The BSE Sensex and NSE Nifty pared initial losses in the second half of trade on Tuesday on account of firm global cues. Sensex closed 83.67 points up at 25,772.53, while Nifty 50 index closed 21.75 points up at 7,887.80.

In the 50-share index, Grasim, Dr Reddy’s Labs, Axis Bank, HUL and Larsen & Toubro gained between 2.03 per cent and 3.42 per cent. On the other hand, Tata Motors, Tata Motors DVR, Hindalco, ONGC and NTPC slid between 1.53 per cent and 3.27 per cent.

Sectorwise, the BSE Metal index plunged the most — 1.16 per cent, it was followed by BSE Auto index (down 0.87 per cent) and BSE Oil & Gas index (down 0.74 per cent). On the other hand, BSE Capital Goods index and BSE Consumer Durables index advanced 1.48 per cent and 0.68 per cent, respectively.

Vinod Nair, head of research, Geojit BNP Paribas Financial Services, said, “After a tepid opening the market witnessed some gains influenced by a positive opening in Europe.”

Overall market breadth remained in favour of decliners, as there were 1,276 shares on the gaining side on BSE against 1,334 shares on the losing side while 154 shares remain unchanged.

Earlier, markets traded choppy for most part of the day’s trade as traders opted to book profit at attractive levels after posting a huge rally in previous session. Traders also remained on sidelines ahead of important macro data slated to be announced later in the week.

Key gauges took U-turn to enter into green terrain in second half of trade after the rating agency — India Ratings and Research said that industrial production in March is likely to grow at 1.9 per cent while deflationary pressure in the wholesale price index will moderate in April data. Moreover, the rating agency said the Consumer Price Index (CPI) based retail inflation is projected to come around at 4.9 per cent. Gains in global stocks too helped the key equity benchmarks to reverse intraday losses in afternoon trade.

European counters have made a firm start with CAC, DAX and FTSE were trading with a gain of around a per cent in early deals led by banking stocks which surged after Swiss lender Credit Suisse Group posted a smaller-than-expected net loss in the first quarter. Asian markets, recovering from their initial losses, ended in green terrain on Tuesday, led by over 2 per cent surge in Japanese market as the yen weakened

 

Markets through the day

3.30 pm: Sensex closed 83.67 points up at 25,772.53, while Nifty 50 index closed 21.75 points up at 7,887.80.

3.25 pm: Sensex was up 83 points at 25,772.

2.21 pm: After three-day rally, Tata Motors shares were trading over 3 per cent down at Rs 391.00. Sensex was trading 95.83 points up at 25,784.69, while NSE Nifty was trading 17.55 points up at 7,883.60.

1.59 pm: Alstom India shares were trading 1.70 per cent down at Rs 600 after the company reported about 62 per cent drop in net profit for the quarter ended March 31, 2016. Sensex was trading 74.64 points up at 25,763.50, while NSE Nifty was trading 16.10 points up at 7,882.15.

1.35 pm: Metal shares were trading under tremendous selling pressure after the iron ore traffic, including pellets, at major ports saw a sharp fall of 28 per cent in financial year 2015-16 as imports declined because of weak demand. Total iron ore cargo fell to 13 million tonnes (mt) from 18 mt a year ago. The BSE Metal index was down 0.96 per cent 7639.25. Sensex was up 40 points at 25,729.

12.58 pm: Sensex was trading 17.38 points up at 25,706 tracking firm European markets. European shares advanced on Tuesday, with Danish jewellery maker Pandora surging after strong results and Swiss bank Credit Suisse gaining following its smaller than expected first quarter loss.

12.33 pm: Shares of sugar companies such as Simbhaoli Sugars (up 12 per cent) and Upper Ganges Sugar (up 8 per cent) were trading higher after the Indian Sugar Mills Association (ISMA) said that there was no need for imports as domestic sugar stocks were adequate. The association believes that domestic sugar stock piles are enough to last for the coming 24 months and hence make the need for any imports redundant.

