BSE Sensex Today: Sensex fell over 300 points and Nifty touched low of 11,507.The S-P BSE Sensex and NSE Nifty 50 indexes fell sharply in trade today on the back of a broad-based selloff.
The Sensex plunged as much as 398 points to 38,699 and the Nifty 50 index declined 110 points to hit intraday low of 11,478.
The losses in Indian markets were in line with weakness in other Asian peers which fell after the US lawmakers called for an impeachment inquiry into President Donald Trump, increasing the prospects of prolonged political uncertainty in the world's largest economy.
Back home, HDFC, HDFC Bank, Kotak Mahindra Bank, State Bank of India, Axis Bank, ICICI Bank.Maruti Suzuki Falls After Cutting Car Prices By Rs 5,000Shares of the country's largest carmaker Maruti Suzuki fell as much as 3.31 per cent to Rs 6,777 after it reduced prices of its select cars by Rs 5,000.Maruti Suzuki hascut ex-showroom priceof Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel, Ignis, Dzire Diesel, Tour S Diesel, Vitara Brezza and S-Cross by Rs 5,000."Maruti Suzuki India Limited, today announced to proactively and voluntarily share the benefits of corporate tax reduction with its customers," the company said in an exchange notification.Market Update: Sensex Extends Declines, Falls Over 350 PointsThe S-P BSE Sensex and NSE Nifty 50 indexes extended declines led by losses in HDFC, HDFC Bank, ICICI Bank, State Bank of India and Kotak Mahindra Bank.
The Sensex fell as much as 356 points to 38,729.26 and the NSE Nifty 50 index dropped 99 points to 11,489.55.As of 10:22 am, Sensex was down 351 points to 38,746 and Nifty was at 11,491, down 97 points.Top five Nifty 50 losers:State Bank of India down 4.00%Tata Motors down 3.63%Eicher Motors down 2.36%HDFC down 2.32%Maruti Suzuki down 2.28%Morepen Labs Falls After Sebi Bars It From Capital Markets For One YearShares of the Delhi-based drugmaker - Morepen Laboratories - fell as much as 17.24 per cent to Rs 18 after the market regulator Securities and Exchange Board of India (Sebi) banned the company from accessing the capital markets for one year for making misleading disclosure about the issuance of global depository receipts (GDRs).The company has clarified that there is no impact on the existing securities listed with the stock exchanges as well as no financial implications on the business operation of the company.Indiabulls Housing Finance Drops After CARE Revises Ratings On Debt InstrumentsShares of Indiabulls Housing Finance fell as much as 3.37 per cent to Rs 420 after CARE revised its ratings long-term rating of Indiabulls Housing Finance from 'CARE AAA' to 'CARE AA+', Perpetual Debt Programme from 'CARE AA+' to 'CARE AA', and reaffirmed short-term rating at 'CARE A1+', Indiabulls Housing Finance said in an exchange notification.The main reasons for revision in ratings are:Progress in process of merger with Lakshmi Vilas Bank and the potential transition challenges thereofChallenging funding environment for NBFCs and HFCsModeration in asset qualityKaveri Seed Company Surges After Board Approves Buyback ProposalShares of the Kaveri Seed Company rose as much as 5.18 per cent to Rs 575.80 after its board of directors approved share buyback proposal of Rs 196 crore.Kaveri Seed Company will buy back 28 lack equity shares (representing 4.44 per cent of the total number of equity shares in the paid-up equity share capital of the company) of face value of Rs 2 each at Rs 700 per equity share.The board of directors noted that the promoters of the company will also participate in the buyback process, according to its exchange filing.Banking Shares Worst Hit, IT Stocks OutperformAll sector gauges except the Nifty IT index were trading lower led by the Nifty PSU Bank Index's 2 per cent fall.
