The BSE Sensex closed 114.77 points down at 28106.21, while Nifty settled 34.40 points down at 8,709.55. In the 50-share index, Bosch, Gail, BPCL, Aurobindo Pharma and Reliance Industries gained between 2.52 per cent and 5 per cent. On the other hand, HCL Technologies, YES Bank, Axis Bank, Infosys and Tata Steel slipped between 0.69 per cent and 1.90 per cent.
3.01 pm: Maruti Suzuki India shares were trading 0.16 per cent up at Rs 5701.10. The company has reported 24.08 per cent rise in its production to 1,46,434 units in September 2016 as compared to 118,015 units in September 2015. Of total, the company manufactured 46,499 vehicles under mini segment (including Alto, Wagon R) in September 2016, as against 40,033 units manufactured in corresponding month of the previous year. The company manufactured 55,320 vehicles under Compact segment; 10,808 vehicles under Super Compact and Midsize; 19,564 units under Utility Vehicles segment and 13,855 units under Vans category. The company has also produced 388 vehicles under CV segment (including super carry) in September 2016.
2.50 pm: The 30-share index plunged further and was trading 150.61 points down at 28070. Nifty was down 49.95 points at 8694.
2.06 pm: Sensex was down 82 points at 28,138. Ruchi Soya Industries has signed a memorandum of understanding (MOU) with the Government of Arunachal Pradesh to boost palm oil production through development of quality palm plantations and human capacity building. Under the MOU, Ruchi Soya will promote and encourage development of oil palm in 25,000 hectares in zone IV comprising of 4 districts of the state (West Siang, East Kamang, Lower Subansri and Papumpare). Shares of the company were trading 7.97 per cent up at Rs 23.70.
1.43 pm: Benchmark indices wiped off their initial gains and were trading lower in afternoon deals. Sensex was down 26.26 points at 28194.72, while Nifty was down 5.75 points at 8738.20.
1.42 pm: Axis Bank was trading 1.39 per cent down at Rs 528.25. Read more: Angel Broking upgrades Axis Bank to ‘Buy’, raises target price to Rs 630; 5 reasons why
1.11 pm: YES Bank was trading 0.63 per cent up at Rs 1,287. The bank has signed a Memorandum of Understanding (MoU) with Ducati India, one of the most desired premium motorcycle brands, for its retail finance options for customers across all the dealerships. This agreement establishes a strategic partnership between the bank and Ducati India in the areas for customer financing.
12.29 pm: Jindal Steel shares were trading 4.43 per cent down at Rs 79.75. The company has defaulted on interest repayments to its bondholders due on September 30, 2016. Those NCDs had a coupon rate of 9.8 per cent with about two-10 year maturities with banks, provident funds believed to be the investors.
12.05 pm: Jaiprakash Power Ventures shares were trading 9.42 per cent up at Rs 4.53. Read more
11.17 am: Endurance Technologies IPO subscribed 20 per cent on the second day of offer till 11 am. Should you invest?
10.52 am: Sagar Cements was trading 0.84 per cent up after the company reported the cement production and sales figures for September 2016. The sales were up by 29 per cent on a consolidated basis and lower by 15 per cent on standalone basis. The cement production for September 2016 stood at 94,110 million tonnes (MT) on standalone basis and at 146,051 MT on consolidated basis. The cement sales for September 2016 stood at 97,829 MT and 1,48,313 MT on standalone and consolidates basis respectively in September. Sensex was up 84 points at 28305.
10.03 am: Reliance Infrastructure has signed a binding term sheet with Adani Transmission for 100% stake sale of its Transmission Assets. The entire sale proceeds shall be utilized for debt reduction. The transaction is in line with the strategic plan of monetizing non-core business and focus on major growth areas like Defence and EPC business. Shares of the company were trading 0.84 per cent up at Rs 596.
9.33 am: Indian rupee was trading 8 paise down at 66.59 in the early deals. The currency opened the day at 66.56 against its previous close of 66.50.
9.25 am: In the 30-share index, Reliance Industries, ONGC, Tata Motors and GAIL were up between 0.83 per cent and 1.50 per cent. On the other hand, Axis Bank, Infosys, Coal India and Mahindra & Mahindra were down between 0.42 per cent and 1.37 per cent.
9.15 am: The BSE Sensex opened 77.37 points, or 0.27 per cent, up at 28298.35, while NSE Nifty opened 24.75 points, or 0.28 per cent, up at 8768.70.
The BSE Sensex and NSE Nifty are likely to open higher on Thursday on the back of firm global cues. The 30-share index plunged 114 points on Wednesday after Europe turned shaky over talk of withdrawal of ECB stimulus and on profit-booking in recent outperformers. Nifty closed 25.20 points down at 8,743.95.
Below are 5 things you should know before market opens on Thursday:
1) Nifty futures on the Singapore Stock Exchange were trading 15 points, or 0.17 per cent, higher at 8785.50 in the morning trade, indicating a postive start for domestic equity markets.
2) Asian shares were trading higher on Thursday due to stronger US economic data. Hang Seng and Nikkei were trading higher by 0.29 per cent and 0.57 per cent, respectively, in the morning trade.
3) On Wall Street, the Dow Jones Industrial Average index jumped 112.58 points, or 0.6 per cent, to 18,281.03 on Wednesday. The Standard & Poor’s 500 index advanced 9.24 points, or 0.4 per cent, to 2,159.73 and Nasdaq Composite index gained 26.36 points, or 0.5 per cent, to 5,316.02.
4) Oil prices eased on Thursday but remained near June highs reached the previous session when they were buoyed by a fall in US crude inventories.
5) Shares of Reliance Infrastructure, Bank of India and Syndicate Bank will remain in focus on Thursday. Anil Ambani-led Reliance Infrastructure on Wednesday signed an agreement to sell its power transmission assets to Adani Group for over Rs 2,000 crore. Bank of India and Syndicate Bank announced their new marginal cost of funds based (MCLR) lending rates on Wednesday, a day after RBI cut repo rate by 0.25 per cent.