Domestic benchmark indices BSE Sensex and NSE Nifty slipped over a percentage point on Friday after industrial production in March plunged to 0.1 per cent amid weak global cues. The 30-share index closed 300.65 points down at 25,489.57, while Nifty 50 index settled 85.50 points down at 7,814.90.
Among the 30 stocks in the BSE Sensex, 27 ended the day in red with Adani Ports falling the most — 3.48 per cent to Rs 188.40, it was followed by HUL (down 2.58 per cent), BHEL (down 2.50 per cent), HDFC (down 2.46 per cent) and Tata Steel (down 2.31 per cent). On the other hand, Asian Paints, Tata Motors and ITC gained 1.70 per cent, 0.43 per cent and 0.09 per cent, respectively.
Sectorwise, the BSE Realty index, BSE Metal and BSE Capital Goods index plunged 2.07 per cent, 2.04 per cent and 1.57 per cent, respectively. Rest all other indices also ended the day in red.
Vinod Nair, head of research, Geojit BNP Paribas Financial Services, said, “Investors turned to profit booking due to weak CPI inflation and IIP data. The FII activities remain subdued amid weakness in the global economy.”
In scrip specific development, Eicher Motors closed 3.82 per cent down after promoters sold stake in the company. The promoter group has sold 4.2 per cent stake in the company for Rs 2,100 crore. On the other hand, Crompton Greaves Consumer Electricals (CGCEL) hit upper circuit after being listed on the stock exchanges. Private equity investors Advent International and Temasek launched Rs 1,695 crore open offer to acquire 26 per cent stake in CGCEL to become majority shareholders.
Selling got intensified after European counters have made a feeble start with CAC, DAX and FTSE were trading with a cut of around half a per cent in early deals. Asian shares ended in red on Friday, as crude oil retreated and technology shares declined after Apple Inc. sank to the lowest since June 2014.
Markets through the day
3.30 pm: The 30-share index closed 300.65 points down at 25,489.57, while Nifty 50 index settled 85.50 points down at 7,814.90.
3.07 pm: Shares of Arvind Infrastructure hit upper circuit after the company reported 106 per cent rise in consolidated net profit figures at Rs 17.61 crore for the quarter ended March 2016. It has posted a net profit of Rs 8.55 crore in the same quarter last year. Shares of Arvind Infrastructure soared 19.95 per cent to Rs 100.10. Manappuram Finance also hit upper circuit. The scrip jumped 19.93 per cent to Rs 50.25.
2.53 pm: Shares of Dr Reddy’s Laboratories were trading in red after the drug major on Thursday reported an 85.6 per cent decline in consolidated net profit to Rs 74.6 crore for the fourth quarter ended March. The scrip was trading 1.54 per cent down at Rs 2927.95.
2.12 pm: Monsanto shares were trading 2.55 percent up at Rs 2,466.55. Sensex was down 326.52 points at 25,463.70, while Nifty was trading 96.05 points down at 7,804.35.
1.55 pm: Aditya Birla Fashion and Retail (ABFR) shares gained as much as 5.27 per cent on Friday after the company informed bourses that it has signed an exclusive deal to bring the Simon Carter designer wear brand into India. Simon Carter is a London-based designer brand with a quirky English touch. Shares of ABFR shares were trading 3.36 per cent up at Rs 156.90.
1.35 pm: Sensex was down 332 points at 25457. Banking stocks were under pressure.
1.04 pm: Manappuram Finance shares surged over 17 per cent after the company reported a rise of 79.16 per cent in its net profit at Rs 124.84 crore for the quarter ended March 31, 2016 as compared to Rs 69.68 crore for the same quarter in the previous year. Total income of the company has increased by 20.68 per cent at Rs 605.17 crore for quarter under review as compared to Rs 501.46 crore for the quarter ended March 31, 2015.
12.41 pm: Sensex was trading 360 points down at 25429. Nifty was trading 104.55 points down at 7,795.
