Highlights

3.33 pm ISTClosing bell
3.20 pm ISTInfosys Finacle partners with Moneythor
3.10 pm ISTApril-January fiscal deficit hit 113.7% of full-year target
2.33 pm ISTGallantt Metal board approves acquisition of GL Steel
2.30 pm ISTZydus Cadila gets USFDA nod to market Dexmedetomidine Hydrochloride Injection
2.27 pm ISTEuropean shares trade lower
2.25 pm ISTRupee trades at three-month low against US dollar
1.45 pm ISTMarket update
1.43 pm ISTFirms line up IPOs worth Rs12,000 crore in March
1.37 pm ISTGranules India unit gets EIR from USFDA
12.40 pm ISTAsian shares trade lower
12.38 pm ISTDhabriya Polywood shares up as unit gets new order
12.35 pm ISTSteel Strips Wheel shares rise on new order
12.33 pm ISTVideocon Industries gets IRDA nod to sell stake in insurance unit
12.30 pm ISTDilip Buildcon shares gain on receipt of new order
11.50 am ISTMarket update
11.47 am ISTFebruary factory growth slows to 4-month low: PMI
11.13 am ISTIndia to grow 7.6% in calendar year 2018: Moody’s
11.10 am ISTDLF shares rise as unit wins bid for land
11.07 am ISTBinani Industries shares gain 5%
10.25 am ISTMarket update
10.23 am ISTMoody’s upgrades IDBI Bank outlook to positive
10.20 am ISTDalmia Bhart wins bid for Binani Cement
9.40 am ISTBanking stocks extend losses
9.37 am ISTCipla shares gain following Roche Pharma tie up
9.35 am ISTPNB shares fall over 5%
9.33 am ISTPNB fraud effect: Fear over public sector banks
9.30 am ISTRupee hits three-month low against US dollar
9.28 am ISTMarket update

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

Mumbai: Benchmark indices closed lower for the second straight session on Wednesday following losses in global equity markets after hawkish comments from US Federal Reserve chair Jerome Powell. Shares of private banks fell led by ICICI Bank, which fell 2.5% following reports that the bank has exposure to Gitanjali Gems group. Moreover, the government reported a fiscal deficit of Rs6.77 trillion for April-January, 113.7% of the target originally set for the fiscal year 2017-18. Traders are also cautious ahead of GDP data due to be released after 5.30pm. Here are the latest updates from the markets:
3.33 pm IST Closing bellBSE Sensex closed lower by 162.35 points, or 0.47%, to 34,184.04, while the Nifty 50 fell 61.45 points, or 0.58%, to close at 10,492.85. BSE MidCap was down 0.23%, whereas SmallCap outperformed the benchmark and rose 0.21%. Among the sectoral indices, IT, teck, realty and consumer durables posted gains, while metal, bankex, finance and capital goods shed most.
3.20 pm IST Infosys Finacle partners with MoneythorInfosys Ltd said unit Infosys Finacle partnered with Moneythor, a Singapore-based digital banking provider, to offer services that will enable financial institutions deliver personalized recommendations and insights to customers on numerous digital channels. Infosys shares rose 1.98% to Rs1171.
3.10 pm IST April-January fiscal deficit hit 113.7% of full-year targetIndia reported on Wednesday a fiscal deficit of Rs6.77 trillion ($103.72 billion) for April-January or 113.7% of the target originally set for the fiscal year that ends in March. Net tax receipts in the first ten months of 2017-18 fiscal year were Rs9.7 trillion, government data showed. (Reuters)
2.33 pm IST Gallantt Metal board approves acquisition of GL SteelGallantt Metal Ltd said its board of directors approved the proposed acquisition of GL Steel and Power Ltd with an investment of up to Rs1 crore. Shares rose 0.46% to Rs43.90.
2.30 pm IST Zydus Cadila gets USFDA nod to market Dexmedetomidine Hydrochloride InjectionCadila Healthcare Ltd said Zydus Cadila has received final approval from the USFDA to market Dexmedetomidine Hydrochloride injection. Shares recovered from day’s low of Rs401 to trade 0.28% lower at Rs405.80.
