The BSE Sensex pared some of their initial gains on Thursday and closed 66.12 points up at 26,220.95. On the similar lines, NSE Nifty closed 2 points up at 7,590.90. Meanwhile, India’s manufacturing sector output slipped to a seven-month low of 51.2 in September, as order flow turned sluggish amid “difficult economic climate”, a Nikkei survey said on Thursday.
Chinese manufacturing activity also contracted for second consecutive month in the month of September. Official PMI reading for China logged 49.8 in September after a 49.7 logged in August month.
Sensex opened at 26,344.19 and touched a high and low of 26,431.80 and 26,168.71, in trade. Nifty opened 7,992.05 and hit a high and low of 8,008.25 and 7,930.65.
In the 50-share index, UltraTech Cements, Lupin, Zee Entertainment, Sun Pharma and Adani Ports gained between 2 per cent and 4 per cent. On the other hand, HCL Technologies, BHEL, GAIL, Maruti and Vedanta declined between 1.45 per cent and 12.55 per cent.
Gaurav Jain, director, Hem Securities, said, “Indian benchmarks traded in a narrow range throughout the day. Firm global markets supported the indices to open the day higher however washed off major gains as investors prefer to unwind positions ahead of the long weekend. Strong rupee kept the sentiment positive.” Domestic equity markets will remain closed on Friday on account of Gandhi Jayanti.
Shares of infra major IDFC nosedived on Thursday following the demerger of IDFC with IDFC Bank. IDFC was down more than 57% on NSE intraday. IDFC Bank, which started functioning as a full fledged bank from Thursday with over 20 branches, will get get listed separately later.
HCL Technologies remained under pressure throughout the day after the company gave a weak pre-quarter guidance for the first quarter ended September 2016 (1QFY2016), which indicated that revenues to be reported in US dollar will have an adverse impact of 80 basis points on account of sharp depreciation of multiple currencies against US dollar. The IT major follows July-June as the financial year.
Among the sectoral indices on BSE, the BSE Healthcare index gained the most — 1.46 per cent, followed by BSE Consumer Durables (up 0.89 per cent) and BSE Capital Goods (up 0.73 per cent). BSE Realty and BSE Power index declined 1.82 per cent and 0.55 per cent, respectively. Overall market breadth remained slightly positive on the BSE with 1,381 advances and 1,306 declines.
The FIIs were net buyers in the cash market segment on September 30, bought shares worth Rs 116.08 crore. The DIIs on the other hand stood net sellers on Wednesday, sold shares worth Rs 191.78 crore in the capital markets segment.
Markets through the day
3.30 pm: The BSE Sensex pared some of their initial gains on Thursday and closed 66.12 points up at 26,220.95. On the similar lines, NSE Nifty closed 2 points up at 7,590.90. Sensex opened at 26,344.19 and touched a high and low of 26,431.80 and 26,168.71, in trade. Nifty opened 7,992.05 and hit a high and low of 8,008.25 and 7,930.65.
3.27 pm: The IT index at National Stock Exchange (NSE) has rallied by nine per cent, outperforming the remaining 10 sectoral indices, during the three months ended September 30, primarily on account of weakness in the rupee against the dollar. The 10-share IT index of the NSE has given a return of 9.01 per cent during July-September period, an analysis of indices showed.
3.17 pm: Sensex was up 43 points at 26,198. Dishman Pharmaceuticals shares climbed over 10 per cent in the afternoon trade.
2.43 pm: Mahindra & Mahindra (M&M), India’s leading SUV manufacturer, has reported its auto sales numbers which stood at 42,848 units during September 2015 as against 44,911 units during September 2014, registering a fall of 5 per cent. The share price of M&M was down 0.29 per cent at Rs 1,257.10. BSE Sensex was up 58 points at 26,213.
2.14 pm: Infosys shares were trading 1 per cent up at Rs 1,172.05. Infosys, a global leader in consulting, technology, outsourcing and next-generation services, will create new Internet of Things (IoT) solutions, which will help derive practical benefits from massive amounts of data generated through connected devices in the industrial enterprise. Infosys has collaborated with GE, a digital industrial company, and others to develop these solutions, designed to help manufacturers and other industrial enterprises improve asset efficiency and build more intelligent linkages between design, production and field testing. The BSE IT index was down 0.15 per cent at 11,560. Sensex was up 68.27 points, or 0.26 per cent, at 26,223. NSE Nifty was flat at 7,949.25.
1.27 pm: IDFC shares tanked over 50 per cent on Thursday ex-demerger of IDFC bank and IDFC. IDFC shareholders would get an equity share in IDFC Bank for every equity share in IDFC, according to the company filing in BSE. The IDFC management plans to list IDFC bank by November 6. IDFC shares opened at Rs 69 apiece on BSE compared to its previous close of Rs 141.30. Sensex was up 83.51 points 26,238.
