Sensex dips over 150 points to close

Sensex dips over 150 points to close at 27,274.15 ; NSE Nifty settles down at 8433.75 points

The BSE Sensex continued its sluggishness for the 5th straight session and closed at a new four month low of 27,274.15 as worries over the outcome of the next week’s US Presidential elections continue. The BSE Sense had earlier lost 511.23 points in the previous four sessions, dropped down another 156.13 points or 0.57% to finfish at 27,274. 15 points, a new low since July 8. It shuffled a little between 27m498.91 and 27,192.61 points. The NSE Nifty on the other hand, went down by 51.20 points or 0.60% to finsish at 8,433.75 points. It too moved a little between 8504 points and 8400.25 points.

Sensex opens in green

Sensex opens in green at 27,438; Nifty up by 6 points at 8,491

BSE Sensex, NSE Nifty open in green. Sensex up by 8 points at 27,438.70 while Nifty is up by 6 points at 8,491.35.

Sensex slips by 26 points to 27,404.07 while Nifty is up by 1.25 points at 8,486.20. In the 30-share index, ITC, ICICI Bank gain while ONGC, Tata Motors andBharti Airtel are amongst the losers

OPENING BELL

BSE Sensex, NSE Nifty open in green. Sensex up by 8 points at 27,438.70 while Nifty is up by 6 points at 8,491.35

PRE-MARKETS

Domestic equity markets are likely to open in red on Friday tracking SGX Nifty and global cues. At 07.50 am, SGX Nifty was trading 23 points, or 0.27 per cent down at 8,496. Asian shares slipped on Friday and the dollar nursed losses in a week marked by growing uncertainty about the outcome of the U.S. presidential election. Investors have been unnerved in recent days by signs that the U.S. presidential race between Democrat Hillary Clinton and Republican Donald Trump was tightening just days before Tuesday’s vote.

The Dow Jones Industrial Average fell 28.97 points, or 0.16 per cent, to settle at 17,930. The S&P 500 dropped 9.28 points, or 0.44 per cent, to 2,088. The Nasdaq Composite index lost 47.16 points, or 0.92 per cent, to 5,058

BSE Sensex plummeted some 97 points to hit nearly four-month low of 27,430.28, falling for the fourth straight session, and Nifty crashed below the key 8,500-level on Thursday, tracking cautious global markets amid a new poll suggesting a likely win for Donald Trump in US election.

On Thursday, a four-tier GST tax structure of 5, 12, 18 and 28 per cent that aims to lower tax incidence on most goods and keep out essential items was decided by a high-powered council, can also have an effect on the stock market today.

Stocks in focus:

1. Ambuja Cement: Ambuja Cement on Thursday reported consolidated net profit of Rs 216.11 crore for the September quarter aided by dividend income from cement maker ACC Ltd.

2. RIL: Fitch on Thursday affirmed Reliance Industries’ rating at ‘BBB-‘ with a stable outlook on robust refinery and petrochemical business as also “strong growth potential” in recently launched telecom venture. It said the robust operating cash flows from its refining and petrochemical businesses will provide some cushion against any weak cash generation from the telecom operations for some time.

3. ONGC: In a setback to energy firms like ONGC and Cairn India, the government will from this fiscal levy service tax of about Rs 1,922 crore on royalties they pay to the exchequer on oil and gas they produce.

4. Whirlpool of India Ltd: Whirlpool of India reported a jump of 64.43 per cent in its standalone net profit at Rs 58.72 crore for the quarter ending September. The company had posted a standalone net profit of Rs 35.71 crore during the same period of the previous fiscal, it said in a statement.

5. Airtel: Bharti Airtel on Thursday launched its 4G services in eight cities of Uttar Pradesh promising high speed mobile broadband experience for its subscribers.

6. Tata Motors: Tata Motors has inked a pact with Indonesia’s state-owned enterprise PT Pindad to explore market potential of Tata armoured vehicles in Indonesia and other agreed regions of Asean.

7. Berger Paints: The company on Thursday reported a 55.35 per cent jump in its consolidated net profit at Rs 138.78 crore for the quarter ended September, aided by exceptional gains of Rs 44.20 crore. It had reported a net profit of Rs 89.33 crore during July-September of the last fiscal.

