1. Markets end flat; Sensex closes below 30000, Nifty holds 9300; Airtel, Hero Moto, banks drag

Markets end flat; Sensex closes below 30000, Nifty holds 9300; Airtel, Hero Moto, banks drag

Indian stock markets opened slightly higher on Tuesday, with the benchmark BSE Sensex again topping the 30,000-mark on sustained buying by domestic financial institutions, but failed to hold on to the early morning gains.

By: | Updated: May 9, 2017 4:26 PM

Indian stock markets opened slightly higher on Tuesday, with the benchmark BSE Sensex again topping the 30,000-mark on sustained buying by domestic financial institutions and tracking mixed Asian cues in the early trade. But the index failed to sustain the gains later and fell below the 30,000 level, but was still trading in green. Meanwhile, the broader NSE Nifty was holding well above the 9,300-mark. Almost all the sectoral indices, such as realty, capital goods, consumer durables, metal, power, etc were trading firm, rising as much as up to 2%. Elsewhere, Asian stocks were trading mixed, while the Wall Street ended flat on Monday, after the run up on the previous day on the French election results.

Here are the live updates of the day:

04:20 pm: Bringing to an end its 7-day falling streak, gold today recovered marginally on fresh buying by local jewellers, rising Rs 20 to hit Rs 28,570 per 10 grams, aided by a firm global trend. Silver, on the other hand, continued its slide on slack demand from industrial units and coin makers. (Read More)

03:35 pm: Markets close flat, BSE Sensex up 0.02% at 29,933.25 points, the broader NSE Nifty ends up 0.03% at 9,316.85 points. L&T (up 2%) tops the charts on Sensex, while Hero Moto Corp (down 3.07%) and Bharti Airtel (down 1.75%) remain subdued ahead of Q4 earnings.

03:00 pm: Godrej Consumer Products Ltd shares surge 9.51% to Rs 1921.2, earlier in the day, the stock hit an all-time high of Rs 1958.35 after the company reported its fiscal fourth-quarter net profit jumped more than three-fold on-year. (Read More)

02:20 pm: Investors cautious, markets still numb, BSE Sensex up 0.14% at 29,967.24 points and broader NSE Nifty up 0.14% at 9,326.8 points. L&T (up 2.24%) lead the gains on Sensex while Hero Moto Corp and Bharti Airtel still down 3.12% and 1.15% respectively ahead of earnings.

01:50 pm: The benchmark index for real estate stocks, NSE’s Nifty Realty continue to trade in green, hit a fresh all-time high at 270.55 points, Housing Development and Infrastructure Ltd shares leading the gains (up 4.74%).

12:50 pm: Markets continue to trade flat, the benchmark BSE Sensex is up 0.12% at 29,962.7 points and the broader Nifty 50 up 0.12% at 9,325.55 points. Shares of Bharti Airtel (down 1.65%) and Hero Moto Corp (down 2.27%) are trading in red ahead of earnings.

12:30 pm: Despite the benchmark indices trading flat, the Nifty Next 50 index of NSE has some exceptional gainers.  ABB hit a 10-year high at Rs 1,593.8; Godrej Consumer products shares hit all-time high at Rs 1,905 and Proctor & Gamble Hygiene and Health Care Ltd shares hit all-time high at Rs 8,055.95.

12:10 pm: Hero MotoCorp (down 1.79%), Bharti Airtel (down 1.59%) and ICICI Bank (down 0.82%) among the top losers on BSE Sensex, all other PSU bank stocks continue to decline except IDBI Bank and Syndicate bank on NSE’s Bank Nifty index

11:50 am: Indian shares were flat on Tuesday as investors booked profits in recent outperformers such as Ambuja Cements Ltd and ACC Ltd while banks erased gains from the previous session’s rally. Caution also prevailed ahead of a late spell of quarterly earnings, with Bharti Airtel slated to announce results later in the day. Asian shares were also subdued as investors looked for the next catalyst after France’s presidential election. (Read More)

11:25 am: Gold prices were higher by Rs 51 to Rs 28,253 per 10 gram in futures trade as participants built up fresh positions, taking positive cues from global markets. At the Multi Commodity Exchange, gold for delivery in far-month August rose by Rs 51, or 0.18 per cent, to Rs 28,253 per 10 gram, in a business turnover of two lots. Likewise, the yellow metal for delivery in June moved up by Rs 44, or 0.16 per cent, to Rs 28,135 per 10 gram in 394 lots. (Read More)

10:55 am: The banking stock index of NSE, Bank Nifty falls 84 points or 0.37% to 22,682.75 points; most of the major stocks are trading in red including the biggest lender SBI (down 0.97%), ICICI Bank (down 1.24%), Bank of Baroda (1.77%), PNB (down 2.47%) and Canara Bank (down 3.67%).

10.20 am: Benchmark indices barely holding in green; BSE Sensex up 0.11% at 29,959 points and NSE Nifty up 0.08% at 9,321.75.

10.17 am: The Rupee is under pressure today, falling 20 paise against the US dollar in early trade, on increased demand for the American currency from importers and sustained foreign fund outflow. The dollar also gained against other currencies on increased expectations of another interest rate hike in the US.

10.15 am: Sensex, Nifty pare some morning gains, but still trading in green (Read more).

10.10 am: Textbooks publisher S Chand and Company makes debut on the bourses on Tuesday; lists at Rs 707 on the BSE against the issue price of Rs 670, up 5.52% (Read more).

9.45 am: Markets open marginally higher, supported by robust corporate earnings, despite the slump in rest of the Asian markets amid the ongoing tumble in oil prices. The benchmark BSE Sensex opens positive, up 0.14% at 29,963.39 points while the broader NSE Nifty 50 opens up 0.09% at 9,322.4 points. The top gainers on BSE Sensex include Tata Steel (up 1.04%), ITC (up 1.04%), Axis Bank (up 0.83%), Reliance Industries (up 0.63%), TCS (up 0.58%), while among the top losers are ICICI Bank (down 1.24%), Bharti Airtel (down 0.87%) and CIPLA (down 0.84%). Bharti Airtel is about to announce the Q4 earnings later today.

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