Domestic equity indices BSE Sensex and NSE Nifty ended on a flat note in a choppy trade on Wednesday in the absence of any positive trigger. Market participants also remained cautious about Finance Minister Arun Jaitley’s statement that the global economic situation is grim and worrisome and that has prompted the nations to put up firewalls around their own systems to save themselves from the slowdown and grow within the limitations.

The BSE Sensex closed 27.82 points up at 25844.18, while Nifty 50 index settled 0.05 points up at 7,914.75.

In the 50-share index, Tata Steel surged the most — 6.69 per cent, it was followed by Hindalco (up 5.10 per cent), Bank of Baroda (up 3.51 per cent), Axis Bank (3.05 per cent) and GAIL (up 2.80 per cent). On the other hand, Idea Cellular, Bharti Infratel, TCS, RIL and Aurobindo Pharma plunged 3.23 per cent, 2.86 per cent, 2.65 per cent, 2.59 per cent and 1.92 per cent, respectively.

Sectorwise, the BSE Metal index, BSE Consumer Durables index and BSE Power index gained 3.77 per cent, 1.81 per cent and 1.07 per cent, respectively. The BSE Telecom and BSE Oil & Gas slid 1.22 per cent and 0.73 per cent.

Shares of air conditioner and air cooler makers viz. Hitachi Home and Life Solutions (India), Lloyd Electric and Engineering, Voltas, Blue Star etc. edged higher on expectations of good retail air conditioner sales in summer season. However, sugar companies edged lower after media reports stated that the government mulling to control sugar prices rise.

Overall market breadth remained in favour of advances, as there were 1,477 shares on the gaining side against 1,145 shares on the losing side while 148 shares remain unchanged.

Global cues remained sluggish with European markets making a weak opening, retreating from their three-month highs on Wednesday, with a fall in oil and metals prices putting pressure on commodities-related stocks. Weakness in Asian markets too dampened sentiments. Most of the Asian counters ended in red after oil prices took a fresh spill on news Kuwaiti oil workers ended a three-day strike.

 

Markets through the day

3.30 pm: The BSE Sensex closed 27.82 points up at 25844.18, while Nifty 50 index settled 0.05 points up at 7,914.75.

3.14 pm: Sensex was up 11.14 points at 25,824.50. Predicting ‘reasonable’ returns from equities, ace investor Rakesh Jhunjhunwala has said the country’s stock markets are in early stages of a “long-run bull market”.

2.55 pm: Indraprastha Gas Ltd (IGL) recorded highest CNG sale of 26.7 lakh kg a day this week after more vehicles switched to the cleaner fuel with the start of second round of ‘odd-even’ rule for plying of private cars. Shares of IGL were trading 0.94 per cent up at Rs 571.80.

2.17 pm: Sensex was trading 10.38 points up at 25,826. Nifty was down marginally 0.25 points at 7,914. Diagnostics company Thyrocare Technologies and microfinance lender Ujjivan Financial Services will hit capital markets next week to raise funds through their initial public offerings.

1.55 pm: In the 50-share index, Tata Steel, Hindalco, Axis Bank, Power Grid and GAIL were up between 1.80 per cent and 5.50 per cent. On the other hand, Idea Cellular, Reliace Industries (RIL), TCS, Bharti Infratel and ZEEL were down between 1.89 per cent and 2.87 per cent.

1.19 pm: Sensex was down 13.45 points at 25,802. Market participants also remained cautious with Finance Minister Arun Jaitley’s statement that the global economic situation is grim and worrisome and that has prompted the nations to put up firewalls around their own systems to save themselves from the slowdown and grow within the limitations.

12.51 pm: Mastek shares fell by almost 6 per cent after the company reported a 9 per cent decline in net profit for quarter ended March 2016. The company on Tuesday reported a net profit at Rs 5.86 crore against Rs 6.44 crore in the same quarter last year.

12.48 pm: Sensex was trading 66 points down at 25,750. Nifty was down 21.10 points at 7,893. READ MORE: Good monsoons to boost rural income, 10 stocks that may gain

12.22 pm: Shares of Steel Strips Wheels (SSWL) surged over 6 per cent intraday after the company received exports order for supply of high speed trailer (Caravan) steel wheels for the European trailer market.

11.51 am: Sensex was down 38.44 points at 25,778. The market breadth on BSE was positive, out of 2,368 stocks traded, 1,141 stocks advanced, while 1,098 stocks declined on the BSE.

11.24 am: Tata Steel share price surged as much as 5 per cent intraday on Wednesday on reports that managers at Tata’s Port Talbot steelworks have been briefed about a potential management buyout plan. READ MORE: Metal index among top gainers today; Tata Steel surges 5%

Sensex was down 42.28 points at 25,774.

11.05 am: Wipro shares were trading 0.77 per cent up at Rs 593.70 ahead of Q4 earnings.

10.46 am: Equitas Holdings, which had raised Rs 2,200 crore through its initial public offer (IPO), will make its stock market debut on Thursday (April 21). The IPO, which opened from April 5-7, was subscribed 17.24 times at a price band of Rs 109-110 per share.  Sensex was trading 16.08 points down at 25800. Nifty was down 15.80 points down at 7,898.

10.05 am: ARSS Infrastructure Projects shares surged over 7 per cent on Wednesday after it informed bourses that the company has bagged a work order amounting to Rs 64.73 crore for widening & strengthening of Jamujhadi – Basudevpur – Dhamara Road (S.H) to 2 Lane without paved shoulder from 18/800 Km to 22/750Km & from 27/100Km to 60/470 km by the Office of the Executive Engineer Bhadrak (R&B) Division, Bhadrak on April 18, 2016.

