3.30 pm: The BSE Sensex and NSE Nifty erased all of their gains in the late trade and ended flat on account of selling in frontline blue chip counters. Sensex closed almost flat at 26,843, while Nifty index settled 1.85 points up at 8220.80.
In the 50-share index, Axis Bank, Kotak Mahindra Bank, Tata Power, HUL and NTPC gained between 1.89 per cent and 3.42 per cent. On the other hand, Idea Cellular, Bharti Airtel, Lupin, BHEL and Hero MotoCorp slid between 1.36 per cent and 11.23 per cent.
Traders were seen piling position in Bankex, Auto and Oil & Gas stocks while selling was witnessed in Consumer Durables, Capital Goods, Telecom and TECK sector stocks.
Anand James, chief market strategist, Geojit BNP Paribas Financial Services, said, “Indian markets took cue from flat global markets ahead of release key US Non-Farm Payrolls data. However, the second forecast of IMD assuring an above normal monsoon, kept buying interest alive. RBI easing norms for NBFCs to encourage infrastructure financing also lent positivity to the market, while decline in growth of services PMI kept gains under check.”
Asian equity markets ended higher on Friday as investors shrugged off OPEC’s decision against an output cut and looked ahead to the release of the closely-watched monthly US jobs report tonight that could provide more clues on the timing of US rate increases. The US jobs report is expected to show an increase of about 1,58,000 jobs in May, with the jobless rate seen edging down to 4.9 per cent. While a firmer close on Wall Street overnight and steadier commodity prices offered support, but gains were capped by a stronger yen and data showing slowing business activity growth in China for the second month in a row. Chinese shares posted their best weekly gain since March as hopes for inclusion of A-shares into the world’s biggest indexes helped investors shrug off disappointing services sector data. Activity in China’s services sector continued to expand in May, albeit at a slower pace, the latest survey from Caixin revealed a services PMI score of 51.2, underscoring fading growth momentum in the world’s second-largest economy. Japanese shares eked out modest gains in thin trade despite the yen rising for the fourth consecutive session against the dollar.
3.01 pm: Shares of mining giant NMDC continued to trade firm after the company scheduled a board meeting next week to consider a proposal to buyback company’s shares. The scrip was trading 4.34 per cent up at Rs 90.20. Sensex was up 2 points at 26845.
2.30 pm: European equities advanced on Friday, with French hotel group Accor climbing on a report that China’s Jin Jiang was planning to hike its stake in the group, while a recovery in commodities prices boosted mining and energy stocks.
2.10 pm: Sensex was down 4.81 points at 26838, while Nifty was trading at 8,224, 5.20 points higher than its previous close.
1.45 pm: Boosted by a rally in stocks, the total market valuation of listed companies at the BSE regained the Rs 100 lakh crore mark on Thursday. The total market capitalisation (m-cap) of BSE-listed companies rose to Rs 1,00,30,703 crore during the afternoon trade.
1.17 pm: In the 50-share index, Axis Bank, Tata Motors DVR, Tata Power, BPCL and Kotak Mahindra Bank were up between 2.30 per cent and 3.89 per cent. On the other hand, Idea Cellular, Bharti Airtel, Lupin, BHEL and ITC were down between 0.74 per cent and 10.67 per cent. Nifty was up 33.35 points at 8,252. Sensex was trading 85.14 points up at 26,928.
12.32 pm: Sensex was up 72 points at 26915, while Nifty was trading 24.85 points up at 8,243. On the global front, Asian markets were trading higher, as investors looked to US employment data that could add to or detract from the case for a Federal Reserve interest rate hike this month or in July. Meanwhile, rating agency S&P stated that market may react positively to fed rate hike if it happens, then market can digest 2- 3 rate hikes this year. Report also add, Period of turbulence seen in the market due to Chinese policy maker.
11.34 am: Idea Cellular was trading 10.22 per cent down at Rs 106.25. Private equity firm Providence Equity Partners to sell about half its stake in Idea via a unit for up to Rs 1400 crore. Providence Equity Partners owns 6.8 per cent stake in Idea, as of March 31, 2016, according to Thomson Reuters data. Sensex was trading 79.44 points up at 26922, while NSE Nifty index was up 22.75 points at 8,241.
10.48 am: Sensex was up 110 points at 26,953. Brokers said sentiment remained upbeat with investors and foreign funds building up long positions, driven by a series of positive factors such as forecast of a normal to excess rainfall this monsoon, robust GDP numbers and encouraging earnings.
There is no possibility of a ‘deficient’ monsoon this year and 96 per cent chances are that the rainfall would be ‘normal to excess’, India Meteorological Department (IMD) said on Thursday.
10 am: YES Bank shares hit their new all-time high of Rs 1059.70 in the early trade. Yes Bank is planning to raise $1 billion from overseas investors in the current fiscal as it has got government approval for increasing foreign investment to 74 per cent. The bank already has an enabling approval from its board of directors to raise an additional $1 billion of equity capital and it will be done in single tranche.
9.54 am: Oil prices held steady in Asian trading on Friday after a fall in US crude inventories offset OPEC’s decision to shun production caps. The commodity initially fell on Thursday after the Organization of the Petroleum Exporting Countries ended its meeting in Vienna with no agreement, as expected, to lower or cap output despite a global supply glut.
9.47 am: Reversing its three-day downward trend, the rupee on Friday recovered by 9 paise to 67.36 against the US dollar in early trade on fresh selling of the American currency by exporters.
9.44 am: Meanwhile, benchmark BSE Sensex reclaimed 27,000-mark for the first time since October 29, 2015. The index was trading 163 points up at 27,006. Nifty was trading 40.35 points up at 8,259.30.
9.28 am: FMCG major Hindustan Unilever Ltd (HUL) on Thursday said it will split its Foods and Refreshments (F&R) business into two separate units in line with its global category structure. Shares of the company were trading 0.38 per cent up at Rs 872.
9.16 am: Sensex was trading 111.81 points, or 0.42 per cent, up at 26954.95. Nifty was up 32.10 points at 8,251.05. NMDC was trading 4.40 per cent up at Rs 90.25.
9.15 am: Sensex opened 76.09 points up at 26,919.23, while Nifty opened 27.25 points up at 8,246.20. Carmakers in Britain are making plans to get more steel from continental Europe, putting pressure on Tata Steel to secure a sale of its troubled UK plants before it loses customers. India’s Tata Steel has serious offers on the table after putting its entire UK business up for sale in March to stem heavy losses, blaming costs, market weakness and cheaper imports from countries such as China. Tata Steel was trading 0.79 per cent up at Rs 343.35.
8.11 am: The BSE Sensex and NSE Nifty are likely to open higher on Friday tracking SGX Nifty and global cues.
At 7.53am, SGX Nifty was up by 0.32% or 26.50 points at 8260.50.
Asian shares held steady on Friday as investors braced for US payrolls data that could add to or detract from the case for a Federal Reserve interest rate hike later this month or in July. Wall Street shares held firm, with the S&P 500 gaining 0.28 percent to 2,105.26, mostly led by 1.3 per cent rises in the healthcare sector on Thursday.
Sensex on Thursday closed over 129 points higher at 26,843.14 and the Nifty surpassed the 8,200-level with metal, PSU and banking stocks leading the rally, tracking a higher opening in the European markets.
Euro zone shares gave away early gains on Thursday after OPEC failed to agree an output ceiling for oil and the European Central Bank revised its inflation and growth forecasts only slightly higher.
The euro zone blue chip Euro STOXX 50 turned lower to close down 0.2 percent. The pan-European STOXX 600 and FTSEurofirst 300 edged up 0.1 percent.