3.30 pm: The BSE Sensex closed 86.55 points down at 28092.53, while NSE Nifty index settled 17.65 points down at 8691.30. In the Nifty 50 index , Adani Ports, Dr Reddy’s Labs, Bharti Infratel, Asian Paints and ICICI Bank gained between 2 per cent and 9 per cent. On the other hand, Tata Steel, M&M, Idea Cellular, GAIL and HUL slipped between 1.98 per cent and 2.66 per cent. Sentiments remained weak in the absence of any positive trigger. Market participants failed to get any sense of relief with the statement of Economic Affairs Secretary Shaktikanta Das that the revenue neutral rate structure will be decided the next month. On the sectoral front, banking stocks closed higher after the Finance Minister Arun Jaitley stated that in a move to help state-run banks clean up books, the government will encourage them to acquire assets of loan defaulters in steel, power and shipping sectors, and rope in state-run companies to manage them.
2.38 pm: Meanwhile, Federal Bank reported 24.78 per cent rise in its net profit at Rs 201.24 crore for the quarter ended September 30, 2016 as compared to Rs 161.28 crore for the same quarter in the previous year. Total income of the bank increased 11.67 per cent to Rs 2327.79 crore for Q2FY17 from Rs 2084.53 crore for the corresponding quarter in previous year. Shares of the bank were trading 7.87 per cent up at Rs 80.85. Sensex was down 78 points, or 0.28 per cent, at 28,101.01. Nifty was down 19.70 points, or 0.23 per cent, at 8,689.25.
1.43 pm: Sensex was down 111 points at 28,067. Nifty was trading 27.20 points down at 8,681.
1.36 pm: Arvind Ltd was trading 10.24 per cent up at Rs 396.30. Read more Sensex was down 99.89 points at 28,079. Nifty was trading 24.50 points down at 8,684.
1.10 pm: Meanwhile, HDFC Bank reported 20.42 per cent rise in net profit at Rs 3455.33 crore for the quarter ended September 30, 2016 against Rs 2,869.45 crore in the corresponding quarter a year ago. Shares of the bank were trading 0.85 per cent down at Rs 1,254.65. For the half year ended September 30, 2016, HDFC Bank posted 54 per cent fall in net profit at Rs 5,565.17 crore against Rs 12,296.23 crore in the same quarter last fiscal.
12.25 pm: Gujarat Industries Power Company (GIPCL) has commissioned eight Wind Turbine Generators (WTGs) of 2.1 MW each aggregating to 16.8 MW at the Nakhatrana Wind Farm Sites, Dist. Kutch in Gujarat state. Gujarat Energy Development Agency (GEDA) has issued Certificates of Commissioning dated October 20, 2016. Shares of the company were trading 0.38 per cent up at Rs 93. Sensex was trading 93 points down at 28,086.09.
11.55 am: Idea Cellular was trading 2.27 per cent down at Rs 75.25. Read more
11.36 am: Dr Reddy’s Laboratories reported 60 per cent fall in consolidated net profit at Rs 308.90 crore for the quarter ended September 30, 2016 against Rs 774.70 crore in the corresponding quarter a year ago. Shares of the company were trading 1.02 per cent up at Rs 3,121.
11.25 am: Meanwhile, PNB Housing Finance IPO was subscribed by 2 per cent on the first day of offer till 11.00 am. Read more
11.04 am: Bharti Infratel was trading 2.85 per cent up at Rs 380.40. The company registered 46.86 per cent rise in its net profit at Rs 535.30 crore for the quarter under review as compared to Rs 364.50 crore for the same quarter in the previous year. Total income of the company increased by 8.98 per cent at Rs 1,515 crore for Q2FY17 as compared Rs 1,390.10 crore for the corresponding quarter previous year.
10.18 am: Sensex was trading 152 points down at 28026. According to market experts, sentiment was downbeat after Mistry was removed as chairman of India’s largest conglomerate Tata Group and replaced by his predecessor Ratan Tata in the interim, a development that can trigger a confrontation between the single-largest shareholder and the company’s founding family. Nifty was down 39.80 points at 8669.15.
9.51 am: Tata group shares were trading in red in the early trade. Sensex was down 128.23 points at 28050.85. Nifty was down 26.80 points at 8682.15. Read more: Investors give Tata group stocks thumbs down on mystery over Mistry’s ouster
9.41 am: Sensex was trading 55 points down at 28,123. Rallis India reported 23.31 per cent rise in its net profit at Rs 73.16 crore for the quarter ended September 2016 as compared to Rs 59.33 crore for the same quarter in the previous year.
9.19 am: Tata Metaliks shares dipped over 3 per cent despite the company’s consolidated net profit rose by 7 per cent to Rs 21.92 crore for the quarter ended September 30, 2016. The firm had clocked a net profit of Rs 20.42 crore in the year-ago period.
9.17 am: NSE Nifty was trading 4.35 points down at 8,704. Idea Cellular shares were down 2.08 per cent at Rs 75.40. Idea Cellular on Monday posted an 88 per cent fall in its consolidated net profit at Rs 91.46 crore in the September quarter due to higher expenses. The company had reported a net profit of Rs 762.27 crore in the corresponding three months a year ago.
9.15 am: The BSE Sensex opened 19.99 points down at 28159.09.
The BSE Sensex and NSE Nifty are likely to open on a flat note with positive bias on Tuesday tracking global cues. Domestic stocks took on more strength on positive cues from Europe on Monday as the benchmark Sensex advanced 102 points to hit a three-week high of 28,179.
Below are 5 things you should know before market opens on Tuesday.
1) SGX Nifty was trading 4.50 points, or 0.05 per cent, up at 8726.50, indicating a flat-to-positive start for domestic equity markets.
2) Japanese shares hit a six-month top on Tuesday as the dollar advanced on the yen, while risk sentiment got a lift after factory surveys in the United States and Europe boasted the best readings of the year so far.
3) Results Today: Adani Ports, Arvind, Asian Paints, Axis Bank, Bharti Airtel, ICICI Prudential Life Insurance and IDFC Bank will announce their financial results for the quarter ended September 30, 2016 on Tuesday.
4) PNB Housing Finance IPO will hit capital markets today at a price band of Rs 750-775. The company will raise Rs 3,000 crore through fresh issue of equity shares. Kotak Investment Banking, Bank of America Merrill Lynch, JM Financial, JP Morgan and Morgan Stanley are the global coordinators and book running lead managers (BRLMs) to the issue. The public issue will close on October 27.
5) Tata group stocks will remain in focus today as Cyrus Mistry was sacked as chairman of Tata Sons and was replaced by Ratan Tata. The combined market valuation of all listed companies of Tata Group almost doubled during the four-year tenure of outgoing chief Cyrus Mistry, but the growth was nearly 57-times under his predecessor Ratan Tata who has returned at the helms for now.