Sensex Rises Nearly 100 Points Led By Gains In ITC, L&T


12:40 p.m.: The stock markets moved higher in noon deals. Sensex advances 80 points to 26,477 and Nifty jumps 28 points to 8,117 on the back of gains in heavyweights like ITC, Larsen & Toubro, ICICI Bank, State Bank of India and HDFC Bank.

12:34 p.m.: European markets open lower. Germany’s DAX falls 0.4 per cent, France’s CAC40 index declines 0.55 per cent and Britain’s FTSE100 slumps 0.8 per cent.

11:59 a.m.: Buying visible across sectors barring IT stocks. Oil & gas, FMCG, realty and capital goods indices gain over 1 per cent each.

11:26 a.m.: Stock markets continue to trade on a lacklustre note. Sensex slips 16 points to 26,382 and Nifty down 3 points at 8,086.

11:19 a.m.: Market breadth was positive as 1,612 stocks were advancing while 533 were declining on the BSE.

11:10 a.m.: Select auto stocks were witnessing selling pressure. The BSE Auto index was down 0.27 per cent; Motherson Sumi, Maruti Suzuki, Bharat Forge, Bajaj Auto, Tata Motors, Mahindra & Mahindra and Hero MotoCorp were among the laggards.

11:00 a.m.: Bajaj Finserv shares jumped as much as 5 per cent on Monday after a news report suggested that the financial services company may buy out German company Allianz SE’s stake in both of their joint venture insurance companies – Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance.

Bajaj Finserv holds 74 per cent stake in both Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance Company while the rest is owned by the German company.(Read)

10:51 a.m.: Oil & gas stocks were witnessing buying interest. The BSE Oil & Gas index was up 1.56 per cent; HPCL, Bharat Petroleum, Indian Oil, GAIL India, Oil India, Castrol, ONGC, Petronet LNG and IGL were among the gainers.

10:43 a.m.: Real estate stocks were witnessing buying interest. The BSE Realty index was up 1.5 per cent; Indiabulls Real Estate was the top gainer from this space, up 5.2 per cent to Rs 90.70. Unitech, Godrej Properties, Oberoi Realty, DLF, Prestige Estates, HDIL and NBCC were also among the gainers, up 0.65-3.68 per cent each.

10:27 a.m.: HPCL was top gainer from the mid-cap space, up 4.56 per cent to Rs 978. Bajaj Finserv, Oriental Bank of Commerce, Allahabad Bank, Indian Bank, JP Associates, MRPL, Reliance Communications, Exide Industries and Biocon were also among the gainers, up 1.6-3.4 per cent each.

10:08 a.m.: TCS, Infosys and Tech Mahindra were among the major losers today in the Nifty50 index amid concerns over the impact of Brexit on the Indian outsourcing companies.

At their day’s lows, TCS fell as much as 3 per cent to Rs 2,496 while Tech Mahindra declined 2.6 per cent while Infosys slipped 1.7 per cent.

Global brokerage Bank of America Merrill Lynch has downgraded TCS to “underperform” from “buy”, citing the Indian outsourcer’s exposure to the financial services sector in the European Union.(Read)

9:52 a.m.: The broader markets were outperforming the benchmark indices. The BSE mid-cap index was up 0.4 per cent and small-cap index advanced 0.88 per cent compared with 0.06 per cent decline in the benchmark indices.

9:32 a.m.: Sensex and Nifty edged lower in the opening deals today tracking subdued global cues in aftermath of Brexit.

As of 9:31 a.m., the Snesex was down 17 points at 26,380 and Nifty slipped 8 points to 8,080.

Meanwhile, other Asian markets were trading on a subdued note. Hong Kong’s Hang Seng was down 0.78 per cent, Taiwan Weighted slipped 0.25 per cent and South Korea’s KOSPI fell 0.26 per cent.

Back home, foreign institutional investors sold shares worth Rs 629.14 crore while domestic institutional investors bought shares worth Rs 115 crore on Friday.

In early trades, IT stocks were witnessing selling pressure. The BSE IT index was top sectoral loser, down 1.32 per cent.

At the same time buying was seen in realty, healthcare, oil & gas, FMCG and banking shares.

From the Nifty basket of stocks, 31 were advancing while 20 were declining.

TCS was top Nifty loser, down 2.43 per cent at Rs 2,511. Infosys, Zee Entertainment, Maruti Suzuki, Tech Mahindra, Wipro and Tata Steel and Tata Power were also among the losers.

On the other hand, BPCL, ACC, Dr Reccy’s Labs, State Bank of India, Larsen & Toubro, Bank of Baroda, ONGC and Aurobindo Pharma were among the gainers.

8:38 a.m.: Indian stock markets are set to correct further as global markets struggled to shake off deep uncertainty sparked by Britain’s decision to leave the European Union. The Nifty futures on Singapore stock market were down 0.77 per cent at 8,016, indicating that Indian stock markets are poised to open sharply lower. On Friday, the Sensex and Nifty slumped over 2 per cent.

Elsewhere, Asian markets remained weak today while the British pound tumbled more than 2 per cent. Sentiment remained weak and trading was volatile, even if the worst of the turmoil seen on Friday, when global stock markets suffered their biggest decline in nearly five years, had eased.

Among many questions the British exit, or Brexit, has triggered are just how much UK and European economies will slow, how they will negotiate their new relationship and how European leaders will try to boost the crumbling European Union.