BackLive: Sensex falls 112 points; Rupee closes 41 paise weaker at 63.98
Here are the key developments affecting the domestic and international markets today
Premium5:00pm: The Indian rupee closes 41 paise weaker against dollar at 63.98 compared with its previous close of 63.57, as dealers accumulated the US currency noting the weak sentiment in local stock market and amid nervousness ahead of RBI policy.
3:40pm: The S&P BSE Sensex closes 0.41%, or 112.47 points, lower at 27,531.41, while the Nifty ends 0.37%, or 30.90 points, lower at 8,339.35.
3:27pm: Shares of Bharat Heavy Electricals Ltd (Bhel) rose 5.2% to ₹ 246.45 after the company reported better-than-expected results. The company posted a net profit of ₹ 888.35 crore in the March quarter, down 51.84% from a year ago of ₹ 1,844.59 crore. Net sales fell 15.8% from a year ago to ₹ 12,995.07 crore. According to Bloomberg, analyst estimated that the company may post a net profit of ₹ 802 crore.
3:05pm: The S&P BSE Sensex is trading 0.48%, or 133.78 points, lower at 27,510.10, while the CNX Nifty is trading down 0.41%, or 34.55 points, at 8,335.70. Shares of Dish TV India Ltd rise 13.44% to ₹ 96.20.
2:47 pm: Shares of IFCI Ltd fell 5.2% to Rs25.75 after the company reported a 29.8% decline in its net profit to Rs119.57 crore in March quarter as compared to Rs170.29 crore a year ago. Total income rose 7% from a year ago to Rs888.3 crore
2:22pm: The BSE Sensex is now trading at 27,511.56, down 132.32 points, or 0.48%.
2:10pm: Suven Life Sciences Ltd dives 7.4% to ₹ 278.50 after the company reported 47.7% decline in net profit to ₹ 16.95 crore in the March quarter compared with ₹ 32.41 crore a year ago. Net sales for the quarter fell 15.4% from a year ago to ₹ 110.66 crore.
1:48pm: Shares of Nestle India Ltd fall as much as 5.7% to ₹ 6,551 apiece after a news report said the Uttar Pradesh (UP) FDA may file case against the company in one week’s time over high lead content in Maggi noodles. Shares have now pared losses to trade around 2% lower.
1:45pm: Shares of Dish TV India Ltd jump 3.4% to ₹ 88 after the company reported a net profit of ₹ 35.01 crore in the March quarter compared with net loss of ₹ 149.05 crore a year ago. Net sales for the quarter rose 18.5% from a year ago to ₹ 752.49 crore.
1:40pm: The S&P BSE Sensex is now down 102.99 points, or 0.37%, to 27,540.89.
1:30pm: Hero MotoCorp Ltd shares rise 1.5% to ₹ 2,625.45 apiece on back of higher volumes. The stock touched an intra-day high of ₹ 2,636.15 apiece—a level last seen on 8 April. On 7 May, the company reported weaker-than-expected earnings after market hours, leading to a 4.4% decline in the stock price in intra-day trade on 8 May. Since then, the shares are up nearly 14%.
1:10pm: The S&P BSE Sensex is trading at 27,585.04, down 58.84 points, or 0.21%.
1:00pm: Ricoh India Ltd surges 8% to ₹ 911 after the company reported a 191.5% jump in March quarter net profit to ₹ 41.48 crore compared with ₹ 14.23 crore a year ago. Net sales for the quarter rose 77.6% to ₹ 627.88 crore from ₹ 353.61 crore a year ago.
12:15pm: The BSE Sensex is down 60.78 points, or 0.22%, to 27,583.10, while the Nifty is trading 16.95 points, or 0.2%, lower at 8,353.30.
12:00pm: After gaining 1.5% in the opening session, shares of United Spirits Ltd erased all their gains and fell 3.5% to ₹ 3,599 apiece ahead of March quarter earnings. According to estimates of 12 Bloomberg analysts, the company will post a net profit of ₹ 55.22 crore, while net sales will be ₹ 2,095.50 crore.
11:30am: The S&P BSE Sensex is down 46.01 points, or 0.17%, to 27,597.87.
11:20am: Adani Enterprises Ltd shares hit all-time highs today after the company fixed 4 June as a record date for the purpose of scheme of arrangement and demerger. In intra-day trade, the stock touched an all-time high of ₹ 803.90 apiece, up 2.2% from its previous close. Since 1 April till date, Adani Enterprises has risen 29.7%, while year-to-date it has gained 64.66%.
11:09am: India’s VIX Index is trading up 3.8% to 17.58 on NSE, its highest jump since 12 May.
10:55am: Punj Lloyd Ltd rises 3.1% to ₹ 26.95 after the company said in a notice to BSE that it has got road project in Bihar worth ₹ 541.84 crore from the National Highways Authority of India (Nhai).
10:45am: PNC Infratech Ltd is trading nearly 4.8% below the issue price on its first day as a public listed company. The stock opened at ₹ 381 apiece in its debut trade, ₹ 3 higher than its IPO price on the BSE, but later fell to ₹ 360. Read more.
10:35am: The S&P BSE Sensex is now trading at 27,586.19, down 57.69 points, or 0.21%.
10:32am: Tata Motors Ltd fall 1.4% to ₹ 498.20 ahead of its March quarter earnings. According to estimates of 24 Bloomberg analysts, the company will post a consolidated net profit of ₹ 4,092.6 crore, while its consolidated net sales will be ₹ 66,551.4 crore. On stand-alone basis, according to four Bloomberg analysts, the company may post net loss of ₹ 1,108 crore, while net sales will be ₹ 10,123.2 crore. Hindalco Industries Ltd falls 1.2% to ₹ 133.60.