Live Stock Market Updates

The BSE Sensex ended with a loss of 97 points at 27,430. The BSE Sensex opened at 27,518 touched an intra-day high of 27,601 and low of 27,399.

Closing Bell:

Finally, the BSE Sensex ended with a loss of 97 points at 27,430. The BSE Sensex opened at 27,518 touched an intra-day high of 27,601 and low of 27,399.

The NSE Nifty closed with a loss of 29 points at 8,485. The NSE Nifty opened at 8,499.85 hitting a high of 8,538 and low of 8,476.

Live Market:
The domestic market are trading marginally lower due to uncertainty over a tight US presidential election.

The Indian equity market opened lower dragged by global concerns. The Nifty breached the crucial 8500 level for the first time since July 11 weighed down by losses in IT, oil & gas, banks, auto, and capital goods stocks.

The Nikkei India Services PMI rose to 54.5 in October from 52 in September. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

At 1:31 PM, the S&P BSE Sensex is trading at 27,445 down 82 points, while NSE Nifty is trading at 8,496 down 17 points.

The BSE Mid-cap Index is trading down 0.83% at 13,084 whereas BSE Small-cap Index is trading down 0.47% at 13,248.

ICICI Bank, Tata Steel, Cipla, Hero MotoCorp, Dr Reddy's and RIL are among the gainers, whereas ONGC, Bharti Airtel, M&M, Wipro and Sun Pharmaceuticals are losing sheen on NSE.

Some buying activity is seen in FMCG and auto sectors, while banking, media, IT, pharma and realty sectors are showing weakness on BSE.

The INDIA VIX is down 1.99% at 16.4625. Out of 1,865 stocks traded on the NSE, 949 declined, 658 advanced and 278 remained unchanged today.

A total of 55 stocks registered a fresh 52-week high in trade today, while 14 stocks Closing Bell:

Finally, the BSE Sensex ended with a loss of 97 points at 27,430. The BSE Sensex opened at 27,518 touched an intra-day high of 27,601 and low of 27,399.

The NSE Nifty closed with a loss of 29 points at 8,485. The NSE Nifty opened at 8,499.85 hitting a high of 8,538 and low of 8,476.

Live Market:
The domestic market are trading marginally lower due to uncertainty over a tight US presidential election.

The Indian equity market opened lower dragged by global concerns. The Nifty breached the crucial 8500 level for the first time since July 11 weighed down by losses in IT, oil & gas, banks, auto, and capital goods stocks.

The Nikkei India Services PMI rose to 54.5 in October from 52 in September. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

At 1:31 PM, the S&P BSE Sensex is trading at 27,445 down 82 points, while NSE Nifty is trading at 8,496 down 17 points.

The BSE Mid-cap Index is trading down 0.83% at 13,084 whereas BSE Small-cap Index is trading down 0.47% at 13,248.

ICICI Bank, Tata Steel, Cipla, Hero MotoCorp, Dr Reddy's and RIL are among the gainers, whereas ONGC, Bharti Airtel, M&M, Wipro and Sun Pharmaceuticals are losing sheen on NSE.

Some buying activity is seen in FMCG and auto sectors, while banking, media, IT, pharma and realty sectors are showing weakness on BSE.

The INDIA VIX is down 1.99% at 16.4625. Out of 1,865 stocks traded on the NSE, 949 declined, 658 advanced and 278 remained unchanged today.

A total of 55 stocks registered a fresh 52-week high in trade today, while 14 stocks touched a new 52-week low on the NSE.

Hindalco Industries Ltd is currently trading at Rs 164.85, up by Rs 8.5 or 5.44% from its previous closing of Rs 156.35 on the BSE.

Lupin slipped 1.2%. The company has received approval from the US drug regulator for a contraceptive tablet. The product is a generic version of Janssen Pharmaceuticals Inc.’s drug.

Mphasis Ltd is currently trading at Rs 509.9, down by Rs 11.4 or 2.19% from its previous closing of Rs 521.3 on the BSE. The company will announce its Q2 numbers today.

Hero MotoCorp gained 1.7%.  Hero MotoCorp reported a 3.6% increase in sales at 663,153 units in October.

TVS Motor Company slipped 1.4%. The company posted 12% increase in total sales at 308,690 units in October. The Chennai-based company had sold 274,622 units in the same month last year.

