IndiaCatalog.com
India News
Search Web Directory
News Home
Market decline for second straight week, fall 299 points
Posted on 15th September 2018
Mumbai: The market extended its decline for second straight week with BSE Sensex lossing another 299.18 points to close 38,090.64 and the broader Nifty falling 73.90 points to finish at 11,515.20.

The truncated and volatile week saw the stock market enduring initial bitter losses as rupee stabilized during late session after initial record lows.

The key indices fell sharply for the two sessions during start of the week, marking one month lows to revisit 37K-level impacted by escalating trade war concerns and global slide after US President Donald Trump threatened to impose higher tariffs on China, also the negative sentiments on expectation of US Fed rate hike this month.

While the rupee crashed to fresh record lows on rising crude, strengthening dollar and widening current account deficit, the 10 year-yield surged, so did the stocks selling pressure.

However, the market rebounded and capped the weeks larger losses after an government official assurance on measures to support the rupee after a planned review of the economy by Prime Minister Narendra Modi this weekend.

The assurance led the rupee recovery from record lows, it was further supported by data released by the Central Statistics Office on cooling of retail inflation (CPI) to 10-month lows at 3.69 percent in August and Wholesale Price index (WPI) inflation to a four-month low of 4.53 per cent in August.

For the week, rupee declined to end the week 71.84 per dollar after hitting record low of 72.92 on Wednesday.

The widespread buying finally reclaimed the key 38K- level.

The market was closed on Thursday, 13th September for 'Ganesh Chathurti'.

The BSE Sensex started the week lower 38,348.39 and hovered between a high of 38,354.52 and low of 37,342. before ending the week at 38,090.64, showing loss of 299.18 or 0.78 per cent.

(The Sensex lost 255.25 points or 0.66 per cent during previous week session). The Nifty also resumed lower by 11,570.25 and moved between high of 11,573.00 and low 11,250.20, the index settled the week at 11,515.20, a loss of 73.90 points, or 0.64 per cent. Barring some gains in Power, Metal and Capital Goods counters, selling was led by Auto, IPO, Banks, FMCG, IT, Oil and Gas, Consumer Durables, HealthCare, Realty, PSUs and Teck sectors.

The broader midcap and smallcap companies shares also witnessed intense selling activity.

The BSE Mid-Cap index fell 154.89 points or 0.94 per cent to settle at 16,349.97. The BSE Small-Cap index fell 226.02 points or 1.34 per cent to settle at 16,670.93.

Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth Rs 2,343.82 crore during the week, as per Sebi's record including the provisional figure of September 14, 2018.

Among sectoral and industry indices, auto fell by 1.85 per cent, IPO 1.33 per cent, bankex 1.25 per cent, FMCG 0.97 per cent, IT 0.85 per cent, oil and gas 0.65 per cent, consumer durables 0.63 per cent, healthcare 0.46 per cent, realty 0.43 per cent, PSU 0.41 per cent and teck 0.37 per cent, while power rose by 0.47 per cent, metal 0.32 per cent and capital goods 0.07 per cent.

Among the 31-share Sensex pack, 20 stocks fell and remaining 11 stocks rose during the week.

Hero Motoco was the top sensex losser last week, the stock fell by 4.22 per cent, it was followed by Tata Motors 3.98 per cent, Coal India 2.96 per cent, Tata Motors DVR 2.67 per cent, M&M 2.36 per cent, ICICI Bank 2.06 per cent, Reliance 1.88 per cent, Bharti Artl 1.83 per cent, Bajaj Auto 1.57 per cent, HDFC Bank 1.39 per cent and Axis Bank 1.38 per cent.

While NTPC rose by 3.00 per cent, Power grid 2.07 per cent, Vedl 1.93 per cent, Wipro 1.88 per cent, Asian paints 1.04 per cent, Adani Ports 0.78 per cent and L&T 0.75 per cent.

