MUMBAI: World markets including domestic equity bourses declined on Wednesday, as investors feared fresh rate cuts in China may not be enough to stabilize its slowing economy or halt a stocks collapse that is wreaking havoc in global markets. The key benchmark index BSE Sensex slid 317.72 points at 25,714.66 on Wednesday. NSE Nifty plunged 88.85 points at 7,791.85.
In the 50-share Nifty index, Tech Mahindra, Hero MotoCorp, Ambuja Cements, HDFC and Bank of Baroda declined the most.
Asian peers, Shanghai Composite Index and Hang Seng dipped 1.27 percent and 1.52 percent at 2,927.29 and 21,080.39.
Europe’s main stock markets, which had surged on Tuesday after China’s moves, reopened 2 percent down as the jittery mood returned and sent investors back into safe-haven German and U.S. government bonds.
3.17 pm: Edelweiss Financial Services was trading firm after its subsidiary Edelweiss Tokio Life Insurance got necessary approval from FIPB to increase its FDI cap. Shares of Edelweiss Financial Services were trading 1.39 percent higher at Rs 54.85.
According to market experts, equity markets may remain volatile in the near future as traders may roll over positions in the Futures & Options (F&O) segment from the near month i.e. August 2015 series to next month i.e. September 2015 series. The near month August 2015 derivatives contracts will expire on Thursday this week.
3.09 pm: Domestic equity markets continued their weak trade in the late afternoon session on account of selling in blue chip counters. Sensex was down 314 points at 25,718. In the 30-share Sensex pack, HDFC and Hero MotoCorp were down over 3 percent.
2.06 pm: The BSE Midcap index and BSE Smallcap index were up 0.20 percent and 0.72 percent, respectively. Sensex was down 92 points at 25,939.
1.49 pm: Markets are showing choppiness, after recovering from the initial fall and gradually moving back to the highest point of the day, the major indices have once again flattened out. Sensex and Nifty were down 0.05 percent and 0.07 percent at 26,020 and 7,885.
1.25 pm: NSE Nifty was down 24 points at 7,856.
12.48 pm: Among the sectoral indices on the Bombay Stock Exchange, the BSE IT index was up around 0.99 percent at 11,105. Sensex was down 144 points at 25,888.
12.19 pm: Sensex was down 128 points at 25,903.
11.31 am: Indian Oil Corporation (IOC) shares gained over 4 percent in the morning trade on Wednesday after the oil marketing company on Tuesday (post market hours) informed stock exchanges that it has signed memorandum of understanding (MoU) with Nepal Oil Corp (NOC) to lay a Rs 275-crore oil pipeline from Raxaul in Bihar to Amlekhgunj in Nepal. The scrip was trading 4.56 percent higher at Rs 412.75. Sensex was up 81 points at 26,113.
10.37 am: Sensex was up 37.80 points at 26,070.18. Nifty was up 22.05 points at 7,902.75
10.18 am: The BSE Sensex and NSE Nifty were down 80 points and 10 points at 25,951 and 7,870, respectively. The BSE Bankex was down 0.57 percent at 19,613.
9.28 am: In the 50-share Nifty pack, Vedanta, Dr Reddy’s Laboratories, Tata Motors were down 2.26 percent, 2.19 percent and 1.73 percent, respectively.
9.27 am: Indian rupee up 12 paise at 66.16 against dollar.
9.24 am: Asian peers, Shanghai Composite index and Hang Seng were up 0.80 percent and 0.09 percent at 2,988.76 and 21,424, respectively.
9.21 am: The BSE Sensex was down over 300 points at 25,720. NSE Nifty was down 81 points at 7,799.
9.15 am: Domestic equity markets opened on a flat note on Wednesday. The BSE Sensex opened 30.89 points higher at 26,063.27. NSE Nifty opened 15.45 points lower at 7865.25.
Shares of capital goods, information technology and healthcare opened in green.
Domestic equity markets on Tuesday opened with a positive gap and later it made a low at 7,667 due to weak Chinese market condition and finally closed on the positive territory due to extreme short term oversold situation, support from both DII and retailers and positive European cues. The 30-share Sensex and 50-share Nifty closed 1.13 percent and 0.92 percent higher at 26,032.38 and 7,880.70, respectively.