IL&FS Engineering tanked 6% after the company reported net loss of Rs 81 crore for the quarter ended September 30, 2016 against net loss of Rs 82 crore in the same quarter a year ago.

Ambuja Cements inched up 0.48% to Rs 242. Ambuja Cements will announce its Q2 numbers today.

Zensar Technologies tumbled 3.8%.The company has acquired Foolproof Ltd along with its three wholly owned subsidiaries for an undisclosed amount.

Monsanto India Ltd is trading flat on the BSE. The company will announce its Q2 numbers today.

Strides Shasun Ltd soared  6.6%. The company said it and Mylan agree to settle regulatory and general claims on Agila transaction. After payment to Mylan, Strides to receive approximately $30 million from regulatory escrow.

Aurobindo Pharma is trading lower by 1% to Rs 784. Aurobindo Pharma has expressed interest in acquiring Portuguese drug maker Generis Farmaceutica for about $200 million, as per media reports.

Oudh Sugar Mills soared 2%.  The company posted its net profit at Rs 18.6 crore in the quarter ended September 2016 as against net loss of Rs 19 crore in the corresponding quarter last year.

Gulshan Polyols soared 5.2% after the company informed BSE that the board of directors of the company is scheduled to be held on November 05, to consider and discuss the matter of sub-division of equity shares of the company.

MMTC gained 2.3% to Rs 53.  MMTC plans to sell sovereign gold coins to non-resident Indians through branches of Indian banks with which it has tied-ups. 

Asian markets opened flat to mildly positive after a huge drubbing in the last session. Globally the Fed maintained status quo on rates which saw yields fall along with the US $. Oil weakness saw energy stocks lead the declines even as financials rallied in the last hour. Next few days could see the uncertainty prevail with opinion divided on the outcome of the elections. However given the market behavior over the last 1 month most participants feel the probability of a Trump victory could well have been priced in with markets having only a knee jerk reaction on the day of the results.

India has the potential to move much ahead said PM Narendra Modi at a journalism awards event presented by IIFL Wealth & Asset Management. While the government says it will continue to undertake needed measures to strengthen economy, boost GDP growth and create jobs, rating agencies are not impressed as yet.

S&P retained India's rating at 'BBB-' with a stable outlook. Citing low per capita income and weak public finances, it ruled out an upgrade even for next year.

Sensex falls; Nifty below 8,500; banking stocks hit

BSE Sensex is currently trading lower by 78.25 points, or 0.28%, to 27,448.97; Nifty 50 of the NSE slips 22.45 points, or 0.26%, to 8,491.55

Continuing its downward trend, the BSE Sensex fell about 81 points and the NSE Nifty broke below the 8,500-mark in early trade on Thursday amid weak global cues. Sentiment remained downbeat due to sustained selling by foreign institutional funds and retail investors on the domestic bourses. The benchmark 30-share S&P BSE Sensex declined 80.91 points or 0.29% to 27,446.31, with sectoral indices led by IT, tech, auto and infrastructure accounting for much of the losses, falling by up to 0.43%. The index had lost 414.29 points in the previous three sessions. The Nifty 50 of the National Stock Exchange (NSE) Nifty was trading lower by 24.40 points or 0.28% at 8,489.60. Brokers said steady capital outflow by foreign funds and a weak trend at other Asian markets with uncertainty over the US presidential election sending investors rushing for the sidelines, kept the Indian bourses on a sticky wicket.

3.10pm: The 30-share S&P BSE Sensex is currently trading lower by 78.25 points, or 0.28%, to 27,448.97, while the Nifty 50 of the National Stock Exchange (NSE) slips 22.45 points, or 0.26%, to 8,491.55.

2:26pm Dr Lal PathLabs Ltd rises 8.4% to Rs1,264. The company reported a net profit of Rs51.43 crore in September quarter against Rs4.60 crore a year ago. Net sales rose 21% to Rs252.91 crore.

2.15pm: CESC falls 5% to Rs593.85 after West Bengal Electricity Regulatory Commission bared higher captive coal mining cost recovery.

2.10pm: Banking stocks trading lower. Syndicate Bank falls 3.5%, Federal Bank 3%, Punjab National Bank 2.3%, Indian Bank 2.3%, Andhra Bank 2.1%, State Bank of India 1.9%, Bank of Baroda 1.8%, Dena Bank 1.5%, Union Bank of India 1.2%.

