Jio Prime membership opens on March 1: New tariff plans revealed

jio_prime_benefits_1487678505608.pngReliance Jio is all set to begin enrolling customers on to its Jio Prime membership plans from March 1, effectively offering 1 GB high-speed 4G data and free calls for Rs 10 a day for an year.
The membership fee for Jio Prime will be Rs 99 per year. The unlimited free voice, free data offered in the ‘Happy New Year’ scheme will be available to Jio Prime members for another 12 months for a price of Rs 303 per month. Jio Prime members will also get the bouquet of Jio media services till March 31, 2018.
Besides this plan, Jio plans to roll out two new monthly tariff plans at Rs 149 and Rs 499 which offer 2GB and 60 GB data along with free voice, respectively, according to note by brokerage firm CLSA.
“As per our discussion with channel partners and retailers, Reliance Jio has revealed more tariff plans under the “Jio Prime Program” that requires one-time membership charge of Rs 99 to be paid before March 31, 2017,” CLSA said in the note.

“For Jio Prime Members, two more monthly plans will be available other than the Rs 303 plan announced last week. The cheapest monthly plan is Rs 149 which offers free domestic voice and 2GB data without any daily limits. Another plan offers 60 GB (2GB daily data allowance) and unlimited voice for Rs 499,” it said.
Jio will also offer long duration plans for Rs 999/1999/4999/9999 with validity for 60/90/180/360 days and data allowance of 60/125/350/750GB without any daily limits, according to CLSA.

Spelling out the fine print of Jio new tariff plans, the CLSA note stated that while subscription to Jio apps is available to all these plans, the company has limited free voice up to the first 1,000 minutes/month, after which only calls within the Jio network will be free.

Also, “Jio Prime membership and its benefits could be cancelled unless a minimum recharge of Rs 149 is made every month,” it said.

Jio Tariff After 31st March
For users who fail to sign up for the Jio Prime subscription before March 31, Jio will announce standard plans that will not only match the tariff plans of its rivals but will also offer 20 percent more data compared to its peers, Reliance Industries Chairman Mukesh Ambani had said on February 21.
Aggressive Push

In his address last week, Ambani had said that Jio crossed 100 million subscribers. Jio will be keen on holding on to these subscribers while adding more users. For this, the telecom company is offering commission rates higher than the industry norm, CLSA said.

“Our discussion with channel partners reveals that Jio has also offered much higher commission rates of over 6 percent on recharge versus industry average of sub-3 percent. While we find the tariffs quite attractive for data users, high commission rates should provide an added push for high membership of Jio Prime and allow Jio to start with a high chargeable subscriber base,” the CLSA note stated.
io had crossed 50 million subscribers in just 83 days of its launch, adding at an average rate of 6 lakh subscribers per day and surpassing the subscriber addition rates of global giants like Facebook, WhatsApp and Skype. Announcing its third quarter results, Reliance Industries had said that Jio has garnered 72.4 million subscribers as of December 31, 2016.

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Nifty Eyes 8150; SBI Tanks 5%, Auto & Oil Stocks Lead

Bussing stocks11:55 am Exclusive: Speaking to CNBC-TV18 from the sidelines of Pune Inc Conclave Power Minister Piyush Goyal said demonetization has huge advantages. It will take India to digital banking and make it a cashless society.

He said the government will use the money from demonetization to pump prime economy.

When asked what one should expect from the Union Budget on February 1, Goyal said ‘Good things’. He said: “The Finance Minister over the last three Budgets – July’14, Feb’15 and Feb’16 has consistently worked on a series of measures. He focused on a sustainable framework for India’s development.”

FM Arun Jaitley never tinkered with rates, minor changes but looked at structural improvements, so that India could move towards and economy, which like China sees 2-3 decades of high-level growth, said Goyal.

11:45 am Sameer Nair Group CEO of Balaji Telefilms says that new shows have a much lower margin and hopes to have 10 shows on air by FY17 end.

TV business gross margin is likely to be up 25 percent by this fiscal year, he believes.

The plan now is to get next releases of movies in the next fiscal year, he says, adding that film business will likely book profit in FY18.

Balaji Telefilms will look to air new shows on Sony, Sun TV and Doordarshan.

11:30 am Exclusive: The demonetization move by the government on November 8 seems to have put the buzzing FMCG sector on a pause mode.

Industry sources told CNBC-TV18 that top FMCG companies like HUL , Nestle India , ITC, as well as Dabur are adopting a ‘wait and watch’ mode with regards to new product launches and may defer new launches of high-end, premium products by one-two quarters.

They would look at geography specific launches to minimise the impact of demonetization, say sources, adding that the worst hit categories are luxury chocolates, premium cookies and ice-creams.

Nestle, ITC may defer launches in premium chocolate, confectionery & cookies space, and HUL, Dabur may defer product launches in premium personal care space, say industry sources.