2.27 pm IST European shares trade lowerEurope’s main stock markets fell at the open, dented by fresh losses overnight on Wall Street and earlier in Asia. In initial deals, London’s benchmark FTSE 100 index dropped 0.5% to 7,247.52 points. In the eurozone, Frankfurt’s DAX 30 lost 0.5% to 12,427.46 points and the Paris CAC 40 shed 0.4% to 5,321.50.
2.25 pm IST Rupee trades at three-month low against US dollarThe Indian rupee and other Asian currencies weakened against the US dollar on Wednesday following hawkish comments from US Federal Reserve chair Jerome Powell. The rupee was trading at 65.29, down 0.52% from its previous close of 64.80. The rupee weakened past 65-mark to hit a three-month low. It opened at 65.10 and touched a low of 65.31 a dollar, a level last seen on 16 November 2017. Yields on 10-year government bonds were at 7.68% compared to Tuesday’s close of 7.67%.
1.45 pm IST Market updateBSE Sensex traded lower by 250.49 points, or 0.73%, to 34,095.90, while the Nifty 50 fell 87.10 points, or 0.83%, to 10,467.20. BSE MidCap was down 0.76% and SmallCap fell 0.40%.
1.43 pm IST Firms line up IPOs worth Rs12,000 crore in MarchAfter a dull start to the year, activity in the initial public offering (IPO) market in India is expected to pick up pace with companies expected to raise more than Rs12,000 crore in the month of March. The first two months of this year witnessed a total IPO fund-raising of Rs3,559 crore from six offerings, with February accounting for just two, data from primary market tracker Prime Database shows.
1.37 pm IST Granules India unit gets EIR from USFDAGranules India Ltd said unit Granules Pharmaceuticals Inc. received an establishment inspection report from USFDA for its Virginia, USA, facility. Shares rose 1.34% to Rs118.85.
12.40 pm IST Asian shares trade lowerAsian shares extended losses as weak Chinese Japanese manufacturing data revived worries about global growth amid anxiety over faster rate rises in the United States. MSCI’s broadest index of Asia-Pacific slipped more than 1%. Japan’s Nikkei stumbled 1% on a slightly firmer yen. China’s CSI300 skidded 0.6%, while Shanghai’s SSE Composite fell 0.8% and Hong Kong’s Hang Seng index declined more than 1%. (Reuters)
12.38 pm IST Dhabriya Polywood shares up as unit gets new orderDhabriya Polywood Ltd said its unit Polywood Green Building Systems Pvt. Ltd has received order worth Rs1.75 crore from Emaar MGF land Ltd for supply and installation of PVC door and windows. Shares rose 2.49% to Rs133.90.
12.35 pm IST Steel Strips Wheel shares rise on new orderSteel Strips Wheel Ltd said it has received a fresh export order to supply nearly 2,000 truck wheels in next two months. Shares rose 0.97% to Rs1027.95.
12.33 pm IST Videocon Industries gets IRDA nod to sell stake in insurance unitVideocon Industries Ltd said IRDA has approved the company’s proposed sale of 51.32% stake in Liberty Videocon General Insurance Co. Ltd to Diamond Deal Trade Ltd and Enam Securities Pvt. Ltd. Shares declined 3.58% to Rs14.80.
12.30 pm IST Dilip Buildcon shares gain on receipt of new orderDilip Buildcon Ltd said the company has been declared L1 bidder for a new hybrid annuity project valued at Rs2013 crore by the National Highways Authority of India in Andhra Pradesh. Shares traded 0.64% up at Rs946.20.
11.50 am IST Market updateBSE Sensex traded lower by 159.26 points, or 0.46%, to 34,187.13, while the Nifty 50 fell 54.10 points, or 0.51%, to 10,500.20. Fifteen out of nineteen sectoral indices on BSE traded lower led by bankex, which was down 1.14%, metal 0.84% and finance 0.77%. IT, healthcare, realty and teck rose 0.54%, 0.36%, 0.37% and 0.34%, respectively.
11.47 am IST February factory growth slows to 4-month low: PMIGrowth in factory activity slowed to a four-month low in February as new orders eased and weighed on output after manufacturers raised prices at the fastest pace in a year, a business survey showed on Wednesday. The Nikkei Manufacturing Purchasing Managers’ Index (PMI), compiled by IHS Markit, fell to 52.1 in February from January’s 52.4 and was below the 52.8 expected in a Reuters poll. But it held above the 50 mark that separates growth from contraction for the seventh consecutive month.
