3.30 pm: The BSE Sensex and NSE Nifty closed in red on Tuesday on the back of selling in front line blue chip counters. Sensex closed 145.25 points down at 25,590.65, while NSE Nifty settled 48.35 points down at 7,786.10.
In the 50-share index, Mahindra & Mahindra (M&M), IndusInd Bank, ITC, Hindalco and Punjab National Bank slid between 1.65 per cent and 2.02 per cent. On the other hand, Sun Pharma, Idea Cellular, Asian Paints, Axis Bank and BPCL gained between 0.80 per cent and 1.40 per cent.
Traders were seen piling position in healthcare, telecom and consumer durables while selling was witnessed in IT, FMCG, auto and TECK sector stocks.
Hiren Dhakan, associate fund manager, Bonanza Portfolio, said, “Markets corrected on Tuesday because of profit booking in index majors like Infosys, RIL and TCS.”
In the scrip specific development, Anil Ambani-controlled Reliance Communications (RCom) gained over 2 per cent on Tuesday after it entered into talks with Aircel to consider the potential combination of their Indian wireless business.
Uttam Galva Steels closed 4.26 per cent up on reports that the company’s unit Uttam Galva Metallics has signed a memorandum of agreement (MOA) with Posco and South Korea.
Sun Pharmaceutical shares, which fell more than 7 per cent on Monday after a warning letter from the US drug regulator, recovered slightly and closed 1.37 up at Rs 764.55.
Dr Lal Pathlabs and Alkem Laboratories will be listed on stock exchanges on December 23. The initial public offerings of Alkem Laboratories and Dr Lal Pathlabs elicited robust investor response, with 44.29 times and 33.41 times over subscription, respectively.
Market breadth for the day remained mildly negative and advances to declines ratio for Nifty stood at 14:35 for the day. Volumes for Nifty stocks stood at 1,295 lakh, in line with Monday’s volumes of 1,301 lakh for Nifty stocks.
Asian equity markets ended mostly in green on Tuesday, with positive cues from Wall Street and the prospects of more stimulus in China underpinning investor sentiment. China’s government said that monetary policy must be more ‘flexible’ and fiscal spending more ‘forceful’ to combat slowing growth in the world’s second-largest economy. Hong Kong stocks closed tad higher as trading activities started to wind down for the Christmas holiday break. However, Japanese stocks ended lower after directionless moves amid a dearth of fresh incentives, with many investors sitting on the fence prior to holidays in Japan and abroad.
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3.16 pm: National Buildings Construction Corporation (NBCC) shares gained as much as 5 per cent intra-day after the company said it got an order from AIIMS for the expansion of JPN Apex Trauma centre worth Rs.3,000 crore. The project is planned for 2250 patient beds and shall be developed on a land parcel of 15 acres within a period of 4 years.
3.11 pm: Good Luck Steel gained over 4 per cent on getting RDSO’s nod for fabrication and supply of SteelBridge Griders.
3.07 pm: Srei Infrastructure Finance gained as much as 8.67 per cent after the company informed BSE that its board will meet on 29 December to consider strategic business discussion.
2.51 pm: InterGlobe Aviation, or IndiGo, shares were trading 8.13 per cent up at Rs 1,167. Other airline stocks SpiceJet and Jet Airways were up 1.18 per cent and 1.56 per cent. Sensex was down 111 points at 25,624.
2.30 pm: Sensex shed 158.01 points at 25,577. Nifty fell below the psychological mark of 7,800 was trading 47.75 points down at 7,786.70. State Bank of India (SBI), the largest public sector lender, unveiled a mobile app ‘State Bank Samadhaan’ on Google Play Store. The ‘State Bank Samadhaan’ will provide information about deposits, advances, internet banking, mobile banking, EMI calculation, SBI Branch and ATM Locations, SBI Holidays and give direct access to various mobile apps viz., SBI Freedom, SBI Anywhere, SBI Buddy, SBI Quick, etc. This is a self-service app and will enable SBI customers to avail a range of services and obtain commonly sought information, without visiting the branch. The share price of SBI was down 1 per cent at 228.05.
2.07 pm: Sensex was down 50 points at 25,687. Geometric, a global leader in 3D CNC machining software, in partnership with Ganesh Machinery, a leading CNC machine manufacturer, has received a turnkey 5-axis CNC machining solution for the North American markets that provides a ready-to-use 5-axis CNC machine, enabling manufacturing organisations to implement advanced machining capabilities more quickly and cost-effectively. The share price of Geometric was down 1.07 per cent at Rs 175.10.
