Sensex falls for second day, ends 143 points down; TCS, Federal Bank plunge

By: | Updated: January 12, 2016 4:02 PM

The BSE Sensex and NSE Nifty fell for the second day on Tuesday on account of selling in front line blue chip stocks taking cues from Asian markets.

BSE Sensex, NSE Nifty, Stock market today, bse, nse, dalal street, china, yuan The BSE Sensex and NSE Nifty fell for the second day on Tuesday on account of selling in front line blue chip stocks taking cues from Asian markets. (Photo: Reuters)

The BSE Sensex and NSE Nifty fell for the second day on Tuesday on account of selling in front line blue chip stocks taking cues from Asian markets. Investors also remained cautious ahead of Index of Industrial Production (IIP) data for December and CPI Inflation data scheduled to be released later in the day. Sensex closed 143.01 points down at 24,682.03, while Nifty settled 53.55 points down at 7,510.30.

In the 50-share index, NTPC, Wipro, Mahindra & Mahindra, Adani Ports and HUL gained between 0.75 per cent and 2.91 per cent. On the other hand, Idea Cellular, Punjab National Bank, Bank of Baroda, IndusInd Bank and Hindalco slid between 3 per cent and 4.15 per cent.

Sector-wise, the BSE Bankex index fell the most by 1.93 per cent followed by Realty (1.51 per cent), Metal (0.92 per cent), Oil & Gas (0.85 per cent) and TECk (0.80 per cent).

Among the 30-Sensex constituents, 21 ended lower, while 9 finished in the positive zone.

In scrip specific development, CMI gained over 17 per cent after a global emerging market fund bought nearly 15 lakh shares at Rs 304 apiece.

Aviation stocks like Jet Airways, SpiceJet and InterGlobe Aviation gained 3.20 per cent, 0.74 per cent and 0.65 per cent, respectively, on further fall in crude prices as lower crude prices will boost companies’ margins.

Market breadth for the day remained negative and advances to declines ratio for Nifty stood at 14:36 for the day. Volumes for Nifty stocks stood at 1,688 lakh, lower than Monday’s volumes of 1,947 lacs for Nifty stocks and in line with its medium term average volumes of 1,700 lakh for Nifty stocks.

Asian equity markets ended mostly in red on Tuesday in cautious trading, as oil took another tumble and Chinese stocks seesawed before the release of trade data on Wednesday, which is expected to show further declines in both exports and imports.

Hong Kong shares finished down as technology and financial shares weighed, and following a sharp rise in Hong Kong short-term borrowing costs over the last two days.

Asian IndicesLast Trade             Change in PointsChange in %   
Shanghai Composite3,022.866.160.2
Hang Seng19,711.76-176.74-0.89
Jakarta Composite4,512.5347.041.05
KLSE Composite1,641.373.780.23
Nikkei 22517,218.96-479-2.71
Straits Times2,691.78-17.07-0.63
KOSPI Composite1,890.86-3.98-0.21
Taiwan Weighted7,768.45-19.97-0.26

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Markets through the day

3.30 pm: Sensex closed 143.01 points down at 24,682.03, while Nifty settled 53.55 points down at 7,510.30.

2.51 pm: Shares of JSW Steel fell over 1 per cent after the company said that crude steel production was lower in Q3 FY16 due to planned shutdown of one Blast furnace each at all three locations viz. Vijayanagar, Dolvi and Salem; for capacity enhancement.

2.33 pm: Federal Bank shares fell as much as 9 per cent intraday after the bank registered 38.5 per cent fall in its net profit figures for the quarter ended December 2015. The bank posted a net profit of Rs 162.72 crore for the quarter ended December 2015 as compared to Rs 264.69 crore in the corresponding quarter a year ago. The BSE Bankex was down 1.85 per cent at 17,886.84. Sensex was down 179 points at 24,646.

2.00 pm: Shares of Omkar Speciality Chemicals were up over 1 per cent at Rs 237.50. The company has received Environment Clearance for its Manufacturing Unit in Ratnagiri, Maharashtra.  Sensex was down 144 points at 24,680.

1.41 pm: The top gaining sectoral indices on the BSE were Cosumer Durables up by 0.17 per cent and Healthcare up by 0.16 per cent. On the other hand, BSE Realty index was down by 1.73 per cent, Bankex was  down by 1.54 per cent, TECk down by 1.26 per cent, Metal down by 1.22 per cent and Information Technology down by 1.01 per cent were the top losing indices on BSE.

1.18 pm: TCS hit new 52-week low of Rs 2,313 ahead of Q3 results. Sensex was down 191 points at 24,634. READ: TCS to announce Q3 results today, what brokerage houses are expecting

12.59 pm: Sensex and Nifty extended their losses in noon deals as concerns in China continue to haunt. Moreover, market participants remained cautious ahead of Index of Industrial Production (IIP) for December and CPI Inflation data to be released later in the day. Depreciation in Indian rupee too weighed down sentiments. Sensex was down 151 points at 24,674.

12.36 pm: Tata Consultancy Services shares were trading 1.78 per cent down at Rs 2320.90 ahead of its third quarter results to be announced later in the day. Sensex was trading 137.89 points down at 24,687.15. NSE Nifty was trading 50.55 points down at 7,513.30.

