Indian equity benchmarks continued to trade in the negative territory during the afternoon session on Thursday with speculators liquidating positions as today being the last day of November month derivatives expiry.
Also, concerns rose over looming US monetary tightening may impact foreign capital flows to Asia’s third biggest economy, and weakness in Rupee against US dollar, too influenced domestic sentiment.
At 1:08 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 25,916.68, down by 135.13 points or 0.52 per cent while the NSE Nifty was at 7,985.75, down by 47.55 points or 0.59 per cent.
Meanwhile, selling pressure was witnessed mainly in the oil & gas and auto sector stocks.
Major show spoilers were Tata Motors Ltd. (Rs. 452.90,-3.92%), NTPC Ltd. (Rs. 156.10,-2.41%), ICICI Bank Ltd. (Rs. 259.75,-1.98%), Reliance Industries Ltd. (Rs. 989.10,-1.80%), Sun Pharmaceutical Industries Ltd. (Rs. 689.55,-1.64%), among others.
The top gainers of the BSE Sensex pack were Infosys Ltd. (Rs. 938.05,+1.91%), Tata Consultancy Services Ltd. (Rs. 2186.05,+1.36%), Wipro Ltd. (Rs. 453.45,+1.18%), Bajaj Auto Ltd. (Rs. 2625.95,+1.16%), Power Grid Corporation of India Ltd. (Rs. 183.90,+1.13%), among others.
The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2,550 shares traded, 1,255 advanced while 1,117 shares declined and 178 remained unchanged.
On the global front, Asian markets were mixed after Fed minutes showed that officials saw a stronger case for monetary tightening relatively soon amid an improvement in the labour market, with some FOMC members calling for an interest rate hike as soon as December.
Tag: Power Grid Corporation of India Ltd
The key domestic benchmark indices were trading in a negative terrain in the morning trading session as volatility continued at the domestic bourses as traders roll over their positions ahead of tomorrow’s November futures & options (F&O).
Earlier, a positive trend across markets in Asia and a record finish at Wall Street overnight amid optimism that the US economy is strong enough to withstand a rise in interest rates by the Fed before the end of the year, had bolstered risk taking appetite.
Shares of PC Jeweller and Siemens will be in focus as these companies unveil their September quarter earnings.
The traders will also weigh the impact of the demonetization move which may chop off as much as 1 per cent from India’s full year 2016-17 GDP growth.
At 10:15 AM, the Bombay Stock Exchange bellwether Sensex was at 25948.72 down by 12.06 points or by 0.05 per cent, while the NSE Nifty was at 7991.8 points, trading lower by 10.5 points or by 0.13 per cent.
The BSE Sensex touched an intraday high of 26130.49 and an intraday low of 25892.21 while the the NSE Nifty touched an intraday high of 8055.2 and an intraday low of 7978.45
The top gainers of the BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1382.10,+3.98 per cent), Asian Paints Ltd. (Rs. 931.50,+2.66 per cent), Tata Steel Ltd. (Rs. 384.80,+1.80 per cent), Cipla Ltd. (Rs. 554.50,+0.86 per cent), Lupin Ltd. (Rs. 1424.00,+0.75 per cent), among others.
Meanwhile, Housing Development Finance Corporation Ltd. (Rs. 1217.20,-2.42 per cent), Power Grid Corporation of India Ltd. (Rs. 181.90,-1.20 per cent), Maruti Suzuki India Ltd. (Rs. 4884.00,-0.94 per cent), NTPC Ltd. (Rs. 152.75,-0.94 per cent), Wipro Ltd. (Rs. 445.90,-0.89 per cent), were among the top losers on BSE.
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1990 shares traded, 1206 shares advanced, 695 shares declined while 89 were unchanged.
On the global front, Asian stocks were trading higher today as Donald Trump’s win in the US Presidential elections boosted sentiment by raising speculation that he would bolster fiscal spending which may lead to tighter monetary policy.US stocks closed higher in the previous trading after sales of existing homes climbed to the highest level since February 2007, up 2 per cent to a 5.60 million annual rate in October, signalling momentum in the US housing market recovery.
“The standalone PAT of the company stood at Rs 1,355.64 crore during the same period a year ago,” said Power Grid Corporation of India Ltd in a filing to the Bombay Stock Exchange on August 16, 2016.
Further, the standalone total income of the company also grew by 30.6 per cent at Rs 6,259.3 crore during Q1 FY17, as compared to Rs 4,792.38 crore during the same period last year.
Its total expenses rose 18.51 per cent to Rs 2,457.49 crore in the quarter ended June 30, 2016, as against Rs 1,933.24 crore during the previous quarter ended June 30, 2015.
Meanwhile, shares of the company closed at Rs 177.55 apiece, down 0.20 per cent, from previous close on BSE.