Sensex Ends 113 Points Lower as Rail Budget Fails to Cheer Markets
3:35 p.m.: The Sensex ended 113 points lower at 22,976 and Nifty closed at 6,971, down 48 points.

3:02 p.m.: Selling pressure intensified in the last 30 minutes of trade. The Sensex fell 130 points to 22,958 and Nifty was down 52 points at 6,967.

2:49 p.m.: The markets turned flat in the late noon deals. The Sensex was down 10 points at 23,079 and Nifty fell 17 points to 7,002. Traders said sentiment was fragile ahead of the expiry of February derivatives contracts.

2:36 p.m.: Nifty 7,100 strike price call option was the most active options contract on the National Stock Exchange. The premium on the contract fell 99 per cent to 5 paise as many as 41,458 contracts were added to the open interest of 1,16,214 contracts.

2:30 p.m.: Metal stocks were witnessing buying interest. The BSE metal index was up 0.88 per cent; Hindalco, Jindal Steel and Hindustan Zinc were among the gainers.

2:08 p.m.: The market breadth was marginally negative as 1,353 stocks were declining while 938 were advancing.

2:05 p.m.: Chinese shares dived, rekindling anxiety about the impact of high market volatility on the global economy on the eve of a G20 meeting in Shanghai.

1:55 p.m.: Market expert Ajay Bagga says the rail budget 2016 is short on vision. Railway minister has not taken bold steps, he adds.

1:43 p.m.: One encouraging feature of the rail budget is focus on capital investment which needs to be accelerated and it is done in correct way, says J P Chowdhary, chairman, Titagarh Wagons.

1:24 p.m.: The railway stocks extended losses post the rail budget speech. Simplex Casting was the top loser, down 7 per cent to Rs. 68. Titagarh Wagons, Kalindee Rail Nirman, Kernex Microsystems, Hind Rectifiers, BEML and Stone India were also down 2-5.5 per cent each.

1:16 p.m.: The stock markets extended losses in the afternoon trades. The Sensex fell over 100 points to hit day’s low of 22,965 and Nifty touched low of 6,972.

1:05 p.m.: Power stocks were the worst hit in trades so far. The BSE Power index fell1.4 per cent; Power Grid, JSW Energy, Torrent Power, BHEL, Alstom T&D, ABB, CESC and GMR Infra were among the losers, down 1-5 per cent each.

12:52 p.m.: KEC International shares advance 5 per cent to Rs. 108 after the Railway Minister Suresh Prabhu proposes electrification of 2,000 km of railway lines for the next year. KEC is a complete turnkey solutions provider in the Railways Infrastructure EPC space.

12:38 p.m.: Shares of companies dealing in business of rail infrastructure were trading lower. Simplex Casting, Kernex Microsystems, Kalindee Rail Nirman, Titagarh Wagons, Hind Rectifiers and BEML were down 0.4-4.6 per cent each.

12:30 p.m.: From the Nifty-50 basket of stocks, 39 stocks were falling while 11 were advancing. Power Grida was the top Nifty loser, down 5 per cent to Rs. 132.60. GAIL India, Zee Entertainment, Yes Bank, ACC, BPCL and State Bank of India were also among the losers, dwon 1.6-3 per cent each.

12:26 p.m.: Banking stocks were witnessing selling pressure. Bank Nifty was down 0.73 per cent; Yes Bank, State Bank of India, Federal Bank, ICICI Bank, IndusInd Bank and Kotak Bank were among the top losers.

12:20 p.m.: Shares of most of the companies dealing in the business of rail infrastructure edged lower. Simplex Castings, Kalindee Rail, Hind Rectifiers, Titagarh Wagons, Kernex Microsystems and BEML declined 0.8-4.8 per cent each.

12:08 p.m.: China’s stock markets slump in trades today. The Shanghai Composite plunges 6 per cent and Shanghai Shenzen index tumbles 5.7 per cent.

12:04 p.m.: Selling pressure visible across the board, Sensex declined 59 points and Nifty fell below its crucial psychological level of 7,000.

11:53 a.m.: Railway stocks turned highly volatile ahead of rail budget announcements. Simplex Castings was the top loser from this space, down 6.6 per cent to Rs. 68. Kalindee Rail, Hind Rectifiers and Kernex Microsystems were also among the losers.

11:38 a.m.: Selling pressure visible in select banking, oil & gas, auto, power, IT and capital goods stocks. The BSE auto index was the top sectoral loser, down 0.8 per cent.

11:24 a.m.: Nifty is headed towards 6,300-6,400 levels in next couple of months and Nifty falling to 5,000-4,800 is a distinct possibility says Mithil Pradhan of Violet Arch Global Managers.

11:14 a.m.: Stone India, Texmaco, Kernex Microsystems, BEML, Simplex Castings and Titagarh Wagons jump 0.2-3.6 per cent each.