The market has recovered from early weakness but the Nifty is almost nearing 8150. The 50-share index is up 6.80 points at 8121.10 and the Sensex is up 21.34 points at 26337.68. About 1457 shares have advanced, 652 shares declined, and 112 shares are unchanged.

Bharti Airtel, Cipla, Hero MotoCorp, BHEL and Bajaj Auto are top gainers while ICICI Bank, Wipro, TCS and Axis Bank are losers in the Sensex. SBI is down 5 percent intraday on Monday after RBI increased cash reserve ratio (CRR).

India is proving to be immune from the heavy selling in global emerging market debt, as Prime Minister Narendra Modi’s clampdown on undeclared cash has sparked expectations of a rate cut and pushed issuers to take advantage of low yields.

Indian Railways Finance Corporation, NTPC, Vedanta Resources, Exim India and Axis Bank all rushed to print rupee notes last week to access cheaper funding.

“The debt market is very compelling,” said Killol Pandya, head of fixed income at Peerless Funds Management. “Issuers that were otherwise going to banks are approaching the bond market as banks are yet to cut lending rates.”

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Live Stock Market Updates – Sensex, Nifty erase morning gain

Dalal Street CapitalHeightAt 10:10 AM, the S&P BSE Sensex is trading at 26,292 down mere seven points, while NSE Nifty is trading at 8,145 up 33 points.

The BSE Mid-cap Index is trading down 0.21% at 12,019, whereas BSE Small-cap Index is trading down 0.41% at 11,859.

Axis Bank, Tata Motors, Lupin, SBI, Bharti Airtel and ICICI Bank are among the gainers, whereas Wipro, Dr Reddy’s, Sun Pharmaceuticals, Power Grid and Coal India are losing sheen on BSE.

Some buying activity is seen in banking, auto financial services, FMCG and realty sectors, while media and IT sectors are showing weakness on NSE.

The INDIA VIX is down 6.75% at 18.1850. Out of 1,853 stocks traded on the NSE, 524 declined, 927 advanced and 402 remained unchanged today.

A total of three stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE.

Moody’s has affirmed India’s Baa3 rating and the positive outlook but no upgrade is on the anvil.

Global cues turned weak as profit booking sets in after a week of heady gains both on the indices & bond yields. With US dollar also weakening emerging markets saw a relief rally with Brazilian index up almost 2% even as most European markets ended in the red. We could see some Asian markets also bounce from oversold territory as value buying emerges.

On the global front, all eyes will be on Janet Yellen as she speaks before congress today.

Nasscom cut growth guidance for the industry to 8-10 % in constant currency terms from 10-12%. According to the guidance, India will continue to gain market share of 7% of global software and IT services and 56% of global sourcing.

New Delhi has woken up to tremors as a 4.4 magnitude earthquake struck on the Delhi-Haryana border early morning. The first day of Parliament’s Winter session saw the Opposition launch an attack on the government for the demonetisation of high value currencies.

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Top 13 stocks in focus today: Bharti Airtel, Voltas, Indraprastha Gas

Top Stocks For TodayBharti Airtel:  Bharti Airtel announced completion of the merger of its subsidiary Bangladesh telecom unit with Robi Axiata Limited.

Greenply Industries: The company informed on BSE that MSCI has announced the changes to constituents for the MSCI Global Small Cap Indexes and as part of change. Change in constituents for the MSCI Global Small Cap indices will take place as of the close of November 30, 2016.

Indraprastha Gas: The company also posted a net profit of Rs 144 crore for the quarter ended September 30, 2016 as compared to Rs 102 crore for the quarter ended September 30, 2015.

Petronet LNG: The company will announce its Q2 numbers today.

Voltas: Voltas reported 7% increase in consolidated net profit at Rs 72 crore for the quarter ended on September 30, 2016. It had posted a net profit of Rs 67 crore in the July-September quarter a year ago.

Shipping Corporation of India: The company posted standalone net loss of Rs 20 crore for the second quarter ended September 30, 2016-17. The company had posted standalone net profit of Rs 162 crore in the July-September quarter of the 2015-16 fiscal.

Engineers India: Engineers India reported a 21% jump in net profit in September quarter at Rs 94 crore as compared to Rs 77 crore in the same period a year before, and declared a 1:1 bonus share.

Crompton Greaves Consumer Electricals: The company has assigned an advertising budget of Rs 1 bn towards building its brand and has appointed BBDO as its advertising agency.

Axis Bank: The bank has cut marginal cost of fund-based lending rate (MCLR) by 0.15-0.20%.

Goldstone Infratech Ltd: The company has announced its move to assemble electric buses in partnership with BYD Company Ltd, based in China.

Reliance Communications Ltd: The Company through its wholly owned subsidiary Reliance Globalcom Services Inc, has acquired a newly incorporated Company named “Onyx NewCo LLC”, a Delaware Registered Company.

Deepak Fertilisers & Petrochemicals Corporation: The company will announce its Q2 numbers today.

HMT: The company will announce its Q2 numbers today.

