Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
2-min read

Sensex Drops Over 150 Points on Weak IIP Data

Infosys was also among the top gainers, rising 2.58 per cent, after the company on Friday said it will buyback shares worth up to Rs 8,260 crore and offer shareholders a special dividend of Rs 4 per share as part of the company's Rs 13,000 crore-capital allocation policy.

PTI

Updated:January 14, 2019, 6:11 PM IST
facebookTwitterskypewhatsapp
Sensex Drops Over 150 Points on Weak IIP Data
Representative image of Sensex.
Loading...

Mumbai: The benchmark BSE Sensex ended over 150 points lower on Monday as foreign investors cut down bets on disappointing IIP data and weak trend in other Asian markets.

After a volatile session, the 30-share index settled 156.28 points, or 0.43 per cent, down at 35,853.56, while the broader NSE Nifty fell 57.35 points, or 0.53 per cent, to finish at 10,737.60.

The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, Bharti Airtel and SBI, declining up to 2.64 per cent.

On the other hand, Yes Bank was the biggest gainer on Sensex, rallying up to 6.22 per cent, on reports that the lender had shortlisted its executive Rajat Monga and a CEO of a foreign bank to succeed long-serving Managing Director and Chief Executive Officer Rana Kapoor.

Infosys was also among the top gainers, rising 2.58 per cent, after the company on Friday said it will buyback shares worth up to Rs 8,260 crore and offer shareholders a special dividend of Rs 4 per share as part of the company's Rs 13,000 crore-capital allocation policy.

Other gainers include, Sun Pharma, Bajaj Finance, Maruti and Tata Motors, rising up to 1.68 per cent.

"Early hiccups to Q3 results due to mixed outcome from IT & Bank blue-chips negatively influenced the domestic market.

"Additionally, sharp fall in IIP and headwinds from global market due to slowdown in world economy, US shut-down and Brexit impacted the sentiment. Consolidation in domestic market was broad based as FIIs were on a selling mode, while DIIs were on the sideline due to concerns over oil prices, weak INR and fiscal deficit," Vinod Nair, Head of Research, Geojit Financial Services said.

According to experts, overall investor sentiment was weak after the government on Friday released the industrial output growth numbers, which dropped to a 17-month low of 0.5 per cent in November on account of contraction in manufacturing sector, particularly consumer and capital goods.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 687.20 crore Friday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 123.17 crore, provisional data available with BSE showed.

"The Eastern market indexes, except Nikkei, were in the red today in response to the accelerating fears of a global slowdown, and also the impact of the tariff war between China and the US, both of which have started showing early signs of its impact on China...Domestically, the weak IIP data raised concerns with regard to the expected pick-up in growth rates," Joseph Thomas, Head Research, Emkay Wealth Management, said.

On the macro front, the rupee depreciated 32 paise to 70.81 against the US dollar.

Brent crude futures were trading 1.49 per cent lower at USD 59.58 per barrel.

Elsewhere in Asia, Korea's Kospi fell 0.53 per cent, Shanghai Composite Index slipped 0.71 per cent, and Hong Kong's Hang Seng dropped 1.38 per cent. While, Japan's Nikkei jumped 0.97 per cent.

In Europe, Frankfurt's DAX was down 0.55 per cent, Paris CAC 40 fell 0.77 per cent, and London's FTSE shed 0.73 per cent.

"On the domestic front going forward we believe that Q3FY19 numbers and management commentary from India Inc will be keenly watched by market participants and will play a crucial role in further market upside.

"Additionally US-China trade wars, rising crude oil prices, FII outflow and the upcoming general elections will keep the markets volatile in the short term," Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas, said.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
RBL Bank 500.40 -13.69
Yes Bank 83.25 -2.97
Bajaj Finance 3,323.10 -4.17
ACC 1,543.65 -1.50
Reliance 1,249.00 -1.02
Company Price Change %Gain
Biocon 240.35 -8.63
Yes Bank 83.25 -2.97
RBL Bank 500.35 -13.71
ICICI Bank 410.10 -2.05
HDFC AMC 2,316.85 6.76
Top Gainers
Company Price Change %Gain
NTPC 129.90 2.24
Titan Company 1,091.05 1.02
Coal India 221.90 0.73
TCS 2,076.95 0.53
BPCL 351.00 0.50
Company Price Change %Gain
NTPC 129.85 2.20
Coal India 221.95 0.68
TCS 2,076.95 0.55
ONGC 144.10 0.42
Power Grid Corp 205.90 0.27
Top Losers
Company Price Change %Gain
M&M 571.30 -4.37
Bajaj Finance 3,323.10 -4.17
Eicher Motors 17,664.00 -4.03
Hero Motocorp 2,387.40 -3.71
Tata Motors 154.85 -3.67
Company Price Change %Gain
M&M 571.35 -4.36
Bajaj Finance 3,322.05 -4.16
Tata Motors 154.80 -3.73
Hero Motocorp 2,387.65 -3.71
IndusInd Bank 1,421.45 -3.40

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results