Sensex ends 74 points down on global cues, Nifty settles at 8,323; Westlife Development, Jubilant FoodWorks fall

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Updated: July 8, 2016 3:56:09 PM

BSE Sensex and NSE Nifty ended in red on Friday on account of weak global cues. The 30-share index closed 74.59 points down at 27,126.90, while the 50-share index settled 14.70 points down at 8,323.20.

nifty, sensex, bse, nseBSE Sensex and NSE Nifty ended in red on Friday on account of weak global cues. The 30-share index closed 74.59 points down at 27,126.90, while the 50-share index settled 14.70 points down at 8,323.20. (Photo: Reuters)

CLOSING BELL

BSE Sensex and NSE Nifty ended in red on Friday on account of weak global cues. The 30-share index closed 74.59 points down at 27,126.90, while the 50-share index settled 14.70 points down at 8,323.20.

Among the 51-components in the Nifty pack, Tata Motors gained the most — 2.45 per cent, followed by Hero MotoCorp (up 2.33 per cent) and Asian Paints (up 2.31 per cent). On the other hand, Idea Cellular, GAIL and Bharti Airtel plunged 2.63 per cent, 2.48 per cent and 2.30 per cent, respectively.

Read more: Jubilant FoodWorks, Westlife Development shares fall as Kerala Govt imposes 14.5% ‘Fat Tax’ on junk food

Asian markets ended lower in a cautious trade on Friday, as investors awaited the all-important US jobs report due tonight for clues on the trajectory of US interest rates.

3.12 pm: Shares of Jubilant FoodWorks and Westlife Development shares plunged over 3 per cent on reports that Kerala government has imposed 14.5 per cent ‘Fat Tax’ on Junk Food

3.08 pm: Tata Motors’ subsidiary — Jaguar Land Rover (JLR) has surpassed its previous half-year sales records in the first six months of 2016, with Jaguar retailing 16,603 vehicles, up 68 per cent on the same period in 2015 and Land Rover retailing 45,711 vehicles, up 10 per cent.  JLR, the UK’s leading manufacturer of premium luxury vehicles, reported its best ever UK half-year sales retailing 62,314 vehicles in the first six months of 2016, up 21 per cent on the same period last year. Shares of Tata Motors were trading 2.20 per cent up at Rs 465.25.

2.25 pm: Credit rating agency, Brickwork Ratings has upgraded its rating assigned to ‘AA+’ with stable outlook from ‘AA’ for Srei Infrastructure Finance’s Non-Convertible Debentures (NCDs) aggregating to Rs 4,500 crore. The rating indicates that the instruments are considered to have high degree of safety regarding timely servicing of financial obligations. It also implies that the instruments carry very low credit risk. Shares of Srei Infra was trading 0.28 per cent up at Rs 72.35.

1.46 pm: South Indian Bank shares gained over 3 per cent intraday after the bank posted 45 per cent rise in net profit at Rs 95.10 crore for the quarter ended June 30, 2016. The bank had reported net profit of Rs 65.29 crore in the corresponding quarter a year ago. Gross NPA stood at 3.96 per cent against 3.77 per cent in the sequential quarter ended March 31, 2016.

Read more: South Indian Bank posts 45% rise in PAT in Q1, shares gain over 4%

1.37 pm: 8K Miles Software Services share price surged as much as 12.84 per cent on Friday after the company announced 167.69 per cent rise in consolidated net profit figures for the latest quarter ended June 30, 2016. Read more

12.42 pm: Benchmark indices wiped off some losses in the afternoon trade, but were still trading in red due to weak trend in other Asian markets ahead of the release of crucial US jobs data, which kept sentiment subdued. Besides, fall in crude oil prices coupled with depreciating rupee against dollar, too dampened sentiments. Sensex was down 76 points at 27,124. Nifty was down 19.95 points at 8,317.

