BSE Sensex trades lower by 100 points, while the Nifty 50 slips below 11,450. Here are the latest updates from the markets

Benchmark indices BSE Sensex and NSE’s Nifty 50 halted their record breaking run and traded lower on Friday as global stocks came under pressure after latest geopolitical tensions. Asia stocks declined, while the yen climbed as investors assessed the impact of the latest tit-for-tat in the US-China trade war as well as US sanctions on Russia. Oil markets were torn between concerns that the trade war would stall economic growth, while US sanctions against Iran were expected to tighten supplies. Meanwhile, FIIs purchased equities worth Rs 370.68 crore net on Thursday, whereas DIIs sold Rs 85.39 crore of shares, provisional data showed. Moreover, the government will release IIP data for June.

11.35 am IST
BPCL, HPCL: Q1 results don’t move the needle, subsidy sharing concerns loom
The lack of clarity on the subsidy sharing mechanism is discouraging and expected to weigh on the sentiments for these stocks

11.20 am IST
Rupee to trade near record low over coming year: Reuters poll
India’s battered rupee will trade in a tight range in the coming year but not far from its historic low, hampered by higher oil prices and as trade tensions hurt emerging markets, a Reuters poll found. The Indian currency has lost over 7% this year, with worries over the US-China trade conflict pushing it to a new record low of 69.122 against the dollar in July, making it the worst performing Asian currency. Taken after the Reserve Bank of India hiked rates to a two-year high on 1 August, the latest poll of about 40 foreign exchange analysts showed the rupee is now expected to trade at 68.22 per dollar in a year from about 68.60 on Thursday.

10.50 am IST
Eicher Motors shares rise 3.7% after Q1 results
Eicher Motors shares jumped as much as 3.76% to Rs 28,518.10 after the company on Thursday reported a 25.36% rise in consolidated net profit to Rs 576.18 crore for the quarter ended 30 June, compared to Rs 459.62 crore a year ago. Consolidated total revenue from operations stood at Rs 2,547.75 crore for the quarter, compared to Rs Rs 2,254.94 crore in the year-ago period.

source: livemint.com