11.13 am IST India to grow 7.6% in calendar year 2018: Moody’sMoody’s Investors Service Wednesday estimated that India will grow 7.6% in calendar year 2018 and 7.5% in 2019, amid signs of economic recovery from impact of demonetisation and goods and services tax (GST).
India to grow 7.6% in calendar year 2018: Moody"s https://t.co/6QXnR5b811
— Livemint (@livemint) February 28, 2018
11.10 am IST DLF shares rise as unit wins bid for landDLF Ltd shares were up 1.5% at Rs225 after the company said its subsidiary emerged as the highest bidder for 11.76-acre Gurugram land at Rs1,500 crore.
11.07 am IST Binani Industries shares gain 5%Binani Industries Ltd shares rose 5% to Rs117.45 after Bloomberg reported that Bain Capital is poised to win the bidding for India’s Binani Cement Ltd.
10.25 am IST Market updateBSE Sensex traded lower by 162.37 points, or 0.47%, to 34,184.02, while the Nifty 50 fell 61.20 points, or 0.58%, to 10,493.10. BSE MidCap was down 0.40%, while SmallCap declined 0.29%. Among the sectoral indices on BSE, healthcare, IT, Teck and realty traded higher, whereas metal, bankex, finance and capital goods shed most.
10.23 am IST Moody’s upgrades IDBI Bank outlook to positiveIDBI Bank Ltd shares traded 1.22% lower at Rs72.65. Moody’s Investors Service on Tuesday affirmed the long-term local and foreign currency bank deposit rating of IDBI Bank Ltd at B1 and changed the outlook to positive from stable.
10.20 am IST Dalmia Bhart wins bid for Binani CementDalmia Bharat Cement Ltd on Tuesday emerged the winner for troubled Binani Cement Ltd, beating India’s largest cement maker UltraTech Cement Ltd which had put in a nearly identical bid. Shares traded 0.57% down at Rs2,665.
9.40 am IST Banking stocks extend lossesBanking stocks fell. State Bank of India fell 2%, Yes Bank 1.8%, ICICI Bank 1.2%, Punjab National Bank 4.3%, Axis Bank 1.3%, Federal Bank 1.3%, Bank of Baroda 1.2%, HDFC Bank 0.7%, IDBI Bank 7%.
9.37 am IST Cipla shares gain following Roche Pharma tie upCipla Ltd shares rose 1% to Rs593 after the company said it has partnered with Roche Pharma India to create greater access to key medicines.
9.35 am IST PNB shares fall over 5%Punhab National Bank shares declined 5.13% to Rs93.30 a day after the bank said the alleged fraud committed by jewellers Nirav Modi and Mehul Choksi may be around $2 billion, over $204 million more than previously estimated. On Tuesday, PNB shares closed 12.11% lower at Rs98.35. During the day, it tumbled 14.11% to Rs96.10—its 52-week low.
9.33 am IST PNB fraud effect: Fear over public sector banksPublic sector banks will now have to look back on every loan default above Rs50 crore and check whether the defaulter was genuinely stressed or just fooling them.
PNB fraud effect: Fear over public sector banks.
What will the renewed spotlight on frauds, and the framework to find and fix them do?@aparnaviyer02 explains in detail: https://t.co/GUSIpSHABw
— Mint Mark to Market (@livemint_m2m) February 28, 2018
9.30 am IST Rupee hits three-month low against US dollarThe Indian rupee and other Asian currencies have weakened against the US dollar following hawkish comments from US Federal Reserve chair Jerome Powell. The rupee weakened past 65-mark to hit a three-month low. It opened at 65.10 and touched a low of 65.14 a dollar, a level last seen on 16 November 2017. The rupee was trading at 65.10, down 0.35% from its previous close of 64.80. Yields on 10-year government bonds were at 7.69% compared to Tuesday’s close of 7.67%
9.28 am IST Market updateBSE Sensex traded lower by 259.44 points, or 0.76%, to 34,086.95, while the Nifty 50 fell 81.75 points, or 0.77%, to 10,472.55.

First Published: Wed, Feb 28 2018. 09 29 AM IST