Falling for the third straight session, the BSE benchmark Sensex today plunged by 260 points to close at nearly three-week low of 25,329.14 on selling pressure sparked by escalating geopolitical tensions after US President Barack Obama authorised air strikes in Iraq.
The rupee slumping to five-month low of 61.74 (intra-day) against the US dollar and rising global crude prices too impacted the trading sentiment.
After opening lower at 25,406.87, the 30-share Sensex dipped to 25,232.82 at one point before ending the day at 25,329.14, down 259.87 points or 1.02 per cent, from its previous close.
The BSE barometer had lost 319 points in the previous two sessions.
The 50-share NSE Nifty dipped below the 7,600 mark by plunging 80.70 points, or 1.06 per cent, to end at 7,568.55.
Brokers said sentiments turned weak on foreign capital outflows that took weak cues from on worsening geopolitical tensions and the rupee slumping to five-month low amidst rising crude oil prices.
Globally, major stocks markets in Asia fell in the range of 1-2 per cent, while most of the European markets were down over 1 per cent in early trade as global sell-off spread.
Extending downtrend for the third consecutive day, Bhushan Steel shares slumped 10 per cent to hit its lowest trading permissible limit for the day of Rs 219.35 on the BSE after the CBI arrested Neeraj Singal, Vice Chairman and Managing Director of the company, in connection with Rs 50 lakh bribery scandal involving Syndicate Bank.
D-Street highlights @ 3:30 pm
I-T Dept Sources: Alert: ABMCL is Aditya Birla Mgmt Corp, Group's Think Tank
I-T Dept Sources: Alert: Cash seized matter was referred to ED & I-T Dept
I-T Dept Sources: Alert: Money seized in CBI raid post FIR against Hindalco
I-T Dept Sources: Alert: Unaccounted Rs 25 cr seized from Hindalco office in 2013
I-T Dept Sources: Clean chit to have positive impact on cases against Hindalco
I-T Dept Sources: Senior executive from AV Birla Group claims it was his money
I-T Dept Sources: Rs 25 cr recovered from premises of ABMCL, Birla group Think Tank
Sources Say: Alert: Rel Jio paid ?1,658cr for Unified licence in Aug 2013
Sources Say: Alert: SUC is Spectrum User Charge paid by telcos annually
Sources Say: Alert: CAG raised concern on spectrum allocation in BWA
Sources Say: Fin Min objected in Oct '13 on Rel Jio paying 1% AGR as SUC
Sources Say: CAG says loss in exchequer if Rel Jio pays just 1% AGR as SUC
Sources Say: CAG raises fresh concern on Rel Jio spectrum allocation case
EARNINGS REPORT: Munjal Auto Q1 sales ?230.3 cr vs ?193.7 cr, up 19% YoY
EARNINGS REPORT: Munjal Auto Q1 PAT ?11.3 cr, unchanged YoY
SBI Says: Expect a credit growth of 15% in current fiscal
SBI Says: No new projects are coming in for financing
JSW Steel: July flat rolled products output at 8.95 lk tn vs 7.96 lk tn YoY
EARNINGS REPORT: Nava Bharat Q1 PAT ?56.2 cr vs ?50.4 cr, up 11.5% YoY
SBI Says: Slippages are traditionally highest in Q1
@ 2 pm
M&M Says: Weak monsoon to impact inflation, consumer demand
M&M Says: Outlook on the economy in the short-term remains cautious
M&M Says: Any escalation of geopolitical conflict can have adverse impact
Cabinet Secretary stressed Govt's resolve to meet fiscal deficit aim
Cabinet Secretary rules out revising FY ministerial budgets
Pfizer MD To ET NOW: Considering sale of Thane plant post lockout
Siemens India to sell metals tech biz for Rs 857 cr to parent unit
Siemens India wins order worth Rs 228cr from RIL for steam turbines
State Bank of India: Q1 Write off at Rs 6,556 cr vs Rs 5,698 cr QoQ
State Bank of India: Q1 Provision coverage ratio at 62.68% vs 62.86% QoQ
State Bank of India: Q1 Advances at Rs 12.8 lk cr, up 20.7% YoY
State Bank of India: Q1 PAT Rs 3,349 cr, Up 3.3% YoY SBI Price:2429.4 Change: -6.7 Percent Change: -.28%
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