Market Live: Sensex, Nifty trade flat, metal, FMCG stocks fall

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Mumbai: Stock markets traded flat on Thursday after closing over 1% higher in the previous session. The US central bank left interest rates unchanged at the end of its two-day policy meet, but remains on path for a possible December hike as it cited “solid rate” of growth. This lifted Asian markets, which in turn made the Sensex firm up 46 points to 33,646. Healthcare, consumer durables, IT, oil and gas, realty, technology and banking indices made gains. Here are the latest updates from the markets:

■ 3pm: Ruchi Soya Industries Ltd shares surged 7.60% after the company said its board of directors approved an agreement with Devonshire Capital for the acquisition of 51% of the company by Devonshire Capital. Under the agreement, Devonshire Capital will also acquire certain branded packaged oils distribution business for Rs4000 crore.

■ 2.27pm: BSE Sensex was trading little changed at 33,616.89, up 16.62 points, or 0.05%, while the NSE Nifty edged down 3.85 points, or 0.04%, to 10,436.65.

■ 2.24pm: Among the sectoral indices, healthcare index gained most at 2.59% followed by consumer durables, which was up 0.52%. Meanwhile FMCG index fell 0.81% and metal was down 0.78%.

■ 2.20pm: The European STOXX 600 rose 0.02%, Germany’s DAX was down 0.06%, UK’s FTSE fell 0.06% and France’s CAC 40 rose 0.11%.

■ 1.40pm: BSE Sensex inched up 5.13 points, or 0.02%, to 33,605.40, while the Nifty 50 was down 5.20 points, or 0.05%, to 10,435.30.

■ 1.30pm: Mahindra Logistics Ltd’s initial public offering (IPO) was subscribed 1.96 times so far on the last day of the share sale on Thursday. As of 1pm, the IPO received bids for 37,927,442 shares against the total issue size of 19,332,346 shares, according to NSE data.

■ 1.25pm: The initial public offering (IPO) of state-owned general insurance firm The New India Assurance Co. Ltd was subscribed 1.05 times so far on the second day of the share sale on Thursday. As of 1pm, the IPO received bids for 125,982,972 shares against the total issue size of 120 million shares, according to NSE data. The IPO will close on 3 November.

■ 1.18pm: Khadim India Ltd’s initial public offering was subscribed 7% so far on the first day of share sale on Thursday, data from stock exchanges showed. As of 1.15pn, the IPO received bids for 342,780 shares against the total issue size of 5,073,006 shares, according to NSE data. The IPO will close on 6 November.

■ 12.25pm: BSE Sensex fell 34.11 points, or 0.10%, to 33,566.16, while the Nifty 50 was down 17.80 points, or 0.17%, to 10,422.70.

Top gainers were Dr Reddy’s, Lupin, Sun Pharma and Coal India, whereas ITC, Hindustan Unilever, M&M and Tata Motors were top losers.

■ 11.46am: BSE Sensex edged down 1.90 points, or 0.01%, to 33,598.37, while the Nifty 50 was down 7.75 points, or 0.07%, to 10,432.75.

■ 11.40am: Rama Steel Tubes Ltd stock rose 2.13% to Rs187.15. The company said its joint venture Pir Panchal Construction Pvt. Ltd received orders for supply and erection of transmission lines for rural electrification from Uttarakhand Power Corp. Ltd and Himachal Pradesh State Electricity Board, amounting to Rs288 crore.

■ 11.20am: State Bank of India said it has reduced interest rates for retail loans in order to boost lending. The bank has cut the interest rate on home loans by 5 basis points (bps) to 8.30% per annum—the lowest rate for home loans in the market. The new rate is effective 1 November. Shares rose 0.83% to Rs322.45.

■ 11.14am: Rajesh Exports Ltd shares rose 0.84% to Rs778.45 after the company said it has received an order worth Rs634 crore.

■ 10.40am: BSE Sensex rose 24.52 points, or 0.07%, to 33,624.79, while the Nifty 50 edged up 3.75 points, or 0.04%, to 10,444.25.

