The benchmark BSE Sensex fell on Tuesday as investors cut down their bets on disappointing macroeconomic data and weak trend in Asian markets. IT, teck, consumer durables, capital goods, auto and healthcare sectors are trading in the red, falling up to 0.95%. The gauge had gained 377.52 points in the previous two sessions. Market remained closed on Monday on account of Independence Day holiday.
The NSE Nifty also declined. The brokers said market mood took a hit after the IIP, CPI data, which was released after trading hours on Friday, showed Industrial output grew by 2.1% in June, although down from 4.2% a year ago, on account of poor show by manufacturing and heavy contraction in capital goods.
Here are the updates:
11:25am: BSE Sensex is trading lower by 20.55 points, or 0.07%, to 28,131.85, while the Nifty falls 10.30 points, or 0.12%, to 8,661.85.
11:15am: Adani Ports & Special Economic Zone Ltd rises 3.3% to Rs.265.75. The stock gained 19% in last eight days.
11:05am: Jain Irrigation Systems Ltd rises 6% to Rs.78.20 after the company posted a 300% increase in its net profit in June quarter to Rs.58.52 crore against Rs.14.53 crore a year ago. Total income rose 4.7% to Rs.1,726.31 crore.
10:55am: Marksans Pharma Ltd falls 13% to Rs.40.15. The company said its net profit fell 97% to Rs.1.02 crore in June quarter against Rs.31.47 crore a year ago. Net sales fell 11.14% to Rs.186.75 crore.
10:45am: Infosys Ltd falls 3.2% to Rs.1,029.30. Infosys Ltd faced Brexit impact after the Royal Bank of Scotland shelved plans to set up a separate bank in the UK, for which the company was a key technology partner, reports Business Standard . According to the report, Infosys could lose as much as $50 million.
10:35am: Kiri Industries Ltd rises 10.6% to Rs.390. The company posted a net profit of Rs.25.23 crore in June quarter against net loss of Rs.8.65 crore a year ago. Net sales rose 60% to Rs.250.24 crore.
10:25am: Jet Airways India Ltd falls 3.8% to Rs.521 after the company reported a 53.47% decline in net profit for the June quarter, hit by higher operating expenses and lower sales. The airline’s net profit dropped to Rs.103.14 crore in the three months ended 30 June from Rs.221.70 crore in the year-ago quarter. Net sales fell by 2.07% to Rs.5,112.02 crore from Rs.5,220.11 crore a year ago.
10:15am: Wockhardt Ltd falls 4.1% to Rs.777.65 after the company said its net profit fell 83% to Rs.15.89 crore in June quarter from Rs.91.61 crore a year ago. Total income rose 5.7% to Rs.1,160.30 crore.
10:05am: Vakrangee Ltd falls 5.7% to Rs.172.65 after huge block deal. Around 3.01 million shares of the company changed hands in three block deals. However, the buyers and the sellers names were unknown, according to Bloomberg report.
9:55am: Suprajit Engineering Ltd rises 6.3% to Rs.204. The company said its net profit rose 3% to Rs.12.80 crore in June quarter against Rs.12.42 crore a year ago.
9:45am: Shalimar Paints Ltd falls 4.4% to Rs.153.85. The company said it reported a net profit of Rs.68 lakh in June quarter against net loss of Rs.2.10 crore a year ago.
9:35am: The 30-share S&P BSE Sensex is currently trading higher by 7.83 points, or 0.03%, to 28,160.23, while the Nifty 50 of the National Stock Exchange (NSE) falls 2.75 points, or 0.03%, to 8,669.40.
9:30am: Unitech Ltd falls 11% to Rs.5.49. According to PTI report, the company expressed its inability before the Supreme Court to refund money to the home buyers over its two delayed housing projects in Noida and Gurgaon. “We don’t have money. If we had money, we would have constructed the flats and buildings and given to them,” senior advocated AM Singhvi, the counsel for Unitech Ltd, told a bench of Justices Dipak Misra and UU Lalit said.
9:25am: The Indian rupee on Tuesday is trading marginally higher against the US dollar, at 66.82 a dollar, up 0.10% from its previous close of 66.89, tracking the gains in its Asian peers and ahead of the wholesale price inflation (WPI) data due after 12.30pm.
9:20am: The 10-year bond yield is trading at 7.112%, from its Friday’s close of 7.103%.
9:15am: The dollar falls to ¥100.48 from ¥101.21 and the euro rises to $1.1193 from $1.1183.
9:10am: Benchmark US crude sheds 29 cents at $45.45 per barrel in New York. The contract jumped $1.25, or 2.8%, to $45.74 a barrel on Monday after Russia said it would work with Saudi Arabia to achieve market stability. Brent crude loses 33 cents at $48.02 a barrel in London.
9:05am: Japan’s Nikkei 225 falls 0.3% to 16,827.09 and South Korea’s Kospi ekes out a 0.1% gain to 2,052.15. Hong Kong’s Hang Seng index adds less than 0.1% to 22,943.73 while Australia’s S&P/ASX 200 dips 0.1% to 5,533.20. Stocks in mainland China and Taiwan are lower but markets in Indonesia and Singapore rise.
9:00am: Asian stock markets drifted sideways on Tuesday as the price of oil took a breather from a three-day rally. Investors were digesting mixed reports on the health of the global economy and awaiting US data later in the week.
8:50am: The Dow Jones industrial average climbed 0.3% to 18,636.05. The Standard & Poor’s 500 index rose 0.3% to 2,190.15. The Nasdaq composite added 0.6% to 5,262.02.