Engineering Ltd surged 28% to Rs62.90 on the back of higher volumes.
12.40 pm IST Market updateBSE Sensex traded lower by 11.83 points, or 0.03%, to 34,045, while the Nifty 50 edged down 7.10 points, or 0.07%, to 10,523.60.
12.38 pm IST Bandhan Bank plans to offer 119.3 million shares in IPOBandhan Bank plans to offer up to 119.3 million shares in an initial public offering. The IPO will comprise a fresh issue of up to 97.7 million shares, and an offer for sale of up to 14.1 million shares by IFC and 7.6 million shares by IFC FIG.Kotak Mahindra Capital Co. Ltd, Axis Capital Ltd, Goldman Sachs Securities Pvt. Ltd, JM Financial Institutional Securities Ltd and J.P. Morgan India Pvt. Ltd are the book-running managers for the IPO.
12.35 pm IST PSP Projects shares rise 2%PSP Projects Ltd said its board of directors authorised to execute documents of SBI Working Capital Consortium with other to the tune of Rs410 crore. Shares were trading 1.89% higher at Rs523.90.
12.05 pm IST Gayatri Projects shares gain on new orderGayatri Projects Ltd said it has received an order worth Rs583 crore from National Highways Authority of India. The company’s shares rose 2.43% to Rs231.90.
11.40 am IST Maruti December sales up 10.3%Maruti Suzuki India reported a 10.3% increase in total sales at 130,066 units in December 2017 compared to 117,908 units in the same month of 2016. Domestic sales stood at 119,286 units, up 12.1% from 106,414 units in December 2016. Exports were down 6.2% to 10,780 units as compared with 11,494 units in the same month last year. Shares traded 0.10% up at Rs9741.20.
11.38 ams IST Hyundai Motor India December sales rises 10%Hyundai Motor India Ltd said total sales increased 10% to 62,899 units in December from 57,164 units in the same month of 2016. Domestic sales rose marginally to 40,158 units. Exports increased by 32.9% to 22,741 units. For the year 2017, the company reported domestic sales of 527,320 units, up 5.4% from 500,539 units in 2016.
11 am IST Market updateBSE Sensex traded higher by 34.78 points, or 0.10%, to 34,091.61, while the Nifty 50 rose 4.10 points, or 0.04%, to 10,534.80.
10.57 am IST HDFC Standard Life shares gain on CLSA ratingHDFC Standard Life Insurance Co. Ltd rose 2.6% to Rs396.30 after brokerage firm CLSA has rated the stock with new buy and set price target to Rs455 a share.
10.55 am IST Golden Tobacco shares rise 5%Golden Tobacco Ltd rose 5% to Rs55 after Plus Corporate Ventures, its director Pramod Jain and J.P. Financial Services proposed to buy a combined 4.4 million shares, in Golden Tobacco at Rs 101 apiece, the manager to the offer said in a newspaper advertisement on Monday.
10.53 am IST Phoenix Mills shares rise after share purchase in GraceworksThe Phoenix Mills Ltd rose 4.4% to Rs649 after the company said it bought shares in Graceworks for Rs10 crore.
9.40 am IST Auto stocks trade higherAuto stocks trading higher ahead of the auto numbers due later in the day. Tata Motors Ltd rose 1%, Maruti Suzuki India Ltd 0.6%, Hero MotoCorp Ltd and Bajaj Auto were up 0.5% each.
9.37 am IST IT stocks trade lowerIT stocks fell after the rupee strengthened. Infosys Ltd 1.2%, Tata Consultancy Services Ltd fell 0.7%, Infosys Ltd fell 0.2%, Tech Mahindra Ltd 0.5%, HCL Technologies Ltd 0.2%.
9.35 am IST Rupee trades marginally higher against US dollarThe Indian rupee opened marginally higher against the US dollar in a thinly-traded market on the first day of 2018. The rupee opened at 63.86 a dollar. At 9.15am, the home currency was trading at 63.86 a dollar, up 0.03% from its Friday’s close of 63.87.In the year 2017, the rupee gained 6.35% and Sensex rose 28%, while foreign institutional investors have bought $7.73 billion and $23.27 billion in equity and debt, respectively.The 10-year bond yield was at 7.341% compared to its previous close of 7.326%.
9.25 am IST Market updateBSE Sensex traded higher by 6.83 points, or 0.02%, to 34,063.66, while the Nifty 50 fell 5.80 points, or 0.06%, to 10,524.90.