Despite a rally in the domestic equity market on Thursday, the market closed lower on Friday due to profit booking, a weaker rupee and lower crude oil prices. The market saw a secular sell-off in today’s trading session as all the sectoral indices closed in red and fell the most since February 11. Sentiment also weighed the fallout of PM Narendra Modi’s decision to demonetise currency and withdraw high denomination bank notes.
US bond yields have surged after Trump's election on worries over his policies stance - from protectionism and fiscal expansion - to boosting inflation and leading the Federal Reserve to raise interest rates more than expected. Markets also fear that the US Federal Reserve could go ahead with a rate hike in December, given signs of stability in the US share markets.
Also, sentiment was impacted by the surprise demonetization of Rs 500 and Rs 1,000 notes. The sectors which saw maximum dampening of sentiment were real estate, gems & jewellery and consumption segments.
Finally, the BSE Sensex ended today’s trading with a loss of 699 points at 26,819. It opened at 27,345, touched an intra-day high of 27,345 and low of 26,777.
The NSE Nifty closed with a loss of 229 points at 8,698. It opened at 8,457, hit an intra-day high of 8,461 and low of 8,285.
Significant selling was witnessed in auto, telecom, realty, finance, metal, oil & gas, consumer durables, banking, pharma and FMCG stocks on the BSE.
Among the 50 stocks of the Nifty, Sun Pharma is the only gainer, whereas Bharti Infratel, M&M, Eicher Motors, UltraTech Cement, Yes Bank and Hero MotoCorp were among the losers today.
The India VIX (Volatility) index was up 12.34% to 17.3650. Out of 1,479 stocks traded on the NSE, 1,348 declined and 110 advanced today.
The BSE Midcap and the Smallcap index closed in the red.
The rupee was trading down 55 paise at 67.17 per US dollar.
The BSE Sensex and NSE Nifty will be closed on Monday on account of 'Guru Nanak Jayanthi'.
Asian shares stumbled on Friday and emerging market currencies skid lower as investors fear higher interest rates under the incoming President Donald Trump who will spark capital outflows from the region. Shanghai Composite and Nikkei 225 closed in green while Hang Seng fell 1.4%.
In Europe, the CAC 40 and FTSE are trading in red, while DAX is trading marginally up.
State Bank of India tumbled 3% on the BSE. The bank has posted a net profit of Rs 2,538 crore for the quarter ended September 30, 2016 as compared to Rs 3,879 crore for the quarter ended September 30, 2015.
Sun Pharma zoomed 3.3% after the company reported an over two-fold jump in its consolidated net profit to Rs 2,235 crore for the September quarter. The company had posted a net profit after taxes, non controlling interests, share of profit/loss of associates and joint ventures of Rs 1,028.8 crore for the same period a year ago.
Noida Toll Bridge Company slipped 8.6% after Supreme Court refused to stay Allahabad High Court’s order which made DND flyover toll free.
Indiabulls Real Estate zoomed 6% after the company announced that the board will meet on November 24, to consider buyback of equity shares.
A total of 20 stocks registered a fresh 52-week high in trade today, whereas 11 stocks touched a new 52-week low on the NSE.
US bond yields have surged after Trump's election on worries over his policies stance - from protectionism and fiscal expansion - to boosting inflation and leading the Federal Reserve to raise interest rates more than expected. Markets also fear that the US Federal Reserve could go ahead with a rate hike in December, given signs of stability in the US share markets.
Also, sentiment was impacted by the surprise demonetization of Rs 500 and Rs 1,000 notes. The sectors which saw maximum dampening of sentiment were real estate, gems & jewellery and consumption segments.
Finally, the BSE Sensex ended today’s trading with a loss of 699 points at 26,819. It opened at 27,345, touched an intra-day high of 27,345 and low of 26,777.
The NSE Nifty closed with a loss of 229 points at 8,698. It opened at 8,457, hit an intra-day high of 8,461 and low of 8,285.
Significant selling was witnessed in auto, telecom, realty, finance, metal, oil & gas, consumer durables, banking, pharma and FMCG stocks on the BSE.
Among the 50 stocks of the Nifty, Sun Pharma is the only gainer, whereas Bharti Infratel, M&M, Eicher Motors, UltraTech Cement, Yes Bank and Hero MotoCorp were among the losers today.
The India VIX (Volatility) index was up 12.34% to 17.3650. Out of 1,479 stocks traded on the NSE, 1,348 declined and 110 advanced today.
The BSE Midcap and the Smallcap index closed in the red.
The rupee was trading down 55 paise at 67.17 per US dollar.
The BSE Sensex and NSE Nifty will be closed on Monday on account of 'Guru Nanak Jayanthi'.
Asian shares stumbled on Friday and emerging market currencies skid lower as investors fear higher interest rates under the incoming President Donald Trump who will spark capital outflows from the region. Shanghai Composite and Nikkei 225 closed in green while Hang Seng fell 1.4%.
In Europe, the CAC 40 and FTSE are trading in red, while DAX is trading marginally up.
State Bank of India tumbled 3% on the BSE. The bank has posted a net profit of Rs 2,538 crore for the quarter ended September 30, 2016 as compared to Rs 3,879 crore for the quarter ended September 30, 2015.
Sun Pharma zoomed 3.3% after the company reported an over two-fold jump in its consolidated net profit to Rs 2,235 crore for the September quarter. The company had posted a net profit after taxes, non controlling interests, share of profit/loss of associates and joint ventures of Rs 1,028.8 crore for the same period a year ago.
Noida Toll Bridge Company slipped 8.6% after Supreme Court refused to stay Allahabad High Court’s order which made DND flyover toll free.
Indiabulls Real Estate zoomed 6% after the company announced that the board will meet on November 24, to consider buyback of equity shares.
A total of 20 stocks registered a fresh 52-week high in trade today, whereas 11 stocks touched a new 52-week low on the NSE.
