Sensex Ends 362 Points Lower, Nifty Holds 11,350: Highlights

Market updates: A selloff across sectors led by banking stocks dragged the markets lower.

Sensex Ends 362 Points Lower, Nifty Holds 11,350: Highlights

BSE Sensex market updates: The Sensex dropped as much as 726.13 points to 37,941.20 during the session

Domestic stock markets suffered sharp losses on Tuesday amid volatile trade, with the S&P BSE Sensex falling more than 700 points. The broader NSE Nifty benchmark slumped as much as 226.55 points to hit 11,247.90 at the lowest level of the day. The Sensex dropped to as much as 37,941.20 during the session, down 726.13 points from its previous close. A selloff across sectors led by banking stocks dragged the markets lower. The Nifty Bank - comprising shares of 12 major lenders in the country - fell 3.52 per cent during the session, with Yes Bank and SBI dropping as much as 29.95 per cent and 9.32 per cent respectively. Concerns about the health of the country's financial sector hurt market sentiment, say analysts.

Here are latest updates on the movement in domestic stock markets (Sensex and Nifty) today: 

Oct 01, 2019 17:27 (IST)
Selloff Across Sectors Pulls Markets Lower
All of the 11 sectoral indices on the National Stock Exchange ended lower, with the medial, realty and PSU bank sectors worst hit. 

Index Watch

Nifty Media-4.32%
Nifty Realty-4.12%
Nifty PSU Bank-3.78%
Nifty Metal-1.78%
Nifty IT-1.54%
Nifty Private Bank-1.37%
Nifty Bank-1.30%
Nifty Pharma-1.08%
Nifty Fast-Moving Consumer Goods-1.07%
Nifty Auto-0.39%
Nifty Financial Services-0.17%

Market breadth favoured losses with 726 stocks trading higher on the BSE, 983 moving lower and 97 flat. On the National Stock Exchange, 612 stocks advanced, 1,002 declined whereas 491 remained unchanged.

Oct 01, 2019 17:22 (IST)
Sensex Ends 362 Points Lower, Nifty Holds 11,350
The Sensex ended 361.92 points - or 0.94 per cent - lower at 38,305.41 and the Nifty settled at 11,359.90, down 114.55  points - or 1.00 per cent - from its previous close. Top percentage laggards on the 50-scrip benchmark index were Yes Bank, Zee Entertainment, IndusInd Bank, SBI and Grasim, ending between 5.01  per cent and 22.22 per cent lower. 
Oct 01, 2019 14:15 (IST)
Market Update: Sensex Drops Over 700 Points, Nifty Breaks 10,300
The domestic equity benchmarks extended losses owing to selling pressure in banking shares. The Sensex fell as much as 726 points and the Nifty 50 index slumped 213 points to 11,261.

43 out of 50 shares in the Nifty 50 basket were trading lower and all the sector gauges compiled by NSE were quoting in the red with the Nifty PSU Bank index dropping as over 5 per cent dragged by weakness in State bank of India.

Top Nifty losers:

  • Yes Bank down 22%
  • Zee Entertainment down 9.87%
  • IndusInd bank down 8.92%
  • State Bank of India down 7.13%
  • Grasim Industries down 5%

Oct 01, 2019 14:03 (IST)
State Bank of India Drops 5%, Falls To Lowest Level In Over 7 Months
Shares of State Bank of India fell as much as 5.92 per cent to trade below Rs 260 mark for the first time since February 19.

SBI shares witnessed more than usual trading volumes as 24.24 lakh shares changed hands on the BSE compared with an average of 23.05 lakh shares traded daily in the past two weeks.

Oct 01, 2019 13:35 (IST)
Market Update: Sensex, Nifty Erase Gains; Yes Bank Slumps 20%
The S&P BSE Sensex and NSE Nifty 50 indexes erased gains owing to weakness in Tata Consultancy Services, IndusInd Bank, Infosys, State Bank of India, Reliance Industries and Bharti Airtel.

As of 1:31 pm, the Sensex traded 152 points to 38,515 and the NSE Nifty 50 index fell 38 points to 11,432.

