Snapping four day gaining streak, the key domestic benchmarks ended lower on Tuesday, weighed down by losses in rate sensitive auto and realty stocks, as investors resorted to profit booking ahead of the RBI policy review due tomorrow. The industry is expecting at least 25 basis points reduction in the policy interest rates as the demonetization has resulted in a windfall gains for the banks in the form of ultra-low cost funds.
The 30-share barometer index of Bombay Stock Exchange, Sensex closed at 8335.16, down by 104.12 points or by 0.37 per cent, and the NSE Nifty ended at 8768.3, down by 32.75 points or by 0.37 per cent.
During the day’s trade, the BSE Sensex touched intraday high of 28483.41 and intraday low of 28239.12, while the NSE Nifty touched intraday high of 8809.3 and intraday low of 8741.05.
Tata Motors fell over 3 per cent even after the auto major’s UK subsidiary, Jaguar Land Rover, reported strong January sales with total retail sales of 47,693 units, up 4 per cent on the prior year.
The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 506.80,-3.52%), Coal India Ltd. (Rs. 315.60,-2.88%), Oil And Natural Gas Corporation Ltd. (Rs. 193.30,-2.86%), Adani Ports & Special Economic Zone Ltd. (Rs. 303.85,-1.86%), Lupin Ltd. (Rs. 1468.40,-1.73%), among others.
On the flip side, Infosys Ltd. (Rs. 944.75,+1.10%), Larsen & Toubro Ltd. (Rs. 1500.05,+1.02%), Maruti Suzuki India Ltd. (Rs. 6205.90,+0.89%), Asian Paints Ltd. (Rs. 996.80,+0.50%), Housing Development Finance Corporation Ltd. (Rs. 1405.75,+0.44%), were among top gainers on BSE.
On the sectoral front, metal and auto index emerging as top losers, falling as much as 1.25 per cent and 0.93 per cent respectively.
The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3182, shares advanced were 1423 while 1624 shares declined and 135 were unchanged.
Tag: BSE Sensex
Complimenting NBCC for sustained increase in turn over and profits over the last few years, Naidu asked the company management to further expand and diversify its business profile by forging partnerships with State Governments and other agencies.
The minister also directed the management to immediately initiate action on seven redevelopment projects in Delhi entailing an investment of about Rs 35,000 cr, recently approved by the Union Cabinet. Naidu discussed in detail the progress of ongoing projects and future initiatives of NBCC.
A.K.Mittal, Chairman and Managing Director of NBCC informed the minister that the company has acquired new project orders for Rs 17,516 cr during 2015-16 and with total work orders of over Rs 70,000 cr, NBCC is the second largest construction company in the country. The company has declared a total dividend of Rs 120 cr for 2015-16 of which the Government’s share was Rs 108 cr.
NBCC has recorded the highest revenue of Rs 5,838 cr during 2015-16, marking an increase of 32 per cent over the previous fiscal.
The key domestic benchmark indices continued to hover in red during the late noon trading session tracking weak cues from the European counters.
At 14:20 hours, the 30-share benchmark index was trading at 28258.32 down by 76.23 points or by 0.27 per cent, while the NSE Nifty was at 8759.4 down by 9.75 points or by 0.11 per cent.
Investor sentiment was dampened as Nikkei India Services Business Activity Index eased to 52 in September from 54.7 in August, pointing to a slower and moderate rate of expansion. Sentiments also remained subdued with a World Bank research predicting that the proportion of jobs threatened in India by automation is 69 per cent and in China it is 77 per cent.
In the choppy trade so-far, Sensex touched an intraday high of 28477.65 and an intraday low of 28209.19, while the NSE Nifty touched an intraday high of 8806.95 and an intraday low of 8731.4.
The top gainers of the BSE Sensex pack were Asian Paints Ltd. (Rs. 1207.00,+1.23%), State Bank of India (Rs. 262.40,+1.22%), Hindustan Unilever Ltd. (Rs. 869.75,+1.14%), Tata Motors Ltd. (Rs. 555.60,+1.14%), Maruti Suzuki India Ltd. (Rs. 5729.35,+0.87%), among others.
