The benchmark BSE Sensex and NSE Nifty remained under pressure through out the day on Thursday tracking heavy selling in other Asian indices after Bank of Japan kept policy rates unchanged and refrained from offering more stimulus. Weak global cues after the US Federal Reserve Chair Janet Yellen reiterated global growth concerns and Britain’s potential exit from the European Union also weighed on the sentiment.
Sensex closed 200.88 points down at 26,525.46, while NSE Nifty settled 65.85 points down at 8,140.75.
In the 50-share index, Hindalco, GAIL, Asian Paints, HUL and Eicher Motors gained between 0.60 per cent and 2.86 per cent. On the other hand, Bharti Infratel, Maruti Suzuki, UltraTech Cements, IndusInd Bank and ICICI Bank slid between 1.74 per cent and 4.09 per cent. Read more: 43 stocks soar over 100 per cent in 100 trading sessions; Sugar stocks lead the pack
Traders also remained concerned with report that India’s merchandise exports contracted again, albeit at their slowest pace in 18 months in May as non-petroleum exports finally turned positive, led by exports of engineering goods and gems and jewellery. Exports contracted at 0.79 per cent in May while imports slipped 13.16 per cent, leaving a trade deficit of $6.27 billion. Some concern also crept in with India Meteorological Department (IMD) stating that the slow progress of the south-west monsoon has led to overall deficiency of rains by 22 per cent over the last fortnight.
3.24 pm: Sensex was trading 208.53 points down at 26,517.81 while NSE Nifty was trading 68.25 points down at 8,138.35 in the last leg of trading.
3.11 pm: Sensex wiped off some losses and was trading 177 points down at 26548. Nifty was down 56.60 points at 8,150. The BSE Telecom and BSE Bankex were down by over 2 per cent and 1 per cent, respectively.
2.23 pm: Lux Industries shares surged as much as 5.45 per cent on Thursday after the company informed bourses that it has commenced operation at Dankuni Plant near Kolkata. Sensex was down 241 points at 26,484.
1.50 pm: European stocks fell on Thursday, with regional equity indexes dropping towards their lowest level in nearly four months as concerns lingered over Britain’s vote next week on its European Union membership.
1.47 pm: State Bank of India was trading 0.32 per cent up at Rs 216.35. Read more: SBI merger, debt recast plan boost bank stocks; here are top PSU banking bets
1.41 pm: GlaxoSmithKline Consumer Healthcare has resumed operations with effect from June 15, 2016 at its manufacturing facility at Nabha in Punjab following a wage settlement agreement with its striking workers. The company had suspended operations temporarily at factory from May 21 following disruptions by its workforce who were demanding hike in wages. Shares of the comapany were trading 0.52 per cent up at Rs 5,616. Sensex was down 288 points at 26,438.
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1.07 pm: Wipro has launched its analytics solution, Data Discovery Platform. The solution provides pertinent business insights across the value of chain of an industry through pre-defined ‘apps’. The company’s Data Discovery Platform will enable businesses to embark on an analytics journey with value added services of process simplification and business transformation. Stocks of the IT major were trading 0.28 per cent up at Rs 548.15. Sensex was trading 303.61 points down at 26,422.73, while NSE Nifty was trading 97 points down at 8,109.60.
12.32 pm: Moody’s Investors revised Tata Power Ltd shares to stable from negative. Sensex was trading 374.35 points down at 26,351.99, while NSE Nifty was trading 120.75 points down at 8,085.85.
12.01 pm: Maruti Suzuki (down 3.36 per cent), Bharti Infratel (down 3.04 per cent), IndusInd Bank (down 2.88 per cent) were among the top losers on Nifty index, while GAIL was the only gainer with 3.36 per cent. Sensex was trading 401.03 points down at 26,325.31, while NSE Nifty was trading 129.30 points down at 8,077.30.
