Closing Bell: Sensex down over 200 pts, Nifty ends below 10,650; banks drag

That is a wrap on today's coverage from D-Street on Moneycontrol.

Podcast | Sensex slips over 200 points; Nifty50 holds 10,600 levels

The S&P BSE Realty index slipped 3.2 percent, followed by the S&P BSE Power index which was down 2.3 percent, and the S&P BSE Telecom index closed 1.95 percent lower.... Read More

The rupee wiped out all its gains in morning trade itself, closing down 5 paise at 67.11 against the US dollar. It appreciated up to 66.85 intraday following positive trend in equities.

Technical View: Nifty forms a strong bearish candle; avoid long bets for now

Analysts advise investors to avoid long positions for now and stay on sidelines till MPC meet is over. Hawkish commentary from the Reserve Bank of India (RBI) could lead to a knee-jerk reaction on D-Street.... Read More

Banks drag Sensex 215 pts, Nifty below 10,700 ahead of RBI policy; Midcap continues to dip

Now all eyes are on Monetary Policy Committee's rate decision scheduled to be announced on Wednesday. Largely expectations are status quo on policy rates but the commentary would be keenly watched, experts said.... Read More

PNB in Focus: Fitch Ratings has downgradedPNB'sviability rating to 'B' but maintained rating Watch Negative.

: India Ratings believes the Reserve Bank of India’s Monetary Policy Committee (MPC) will keep the policy rate unchanged in its upcoming review.

Although the MPC minutes from April’s policy review indicate a potential shift in the Reserve Bank of India’s liquidity stance to ‘withdrawal of accommodation’ from current ‘neutral’ stance, the agency believes the MPC will wait for the outturn of monsoon and its distribution, and further movement in crude oil prices before deciding on the rate hike.

In the interim, financial market conditions have already tightened. A mix of global and domestic factors such as risk aversion among global investors, crude oil price volatility, higher borrowing by the state governments and a likely fiscal slippage by the central government has driven the bond yields higher. The 91-day Treasury bill rates increased to 6.4 percentin May 2018 from 6.11 percentin April 2018, while the 10-year G-sec rate rose to 7.88 percent from 7.15 percent during the same period.

: Benchmark indices ended sharply lower after the rally in previous week, weighed largely by banking & financials.

The 30-share BSE Sensex shed 215.37 points to 35,011.89and the 50-share NSE Nifty slipped 67.70 points to 10,628.50 while the Nifty Midcap index shed over 1 percent.

About four shares declined for every share rising on the BSE. Nifty Bank shed 435 points.

Leel Electricals, PC Jeweller, Kwality, Rain Commodities, Delta Corp, HEG, Graphite India, KEC International, TVS Motor, Escorts, Equitas Holdings, down up to 16 percent.

Vakrangee, Atlanta, Man Infra, Lemon Tree, Hexaware and Jubilant Foodworks gained up to 5 percent.

: The benchmark indices slipped further in the final hour of trading as Sensexwas down 225 points trading below 35,000.

Dr Reddys Labs, Infosys, M&M, Tata Steel and Reliance Industries are the top gainers on the Sensex, while losers are HDFC Bank, Adani Ports, Bharti Airtel, Power Grid Corp and HUL .

Should investors look at retail bond issuances now?

Bond investors have been hit hard over the past one-and-a-half year. For those in fixed deposits, the interest rates have been low and bond fund investors have been worried due to tepid returns on account of rising bond yields.... Read More

Housing financier DHFL has raised over Rs 10,944 crore through public issue of bonds which had open for subscription in May.

The public issue of non-convertible debentures (NCDs), which opened on May 22, had an issue size of Rs 3,000 crore with an option to retain oversubscription of up to Rs 9,000 crore aggregating up to Rs 12,000 crore.

Wind energy capacity addition is estimated at about 3-3.5 GW in FY2019 and the viability of bid tariffs and inter-state connectivity will be key headwinds for developers, ratings agency ICRA said today.

The project awards so far are expected to improve the capacity addition in the wind power segment to about 3 to 3.5 GW in FY2019 against 1.7 GW in FY2018, ICRA said in a statement.

The Ministry of New and Renewable Energy (MNRE) along with the distribution utilities in Gujarat, Maharashtra and Tamil Nadu have awarded wind-power capacity of 7.6 GW over the past 15 months and another 10 GW each are proposed to be awarded in FY2019 and FY2020, reported PTI.

: Benchmark indices extended losses in afternoon trade, with the Sensex falling more than 150 points and the Nifty breaking 10,650 levels due to further correction in banks.

Nifty Bank index plunged 400 points as HDFC Bank, ICICI Bank, Kotak Mahindra Bank and SBI are top contributors to the index fall, which are down 1-2 percent.

HUL, Indiabulls Housing, Titan Company, Bajaj Finserv, Bharti Airtel, Asian Paints, Adani Ports and Power Grid slipped up to 3 percent.

Reliance Industries (up 1.17 percent), Infosys (0.89 percent) and ITC (up 0.4 percent) managed to cap some losses.

The BSE Sensex dropped 199.96 points to 35,027.30 and the NSE Nifty dipped 66.20 points to 10,630. Nifty Midcap slipped over a percent as about four shares declined for every share rising on the BSE.