Nine of 11 sector gauges compiled by were trading lower led by the Nifty PSU Bank index's 2.8 per cent decline.
Oct 01, 2019 13:11 (IST)
Eicher Motors Near Day's High After Report VE Commercial Vehicle Sales Numbers
Shares of Eicher Motors were trading 1.54 per cent higher at Rs 18,050 after it reported commercial vehicle sales for the month of September.

Key September sales highlights:
  • Total truck and buses sales down 45% at 3,140 units
  • Total exports down 43.2% at 3,784 units
Oct 01, 2019 13:06 (IST)
Mahindra & Mahindra Gains After Reporting September Sales Numbers
Shares of Mahindra & Mahindra rose as much as 3.46 per cent to Rs 566 after it reported sales for the month of September.

Key September sales highlights:

  • Mahindra & Mahindra passenger vehicle sales down 33% at 14,333 units
  • Commercial vehicle sales down 17.65% at 18,872 units
  • Medium and heavy commercial vehicle sales down 85% at 408 units
  • Farm equipment sales rise 0.26% to 36,046 units
Oct 01, 2019 12:29 (IST)
Yes Bank Slumps For Fifth Straight Day To Lowest Level In Over A Decade
Shares of the Mumbai-based private sector lender - Yes Bank - fell as much as 9.23 per cent intraday to hit fresh 10-year low of Rs 37.60.

With today's fall Yes Bank shares slumped for a fifth day in a rown and in the course of last five sessions, the stock has collapsed 33 per cent.
Oct 01, 2019 12:13 (IST)
IRCTC Initial Public Offer Oversubscribed On Day 2
By noon, bids for 2.75 crore shares were received out of the total 2.02 crore shares on offer under the IRCTC IPO, data from the National Stock Exchange showed. That marked a subscription of ‭136.39  per cent. IRCTC has set an issue price of Rs. 315-Rs. 320 for the IPO. (Read more on IRCTC IPO here)
Oct 01, 2019 11:05 (IST)
HDFC, HDFC Bank, ICICI Bank Contribute Most To Sensex Gains
HDFC, HDFC Bank and ICICI Bank contributed more than 150 points to the Sensex. 
StockContribution To Sensex (In Points)
HDFC Bank+72.7
ICICI Bank+27.74
Hindustan Unilever+19.81
Reliance Industries+15.08
Maruti Suzuki India+14.94
Axis Bank+14.85
Other prominent gainers included HUL and Reliance Industries.
Oct 01, 2019 11:01 (IST)
Sensex Rises Over 150 Points As Markets Turn Positive

The markets reversed direction once again with the Sensex rising more than 150 points in late morning deals.  At 10:57 am, the Sensex traded 163.00 points - or 0.42 per cent - higher at 38,830.33 and the Nifty was up 48.60  points - or 0.42 per cent - at 11,523.05.

Oct 01, 2019 10:23 (IST)
Market Breadth Negative; Realty, IT, Metal Sectors Worst Hit
Most sectoral indices on the National Stock Exchange slipped to the negative zone. 

Index Watch

Nifty Realty-1.39%
Nifty IT-1.35%
Nifty Metal-1.23%
Nifty PSU Bank-0.97%
Nifty Private Bank-0.53%
Nifty Bank-0.36%
Nifty Pharma-0.31%
Nifty Media-0.24%
Nifty Financial Services-0.01%
Nifty Auto+0.05%
Nifty Fast-Moving Consumer Goods+0.06%

Market breadth favoured losses with 726 stocks trading higher on the BSE, 983 moving lower and 97 flat. On the National Stock Exchange, 612 stocks advanced, 1,002 declined whereas 491 remained unchanged.

Oct 01, 2019 10:15 (IST)
IndusInd Bank, Bharti Airtel, Coal India Top Nifty Losers
At 10:07 am, the Sensex traded 208.48 points - or 0.54 per cent - lower at 38,458.85 while the Nifty was down 56.80 points - or 0.50 per cent - at 11,417.65.