11.40 am: Indian rupee pared its initial gains to depreciate by 6 paise to 67.21 against the American currency in late morning deals following fresh bouts of dollar demand from importers and banks amid lower domestic equities. The rupee opened higher by 67.12 against Wednesday’s closing level of 67.15 at the Interbank Foreign Exchange (Forex) market. Sensex was trading 349.52 points down at 26,376.82, while NSE Nifty was trading 119 points down at 8,087.60.
11.16 am: Inox Leisure shares were trading 1.01 per cent up at Rs 225 after it announced an partnership with Paytm to sell movie tickets to movigoers. Sensex was trading 362.39 points down at 26,363.95, while NSE Nifty was trading 112.30 points down at 8,094.30.
10.46 am: Ujjivan Financial Services stocks were trading 1.13 per cent down at Rs 386.70 after Reserve Bank of India put the company on its ban list for foreign investment, which means overseas investors will not be able to buy further equity in the company. Sensex was trading 317.37 points down at 26,408.97, while NSE Nifty was trading 98.55 down at 8,108.05. Sharp fall in Asian markets, Nikkei down nearly 500 points, according to TV reports
10.25 am: Meanwhile, market benchmark BSE Sensex tanked over 300 points and hit a low of 26,402.67. Nifty was trading below 8,120 mark due to profit-booking by investors after Thursday’s gains amid weak global cues.
10.10 am: The rupee advanced by two paise to 67.13 against the US dollar in early trade at the Interbank Foreign Exchange today on increased selling of the American currency by exporters and banks. Sensex was down 283.77 points, or 1.06 per cent, down at 26,442.57. Nifty was down 83.60 points at 8,123.
10.05 am: Shares of the three public listed subsidiaries of State Bank of India (SBI) such as State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner and Jaipur (SBBJ) continued to remain investors favourite for the second straight day as they hit their fresh 52-week high in early trade on Thursday. Read more
9.27 am: The Bank of Japan kept monetary policy steady on Thursday even as sluggish global growth and anaemic inflation put policymakers under pressure to do more to reflate the economy out of stagnation, bolstering the yen and battering Tokyo stocks. The yen rose more than 1 per cent against the dollar to hit a 20-month high, while the Nikkei stock average fell 2 per cent after the BOJ’s decision. Maruti Suzuki shares were trading 1.74 per cent down at Rs 4,134. Sensex was down 190.78 points at 26,535.
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9.16 am: Sensex was trading 161.69 points down at 26,564.65. Nifty was down 25.95 points at 8,180.65.
9.15 am: The BSE Sensex opened 40.31 points down at 26,686.0.3, while Nifty 50 index opened 25.95 points down at 8,180.65.
9.07 am: Oil marketing companies such as IOC, BPCL and HPCL will remain in focus on Thursday after petrol price was marginally hiked by 5 paise a litre and diesel by Rs 1.26 a litre, the fourth increase in rates in six weeks. Petrol now cost Rs 65.65 a litre in Delhi as compared to Rs 65.60 per litre earlier. Similarly, diesel now cost Rs 55.19 per litre as against Rs 53.93 a litre earlier.
8.37 am: The Bank of Japan kept monetary policy steady and stuck to its optimistic view of the economy on Thursday, even as renewed yen rises and slumping stock prices threaten to hurt business sentiment and derail a fragile economic recovery.
8.11 am: The BSE Sensex and NSE Nifty are likely to open in red on Thursday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and subdued global cues.
At 7.51 am (IST), SGX Nifty was down 27 points, or 0.33 per cent, at 8,185.
Asian peers, Hang Seng, Nikkei and Shanhai were trading down by 1.86 per cent, 1.18 per cent and 0.37 per cent, respectively.
Wall Street fell for a fifth straight session on Wednesday after the Federal Reserve Chair Janet Yellen left US interest rates unchanged citing slow jobs gains, tepid growth and low inflation – and an impending vote in Britain on whether to quit the European Union.
The Dow Jones industrial average lost 0.2 per cent to end at 17,640.17 and the S&P 500 fell 0.18 per cent to 2,071.50. The Nasdaq Composite dropped 0.18 per cent to 4,834.93.