Sensex down 100 points; Nifty above 11,450

CNBC

Market at Close: A good recovery in the last hour has helped the market close with shallow cuts. The Sensex managed to recover over 250 points from its low point, while the Nifty shed about 70-odd points from its low point. Both indices closed in the red. 

The recovery was led by automobile names, courtesy a good rally in Tata Motors. The stock rallied after its August JLR sales were stellar and helped in boosting auto names. There was a recovery in the metals segment as well, while pharmaceuticals, the sole gainer through the morning and afternoon, strengthened its position to end in the green. The Nifty Pharma and metal index were higher by a percent.  
Among broader markets, the midcaps managed to end the day with a fall of around one-third of a percent. It had declined over a percent in the morning. 
At the close of market hours, the Sensex is down 139.61 points or 0.37% at 38018.31, while the Nifty is down 43.30 points or 0.38% at 11477.00. The market breadth is negative as 1,053 shares advanced, against a decline of 1,680 shares, while 180 shares were unchanged.
Buzzing: Shares of Varroc Engineering slipped 5.7 percent intraday Wednesday despite company reported marginally better number for the quarter ended June on YoY basis.
The company's Q1FY19 (April-June) consolidated net profit was up 2.1 percent at Rs 100.4 crore against Rs 98.4 crore, in the same quarter last fiscal. Revenue rose 25.4 percent at Rs 2,927 crore versus Rs 2,335 crore.
Operating profit or EBITDA was up 5.6 percent at Rs 224.6 crore and margin was at 7.7 percent.
Market Outlook: “The RBI is caught in the noise and letting the rupee have a freefall. With USD 400 billion of reserves, there should be some action to instill confidence. The market, on the other hand, has shown extreme resilience. As such, it was very top-heavy earlier and this kind of a correction is inevitable. Amazon has hit USD 1 trillion market cap, and we could be looking at stories in India which will hit USD 100 billion next,” Sanjiv Bhasin, EVP-Markets and Corporate Affairs at IIFL told Moneycontrol.
Market Update: A weak rupee has spooked investors on D-Street, with the Indian currency falling to fresh lows on Wednesday. It touched 71.97 per US dollar. This has affected sentiment for investors as the Sensex fell over 350 points, while the Nifty was hovering near 11,400-mark as well.  
There’s all-round selling visible among major sectors such as banks, automobiles, energy, FMCG, infrastructure as well as metal names. Midcaps are also seeing a lot of weakness, with the Nifty Midcap index falling 2 percent.
Among stocks, Wipro and Yes Bank are the top gainers, while HU, Bharti Airtel, Bharti Infratel and Zee Entertainment have lost the most. 
The Sensex is down 374.96 points or 0.98% at 37782.96, while the Nifty is down 122.10 points or 1.06% at 11398.20. The market breadth is negative as 676 shares advanced, against a decline of 1,868 shares, while 165 shares were unchanged.
Market Update: With further depreciation in the rupee, along with higher crude prices, the market has plunged to the day’s low points. The Sensex is down over 250 points, while the Nifty is down almost 100 points. It is trading well below 11,500.
The Sensex is down 262.22 points or 0.69% at 37895.70, while the Nifty is down 95.30 points or 0.83% at 11425.00. The market breadth is negative as 664 shares advanced, against a decline of 1,791 shares, while 149 shares were unchanged.
Intense selling is visible among midcaps, along with other sectors such as banks, auto, energy, FMCG and metal names. Pharmaceuticals, too, have turned negative, falling over quarter of a percent.  
Yes Bank and Wipro are the top gainers, while Tata Motors, HUL, Bharti Infratel and Indiabulls Housing have lost the most.   
Market Update: With further depreciation in the rupee, along with higher crude prices, the market has plunged to the day’s low points. The Sensex is down over 250 points, while the Nifty is down almost 100 points. It is trading well below 11,500.
The Sensex is down 262.22 points or 0.69% at 37895.70, while the Nifty is down 95.30 points or 0.83% at 11425.00. The market breadth is negative as 664 shares advanced, against a decline of 1,791 shares, while 149 shares were unchanged.
Intense selling is visible among midcaps, along with other sectors such as banks, auto, energy, FMCG and metal names. Pharmaceuticals, too, have turned negative, falling over quarter of a percent.  
Yes Bank and Wipro are the top gainers, while Tata Motors, HUL, Bharti Infratel and Indiabulls Housing have lost the most.  
Rupee Update: After witnessing a positive opening, the rupee has resumed its downward momentum, and hit a fresh record low of 71.97 per US dollar.
The currency had opened higher by 18 paise at 71.40 per dollar against its previous close 71.58. It plunged 37 paise to end at a record low of 71.58 on Tuesday.
“The rupee continues to make a new record low on account of crisis in the emerging market currencies. Further consistent rise in the crude oil prices and dollar index has kept sentiments bearish. There are talks of rupee moving towards 72-73 levels hence there is lot of speculative dollar buying in the market which is driving the currency lower every day,” Rushabh Maru - Research Analyst at Anand Rathi Shares and Stock Brokers said in a statement.
Market Update: Selloff in midcaps along with banks, auto, infra, FMCG, energy and metals, among others, are dragging the market to low points of the day. The Nifty midcap index is down over a percent.  
Weak rupee as well as bullish crude prices are adding to the woes of the market. The currency managed to touch another record low of 71.79 US per dollar. 
