Closing Bell: Nifty ends below 10,700 amid global weakness; HCL Tech loses Rs 11,000 cr in market cap. Benchmark indices were marginally higher in pre-opening trade despite weakness in Asian stocks.
Benchmark indices were marginally higher in pre-opening trade despite weakness in Asian stocks.
Market Closing: Benchmark indices closed lower following global weakness amid US-China trade talks, with the Nifty settling trade below 10,700 levels.
Market Closing: Benchmark indices closed lower following global weakness amid US-China trade talks, with the Nifty settling trade below 10,700 levels.
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The 30-share BSE Sensex was down 73.28 points at 35,103.14 and the 50-share NSE Nifty fell 38.30 points to 10,679.70. More than two shares declined for every share rising on the BSE.
Jet Airways, SpiceJet, InterGlobe Aviation, Radico Khaitan, Emami, United Spirits, United Breweries, MRF, Apollo Tyres, Ceat, JK Tyre, Cera Sanitaryware, Bharat Forge, Biocon, Venkys, Dabur India, Idea Cellular, Just Dial, NIIT Technologies Cadila Healthcare, Gati, Havells and Can Fin Homes fell up to 11 percent.
PC Jeweller rebounded 11 percent after sharp fall in morning. Kwality was up 10 percent and Manappuram Finance gained 4 percent.
Gold Update: Gold prices rose for a second session after the US Federal Reserve held interest rates steady as expected at the end of a two-day policy meeting, while investors awaited US-China trade talks.
US gold futures for June delivery rose 0.4 percent to USD 1,310.60 per ounce.
"The inflation numbers this week did point to a potential acceleration in those (interest) rate hikes... But after the FOMC meeting yesterday that appears to be less likely and so we're seeing assets such as gold being bought at the back of that," said ANZ analyst Daniel Hynes. Reports Reuters.
Europe Update: European equities traded lower as investors closely monitored trade talks between the US and China and digested new earnings reports. France's CAC and Germany's DAX were down 0.2 percent each at time of writing this article.
IPO: John Energy, backed by ace investor Rakesh Jhunjhunwala, has received markets regulator Sebi's go-ahead to raise an estimated Rs 350 crore through an initial public offering.
The company had filed draft papers with Securities and Exchange Board of India (Sebi) in February and obtained its "observations" on August 27, as per the latest update with the regulator.
Sebi's observations are necessary for any company planning to launch public issue like initial public offer (IPO) and follow-on public offer (FPO).
Going by the draft papers, John Energy's IPO comprises fresh issuance of shares worth Rs 218 crore and an offer for sale of up to 16,77,744 scrips by the existing shareholders, including IL&FS Financial Services and India Rig Company.
Proceeds of the issue will be utilised towards repayment of certain borrowings availed by the company and for other general corporate purposes, reports PTI.
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PC Jeweller rebounded 11 percent after sharp fall in morning. Kwality was up 10 percent and Manappuram Finance gained 4 percent.
Gold Update: Gold prices rose for a second session after the US Federal Reserve held interest rates steady as expected at the end of a two-day policy meeting, while investors awaited US-China trade talks.
US gold futures for June delivery rose 0.4 percent to USD 1,310.60 per ounce.
"The inflation numbers this week did point to a potential acceleration in those (interest) rate hikes... But after the FOMC meeting yesterday that appears to be less likely and so we're seeing assets such as gold being bought at the back of that," said ANZ analyst Daniel Hynes. Reports Reuters.
Europe Update: European equities traded lower as investors closely monitored trade talks between the US and China and digested new earnings reports. France's CAC and Germany's DAX were down 0.2 percent each at time of writing this article.
IPO: John Energy, backed by ace investor Rakesh Jhunjhunwala, has received markets regulator Sebi's go-ahead to raise an estimated Rs 350 crore through an initial public offering.
The company had filed draft papers with Securities and Exchange Board of India (Sebi) in February and obtained its "observations" on August 27, as per the latest update with the regulator.
Sebi's observations are necessary for any company planning to launch public issue like initial public offer (IPO) and follow-on public offer (FPO).
Going by the draft papers, John Energy's IPO comprises fresh issuance of shares worth Rs 218 crore and an offer for sale of up to 16,77,744 scrips by the existing shareholders, including IL&FS Financial Services and India Rig Company.
Proceeds of the issue will be utilised towards repayment of certain borrowings availed by the company and for other general corporate purposes, reports PTI.
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Crude Update: Oil prices fell, pulled down by a rise in US crude inventories and record weekly US production, which is countering efforts by producer cartel OPEC to cut supplies and prop up prices.
US West Texas Intermediate (WTI) crude futures were down 0.13 percent, at USD 67.84 per barrel.
Brent crude oil futures were at USD 73.17 per barrel, down 0.26 percent, from their last close.
Prices were pulled down by a report from the US Energy Information Administration (EIA) on Wednesday showing US crude inventories jumped by 6.2 million barrels to 435.96 million barrels in the week to April 27, marking a 2018 high, reports Reuters.
US West Texas Intermediate (WTI) crude futures were down 0.13 percent, at USD 67.84 per barrel.
Brent crude oil futures were at USD 73.17 per barrel, down 0.26 percent, from their last close.
Prices were pulled down by a report from the US Energy Information Administration (EIA) on Wednesday showing US crude inventories jumped by 6.2 million barrels to 435.96 million barrels in the week to April 27, marking a 2018 high, reports Reuters.
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