The Sensex and Nifty extended losses in afternoon trade tracking weak Asian markets which were hit by a plunge in high-flying technology companies, with MSCI's broadest index of Asia-Pacific shares outside Japan down as much as 1.41 percent. The market was also nervous ahead of the futures and options expiry later in the day. While the Sensex was down 455 points to 33,147 level and the Nifty was down 134 points to 10,226 level. Here are the key highlights, which affected the market today.
3: 30 pm: Kotak Mahindra Bank (2.63%), SBI (2.54%) and Reliance Industries (2.42%) were the top losers on the Sensex.
3:25 pm: Of 30 Sensex stocks, only Dr. Reddy's (0.45 percent) and NTPC (0.36 percent) closed in the green.
2:25 pm: Rupee pares gains, trades at 64.51 a dollar against last close of 64.32.
2:20 pm: Sensex trims some early losses, trades 200 points down at 33,400.
2:10 pm: Govt has stepped up infra spending, earmarked Rs 3.96 lakh crore this year, says FM
2:00 pm: India has structurally reformed; there is no finishing line in reforms, says FM Jaitley
1:50 pm: 10% growth rate is a very challenging; it will not depend on domestic factor but on how the world is moving, says FM Arun Jaitley
1:45 pm: India will need Rs 50 lakh crore investment in next 5 years, says FM Jaitley
1: 40 pm: Reliance General Insurance Company, part of Anil Ambani-led Reliance Group, said it has received markets regulator Sebi's go ahead to float an initial public offering. The IPO comprises fresh issue of little over 1.67 crore shares by Reliance General Insurance besides an offer for sale of 5.03 crore shares by Reliance Capital.
1:35 pm: Finance Minister Arun Jaitley says infrastructure, rural India to be focus in the upcoming Budget.
1:30 pm: The Future Group's logistics arm, Future Supply Chain Solutions, has fixed a price band of Rs 660-664 for its Rs 650-crore initial public offering (IPO) that opens on December 6. The issue, which is a mix of fresh issuance of shares by promoters--Future Enterprises--which will lead to a dilution of 4.43 per cent of their stake, as well as an offer-for-sale by private equity investor Griffin Partners aggregating to 20 per cent of equity.
1:01 pm: Bank Nifty falls 276 points or 1.07 percent to 25,519 level.
12:41 pm: Market breadth is negative with 1,061 stocks rising against 1,391 falling on the BSE.
12: 35 pm: Reliance Industries (2.05 percent), Kotak Mahindra Bank (1.77 percent), Tata Motors (1.80 percent) top losers on the Sensex.
12:30 pm: "Markets are at quite a high level in terms of valuations; so some amount of correction is normal to expect," said Deepak Jasani, head of retail research at HDFC Securities.
11:50 am: BSE bankex falls over 1 percent at 11:51 am.
11:13 am: Sensex extends losses, down nearly 260 points at 11:13 am with 27 components in the red.
10:00 am: GDP data for Q2 to be announced after market hours today.
M&M: Mahindra & Mahindra said it would increase holding in its arm Mahindra & Mahindra Financial Services Ltd (MMFSL) to 53.25 per cent through acquisition of 2.5 crore shares for a cash consideration of Rs 1,055 crore.
YES Bank: Private sector lender Yes Bank said its board has approved proposal to set up MTN programme to raise $1 billion (about Rs 6,500 crore) on private placement basis. The Medium Term Note (MTN) programme, an instrument to raise money through debt securities that typically matures in 5-10 years, is within the overall borrowing limit of Rs 20,000 crore, the bank said.
DLF: India's largest realty firm DLF plans to raise around Rs 3,500 crore through sale of shares to institutional investors and the proceeds will be used to cut its net debt. A board meeting has been called on December 1 to approve the proposals to issue shares through qualified institutional placement (QIP) and warrants or debentures to promoters. DLF is required to launch QIP and also issue of warrants or debentures because of proposed infusion of about Rs 10,500 crore by promoters into the company.
SBI: The lender has raised interest rates by 100 bps on bulk deposits between Rs 1 crore and Rs 10 crore from November 30. It has also hiked interest rates by 100 bps on bulk deposits above Rs 10 crore from November 30.
Infosys: The firm's Rs 13,000 crore buyback offer opens today, closes on December 14.
Aurobindo Pharma: The pharma firm gets tentative US FDA nod for Tadalfil tablets.
Lakshmi Vilas Bank: The bank has set 1-year MCLR at 9.20 percent with effect from December 1.
9:44 am: Banking stocks lead the fall. BSE bankex down 175 points at 29004 level. Of 10 components, 9 trading in the red with Bank of Baroda (0.38 percent) the sole gainer on the index.
9: 20 am: Rupee opens at 64.53 a dollar as against the Wednesday close of 64.32
9:18 am: Of 30 Sensex stocks, 26 are trading in the red. Sun Pharma (0.82 percent), Bajaj Auto (0.56 percent), Dr Reddy's (0.31 percent) top gainers.
9:15 am: MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.9 percent, with technology bellwether Samsung Electronics falling 2.9 percent to two-month lows and Taiwan's TSMC down 1.9 percent. Japan's Nikkei dipped 0.1 percent, led by a 2.0 percent fall in electronic machinery makers.
Financial sector is in limelight as South Korea's central bank interest rate decision is scheduled later in the day and as Australian government is said to launch an inquiry into their financial sector. In Europe, markets closed higher except Swiss market as sterling rose against US dollar.
Britain and EU has reportedly reached a deal on Brexit divorce bill. On Wednesday, ECB warned that there are concerns linked to a sudden rise in volatility.
DOW closed at record high as investors expect economy to continue with the ongoing momentum. The second estimate for 3Q GDP was revised to 3.3% from 3% which also supported the markets.
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