Nifty Bank, Nifty Private Bank, Nifty Metal, Nifty Financial Services and Nifty Auto indexes were also down between 0.9-1.4 per cent each.Top five losers in the Nifty Bank index:State Bank of India down 2.64%Bank of Baroda down 1.97%Kotak Mahindra Bank down 1.86%RBL Bank down 1.68%Axis Bank down 1.40%Sector WatchNIFTY BANK29,736.95-1.48%NIFTY AUTO7,658.15-1.48%NIFTY FIN SERVICE13,194.50-1.52%NIFTY FMCG31,071.75-0.77%NIFTY IT15,296.55-0.27%NIFTY MEDIA1,852.20-0.57%NIFTY METAL2,447.05-1.53%NIFTY PHARMA7,839.40-0.67%NIFTY PSU BANK2,467.65-2.19%NIFTY PVT BANK16,593.90-1.22%NIFTY REALTY267.85-0.5%Sensex Opens Over 200 Points Lower, Nifty Drops Below 11,550The S-P BSE Sensex and NSE Nifty 50 indexes opened lower in trade today weighed down by weakness in banking, auto, financial services, PSU banking and metal shares.
The Sensex fell as much as 212 points to 38,874.91 and the NSE Nifty 50 index dropped 61 points to 11,527.HDFC Bank, HDFC, State bank of India, ICICI Bank, Kotak Mahindra Bank and Infosys were among the biggest drags on the Sensex.Sensex, Nifty Subdued In Pre-Market SessionThe Sensex and Nifty opened on a subdued note in the pre-market session.The Sensex declined 9 points to 39,088 and Nifty 50 index slipped 23 points to 11,565.Oil Retailers In Focus After Crude Slumps Over 3%Shares oil retailers like Indian Oil, Bharat Petroleum and Hindustan Petroleum will be in focus after the WTI Crude fell as much as 3.12 per cent to $56.81 compared with its closing of $58.09 September 23, according to data compiled by investing.com.Foreign Investors Sold Shares Worth Rs 828 Crore On TuesdayThe foreign institutional investors sold shares worth Rs 828.49 crore on Tuesday, according to the provisional data on the National Stock Exchange.On the other hand, domestic institutional investors bought shares worth Rs 472.81 crore.SGX Nifty Extends Decline, Drops Over 30 PointsThe Nifty Futures on Singapore Exchange extended decline as it fell 0.3 per cent or 35 points to 11,597 indicating that the Nifty 50 Index may open lower.Asian Shares Trade Lower After US House Readies Trump Impeachment InquiryAsian stocks fell on Wednesday after the United States lawmakers called for an impeachment inquiry into President Donald Trump, increasing the prospects of prolonged political uncertainty in the world's largest economy.MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 per cent, Japan's Nikkei fell 0.55 per cent, while Australian shares fell 0.66 per cent.The dollar nursed losses against most major currencies as the impeachment inquiry sets the stage for a fierce battle between Democrats and Trump's Republican Party over whether the president sought foreign influence to smear a political rival.Sterling remained broadly supported in Asia after the UK Supreme Court ruled Prime Minister Boris Johnson's decision to shut down parliament was unlawful, a move that could thwart his plan to pull Britain out of European Union next month with or without a deal.Source: ReutersJSW Steel, Kaveri Seed Company Among Shares In Focus TodayJSW Steel: The company's finance committee of the board of directors has approved the issuance of fixed rate senior unsecured notes aggregating to $400 million.
The proceeds of the notes will be used by the company for capital expenditure or any other purpose in accordance with the Foreign Exchange Management (Borrowing and Lending) Regulations 2018.Kaveri Seed Company: The company's board of directors on Tuesday after market hours approved the proposal of buyback of equity shares aggregating to Rs 196 crore.Mindtree: The company's shareholders approved appointment of Debashis Chatterjee as Chief Executive Officer and Managing Director of the company.Morepen Labs: Market regulator Securities and Exchange Board of India has banned the company from accessing the capital markets for one year for making misleading disclosure about the issuance of global depository receipts (GDRs).