Domestic equity indices BSE Sensex and NSE Nifty closed the first day of fiscal 2017 in red on account of profit booking amid weak global cues. Sensex closed 72.22 points down at 25,269.64, while Nifty settled 25.35 points down at 7,713.05.
Among the 50 components in the Nifty 50 pack, 20 ended the day in green with Bank of Baroda shares surged the most — 3.98 per cent, followed by ITC (up 2.36 per cent), ACC (up 2.32 per cent) and Larsen & Toubro (up 1.70 per cent). On the other hand, Bosch, Bharti Airtel, Tech Mahindra, Idea Cellular and TCS plunged 4.26 per cent, 4.23 per cent, 2.72 per cent, 2.68 per cent and 2.47 per cent, respectively.
READ MORE: Ten stocks that remained in news today
Sectorwise, the BSE Telecom index and BSE Oil and Gas index dipped 2.40 per cent and 1.24 per cent. The BSE Realty and BSE Capital Goods index gained 2.97 per cent and 1.24 per cent, respectively.
Vinod Nair, head of research, Geojit BNP Paribas Financial Services, said, “The market turned lackluster at the start of the new financial year as the dragging manufacturing data in euro zone forced investors to book profit.”
Among day’s major market moving events, shares of Alkem Laboratories slipped more than 6 per cent intraday after the company received as many as 8 observations from the UK health regulator with respect to its Taloja manufacturing facility.
On the other hand, shares of JP Associates remained in action on Friday after the stock rallied more than 16 per cent intraday on NSE after the company informed bourses that the board at its meeting held on March 31 has approved the definitive agreement with UltraTech Cement for Sale of part of its cement business.
Shares of IVRCL, which has been in news for quite some time due to the mishap at Kolkata, corrected by 9 per cent in today’s session after falling for more than 6 per cent in Thursday’s session.
Asian equity markets ended mostly lower on Friday follwoing weak close on Wall Street overnight coupled with a disappointing survey of Japanese business issued by the central Bank of Japan. Japanese shares closed down, as the yen continued to strengthen and the Bank of Japan’s latest Tankan business sentiment survey showed conditions and the outlook among large manufacturers worsened in March. Hong Kong’s shares fell the most in five weeks after rating agency Standard & Poor’s downgraded its outlook for China and Hong Kong. However, Chinese shares bucked the downtrend, as stronger-than-expected business activity in both the manufacturing and non-manufacturing sectors added to confidence that Chinese growth has stabilised.
Markets through the day
3.30 pm: Sensex closed 72.22 points down at 25,269.64, while Nifty settled 25.35 points down at 7,713.05.
3.23 pm: Den Networks share price soared over 15 per cent after it informed the company has entered into an agreement with Wall Street Investment Ltd for selling off its 55 per cent equity stake in DEN Sports for a consideration of Rs 43.32 crore. This includes the sale of shares from Den Networks and preferential allotment by Den Sports. READ MORE
3.09 pm: Bharat Heavy Electricals (BHEL) has successfully commissioned its fifth 500 MW set at Chandrapur Super Thermal Power Project (STPP) in Maharashtra. With this, 9 coal-based sets aggregating to 3,340 MW, all supplied and commissioned by BHEL, are now operational at Chandrapur STPP of Maharashtra State Power Generation (MAHAGENCO). Notably, the commissioned unit is the second 500 MW unit of Stage-III (2×500 MW) of the project being executed by BHEL. Shares of BHEL were trading 3.34 per cent up at Rs 117.55. Sensex was down 75.54 points, or 0.30 per cent, at 25,266.32.
2.55 pm: Meanwhile, TVS Motor Company shares hit their fresh 52-week high of Rs 329.50 on Friday. The scrip was trading 0.79 per cent up at Rs 325.20.
2.20 pm: The BSE Sensex was currently at 25,231, down by 110 points or 0.44 per cent after trading in a range of 25,354.94 and 25,119.35. There were 11 stocks advancing against 19 stocks declining in the index.
2.09 pm: Bharti Airtel shares were trading 5.06 per cent down at Rs 333.15. Sensex was down 86.13 points at 25,255. Nifty was trading 31.10 points down at 7,707.
2.06 pm: Mahindra & Mahindra (M&M), India’s leading SUV manufacturer, reported its auto sales numbers which stood at 52,718 units during March 2016 as against 45,124 units during March 2015, representing a growth of 17 per cent. The passenger vehicles segment (which includes UVs, Cars and Vans) sold 26,885 units in March 2016 as against 22,183 units during March 2015, a growth of 21 per cent. Shares of M&M were trading 1.33 per cent down at Rs 1,193.55. Sensex was trading 1114 points down at 25,228.
1.30 pm: European equities hit a one-month low on the first day of the quarter on Friday as Zurich Insurance fell sharply after its shares traded without the attraction of its latest dividend payout, and energy stocks tracked weaker oil prices.
1.10 pm: Shares of Maruti Suzuki jumped as much as 1.36 per cent on Friday after the company posted a 15.9 per cent rise in total sales in March at 1,29,345 units as against 1,11,555 units in the same month last year. The BSE Auto index was trading 0.57 per cent down at 17,898.52.
