Market updates: The Nifty Bank index fell as much as 3.12% during the session
Domestic stock markets fell on Monday with the BSE S&P Sensex index falling more than 400 points, amid weakness in Asian peers. The broader NSE Nifty benchmark fell as much as 121.6 points to touch 11,390.80 during the session. The Sensex fell 421.48 points to hit 38,401.09 at the weakest level of the session. Losses in banking, metal and pharma stocks dragged the markets lower however buying in IT and consumer goods shares helped the markets trim some of the losses by the end of the session. The NSE's Bank Nifty sectoral index - comprising shares of 12 major banks - fell as much as 3.12 per cent, dragged lower by private sector lenders Yes Bank and IndusInd Bank.
Here are the highlights of hte movement in the domestic share markets (Sensex and Nifty) on September 30:
Yes Bank Ends Over 14% Lower
Twenty eight stocks on the Nifty ended lower, with Yes Bank, IndusInd Bank and SBI declining 14.36 per cent, 6.13 per cent and 3.63 per cent respectively.
Market breadth remained sharply negative with an advance-decline ratio of 1:2. On the BSE, 788 stocks ended higher whereas 1,705 moved lower and 157 closed on a flat note. On the National Stock Exchange, 499 stocks advanced and 1,311 declined, while 329 remained unchanged.
Sensex Ends 155 Points Lower, Nifty Settles At 11,477
The S&P BSE Sensex ended 155.24 points - or 0.40 per cent - lower at 38,667.33 and the broader NSE Nifty benchmark settled at 11,477.25, down 35.15 points - or 0.31 per cent - from its previous close. Nine of the 11 sectoral gauges on the NSE ended the session lower, with the banking shares worst hit.
Yes Bank, IndusInd Bank, SBI Top Nifty Losers
Twenty seven stocks on the 50-scrip benchmark index struggled with losses. Top percentage laggards were Yes Bank, IndusInd Bank and SBI - down between 3.68 per cent and 14.97 per cent. On the other hand, Bharti Airtel, UPL and HCL Tech were the top gainers on the index.
IT, Telecom Stocks Jump; Financial Stocks Worst Hit
Seven out of the 19 sectoral indices on the Bombay Stock Exchange traded higher in late afternoon deals, led by telecom and IT shares.
|S&P BSE Telecom||4.18%|
|S&P BSE Teck||2.53%|
|S&P BSE Information Technology||2.38%|
|S&P BSE Energy||1.2%|
|S&P BSE Oil & Gas||0.56%|
|S&P BSE Fast Moving Consumer Goods||0.35%|
|S&P BSE Capital Goods||0.02%|
|S&P BSE Utilities||-0.04%|
|S&P BSE Power||-0.17%|
|S&P BSE Industrials||-0.27%|
|S&P BSE Metal||-0.5%|
|S&P BSE Consumer Discretionary Goods & Services||-0.7%|
|S&P BSE Auto||-0.71%|
|S&P BSE Basic Materials||-0.81%|
|S&P BSE Consumer Durables||-1.07%|
|S&P BSE Healthcare||-1.49%|
|S&P BSE Realty||-1.61%|
|S&P BSE Finance||-2.37%|
|S&P BSE Bankex||-2.56%|IT Stocks Buck Trend, Lead Partial Recovery In Markets
IT stocks jumped led by HCL Tech, Infosys and TCS which jumped as much as 5.33 per cent, 3.30 per cent and 2.23 per cent respectively.
The Nifty IT sectoral index jumped as much as 2.16 per cent in late afternoon deals. The S&P BSE Information Technology index climbed as much as 2.49 per cent during the session.
Sensex Down Nearly 200 Points, Nifty Above 11,450
At 3:13 pm, the Sensex traded down 197.87 points - or 0.51 per cent - at 38,624.70 while the Nifty was at 11,471.60 - down 40.80 points from its previous close - as the markets recovered some of the losses. Buying in IT and energy stocks picked up providing some support to the markets.
IRCTC IPO Subscribed 30%
The IPO of Indian Railway Catering and Tourism Corporation (IRCTC) was subscribed 30.18 per cent by 12:45 pm, data from the NSE showed. Bids for 60.84 lakh shares were received as against out of the total 2.02 crore shares on offer. The IRCTC IPO will close on October 3. (Here's all you need to know about the IRCTC IPO
Sensex Plunges More Than 400 Points, Nifty Breaks 11,400
The Sensex fell as much as 421.48 points to touch 38,401.09 on the downside, and the Nifty hit 11,390.80, down 121.6 points from its previous close, as the selloff in banking stocks deepened.
At 12:50 pm, the Sensex traded 347.32 points - or 0.89 per cent - lower at 38,475.25 while the Nifty was down 102.80 points - or 0.89 per cent - at 11,409.60.
