The BSE Sensex and NSE Nifty settled in red on Tuesday on account of profit-booking by investors in recent gainers. Investors also remained wary ahead of Thursday’s British vote, as well as Federal Reserve chief Janet Yellen’s two-day testimony before Congress starting later on Tuesday, as she might offer clues on the timing of the next US interest rate increase. However, losses remained capped as investors getting some support with report of weather department – India Meteorological Department saying that monsoon rains have covered nearly half of the country, accelerating planting of summer crops like paddy rice, soybeans, cotton and pulses.
Sensex closed 54.14 points down at 26812.78, while Nifty 50 index settled 18.60 points down at 8,219.90.
In the 50-share index, Hindalco, Bharti Infratel, ONGC, Tata Motors DVR and Mahindra & Mahindra gained between 0.95 per cent and 1.83 per cent. On the other hand, Aurobindo Pharma, Tata Power, NTPC, Tech Mahindra and Adani Ports slipped between 1.73 per cent and 2.39 per cent.
Anand James, chief market strategist, Geojit BNP Paribas Financial Services said, “Though easing of Brexit fears had allowed a relief rally yesterday, markets showed more restraint today, with only 2 days before the vote. Yellen’s testimony later in the evening was also eyed. Reports of possible announcement of textile policy tomorrow kept up the hopes that reform measures of the recent days have stoked.”
3.07 pm: European shares steadied on Tuesday after a sharp rally in the previous session, although commodities-related stocks came under pressure following a drop in mining and energy shares.
2.24 pm: Siti Cable Network was trading 5 per cent up at Rs 38.85. Read more: Siti Cable Network shares surge over 7%, here is why
Sensex was down 39 points at 26,827.
1.44 pm: Sectorwise, the BSE Auto index was trading 0.33 per cent higher, followed by BSE Oil & Gas (up 0.06 per cent) and BSE Metal (up 0.01 per cent). On the other hand, BSE TECK index and BSE IT index was trading down by 0.37 per cent and 0.32 per cent, respectively.
12.48 pm: Sensex was trading 78 points down at 26788. Nifty was down 28.20 points at 8,210. Meanwhile, Commerce and Industry Minister Nirmala Sitharaman stated that the government is monitoring the developments of ‘Brexit’, or Britain’s exit from the European Union. On Goods and Services Tax (GST), she said that the finance minister is talking to all the political parties. Tamil Nadu has certain issues as that is a manufacturing state and they have some natural reservations and ‘I expect that the Tamil Nadu Chief Minister will support the GST’.
11.35 am: Tata Motors’ subsidiary — Jaguar Land Rover (JLR) has launched 2 litre petrol derivative of Land Rover Discovery Sport at a starting price of Rs 56.50 lakh (ex-showroom, Delhi). The company has taken this step after the changing business environment in India, owing to the limited ban on diesel vehicles, has affected its business as it now looks to introduce more petrol variants of its cars. Further, the company will add three more showrooms this financial year to take its total to 26 by the end of the year. Shares of Tata Motors were trading 0.55 per cent down at Rs 479. Sensex was down 45 points at 26,822. Read more: What Brexit means for Tata Motors; how it will impact automaker’s shares
11.12 am: Shares of Balaji Telefilms gained after the company informed bourses that ‘Udta Punjab’ has grossed Rs 53.80 crore in its opening weekened worldwide, with India contributing Rs 45.40 crore and international markets contributing Rs 8.40 crore. The film was released across 2100 screens pan India and 249 screen overseas. Sensex was down 59 points at 26,807.
10.14 am: Sensex was trading 52.51 points, or 0.20 per cent, down at 26814.41. Meanwhile, Manappuram Finance shares hit their new 52-week high of Rs 61.45.
10.13 am: The BSE Sensex plunged by over 50 points in early trade despite positive global cues on account of profit booking by investors in recent gainers.
10.00 am: The rupee depreciated by 11 paise to 67.42 against the US dollar in early trade due to sustained demand for the American currency from importers amid foreign fund outflows.
9.34 am: In the 50-share index, ICICI Bank, Bharti Infratel, Ambuja Cement, HDFC and ZEEL were up between 0.18 per cent and 0.39 per cent. On the other hand, Bank of Baroda, Kotak Mahindra Bank, State Bank of India, NTPC and Reliance were down between 0.26 per cent and 0.44 per cent. Nifty was trading 27.30 points down at 8,211.
9.21 am: Sensex was trading 27.80 points down at 26839. Nifty was down 12.60 points at 8m225.90.
9.15 am: The BSE Sensex opened 5.56 points up at 26872.48, while Nifty opened 16.90 points up at 8,255.40. Aviation stocks extended their Monday’s gains.
8.10 am: Domestic equity indices BSE Sensex and NSE Nifty are likely to open on a flat note with positive bias tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues.
At 7.55 am (IST), SGX Nifty was up 8 points, or 0.10 per cent, at 8,250.50.
Asian shares got off to a tentative start on Tuesday, as investors paused after a rally triggered by growing expectations that British voters will opt to remain in the European Union in this week’s referendum.
Wall Street rose on Monday, though indices ended far from the session highs, in a relief advance after indications that British voters later this week will choose to remain in the European Union.
The Dow Jones industrial average rose 129.78 points, or 0.73 per cent, to 17,804.94, the S&P 500 gained 12.03 points, or 0.58 per cent, to 2,083.25 and the Nasdaq Composite added 36.88 points, or 0.77 percent, to 4,837.21.
The BSE Sensex on Monday soared 241 points as the government unleashed a new wave of FDI reforms and Brexit worries eased while hectic buying by institutions and talking-up by influential marketmen helped counter Rexit jitters.
Country’s second largest CNG retailer Mahanagar Gas on Monday mopped up Rs 309 crore from anchor investors, a day ahead of its initial share sale. The company would hit the capital market on Tuesday with the Rs 1,040 crore IPO.
Infrastructure firm Hindustan Construction Company Ltd (HCC) is planning to raise Rs 1,000 crore through issue of securities.
(With agency inputs)