Market Live: Nifty consolidates ahead of F&O expiry; weak rupee lifts IT stocks. Asian shares traded mixed amid trade concerns.
Market Update: The market continued to consolidate ahead of the expiry of June futures & options contracts on Thursday.
The 30-share BSE Sensex fell 6.35 points to 35,483.69 and the 50-share NSE Nifty declined 19.90 points to 10,749.30.
The 30-share BSE Sensex fell 6.35 points to 35,483.69 and the 50-share NSE Nifty declined 19.90 points to 10,749.30.
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The Nifty Midcap index extends losses, falling 0.8 percent on weak market breadth. More than two shares declined for every share rising on the BSE.
Oil retailers IOC, HPCL and BPCL dropped 5 percent each after Brent crude futures traded above $76 a barrel.
ICICI Bank, ITC, L&T, SBI and Axis Bank slipped 1-2 percent while HDFC Bank, TCS, HDFC, HUL and Infosys gained 0.6-1.6 percent.
Oil retailers IOC, HPCL and BPCL dropped 5 percent each after Brent crude futures traded above $76 a barrel.
ICICI Bank, ITC, L&T, SBI and Axis Bank slipped 1-2 percent while HDFC Bank, TCS, HDFC, HUL and Infosys gained 0.6-1.6 percent.
Crude Update: Oil prices rose today, pushed up by supply disruptions in Libya and Canada and after US officials said all countries should stop Iranian crude imports from November.
Brent crude futures were at $76.65 per barrel, up 0.45 percent, from their last close.
US West Texas Intermediate (WTI) crude futures were at $70.78 a barrel, up 0.35 percent.
The United States has told countries to cut imports of Iranian oil to zero from November, a senior State Department official said on Tuesday, reports Reuters.
Rupee Update: The rupee recovered some opening losses to trade 22 paise lower at 68.47 against the dollar.
It plunged by 30 paise to hit a 19-month low of 68.54 against the dollar in opening trade on strong month-end dollar demand from importers and banks amid sustained foreign capital outflows.
This is the rupee's lowest level against the greenback since November 29, 2016.
The dollar's strength against some currencies overseas weighed on the local unit but a higher opening of the domestic equity markets capped the losses, traders said.
Foreign portfolio investors (FPIs) sold shares worth Rs 538.40 crore yesterday, as per provisional data issued by the stock exchanges.
Yesterday, the rupee lost 11 paise to end at 68.24 against the US currency.
Market Opening: Benchmark indices traded flat in the opening on Wednesday despite weakness in Asian stocks due to trade tensions.
The Sensex rose 37.63 points to 35,527.67 while the Nifty fell 0.90 points to 10,768.30.
Bharti Infratel, Zee Entertainment, NTPC, UltraTech Cement, Dr. Reddy's Labs, Reliance Industries and HDFC Bank are under pressure.
Aurobindo, Sun Pharma, M&M, Tata Motors, HCL Technologies, Infosys, Yes Bank, Titan Company, Kotak Mahindra Bank and Tech Mahindra are early gainers.
Nifty Midcap and Bank indices are flat.
IndusInd Bank hit the fresh record high, up 0.24 percent.
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Brent crude futures were at $76.65 per barrel, up 0.45 percent, from their last close.
US West Texas Intermediate (WTI) crude futures were at $70.78 a barrel, up 0.35 percent.
The United States has told countries to cut imports of Iranian oil to zero from November, a senior State Department official said on Tuesday, reports Reuters.
Rupee Update: The rupee recovered some opening losses to trade 22 paise lower at 68.47 against the dollar.
It plunged by 30 paise to hit a 19-month low of 68.54 against the dollar in opening trade on strong month-end dollar demand from importers and banks amid sustained foreign capital outflows.
This is the rupee's lowest level against the greenback since November 29, 2016.
The dollar's strength against some currencies overseas weighed on the local unit but a higher opening of the domestic equity markets capped the losses, traders said.
Foreign portfolio investors (FPIs) sold shares worth Rs 538.40 crore yesterday, as per provisional data issued by the stock exchanges.
Yesterday, the rupee lost 11 paise to end at 68.24 against the US currency.
Market Opening: Benchmark indices traded flat in the opening on Wednesday despite weakness in Asian stocks due to trade tensions.
The Sensex rose 37.63 points to 35,527.67 while the Nifty fell 0.90 points to 10,768.30.
Bharti Infratel, Zee Entertainment, NTPC, UltraTech Cement, Dr. Reddy's Labs, Reliance Industries and HDFC Bank are under pressure.
Aurobindo, Sun Pharma, M&M, Tata Motors, HCL Technologies, Infosys, Yes Bank, Titan Company, Kotak Mahindra Bank and Tech Mahindra are early gainers.
Nifty Midcap and Bank indices are flat.
IndusInd Bank hit the fresh record high, up 0.24 percent.
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Bata India, Godrej Consumer, Hexaware and Jubilant Foodworks also hit the new high.
Future Retail, Majesco, and Mphasis gained.
Fortis Healthcare, IDBI Bank, Adani Enterprises and Ashok Leyland fell 0.5-3 percent.
Rupee Opening: The Indian rupee opened sharply lower at 68.43 against the dollar on Wednesday on demand for the American currency from exporters.
It traded at 68.49, down 25 paise or 0.37 percent from the previous close.
Future Retail, Majesco, and Mphasis gained.
Fortis Healthcare, IDBI Bank, Adani Enterprises and Ashok Leyland fell 0.5-3 percent.
Rupee Opening: The Indian rupee opened sharply lower at 68.43 against the dollar on Wednesday on demand for the American currency from exporters.
It traded at 68.49, down 25 paise or 0.37 percent from the previous close.
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