Highlights

3.34 pm ISTClosing bell
2.30 pm ISTMarket update
2.27 pm ISTDilip Buildcon gets Rs936 crore NHAI project
2.25 pm ISTUnion Bank of India shares hit 11-year low
2.23 pm ISTTata Power appoints new CEO
2.20 pm ISTRupee trims losses, trades flat against US dollar
1.03 pm ISTMarket update
1 pm ISTMEP Infrastructure gets three NHAI projects
12.57 pm ISTVarun Beverages completes acquisition of PepsiCo franchised territories
12.53 pm ISTHAL issue priced at Rs1,215
11.57 am ISTMarket update
11.55 am ISTBitcoin slumps after Japan warns major cryptocurrency venue
11.50 am ISTBHEL signs technology transfer pact with ISRO
10.30 am ISTMarket update
10.27 am ISTBharat Dynamics shares fall 16% on stock market debut
10.25 am ISTTata Steel shares fall over 3% after successful Bhushan Steel bid
9.37 am ISTMarket update
9.35 am ISTUnion Bank of India shares fall on fraud case
9.33 am ISTBanking stocks trade lower
9.30 am ISTBeijing hits back at Trump, plans $3 bn reciprocal tariffs on US imports
9.28 am ISTRupee weakens against US dollar on global equity sell-off
9.27 pm ISTMarket update

