Sensex Closes 330 Points Lower At 24,287.42, Nifty Below 7,400


MUMBAI: 3:30pm: The S&P BSE Sensex closes 1.34 pct, or 329.55 points, lower at 24,287.42, while the Nifty 50 closes 1.36 pct, or 101.85 points, lower at 7,387.25.

3:20pm: The S&P BSE Sensex falls 1.64 pct, or 403.35 points, to 24,213.62, while the Nifty 50 sheds 1.66 pct, or 124.50 points, to 7,364.60.

3:15pm: The S&P BSE Sensex tanks 1.40 pct, or 344.25 points, to 24,272.72, while the Nifty 50 is down 1.37 pct, or 102.50 points, at 7,386.60.

2:30pm: The S&P BSE Sensex is now trading 17.90 points lower, or 0.07 pct down, to 24,599.07 while the Nifty is trading down 3.90 points, or 0.05 pct to 7,485.20.

2:20pm: Stocks swung between gains and losses as investors awaited the economic growth data and quarterly results from the nation’s biggest companies this week.

2:15pm: Shares of Digital marketing firm Lycos Internet is up 11.33 pct at 30.45 on BSE on news that it will acquire 100 pct stake in Austria-based mobile solutions provider TriTelA Gmbh in an all-stock transaction giving it access to cloud-based technology that can help broaden its consumer services.

2:05pm: The rupee is trading at 67.82 per U.S. dollar, down 0.25 pct, from its previous close of 67.65. The local currency touched a low of 67.87 per U.S. dollar.

1:55pm: Shares of Information technologies companies are trading lower. HCL Technologies Ltd falls 1.8 pct, TCS 1.3 pct, Infosys Ltd 0.4 pct, Wipro Ltd 0.2 pct.

1:45pm: DB Realty rises 3.3 pct to 48.80. The company said in a notice to BSE that it allotted over 7.17 crore redeemable preference shares to three of its subsidiaries pursuant to scheme of amalgamation of Gokuldham Real Estate Development Company.

1:30pm: The S&P BSE Sensex is currently trading 24.40 points higher, or up 0.10 pct, to 24,641.37 while the Nifty is trading up by 5.35 points, or 0.07 pct, to 7,494.45.

1:20pm: GVK Power and Infrastructure Ltd rises 7.3 pct to 7.81 after CNBC TV reported that GVK is set to sell up to 49 pct stake in GVK Airport Services to Singapore’s Changi Airports Group, which among others, operates the city-state’s iconic Changi Airport. The deal will likely be finalized in six months.

12:55pm: Banking stocks are trading higher on the back of higher volumes. Bank of India jumps 8 pct, Uco Bank 6.8 pct, Canara Bank 6.4 pct, OBC up 6.2 pct, Allahabad Bank 5.6 pct, Union Bank of India 5.3 pct, Dena Bank 4.8 pct, State Bank of India 5 pct, Bank of Baroda 4.4 pct, Corporation Bank 4.2 pct, Axis Bank 4.1 pct, Indian Bank 4 pct, Indian Overseas Bank 3.8 pct, Andhra Bank 3.5 pct, Syndicate Bank 3.4 pct, IDBI Bank 3.2 pct.

12:45pm: PTC India Financial Services Ltd rises 6 pct to 36.25 ahead of its December quarter earnings. According to Bloomberg estimates, the company may post net profit of 57.80 crore on net sales of 111.90 crore.

12:35pm: Geometric Ltd rises 5.5 pct to 159.65 after the company said its net profit jumped 77 pct in December quarter to 28.96 crore as compared to 16.37 crore a year ago.

12:20pm: The S&P BSE Sensex is currently trading 36.08 points higher, or up 0.15 pct, to 24,653.05 while the Nifty is trading up by 12.90 points, or 0.17 pct, to 7,502.

12:10pm: Procter and Gamble Hygiene and Healthcare Ltd rises 6.5 pct to 5,841.05 after the company reported 61.81 pct increase in December quarter to 146.70 crore as compared to 90.66 crore a year ago.

12:00pm: Among the Sectoral indices, BSE Metal Index was the top sectoral gainer up 1.3 pct followed by BSE Basic Materials, which was up 0.8 pct. BSE Telecom, Bankex were up 0.6 pct each. BSE Consumer Discretionary goods and services, energy, finance, capital goods are up 0.4 pct each.

11:50am: Tata Motors Ltd falls 2.1 pct to 330.10 after Business Standard reported that the company has declared a lockout at its bus manufacturing plant in Karnataka’s Dharwad, following a continued strike by workers.

