The Sensex and Nifty slumped over 1.50 per cent on Thursday as investors preferred to cut their bets after the minutes of the US Federal Reserve’s September meeting indicated a possible rate hike this year. Subdued global markets and weak macroeconomic data too dampened market sentiments. The 30-share index closed 439.23 points down at 27,643.11, while the 50-share index shed 135.35 points at 8,573.35.
Markets also stood cautious ahead of monthly inflation data based on consumer price index (CPI) for September due later in the day and wholesale price index (WPI) due on Friday. Shares of TCS closed 2.17 per cent down at Rs 2328.50 ahead of the second quarter result later in the day.
3.05 pm: Cyient shares soared over 8 per cent after the company reported 31.47 per cent rise in net profit at Rs 97.25 crore for the quarter ended September 30, 2016 against Rs 73.97 crore in the sequential quarter ended June 30, 2016
2.40 pm: Palred Technologies’ LatestOne.com, India’s No.1 Mobile and tech accessories e-tailer has launched PTron Tronite One smart watch at just 1499. This is in line with PTron’s strategy of continuously innovating and introducing new products to meet rapidly changing customer needs and demands. Tronite One is a muti functional mobile device designed to be worn on the wrist. Shares of the company were trading 3.53 per cent up at Rs 82.20 on NSE. Nifty was down 155.75 points at 8553. Sensex was trading 479.19 points down at 27603.15.
2.10 pm: Meanwhile, BSE Sensex plunged around 520 points to 27,563.
1.55 pm: India Vix, or volatility index, was 10.55 per cent up at 15.7925. All the sectoral indices on NSE were trading in red. The Nifty Bank index was down 2.40 per cent at 18,913.85. Others indices such as Nifty Auto, Nifty FMCG and Nifty IT were down by 1.90 per cent, 2.59 per cent and 1.36 per cent, respectively.
1.35 pm: BSE Sensex was trading 465.34 points down at 27,617. Nifty was down 142.30 points at 8,566.50
1.34 pm: Blue Dart Express shares were trading 3.67 per cent down at Rs 5359.20. Shares of the company plunged after it posted a 20.68 per cent decline in its net profit to Rs 42.80 crore for the quarter ended September. It had registered a net profit of Rs 53.96 crore during the corresponding period of the previous fiscal. Total income from operations grew to Rs 663.22 crore during the quarter as against Rs 653.05 crore in the year-ago period. Sensex was trading 461 points down at 27,620.
1.13 pm: Jammu & Kashmir Bank was trading over 12 per cent down at Rs 76.35.
12.50 pm: Sensex was trading 401.91 points down at 27680. Nifty was down 113.30 points at 8595. Read more: 5 reasons why BSE Sensex cracked over 400 points intraday, Nifty breached 8,600-mark
12.26 pm: Dr Reddy’s Laboratories has launched Aripiprazole tablets, USP, in 2 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg, a therapeutic equivalent generic version of Abilify (aripiprazole) tablets in the United States market approved by the US Food & Drug Administration (USFDA). Dr. Reddy’s Aripiprazole tablets 2 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg are available in bottle count sizes of 30. Shares of the pharma major were trading 1.13 per cent down at Rs 3044.
12.22 pm: Asian Granito India (AGIL) has completed a major expansion at its step Subsidiary, ‘Crystal Ceramics Industries (Crystal Ceramics)’. AGIL acquired Artistique Ceramic in FY 2015-16 through amalgamation scheme approved by Hon: Gujarat High Court, which holds 70% in Crystal Ceramics through Kediya Ceramics. Acquisition of Crystal Ceramics was a strategic decision as along with the product range it also enjoyed a Natural Gas supply arrangement with ONGC which is significantly lower than the prevailing market price. With this, expansion production capacity of Crystal Ceramics has reached 27,000 square meters a day. The new plant will be making double charged vitrified tiles in the large format of 800 X 800 mm and 1000 X 1000 mm for Domestic as well Exports. Shares of the company were trading 1.01 per cent up at Rs 284.90.
