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Sep 21, 2018 03:42 PM IST | Source: Moneycontrol.com

Closing Bell: Volatile trade on D-Street, Sensex ends 279 pts lower, Nifty below 11,150; DHFL down 45%

At the close of market hours, the Sensex closed down 279.62 points or 0.75% at 36841.60, while the Nifty ended lower by 91.30 points or 0.81% at 11143.10

  • Sep 21, 03:39 PM (IST)

    Market at Close A largely volatile day has come to a close and indices have ended on a negative note. But they are off the day’s low points. The Nifty has managed to give up 11,200 in today’s trade. The Sensex has closed over 200 points lower. 

    The day began on a strong note as good global cues and stronger opening on the rupee boosted sentiment in D-Street. The Sensex had risen 300 points in intraday trade. But a sharp selloff in the afternoon, led by a 50 percent crash in Dewan Housing Finance’s shares as well as on Indiabulls Housing weighed big on the market. The Sensex fell 1,000 points, while the Nifty had managed to breach 11,000-mark as well. 

    However, with managements of these NBFCs trying to allay fears and dismissing reports of debt defaults, the market staged a recovery. Reports also emerged that DSP Mutual Fund had managed to sell some short-term paper of DHFL at 11 percent discount in a bid to build liquidity against its exposure to IL&FS. This led to the massive fall in the market as well. 

    At the close of market hours, the Sensex closed down 279.62 points or 0.75% at 36841.60, while the Nifty ended lower by 91.30 points or 0.81% at 11143.10. The market breadth is negative as 596 shares advanced, against a decline of 2,071 shares, while 155 shares were unchanged.

    Shares of DHFL ended 45 percent lower, while top losers include Yes Bank, Kotak Mahindra Bank, and Indiabulls Housing Finance, while the gainers include ONGC, Wipro, Bharti Infratel and BPCL.  

  • Sep 21, 03:17 PM (IST)

    DSP MUTUAL FUND CLARIFIES

    The management of DSP Mutual Fund told CNBC-TV18 that it sold DHFL paper worth Rs 200-300 crore recently in a bid to improve liquidity and reduce overall maturity. 

    Further, they added that the fund house has some exposure to IL&FS Group and added that they have already marked down holding on marked to market ratio. 

  • Sep 21, 02:55 PM (IST)

    JUST IN: The Nifty is currently hovering around 100-day exponential average moving average.

  • Sep 21, 02:44 PM (IST)

    HOW D-STREET IS REACTING TO THE SHARP FALL AND RECOVERY IN THE MARKET

    Dipan Mehta, member of BSE and NSE told CNBC-TV18 that NBFCs seem to be a falling knife and makes sense to stay put at this point. Overall, sentiment is getting sour and it is better to wait and conserve the cash. It looks like something is brewing, he added. 

    Independent market expert, Madhu Kela told CNBC-TV18  that he does not see any fundamental reason for the fall that happened in the market on Friday. It rather seems to be due to technical factors. Sounding optimistic on this, he said that a lot of panic is out of the system today.  

  • Sep 21, 02:23 PM (IST)

    BREAKING: News agency Reuters is reporting that the government is likely to ‘positively surprise’ the market in the second half of borrowing calendar. The report further added that the Centre could announce lower than expected market borrowings for remainder of this fiscal year. Officials reportedly met select market participants earlier this week and assured them of positive signals to the market. 

  • Sep 21, 02:11 PM (IST)

    NBFC outlook: Sanjiv Bhasin of IIFL told Moneycontrol that a selloff in non-banking financial companies (NBFCs) is a lot to do with the fiasco around IL&FS. “This is the real elephant in the room. The real weakness is due to this issue and not a depreciating rupee. All mutual funds and other entities have some exposure to such instruments and that is impacting stocks in the space,” Bhasin told the website.
     

  • Sep 21, 02:03 PM (IST)
  • Sep 21, 01:42 PM (IST)

    JUST IN There has been a sharp recovery in the market in the past few minutes after representatives of some NBFC companies tried to allay fears on television interviews. DHFL told CNBC-TV18 that they had not defaulted any payments and the panic selling was a surprise. 

    The Sensex is down 168.81 points or 0.45% at 36952.41, while the Nifty is down 67.00 points or 0.60% at 11167.40. The market breadth is negative as 442 shares advanced, against a decline of 2,083 shares, while 138 shares were unchanged.

  • Sep 21, 01:28 PM (IST)

    Here is a look at top losers on BSE 500. Stocks have slipped over 10 percent in today's trade as of 1:20 pm

     Here is a look at top losers on BSE 500. Stocks have slipped over 10 percent in today's trade as of 1:20 pm
  • Sep 21, 01:23 PM (IST)

    Market recovers There are wild swings seen on the market as there has been some recovery after managements of DHFL and Indiabulls Housing tried to allay investor fears. 