BSE Sensex and NSE Nifty closed lower on Friday. Photo: Abhijit Bhatlekar/Mint

Mumbai: Markets plunged to a five-month low on Friday as jittery investors rushed to sell shares on heightened fears of a trade war after US President Donald Trump announced $50 billion in tariffs on Chinese imports. Moreover back home, banking stocks fell further after CBI filed two more fraud cases involving Union Bank of India and State Bank of India. BSE Sensex closed 410 points lower, while NSE’s Nifty 50 settled below the 10,000 mark, down 117 points. The Sensex has fallen 10% from the record highs it hit on 29 January. So far this year, the Sensex has slipped 3.08%. Here are the highlights from the markets:
3.34 pm IST Closing bellBSE Sensex closed lower by 409.73 points, or 1.24%, to 32,596.54, while the Nifty 50 declined 116.70 points, or 1.15%, to close at 9,998.05. Eighteen out of 19 sectoral indices on BSE ended lower with realty, bankex, basic materials and metal falling over 2%. On NSE, Nifty PSU Bank fell 3.64%.BSE MidCap and SmallCap were down 1.36% and 1.54%, respectively. Adani Ports, Infosys, Power Grid and Asian Paints were among the top gainers, whereas Yes Bank, Axis Bank, SBI and ICICI Bank were major losers.
2.30 pm IST Market updateBSE Sensex traded lower by 411.88 points, or 1.25%, to 32,594.39, while the Nifty 50 declined 123.25 points, or 1.22%, to 9,991.50.
2.27 pm IST Dilip Buildcon gets Rs936 crore NHAI projectDilip Buildcon Ltd has been declared L1 bidder for a new hybrid annuity project valued at Rs936 crore by the National Highways Authority of India in Telangana. Shares were up 0.16% to Rs984.30.
2.25 pm IST Union Bank of India shares hit 11-year lowUnion Bank of India on Friday hit 11-year low after the Central Bureau of Investigation (CBI) registered a Rs1,394.43-crore bank fraud case against Hyderabad-based Totem Infrastructure Ltd on a complaint by the state-run bank. The stock fell as much as 9.11% to hit a low of Rs86.05, a level last seen on 8 March 2007.
2.23 pm IST Tata Power appoints new CEOTata Power Co. Ltd said it has appointed Praveer Sinha as chief executive officer and managing director, effective 1 May, to oversee the next phase of expansion. Shares traded 0.56% down at Rs79.60.
2.20 pm IST Rupee trims losses, trades flat against US dollarThe Indian rupee on Friday pared all the morning losses and was trading little changed against US dollar post US President Donald Trump decided to slap tariffs on China. The home currency was trading at 65.09 a dollar, up 0.02% from its Thursday’s close of 65.11. The rupee opened at 65.18 a dollar and touched a high and a low of 65.09 and 65.20, respectively.Bond yield fell for the third session as traders await the April-September bond auction calendar by the first week of April. The 10-year bond yield was at 7.548% compared to its previous close of 7.558%. Bond yields and prices move in opposite directions.
1.03 pm IST Market updateBSE Sensex traded lower by 424.40 points, or 1.29%, to 32,581.87, while the Nifty 50 declined 132.60 points, or 1.31%, to 9,982.15. Among the sectoral indices on BSE, metal fell most at 3.52%, realty 3.25%, basic materials 2.90% and bankex 2.21%. On NSE, Nifty Bank was down 2.03% and Nifty PSU Bank fell 3.41%.
1 pm IST MEP Infrastructure gets three NHAI projectsMEP Infrastructure Developers Ltd in a joint venture with LongJian Road and Bridge Co. Ltd has emerged as a preferred bidder by National Highways Authority of India for the three hybrid annuity mode projects. Shares were down 0.77% to Rs77.
12.57 pm IST Varun Beverages completes acquisition of PepsiCo franchised territoriesVarun Beverages Ltd said it has concluded the acquisition of PepsiCo India’s previously franchised sub territory in Jharkhand along with one manufacturing unit at Jamshedpur. Varun Beverages shares were trading lower by 0.68% to Rs605.
12.53 pm IST HAL issue priced at Rs1,215Hindustan Aeronautics Ltd has priced its initial public offering at Rs1,215, the lower end of its price range of Rs1,215-1,240. The Rs4,229-crore IPO of was subscribed 99% on Tuesday, the last day of the share sale. (Reuters)
11.57 am IST Market updateBSE Sensex traded lower by 505.11 points, or 1.53%, to 32,501.16, while the Nifty 50 declined 153.10 points, or 1.51%, to 9,961.65.
11.55 am IST Bitcoin slumps after Japan warns major cryptocurrency venueBitcoin fell as much as 4.5% after Japan’s Financial Services Agency issued a warning to Binance for operating cryptocurrency exchange services with Japanese residents through the internet without a licence in the country, according to a statement on the agency’s website.
11.50 am IST BHEL signs technology transfer pact with ISROBharat Heavy Electricals Ltd said it has signed a technology transfer agreement with ISRO for manufacture of space grade lithium-ion cells. Shares traded 0.86% lower at Rs80.90.
10.30 am IST Market updateBSE Sensex traded lower by 407.74 points, or 1.24%, to 32,598.53, while the Nifty 50 declined 129.80 points, or 1.28%, to 9,984.95. All the sectoral indices on BSE traded lower with realty, metal, basic materials and bankex falling over 2%. BSE MidCap and SmallCap were down 1.70% and 1.86%, respectively.
10.27 am IST Bharat Dynamics shares fall 16% on stock market debutBharat Dynamics shares open 15.9% lower at Rs360 against the issue price of Rs428 on BSE on market debut after its IPO witnessed an overall subscription of 1.3 times.
10.25 am IST Tata Steel shares fall over 3% after successful Bhushan Steel bidTata Steel Ltd shares fell 3.3% to Rs561 after the company said it had been selected as the successful resolution applicant for buying debt-laden Bhushan Steel Ltd.
9.37 am IST Market updateBSE Sensex traded lower by 432.70 points, or 1.31%, to 32,573.57, while the Nifty 50 declined 142.35 points, or 1.41%, to 9,972.40.
9.35 am IST Union Bank of India shares fall on fraud caseUnion Bank of India shares fell 6% to Rs89.10 after CBI registered a Rs1,394.43 crore bank fraud case against Hyderabad-based Totem Infrastructure Ltd on a complaint by state-run Union Bank of India
9.33 am IST Banking stocks trade lowerOther banking stocks fell. ICICI Bank fell 2.8%, Yes Bank 2.6%, Axis Bank 2%, State Bank of India 2%, Kotak Mahindra Bank 1.5%, HDFC Bank 1%, Bank of Baroda 2.3%, Federal Bank 2% and Punjab National Bank 1.7%.
9.30 am IST Beijing hits back at Trump, plans $3 bn reciprocal tariffs on US importsBeside legal action at the WTO in response to US tariffs on China metal exports, Beijing plans $3 billion reciprocal tariffs on imports of US pork, recycled aluminium, steel pipes, fruit and wine.
US-China trade war: Beijing hits back at Trump, plans $3 bn reciprocal tariffs on US imports https://t.co/gek6fz7uy7
— Livemint (@livemint) March 23, 2018
9.28 am IST Rupee weakens against US dollar on global equity sell-offThe Indian rupee weakened against the US dollar as global equity markets slumped after US President Donald Trump decided to slap tariffs on China. The rupee opened at 65.18 a dollar. At 9.15am, the home currency was trading at 65.20 a dollar, down 0.15% from its Thursday’s close of 65.11.Bond yield fell for the third session as traders await the April-September bond auction calendar by the first week of April. The 10-year bond yield was at 7.526% compared to its previous close of 7.558%. Bond yields and prices move in opposite directions.
9.27 pm IST Market updateBSE Sensex traded lower by 325.03 points, or 0.98%, to 32,681.24, while the Nifty 50 declined 120.20 points, or 1.19%, to 9,994.55.