■ 10.35am: Hexaware Technologies Ltd rose 4% to Rs289 after the company reported 16.4% increase in its net profit to Rs 142 crore while revenue up 0.9% to Rs 993 crore.

■ 10.32am: NTPC Ltd fell 1.3% to Rs177.80 after 18 people were killed and up to 100 injured in an boiler blast in state-run NTPC Ltd’s Unchahar power plant in Raebareli, Uttar Pradesh. The blast occurred in the boiler area of a 500-megawatt (MW) unit of the recently commissioned plant in Raebareli district. The 1,550 MW coal-fuelled plant supplies electricity to Uttar Pradesh, Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Rajasthan, Chandigarh, Delhi and Uttaranchal. The Unchahar plant is currently generating around 640 MW.

■ 10.30am: Solar Industries India Ltd rose 4.5% to Rs1,080 after the company said it got order for supply of bulk explosives to the arm of Coal India Ltd worth Rs1,143.63 crore.

■ 10.03am: BSE Sensex rose 39.50 points, or 0.12%, to 33,639.77, while the Nifty 50 gained 10.75 points, or 0.10%, to 10,451.25.

■ 9.47am: Hero MotoCorp Ltd fell 1.1% to Rs3,774.55. The company posted a marginal increase in its net profit at Rs1,010.49 crore for the second quarter ended 30 September, although it clocked a record two million units sales during the period.The company had reported a net profit of Rs1,004.22 crore during the same period of the previous fiscal. Total income of the company stood at Rs8,479.59 crore for the second quarter, as compared to Rs8,601.10 crore for the same period of the previous fiscal.

■ 9.45am: Dredging Corp Of India Ltd extends its gains for second sessions and surges over 15% to Rs 773.55. The cabinet approved sale of entire 73 percent stake in the company on Wednesday.

■ 9.43am: Pharma stocks trading higher. Sun Pharmaceuticals Industries Ltd rose 2.2%, Lupin Ltd rose 2%, Cipla Ltd 1.4%, Dr Reddy’s Laboratories Ltd 1%, Marksans Pharma 4.2%, Biocon 2.2%, Aurobindo Pharma 2%, Glenmark Pharma 1.7%.

■ 9.25am: BSE Sensex opened higher by 12.50 points, or 0.04%, to 33,612.77, while the Nifty 50 edged down 1.25 points, or 0.01%, to 10,439.25.

■ 9.23am: Divi’s Laboratories Ltd jumped 20% to Rs1,100 after US drug regulator said it will lift an import alert on its Visakhapatnam unit. Divi’s Laboratories has been informed by the USFDA that it will be lifting import alert 66-40 and moving to close out the warning letter issued to the company’s Unit-II at Visakhapatnam.

■ 9.20am: Tech Mahindra Ltd fell 2% to Rs479.40. The company on Wednesday said its consolidated net profit has increased 29.7% to Rs836.15 crore for the quarter ended 30 September. This is against a net profit of Rs644.73 crore in the July-September 2016 quarter, Tech Mahindra said in a statement.

■ 9.17am: JSW Energy Ltd fell 3.3% to Rs82.50. The company said consolidated net profit rose 37% to Rs297 crore in the September quarter from Rs217 crore a year ago.Total income from operations rose 6% to Rs2,220 crore against Rs2,099 crore in the corresponding quarter of the previous year, largely on account of better merchant realisations, higher other income and savings in operation and maintenance costs

■ 9.15am: The rupee opened at 64.53 a dollar and touched a high of 64.50. At 9.15am, the home currency was trading at 64.51 against the dollar, up 0.10% from its Wednesday’s close of 64.60.

■ 9.13am: The 10-year bond yield was at 6.879% compared to its previous close of 6.893%. Bond yields and prices move in opposite directions.

■ 9.10am: Asian currencies were trading higher. Japanese yen was up 0.24%, Philippines peso 0.23%, China offshore 0.19%, Singapore dollar 0.18%, South Korean won 0.17%, Indonesian rupiah 0.16%, Malaysian ringgit 0.12%, Thai baht 0.11% and China renminbi 0.08%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.525, down 0.31% from its previous close of 94.815.