1.47 pm: Sensex was marginally up 9 points at 25,745. Raymond shares gained around 0.50 per cent on plans to set up Rs 1,500 crore plant in Amravati.
1.35 pm: Drug firm Aurobindo Pharma has received approval from the US health regulator for generic Olopatadine Hydrochloride ophthalmic solution used for treatment of seasonal allergic conjunctivitis and is ready to launch the product in the American market. Shares of Aurobindo Pharma were up 1.07 per cent at Rs 845.70.
1.17 pm: Share price of Reliance Communication gained over 2 per cent after the company announced that it has entered into a 90-day exclusivity period with Maxis Communications Berhad (MCB) and Sindya Securities and Investments Private Limited, the shareholders of Aircel Limited (“Aircel”), to consider the potential combination of the Indian wireless business of RCOM and Aircel to mutually derive the expected substantial benefits of incountry consolidation, including opex and capex synergies and revenue enhancement. Sensex was up 31 points at 25,767.71.
12.57 pm: Strides Shasun shares were trading 0.26 per cent down at Rs 1304.60 after the company said it mopped up over Rs 1,102 crore through qualified institutional placement (QIP), which closed on Monday. Sensex was trading 23.70 points up at 25,759.60. NSE Nifty was trading 1.30 points up at 7,835.75.
12.24: Glenmark shares were trending 1.62 per cent up at Rs 942.40 after the pharma major received the final nod from the US health regulator for a generic version of anti-bacterial drug Zyvox. Zyvox is an anti-bacterial drug marked for adults and children for treatment of infections such as pneumonia, complicated skin and skin structure infections, including diabetic foot infections. Sensex was trading 15.56 points down at 25,720.34. Nifty 50 was trading 9.85 points up at 7,824.60.
11.47 am: Diamond Power Infrastruture Ltd received an order from Powergrid NM Transmission Ltd. for the supply of conductores for 765 KV S/C (Quad Bersimic) Salem – Madhugiri Transmission Line associated with Nagapattinam Project amounting to Rs 44 crores. Shares of the company were trading 2.88 per cent up at Rs 46.50. Sensex was trading 22.12 points down at 25,713.78. Nifty50 was trading 12.80 points down at 7,821.65.
11.14 am: Eon Electric shares gained around 3 per cent on reports that it has received an extended LED streetlight installation contract aimed at replacing conventional streetlights with LEDs in Jodhpur. As part of the extended contract, the company will install additional 33,153 LED streetlights in the city. The contract is part of Rajasthan government’s initiative to cut energy consumption by replacing conventional lights with LEDs. Sensex was marginally down 29.61 points at 25,706.
11.11 am: Kolte-Patil Developers received an approval for the scheme of amalgamation of Jasmine Hospitality, 100 per cent wholly owned subsidiary of the company. The board of directors at their meeting held on December 21, 2015 has considered and approved for the same. The share price of Kolte-Patil was trading 1.53 per cent up at Rs 139.30.
11.08 am: Godrej Industries’ subsidiary Godrej Agrovet (GAVL) has bought additional stake of 25 per cent in Creamline Dairy Products, one of South India’s largest dairy producers selling their products under the brand name ‘Creamline’ for Rs 150 crore. The share price of Godrej Industries were up 0.44 per cent at Rs 386.45.
11.03 am: The broader markets were outperforming the benchmark indices- BSE Midcap and Smallcap indices gained around 0.30 per cent each. Sensex was down 0.11 per cent at 25692
10.58 am: On the sectoral front, traders were seen pilling position in realty, consumer durables, power, capital goods and PSU, while selling was witnessed in IT, TECK, FMCG, metal and auto. Sensex was down 54 points at 25,681. Nifty was down 18 points at 7,815.
10.55 am: Nestle shares gain over 0.50 per cent on plans to launch more Maggi variants such as oats noodles and cup noodles in next 3-4 months. The company re-launched Maggi masala noodles on November 9, five months after it was banned by the FSSAI following a Bombay High Court order. After its re-launch, the company has sold 50-60 million packs of Maggi noodles so far against 300-400 million units it used to sell in full year before crisis.
10.40 am: Sensex was down 19.17 points at 25,716. Nifty 50 index was down 8 points at 7826.45. In the 50-share index, Sun Pharma, Punjab National Bank, Tata Motors, Bosch and Cipla were up between 0.55 per cent and 1 per cent. On the other hand, Adani Ports, Infosys, TCS, Mahindra & Mahindra (M&M) and Coal India were down between 0.60 per cent and 0.90 per cent.