11:03 a.m.: The market breadth was neutral as 979 stocks were advancing while 887 were declining.

10:54 a.m.: Stock markets continue to trade on a subdued note. The Sensex was up 25 points at 23,114 and Nifty advanced 1 point to 7,020.

10:40 a.m.: Markets expect 20 per cent increase in capital outlay at 1.2 lakh crore from rail budget and wagon procurement is expected to rise to 18,000 from 15,000 wagons.

10:33 a.m.: Do not expect 10 per cent downside from current levels, says Nischal Maheshwari, head – institutional equities with Edelweiss Securities.

10:25 a.m.: On the sectoral front, select oil & gas, power and technology space. The BSE oil & gas index was down 0.54 per cent; Castrol India, BPCL, Petronet LNG, GAIL India, Reliance Industries and HPCL were among the losers, down 0.5-3.5 per cent each.

10:18 a.m.: Exide Industries, Marico, Bank of India, Indiabulls Housing Finance, Reliance Power, Union Bank of India, UPL and IDBI Bank were among the gainers from the mid-cap space, up 1.6-2.65 per cent each.

10:12 a.m.: Asian shares slipped on Thursday as a fragile recovery in volatile crude oil unravelled, reviving anxiety about the health of the global economy, and Chinese shares skidded.

10:06 a.m.: Fund flows in mutual funds have slowed down but the figure is still positive, says Manish Sonthalia of Motilal Oswal.

9:59 a.m.: Selloff in ITC shares enters fifth day. The stock has fallen 7.2 per cent in the last five trading sessions on expectations that the government will hike excise duty on tobacco and cigarettes.

9:52 a.m.: The broader markets were trading on a mixed note. The BSE mid-cap index was down 0.25 per cent while the small-cap index was up 0.05 per cent. Castrol India, Bajaj Finance, JSW Energy, Berger Paints, LIC Housing Finance, HPCL and Jindal Steel were among the losers.

9:41 a.m.: Just Dial shares advanced as much as 4 per cent to hit high of Rs. 572.90 its share buy-back commenced today. The company is buying back 1.4 per cent of equity at Rs. 1,550 per share.

9:33 a.m.: Shares of companies dealing with Indian Railways turned highly volatile ahead of rail budget. Hind Rectifiers, Kalindee Rail, Kernex Microsystems and Titagarh Wagons were among the losers, down 1.6-6.2 per cent each.

9:29 a.m.: The Sensex and Nifty were trading on a subdued note in the opening deals on Thursday ahead of the railway budget which will be announced later in the day.

The Sensex slipped as much as 34 points to 23,088.93 and the 50-share Nifty managed to hold its key psychological level of 7,000.

Meanwhile, shares of companies involved in business of railway infrastructure such as Texmaco, Stone India, Titagarh Wagons, BEML and Simplex Castings edged higher while Kernex Microsystems, Kalindee Rail and Hind Rectifiers slipped into the red ahead of the rail budget which will be declared later in the day.

From the Nifty-50 basket of stocks, 27 were declining while 23 were advancing.

Power Grid was the top Nifty loser, down nearly 2 per cent to Rs. 137. BPCL, Adani Ports, Ambuja Cements, NTPC, Bharti Airtel, ITC, Axis Bank and Hero MotoCorp were also among the losers.

On the other hand, ONGC, Lupin, Hindalco, Vedanta, Tata Motors, Tata Power, Bank of Baroda were among the gainers.

8:00 a.m.: The Sensex and Nifty are likely to open on a weak note in trades today tracking weak trading of Nifty futures traded on the Singapore Stock Exchange amid subdued global cues.

The Nifty futures traded on the Singapore Exchange also known as the SGX Nifty was down 0.23 per cent or 16 points at 7,008.

Shares of companies involved in business of railway infrastructure will be in focus today as Railway Minister Suresh Prabhu will present the rail budget later in the day.

Foreign institutional investors continued to offload Indian shares. The FIIs sold shares worth Rs. 730.99 crore while domestic investors bought shares worth Rs. 605.88 crore on Wednesday.

Meanwhile, Most of the Asian markets were trading on a subdued note as investors remained cautious in the face of a fragile recovery in volatile crude oil – a source of much of the recent anxiety about the health of the global economy.

Japan’s Nikkei fell 0.85 per cent and Hong Kong’s Hang Seng declined 1.15 per cent. While, China’s Shanghai Composite was up 0.9 per cent.

Overnight, US stocks mounted a late-session rally to close higher on Wednesday after an increase in oil prices helped reduce investors’ fears about banks’ vulnerability to energy companies struggling to pay their debts.

The Dow Jones industrial average rose 0.32 per cent to end at 16,484.99 points and the S&P 500 gained 0.44 per cent to 1,929.8. The Nasdaq Composite added 0.87 per cent to 4,542.61.


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