1.11 pm: Meanwhile, Atul Auto has reported 3.69 per cent growth in sales for the month of September 2015 at 4,302 units as compared to 4,149 units sold in September 2014. The company’s total sales from April to September this year rose by 6.36 per cent and stood at 20,763 units as compared to 19,521 units in the same period last year. Atul Auto shares were trading 0.56 per cent up at Rs 463.10 in the afternoon trade. Sensex was up 102 points at 26,257.
12.32pm: Sensex up 122.80 points at 26,277.63. Nifty up 19.95 points at 7,968.85. Eicher Motors shares were trading up 1.87 per cent at Rs 18,124.15 after its two-wheeler division, Royal Enfield, reported 58.78 per cent jump in total sales at 44,491 units in September.
12.04 pm: Sensex up 113.40 points at 26,268.23. Nifty up 12.75 points at 7,961.65. BSE Healthcare index was up 1.43 per cent
11.32 am: Maruti Suzuki India sold total of 1,13,759 units in September 2015, registering a growth of 3.7 per cent. This includes 1,06,083 units in the domestic market and 7,676 units in exports. The company had sold a total sales of 1,09,742 units in September 2014. Shares of Maruti Suzuki were down 1.90 per cent at Rs 4,600. Sensex was up 106 points at 26,261.
11.19 am: Shares of metal companies were trading in the green. Jindal Steel and Hindalco went up around 1 per cent each. Sensex was up 59.33 points at 26,214.
10.53 am: Suven Life Sciences has secured one product patent from New Zealand, one product patent from Singapore and one product patent from USA corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2032. Shares Suven Life Sciences were trading 3.44 per cent up at Rs 276.45 apiece.
10.34 am: Meanwhile, Indian manufacturing growth slowed to seven-month low in September. Sensex pared some gains and was trading 116 points up at 26,271.
10.21 am: The rupee appreciated by 9 paise to 65.49 against the dollar in early trade on sustained selling of the American currency by exporters and banks amid increased foreign fund inflows. Share price of Infosys and Sun Pharma were up 3 per cent and 2.71 per cent in the morning trade. The BSE IT and BSE Healthcare index were up 0.78 per cent and 1.47 per cent at 11,667 and 18,040.
10.04 am: Shares of Eveready Industries gained over 3 per cent in the morning trade on reports that the company has hike battery prices by Re 0.50 per piece (5 per cent).
10.01 am: Brokers said sentiments turned bullish after RBI Governor Raghuram Rajan sprang a surprise by announcing a biggest-than-expected interst rate cut of 0.50 per cdent to 6.75, lowest in four-and-half-years to boost country’s economic growth. Sensex was up 223.80 points at 26378. Nifty was up 51.80 points at 8,000.
9.43 am: Kalpataru Power Transmission (KPTL) shares gained over 3 per cent in the morning trade on Thursday after the company informed stock exchanges that it has bagged two contracts worth Rs 781 crore. The company has secured one contract for transmission line projects in international geographies namely Malawi and Kuwait of approximately Rs 594 crore. The company has bagged the second contract for a pipeline project worth around Rs 187 crore from ONGC. In the year till date, the company has secured orders of around Rs 3,460 crore, which is almost three times of order inflow of last year in the same period.
Sensex was up 0.82 per cent at 26,367.
9.19 am: Sensex was up 271.81 points at 26,426.64. Nifty was up 45 points at 7,993.05. In the 50-share index, Vedanta, GAIL, Infosys, Adani Ports and Sun Pharma were up between 1.50 per cent and 2 per cent. On the other hand, HCL Tech, Tech Mahindra, Idea, Bhel and Tata Motors fell between 0.10 per cent and 14.50 per cent.
Domestic equity markets opened in green tracking firm global cues. Sensex opened 189.36 points up at 26,344.19. Nifty opened 43.15 points up at 7,992.05.
Shares of HCL Technologies will remain in focus on Thursday. For 1QFY2016, the company has given a pre-quarter guidance indicating that revenues to be reported in US dollar to have an adverse impact of 80 basis points on account of sharp depreciation of multiple currencies against US dollar. HCL Tech shares were down around 10 per cent in the opening trade.
Asian stocks rose on Thursday, drawing strength from overnight gains in global equities markets following their weakest quarter in four years, and a China factory activity survey that came in slightly better than initially expected.
The final Caixin/Markit China Manufacturing Purchasing Managers’ Index (PMI) for September was slightly down from August but was a touch higher than a preliminary reading, data released on Thursday showed.
Back home, Sensex and Nifty gained over 1 per cent on Wednesday following upbeat global markets. The sentiments also got a boost after the Reserve Bank of India went for a bigger-than-expected rate cut on Tuesday. Sensex closed 376.17 points up at 26,154.83. Nifty advanced 105.60 points at 7,948.90.
(With inputs from agencies)