The BSE Sensex and NSE Nifty edged lower on Wednesday for the second straight day as a steep fall in China’s markets revived global risk aversion, while caution ahead of key corporate earnings results also weighed on sentiment. Sensex closed 19.17 points down at 27,287.66. Nifty closed 9.95 points down at 8,251.70.
In the 50-share index, Vedanta, Bajaj Auto, Bharti Airtel, NTPC and Tata Steel gained between 1.70 per cent and 4.25 per cent. On the other hand, Dr Reddy’s Labs, Asian Paints, Asian Paints, BHEL and PNB declined between 1.80 per cent and 3.50 per cent.
Among the sectoral indices on the Bombay Stock Exchange, the BSE Realty index slid the most — 1.76 per cent, followed by the BSE Capital Goods index (down 1.04 per cent) and BSE Healthcare index (down 0.78 per cent). The BSE Metal index and BSE TECk index gained 1.17 per cent and 0.57 per cent at 7,507.28 and 6,212.80, respectively.
China’s share markets slumped 3.5 per cent, the worst daily performance in five weeks, as a correction in small caps deepened through the day.
Gaurav Jain, director, Hem Securities, said, “Markets remained under pressure following weakness in global peers. However, stable earnings performance of some key corporates like HDFC bank trimmed losses in last hour of trade. Investors prefer to stay sideline ahead of the outcome of meeting of the European Central Bank (ECB) on bond-buying program and a holiday ahead.”
HDFC Bank reported second-quarter results that met street estimates, but posted a higher-than-expected fall in net interest margins. The stock fell nearly 1 per cent but pared losses as the session progressed. The share price of HDFC Bank closed 0.03 per cent down at Rs 1094.80.
Reliance Capital shares gained over 3 per cent on Wednesday after the company informed BSE that Reliance Capital Asset Management (RCAM), a part of Anil Ambani led Reliance Capital, has signed definitive agreements to acquire Goldman Sachs Asset Management’s (GSAM) onshore business in India for Rs 243 crore in an all-cash deal.
Markets through the day
3.30 pm: Sensex closed 19.17 points down at 27,287.66. Nifty closed 9.95 points down at 8,251.70.
3.22 pm: Foreign institutional investors (FIIs) have raised their stake in Maruti Suzuki by 33 basis points to 22.08 percent in Q2FY16 from 21.75 percent in Q1FY16. On the other hand, the domestic institutional investors (DIIs) have reduced their shareholding in the company by 15 basis points to 14.43 percent at the end of September 2015 quarter from 14.58 percent as on June 30, 2015. Non Institutions were holding 7.28% stake at the end of September 2015 quarter, down 18 basis points from 7.46% as on Jun 30, 2015.
2.45 pm: Sensex was down 15.29 points at 27,291.54,. Nifty was down 14.35 points at 8,247.30. TVS Motor Company shares were trading over 2 per cent up at Rs 252. TVS Motor Company has launched ‘TVS XL 100’ in the Uttar Pradesh market.
2:05 pm: European shares fell on Wednesday, with British education publisher Pearson slumping after warning on its earnings and top Swedish banks dropping after missing third-quarter earnings expectations. Sensex dropped 73.58 points at 27,233.25. Nifty fell 29.80 points at 8,231.85.
1.28 pm: Bajaj Auto shares 3.35 per cent up at Rs 2520 after the company said that its second quarter net profit rose 57.9 per cent to Rs 933.06 crore. Sensex was down 39.42 points at 27,267.41. Nifty was down 19.45 points at 8,242.20.
1.01 pm: HDFC Bank shares trading down 0.29 per cent at Rs 1092.00 after the company reported net profit rise of 20.5 pc to Rs 2,869.5 crore for quarter ended September 30. Sensex was down 86.75 points at 27,220.08. Nifty was down 38.15 points at 8,223.50 during the same time. China’s benchmark indexes slumped roughly 3 per cent on Wednesday in their worst daily performance in five weeks as a correction in small-caps deepened through the day, triggering an afternoon sell-off in the broader market.
12.16 pm: Mphasis shares were trading 9.75 per cent up at Rs 458.85 after the company reported a 15.30 per cent increase in consolidated net profit at Rs 184.72 crore for the quarter ended September 30, 2015. Sensex was trading flat, down 13.83 points at 27,293. Nifty was down 16 points at 8,245.65.
11.42 am: Indiabulls Real Estate Ltd shares were trading 2.89 per cent down at Rs 68.95 after the company reported a two-fold increase in consolidated net profit at Rs 75.01 crore for the second quarter ended September 30 helped by sale of investments. Sensex was up 81.64 points at 27,388.47. Nifty was trading 17.80 points at 8,279.45.
10.58 am: Reliance Capital shares gained over 4 per cent in the morning trade on Wednesday after the company informed BSE that Reliance Capital Asset Management (RCAM), a part of Anil Ambani led Reliance Capital, has signed definitive agreements to acquire Goldman Sachs Asset Management’s (GSAM) onshore business in India. Sensex was up 117 points at 27424.
10.20 am: Biocon share price gained as much as 1.87 per cent in the early trade on Wednesday after the biotechnology major on Tuesday after market hours reported an over two-fold jump in its consolidated net profit at Rs 306 crore for the second quarter ended September 30, 2015. The company registered a net profit of Rs 102 crore in the same period a year ago. Sensex was up 137 points at 27,443. Nifty was up 29.30 points 8,291.
10.02 am: The benchmark BSE Sensex rose by over 75 points in early trade on fresh buying in IT, oil and gas, banking and auto stocks after better than expected earnings by bluechips. Nifty was up 19.55 points at 8,281.55.
9.46 am: Falling for the second straight day, the rupee depreciated further by 7 paise to 65.12 against the dollar in early trade on Wednesday on increased demand for the US currency from importers. The BSE IT index was up 0.43 per cent at 11,284.47. Sensex was up 67.78 points at 27,375.
9.23 am: Sensex was up 60.92 points 27,368. Nifty was up 13.40 points at 8,275.05. In the 30-share index, Bharti Airtel and Hero MotoCorp were up 2.81 per cent and 1.34 per cent at Rs 371.85 and Rs 2,640.
The BSE Sensex and NSE Nifty opened on a flat note on Wednesday tracking mixed Asian cues. Sensex opened 5.52 points up at 27,312.35. Nifty opened 3.3 points down at 8,258.35.
On Tuesday post market hours, Hero MotoCorp reported a 1.1 per cent growth in net profit at Rs 772.06 crore during the July-September quarter. Biotechnology major Biocon posted an over two-fold jump in its consolidated net profit at Rs 306 crore for the second quarter ended September 30, 2015.
Companies such as Cairn India, JSW Steel, Blue Dart, Wipro, NIIT, Noida Toll, Tata Coffee, HDFC Bank may announce their September quarter earnings on Wednesday.
The Bombay Stock Exchange and the National Stock Exchange will remain closed on Thursday on account of ‘Dussehra’.
Sensex and Nifty declined 58.09 points and 13.40 points at 27,306.83 and 8,261.65, respectively, on Tuesday.
The FIIs as per Tuesday’s data were net buyers in equity and in debt segments both, according to data released by the NSDL. In equity segment, the gross buying was of Rs 3,468.06 crore against gross sell of Rs 2,404.93 crore. Thus, FIIs stood as net buyers of Rs 1,063.13 crore in equities. In the debt segment, the gross purchase was of Rs 436.05 crore with gross sales of Rs 393.49 crore. Thus, FIIs stood as net buyers of Rs 42.56 crore in debt.
(With inputs from agencies)