Sensex closes 49 points down, Nifty ends tad below 7,850; SpiceJet jumps over 10%

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New Delhi | Updated: November 23, 2015 4:33:59 PM

Domestic equity markets opened on a positive note on Monday taking cues from global markets. Sensex opened 76.65 point up at 25,945.14.

Sensex, Nifty, BSE, NSEDomestic equity markets opened on a positive note on Monday taking cues from global markets. Sensex opened 76.65 point up at 25,945.14. (Photo: PTI)

Benchmark indices closed on a flat note on Monday after swinging between minor gains and losses for most of the trading session as sentiment turned cautious ahead of the expiry of derivative contracts in a holiday-shortened week. BSE Sensex closed 49.15 points down at 25819.34, while NSE Nifty closed 7.30 points down at 7849.25.

Weaker Asian markets also kept sentiment subdued, with commodity prices slumping again on the back of a rising dollar and worries about Chinese demand.

Analysts said they did not expect any major direction in markets until the US Federal Reserve meeting on December 15-16 amid rising expectations for a rate hike.

“All eyes will be on December. There is a bit of caution going forward, there is our own rate action and the Fed rate action, which people are watching,” said Arun Gopalan, vice president of research at brokerage firm Systematix Shares & Stocks.

Gaurav Jain, director, Hem Securities, said, “Indices swung between positive and negative terrains on Monday as investors seems to stay cautious before the outcome of emergency meet of US FOMC.”

Share price of SpieceJet jumped 11.40 per cent to Rs 69.40. The scrip opened at Rs 62.90 and touched a high and low of Rs 69.75 and Rs 62.80, respectively, in trade so far.

In the 50-share index, Hindalco, Vedanta, Tata Steel, ITC and Bank of Baroda slid between 1.35 per cent and 3.65 per cent. On the other hand, GAIL, Hero MotoCorp, Asian Paints, Zeel and Idea Cellular gained between 2.40 per cent and 5 per cent.

Share price of Hindalco fell 3.82 per cent while Vedanta slid 2.90 per cent after their exclusion from the benchmark BSE Sensex index. The changes in the index will come into effect from December 21.

But Adani Port and Special Economic Zone rose 2.52 per cent while Asian Paints gained 2.89 per cent after both were included in the Sensex.

Sectorwise, the BSE Metal index and BSE FMCG index declined 1.21 per cent and 1.17 per cent. The BSE Consumer Durables index and the BSE Realty index gained 1.14 per cent and 0.94 per cent, respectively.

Market breadth for the day remained mildly negative and advances to declines ratio for Nifty stood at 22:27 for the day.

The Asian markets closed mostly lower on Monday, as investors continued to weigh the outlook for global monetary policies. Japan’s stock exchange was closed on account of ‘Labour Thanksgiving Day’ holiday.

Asian IndicesLast TradeChange in PointsChange in %
Shanghai Composite3,610.31-20.19-0.56
Hang Seng22,665.90-88.82-0.39
Jakarta Composite4,541.07-20.27-0.44
KLSE Composite1,670.909.010.54
Nikkei 225
Straits Times2,903.49-14.42-0.49
KOSPI Composite2,003.7013.840.7
Taiwan Weighted8,485.7320.280.24

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Markets through the day

3.30 pm: BSE Sensex closed 49.15 points down at 25819.34, while NSE Nifty closed 7.30 points down at 7849.25.

3.22 pm: Nestle India informed BSE that it has commenced manufacturing of Maggi Noodles at Pantnagar factory in Uttarakhand. The scrip was trading 0.39 per cent down at Rs 6,158.

3.13 pm: In a significant development, Qatar has agreed to waive $ 1 billion penalty on India for breaking a long-term LNG contract, and has also consented to change the pricing formula to reflect the slump in global energy rates. After months of intense negotiations, RasGas of Qatar has agreed to not to press for the $1 billion in penalty that Petronet LNG Ltd, India’s biggest import of liquefied natural gas (LNG), has to pay for buying only 68 per cent of the contracted 7.5 million tonnes this year. Shares of Petronet LNG were trading around 6 per cent up at Rs 233.

2.59 pm: Realty firm Sobha has entered into partnership with Chintels India to develop a group housing project comprising of 1,700 flats in Gurgaon. In this regard the company will invest Rs 1,000 crore. The 39-acre project, which is expected to be launched by end of next month, would be developed in phases over the next 6-7 years. The share price of the real estate company was trading 0.07 per cent up after touched intraday high and low of Rs 308.80 and Rs 300.55, respectively.

2.56 pm: Meanwhile, Finance Minister Arun Jaitley said, India will sell shares in some state-run companies when market conditions improve as the government struggles to meet its asset sales target that is crucial to help plug its deficit. Nifty PSU Bank index and Nifty PSE index were down 0.35 per cent and 0.26 per cent, respectively.

2.38 pm: The share price of drug firm Sequent Scientific jumped over 6 per cent on Monday after the company infomed BSE that its subsidiary Alivira Animal Health will acquire Turkey’s Topkim for 20.7 million Turkisk Lira (over Rs 48 crore). The acquisition will be made through Provet Veterinary Products, a subsidiary of Alivira, Sequent Scientific said in a a regulatory filing. The transaction has been valued at the enterprise valuation of Turkish Lira 20.7 million, it added. Sensex was marginally down 8.94 points at 25,859. Nifty was marginally up 3.75 points at 7,860.

