The market has ended lower. The Sensex was down
189.04 points or 0.7 percent at 27878.27 and the Nifty closed 41.25 points or
0.5 percent at 8477.30. About 1447 shares have advanced, 1423 shares declined,
and 144 shares are unchanged. Bank of Baroda (up 15 percent) was top Nifty
gainer while Tata Steel, SBI, GAIL, Coal India and Wipro were top gainers in
the Sensex. Among the losers were Cipla, Hindalco, ONGC, Hero Moto and Vedanta.
RUPEE
The rupee has hit 2-year low and is trading 21 paise lower at 65.21 against the US dollar on sustained bouts of dollar demand from importers amid weakness in equities.
STOCK TREND
Cipla, Hindalco and ONGC shed 2-4% each to emerge as the key losers during the day. RIL and ONGC, with losses of around 2% each, also dragged the indices lower. On the other hand, Tata Steel, SBI and Gail were among the key heavyweight gainers on the BSE.
On the sectoral front, the oil sector was the top sectoral loser on the BSE, while the banking and metal space bucked the weak trend.
In the oil space, Reliance shed nearly 2% on a further decline in the crude price as a global glut of crude supplies showed no signs of abating in the face of sluggish demand. ONGC declined by 2% to hit 52-week lows after the company reported net profit of Rs 5,460 crore for the quarter ended June 30, 2015 (Q1) against an average analyst estimates of Rs 6,029 crore. PSU OMCs, including IOC, BPCL and HPCL, have surrendered their early gains and now trading lower by about 1% each. The OMC had risen this morning after a reduction in petrol and diesel prices with effect from 15 August 2015.
On the other hand, the PSU banks were buzzing in today's trades after the government announced a revamp plan for PSU banks. The government on Friday unveiled a seven-pronged revamp plan to help struggling state-run banks, including a Rs 20,000-crore capital infusion and hiring of private sector talent. SBI zoomed by 4% at Rs 279 to top the gainers list on the BSE on the back of the reform measure and the bank's decision to cut rates on deposits of certain maturities by 25-50 basis points. In the larger banking universe, Bank of Baroda surged by 15% at Rs 212, while Canara Bank, Bank of India, IDBI Bank, PNB, Allahabad Bank and Oriental Bank of Commerce rallied by upto 10% each.
Get real time advice for intraday stock cash tips , Share Market live , Intraday Trading Tips , Stock Trading tips and all market updates. For 2 Days Free Trial , Capitalstars Financial Research Pvt .Ltd T:+91-731-6790000,6669900
RUPEE
The rupee has hit 2-year low and is trading 21 paise lower at 65.21 against the US dollar on sustained bouts of dollar demand from importers amid weakness in equities.
STOCK TREND
Cipla, Hindalco and ONGC shed 2-4% each to emerge as the key losers during the day. RIL and ONGC, with losses of around 2% each, also dragged the indices lower. On the other hand, Tata Steel, SBI and Gail were among the key heavyweight gainers on the BSE.
On the sectoral front, the oil sector was the top sectoral loser on the BSE, while the banking and metal space bucked the weak trend.
In the oil space, Reliance shed nearly 2% on a further decline in the crude price as a global glut of crude supplies showed no signs of abating in the face of sluggish demand. ONGC declined by 2% to hit 52-week lows after the company reported net profit of Rs 5,460 crore for the quarter ended June 30, 2015 (Q1) against an average analyst estimates of Rs 6,029 crore. PSU OMCs, including IOC, BPCL and HPCL, have surrendered their early gains and now trading lower by about 1% each. The OMC had risen this morning after a reduction in petrol and diesel prices with effect from 15 August 2015.
On the other hand, the PSU banks were buzzing in today's trades after the government announced a revamp plan for PSU banks. The government on Friday unveiled a seven-pronged revamp plan to help struggling state-run banks, including a Rs 20,000-crore capital infusion and hiring of private sector talent. SBI zoomed by 4% at Rs 279 to top the gainers list on the BSE on the back of the reform measure and the bank's decision to cut rates on deposits of certain maturities by 25-50 basis points. In the larger banking universe, Bank of Baroda surged by 15% at Rs 212, while Canara Bank, Bank of India, IDBI Bank, PNB, Allahabad Bank and Oriental Bank of Commerce rallied by upto 10% each.
Get real time advice for intraday stock cash tips , Share Market live , Intraday Trading Tips , Stock Trading tips and all market updates. For 2 Days Free Trial , Capitalstars Financial Research Pvt .Ltd T:+91-731-6790000,6669900
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