10.25 am: IPO Update — Healthcare services firm Narayana Hrudayalaya’s initial public offer (IPO) has received good response from investors as it has been oversubscribed 8.70 times. The Rs 613-crore IPO received bids for 14,93,31,000 shares against the total issue size of 1,71,66,309 shares, data available with the NSE.
10.23 am: Brokers said emergence of profit-booking in select blue-chips after recent gains and a weak trend at other Asian bourses mainly dampened sentiment.
9.51 am: Essar Oil’s delisting offer has got stuck in unusual “technical issues” with the buyback offer from the promoters getting more than sufficient bids, but a large block of tendered shares failing to be ‘confirmed’ within the stipulated time. The delisting offer, which closed on Tuesday, received bids for an estimated 10.1 crore shares, as against a
requirement for 9.26 crore shares for the offer to succeed. Shares of Essar Oil were trading 0.58 per cent down at Rs 241.95.
9.50 am: The rupee appreciated by another 4 paise to 66.31 against the US dollar in early trade on Tuesday, extending its winning streak for the sixth day on continued selling of the American currency by banks and exporters. Sensex was down 55.35 points at 25,680.55.
9.48 am: According to the data released by the NSE, the Foreign Institutional Investors (FIIs) were net buyers of Rs 788.05 crore in index futures and options segments, as per Monday’s data, December 21, 2015.
FIIs were net buyers of index futures to the tune of Rs 52.89 crore and they bought index options worth Rs 735.16 crore. In the stock segment, FII’s were net sellers of stock futures worth Rs 394.37 crore, while they sold stock options worth Rs 32.17 crore.
9.42 am: Ramkrishna Forgings shares gained nearly 1 per cent on Tuesday after the company informed BSE that it has started commercial production at its 12,500 tonne press line with effect from December 21, 2015. The 12,500 tonne press line is located at Plant V, Saraikella, Kharswan in state of Jharkhand. Sensex was down 77.51 points at 25,658.
9.37 am: Realty player Housing Development and Infrastructure (HDIL) has sold development rights on its land parcel at Kurla to DK Realty (India) for Rs 649.51 crore. The share price of HDIL was trading 5 per cent up at Rs 73.90.
9.20 am: Shares of Reliance Communications gained after the company on Monday said it has sold nearly 150 residential flats in Navi Mumbai for Rs 330 crore as part of its asset monetisation plans aimed at lowering debt. RCom shares were trading 0.72 per cent up at Rs 84.30.
9.16 am: Country’s largest lender State Bank of India (SBI) on Monday said it plans to raise up to Rs 12,000 crore by issuing tier-II bonds on private placement basis. SBI shares were up 0.41 per cent at Rs 231.30 in the early trade. Sensex was down 38.61 points at 25,697.
9.15 am: The BSE Sensex and NSE Nifty opened on a flat note on Tuesday tracking Asian markets. Sensex opened 4.83 points down at 25,731.07, while NSE Nifty opened 5.05 points down at 7,829.40.
Asian shares took solace from gains on Wall Street and edged higher on Tuesday, though gains were capped by caution over low share trade volume and plunging Brent crude oil prices ahead of this week’s holidays.
MSCI’s broadest index of Asia-Pacific shares outside Japan inched 0.1 per cent higher in early trade, after Wall Street logged solid gains overnight following a losing week. Japan’s Nikkei stock index was down 0.2 per cent in early trade. Hang Seng was up 0.02 per cent.
After taking a day’s breather, the benchmark BSE Sensex on Monday resumed its upward climb by bouncing back almost 217 points to 25,735.90 spurred by a rally in banking, metal and PSU stocks as buying picked up. The broader NSE Nifty too regained the key 7,800-mark. Sentiment was also bolstered amid hopes that Parliament would manage to pass the crucial bankruptcy Bill, brokers said.
Meanwhile, global rating agency Moody’s Investors Service has said that Reserve Bank of India’s (RBI) new uniform methodology for calculating base rate on marginal cost of funds is ‘credit positive’ for Indian banks as it would ease pressure on their balance sheet. It said that RBI’s new guidelines for banks to calculate their lending rates will reduce pressure on their net interest margins (NIMs).
The Telecom Regulatory Authority of India (TRAI) will come up with its recommendations on spectrum pricing for the next round of auction by mid-January. TRAI Chairman R S Sharma has said that “We have open house discussions on January 4. After that we should be able to give recommendation very soon, hopefully by mid-January”.
(With agency inputs)