The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 267.20,-2.39%), Axis Bank Ltd. (Rs. 537.40,-1.72%), Mahindra & Mahindra Ltd. (Rs. 1398.00,-1.23%), Bajaj Auto Ltd. (Rs. 2859.95,-1.19%), Hero MotoCorp Ltd. (Rs. 3495.00,-1.03%), among others.
Among the sectors, IT index was at 10254.48 down by -57.59 points or by -0.56%. Mastek Ltd. (Rs. 131.70,-4.11%), Intrasoft Technologies Ltd. (Rs. 415.00,-1.91%), Moser Baer India Ltd. (Rs. 7.78,-1.89%), Majesco Ltd. (Rs. 475.20,-1.83%), 3i Infotech Ltd. (Rs. 5.88,-1.67%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2981 , shares advanced were 1727 while 1122 shares declined and 132 were unchanged.
On the global front, Asian peers ended the day on a positive note, while European counters were hovering in red on reports that the European Central Bank’s governing council had reached an informal consensus on winding down its quantitative easing programme.
“The third 660 MW unit of Talwandi Sabo power plant in Punjab has put commercial production on August 24, 2016, and will be capitalised in September 2016,” Vedanta Ltd said in a filing to the Bombay Stock Exchange on August 29, 2016.
Talwandi Sabo Power Ltd (TSPL), a wholly-owned subsidiary of Vedanta, had set up a coal-based supercritical thermal power plant in Mansa district of Punjab.
TSPL had signed a power purchase agreement (PPA) with the Punjab State Power Corporation Ltd (PSPCL) for the establishment of 1,980 MW (three units of 660 mw each) thermal coal-based commercial power facilities.
The 100 per cent power generated from this project shall be supplied to PSPCL for 25 years.
The company also said the auctions of coal linkages for captive power plants were conducted by Coal India in August and has secured 6.09 million tonnes per annum for its captive power plants, that supplies power to its Aluminium smelters at Jharsuguda and Balco.
Meanwhile, shares of the company closed at Rs 173.20 apiece, up 2.30 per cent, from previous close on BSE.
Shares of the company gained 1.61 per cent to Rs 360.25 a piece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 25,855.81, down 24.57 points, or 0.09 per cent, at 11:20 hours.
At 9:49AM BSE SENSEX was at 24025.29, down by 454.55 points or by 1.86 per cent while the NSE Nifty was at 7308.2, down by 126.9 points or by 1.71 per cent.
The BSE MIDCAP was at 10010.27, down by 228.17 points or by 2.23 per cent while the BSE SMLCAP was at 10283.5, down by 242.42 points or by 2.3 per cent.
The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 797.00,+0.36 per cent), among others.
The top losers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 228.80,-3.85 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 209.90,-3.72 per cent), State Bank of India (Rs. 176.30,-3.71 per cent), Reliance Industries Ltd. (Rs. 1006.50,-3.56 per cent), Axis Bank Ltd. (Rs. 379.30,-3.51 per cent), among others.
The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of total 1798 shares traded, 203 shares advanced, 1545 shares declined while 50 were unchanged.
Among the sectoral indices on BSE, BSE Realty index was at 1161.84, down by 36.26 points or by 3.03 per cent led by Prestige Estates Projects Ltd. (Rs. 176.80,-4.48 per cent), Indiabulls Real Estate Ltd. (Rs. 49.55,-3.88 per cent), DLF Ltd. (Rs. 92.40,-3.80 per cent), Housing Development & Infrastructure Ltd. (Rs. 65.50,-3.68 per cent), Unitech Ltd. (Rs. 5.52,-3.66 per cent).
Asian stocks retreated after gaining in the previous session as further slide in global crude oil prices weighed on investor sentiment. US crude futures fell below $28 per barrel while Brent crude was trading below $29 a barrel. Chinese stocks which had surged over 3 per cent in the previous session were trading with marginal losses. Among other markets in the region, Nikkei was down 2.2 per cent, Hang Seng eased 3 per cent while Straits Times was down nearly 2 per cent.