2.05pm: Logistic stocks trading higher after Bloomberg report said that the GST rates likely to be finalised today. Snowman Logistics rises 1.3%, GATI Ltd rises 1.6%, Allcargo Logistics Ltd rises 1.6%, VRL Logistics Ltd 0.5%, Patel Integrated Logistics Ltd 3.3%, Transport Corporation of India Ltd 1.2% and Container Corporation of India 0.4%.

2.00pm: The 30-share S&P BSE Sensex is currently trading down by 28.20 points, or 0.10%, to 27,499.17, while the Nifty 50 of the National Stock Exchange (NSE) slipped 5.80 points, or 0.07%, to 8,508.20.

1.55pm: Reliance Industries Ltd rises 1% to Rs1,033. Fitch Ratings has affirmed that Reliance Industries Ltd’s (RIL) long-term foreign-currency issuer default rating (IDR) at ‘BBB-’, and its long-term local-currency IDR at ‘BBB’. The outlook on the ratings was stable.

1.50pm: ABG Shipyard Ltd rises 16% to Rs38.50. According to CNBC TV lenders and promoters started biding process to sell majority stake in ABG Shipyard. Lenders approached Reliance Defence to evaluate buy, Shapoorji Pallonji in talks.

1.45pm: TTK Prestige Ltd falls 1.5% to Rs6,426. The company reported a net profit of Rs35.39 crore in September quarter against Rs34.04 crore a year ago. Total income rose to Rs483.22 crore against Rs409.90 crore.

1.30pm: Tata Steel Ltd falls 1.1% to Rs409.25 after rating firm Brickwork has cut its Rs4,000 crore non convertible rating to AA from AA+.

1.15pm: Hindustan Construction Co. Ltd rises 1.5% to Rs36.55 after the company said its joint venture with Laxmi Civil Engineering Services has got Rs374.60 crore order from Narmada Valley Development Authority to built Bistan Lift Irrigation scheme on turnkey basis.

1.00pm: The 30-share S&P BSE Sensex is currently trading higher by 34.12 points, or 0.12%, to 27,561.34, while the Nifty 50 of the National Stock Exchange (NSE) rises 14.65 points, or 0.17%, to 8,528.65.

12.50pm: Gujarat Narmada Valley Fertilizers & Chemicals Ltd falls 18% to Rs222. The stock fell for the third session. According to an ET Now report, the company has shut down its Dahej TDI plant after gas leak.

12.40pm: Sangam India Ltd rises 2% to Rs318.20. The company said it won new export orders of denim and PV fabrics worth Rs35 crore.

12.30pm: Jindal Steel & Power Ltd (JSPL) rises 2% to Rs76.10. JSPL, India’s second-most indebted mill, said that it missed payment on interest due last month on some bonds, the third lapse since September. The company did not make interest payments of Rs15.43 crore due last month on four non-convertible debentures because of short-term cash flow mismatches and the money will be paid in due course, the company said in a filing on Thursday. It earlier missed interest payments on 17 bonds that were due in September and October.

12.20pm: Oil marketing companies trading lower. Hindustan Petroleum Corp. falls 1.2%, Bharat Petroleum Corp. 1%, Indian Oil Corp. Ltd 0.3%.

12.10pm: Infosys Ltd falls 0.9% to Rs972.35—a level last seen on 20 July 2015. The stock fell eight out of nine trading sessions and down 6.3% in this period. So far this year it fell 11.6%.

12.00pm: The 30-share S&P BSE Sensex is currently trading higher by 20.84 points, or 0.08%, to 27,548.06, while the Nifty 50 of the National Stock Exchange (NSE) rises 11.65 points, or 0.14%, to 8,525.65.

11.50am: Tata Consultancy Services Ltd falls 0.9% to Rs2,284. The stock fell seven out of eight sessions and down 6% in this period. So far this year it fell 5.3%.

11.40am: Wipro Ltd falls 0.5% to Rs454.55. The stock fell seven out of nine trading sessions and down 9% in this period. So far this year it fell 18.55%.

11.30am: Multi Commodity Exchange Of India rises 3.1% to Rs1,292. The Securities and Exchange Board of India (Sebi) is planning to allow mutual funds, banks and insurance companies to participate in commodity derivatives market, said Sebi chairman UK Sinha on Friday.

