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Sensex closes 227 points lower to 33,227, Nifty at 10,240 amid high crude oil price concerns

Brent crude prices hit a session high of $64.85, its highest level since June 24, 2015.


twitter-logoBusinessToday.in | December 12, 2017 | Updated 16:05 IST
Sensex closes 227 points lower to 33,227, Nifty at 10,240 amid high crude oil price concerns

The Sensex and Nifty extended losses in afternoon trade amid investor worries over crude oil prices hitting a two-year high. While Sensex was down 227 points to 33,227, Nifty fell below the key 10,250 mark , closing at 10,240  level.

Here are the key highlights, which will affect the market today.

3: 59 pm: Bank Nifty falls 279 points to 25,125 level.

3: 35 pm: Fortis (7.78%), Den Networks (5.23%), Videocon Industries (4.90%) top BSE losers.

3: 34 pm: BSE Bankex top sectoral loser, down 293 points to 28,458

3:19 pm: BSE bankex down over 1 percent or 299 points to 28,452 level. Top sector loser on the bourse.

3:12 pm: Coal India (2.58 percent), Hero MotoCorp (2.04 percent) and Cipla (2%) are the top losers on Sensex.

2: 30 pm: Swedish luxury carmaker Volvo Cars has launched the new version of its SUV XC60 priced at Rs 55.9 lakh (ex-showroom all India). The company plans to sell 2,000 units this year, a growth of 25 per cent over the last year.

2:00 pm: "A sustained rise in crude oil from these levels would pose a risk in terms of imported inflation and its attendant impact on bond yields," said Sunil Sharma, Chief Invetsment Officer at Sanctum Wealth Management.

1:45 pm: The markets regulator is "seriously" looking into the complaints about some individuals allegedly circulating key financial details and other market moving information about listed companies on social media groups before they are made officially public. Securities and Exchange Board chairman Ajay Tyagi confirmed the regulator has come to know of instances wherein price-sensitive financial data of reputed companies was leaked right before the earnings were formally made public.

1:30 pm: "Gold is likely to recover quickly from its recent lows if the U.S. Fed's  December meeting outcome proves to be a dovish hike, " Standard Chartered said in a note.

1:15 pm: November's heavy rains "created lots of damage" for perishable fruit and vegetable crops, said Rupa Rege Nitsure, group chief economist at Larsen & Toubro. "We have seen that translated into price rises for onions, tomatoes and other perishable commodities".

1:00 pm: India is the third-most optimistic nation in hiring intentions as 22 per cent of employers are expected to add more staff in the next three months while Taiwan topped the pack, says a survey. According to the survey released by leading staffing consultancy ManpowerGroup India, workforce gains were expected across all seven industry sectors monitored and in all four regions.

12:44 pm: Rupee falls as global oil prices rally. Higher oil prices spook sentiment, rupee trades at 64.46 a dollar against last close of 64.33.

12: 33 pm: Finolex Cables (6.81%), Aban Offshore (5.46%), Dr Reddy's (3.67%) top BSE gainers.

12:31 pm: Bank Nifty falls over 200 points to 25,188 level. 

12:00 PM: Indian companies raised close to Rs 51,000 crore through private placement of corporate bonds in November, a surge of 32% yoy, for business expansion and propping up working capital needs. In FY2017, the capital raked in through the route stood at Rs 6.4 lakh crore.

11:30 am: Gold exchange-traded funds (ETFs) continued to lose sheen as an investment class, with investors pulling out over Rs 500 crore from such instruments in April- November 2017, as per the latest data by AMFI. It had witnessed an outflow of Rs 775 crore in FY2017 as compared to Rs 903 crore in FY2016.

11:00 am: Oil companies fall as Brent crude oil hits a two-year high of $65 per barrel. Oil marketers Hindustan Petroleum Corp, Bharat Petroleum and Indian Oil Corporation fall over 2 percent in morning trade.

10: 45 am: State-owned lender IDBI Bank said it would sell 30 per cent stake in NSDL e-Governance Infrastructure Ltd (NEGIL). This is a part of exercise to exit from non-core business.

10:30 am: China likely to set its 2018 economic growth target at around 6.5 percent. Will leave more room for quality growth as a government deleveraging campaign is set to intensify, a policy adviser was quoted as saying on Tuesday.

10:15 am: Shristi Infra Development's September-quarter net profit rises to Rs 5.4 million versus Rs 2.1 million year ago.

9:58 am: India's economy is likely to expand by 7.2 per cent in 2018 and go up further to 7.4 per cent in the following year on the back of strong private consumption, public investment and the ongoing structural reforms, a United Nations (UN) report said.

9: 57 am: The Reserve Bank continued to remain a net purchaser of dollar in October after it bought USD 852 million in October from the spot market. Though the pace of dollar accretion slowed in October as compared to the last month.

9:56 am: Market breadth is marginally positive with 985 stocks rising against 931 falling on the BSE.

9:54 AM: Videocon Industries (4.90%), Parag Milk (2.83%), and Fortis (2.66%) are top losers on BSE.

9: 30 am: Dr Reddy's (4.11%), ONGC (2.10%), Lupin (1.14%) top Sensex gainers.

9: 20 am: Brent crude prices hit a session high of $64.85, its highest level since June 24, 2015.

9:15 am: Asian Markets mixed ahead of US  Central bank outcome tomorrow and on the back of news that Chinese banks doled out a surprising dose of credit in November.   

In Europe, markets closed on a mixed note as investors looked for cues from Fed meeting. Banking and commodity stocks outperformed the markets. ECB meeting on Thursday.   

U S markets closed higher with energy and technology stocks leading the race shrugging off the news of explosion in Times Square earlier on Monday. Dollar remained steady ahead of Fed outcome tomorrow.

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