1.03 pm: UltraTech Cement was trading 0.96 per cent down at Rs 3,196. UltraTech Cement will buy Jaiprakash Associates Ltd’s cement plants for Rs 1,5900 crore including debt, the companies said in a revised deal unveiled on Thursday.
12.41 pm: Sensex tumbled 174 points to 25,167 on account of weak opening in European markets. Nifty was trading 53.25 points down at 7,685.
12.35 pm: The 30-share index slipped further and was trading 145 points down at 25,196.36. Escorts Agri machinery segment (EAM), a subsidiary of Escorts, has sold 5,403 tractors in March 2016 against 4223 tractors in March 2015. Domestic sales in March 2016 stood at 5,327 tractors against 4,163 in March 2015. Export for the month of March 2016 stood at 76 tractors against 60 tractors in March 2015. Shares of Escorts were trading 0.14 per cent up at Rs 139.25.
12.01 pm: Ashok Leyland shares were trading 1.80 per cent up at Rs 110.50. The comapny reported an increase of 31 per cent in March 2016 sales to 16,702 units as against 12,754 units sold in the same period of last year. The company has experienced a jump of 32 per cent in its medium and heavy commercial vehicle (M&HCV) products’ segment to 13,240 units in March 2016. The company’s light commercial vehicle (LCV) segment witnessed a rise of 27 per cent to 3,462 units in March 2016.
11.31 am: Sensex was down 110 points at 25,231. Indian Bank has successfully raised Rs 500 crore under Basel III compliant Additional Tier I Bonds on March 30, 2016 with a coupon of 11.15 per cent per annum from Rural Electrification Corporation. Shares of Indian Bank were trading 2.02 per cent up at Rs 106.
11.17 am: IVRCL shares extended losses for the second straight day on Friday after a portion of the flyover being built by the company in Kolkata collapsed. The share price of the company which fell 6 per cent on Thursday were trading over 5 per cent down in the morning trade. Sensex was down 95.25 points at 25,246. READ MORE
10.42 am: Bharat Wire Ropes shares made a debut on bourses on Friday listing 5 per cent higher at Rs 47.32 on BSE against the issue price of Rs 45. On the National Stock Exchange (NSE), shares of the company listed at Rs 47.25. Sensex was down 63.69 points at 25278. Nifty was trading 24.70 points down at 7,713. READ MORE
10.16 am: MEP Infrastructure shares surged as much as 7.89 per cent in the early trade on Friday after it informed bourses that it has received Letter of Acceptance from Road Infrastructure Development Company of Rajasthan (RIDCOR) to collect fee through contractor at two stretches on Alwar-Sikandra Road. READ MORE
Sensex was down 16.56 points at 25,325. Nifty was down 11.85 points at 7,726.
9.45 am: Jaiprakash Associates shares were trading 13.48 per cent up at Rs 8.67. Sensex was down 30 points at 25312.17, while Nifty was trading 15.80 points down at 7,722.60. READ MORE
9.41 am: KEC International (KEC) shares gained over 2 per cent in the early trade after it informed bourses that the company has secured new orders of Rs 836 crore across various businesses. In the transmission and distribution (T&D) segment, the company bagged an order worth Rs 608 crore from Powergrid Southern Interconnector Transmission System — a wholly-owned subsidiary of PGCIL — for construction of transmission line associated with ‘Beyond Vemagiri’ Transmission System Project. It also bagged orders worth Rs 129 crore from Power Grid Jabalpur Transmission — a wholly-owned subsidiary of PGCIL — for construction of transmission lines associated with Vindhyachal-V project.
9.24 am: Aviation stocks were trading lower in the early trade after oil companies increased jet fuel prices by 8.7 per cent to Rs 42,157 per kl in Delhi. SpiceJet, IndiGo and Jet Airways were down by 0.08 per cent, 0.91 per cent and 0.42 per cent, respectively. Sensex was down 100.19 points at 25241. Nifty was trading 38.30 points down at 7,700.10.
9.16 am: Sensex was down 85.32 points at 25,256.54. Nifty was trading 27.70 points down at 7,710.70. Mahindra and Mahindra and Bharti Airtel were down 1 per cent.
9.15 am: The BSE Sensex opened 40.16 points down at 25,301.70, while Nifty 50 index opened 20.35 points lower at 7,718.05.
8.43 am: The BSE Sensex and NSE Nifty are likely to open in red on Friday tracking Nifty futures on the Singapore Stock Exchange and weak global cues.
At 8.31 am (IST), SGX Nifty was down 41.50 points, or 0.54 per cent, at 7,746.
Asian shares and the dollar both lost more ground as investors began the new quarter in a cautious mood, with glimmers of life in China’s economy offset by a darkening mood in Japan.
On Wall Street, the Dow ended 0.18 percent lower on Thursday, while the S&P 500 lost 0.2 per cent and the Nasdaq edged up 0.01 per cent.
The BSE Sensex on Thursday inched up by 3.28 points to 25,341.86 on caution due to carry-forward of positions to the April series and S&P putting China on negative outlook.
Foreign funds continued their buying spree as they bought shares worth Rs 4,056.62 crore on Thursday, as per the provisional data of stock exchanges.
Aviation stocks will remain in focus on Friday as Jet Fuel prices were hiked in Delhi by 8.7 per cent to Rs 42,157 per kl.