12.23 pm: Meanwhile, Taiwan stocks extended losses to hit fresh 3-month lows on Friday, tracking declines in some other regional bourses, with heavyweights such as Taiwan Semiconductor Manufacturing Co trading lower. Sensex was trading 320.39 points down at 25,469.83. Nifty was down 98.30 points at 7,802.10.
12.01 pm: In the 50-share index, Adani Ports, Idea Cellular, HCL Technologies, Asian Paints and ITC gained between 0.86 per cent and 2.10 per cent. On the other hand, Eicher Motors, HUL, Hindalco, ICICI Bank and GAIL were down between 2.25 per cent and 3.79 per cent. Sensex was down 252 points at 25,538.
11.35 am: Dr Reddy’s Laboratories shares were trading 1.75 per cent down at Rs 2921.80 after the drug major reported an 85.6 per cent decline in consolidated net profit to Rs 74.6 crore for the fourth quarter ended March. Sensex was trading 207.93 points down at 25,582.29, while NSE Nifty was trading 59.05 points down at 7,841.35.
11.20 am: Marsons share price surged nearly 8 per cent in the early trade on Friday after the company announced that it is in final stage of discussion for taking over a considerable stake in a Dubai based LLC Trading Company for amount of $5 million dollars.
10.48 am: Crompton Greaves demerged consumer business, Crompton Greaves Consumer Electricals listed on BSE and NSE on Friday as a separate entity. Shares were trading 5 per cent up at RS 135.45 on NSE. Read more
Sensex was trading 227.58 points down at 25,562.
10.03 am: The rupee depreciated by 17 paise to 66.79 against the US dollar in early trade today due to increased demand for the American currency from importers amid a lower opening of the domestic equity market.
9.39 am: Eicher Motors shares plunged as much as 4.67 per cent in early trade on Friday on reports that promoters of the company have sold 11.40 lakh shares, or 4.3 per cent stake, in the company worth of Rs 2160 crore via block deal. Sensex was down 237 points at 25553. Nifty was down 70.95 points at 7,829.
9.16 am: Sensex was down 114.87 points, or 0.45 per cent, at 25675.35. Nifty was down 37.30 points at 7,863.10. Dr Reddy’s Labs and HUL wer trading down by 1.73 per cent and 1.53 in the early trade.
9.15 am: The BSE Sensex opened 50.28 points down at 25739.94 on weak global cues. Similarly, Nifty 50 index opened 19.40 points lower at 7,881.
9.07 am: There will be lots of scrip specific movement with the MSCI rejiging its India index and adding Bajaj Finance, Havells India, Titan Company and Yes Bank to the list, while removing Reliance Communications, REC, and United Breweries. Also there will lots of result announcements to keep the markets in action.
8.41 am: Domestic equity indices BSE Sensex and NSE Nifty are likely to open lower on Friday tracking SGX Nifty and weak global cues. At 8.27 am (IST), SGX Nifty was down 43.50 points, or 0.55 per cent, at 7,989.50.
Dashing hopes of recovery may further put pressure in today’s trade. Growth in industrial production plunged to 0.1 per cent in March due to poor performance of manufacturing and mining sectors coupled with sharp decline in output of capital goods. Factory output measured in terms of Index of Industrial Production (IIP) was 2.5 per cent in March last year, as per data released by Central Statistics Office (CSO).
Asian shares got off on the back foot on Friday, while the yen nursed losses as traders wagered the Bank of Japan will add to its massive stimulus before too long.
Major US stock indices closed mixed on Thursday, with Nasdaq Composite down 0.49 per cent as Apple shares skidded to a two-year low on concerns about iPhone demand.
The BSE Sensex recovered by 193.20 points to end at 25,790.22 on Thursday, driven by banking stocks such as ICICI Bank and SBI.
Shares of Glenmark Pharmaceuticals will remain on focus on Friday. The company on Thursday reported over 13-fold jump in consolidated net profit to Rs 143.04 crore for the March quarter on the back of robust sales across all markets including the US, Europe and India. The Mumbai-based firm had posted a net profit of Rs 10.61 crore during the January-March period of 2014-15 fiscal.
(With agency inputs)