9:51 a.m.: Do not see immediate re-valuation of markets, says Mehrab Irani, general manager of Tata Investments Corporation.
9:48 a.m.: Selling pressure was visible across the sectors. Banking, metal, IT, capital goods, FMCG and healthcare stocks were among the worst performers.
9:43 a.m.: Selling pressure picked up pace in the morning trades, the Sensex fell as much as 129 points to 23,424.94 and 50-share Nifty slipped 39 points to 7,123.
9:25 a.m.: Sensex rose as much as 138 points and Nifty moved above its crucial psychological level of 7,200 in the opening trades but soon came off the intraday high levels.
Buying was seen in select BSE oil & gas, metal, realty, auto, power and banking stocks. On the other hand, capital goods and IT stocks were witnessing selling.
From the Nifty-50 basket of stocks, 33 stocks were advancing while 17 were declining.
Cairn India was the top gainer in the Nifty, up 3 per cent to Rs 128.90. ONGC, Adani Ports, Hindalco, ONGC, NTPC, Idea Cellular and Bharti Airtel were also among the gainers.
Bank of Baroda which rallied 25 per cent yesterday was the top loser down 3.55 per cent to Rs 134. Coal India, L&T, Maruti Suzuki, Infosys, HCL Technologies, HDFC, Zee Entertainment and BPCL were also among the laggards.
8:15 a.m.: The Sensex and Nifty are likely to open higher in trades on Tuesday tracking gains on Nifty futures traded on the Singapore Stock Exchange amid firm global cues.
The Nifty futures traded on the Singapore Exchange also known as the SGX Nifty was up 0.46 per cent or 33 points at 7,207.
Meanwhile, other Asian markets were also trading on a firm note. Japan’s Nikkei advanced 0.88 per cent, Hong Kong’s Hang Seng rallied 1.45 per cent and China’s Shanghai Composite surged 2.47 per cent.
On Monday, European stocks rose 2.9 per cent, having shed nearly 10 per cent over the last two weeks. US financial markets were closed for a national holiday but globally-traded US stock futures rose 1.5 per cent.
US retail sales data published on Friday showing firm growth allayed fears – at least for now – that the US economy could be dragged into recession as growth stumbles in many parts of the world.
Back home, foreign institutional investors continued to sell Indian shares in the cash segment. On Monday, FIIs sold shares worth Rs 1,311.59 crore while domestic institutional investors bought shares worth Rs 1,987.45 crore.
Below are the stocks which will be in focus today:
ICICI Banks: The bank plans to raise Rs 50,000 crore from bonds.
Reliance Communications: Reports suggest that the merger deal between Aircel and Reliance Communications may run into debt hurdle.
Reliance Industries: Reliance Industries’ telecom arm Reliance Jio has partnered with 8 telecom companies across the world.
Just Dial: The company has received final observations from SEBI for buyback offer. Just Dial will dispatch the letter to eligible shareholders before Feb 18, 2016 and the record date for buyback was set at Dec 4, 2015.