Sensex Trades On Flat Note; ICICI Bank, TCS Among Laggards

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12:45 p.m.: ICICI Bank remians the top loser in Nifty, down 2 per cent to Rs. 278. Cipla Eicher Motors, Bharti Airtel, ITC, Infosys, TCS, HDFC Bank and HDFC were also among the laggards.

12:30 p.m.: Ashok Leyland was the top gainer from the mid-cap space, up 6 per cent at Rs. 90. Shriram City Union Finance, Glenmark, Bajaj Finserv, NALCO, Emami, Sun TV and Exide Industries were also among the gainers.

12:21 p.m.:JSW Steel shares advanced as much as 2.8 per cent to Rs. 1,683 after company reported a multi-fold jump in consolidated net profit at Rs. 726.46 crore for the quarter ended on September 30, 2016.

11:52 a.m.: Tata group stocks on Friday bounced back after three days of continuous decline, rising up to 5.6 per cent, on value-buying at a lower level.

Tata Motors jumped 2.89 per cent, Tata Steel rose 1.81 per cent and Tata Power gained 1.75 per cent on BSE.

11:33 a.m.: Metal stocks were witnessing good buying interest. The BSE Metals index was up 1.8 per cent; NMDC, NALCO, JSW Steel, Vedanta, Tata Steel, SAIL and Hindalco were among the gainers.

11:13 a.m.: The overall market breadth was positive as 1,535 stocks were advancing while 655 were declining.

10:54 a.m.: Shares of Tech Mahindra surged as much as 7.2 per cent to hit intraday high of Rs. 444 after the IT company reported better-than-expected earnings in the second quarter of current financial year.

Tech Mahindra reported a 17.5 per cent fall in consolidated net profit at Rs. 643.4 crore for the fiscal second quarter that ended on September 30, 2016, but said it looks to grow despite some macroeconomic challenges.

10:43 a.m.: The stock markets recovered from intraday low levels on the back of buying in metal and auto shares. Sensex was up 59 points at 27,975 and Nifty was at 8,645, up 29 points.

10:08 a.m.: Sensex and Nifty came off the intraday low levels on the back of heavyweights like Tata Motors, Maruti Suzuki and Sun Pharma.

The Sensex was down 21 points at 27,895 and Nifty was at 8,618, up 3 points.

Most of the Tata Group shares rebounded in trades today after declining for three days. Tata Metaliks was the top gainer among the Tata Group shares, up 5.3 per cent. Tata Teleservices, Tata Elxsi, Tata Communications, Tata Motors and Tata Chemicals were also among the gainers.

9:34 a.m.: Sensex fell over 100 points and Nifty moved below its crucial psychological level of 8,600 on the back of selling pressure in select IT and banking shares.

As of 9:19 a.m., the Sensex traded 78 points lower at 27,837 and Nifty was down 20 points at 8,595.

From the Nifty basket of shares, 30 were declining while 21 were advancing.

ICICI Bank was the top Nifty loser, down 1.85 per cent at Rs. 279. Asian Paints, Bharti Infratel, GAIL India, Power Grid, HDFC, Bharti Airtel, TCS, Ambuja Cements, ACC, Infosys, HDFC Bank, Wipro, Larsen & Toubro and ITC were also among the laggards in Nifty.

On the other hand, Tech Mahindra was among the top Nifty gainers, up 6.2 per cent at Rs. 440 after the company post market hours reported stronger-than-expected September quarter earnings. Tech Mahindra’s net profit declined 17.5 per cent to Rs. 643.4 crore. Meanwhile, its dollar revenue grew 4 per cent during the quarter against expectation of 1.3 per cent.

Tata Motors, Tata Steel, Bajaj Auto, Hero MotoCorp, BHEL, Zee Entertainment and Maruti Suzuki were also among the gainers.

The broader markets were outperforming the benchmark indices. The BSE mid-cap and small-cap indices were up 0.3 per cent each.

8:43 a.m.: Sensex and Nifty are set to open on a weak note in trades today tracking losses in Nifty futures traded on the Singapore Exchange.

Nifty futures traded on Singapore Exchange also known as the SGX Nifty was down 0.51 per cent or 44 points at 8,605.

Meanwhile, other Asian share markets were also trading on a subdued note. Hong Kong’s Hang Seng was down 0.14 per cent, South Korea’s KOSPI declined 0.11 per cent and China’s Shanghai Composite was up 0.1 per cent.

Overnight, US stocks dipped in a choppy session after the latest round of earnings reports, as a decline in the consumer discretionary sector and interest-rate sensitive stocks outweighed gains in healthcare names.

The Dow Jones industrial average fell 29.65 points, or 0.16 per cent, to 18,169.68, the S&P 500 lost 6.39 points, or 0.3 per cent, to 2,133.04 and the Nasdaq Composite dropped 34.29 points, or 0.65 per cent, to 5,215.97.

Back home, foreign institutional investors sold shares worth Rs. 470 crore while domestic institutional investors bought shares worth Rs. 856 crore on Thursday.

Stocks In Focus

Bajaj Auto: The company will report its September quarter numbers later in the day. Analysts polled by NDTV Profit expect the company to post net profit of Rs. 1,025 crore on sales of Rs. 6,109 crore. Its operating profit or EBITDA is expected to come in at Rs. 1,252 crore compared with 1,317 crore during the same quarter last year.

Eicher Motors: Analysts expect Eicher Motors to report net profit of Rs. 393 crore on sales of Rs. 1,777 crore.

Vedanta Ltd: The mining conglomerate promoted by Anil Agarwal will also report its September quarter numbers later in the day. Analysts expect Vedanta to report net profit of Rs. 1,106 crore on sales of Rs. 15,741 crore. EBITDA or operating profit is expected to come in at Rs. 4,139 crore compared with Rs. 3,493 crore during the previous quarter.

Bharat Financial Inclusion: Formerly known as SKS Microfinancce is expected to report net profit of Rs. 144 crore on net interest income of Rs. 214 crore.

Tech Mahindra: The IT company on Thursday reported strong set of September quarter earnings. Its net profit came in at Rs. 644.7 crore on sales of Rs. 7,167 crore. During the quarter, Tech Mahindra reported strong revenue growth as its dollar revenues grew at 4 per cent against expectation of 1.3 per cent.

United Spirits: The liquor maker reported September quarter earnings post market hours on Thursday. The company reported net profit of Rs. 82.5 crore on sales of Rs. 2,037 crore. Overall margins for United Spirits were flat during the quarter.