The BSE Sensex and NSE Nifty closed lower in a choppy trade on Tuesday as overall market sentiment remained cautious due to continued worries about China stock markets. Sensex fell 43.01 points to end at 25,580.34, while Nifty shed 6.65 points to settle at 7,784.65.
Earlier, the markets opened in the green, however, they later pared gains on continued sell-off in Asian and European markets, which fell for the second day on Chinese concerns and tensions in the Middle East.
“Volatility continued to plague Indian markets as key benchmark indices oscillated between the negative and the positive territory, following Monday’s sell off in global markets. Both the Nifty and the Sensex, fell to a two week low in mid-morning trade only to recover and close the day marginally in the red, near the flat line. Banking and auto stocks continued to witness selling pressure while energy, metals and media stocks attracted buying interest,” Gaurav Jain, director, Hem Securities said.
In the 50-share index, PNB(down 1.95 per cent), Bank of Baroda (down 1.92 per cent), PowerGrid(down 1.56 per cent), Coal India (down 1.54 per cent) and HUL(down 1.45 per cent) were among the major losers. On the other hand, Tata Steel (up 6.15 per cent), Vedanta (up 3.65 per cent), GAIL (up 3.04 per cent), Asian Paints (2.34 per cent) and Hindalco (up 2.29 per cent up) were among the top gainers.
Coal India was the worst Sensex performer by tumbling 1.35 per cent, followed by SBI at 1.22 per cent.
Among BSE sectoral indices, IT suffered the most by losing (0.42 per cent) followed by teck (0.41 per cent), bankex (0.32 per cent), auto (0.31 per cent) and FMCG (0.10 per cent).
Meanwhile, foreign investors sold shares worth Rs 667.15 crore on Monday, as per provisional data.
Chinese stock markets remained volatile on Tuesday as the Shanghai index dropped more than three per cent on worries over slowing growth before erasing most of the losses, a day after authorities halted trading to arrest falling prices. The benchmark Shanghai Composite Index ended down only 0.26 per cent at 3,287.71, after tumbling as much as 3.24 per cent during the day.
The Shanghai market slumped 6.86 per cent on Monday after the release of weak manufacturing data heightened worries about the health of the world’s second-largest economy, sparking a wave of selling of global equities.
Asian markets mostly fell to end another volatile session, a day after a global sell-off that saw trading suspended in Chinese shares.
Markets through the day
3.30 pm: Sensex ends 43 points down at 25,580, Nifty50 settles at 7,784; Tata Steel gains over 6%, IGL up over 5%
3.26 pm: Indraprastha Gas Ltd shares were trading 6.04 per cent up at Rs 551.00 after the Supreme Court upheld a December ruling that temporarily banned the sale of large diesel cars in New Delhi. Sensex was trading 46.32 points down at 25,577.03. NSE Nifty bwas trading 6.35 points down at 7,784.95.
3.01 pm: Manali Petrochemicals shares were trading 1.91 per cent up at Rs 32.00 after the company resumed operation at its Plant 1 and the production is being ramped up to the full levels. Production at Plant 2, which was being operated since the second week of December 2015 at a lower load with the available material has also been scaled up with resumption of Propylene supplies by CPCL to both the Plants. Sensex was trading 29.33 points down at 25,594.02. NSE Nifty was trading 3.95 points down 7,787.35.
2.33 pm: Tata Steel shares were trading 6.71 per cent up at Rs 274.25. Sensex was up 11.67 points at 25,635.02. NSE Nifty was trading 7.60 points up at 7,798.90.
2.10 pm: Stone India were trading 5.10 points or 5.28 per cent up at Rs 101.65 after it received an order for design, maintenance, supply, installation and commissioning of 97 nos. Passenger Escalators valuing Rs 20.62 crore from Lucknow Metro Rail Corporation. Sensex was trading 17.65 points up at 25,641.00. NSE Nifty was trading 11.05 points up at 7,802.35.
1.53 pm: European shares bounced back on Tuesday following a rally in mining and telecom stocks and some stabilisation in Chinese markets, a day after poor Chinese factory numbers triggered a sharp sell-off in local equities and hit world markets. The pan-European FTSEurofirst 300 index was up 1 per cent at 1,415.77 points after slumping 2.5 per cent on Monday, its biggest one-day drop since early December. Sensex was trading 6.31 points down at 25,617.04. NSE Nifty was trading 5.60 points up at 7,796.90.
1.35 pm: Cerebra Integrated Technologies shares were trading 2.30 per cent up at Rs 22.25 after the company informed the bourses that it is in the process of setting up one of India’s largest e-Waste facility on a 12 acre industrial land at Narasapura near Bangalore will be ready for operations from April 2016 and targets revenue turnover of rupees 100 crore by 2018. Sensex was trading 31.70 points up at 25,655.05. NSE Nifty was trading 10.65 points up at 7,801.95 during the same time.
1.03 pm: Grasim Industries shares were trading 0.66 per cent up at Rs 3,682 after it announced merger of Aditya Birla Chemicals (India) Ltd (ABCIL) with itself. Sensex was trading 21.04 points up at 25,644.39. Nifty was trading 13.95 points up at 7,805.25.
12.33 pm: JSW Energy shares were trading 4.10 per cent down at Rs 81.80. Sensex was trading 0.62 points down at 25,622.73. NSE Nifty was trading 3.90 points up at 7,795.20.
