A man looks up at an electronic screen displaying stock figures at the Bombay Stock Exchange (BSE) in Mumbai, India. (Photographer: Vivek Prakash/Bloomberg)

Sensex, Nifty Post First Quarterly Loss Since December 2016

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Closing Bell

Indian equity benchmarks edged lower weighed down by weakness in heavyweights like Reliance Industries, ICICI Bank, ITC and Infosys.

The S&P BSE Sensex fell 0.6 percent or 205.71 points to 32,968.68 and the NSE Nifty 50 index tumbled 0.69 percent or 70.45 points to 10,113.70.

The benchmarks posted their first quarterly loss since Dec. 2016, and retreated from record high hit on Jan. 29, as investor sentiment took a knock after a fraud worth Rs 12,000 crore surfaced at India's second largest public-sector lender — Punjab National Bank.

In January-March quarter, the Sensex plunged 3.2 percent and Nifty slumped 3.96 percent.

In today's trade, seventeen out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Telecom index's 2.6 percent drop. On the flipside, the S&P BSE Consumer Durables index was the top sectoral gainer, up 0.2 percent.

Sensex, Nifty Post First Quarterly Loss Since December 2016

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Bosch India Surges On Heavy Volumes

Shares of the Bangalore-based auto parts maker rose as much as 4.7 percent to Rs 18,515 on the back of heavy volumes. Trading volume was 7.2 times its 20-day average.

Fab Four Stocks Of The Day

  • Kakatiya Cement: The Andhra Pradesh-based cement and sugar maker rose as much as 18 percent, the in seven months, to Rs 267 after Central Pollution Control Board (CPCB) revoked closure order for company’s cement plant.
  • Meera Industries: The Surat-based textile twisting technology and machine maker was locked in a five percent upper circuit at Rs 201 after it received an export order of $575 lakh from a yarn manufacturing company from Indonesia.
  • Avanti Feeds: The Hyderabad-based shrimp feed maker rose as much as 2.81 percent to Rs 2,256 after it completed commercial production of the additional capacity of 1,75,000 million tonnes of shrimp feed at Bandapuram plant in Andhra Pradesh.
  • Mahindra Holidays: The Chennai-based hospitality service provider rose nearly 9 percent to Rs 298 9 on the back of heavy volumes. Trading volume was 16 times its 20-day average.

India’s Fiscal Deficit Reaches 120% Of Revised Full-Year Target

  • April-Feb. total receipts at Rs 12.8 lakh crore.
  • April-Feb. tax revenue at Rs 10.4 lakh crore.
  • April-Feb. total expenditure at Rs 19.9 lakh crore.
  • April-Feb. tax receipts account for 79.1 percent of FY18 estimate.
  • The finance minister while presenting the budget had raised the fiscal deficit estimate to Rs 5.95 lakh crore for FY17-18.

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Source: Finance Ministry

Block Deal Alert

  • Bank of Baroda has 7.32 crore shares change hands at Rs 141.80 per share on BSE.

Buyers and sellers were not immediately known

Source: Bloomberg