The total turnover during the week on BSE fell to Rs 12,749.28 crs as against last weekend's level of Rs 17,441.08 crores and NSE declined to 1,36,353.38 crores compared to Rs 1,80,835.22 crores previously.

Related Companies: Bombay Stock Exchange - BSE   National Stock Exchange of India Ltd (NSE)    

Other Latest News
World Cup 2019: ICC Dubai meeting likely to discuss India-Pak match in aftermath of Pulwama attack
Posted on 20th February 2019
After a top Board of Control for Cricket in India (BCCI) official suggested that the international cricket body does not have anything to do with the India-Pakistan match in the upcoming World Cup, a source from the ICC has responded to the same.

According to a tweet from ANI, an ICC source has said, There are chances that the India-Pakistan World Cup clash will be discussed on the sidelines of ICC meeting to be held in Dubai from 27th February.


India, Saudi Arabia agree on need to increase pressure on countries supporting terror: Modi
Posted on 20th February 2019
India and Saudi Arabia agreed on need to increase all possible pressure on countries supporting terrorism, Prime Minister Narendra Modi said on February 20 after holding talks with Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud.

Mr. Modi and Mr. Salman explored ways to further deepen strategic ties against the backdrop of escalating tensions between India and Pakistan following the Pulwama terror attack.


Bad loans: SBI writes off Rs 10,000 cr; total by 19 PSU banks at Rs 41,000 cr
Posted on 20th February 2019
Loans written off by a clutch of 19 large and mid-sized public-sector banks (PSBs) in the December quarter of FY19 rose 34% year-on-year (y-o-y) to nearly Rs 41,000 crore, contributing to a reduction in their non-performing assets (NPAs). These banks had written off loans worth only `33,259 crore in Q2FY19, up 24% y-o-y, indicating a gathering of pace in the write-off exercise.

Vijaya Bank saw the steepest increase in write-offs — 243 times y-o-y to Rs 487 crore in Q3FY19. This was followed by IDBI Bank, which saw a 4,783% y-o-y rise in write-offs to Rs 562 crore in Q3FY19.


Tata Motors staff get Rs 9,000 wage hike under pact
Posted on 20th February 2019
Tata Motors has signed a long-term wage settlement (LTS) agreement with its employees that will see workmen get a wage rise of Rs 9,000 per month along with other incentives based on performance. Around 6,500 workmen from the Pune plant will benefit from this agreement.

The Tata Motors management and the Tata Motors Employees Union in Pune signed the LTS on Monday. This is the first time that negotiations for the commercial vehicle (CVBU) facility and the passenger vehicle (PVBU) facilities in Pune were conducted jointly. Traditionally, there used to be a six-month lag between the two wage agreements.


Big setback for RCom: Supreme Court holds Anil Ambani guilty of contempt in Ericsson default case
Posted on 20th February 2019
In a major setback, the Supreme Court has held Anil Ambani guilty of contempt in Ericsson default case, and also directed RCom to pay balance payment of Rs 450 crore to Ericsson in 4 weeks. Notably, in case of default of payment to Ericsson, Anil Ambani will be sent to jail for 3 months, CNBC Tv18 reported Supreme Court as saying. Anil Ambani wilfully did not pay Rs 550 crore to Ericsson, and he a ‘cavalier’ approach, noted the apex court.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Market decline for second straight week, fall 299 points
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Market decline for second straight week, fall 299 points

Most Read News

At least 37 CRPF personnel killed in suicide blast in J&K's Pulwama, Jaish-e-Mohammed claims responsibility

Bharat Dynamics soars 16% on robust December quarter results

Tata Tiago crosses 2 lakh sales milestone since its launch in 2016

Facebook faces US privacy pact that could cost billions

Dr Reddy's Labs turns volatile; stock rebounds 32% from day's low on NSE

More India News

Photo Gallery

Jazbaa(11 Images) Jazbaa
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019 IndiaCatalog.com
    All Rights Reserved
Privacy Statement