10.02 am: Tata Communications, a leading provider of A New World of Communications, will be expanding its partnership with Asian Television Network (ATN) Canada, the country’s largest South Asian Broadcaster, to bring the network’s content to Canadian viewers, with potential for further international expansion. Shares of Tata Communications wer trading 1.99 per cent up at Rs 410.35.

9.58 am: Tata Consultancy Services shares were trading 1.47 per cent down at Rs 2485.35 post its Q4 results. READ MORE: TCS, Infosys or Mindtree: Which promises better returns post Q4 results

9.56 am: Indian rupee strengthened by 30 paise to 66.25 against the dollar at the Inter-bank Foreign Exchange on increased selling of American currency by exporters.

9.51 am: Tata Steel was trading 4.37 per cent up at Rs 349.65. Benchmark Sensex was up 128 points at 25,944.

9.39 am: Ratings agency Crisil on Tuesday posted 40 per cent rise in consolidated net profit at Rs 78.6 crore for the first quarter ended March 31. The company’s net profit stood at Rs 56.32 crore in the January-March quarter of last year. Shares of Crisil were trading 11.43 per cent up at Rs 2,210. READ MORE: CRISIL surges on reporting 40% rise in Q1 consolidated net profit

9.38 am: India’s largest information technology services provider TCS’ fourth-quarter net profit came at Rs 6,341 crore, up 64.4 per cent, year-on-year, and 3.8 per cent sequentially. Revenue of the company stood at Rs 28,449 crore, up 17.5 per cent, year-on-year, and 4 per cent, quarter-on-quarter.

9.30 am: BEML has signed a Memorandum of Understanding (MoU) with Dredging Corporation of India for indigenous design, development and manufacture of spares for dredgers. This MoU is for supply of various type of spares for the existing Dredgers and also supply of Backhoe Excavators for new Dredgers. Spares include heavy fabricated and machined components and hydraulic aggregates. By  leveraging  the  infrastructure  and  technology  base  developed  for  Mining & Construction Machinery, BEML has entered into Dredging Business. Shares of BEML were trading 1.61 per cent up at Rs 965.05.

9.28 am: Shares of Nestle India were trading 0.68 per cent up at Rs 6166.35. The company has announced that Maggi has strengthened its position with more than 50 per cent market share in the noodles category. The company has also said that with the latest re-launch, we are aiming at providing more choices to suit consumer preferences, driving greater volumes and building back our market share.

9.27 am: Housing Development Finance Corp (HDFC) shares gained over 2 per cent in morning trade after said that it plans to list up to 10 per cent of its life insurance joint venture with Britain’s Standard Life Plc in an initial public offering (IPO). HDFC Life’s board has approved taking steps to begin the process of an IPO.

9.26 am: Suzlon has announced acquisition of five solar firms for future project implementation in India. The company has acquired Gale Solarfarms, Tornado Solarfarms, Abha Solarfarms, Aalok Solarfarms and Shreyas Solarfarms for an undisclosed sum, in a bid to further its renewable energy project ambitions. Shares of Suzlon Energy were trading 1.57 per cent up at Rs 15.52.

9.16 am: Sensex was trading 51.16 points up at 25,867. Nifty was up 12.95 points at 7,927.65. Mindtree was trading over 2 per cent up at Rs 748 post its Q4 results.

9.15 am: The BSE Sensex opened 128.98 points up at 25,942.34, while the NSE Nifty index opened 35.35 points up at 7,950.05.

8.55 am: As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) bought shares worth net Rs 977.98 crore on April 18. Domestic institutional investors sold shares worth Rs 313.22 crore on that day.

8.47 am: Domestic stock markets are likely to open on flat note with positive bias on Wednesday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.

Asian peers, Hang Seng and Shanghai were trading down by 0.69 per cent and 1.04 per cent in morning trade. However, Japan’s Nikkei climbed 1.1 per cent as the yen retreated, bringing its rally to 10 per cent in nine sessions.

According to SMC Investment and Advisors, Today the markets are likely open on positive note. All emerging markets are trading mixed. The coming session is likely to witness a range of 7,800 on declines and 8,000 on advances.

On Wall Street the Dow ended Tuesday with gains of 0.27 per cent, while the S&P 500 rose 0.31 per cent to close above 2,100 for the first time in 2016.

Back home, equity markets on Monday closed on a positive note for the fourth day as the Sensex rallied nearly 190 points to end at over three-and-a-half month high of 25,816 as investors cheered Infosys’ upbeat revenue forecast. The broader NSE Nifty recaptured the psychological 7,900-mark.

Shares of Tata Consultancy Services (TCS) and Mindtree will remain in focus on Wednesday. The nation’s largest IT exporter TCS on Monday post market hours reported a higher-than-expected 72.7 per cent growth in the March quarter net profit at Rs 6,413 crore and guided towards a stronger 2016-17 fiscal, saying a majority of its worries are behind now. The biggest Tata Group company had posted a post-tax profit of Rs 3,713 crore in the year-ago period, pulled down by a Rs 2,628-crore employee bonus during the period.

Mid-sized software services firm Mindtree on Monday reported a 21.2 per cent growth in consolidated net profit at Rs 156 crore for the quarter ended March 31.The firm had posted a net profit of Rs 128.7 crore in the year-ago period, it said in a statement.

(With agency inputs)