Sensex Ends Subdued Session Marginally Higher

Sensex Ends Subdued Session Marginally Higher
3:46 p.m.: The Nifty edged lower in trades on Wednesday as investors booked profits ahead of quarterly results.

3:11 p.m.: Cabinet approves 15 per cent stake sale in NBCC, shares plunge 9.5 per cent to Rs. 233.50.

3:03 p.m.: Investors should book profits and sit on cash as the rally in stock markets is overdone, says Sanjiv Bhasin of IIFL.

2:38 a.m.: Real estate stocks witness selling pressure. BSE Realty index falls 2.2 per cent; Indiabulls Real Estate was the top loser from this space, down 8.4 per cent to Rs. 87.70. NBCC, HDIL, Omae, DLF, Godej Properties, Unitech and Phoenix Ltd were also among the losers.

2:30 p.m.: Stock markets continue to trade on a subdued note. Sensex trades 16 points higher at 27,823 and Nifty down 2 points to 8,520.

2:09 p.m.: Metal shares continue to witness buying interest. The BSE Metals index surges 2 per cent; Tata Steel was the top gainer from this space, up 4 per cent to Rs. 356. Vedanta, SAIL, JSW Steel, Coal India, NMDC and Hindalco were also among the gainers.

1:49 p.m.: Shares of Ruchi Soya Industries slumped as much as 9 per cent today to Rs. 21.25 after the company said that it has been “served with a copy of winding up petition filed by one of its creditors before the Bombay High Court”.

Ruchi Soya said it will take “appropriate legal recourse in the matter.”(Read)

1:28 p.m.: Market breadth remains negative as 1,677 stocks fall while 902 advance.

1:18 p.m.: Banking stocks were witnessing some profit-booking. The Bank Nifty slipped 0.25 per cent or 52 points to 18,615; Federal Bank was the top loser from this space, down 2 per cent to Rs. 61.20. Bank of India, IndusInd Bank, Axis Bank, Punjab National Bank, Canara Bank, Yes Bank and Bank of Baroda were also among the losers, down 0.7-1.8 per cent each.

1:10 p.m.: As per reports, government has proposed to divest stake in NBCC. Shares plunge 6 per cent to Rs. 242.

12:53 p.m.: Nifty 8,500 strike price put option was the most active options contract on the NSE. The premium on the contract jumped 14 per cent to Rs. 89.45. As many as 3.28 lakh shares were added to the open interest of 4.02 million shares.

12:18 p.m.: Stock markets trade on a lacklustre note. Sensex slips 12 points to 27,796 and Nifty dips 11 points to 8,510.

11:57 a.m.: From the Nifty basket of shares, 34 were falling while 17 were gaining. Bharat Petroleum was the top Nifty loser, down 2.6 per cent to Rs. 545.70. Tata Motors DVR, Axis Bank, Maruti Suzuki, IndusInd Bank, Larsen & Toubro, Power Grid, Bank of Baroda and Tata Motors were also among the laggards.

11:48 a.m.: Shares of Indiabulls group companies Indiabulls Wholesale Services, Indiabulls Housing Finance, Indiabulls Ventures and Indiabulls Real Estate fell between 5 per cent and 10 per cent on report that the Income Tax Department has raided Indiabulls offices across the country. (Read)

11:32 a.m.: Market breadth was negative as 1,586 stocks were declining while 826 were advancing.

11:14 a.m.: Shares of Financial Technologies (India) Ltd (FTIL) slumped as much as 10 per cent to hit intraday low of Rs. 82.55 after the Enforcement Directorate (ED) arrested Jignesh Shah, who is the founder and chairman emeritus the company.

Mr Shah was arrested yesterday in connection with the Enforcement Directorate’s probe into the Rs. 5,600-crore National Spot Exchange Limited (NSEL) money laundering scam.(Read)

10:57 a.m.: Stock markets edged lower on account of profit-booking in realty, power, capital goods and banking and FMCG shares. The Sensex was down 13 points at 27,795 and Nifty was at 8,506, down 14 points.

