Sensex closes 47 points down, Nifty settles at 8,203; Tata Motors falls, Escorts gains

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New Delhi | Updated: June 22, 2016 4:00:13 PM

Sensex settled 47.13 points down at 26765.65, while Nifty index closed 16.20 points down at 8,203.70

BSE Sensex and NSE NiftySensex settled 47.13 points down at 26765.65, while Nifty index closed 16.20 points down at 8,203.70 (Reuters)

CLOSING BELL

The BSE Sensex and NSE Nifty swung between gains and losses on Wednesday and ended the trade in red as Brexit worries continued to affect investors sentiments globally.

Sensex settled 47.13 points down at 26765.65, while Nifty index closed 16.20 points down at 8,203.70.

Losses however remained capped with an UNCTAD report stating that India’s foreign direct investment (FDI) is likely to cross $60 billion this year on favourable policy environment even as the FDI flows globally are set to witness a decline. The report said, the large increase of announced Greenfield investments in manufacturing industries may provide further impetus to FDI this year.

In the 50-share index, Adani Ports, Dr Reddy’s Labs, Coal India, Lupin and Ambuja Cements jumped between 0.97 per cent and 2.25 per cent. On the other hand, Bharti Infratel, Tata Motors DVR, Tata Motors, GAIL and Bosch fell between 1.41 per cent and 3.21 per cent.

Vinod Nair, head of research, Geojit BNP Paribas Financial Services said, “The market extended its losses due to the uncertainty over Brexit and surge in oil price.

3.21 pm: Escorts shares soared as much as 15.42 per cent on Wednesday and hit their highest level in nearly six years since July 2010. Read more

2.56 pm: Dr Reddy’s Labs was trading 1.82 per cent up at Rs 3,105.

2.54 pm: Indian Oil Corporation (IOC) will join hands with Coal India and NTPC to form a joint venture called Hindustan Urvarak and Rasayan. The new entity will revive three sick fertiliser plants at Sindri (Jharkhand), Gorakhpur (Uttar Pradesh) and Barauni (Bihar), at a total investment of around Rs 20,000 crore. Fertiliser Corporation of India will also have a small share in the venture. While the overall investment will be around Rs 20,000 crore, they are looking at a debt-equity ratio of 1:3; meaning around Rs 6,000 crore will come from these entities. Shares of Indian Oil was trading 0.08 per cent up at Rs 412.95. Coal India and NTPC were up 1.29 per cent and 0.23 per cent at Rs 316.80 and Rs 152.15, respectively.

2.47 pm: Sensex and Nifty was trading 83.13 points and 28.50 points down at 26,722 and 8,191, respectively.

2.04 pm: A public offer from a Bangalore-based company Quess Corp is going to hit Dalal Street this month. The company, promoted by Ajit Isaac and Thomas Cook (India), will launch its initial public offering, on June 29, 2016. The issue will close on July 1, 2016.

1.29 pm: Sensex was down 37 points at 26,775. On global front, Asian markets were trading mostly higher, with investors focused on Thursday’s vote on Britain’s possible withdrawal from the European Union and after relief over US Federal Reserve Chair Janet Yellen’s statement that the Fed would remain cautious in raising interest rates.

1.05 pm: Meanwhile, Cabinet cleared the new textile policy to boost the sector, according to CNBC TV18 reports quoting sources. Read more

12.43 pm: Force Motors inaugurated its brand new facility in Pune, entailing an investment of Rs 100 crore, to supply engines and axles to Mercedes-Benz India. Shares of Force Motors were trading 1.38 per cent up at Rs 40.55. Benchmark indices continued to trade flat in the afternoon trade.

11.45 am: Shares of Hester Biosciences surged 20 per cent on 100 per cent FDI approval in animal husbandry.

Also read: ‘Metal, auto, IT companies to take a hit if Brexit happens’

11.39 am: Siemens has won an order worth approximately Rs 83 crore from Indian Railways’ Diesel Locomotive Works (DLW), Varanasi. The order is to design, supply and install 40 Alternating Current (AC) Traction Systems for dual-cab high horsepower diesel engine locomotives.

11.34 am: Sentiment at Asia’s biggest companies climbed to its highest in a year in the second quarter of 2016, helped by signs that China’s economy was slowly steadying, a Thomson Reuters/INSEAD survey showed.

11.00 am: Tech Mahindra has informed that the Investment Committee of Board of Directors of the Company on June 21, 2016 approved the proposal to acquire Bio Agency, a UK based entity.

10.55 am: IDBI Bank is seeking approval from shareholders to raise Rs 8000 crore through an equity offer in one or more tranches. The bank will explore all routes including QIP, preference share issue, rights issue or follow-on public issue to raise the funds. Shares of the bank were trading 0.85 per cent down at Rs 70.15.

10.16 am: The rupee depreciated further by 11 paise to 67.59 against dollar in early trade on Wednesday. Sensex was up 35.79 points at 26,844.

Read more: How 7th pay commission implementation, monsoon will help V-Guard, Nerolac Paints

9.52 am: Max Ventures and Industries shares listed on bourses at Rs 45. Max Ventures and Industries is one of the three new holding companies formed after demerger of the erstwhile Max India Limited

9.21 am: Sensex in green. The index was trading 16.75 points up at 26,829. In the 30-share index, Dr Reddy’s Labs, ONGC and Cipla were up 1 per cent, 0.57 per cent and 0.45 per cent, respectively.

9.19 am: According to reports, Cabinet may consider new textile policy today. Textile stocks such as Aarvee Denim was trading 8.74 per cent up at Rs 86.50. Lakshmi Machine Works was trading 1.33 per cent up at Rs 3,534.40.

9.15 am: The BSE Sensex opened 21.10 points, or 0.08 per cent down at 26791.68, while Nifty 50 index opened 6.25 points down at 8213.65.

8.21 am: The initial share sale of country’s second largest CNG retailer Mahanagar Gas was oversubscribed by 1.10 times on the first day of the offer on June 21.

8.13 am: The BSE Sensex and NSE Nifty are likely to open in red on Wednesday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.

Asian peers, Hang Seng and Nikkei were trading down by 0.40 per cent and 0.99 per cent, respectively.

Read more: Tata Motors, Tech Mahindra, Asian Paints among 11 stocks in focus on June 22

On Wall Street, US S&P 500 Index gained 0.27 percent but was still below an 11-month high touched earlier this month.

Back home, equities slipped back into the red on Tuesday after a two-day winning run as the benchmark BSE Sensex declined by 54.14 points to 26,812.78, dragged down by foreign fund outflows and investors booking profit in recent gainers amid caution ahead of crucial British referendum vote.

(With inputs from agencies)

 

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