Shares of Infosys extended losing momentum on Tuesday and fell over 1 per cent, hitting fresh 52-week low, on the Bombay stock Exchange as some of rating agencies downgraded stock following chief executive officer Vishal Sikka’s shocking exit.
Extending previous session losses, shares of the company declined as much as 1.37 per cent to hit 52-week low of Rs 861.50 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 871.55 against previous close price of Rs 873.50.
Paring early losses, shares of the company were trading 0.22 per cent higher at Rs 875.30 apiece on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 31,359.04, up 100.19 points, or 0.32 per cent, at 12:05 hours.
Following the announcement, shares of the company gained as much 2.56 per cent to hit intra-day high of Rs 338.00 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 332.00 against previous close price of Rs 329.55.
In a similar fashion, shares of the company were trading 0.99 per cent higher at Rs 332.85 apiece on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 31,359.21, down 165.47 points, or 0.52 per cent, at 14:10 hours.
Analysts said widening of positions by participants due to pick up in demand from consuming industries in the spot market mainly influenced aluminium prices at futures trade.
At the MCX, aluminium futures for July 2017 contract is trading at Rs 121.50 per kg, up by 0.29 per cent, after opening at Rs 121.35, against a previous close of Rs 121.15. It touched the intra-day high of Rs 122.05 (at 14:15 hours).
Zinc futures were trading higher during the afternoon trade in the domestic market on Wednesday as speculators created fresh positions on pick-up in demand from consuming industries at the spot markets. Market analysts attributed the rise in zinc futures to fresh bets created by participants on the back of rising demand at the domestic spot market.
At the MCX, zinc futures for July 2017 contract is trading at Rs 179.50 per kg, up by 0.17 per cent, after opening at Rs 178.65, against a previous close of Rs 179.20. It touched the intra-day high of Rs 179.65 (at 14:07 hours).
This will enable all Paytm customers discover a wide selection of events and book instantly, a company statement said.
The country’s organised events industry is currently at Rs 4,000 crore, with organised sporting leagues and events accounting for the largest portion of ticket sales, according to industry estimates.
Online ticketing accounts for only 10 per cent of the overall volume, due to limited event discovery.
After establishing its online movie ticketing service spanning 3,500 screens across 550 cities, Paytm has been expanding into the events ticketing and discovery, helping customers discover events on its platform, it said in a statement.
“Events discovery and ticket booking is a challenge for customers and organisers alike….We believe that digital discovery and events marketing expertise will increase supply of quality events in India. This is a natural extension for us as we continue to build India’s go-to destination for online movies and events,” Madhur Deora, Chief Financial Officer and SVP, Paytm said in a statement.
Insider curates events and experiences so users can seamlessly discover the best way to spend their leisure time. The platform also provides tools, data and analytics to organisers that enables them to conceptualise, market and execute their events more efficiently.
This partnership with Paytm would enable Insider.In to reach more organisers and exponentially grow this ecosystem in India, it said.
Indian equity benchmarks were trading in a narrow range with positive bias during the afternoon session on Wednesday led by buying activity mainly in the metal and healthcare sector stocks.
At 1:03 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 31,214.86 up by 5.07 points or 0.02 per cent while the NSE Nifty was at 9,624.05 up by 10.75 points or 0.11 per cent.
Besides, investors keenly eyed the June quarter corporate earnings that will begin next week.
The top gainers of the BSE Sensex pack were Lupin Ltd. (Rs. 1076.55,+3.10%), Mahindra & Mahindra Ltd. (Rs. 1385.65,+2.28%), Reliance Industries Ltd. (Rs. 1441.45,+1.32%), Asian Paints Ltd. (Rs. 1120.60,+1.07%), Dr. Reddy’s Laboratories Ltd. (Rs. 2657.00,+1.01%), among others.
Major show spoilers were ITC Ltd. (Rs. 332.20,-1.45%), Infosys Ltd. (Rs. 949.55,-1.14%), Bharti Airtel Ltd. (Rs. 375.70,-0.95%), Housing Development Finance Corporation Ltd. (Rs. 1628.05,-0.75%), Wipro Ltd. (Rs. 258.00,-0.73%), among others.
The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2725 shares traded, 1628 advanced while 954 shares declined and 143 remained unchanged.
On the global front, Asian markets were green, however, caution prevailed as Independence Day celebrations in the US kept trading activity muted and geopolitical tensions continue to heat up.
The Indian equities ended flat in a volatile trading session on Thursday, tracking mixed cues from Asian market, weighed down by sharp selling in oil and gas and realty stocks. The BSE Sensex opened higher today and surged 211 points to hit an all-time high of 31,522.87, but pared all the gains to close flat at 31,290, as investors pressed sell button in the final hour of the trade amid weak European cues.