The Sensex is down 132.40 points or 0.35% at 38025.52, while the Nifty is down 49.80 points or 0.43% at 11470.50. The market breadth is negative as 775 shares advanced, against a decline of 1,567 shares, while 139 shares were unchanged.
Buzzing: Shares of Strides Pharma Science rose 3 percent as company received United States Food & Drug Administration (USFDA) approval for Potassium Chloride extended release tablets.
The company's step-down wholly owned subsidiary, Strides Pharma Global Pte., Singapore, has received approval for Potassium Chloride Extended Release Tablets USP, 8 mEq (600 mg) and 10 mEq (750 mg) from the USFDA.
Potassium Chloride Extended-Release tablets is a generic version of Klor-Con Extended Release Tablets of Upsher-Smith and Strides is the first Indian generic company to receive this approval.
CRISIL withdraws D rating for Reliance Infrastructure's NCDs: Shares of Reliance Infrastructure added 2 percent intraday Wednesday after rating agency CRISIL withdrawn its D ratings for company's NCDs of totalling Rs 710 crore.
The company has repaid the NCDs from the funds received from the sale of Integrated Mumbai Distribution Business to Adani Transmission.
Earlier, BWR has withdrawn its D rating for the NCDs amounting to Rs 418.70 crore and BWR C for the NCD amounting to Rs 50 crore of Reliance Infrastructure.
Rupee extends losses: After witnessing a positive opening, the rupee has resumed its downward momentum, and hit a fresh record low 71.72.
The currency had opened higher by 18 paise at 71.40 per dollar against its previous close 71.58. It plunged 37 paise to end at a record low of 71.58 on Tuesday.
“The rupee continues to make a new record low on account of crisis in the emerging market currencies. Further consistent rise in the crude oil prices and dollar index has kept sentiments bearish. There are talks of rupee moving towards 72-73 levels hence there is lot of speculative dollar buying in the market which is driving the currency lower every day,” Rushabh Maru - Research Analyst at Anand Rathi Shares and Stock Brokers said in a statement.
Market Update: The market is witnessing a lot of volatility as benchmarks see wild swings between positive and negative territory. These are currently trading in the red after seeing some recovery minutes ago. 
Selloff in banks, FMCG, metals as well as names in the midcaps space are weighing on indices. Higher crude oil prices as well as a bearish rupee continue to spook investors. 
Among stocks, oil marketing companies such as HPCL and BPCL have hit fresh 52-week lows on the back of crude surge, while Shares of Fortis Healthcare fell about 1.5 percent after founder Shivinder Singh moved the National Company Law Tribunal (NCLT) against his elder brother Malvinder Singh.
The Sensex is down 39.34 points or 0.10% at 38118.58, while the Nifty is down 18.30 points or 0.16% at 11502.00. The market breadth is negative as 733 shares advanced, against a decline of 1,105 shares, while 115 shares were unchanged.
OMCs trade lower: Shares of oil marketing companies fell over a percent, with HPCL and BPCL hitting fresh 52-week lows, as crude oil prices move upwards. The Brent crude is hovering close to USD 80 per barrel and this has impacted sentiment among investors.
The likes of HPCL, BPCL and IOC were all down 1 percent.
Higher crude oil prices imply a hit on oil marketing companies’ revenues as their input costs rise. A weaker rupee adds as a double whammy to such companies.
“For companies like BPCL and HPCL, crude oil is a raw material which they will have to buy at the higher price and their final selling products are various refined products like petrol, diesel etc. The prices of these refined products may not necessarily increase by the same proportion as of the crude oil. As a result, the refining companies will start losing money,” explained Ritesh Ashar, Chief Strategy Officer at KIFS Trade Capital in an earlier interaction with Moneycontrol.
Market opens: It’s a flat start to the market on Wednesday morning, even as tepid global cues and a strengthening dollar weighing on investors’ concerns. The Nifty is trading below 11,550 range. 
The Sensex is down 19.23 points or 0.05% at 38138.69, while the Nifty is up 1.70 points or 0.01% at 11522.00. The market breadth is narrow as 271 shares advanced, against a decline of 245 shares, while 63 shares were unchanged.
Weakness in the metals space has continued, with the Nifty Metal index falling over a percent, while auto and banks are trading in the red. Pharmaceutical names are the big gainers. The Nifty Midcap index is lower, down around 0.20 percent.  
Globally, the market has been jittery as Facebook and Nike dragged US markets, while Asian markets too are wary of  
Rupee opens: The Indian rupee opened higher by 18 paise at 71.40 per dollar on Wednesday versus previous close 71.58.
Yesterday the rupee plunged by 37 paise to end at a record low of 71.58 against Monday's closing 71.21 per dollar.
Rupee continued its record fall for the fifth straight session against US dollar.
On Tuesday, rupee managed to open on positive note but after witnessing wide swings, it finally closed at its historic low of 71.58.
Market at pre-open: On the pre-opening rates, equity benchmarks are trading higher on Wednesday morning. The Nifty is trading below 11,550. 
At 09:02 hrs IST, the Sensex is up 86.27 points or 0.23% at 38244.19, and the Nifty up 6.10 points or 0.05% at 11526.40.
Global markets are currently in the red, with a further strengthening in the dollar. This could keep D-Street is in focus. 
The Indian rupee has opened at 71.40 per US dollar.