10:30am: Canara Bank Ltd falls 2% to ₹ 333.50. The Deutsche Bank has reduced its rating to “sell" from “hold" and also reduced its price target by 26% to ₹ 290 a share.
10:28am: Usha Martin Ltd declines 5% to ₹ 19.70 after the company said its net loss widened to ₹ 139.79 crore in the March quarter compared with net loss of ₹ 30.57 crore a year ago.
10:26am: Inox Leisure Ltd is trading down 2% to ₹ 151.45 after the company posted a net loss of ₹ 7.76 crore in the March quarter compared with net profit of ₹ 3 crore a year ago.
10:22am: Heidelbergcement India Ltd drops 2.3% to ₹ 68.75 after the company reported an 83% drop in its net profit to ₹ 8.16 crore compared with ₹ 47.85 crore a year ago.
10:19am: Future Retail Ltd rises 2.4% to ₹ 126.20 after the company reported a 536% increase in net profit for the March quarter to ₹ 10.31 crore compared with ₹ 1.62 crore a year ago.
10:15am: Igarshi Motors India Ltd jumps 4.1% to ₹ 512.70 after the company posted a 71.4% increase in net profit in the March quarter to ₹ 17.04 crore compared with ₹ 9.94 crore a year ago.
10:11am: Honeywell Automation India Ltd falls 4.1% to ₹ 7,330 after the company reported a 72.2% decline in net profit to ₹ 7.11 crore in the March quarter compared with ₹ 25.58 crore a year ago.
10:06am: PTC India Financial services Ltd dives 14% to ₹ 49 after the company reported a 66% decline in net profit to Rs15.81 crore in the March quarter compared with ₹ 46.36 crore a year ago.
10:02am: Essar Oil Ltd falls 3% to ₹ 104 after the company reported a 45% decline in net profit due to heavy inventory losses. Net profit stood at ₹ 546 crore against ₹ 1,008 crore a year ago. Net revenue fell 38.2% to ₹ 15,609 crore in the fourth quarter from ₹ 25,274 crore in the quarter ended March 2014.
9:57am: Bharat Heavy Electricals Ltd falls 1.1% to ₹ 231.75 ahead of its March quarter earnings. According to 22 Bloomberg analysts, the company may post a net profit of ₹ 905.4 crore, while net sales will be ₹ 11,871.8 crore.
9:53am: Tech Mahindra Ltd falls 2.4% to ₹ 632.40 ahead of its March quarter earnings. According to estimates of 35 Bloomberg analysts, the company may post a consolidated net profit of ₹ 724 crore, while net sales will be ₹ 6,142.50 crore.
9:50am: Earnings—ABG Shipyard Ltd, Bharat Heavy Electricals Ltd, Ballarpur Industries Ltd, D B Realty Ltd, Dish TV India Ltd, Gujarat Alkalies and Chemicals Ltd, IDBI Bank Ltd, IFCI Ltd, Kaveri Seed Company Ltd, Kolte Patil Developers Ltd, Maharashtra Seamless Ltd, Reliance Power Ltd, Ruchi Soya Industries Ltd, Sunteck Realty Ltd, Tata Motors Ltd, Tech Mahindra Ltd, Thermax Ltd and United Spirits Ltd.
9:45am: All the sectoral indices are trading lower. The BSE oil and gas, power, realty, capital goods, auto and healthcare indices are down 0.4% each followed by BSE Bankex and consumer durables which are down 0.3% each. The Metal, FMCG and IT indices slip 0.2% each.
9:42am: The Sensex is trading lower by 0.28%, or 76.58 points, at 27,567.30, while the 50-share CNX Nifty of the National Stock Exchange (NSE) is down 0.31%, or 25.65 points, to 8,344.60.
9:30am: After falling the most in two weeks on Monday, the equity markets open lower again on Tuesday ahead of the expiry of monthly derivatives on Thursday.
9:25am: The yield on India’s 10-year benchmark bond is trading at 7.861% compared with its Monday’s close of 7.864%.
9:20am: The Indian rupee weakens to 63.63 per dollar compared with its previous close of 63.57, tracking losses in local equity and Asian currencies market. Read more.
9:18am: The dollar hits a fresh one-month high against a basket of major currencies, extending a rally triggered by Friday’s comments from Federal Reserve Chair Janet Yellen, who rekindled market expectations that the central bank was gearing up to hike interest rates.
9:15am: The euro is down about 0.2% at $1.0952, breaking below its overnight nadir and wallowing at its lowest levels since late April.
9:10am: Crude oil is steady, after marking gains in Monday’s thinned trading as firm global demand offset the effects of a stronger dollar. Brent crude is nearly flat at $65.50 per barrel, while US crude adds 0.2% to $59.81.
9:07am: Japan’s Nikkei stock index is trading nearly flat, taking a breather after a run of seven straight gains and closing at a fresh 15-year high on Monday.
9:05am: Hong Kong’s Hang Seng index jumps 1.5 percent, flirting with seven-year highs, on expectations of more money inflows from the mainland following Beijing’s fresh moves to expedite cross-border investment. Mainland bourses also rise, with the CSI300 Index adding 0.9% and the Shanghai Composite Index jumping 1.1%, both to fresh seven-year highs.
9:00am: Asian shares turn higher, reversing earlier losses, on the back of gains in Hong Kong and China. MSCI’s broadest index of Asia-Pacific shares outside Japan rises 0.5%, after eking out a late gain in the previous session. Australian shares are up 0.8%.
8:55am: US markets were also closed on Monday for Memorial Day.
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