12.14 pm: The BSE Sensex was trading 316.69 points, or 1.13 per cent, down at 27,765.65. Market sentiment also remained dampened on report that foreign portfolio investors (FPIs) sold shares worth a net Rs 547.26 crore on 10 October 2016, as per provisional data released by the stock exchanges.
12.08 pm: Nifty was trading 94.75 points down at 8614.05.
12.01 pm: Sensex was trading 288 points down at 27,794. Traders also remained on sidelines ahead of monthly inflation data based on consumer price index (CPI) for September due later in the day and wholesale price index (WPI) due on Friday.
11.56 am: The BSE Smallcap index was trading 1.04 per cent down at 13117.86. However, these 85 smallcap stocks hit their all-time high in October till date
11.31 am: Alembic Pharmaceuticals is reportedly planning to increase its annual product filings for regulated markets from 7 now to 30 within two years. The Vadodara-based company has increased the number of its projects for product development from 40 in 2013-14 to 200 now. The projects are largely to develop products in injectables and dermatology. These include its own, partnered, and in-licensed products. Shares of the company were trading 2.26 per cent up at Rs 687.10. The company will announce its financial results for the second quarter ended September 30, 2016 on October 25.
10.52 am: TCS was trading 1.96 per cent down at Rs 2,333.40. The IT major will announce its financial results for the quarter ended September 30, 2016 later in the day.
10.50 am: Sensex was trading 253.73 points down at 27828.61. IndusInd Bank shares were up by 0.49 per cent at Rs 1,227.55. Read more
10.14 am: Meanwhile, Indian rupee which opened 30 paise lower on Thursday was trading 26 paise down at 66.79 against the US dollar. Sensex was down 248 points at 27,834.
9.41 am: Sensex was trading 220.67 points down at 27,861.
9.20 am: In the 30-share index, Reliance Industries was trading 1.81 per cent down at Rs 1076.15 in the early trade. GAIL, HDFC, Bharti Airtel, Mahindra & Mahindra and Tata Motors were down between 1.51 per cent and 1.73 per cent. Sensex was trading 250.72 points down at 27831. Nifty was down 71.15 points at 8,637.
9.16 am: Sensex was down 186.22 points at 27896.12. Nifty was trading 56 points down at 8652.60
9.15 am: The BSE Sensex opened 39.72 points, or 0.14 per cent, down at 28042.62, while Nifty opened 37.30 points down at 8671.50.
The BSE Sensex and NSE Nifty are likely to open in red on Thursday on the back of mixed global cues. The 30-share index on Monday added 21 points in a volatile trade to end at 28,082.34, helped by gains in metal, consumer durables and IT stocks.
Below are 5 things you should know before market opens on Thursday:
1) Nifty futures on the Singapore Stock Exchange (SGX Nifty) was trading 28.50 points, or 0.33 per cent, down at 8,675, indicating a gap-down start for domestic equity markets.
2) Asian stocks held near three-week lows and the greenback consolidated recent gains on Thursday after minutes of the last U.S. Federal Reserve policy meeting indicated a December rate increase was still on the cards. Hang Seng, Nikkei and Shanghai were down by 1.21 per cent, 0.42 per cent and 0.07 per cent in the morning deals.
3) On Wall Street, the Dow Jones Industrial Average index closed 0.09 percent up at 18,144.2 on Wednesday. The S&P 500 gained 0.11 per cent to 2,139.17 and the Nasdaq Composite dipped 0.15 per cent to 5,239.02.
4) Oil prices fell on Thursday after OPEC said that its production had risen to its highest level in at least eight years and following reports of an increase in U.S. crude stockpiles.
5) Back home, IndusInd Bank and Tata Consultancy Services (TCS) will remain in focus on Thursday. Private sector lender IndusInd Bank on Wednesday registred 25.75 per cent rise in net profit to Rs 704 crore for the second quarter ended September 30, 2016. The bank had recorded a net profit of Rs 560 crore in the July-September quarter of last fiscal.
TCS will announce its financial results for the second quarter ended September 30, 2016 on Thursday.