Closing Bell: Nifty ends below 10,750; RIL, Infosys negative contributors

An evening walk down Dalal Street: Looming trade tariff deadline between US & China weighs on Sensex, Nifty

Both the benchmark indices, Sensex and the Nifty finally closed the day with marginal losses. On the sectoral front, performance was largely skewed to the negative.... Read More

: Asian stocks ended the session lower, with China's Shanghai Composite falling nearly a percent as investors remained cautious ahead of implementation of tariffs from the US and China on July 6.

Japan's Nikkei was down 0.78 percent and Hong Kong's Hang Seng fell 0.21 percent while South Korea's Kospi declined 0.35 percent.

However, European markets were trading sharply higher following the jump in auto stocks. Germany's DAX was up 1.2 percent and France's CAC up 0.92 percent while Britain's FTSE gained 0.5 percent at the time of writing this article.

The market remain choppy during the day but ended marginally lower with Sensex falling 70 points, while Nifty ended below 10,750 mark.

The 30-share BSE Sensex was down 70.85 points at 35,574.55 and the 50-share NSE Nifty fell 20.10 points to 10,749.80.

The market breadth was weak, about 1052 shares have advanced, 1541 shares declined, and 165 shares are unchanged on the BSE.

Midcap and smallcap underperform the major indices with 0.5 percent cut.

Dalmia Bharat, Shree Cement, India Cements and Ultratech Cement gained 3-4 percent.

Saregama, Gati, Force Motors, Firstsource Solutions, CESC, Muthoot Finance, Max Financial, LIC Housing Finance, 8K Miles Software gained up to 10 percent.

KPIT Technologies, Equitas Holdings, Hathway Cable, Den Networks, IDBI Bank, United Spirits, United Breweries, Radico Khaitan, IDFC Bank, IDFC and Nalco fell up to 16 percent.

The Indian rupee slipped 23 paise at 68.97 per dollar. It has opened 6 paise lower at 68.80 per dollar against previous close 68.74.

Shares ofSom Distilleries and Breweriesgained 3.7 percent afteracquisition of a brewery in the state of Odisha.

The said facilityis expected to be operational in the coming 3-4 months.

The acquisition valued at Rs 42 crores has a capacity of 42 lakh cases per annum.

: Infosys unveiled a new partnership with Siemens PLM Software to develop applications and services for MindSphere, the open cloud-based IoT operating system from Siemens.

This partnership between Infosys and Siemens will enable customers to improve competitiveness by leveraging the power of data generated by their devices.

MindSphere connects real things to the digital world and provides powerful industry applications and digital services to help drive business success.

Infosys was quoting at Rs 1,278.25, down 4.93 percent and Siemens was quoting at Rs 968.10, down 0.39 percent on the BSE.

The Bank of Baroda has raised lending rate by 5 bps applicable from July 7, 2018

At 14:50 hrs Bank Of Baroda was quoting at Rs 113.90, up Rs 0.35, or 0.31 percent.

June quarter earnings season will begin next week with Dish TV announcing numbers on Monday; TCS, IndusInd Bank and Prakash Industries on Tuesday; Karnataka Bank on Thursday; and Infosys on Friday.

Share prices of all listed liquor companies fell up to 6 percent on Thursday after the Karnataka government increased additional excise duty on liquor.

United Spirits share price lost 5.6 percent intraday, GM Breweriesdropped 5 percent, United Breweries 3.2 percent and Globus Spirits 1.1 percent while Pincon Spirit was locked at 5 percent upper circuit after the news.

While announcing Karnataka government Budget, the state Chief Minister H D Kumaraswamy proposed a hike in the additional excise duty on Indian-made liquor by 4 percent across the board on all 18 slabs.

Gold prices traded in a narrow range on Thursday, after hitting a one-week high in the previous session, amid an easing dollar and as the markets awaited minutes from the US Federal Reserve's June policy meeting later in the day.

Spot gold held steady at $1,255.59 an ounce as of 0435 GMT. The metal touched a one-week high at $1,261.10 in the prior session and gained over $20 from Tuesday's low of $1,237.32 an ounce, its weakest since Dec. 12.

US gold futures were up 0.3 percent at $1,256.70 an ounce.

:ICICI Securities share price corrected for fourth consecutive session, falling 4 percent to hit fresh low of Rs 292.65 intraday on Thursday after SEBI found ICICI Prudential Asset Management Company guilty of helping I-Sec's IPO get subscribed.

The stock price lost more than 11 percent in four consecutive sessions. Not only ICICI Securities but also other ICICI Group companies like ICICI Bank (down 0.4 percent intraday), ICICI Prudential Life Insurance (1.2 percent) and ICICI Lombard General Insurance company (2.7 percent) corrected due to corporate governance issue.

Capital and commodities markets regulator, SEBI, has found ICICI Prudential Asset Management Company (ICICI Pru AMC) guilty of violating rules while bidding for the shares of firm ICICI Securities (I-Sec) on the last day of initial public offer.

FMCG, consumer, auto and banking stocks are likely to benefit from hike in MSP

MSP is a price at which the government buys crops from the farmers, irrespective of its price, to protect agriculture producers from sharp fall in farm prices.... Read More

Shares ofSubexrose more than 9 percent as company baggedmulti-million dollar contract from Optus.

Optus is one of the largest telecom operators in Australia and a fully owned subsidiary of Singtel.

The company's ROC Network Asset Management will enable Optus to control all of its existing and new network investments through a well-defined network efficiency framework.