News Details

( 14 Mar 2018)
Markets extend losses; Bharti Airtel, SBI shares dip

The key domestic benchmark indices were trading in a negative terrain in the morning trading session tracking weak cues and negative trend across the Asian markets.

On the economy front, the Reserve Bank of India has scrapped bank guarantee instruments such as the Letter of Undertaking and Letter of Comfort following the recent PNB scam. On the corporate front, shares of Yes Bank acquired more than 17 per cent share in Fortis Healthcare.

Among others, shares of IndusInd Bank saw some movement after the private lender said the Reserve Bank has approved the merger of Bharat Financial Inclusion Limited with the bank. Also, shares of Strides Shasun added 1.5 percent as it has received USFDA approval for Efavirenz Tablets.

At 10:15 a.m, the Bombay Stock Exchange bellwether Sensex was at 33726.39 down by 130.39 points or by 0.39 per cent, while the NSE Nifty was at 10384.35 down by 42.5 points or by 0.41 per cent.

The BSE Sensex touched an intraday high of 33800.04 and an intraday low of 33690.61 while the NSE Nifty touched an intraday high of 10407.05 and an intraday low of 10371.1.

The top gainers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2909.25,+0.58 per cent), Larsen & Toubro Ltd. (Rs. 1308.05,+0.45 per cent), Maruti Suzuki India Ltd. (Rs. 8781.95,+0.33 per cent), Infosys Ltd. (Rs. 1184.35,+0.32 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 2187.95,+0.30 per cent), among others.

Meanwhile, Bharti Airtel Ltd. (Rs. 419.75,-1.44 per cent), State Bank of India (Rs. 251.40,-1.37 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 379.50,-1.36 per cent), ICICI Bank Ltd. (Rs. 300.00,-1.32 per cent), Axis Bank Ltd. (Rs. 525.00,-1.09 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2078 shares traded, 962 shares advanced, 1011 shares declined while 105 were unchanged.

On the global front, Asian stocks were trading lower following the sacking of US Secretary of State Rex Tillerson, and amid talk of potential US tariffs against China., while the Wall Street closed lower in the previous trading session as the dismissal of U.S. Secretary of State Rex Tillerson and the possibility of additional U.S. import tariffs against China dragged down stocks across sectors.