12.06 pm: Texmaco Rail & Engineering shares were trading 3.51 per cent up at Rs 151.85 after it said that it has entered into definitive agreement and acquired 55 per cent shareholding in Bright Power Projects (India). Pursuant to such acquisition, Bright Power has become a subsidiary of the company with effect from January 4, 2016. Sensex was trading 48.39 points down at 25,574.96. Nifty was trading 9.55 points down at 7,781.75.
11.43 am: Sensex was trading 104.15 points down at 25,519.20. NSE Nifty was trading 25.10 points down at 7,766.20. Wipro shares were down 0.53 per cent at Rs 555.00 after India’s third-largest software firm reshuffled its top management, appointing Abid Ali Neemuchwala as the new chief executive in place of T K Kurien, who has been elevated as executive vice chairman.
11.23 am: MBL Infrastructures shares were trading 1.53 per cent down at Rs 219.50 even after it bagged two projects aggregating to Rs 609.12 crore. Sensex was down 59.23 points at 25,564.12. NSE Nifty was down 21.65 points at 7,769.65.
10.51 am: MOIL shares were trading 1.24 per cent up at Rs 216 after it slashed prices of various grades of manganese ore by up to 10 per cent for the January-March quarter. Sensex was trading 18.98 points down at 25,604.37.
10.24 am: Suven Life Sciences shares were trading 2.55 per cent up at Rs 267.15 after the company announced grant of three product Patents in Canada, ARIPO and South Korea corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2030. Sensex was trading 74.74 points up at 25,698.09. NSE Nifty was gained 26 points at 7,817.30.
10.07 am: The Indian rupee recovered from a two-week low by rising 15 paise to 66.46 against the dollar at the Interbank Foreign Exchange in early trade on fresh selling of the US currency by banks and exporters. Sensex was trading 34.96 points up at 25,658.31. NSE Nifty was trading 9.65 points up at 7,800.95.
9.54 am: Welspun Corp was trading 2.77 per cent down at Rs 106.95 after the company on Monday said it has received tax demand notice of Rs 100 crore in respect of a manufacturing unit in Anjar, Gujarat. Sensex was trading 30.75 points down at 25,592.60. Nifty was trading 5.15 points down at 7,786.15.
9.38 am: Videocon Industries was trading 0.87 per cent up at Rs 121.80 after it said that it has restructured its $194.4 million foreign currency convertible bonds (FCCBs) by repaying half the amount in cash and redeeming the rest in new five-year bonds at lower cost. Sensex gave up initial gains of 100 points and was trading 20.64 points up at 25,643.99. Nifty was trading 14.10 points up at 7,805.40.
9.23 am: SITI Cable Network Ltd was trading 12.50 per cent up at Rs 41.40 after the Reserve Bank allowed foreign investors to buy up to 49 per cent stake in SITI Cable Network. Sensex was trading 97.76 points up at 25,721.11. Nifty50 was trading 36.75 points up at 7,828.05.
9.15 am: The BSE Sensex opened over 100 points up on Tuesday on value-buying in select blue-chips amid a firming trend at other Asian bourses. Besides, covering-up of short positions by speculators supported the recovery. Sensex was trading 113.12 points up at 25,736.47. Nifty50 was trading 34.90 points up at 7,826.20.
Among other Asian markets, Shanghai Composite index was up 0.33 per cent, while Japan’s Nikkei rose 0.41 per cent in early trade today. Hong Kong’s Hang Seng index was also trading a shade higher.
8.40 am: The BSE Sensex and NSE Nifty are likely to rebound open in positive terrain on Tuesday tracking SGX Nifty and mixed global markets.
At 7.50 am, SGX Nifty was up 27.00 points, or 0.34 per cent, at 7,829.00
After Monday’s bloodbath, wherein BSE Sensex and NSE Nifty fell over 2 per cent on Monday amid concerns over slowdown in China and escalating tension in the Middle East, the stocks markets are expected to make some recovery. The BSE Sensex plunged by 537.55 points to crack below the 26,000-mark and NSE Nifty fell below the 7,800-mark by losing 171.90 points or 2.16 per cent to 7,791.30 on Monday.
Asian share markets were on the ropes for a second straight session on Tuesday as investors waited anxiously to see if Beijing can head off the latest selling stampede in Chinese stocks.
At 7:56 am, Hang Seng traded 5.23 points or 0.02 per cent down, at 21321.89, while Nikkei traded 48.21 points or 0.26 per cent up at 18,499.19.
US stocks began 2016 sharply lower on Monday, with the Dow marking its worst start to a year since 2008, after weak Chinese economic data fanned fears of a global slowdown. Indexes partly recovered late in the session, following a turnaround in oil prices that caused energy shares to cut losses.
At its low for the day, the Dow was down 467 points and was headed for its worst first-day percentage drop since 1932.
Stocks of Wipro will be in focus on Tuesday as India’s third-largest software firm on Monday reshuffled its top management, appointing Abid Ali Neemuchwala as the new chief executive in place of T K Kurien,
who has been elevated as executive vice chairman.
Videocon Industries will also be in limelight as the diversified industrial house has restructured its $194.4 million foreign currency convertible bonds (FCCBs) by repaying half the amount in cash and redeeming the rest in new five-year bonds at lower cost.