10:34 a.m.: Shares of metal companies were outperforming the benchmark indices. The BSE Metals index was up 1.75 per cent on the back of gains in Vedanta which was up 6.3 per cent at Rs. 170. Tata Steel, Hindalco, SAIL, NALCO, NMDC, Jindal Steel and Coal India were also among the gainer from this space, up 0.55-2.25 per cent each.

10:06 a.m.: The mid-cap index was trading on a flat note. OFSS was the top gainer from this space, up 2.36 per cent to Rs. 3,565. Adani Power, GMR Infra, Piramal Enterprises, NALCO, Oberoi Realty, Berger Paints, Alstom T&D and Videocon Industries were also among the gainers.

9:23 a.m.: Sensex and Nifty opened on a quiet note and were seen consolidating two days of gains as mild profit-booking was seen in select FMCG, infra, pharma and PSU banking stocks.

As of 9:20 a.m., the Sensex traded 46 points higher at 27,854 and Nifty was up 4 points at 8,525.

In the opening deals, mild profit booking was seen in select FMCG, pharma and PSU banking shares. On the other hand, buying interest was visible in oil & gas and metal stocks.

From the Nifty basket of stocks, 25 were advancing while 26 were declining.

ONGC was the top Nifty gainer; the stock advanced 3.75 per cent to Rs. 236.45. BHEL, Tata Steel, ICICI Bank, Hindalco, Coal India, GAIL India and Tata Power were also among the gainers.

At the same time, IndusInd Bank was the top Nifty loser, down 0.76 per cent to Rs. 1,116. Bharti Infratel, Maruti Suzuki, HDFC Bank, Sun Pharma, Bharti Airtel and Sr Reddy’s Labs were also among the laggards.

The broader markets were also trading on a flat note. The BSE mid-cap and small-cap indices were up 0.2 per cent each.

7:58 a.m.: Sensex is likely to open higher while Nifty may test its important psychological level of 8,550 tracking Nifty futures traded on the Singapore Exchange amid positive global cues.

The Nifty futures traded on Singapore Exchange also known as the SGX Nifty was up 0.23 per cent or 20 points at 8,544.

Meanwhile, other Asian markets were also trading on a positive note and came within reach of testing their 2016 peak on Wednesday as prospects of solid U.S. growth and accommodative economic policy in major countries whet investors risk appetite damaged by uncertainty from Brexit.

Japan’s Nikkei was up 1.13 per cent, Hong Kong’s Hang Seng advanced 0.5 per cent and South Korea’s KOSPI jumped 0.6 per cent.

Back home, foreign institutional investors bought shares worth Rs. 212.92 crore and domestic institutional investors bought shares worth Rs. 119.27 crore on Tuesday.

On the macro economic front, consumer inflation edged slightly higher to 5.77 per cent in June, against 5.76 per cent increase in the previous month. Economists in an NDTV Profit poll had estimated inflation to rise at 5.75 per cent.

Food inflation stood at 7.79 per cent in June, higher than a revised 7.47 per cent in May.

However, core annual consumer price inflation slowed to around 4.5 per cent in June from around 4.7 per cent in May

In another set of economic data released today, factory output, as measured by index of industrial production (IIP), grew 1.2 per cent in May as against a downwardly revised 1.35 per cent contraction in April. IIP is an important measure of the economic performance given that it reflects consumer and investment demand.

Stocks In News

Cadila Healthcare: The company has decided to launch Asacol as authorised generic drug on August 1, 2016. The estimated market of this drug is expected to be $320 million.

Ashok Leyland, Andhra Bank and RS Software: All these stocks will go ex-dividend today.

BPCL: BPCL will turn ex-bonus in ratio of one share for every one share held.

Reliance Industrial Infra, TV18 Broadcast and Infomedia: These shares may react to their Q1 earnings which will come out later in the day.