The 30-share barometer SENSEX closed at 31290.74, up by 7.1 points or by 0.02 per cent, while the NSE Nifty ended at 9630, down by 3.6 points or by 0.04 per cent.
Early today, the benchmark indices witnessed surge in buying activity after capital market regulator Sebi eased takeover norms for restructuring listed companies with stressed assets, a move which will further boost fight against bad loan.
During the day’s trade, Sensex touched an intraday high of 31522.87 and intraday low of 31255.63, while the NSE Nifty touched intraday high of 9698.85 and intraday low of 9617.75.
The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 538.70,+2.03%), State Bank of India (Rs. 294.55,+1.50%), Housing Development Finance Corporation Ltd. (Rs. 1650.35,+1.41%), Reliance Industries Ltd. (Rs. 1433.15,+1.06%), Bajaj Auto Ltd. (Rs. 2850.00,+1.02%), among others.
On the flip side, Oil And Natural Gas Corporation Ltd. (Rs. 160.50,-2.82%), Hindustan Unilever Ltd. (Rs. 1094.25,-2.62%), Lupin Ltd. (Rs. 1066.95,-2.49%), Power Grid Corporation of India Ltd. (Rs. 201.60,-2.11%), Dr. Reddy’s Laboratories Ltd. (Rs. 2629.45,-2.05%), were among the top losers on the BSE.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3009, shares advanced were 1215 while 1620 shares declined and 174 were unchanged.
Further, the central bank is widely expected to raise interest rates at its two-day meeting. Meanwhile, the focus will be on any fresh hints on the pace of further tightening in the months to come and next year, and any further details on its plans for trimming its balance sheet.
At the MCX, zinc futures for June 2017 contract is trading at Rs 157.75 per kg, down by 1 per cent, after opening at Rs 159.40, against a previous close of Rs 159.35. It touched the intra-day low of Rs 157.35 (at 16:17 hours).
Hit by foreign capital outflows, the Indian equities ended flat with marginal gains on Tuesday as caution prevailed in the market ahead of the US Federal Reserve’s two-day policy meeting decision. Some concerns also came with the private report that farm loan waivers are populist actions and frequent occurrence of such populist actions may lead to risks of impaired credit discipline and weak risk-reward for banks and reduced credit availability for borrowers. IT and Teck stocks witnessed hefty selling, falling nearly 1 per cent each, taking cues from Wall Street which was dragged lower by technology stocks.
The 30-share barometer SENSEX closed at 31103.49, up by 7.79 points or by 0.03 per cent, while the NSE Nifty ended at 9606.9, down by 9.5 points or by 0.1 per cent.
During the day’s trade, Sensex touched an intraday high of 31260.77 and intraday low of 31062.34, while the NSE Nifty touched intraday high of 9654.15 and intraday low of 9595.4.
The top gainers of the BSE Sensex pack were Power Grid Corporation of India Ltd. (Rs. 210.00,+1.94%), Lupin Ltd. (Rs. 1177.40,+1.73%), Housing Development Finance Corporation Ltd. (Rs. 1668.45,+1.52%), NTPC Ltd. (Rs. 160.00,+1.27%), Adani Ports & Special Economic Zone Ltd. (Rs. 359.50,+0.67%), among others.
On the flip side, Tata Motors Ltd. (Rs. 449.60,-1.51%), Tata Consultancy Services Ltd. (Rs. 2453.40,-1.47%), Wipro Ltd. (Rs. 259.35,-1.44%), Hero MotoCorp Ltd. (Rs. 3750.00,-0.65%), Mahindra & Mahindra Ltd. (Rs. 1415.00,-0.65%), were among the top losers on the BSE.
Among the sectors, power and realty stocks emerged as top gainers, rising as much as 0.78 per cent and 0.75 per cent, respectively.
The Market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 3024, shares advanced were 1416 while 1395 shares declined and 213 were unchanged.
Besides, tracking weakness in the steel markets, too influenced zinc prices at futures trade.
US services sector activity slowed last month as new orders tumbled, while China’s economy likely to remain on a stable footing last month, supported by solid gains in trade and investment as economic ties with the US take a positive turn and infrastructure spending cushions domestic growth.
At the MCX, zinc futures for June 2017 contract is trading at Rs 160 per kg, down by 0.16 per cent, after opening at Rs 160.85, against a previous close of Rs 160.25. It touched the intra-day low of Rs 158.90 (at 16:27 hours).