Live: Sensex Edges Lower, Nifty Trades Below 7,550

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11:22 a.m.: Jewellery exporter and retailer Rajesh Exports today said it has won a Rs 1,188-crore export order from the United Arab Emirates.

In a BSE filing, Rajesh Exports said it “has bagged an export order worth Rs 1,188 crore of designer range of gold and diamond-studded jewellery and medallions from the UAE”.(Read)

11:15 a.m.: Market breadth was positive as 1,192 stocks were advancing while 887 were declining.

10:55 a.m.: Buying visible in oil & gas, realty, metal, power, auto and capital goods stocks.

10:48 a.m.: Shares of innerwear makers such as Rupa & Company, Lovable Lingerie and Page Industries were in limelight on Monday in an otherwise dull market.

Rupa & Company’s shares were locked in upper circuit of 20 per cent at Rs 329.40 on the Bombay Stock Exchange after the company announced that its subsidiary Oban Fashions Private Limited acquired the exclusive licence from French Connection Limited to manufacture and market innerwear and related products with the brand name ‘FCUK’ in India.(Read)

10:25 a.m.: Lupin was the top Nifty loser, down 2 per cent to Rs 1,511. Dr Reddy’s Labs, Wipro, HDFC, Cipla, Mahindra & Mahindra, Infosys, ACC, Asian Paints and HDFC Bank were also among the losers.

10:10 a.m.: The stock markets edged lower owing to selling in IT, FMCG and healthcare stocks. The Sensex was down 73 points at 24,600 and Nifty slipped 20 points to 7,534.

9:51 a.m.: IT stocks were among the worst hit in trades so far. The BSE IT index was down 0.66 per cent; Infosys, TCS, Tech Mahindra, Wipro, HCL Technologies, Mindtree, OFSS and Persistent Systems were among the losers.

9:37 a.m.: Reliance Infrastructure was the top gainer from the mid-cap space; the stock advanced 2.13 per cent to Rs 552. Titan, JSW Energy, Pidilite Industries, Reliance Capital, Adani Power, Page Industries, Bajaj Holdings, Divis Labs and Emami were also among the gainers.

9:25 a.m.: The Sensex rose over 100 points and Nifty hit high of 7,580 in the opening deals but soon turned flat on the back of weakness in IT shares.

At 9:20 a.m., the Sensex was up 23 points at 24,697 and Nifty was at 7,563, up 7 points.

From the Nifty-50 basket of shares, 28 were advancing while 22 were declining.

Infosys, Mahindra & Mahindra, Wipro, BPCL, Cipla, Asian Paints, TCS, Tata Steel and HDFC were among the losers, down 0.5-1 per cent each.

On the other hand, Bharti Airtel was the top Nifty gainer, the stock advanced 2.75 per cent to Rs 344 after India’s biggest mobile operator struck Rs 3,500 crore-deal to buy Aircel’s 4G spectrum in eight circles. With this deal, Bharti Airtel completes its pan-India footprint in 4G.

Sun Pharma also advanced 1.3 per cent to Rs 823 after the company received approval from the US Food and Drug Administration (FDA) for its non-steroid drug BromSite used to treat inflammation and prevent pain in patients undergoing cataract surgery.

BHEL, ONGC, Tata Motors, Hindalco, Tata Motors DVR, Adani Ports and Coal India were also among the gainers.

The broader markets were marginally outperforming the benchmark indices. The BSE mid-cap and small-cap indices were up 0.3 per cent each.

7:55 a.m.: The BSE Sensex is likely to open lower on Monday tracking subdued trading across Asian markets. Japan’s Nikkei fell 1.56 per cent, Hong Kong’s Hang Seng declined 0.13 per cent and Taiwan Weighted slipped 0.15 per cent. On the other hand, China’s Shanghai Composite was up 1.6 per cent.

The Nifty futures, traded on Singapore Exchange (SGX Nifty), were down 0.2 per cent or 15 points at 7,566 in early trade.

On Friday, a sharp rally in crude oil and energy shares lifted US stocks, but indexes registered losses for the week. US crude oil settled more than 6 per cent higher after data showed lower stockpiles, driving gains of 2 per cent in the S&P energy index.

The Dow Jones industrial average closed up 35 points, or 0.2 per cent, to 17,576.96, the S&P 500 gained 5.69 points, or 0.28 per cent, to 2,047.6 and the Nasdaq Composite added 2.32 points, or 0.05 per cent, to 4,850.69.

Back home, foreign institutional investors bought shares worth Rs 180 crore, while domestic institutional investors sold shares worth Rs 159 crore on Friday.

Bharti Airtel will be in limelight today after India’s biggest mobile operator struck a Rs 3,500 crore-deal to buy Aircel’s 4G spectrum in eight circles. With this deal, Bharti Airtel completes its pan-India footprint in 4G.

Sun Pharmaceutical Industries will be in focus as the company received approval from the US Food and Drug Administration (FDA) for its non-steroid drug BromSite used to treat inflammation and prevent pain in patients undergoing cataract surgery.