Market Live: Nifty breaks 10,500; SBI lifts PSU Bank over 3%, metals lose shine. Asian stocks traded lower after US President Donald Trump's dissatisifed with the latest round of trade talks with China.
Asian stocks traded lower after US President Donald Trump's dissatisifed with the latest round of trade talks with China.
Market Update: The market remained mildly under pressure, with the Nifty falling below the 10,500 levels following weakness in global stocks.
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Metals, oil stocks and HDFC twins pulled the market lower, but SBI, ICICI Bank, Tata Motors and technology stocks capped losses.
The 30-share BSE Sensex declined 66.52 points to 34,584.72 and the 50-share NSE Nifty slipped 38 points to 10,498.70 while the Nifty Midcap index outperformed frontliners, trading flat.
About three shares advanced for every two shares falling on the BSE.
Crude Update: Oil prices traded lower on hopes that OPEC may raise supplies as early as June, but geopolitical risks remained.
Brent crude futures, the international benchmark for oil prices, dipped 0.63 percent to $79.07 a barrel. In last week, it hit $80.50 a barrel, the highest since November 2014.
US West Texas Intermediate (WTI) crude futures fell 0.39 percent to $71.92 a barrel.
Rupee Update: The rupee recovered a bit from opening lows, falling 12 paise to 68.16 against the US dollar.
It declined 25 paise to hit a fresh 16-month low of 68.29 per dollar in opening trade ahead of the minutes of US Federal Reserve's last policy meet scheduled to be released later in the day.
The greenback strengthened against most global currencies as investors await hints on the pace of further US monetary tightening amid sustained capital outflows, forex dealers said.
Weakness in the domestic stock market and demand for the US currency from importers also weighed on the rupee, they added.
Yesterday, the rupee had gained 8 paise to close at 68.04 against the US dollar on fresh selling of the American currency by banks and exporters.
Fuel at Record High: Petrol & diesel prices reached to new record highs after further increase in prices by oil retailers HPCL, BPCL and IOC.
Petrol price increased by 29 paise to Rs 84.99 per litre and diesel price by 28 paise to Rs 72.76 per litre in Mumbai.
Brent crude futures, the international benchmark for oil prices, traded above $79 per barrel.
Benchmark indices started off trade on a flat note on Wednesday despite weakness in Asian peers.
The 30-share BSE Sensex declined 24.59 points to 34,626.65 and the 50-share NSE Nifty slipped 15.70 points to 10,521.
Tata Motors, HCL Technologies, SBI, TCS, Infosys, Indiabulls Housing Finance and Tech Mahindra are early gainers.
About three shares advanced for every two shares falling on the BSE.
Crude Update: Oil prices traded lower on hopes that OPEC may raise supplies as early as June, but geopolitical risks remained.
Brent crude futures, the international benchmark for oil prices, dipped 0.63 percent to $79.07 a barrel. In last week, it hit $80.50 a barrel, the highest since November 2014.
US West Texas Intermediate (WTI) crude futures fell 0.39 percent to $71.92 a barrel.
Rupee Update: The rupee recovered a bit from opening lows, falling 12 paise to 68.16 against the US dollar.
It declined 25 paise to hit a fresh 16-month low of 68.29 per dollar in opening trade ahead of the minutes of US Federal Reserve's last policy meet scheduled to be released later in the day.
The greenback strengthened against most global currencies as investors await hints on the pace of further US monetary tightening amid sustained capital outflows, forex dealers said.
Weakness in the domestic stock market and demand for the US currency from importers also weighed on the rupee, they added.
Yesterday, the rupee had gained 8 paise to close at 68.04 against the US dollar on fresh selling of the American currency by banks and exporters.
Fuel at Record High: Petrol & diesel prices reached to new record highs after further increase in prices by oil retailers HPCL, BPCL and IOC.
Petrol price increased by 29 paise to Rs 84.99 per litre and diesel price by 28 paise to Rs 72.76 per litre in Mumbai.
Brent crude futures, the international benchmark for oil prices, traded above $79 per barrel.
Benchmark indices started off trade on a flat note on Wednesday despite weakness in Asian peers.
The 30-share BSE Sensex declined 24.59 points to 34,626.65 and the 50-share NSE Nifty slipped 15.70 points to 10,521.
Tata Motors, HCL Technologies, SBI, TCS, Infosys, Indiabulls Housing Finance and Tech Mahindra are early gainers.
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Vedanta declined 4 percent. IOC, HPCL and BPCL dropped over a percent.
Nifty Midcap index was down 19 points.
Andhra Bank declined 3 percent.
Care, Minda Industries, L&T Technology, Gravita, Music Broadcast, PC Jeweller, Ashok Leyland, Bharat Forge and Muthoot Finance gained up to 5 percent.
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