    The Sensex is down 374.74 points or 1.01% at 36746.48, while the Nifty is down 149.70 points or 1.33% at 11084.70. The market breadth is negative as 381 shares advanced, against a decline of 2,127 shares, while 133 shares are unchanged.

    Automobiles, banks, FMCG, infra, metals and pharmaceuticals are all seeing a selloff, while the Nifty Midcap index is down over 4 percent. 

     Market recovers  There are wild swings seen on the market as there has been some recovery after managements of DHFL and Indiabulls Housing tried to allay investor fears.  

 The Sensex is down 374.74 points or 1.01% at 36746.48, while the Nifty is down 149.70 points or 1.33% at 11084.70. The market breadth is negative as 381 shares advanced, against a decline of 2,127 shares, while 133 shares are unchanged. 

 Automobiles, banks, FMCG, infra, metals and pharmaceuticals are all seeing a selloff, while the Nifty Midcap index is down over 4 percent. 
  • Sep 21, 01:13 PM (IST)

    There is absolute carnage visible on D-Street. The Sensex has fallen 1,000 points, while the Nifty has given up 11,000 as well. Take a look at this heatmap chart of the Sensex. 

     There is absolute carnage visible on D-Street. The Sensex has fallen 1,000 points, while the Nifty has given up 11,000 as well. Take a look at this heatmap chart of the Sensex. 
  • Sep 21, 01:07 PM (IST)

    Market Update Equity benchmarks have seen a sharp swing in the past one hour, with the Sensex losing over 200 points, while the Nifty has fallen over 100 points. It has given up 11,200 as well. 

    The Sensex is down 198.26 points or 0.53% at 36922.96, while the Nifty is lower by 109.60 points or 0.98% at 11124.80. The market breadth is negative as 555 shares advanced, against a decline of 1,905 shares, while 146 shares were unchanged.

    Shares of Yes Bank, Sun Pharma and Indiabulls Housing are the top losers, while ITC, ONGC and Bharti Infratel have gained the most.  

  • Sep 21, 01:02 PM (IST)

    DHFL market cap tanks by Rs 10,000 crore DHFL has lost Rs 10,000 crore in market capitalisation. 

    Read latest news on DHFL here

    https://www.moneycontrol.com/news/tags/dhfl.html   

  • Sep 21, 12:56 PM (IST)

    JUST IN: The rupee is back at 72 per US dollar mark and has depreciated almost half a percent. Image: Bloomberg

      JUST IN:  The rupee is back at 72 per US dollar mark and has depreciated almost half a percent.  Image: Bloomberg
  • Sep 21, 12:51 PM (IST)

    NBFCs tank: There has been some massive selloff in stocks in the non-banking financial companies (NBFCs), led by a fall in Dewan Housing Finance (DHFL). The stock has slipped below Rs 400 per share and is down 40 percent in intraday trade. Other housing finance companies such as Indiabulls Housing and Bajaj Finance, among others, are trading in 

  • Sep 21, 12:45 PM (IST)

    Market Update A sharp selloff in banks along with sectoral indices such as automobiles, FMCG, pharma as well as a bigger selloff in midcaps has dragged the equity markets. They have given up all of their gains. 

    The Sensex is down 2.02 points or 0.01% at 37119.20, while the Nifty is lower by 26.50 points or 0.24% at 11207.90. The market breadth is negative as 867 shares advanced, against a decline of 1,542 shares, while 156 shares were unchanged.

    Axis Bank, ICICI Bank, and Indian Oil are the top gainers, while Yes Bank, HUL, and Indiabulls Housing have lost the most. 

  • Sep 21, 12:04 PM (IST)

    JUST IN: Southwest monsoon is likely to see a withdrawal by September-end, CNBC-TV18 reported, quoting Cogencis. 

  • Sep 21, 11:59 AM (IST)

    RIL production ceases in KG-D6 basin field: MA (D26) field in Block KG-DWN-98/3 (KGD6), which is being operated by Reliance Industries (RIL) as an operator of the joint venture between company, BP and NIKO, has ceased production on September 17, 2018. 

    Post cessation, activities related to safe shutdown of field are underway. Production from the field had been under natural decline and facing continuous challenges due to high water production and sand ingress.

    The field has cumulatively produced about 0.53 TCF of Gas and 31.4 Million Barrel of Oil & Condensate and had no remaining reserves.

  • Sep 21, 11:55 AM (IST)

    Sun Pharma gets Australian Regulator nod for Ilumya: Sun Pharmaceutical Industries has received the Australian Therapeutic Goods Administration (TGA) approval for its speciality product, Ilumya (tildrakizumab) for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy. 

    Ilumya is contraindicated in patients with a previous serious hypersensitivity reaction to tildrakizumab or to any of the excipients in Ilumyatm, and in patients with clinically important active infections, e.g. active tuberculosis.