12.07 pm: L&T Infotech IPO is going to hit Dalal Street on July 11. Read more: 10 things to know before subscribing

11.51 am: Telecom stocks were trading in red after the Department of Telecommunication said that it is in process of issuing notices to six telecom operators for combined payment of Rs 12,000 crore for understatement of revenue between 2006-07 and 2009-10. Sensex was down 108 points at 27093. Nifty was down 30.60 points at 8,307.

11.28 am: In the 50-share index, Asian Paints, Tata Motors, Aurobindo Pharma, Hero MotoCorp and Zee Entertainment were up between 1.42 per cent and 2.47 per cent. On the other hand, Idea Cellular, BHEL, Bharti Airtel, Bank of Baroda and Adani Ports were down between 1.85 per cent and 2.78 per cent.

11.11 am: Shares of UltraTech Cement were trading 0.71 per cent up at Rs 3403. The company has bagged two coal linkages for its cement plants in Maharashtra. The company had participated in the auction of coal linkages for cement sector and won Penganga OC mines and Mana Incline mine in the State. The company has won the Penganga OC mine for a basic floor price of Rs 1510 and a premium of Rs 20 per tonne. The bid price for the Mana Incline mine was at a basic floor price of Rs 2060 per tonne. Further, the Company intends to participate in the future linkage auctions for its plants located strategically near the coal mines.

10.10 am: India rupee fell by 10 paise to 67.49 against dollar in the early trade on Friday due to increased demand for the American currency.

9.40 am: Triggered by weak global cues, Sensex plunged 151 points to 27,049. Nifty was down 49.35 points at 8,288.55.

9.30 am: Nifty was trading 21.40 points down at 8,316. Sensex was down 63 points at 27,138.

9.19 am: Sensex was up 20 points at 27221. Nifty was trading 5 points up at 8,342.

9.17 am: Zee Learn was trading 12.42 per cent higher after Q1 results.  The company reported its Q1FY17 results which are company’s best result since inception. For the first quarter ended June 30, 2016, Zee Learn registered 102.52 per cent rise in net profit figures at Rs 8.02 crore against Rs 3.96 crore in the corresponding quarter a year ago. Read more

9.15 AM: BSE Sensex opened 90.71 points up at 27292.20. Nifty opened 12.10 points up at 8,350.

Asian peers, Hang Seng and Shanghai were down 0.92 per cent and 0.91 per cent, respectively, in the morning trade. However, Nikkei was up 0.14 per cent at 15,297.

Read more: Multibaggers alert! Stocks that soared up to 8000 per cent in last 5 years

Sensex and Nifty on Thursday remained in a phase of consolidation as the 30-share index added 35 points in volatile trade ahead of start of earnings season next week and Monsoon session of Parliament amid a higher opening in Europe.

Wall Street stocks fell on Thursday as a drop in oil prices dragged down energy shares, while utilities reversed recent gains.

Stocks in focus
Mahindra Holidays & Resorts India: The company on Thursday said its subsidiary Caribia Service Oy, Finland has been liquidated from July 4, 2016. “Caribia Service Oy, Finland, subsidiary of Holiday Club Resorts Oy, Finland, a step-down subsidiary of the company, has been liquidated with effect from July 4, 2016,” Mahindra Holidays & Resorts India (MHRIL) said in a filing to BSE.

RIL: Reliance Jio Infocomm, a subsidiary of Reliance Industries, on Thursday raised Rs 2,000 crore through issuance of non-convertible debentures on the BSE’s new platform and the proceeds would be utilised for roll out of its digital services business.

Tata Motors: Tata Motors-owned Jaguar Land Rover reported 22 per cent jump in global retail sales to a record 2,91,556 units in the first half this year riding on robust demand in Europe and the UK.

Lupin: Pharma firm Lupin has received Establishment Inspection Report (EIR) from the US health regulator for its Goa facility regarding a inspection done by the USFDA in July last year.

(With agency inputs)

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