2.30 pm: Ricoh India informed BSE that the Company has signed a Memorandum of Understanding (MoU) with Vakrangee for providing state of the art Managed Print Services (MPS) to Vakarangee . The total worth of the Contract is worth Rs 400 core while the duration of the contract will be spread to five years. Shares of Ricoh India were up 7.06 per cent at Rs 894.75. Sensex was down 69 points at 25,799. Nifty was down 15.80 points at 7,841.

1.57 pm: Sensex down 107.76 points at 25,760.73. NSE Nifty was trading 26.85 points down at 7,829.70. BSE Metal index was down 1.33 per cent. European shares opened lower on Monday, dragged down by a steep fall in commodities and energy stocks on demand fears. The pan-European FTSEurofirst 300 was down 0.8 per cent, after ending at three-month highs on Friday, while the Euro STOXX 50 index was 0.7 per cent lower.

1.21 pm: Shares of RPP Infra were trading were trading 3.21 per cent up at Rs 112.60. The scrip jumped after the company informed BSE that it has bagged an order of Rs 25.6 crore from the National Highway Authority of India.

1.16 pm: The BSE Midcap index and Smallcap index were up 0.39 per cent and 0.51 per cent at 10,901 and 11,425.

1.03 pm: Watch maker Titan Co and global information technology major HP on Monday joined hands to offer a range of smart watches to be launched soon. The share price of Titan was trading 1.29 per cent up at Rs 376.35. Sensex was down 39 points at 25,829, while Nifty was down 6.25 points at 7,850.

12.36 pm: Sensex was up 7 points at 25,875. Kotak Mahindra Bank shares gained after its arm received IRDAI approval to commence insurance business. Shares of Kotak Mahindra Bank were up 0.69 per cent at Rs 685.70.

12.01 pm: Shares of Advanta jumped over 2 per cent after the comany said it has received its board approval for the proposal of the amalgamation of the company with UPL. Sensex was up 10 points at 25,879.

11.34 am: Sensex was up 30 points at 25,898. Nifty was up 11.50 points at 7,868. Britannia shares were trading 0.75 per cent up as the FMCG major is aiming at
Rs 20,000 crore turnover within 5-6 years.

11.04 am: The Board of Directors of UPL Ltd and Adanta on Monday approved Advanta’s merger with UPL, subject to necessary approvals. UPL shares were trading 1.79 per cent down at Rs 449.80. Sensex was up 21 points at 25,890.

10.51 am: Shares of Strides Arcolab were trading 2 per cent up at Rs 1,391. The company on November 21 informed BSE that Strides Shasun has received approval from the US health regulator to market Dutasteride capsules, used in treating enlarged prostate gland, in the American market. According to IMS sales data, the US market for Dutasteride capsules is around USD 470 million.

On November 19, in a filing to the bourses, Strides Arcolab had said that the name of the company has changed to Strides Shasun.

10.29 am: Sensex was down 17.89 points at 25,850.60. Sectorwise, the BSE Metal index and BSE FMCG index were down 0.96 per cent and 0.66 per cent. The BSE Realty index was up 1.11 per cent.

9.55 am: The rupee depreciated by 11 paise to 66.30 against the US dollar in early trade on Monday due to appreciation in the US currency overseas. Sensex was down 23.49 points at 25845, while Nifty was up 3.90 points at 7,860.

9.32 am: Metals and mining major Vedanta and Aditya Birla group flagship firm Hindalco Industries will shift out of the BSE benchmark Sensex from December 21. The share price of Vedanta and Hindalco were down 1.93 per cent and 2.13 per cent at Rs 91.35 and Rs 75.65.

These stocks would be replaced by Adani Ports and Special Economic Zone and Asian Paints.

9.16 am: Sensex was up 11.18 points at 25,879. Nifty was up 1.60 points at 7,858. In the 50-share index, Adani Ports, Asian Paints and Bajaj Auto were up 1.82 per cent, 1.27 per cent and 1.02 per cent, respectively.

9.15 am: Domestic equity markets opened on a positive note on Monday taking cues from global markets. Sensex opened 76.65 points up at 25,945.14. Nifty opened 12.95 points up at 7,869.50.

Asian stocks pointed higher on Monday’s morning after the US shares had their best week this year and investors shook off concerns about terror attacks in Paris and Mali. While Japan, the biggest market in the region, is closed for a holiday, Hong Kong futures were up about 0.3 per cent, and Hong Kong, China and Korea futures are also higher.

Brokers said widening of positions by investors tracking gains at other Asian bourses amid growing confidence about the US Fed raising interest rates next month coupled with weekend gains in US markets bolstered trading sentiment.

As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs 94.09 crore on 20th November 2015. Domestic institutional investors bought shares worth Rs 610.16 crore on that day.

The Dow had ended Friday up 0.51 per cent, while the S&P 500 added 0.38 per cent and the Nasdaq 0.62 per cent.

The S&P 500 boasted its best week in almost a year, while Europe’s main stock index enjoyed its strongest week in a month.

Back home, the 30-share Sensex on Friday was in the grip of profit booking initially, but recovered on the back of across-the-board buying in blue-chips and closed higher by 26.57 points, or 0.10 per cent, at 25,868.49. The broader Nifty on Friday ended at 7,856.55, up 13.80 points, or 0.18 per cent, after trading between 7,817.80 and 7,906.95 intra-day.

(With inputs from agencies)

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