Top Nifty Gainers/Losers

Bharat Petroleum+5.76%
Indian Oil+2.78%
Mahindra & Mahindra+1.02%
Sun Pharma+1.00%
Tata Steel-2.29%
Coal India-2.60%
Bharti Airtel-2.70%
IndusInd Bank-5.32%

Oct 01, 2019 10:09 (IST)
Sensex Plunges Over 400 Points From Day's High
The Sensex plunged as much as 420.56 points from the day's highest level to touch 38,503.22 on the downside, as the selloff in IT and metal stocks deepened and banking stocks reversed direction. The Nifty index fell as much as 125.5 points from an intraday high of 11,554.20 to hit 11,428.70 on the downside.
Oct 01, 2019 09:21 (IST)
Sensex Up Nearly 200 Points In Early Trade
At 9:19 am, the S&P BSE Sensex index traded 197.55 points - or 0.51 per cent - higher at 38,864.88 while the broader NSE Nifty benchmark was up 63.70 points - or 0.56 per cent - at 11,538.15. Top percentage gainers on the 50-scrip index at the time were Bharat Petroleum, Indian Oil, Yes Bank, Axis Bank and ICICI Bank, trading between 1.38 per cent and 7.65 per cent higher. 
Oct 01, 2019 09:19 (IST)
Sensex Opens 146 Points Higher, Nifty Starts Day Above 11,500
The S&P BSE Sensex index opened 146.15 points - or 0.38 per cent - higher at 38,813.48 while the broader NSE Nifty benchmark started the day at 11,515.40, up 40.95 points - or 0.36 per cent - from its previous close. 
The Sensex opened higher for a fourth session in a row. 
Oct 01, 2019 09:07 (IST)
Sensex Up Over 250 Points In Pre-Open Market
The S&P BSE Sensex rose as much as 270.12 points - or 0.70 per cent - to 38,937.45 in the pre-opening session. At 9:03 am, the Sensex was up 193.94 points - or 0.50 per cent - at 38,861.27, while the broader NSE Nifty benchmark was up  75.45 points - or 0.66 per cent - at 11,549.90. 
Oct 01, 2019 09:00 (IST)
RBI Seen Lowering Repo Rate Once Again
Some analysts say there is room for at least one more cut in the repo rate by the RBI. The upcoming meeting comes in the backdrop of the central bank's mandate to banks to link their loan products to an external benchmark - like the repo rate or the key rate at which it lends short-term funds to commercial banks - for faster transmission of reduction in policy rates to borrowers from October 1.
Oct 01, 2019 08:56 (IST)
RBI Begins Three-Day Policy Review Meeting Today
The Reserve Bank of India's Monetary Policy Committee will begin a three day meeting on Tuesday. This marks the fourth bi-monthly monetary policy statement for financial year 2019-20. A statement will be released at 11.45 am on October 4, 2019. 
The RBI has so far this year reduced the repo rate by 110 basis points (1.1 percentage point) in four consecutive bi-monthly reviews.

Oct 01, 2019 08:51 (IST)
Fiscal Deficit Narrows, 78.7% Of Full-Year Target
The country's fiscal deficit touched Rs. 5.54 lakh crore at the end of August, which was 78.7 per cent of the Budget Estimate for 2019-20, official data showed on Monday. In absolute terms, the fiscal deficit or the gap between expenditure and revenue was Rs. 5,53,840 crore as on August 31, according to the data released by the Controller General of Accounts (CGA).
Oct 01, 2019 08:50 (IST)
Infrastructure Output Contracts For First Time Since April 2015
India's infrastructure output contracted 0.5 per cent in August from a year earlier, government data showed on Monday. That marked the first contraction in infrastructure production since April 2015.
Infrastructure output, which comprises eight sectors such as coal, crude oil and electricity, accounts for nearly 40 per cent of the country's industrial output.
Oct 01, 2019 08:47 (IST)
Global Stocks Tick Up On US-China Trade Optimism
Equities in global markets ticked up as some investors clung to hopes that China and the US could work towards reaching a deal on trade and other issues in the fourth quarter. 
MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.11 per cent and Japan's Nikkei rose 0.6 per cent. Chinese markets will be shut for a week from Tuesday to mark 70 years since the founding of the People's Republic of China.

Oct 01, 2019 08:46 (IST)
SGX Nifty Indicates Positive Opening For Domestic Share Markets
At 8:40 am, the SGX Nifty futures were up 20.00 points - or 0.17 per cent - at 11,558.00. The Singapore Exchange's Nifty futures are an early indicator of the National Stock Exchange (NSE) Nifty in India. 

On Monday, the Sensex and Nifty had ended 0.40 per cent and 0.33 per cent lower respectively. 

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