12.02 pm: Jaypee Infratech share price plunged as much as 5.77 per cent on Tuesday after the National Consumer Disputes Redressal Commission (NCDRC) directed Jaypee Group to hand over possession of Kalypso Court project in Noida by July 21, 2016, or pay penalty of Rs 5,000 per flat per day till the project is completed. Read more

11.53 am: Sensex was down 25 points at 25,662. Hindustan Unilever (HUL) shares were trading 1.82 per cent up at Rs 861.50. FMCG major Hindustan Unilever on Monday reported an increase of 7.02 per cent in standalone net profit at Rs 1,089.59 crore for the fourth quarter ended March 31, 2016. The company had posted a net profit of Rs 1,018.08 crore in the January-March quarter of the preceding fiscal.

10.59 am: Suditi Industries shares hit upper for the fourth consecutive trading session on Tuesday. The scrip is on upward trajectory since it informed bourses on May 5 that the company and YouWeCan have associated to create a clothing line under the YWC label.

10.42 am: Sensex dipped 54.85 points to 25634, while Nifty index was trading 21.65 points down at 7,844. Profit-booking in stocks of auto, metal, infrastructure, consumer durables, oil&gas and PSU sectors negatively impacted the trading sentiment.

10.18 am: The rupee was trading lower by 12 paise at a fresh two-week low of 66.70 against the US dollar in early trade on Monday on increased demand for the American currency from importers.

10.04 am: Meanwhile, Ujjivan Financial Services shares made stellar debut on bourses on Tuesday and listed at Rs 227 on BSE, up 8.09 per cent against the issue price of Rs 210.

9.53 am: Sensex was down 40.49 points at 25,648. Nifty was trading 19.30 points down at 7,846. Reserve Bank of India (RBI) has notified that the aggregate ceiling for foreign investors to invest in Ujjivan Financial Services will remain at 49 per cent. The central Bank has further advised that the aggregate limit for NRI investment shall not exceed 10 per cent.

9.27 am: Deepak Nitrite reported 35.01 per cent rise in net profit at Rs 20.56 crore for the quarter ended March 2016. It has posted a net profit of Rs 15.23 crore in the same quarter last year. Shares of the company were trading 2.11 per cent up at Rs 72.55.

9.18 am: Sensex was trading 13.52 points up at 25702. Nifty was down 8.65 points at 7,857. In the 50-share index, BPCL, Bajaj Auto, ONGC, Maruti Suzuki and HUL were up between 0.29 per cent and 0.85 per cent. On the other hand, UltraTech Cements, ACC, Asian Paints, HCL Technologies and Bharti Infratel were down between 0.19 per cent and 0.51 per cent.

9.15 am: The BSE Sensex opened 5.88 points down at 25,682, while Nifty 50 index opened 7.50 points up at 7,873.55.

8.44 am: The BSE Sensex and NSE Nifty are likely to open lower on Tuesday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.

At 8.31 am (IST), SGX Nifty was down 31.50 points, or 0.40 per cent, at 7,873.50.

Asian shares got off to a weak start on Tuesday, pressured by weaker crude oil prices, though Japanese shares got a tailwind as the dollar stood tall against the yen.

The Dow Jones Industrial Average edged down 34.72 points, or 0.2 per cent, to 17,705.91 as machinery maker Caterpillar and energy giant Chevron lost ground. The Standard & Poor’s 500 index picked up 1.55 points to 2,058.69. The Nasdaq composite index rose 14.05 points, or 0.3 per cent, to 4,750.21.

Domestic benchmark index BSE Sensex on Monday zoomed over 460 points — its biggest single-session gain in nearly four weeks — to end at 25,688.86 and the broader NSE Nifty recaptured the 7,800-mark on a flurry of buying by foreign funds and retail investors amid a firm trend overseas.

Ujjivan Financial Services shares will hit capital markets on Tuesday.