  • Sep 21, 11:50 AM (IST)

    Buzzing: Shares of State Bank of India (SBI) gained 2.6 percent after bank concluded the issuance of USD 650 Mio Green Senior Unsecured Fixed Rate Notes programme.

    The bank has concluded the issue of USD 650 Mio Green Senior Unsecured Fixed Rate Notes having maturity of 5 years and coupon of 4.5 percent payable semi annually under Regulation-S.

    The Bonds will be issued through its London branch as September 28, 2018 and shall be listed on Singapore Stock Exchange and lndia lnternational Exchange, GIFT City.

  • Sep 21, 11:42 AM (IST)

    Market Update: Benchmark indices cut some of its morning gains with Nifty hovering around 11,300 mark.

    At 11:42 hrs IST, the Sensex is up 228.68 points at 37,349.90, while Nifty is up 62.60 points at 11,297. About 1103 shares have advanced, 1187 shares declined, and 163 shares are unchanged.

    HDFC Bank, Reliance Industries, HDFC, ITC and Kotak Mahindra Bank are the positive contributors to the Sensex.

    Among the sectors, PSU banking are leading with 2 percent gains, followed by energy, auto, infra, metal and pharma. On the other side, IT space is down 0.5 percent as rupee is trading higher by 60 paise at around 71.80 per dollar. 

  • Sep 21, 11:32 AM (IST)

    Buzzing: ​Cipla share price gained 1.6 percent after the pharma company received approval from the US health regulator for anti-nausea drug.

    Cipla has received approval from US Food and Drug Administration for Palonosetron Hydrocholride injectable, which is available in strength of 0.25 mg/5ml.

  • Sep 21, 11:23 AM (IST)

    Gravita expands production capacity: Shares of Gravita India rose nearly 9 percent after company expanded its production capacity of Chittoor plant.

    The company has expanded the capacity of its existing plant located at Chittoor, Andhra Pradesh by installing new washing line and PPCP Granules extrusion lines which is having annual capacity or 4,800 MTPA.

    The production from said plant will cater the needs of PP/HDPE moulding & fiber industries globally.

  • Sep 21, 11:17 AM (IST)

    Buzzing: Shares of Dilip Buildcon added more than 3 percent after company declared lowest bidder for metro rail project of Rs 228.96 crore.

    The company has been declared lowest bidder (L-1) by the Madhya Pradesh, Metro Rail Co, Urban Administration and Development Department, Bhopal (MP) for a metro rail project in the state of Madhya Pradesh.

  • Sep 21, 11:00 AM (IST)

    UNITED SPIRITS UNDER PRESSURE AFTER PROFIT WARNING BY DIAGEO

    Shares of United Spirits are under pressure on Friday morning. The shares are down almost 5 percent after its promoter Diageo issued profit warnings based on forex volatility.

    Diageo is reportedly foreseeing £175 m hit on sales and £45 m hit on EBITDA on the back of forex volatility.

      UNITED SPIRITS UNDER PRESSURE AFTER PROFIT WARNING BY DIAGEO  

 Shares of United Spirits are under pressure on Friday morning. The shares are down almost 5 percent after its promoter Diageo issued profit warnings based on forex volatility. 

 Diageo is reportedly foreseeing £175 m hit on sales and £45 m hit on EBITDA on the back of forex volatility.
  • Sep 21, 10:52 AM (IST)

  • Sep 21, 10:27 AM (IST)

    Market Update It has been a steady move on the market so far on this Friday morning. The Nifty is trading well above 11,300-mark. 

    Good global cues along with a stronger rupee are aiding sentiment on D-Street. 

    Among sectors, auto, banks, energy, metals and pharma names are trading in the green, while stocks in the midcaps space are trading flat. 

    The Sensex is up 315.02 points or 0.85% at 37436.24, while the Nifty is higher by 89.50 points or 0.80% at 11323.90. The market breadth is positive as 1,184 shares advanced, against a decline of 815 shares, while 130 shares were unchanged.

    Shares of ICICI Bank and Axis Bank are the top gainers on both indices, while Yes Bank, Infosys and Indiabulls Housing have lost the most.  

     Market Update  It has been a steady move on the market so far on this Friday morning. The Nifty is trading well above 11,300-mark.  

 Good global cues along with a stronger rupee are aiding sentiment on D-Street.  

 Among sectors, auto, banks, energy, metals and pharma names are trading in the green, while stocks in the midcaps space are trading flat.  

 The Sensex is up 315.02 points or 0.85% at 37436.24, while the Nifty is higher by 89.50 points or 0.80% at 11323.90. The market breadth is positive as 1,184 shares advanced, against a decline of 815 shares, while 130 shares were unchanged. 

 Shares of ICICI Bank and Axis Bank are the top gainers on both indices, while Yes Bank, Infosys and Indiabulls Housing have lost the most.  
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