The BSE Sensex and NSE Nifty ended lower on Tuesday after the Reserve Bank of India (RBI) at its policy meet kept key policy rates unchanged and retains FY17 GDP growth forecast at 7.6 per cent amid mixed global cues. Sensex closed 97.41 points, or 0.35 per cent, down at 28,085.16, while Nifty 50 index settled 33.10 points down at 8,678.25. In the 50-share index, Tata Power, Zee Entertainment, Bharti Infratel, Coal India and ONGC gained between 1.18 per cent and 3.60 per cent. On the other hand, Idea Cellular, Lupin, Ambuja Cement, Grasim and Eicher Motors slid between 1.96 per cent and 6 per cent.
Barring the BSE Consumer Durables index (up 0.45 per cent), rest all other sectoral indices ended the day in red. The BSE Telecom index slid the most — 1.15 per cent, followed by BSE Oil & Gas (down 0.88 per cent), BSE Healthcare (down 0.71 per cent) and BSE Metal (down 0.69 per cent).
Asian peers ended on a mixed note on Tuesday. Shanghai Composite and Nikkei settled higher by 0.71 per cent and 0.69 per cent, respectively. On the other hand, Hang Seng slid by 0.13 per cent.
3.22 pm: Sensex was down 93 points at 28,089. Aptech was trading 11.20 per cent up at Rs 92.85.
2.25 pm: Lupin shares dipped as much as 4.18 per cent on Tuesday despite the pharma major reported 55.12 per cent rise in consolidated net profit at Rs 882 crore for the quarter ended June 30, 2016 against Rs 568.60 crore in the corresponding quarter a year ago. Sensex was down 92 points at 28,090. Nifty was down 36.40 points at 8,674.
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12.30 pm: NBCC (India) informed bourses that Goa Shipyard has signed Memorandum of Agreement (MOA) with NBCC (India) on August 8, 2016 for assigning the work for construction of office building for Mine Counter Measure Vessels (MCMV) and additional space in the Yard of Goa Shipyard, Goa valuing Rs 100.00 crores (approx). However, shares of the company were trading 0.27 per cent down at Rs 241.60.
12.22 pm: Sensex plunged further and was trading 203.58 points down at 27978.99. Meanwhile, Rana Kapoor, managing director and chief executive officer, YES Bank said, “In the coming months, the disinflationary impact will be upheld by a favourable monsoon and structural policy reforms instituted by the government. Hence, notwithstanding the current pause, this will engender 50-100 bps space for incremental monetary easing before end of FY17.”
12.16 pm: Meanwhile, Nifty slipped below 8650-level and Sensex was trading 162.38 points down at 28020.19. 10-year government bond yield also plunged to 3 year low on Tuesday.
12.01 pm: The BSE Sensex was trading 117.63 points down at 28,064.94. Nifty was down 42.80 points at 8,668.
10.30 am: Max Financial Services was trading 1.11 per cent down in the morning trade. Sensex was down by 43 points at 28,139.
10.06 am: Meanwhile, Aptech, Asian Paints, L&T Finance Holdings and SRF shares hit their fresh 52-week high in today’s trade.
9.52 am: Meanwhile, Indian rupee opened on a flat note on Tuesday at 66.8362 against Monday’s closing of 66.8450. SRF was trading 8.25 per cent up at Rs 1,665. Shares of the company jumped after it received an approval for setting-up of Chloromethanes Plant at its Chemical Complex at Dahej in state of Gujarat at an estimated cost of Rs 165 crore.
9.21 am: Idea Cellular was trading 4.22 per cent down at Rs 98.75. Other telecom major Bharti Airtel was also trading over 3 per cent down in the early trade.
9.18 am: Benchmark indices BSE Sensex and NSE Nifty turned flat. Sensex was down 25 points at 28,157. Nifty was trading 9.10 points down at 8,702.
9.15 am: The BSE Sensex opened 106.65 points, or 0.38 per cent, up at 28,289.22, while Nifty 50 index opened 16.45 points, or 0.19 per cent, up at 8727.80.
Domestic equity indices BSE Sensex and NSE Nifty are likely to open on a flat-to-cautious note on Tuesday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed Asian markets. At 8.02 am (IST), SGX Nifty was up by 4 points, or 0.05 per cent, at 8,735.
The Reserve Bank of India (RBI) is scheduled to announce the third bi-monthly monetary policy statement on Tuesday around 11 am. Most of market experts believe that the central bank will leave key rates unchanged. However, the focus will be on the possible announcement about the new RBI Governor.
On the other hand, BofA Merrill Lynch Global Research believes the RBI may cut rates by 25 basis points on Tuesday.
Asian peers Hang Seng was trading 0.36 per cent lower at 22413 in the morning trade, however, Shanghai and Nikkei were up by 0.03 per cent and 0.11 per cent, respectively.
On Wall Street, the Dow Jones Industrial Average index fell 0.08 percent on Monday, while the S&P 500 slipped by 0.09 per cent and the Nasdaq by 0.15 per cent.
Back home, the 30-share Sensex gained 104.22 points on Monday on account of firm global cues. Tata Motors will remain in focus on Tuesday as the auto major on Monday posted a 20 per cent increase in global sales figures at 88,159 units in July 2016 against 73,535 units sold in the same month last year.