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 Wednesday, tracking cautious global markets amid a new poll suggesting a likely win for Donald Trump in US election. After opening lower at 27,518.06, the Sensex recovered to the day’s high of 27,600.74 on bargain-buying by participants, including domestic financial institutions. However, it again slipped into negative terrain to hit a low of 27,399.26 before settling 96.94 points, or 0.35 per cent, lower at 27,430.28. The Nifty after shuttling between 8,476.15 and 8,537.65, concluded 29.05 points or 0.34 per cent down at 8,484.95.
3:32 pm BSE Sensex was trading low by over 95 points to end at 27,430.28 and NSE Nifty down by 0.34% at 8,484.95
3:25 pm BSE Sensex was trading low by close to 120 points at 27,407.39 and NSE Nifty down by 0.44% at 8,476.85
3:15 pm BSE Sensex was trading low by over 110 points at 27,414.30 and NSE Nifty down by 0.36% at 8,483.10
3:05 pm BSE Sensex was trading low by over 70 points at 27,455.01 and NSE Nifty down by 0.23% at 8,494.75
2:50 pm BSE Sensex was trading low by over 20 points at 27,503.68 and NSE Nifty down by 0.03% at 8,511.50
01.28 pm: Sensex drops over 80 points to 27,448.11 while Nifty turns red by slipping over 17 points or 0.20% at 8,496.55
12.56 pm: The 30-share index was trading at 27,562.41 or 35 points up while Nifty was up by 0.17% or 14 points at 8,528.40
12.08 pm: BSE Sensex was trading 16 points up at 27,543.62. While Nifty recorded a gain of 7 points at 8,521.45
10.58 am: Sensex was trading in green at 27,574.03 or 46 points up while Nifty was at 8,531.75, up by 0.21%
10.10 am: Gainers and losers at BSE Sensex:
10.06 am: Sensex gains over 26 points at 27,553.52 while Nifty also turns green at 8,531.55, up over 13 points
09.48 am: The Indian rupee edged higher by 2 paise to 66.69 against the US dollar at the forex market in early trade today on fresh selling of the American currency by exporters.
09.20 am: BSE Sensex was trading down by 6 points or 0.02% at 27,521. NSE Nifty dropped by 2.85 points at 8,511.51. Tata Steel, Dr Reddy, ITC, Sun Pharma were among the top gainers while Tata Motors, ONGC, TCS were among the losers in the 30-share index.
BSE Sensex opens 57 points down at 27,470 while NSE Nifty slips down by 12 points at 8,501.90.
Domestic equity markets are likely to open in red on Thursday tracking SGX Nifty and global cues. At 07.50 am, SGX Nifty was trading 16 points, or 0.19 per cent down at 8,522.
Asia shares joined the U.S. dollar on the defensive on Thursday as the nail-biting U.S. presidential race saw the S&P 500 suffer its longest losing streak in five years as investors sailed to safer harbours. Oil prices steadied for a moment after taking a beating on data showing a record weekly build in U.S. crude inventories. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat with only minor moves across the region. Shanghai and South Korea barely budged.
The BSE Sensex on Wednesday tumbled over 349 points to close at 27,527.22 on weakening global cues after the latest poll suggested that Republican Donald Trump was slightly ahead of market favourite Hillary Clinton in the US Presidential race. Also, the broader NSE Nifty broke below the 8,600-mark level to close at an over three-month lows.
Stocks in focus:
1. Reliance Industries Limited: Reliance Jio Infocomm will install around 45,000 mobile towers in the next six months to boost its 4G network.
“Reliance Jio in meeting with Telecom Minister (Manoj Sinha) has committed to invest 45,000 crore mobile towers in next 6 months to further strengthen its network. The company has said that it has plans to invest Rs 1 lakh crore over a period of 4 years and the new towers are part of this investment,” an official source told PTI.
2. Dilip Buildcon: Infrastructure firm Dilip Buildcon on Wednesday said it has won a Rs 914-crore contract from the government for upgradation of a highway stretch in Maharashtra under National Highways Development Project (NHDP).
3. Ajanta Pharma: Drug firm Ajanta Pharma on Wednesday said it has launched in the US market tablets used for lowering blood pressure.
After the approval of the United States Food and Drug Administration (USFDA), the company has launched Amlodipine + Olmesartan Medoxomil tablets in the US market through its arm Ajanta Pharma USA Inc,” the company said in a BSE filing.
4. Tech Mahindra: Stockmann Plc, a Finland-based company engaged in retail, on Wednesday said it has signed a five-year cooperation agreement with Tech Mahindra to produce part of the firm’s ICT services. According to a statement issued by the Finnish company,
the purpose of the long-term partnership is to increase efficiency in developing innovative ICT solutions for Stockmann’s customers, lower costs, harmonise and centralise ICT (Information Communication Technology) services.
5. HT Media: HT Media today reported a decline of 16.01 per cent in its consolidated net profit to Rs 30.93 crore for the quarter ended on September 30, 2016. The company had posted a net profit of Rs 36.83 crore in the July-September period of the previous fiscal, HT Media said in a BSE filing.
6. TVS Motors: TVS Motor Company today reported 12 per cent increase in total sales at 3,08,690 units in October.