12.16 pm: Indian Bank shares were trading 0.19 per cent up at Rs 105.50 after the state-owned bank said it plans to raise Rs 1,100 crore from bonds to fund business growth. The bank plans to raise Basel III compliant Tier II Bonds for Rs 1,100 crore in one or more tranches in the current or subsequent years based on the requirement. Sensex was trading 204.11 points down at 24,620.93. NSE Nifty was trading 60.70 points down at 7,503.15.

12.02 pm: Sensex was down 166.27 points down at 24,658.77. Nifty was down 48.55 points at 7,515. Omax Autos has sold its remaining 51 per cent stake in its subsidiary company ‘Gmax Auto’. The shares transfers in this regard have been registered on January 11, 2016 by the board of directors of Gmax Auto. Consequently, the company has no stake in Gmax Auto and it is no more a subsidiary of the company. Shares of Omax Autos were trading nearly 10 per cent up at Rs 90.25.

11.35 am: The market breadth on BSE was mildly positive, out of 2,545 stocks traded, 1,259 stocks advanced, while 1,124 stocks declined on the BSE

11.18 am: Japan’s Nikkei fell further was trading 504.37 points, or 2.85 per cent down at 17,193.59. The NSE Nifty index was down 0.41 per cent at 7,532. In the 50-share index, NTPC, Larsen & Toubro, Adani Ports, BHEL and GAIL were up between 0.85 per cent and 1.95 per cent. On the other hand, Axis Bank, Ultratech Cements, ONGC, Cairn and YES Bank were down between 1.80 per cent and 2.22 per cent.

11.03 am: Japan’s Nikkei index was down 455.41 points, or 2.57 per cent, at 17242.55. Sensex was down 0.49 per cent at 24,702.

10.38 am: Sensex was down 114 points, or 0.56 per cent, at 24,710.93. US crude tumbled below $31 a barrel on Tuesday, extending a sell-off that has sent the commodity to more than 12-year lows, hit by a global supply glut, a strong dollar and tepid demand.

10.14 am: Stock brokers said widening of positions by cautious participants ahead of key economic data — industrial production (IIP) numbers for December and inflation — to be released later in the day and a mixed trend at other Asian bourses influenced sentiment. Sensex was down 0.09 per cent at 24,801.

9.56 am: Shares of NIIT Technologies gained over 5 per cent in the early trade on Tuesday after the company informed BSE that it has been selected as a strategic partner by Ofcom, the UK’s communications regulator. NIIT Technologies will help Ofcom to manage its infrastructure and application systems and offer a customer focused service to improve the users’ experience of ICT services. The value of the contract is 23 million pound over a six year period which includes an initial term of 4 years and extensions.

9.44 am: The rupee regains 11 paise to 66.70 against the dollar in early trade at the Interbank Foreign Exchange market on fresh selling of the US currency by exporters and banks amid a higher opening in the domestic equity market. Sensex was down 13.36 points at 24,811.68

9.33 am: Shares of National Building Construction Corporation (NBCC) were trading 1.55 per cent up at Rs 1,004.60 in the early trade. In a bid to redevelop two stations – Gomtinagar in Lucknow and Bhubaneswar in Odisha, Indian Railways is reportedly in discussion with NBCC. It will be a turnkey project, but the size of the deal, among other details, is yet to be worked out. Both projects are part of the Railways’ plans to modernize as many as 400 stations.

9.25 am: PI Industries shares gained over 1 per cent after the company informed BSE that it has commenced the commercial production at its third unit located at Sterling SEZ facility, Jambusar in state of Gujarat with effect from January 11, 2016. Sensex was up 26.21 points, or 0.11 per cent, at 24,851.25.

9.20 am: Unitech shares fell as much as 9 per cent in the early trade on Tuesday after a Delhi court on Monday sent Unitech Ltd chairman and its two managing directors to 14-day judicial custody in alleged cheating cases filed by two investors.

9.15 am: Sensex opened 37.89 points up at 24862.93. Nifty opened 23.35 points up at 7587.20. Vivimed Labs on Monday informed BSE that the Board of Directors at its meeting held on January 11, 2016 has approved the sub division proposal of company’s equity shares from the existing face value of Rs 10 per equity share to Rs 2 per equity share subject to the approval of company’s shareholders, which is proposed to be obtained through Postal Ballot & E-Voting. Shares of Vivimed Labs were trading 3.09 per cent up at Rs 483.40 in the opening trade.

8.43: The BSE Sensex and NSE Nifty are likely to open in negative on Tuesday tracking SGX Nifty and Asian markets. Investors are also worried over the extent of China’s economic slowdown and its impact on emerging markets.

At 8.26 am (IST), SGX Nifty was down 17 points, or 0.22 per cent, at 7,568.

Japan’s Nikkei fell 1.3 per cent after a market holiday on Monday, hitting a three-month low and down over 8 per cent so far this year while Chinese stocks swung around in volatile opening trades.

On Wall Street, the S&P 500 managed to stabilise on Monday after three straight days of one-per cent-plus declines, ending the day up 0.1 per cent.

The BSE Sensex on Monday dropped by 109 points to end at a fresh 19-month low of 24,825.04, tracking a weak trend in other Asian markets on renewed China’s growth concerns. The 50-issue NSE ended at 7,563.85, down 37.50 points or 0.49 per cent.

As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs 1,319.24 crore on Monday. Domestic institutional investors bought shares worth Rs 900.99 crore.

Tata Consultancy Services (TCS), DCB Bank and IndusInd Bank will announce their Q3 results on Tuesday.

Traders will be eyeing the industrial production and inflation data to be released later in the day after market hours

(With agency inputs)

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