Reliance Capital Repays Rs 72.65 Crore Debt; Shares Hit New Record Low
Reliance Capital shares fell over 13 per cent to hit a new all-time low after the company said it had made a payment of interest and principal amounting to Rs 72.65 crore. Reliance Capital also said that it is current on all its repayment obligations.
Reliance Capital shares have sharply underperformed the Sensex. Reliance Capital shares have so far this year nosedived 89 per cent compared with a nearly 7 per cent gain in the benchmark index.
Infosys, HCL Tech, TCS Top Gainers
Twelve stocks on the Nifty 50 benchmark index moved higher.
Top Nifty Gainers/Losers
Top Sensex Gainers/Losers
|Yes Bank||-11.48%|Yes Bank Shares Plunge 13%, Extend Losses To Fourth Straight Day
Yes Bank shares fell as much as 12.91 per cent to hit a new 52-week low of Rs 42.50 apiece on the BSE. At 10:59 am, the Yes Bank stock traded 11.58 per cent lower at Rs 43.15 apiece on the BSE, underperforming the benchmark Sensex index which was down 0.82 per cent. As of Friday's closing price, the stock has declined 12.93 per cent in three consecutive session.
Selloff Across Most Sectors Drags Markets Lower; IT Sector Bucks Trend
All but one sectoral indices on the National Stock Exchange traded lower, with information technology shares bucking the trend.
|Nifty PSU Bank||-2.70%|
|Nifty Private Bank||-2.51%|
|Nifty Financial Services||-1.56%|
|Nifty Fast-Moving Consumer Goods||-0.06%|
|Nifty IT||0.87%|Sensex Down Over 300 Points, Nifty Near 11,400; Banking Stocks Worst Hit
At 10:33 am, the BSE S&P Sensex index traded down 326.52 points - or 0.84 per cent - at 38,496.05 while the broader NSE Nifty benchmark was down 96.05 points - or 0.83 per cent - at 11,416.35. ICICI Bank, HDFC and HDFC Bank account for a loss of more than 200 points on the Sensex.
|Stock||Contribution To Sensex|
|ICICI Bank||-101.93 points|
|HDFC Bank||-58.91 points|
|IndusInd Bank||-53.35 points|
|SBI||-28.24 points|Sensex Down Over 40 Points, Nifty Below 11,500
At 9:20 am, the Sensex traded 44.38 points - or 0.11 per cent - lower at 38,778.19 while the Nifty was at 11,481.05, down 31.35 points - or 0.27 per cent - from its previous close.
Top percentage losers on the 50-scrip index at the time were Yes Bank, Cipla, JSW Steel, Vedanta and Asian Paints, trading between 1.86 per cent and 2.87 per cent lower. ICICI Bank, HDFC Bank, HDFC and Kotak Bank weighed the most on Sensex.
Sensex, Nifty Start Session On A Mixed Note
The S&P BSE Sensex index opened 50.55 points higher at 38,873.12 whereas the broader NSE Nifty benchmark started the session at 11,491.15, down 21.25 points from its previous close.
Sensex, Nifty Mixed In Pre-Open Market
The S&P BSE Sensex rose to as much as 38,910.4 in the pre-opening session, up 87.83 points - or 0.23 per cent - from the previous close. At 9:11 am, the Sensex was up 50.55 points - or 0.13 per cent - at 38,873.12 while the Nifty was at 11,491.15, up 21.25 points - or 0.18 per cent - from the previous close.
IRCTC or Indian Railway Catering and Tourism Corporation's initial public offer (IPO) to raise up to Rs. 645 crore will open today. The last date for bidding under the IPO of IRCTC - the online ticketing arm of Indian Railways - is October 3.
Brokerage Angel Broking has assigned a "subscribe" rating to the IRCTC IPO. Recent tax reduction by the government to 25.2% and the increase in revenue from service charge for online ticketing will improve IRCTC's profitability substantially going forward, Angel Broking said in a note.
Asian Shares Trade On Cautious Note
Equities in other Asian markets were off to a cautious start on Monday with MSCI's broadest index of Asia-Pacific shares outside Japan slipping 0.11 per cent and Japan's Nikkei down 0.61 per cent.
Investors looked to how Chinese financial markets will react to the news the US administration is considering delisting Chinese companies from US stock exchanges.
SGX Nifty Futures Indicate Flat Opening For Domestic Markets
Domestic stock markets are likely to open on a flat note. At 8:34 am, the Singapore Exchange (SGX) Nifty futures were down 6.00 points - or 0.05 per cent - at 11,579.00. The SGX Nifty futures trading are an early indicator of the National Stock Exchange (NSE) Nifty index in India.