Mumbai: The benchmark BSE Sensex dropped by over 68 points in the morning hours on Friday, breaking its six-session winning streak due to profit booking in power, metal, consumer durables and healthcare stocks amid weak Asian leads after North Korea launched another missile over Japan.
Brokers said investors booked profits amid a weak trend in Asian markets as geopolitical tensions revived after North Korea fired another missile over Japan’s northern island. Among other Asian markets, Hong Kong’s Hang Seng shed 0.51%, while Shanghai Composite Index was down 0.34% in early trade. Japan’s Nikkei, however, was up 0.10%. The US Dow Jones ended 0.20% higher on Thursday. Here are the latest updates from the market:
12.21pm: BSE Sensex lost 49 points, or 0.15%, to 32,193, while the Nifty 50 trade lower by 29 points, or 0.28%, at 10,058.
■ 12.10pm: Tata Teleservices Ltd stock dropped 5.6% to Rs6.35. Tata Group chairman N. Chandrasekaran said they are considering winding down the operations of Tata Teleservices, The Times of India reported, citing people familiar with the matter.
■ 12.05pm: Wipro Ltd shares rose over 1% after the company said it was given a seven-year contract by Germany-based Innogy SE to manage its data centre and cloud services, the company said in a BSE filing on Friday. The stock was trading 0.37% up at Rs285 on BSE.
■ 11.43am: BSE Sensex traded lower by 76 points, or 0.24%, to 32,166, while the Nifty 50 dropped 36 points, or 0.36%, at 10,050.
■ 11.30am: Vedanta Ltd shares dropped Rs5.50, or 1.72%, to Rs314.10 on BSE. The state pollution control board of Odisha on 13 September ordered the company to temporarily shut three units of its 1215MW power plant and two units of its 2400MW power plant in Jharsuguda due to a breach in ash pond, the company said in a BSE filing on Thursday.
■ 10.34am: BSE Sensex dropped 47 points, or 0.15%, to 32,194, while the Nifty 50 lost 25 points, or 0.25%, at 10,062.
■ 10.25am: ICICI Lombard General Insurance Co. Ltd’s initial public offering opens on Friday. The ICICI Lombard IPO, a pure offer for sale, will see ICICI Bank and Fairfax Financial Holdings Ltd sell around 86.24 million shares with a price band of Rs651-661 per share. ICICI Lombard expects to raise up to Rs5,700 crore.
■ 10.27am: Tata Sons Ltd is looking to change its status from a public limited company to a private limited one and has sought approval from its shareholders to amend its memorandum of association and articles of association for the same, the Business Standard reported on Friday.
■ 10.05am: BSE Sensex traded lower by 35 points, or 0.11%, to 32,207, while the Nifty 50 dropped 20 points, or 0.20%, at 10,067.
■ 10am: Max Financial Services Ltd rose 3.6% to Rs621.05 after a huge block deal. Around 6.20 million shares or 2.3% stake of the company changed hands in two block deals, Bloomberg reported. However, details of the buyers and sellers were not known.
■ 9.55am: Indiabulls Ventures Ltd gained 4% to Rs294.10 after brokerage firm CLSA added Indiabulls Ventures to model portfolio.
■ 9.50am: Coal India rose 1.5% to Rs258.70 after a news report said that it is on track to achieve 1 billion tonne output target.
■ 9.26am: BSE Sensex opened almost unchanged at 32,245, down 1 point. The NSE Nifty opened lower 6 points, or 0.06%, at 10,080.
■ 9.20am: Bharati Defence and Infrastructure Ltd surged 20% to Rs10.84 after Economic Times reported that German Dry Docks Group has approached the lenders of troubled Bharati Defence and Infrastructure (formerly Bharti Shipyard) for a possible acquisition, pegging its enterprise value at around $370 million.
■ 9.18am: The rupee opened at 64.16 a dollar. At 9.15am, the rupee was trading at 64.12 a dollar, up 0.01% from its Thursday’s close of 64.13.
■ 9.15am: The 10-year bond yield was at 6.579% compared to its previous close of 6.59%. Bond yields and prices move in opposite directions.
■ 9.10am: Asian currencies were trading higher. Malaysian ringgit was up 0.41%, Indonesian rupiah 0.14%, Japanese yen 0.12%, China renminbi 0.07%, Taiwan dollar 0.07%, Singapore dollar 0.06%. However, China Offshore spot was down 0.11%, Philippines peso 0.11%., South Korean 0.06%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 92.068, down 0.06% from its previous close of 92.124.