11:27 a.m.: UR Bhat, MD of Dalton Capital, expects Indian debt markets to do well on the back of inflows from overseas investors in the wake of negative yields in many parts of the world
11:20 a.m.: Expert view – Expect market to consolidate with a negative bias, says UR Bhat, MD of Dalton Capital. Earnings have to revive for the current levels to sustain, he adds.
11:12 a.m.: Markets edge higher amid choppy trade: Sensex up 70 points while Nifty rises to 8,585 amid some buying in energy, FMCG and IT stocks. Heavyweights TCS and RIL up nearly 1.5 per cent.
11:00 a.m.: Stock update: HSIL trades 1% lower at Rs. 334.50 on profit-taking despite strong Q1 performance
10:55 a.m.: Results impact: Indiabulls Real Estate trades 2% higher at Rs. 86.70 on strong Q1 performance
10:45 a.m.: Stock update: Suven Life Sciences shares trade 3% higher at Rs. 207 on surge in Q1 profit
10:40 a.m.: Earnings impact: Parag Milk Foods trades 1% lower at Rs. 327 on muted revenue growth in Q1
10.15 a.m.: Markets are lacklustre today in the absence of strong local or global cues. Both Sensex and Nifty are trading flat with a negative bias.
Oil and gas stocks pared gains. IT and FMCG stocks however are witnessing buying today. On the downside, healthcare stocks are down 1 per cent, underperforming the broader markets.
Sun Pharma traded 4 per cent lower, following weak numbers of its subsidiary Taro Pharma. Grasim Industries and Hindalco, both from Aditya Birla Group, traded 2-3 per cent lower.
Meanwhile, Dilip Buildcon made a strong listing, with its shares rising nearly 14 per cent in market debut. (Read the full story)
09.50 a.m.: Markets have come off the day’s lows on account of buying in energy, FMCG and IT stocks. The Sensex is up 7 points now, while the Nifty is trading around 8,570 levels.
State-run BPCL is up 2 per cent and is the top Nifty50 gainer. Cement manufacturer ACC, cigarette maker ITC, Idea Cellular, Hero MotoCorp, UltraTech Cement and Lupin are the Nifty50 stocks trading with over 1 per cent gains.
Bank of Baroda extended losses and is now trading 7.5 per cent losses.
09.25 a.m. Bank of Baroda turned profitable after back-to-back losses, but its total bad loans jumped 6 per cent sequentially, weighing down the stock. (Read the full story)
9.20 a.m.: The BSE Sensex and Nifty50 index opened flat, but bearish sentiments took over Dalal Street quickly, sending the Sensex down by over 70 points to around 27,700. The Nifty also slipped below the key 8,550 levels briefly.
Bank of Baroda was the top loser in Nifty50, falling over 7 per cent, following the public lender’s weak Q1 numbers.
Sun Pharma, Zee Entertainment, Tata Motors DVR and Yes Bank were the other big losers in the Nifty50 index. Meanwhile, BPCL was the top gainer in Nifty, up 2.13 per cent followed by ITC and HCL Tech, which were up over 1 per cent each.
9.00 a.m.: Rupee opens lower at 66.81 per dollar against Wednesday’s close of 66.72.
8.35 a.m.: Indian stock markets are likely to open flat on Thursday, tracking weak trade in Asia. The Nifty futures trading on the Singapore Exchange (SGX) were up 2 points or 0.02 per cent at 8,592.50, indicating a flat start for Sensex and Nifty.
Indian markets have come under pressure over the last two days, during which the Nifty has corrected by 135 points. Experts had warned that a correction in markets is around the corner, following the sharp run-up in prices over the last five months.
Domestic institutional investors are booking profits aggressively. On Wednesday, they were net sellers to the tune of Rs. 747 crore. However, foreign investors continue to buy cash shares in local markets. They bought equities worth Rs. 413 crore yesterday.
Corporate earnings will continue to be in focus, with state-run Bank of Baroda reporting its first quarter number today. Investors would be keenly watching if the lender has managed to control its bad loan situation.
The banking sector will be in focus today, considering State Bank of India, the country’s biggest lender, will report numbers tomorrow.
Page Industries, Coffee Day Enterprises, IPCA Lab, MRF are some other major companies that will report numbers today. Dilip Buildcon will list today. The issue was subscribed 21 times.
Asian shares fell today, reversing recent gains as investors took profits after Wall Street declined overnight, and oil prices tumbled on news of a surprising jump in US government stockpiles.