11.20am: Vedanta group companies were trading higher. Cairn India Ltd rises 2.1%, Vedanta Ltd rises 3%, Hindustan Zinc Ltd rises 1%.

11.10am: Ambuja Cements rises 0.6% to Rs242 ahead of its September quarter earnings. According to 20 Bloomberg analysts’ estimates, the company may post net profit of Rs243.90 crore, while net sales will be at Rs2,118.90 crore.

11.00am: The 30-share S&P BSE Sensex is currently trading higher by 45.74 points, or 0.17%, to 27,572.96, while the Nifty 50 of the National Stock Exchange (NSE) rises 15.70 points, or 0.18%, to 8,529.70.

10.50am: Mphasis falls 0.3% to Rs520 ahead of its September quarter earnings. According to 15 Bloomberg analysts’ estimates, the company may post net profit of Rs205.70 crore, while net sales will be at Rs1,535 crore.

10.40am: Shoppers Stop falls 2% to Rs360.95 ahead of its September quarter earnings. According to seven Bloomberg analysts’ estimates, the company may post net profit of Rs14.63 crore, while net sales will be at Rs1,079.90 crore.

10.30am: Delta Corp. Ltd rises 2.6% to Rs173.35. The company said that winding up petitions filed by certain holders of compulsorily convertible debentures (now converted into shares) have been admitted against Daman Hospitality Private Ltd (DHPL), a subsidiary of the company. DHPL is in the process of filing an appeal against this order, and based on legal advice, the company believes that it has a good case to succeed in appeal against the order.

10.20am: IL&FS Engineering and Construction Co. Ltd falls 5.4% to Rs50.15. The company reported a net loss of Rs81 crore in September quarter against net loss of Rs82 crore a year ago. The company said it defaulted on 6% Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS), redemption of Cumulative Redeemable Preference Shares (CRPS). The company asked preferential shareholders for six months for redemption.

10.10am: The 30-share S&P BSE Sensex is currently trading higher by 31.10 points, or 0.11%, to 27,558.32, while the Nifty 50 of the National Stock Exchange (NSE) rises 13.05 points, or 0.15%, to 8,527.05.

10.00am: Strides Shasun Ltd rises 3.3% to Rs1,081.95. The company said it and Mylan agree to settle regulatory and general claims on Agila transaction. After payment to Mylan, Strides to receive approximately $30 million from regulatory escrow.

9.50am: Tata Motors Ltd falls 0.7% to Rs510.35. According to CNBC TV, four Tata Motors directors backed Cyrus Mistry, and one declined to comment; independent directors are going to meet ahead of crucial 14 November board meeting.

9.40am: The benchmark 10-year government bond yield was trading at 6.807% compared to Wednesday’s close of 6.815%. Bond yields and prices move in opposite directions.

9.30am: The Indian rupee opened at 66.73 against the US dollar, up 0.01% from its previous close of 66.72. So far this year, it fell 0.83%.

9.20am: Japan’s Nikkei 225 index is closed for a holiday, while Hong Kong’s Hang Seng dropped 0.5% to 22,699.92. The Shanghai Composite index rose 0.20% at 3,108.71 and South Korea’s Kospi down 0.2% to 1,972.30. Australia’s S&P ASX 200 fell 0.10% at 5,223.71. Markets in Southeast Asia and Taiwan are trading lower.

9.10am: Benchmark US crude rebounded, rising 44 cents to $45.79 a barrel in electronic trading on the New York Mercantile Exchange. It sank $1.33 to $45.34 a barrel on Wednesday after a report from the Energy Department showed a sharp buildup in crude oil supplies last week. Brent crude, used to price international oils, added 60 cents at $47.46 a barrel. It lost $1.28 to $46.86 a barrel in London.

9.00am: The dollar fell to ¥102.82 from ¥103.28, while the euro rose to $1.1117 from $1.1096.

8.50am: US Stocks retreated for a seventh consecutive day on Wednesday, the market’s longest decline in five years, as investor worries about the US presidential election continued to weigh on the market. The Dow Jones industrial average fell 0.4%, to 17,959.64. The Standard & Poor’s 500 index fell 0.7%, to 2,097.94. The Nasdaq composite lost 0.9% to 5,105.57. For the year, the Dow is up by 3.1%, while the S&P 500 is up by 2.6%. The Nasdaq is up by 2%.