11:40am: DLF Ltd rises 4.1 pct to 99.80 after PTI reported that Blackstone, GIC, Canada Pension Plan and Qatar Investment Authority are among the 25 global investment firms that have shown interest in buying DLF promoters’ stake in its rental arm, a deal estimated at about $2 billion

11:20am: Balrampur Chini Mills Ltd rises 2.7 pct to 89.20 ahead of its December quarter earnings. According to Bloomberg estimates, the company may post net loss of 28.65 crore on net sales of 746.40 crore.

11:05am: The S&P BSE Sensex pares initial losses and is currently trading 63.55 points higher, or 0.26 pct up, at 24,680.52 while the Nifty is trading up by 16.55 points, or 0.22 pct, to 7,505.65.

10:50am: Steel companies were trading higher after India imposed a minimum import price on steel products to help stem a surge in cheaper shipments coming from overseas. Minimum prices for inbound shipments range from $341 a metric ton to as much as $752 per ton across various grades of steel, the commerce ministry said in a statement on Friday. Tata Steel Ltd rises 2.3 pct, Bhushan Steel Ltd rises 9 pct, JSW Steel 2.7 pct, SAIL 2.5 pct.

10:40am: Tata Power Ltd falls 2.3 pct to 59 after the company reported an 87.6 pct fall in consolidated net profit for the quarter ended 31 December, missing analysts’ expectations. Net profit for the third quarter of the current fiscal fell 87.6 pct to 24.46 crore from 197.74 crore in the year ago quarter. Total consolidated income from operations rises about 9.4 pct to 9,329.27 crore from 8,528.40 crore a year ago.

10:30am: Sobha Ltd falls 5.2 pct to 270.40 after the company posted a 46.5 pct decline in its December quarter net profit to 32.1 crore from a year ago.

10:20am: Astrazeneca Pharma India Ltd rises 5.4 pct to 1,225 after the company posted a net profit of 8.67 crore in December quarter as compared to net loss of 13.41 crore a year ago.

10:10am: Claris Lifesciences Ltd falls 7.3 pct to 162 after the company reported a net loss of 68.87 crore in December quarter as compared to net profit of 89.85 crore a year ago.

9:55am: The 30-share S&P BSE Sensex falls 47.66 points, or 0.19 pct to 24,569.31, while the Nifty 50 of the National Stock Exchange (NSE) is down 13.50 points, or 0.18 pct, to 7,475.60.

9:50am: Jet Airways India Ltd rises 7.73 pct to 615 after the company reported third consecutive profitable quarter in a row and posted highest ever quarterly profit as the country’s second largest airline by passengers carried benefited from lower fuel prices, higher traffic and increased aircraft utilisation. The airline’s profit soared by more than 7 times at 467.11 crore in the three months ended December, compared with a profit of 63.11 crore in the year-ago quarter.

9:40am: India’s GDP data for the third quarter (October-December) of 2015-16, to be released on Monday, will be a crucial input into the budget to be presented by finance minister Arun Jaitley on 29 February.

9:35am: The rupee weakens against the U.S. dollar, trading at 67.84 per U.S. dollar, down 0.27 pct, from its previous close of 67.65.

9.30am: The yield on India’s current 10-year benchmark bond stands at 7.828 pct compared with its Friday’s close of 7.821 pct.

9:25am: Crude oil futures slipped in thin trade, but were underpinned by glimmers of hope for steps by oil producers to address the global supply glut that has led to recent steep selloffs. Brent crude was down 0.4 pct at $33.91 a barrel, while U.S. crude futures shed about 0.2 pct to $30.84.

9:20am: The dollar edges up about 0.1 pct to ¥116.96, moving away from Friday’s 2-1/2 week low of 116.285 in a week in which it logged a 3.6 pct slide, its biggest weekly drop since July 2009.

9:10am: MSCI’s broadest index of Asia-Pacific shares outside Japan is down 0.2 pct, with Australian shares slipping 0.3 pct. Japan’s Nikkei skids 1.2 pct in early trade.

9:00am: Asian shares got off to a rocky start on Monday after mixed U.S. jobs data helped sink shares on Wall Street, but trade was thin with many regional markets closed for the Lunar New Year holiday.

8:50am: On Wall Street, major U.S. indexes logged both daily and weekly losses. The Nasdaq Composite led session losses, plunging 3.25 pct after a spate of disappointing forecasts from the technology sector.

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Source: PTI