Bharti Airtel Ltd
BSE 309.00 [0.55] ([0.18]%)
NSE 309.10 [0.55] ([0.18]%)

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Live Stock Market Updates – Sensex, Nifty consolidate gain

sensex

The Indian stock market gained the most in nearly 1-month, following a rebound in Asian markets after their steepest slide since Brexit, on speculation that U.S. President-Elect Donald Trump will pursue business-friendly policies. Nifty Realty index surged 4.5% after losing more than 10% on black money crackdown. Nifty Bank hits 20K for the first time since September 23, 2016.

At 2:11 PM, the S&P BSE Sensex is trading at 27,688, up 436 points, while NSE Nifty is trading at 8,567  up 135 points. The BSE Mid-cap Index is trading up 2.34% at 13,023 whereas BSE Small-cap Index is trading up 2.66% at 13,042.

Tata Steel, Cipla, SBI, Bharti Airtel and Sun Pharma are among the gainers, whereas Infosys, Godrej Properties, Redington and Prestige estates are losing sheen on BSE.

All the BSE sectoral indices were trading in the positive territory. Some buying activity is seen in metal, telecom, auto, banking, basic materials and pharma sectors.

The INDIA VIX is down 8.25% at 15.2475. Out of 1,878 stocks traded on the NSE, 193 declined, 1,396 advanced and 289 remained unchanged today.

A total of 18 stocks registered a fresh 52-week high in trade today, while four stocks touched a new 52-week low on the NSE.

Motherson Sumi Systems rallied 6.5% after the company has posted a net profit of Rs 480 crore for the quarter ended September 30, 2016 as compared to Rs 380 crore for the quarter ended September 30, 2015.

Sun Pharma gained 2.3%.  The pharma company will announce its Q2 numbers today.

Bosch soared 2.5% to Rs 21,800. The company reported a net profit of Rs 704 crore for the second quarter ended September 30, 2016. It had posted a net profit of Rs 393 crore in the same quarter last fiscal.

SAIL climbed 4.8%. SAIL said it has signed a memorandum of understanding (MoU) with South Korean giant Posco for technical collaboration for operational improvements.

Lupin slipped 0.53%. Lupin reported its profit surged 58% from a year ago on strong sales growth in the US, the drugmaker’s biggest market. Net profit at India’s third largest drugmaker rose to Rs 662 crore for the quarter.

Tata Chemicals rallied 3% ahead of Q2 numbers today.

JK Tyre jumped 6% after the company registered a consolidated net profit of Rs 110 crore for the second quarter ended September 30, 2016 on account of growth in sales of passenger radials and agri tyres. It had posted a net profit of Rs 115.8 crore in the same quarter last fiscal.

Cipla soared 6.5%. The company has posted a net profit after taxes, minority interest and share of profit of associates of Rs 354 crore for the quarter ended September 30, 2016 as compared to Rs 543 crore for the quarter ended September 30, 2015.

Godrej Properties dropped 2.7%. The company has posted a net profit after minority interest of Rs 23.5 crore for the quarter ended September 30, 2016 as compared to Rs 103.9 crore for the quarter ended September 30, 2015. Total Income has decreased from Rs 1350 crore for the quarter ended September 30, 2015 to Rs 359 crore for the quarter ended September 30, 2016.

Tata Steel soared 9.6%. The company might be planning to close down the deficit-hit pension fund at the heart of its UK steel crisis, as per media reports.

Bank of India jumped 7.6%. The bank will announce its Q2 numbers today.

Apollo Tyres gained 2%. Apollo Tyres reported a decline of 7% in consolidated net profit at Rs 260.03 crore for the quarter ended September.

Balrampur Chini Mills rallied 2.7%. The company said that the board will consider a proposal for buy back of equity shares of the company on November 15. Shares of the company closed 1.18 per cent up at Rs 115.65.

Narayana Hrudayalaya soared 4%. Narayana Hrudayalaya announced that its board has approved cessation of operation at its unit at Berhampore, West Bengal by selling its entire shareholding in its wholly owned subsidiary, Asia Healthcare Development Ltd, to Lila Hospitals Private Ltd.

UCO Bank soared 8%. The bank reported a net loss of Rs 384.8 crore for the quarter ended September 30, 2016 against a net profit of Rs 156 crore in the same quarter last year.

Snowman Logistics slipped 1.6%. Snowman Logistics its revenue for the quarter declined 15% yoy to Rs 47 cr as revenue from temperature controlled services declined by 10.7%.

The rupee opened lower at 66.39/$ as against the previous close of 66.42/$.

Asian markets opened deep in the green as oversold indices saw short covering coupled with fresh buying as the Dow Jones index touched new highs. This after huge intraday swings with US futures hitting lows of -800 points at one time. Bond yields on the US 10 year paper hit over 2% as optimism on growth with infra spending rising saw the yields near 9 month highs.

The markets have been roiled for some time ever since the chances of a Trump victory surfaced though major bets remained on Hillary who eventually had to concede defeat. For now, Trump’s acceptance speech suggests he has indeed left the campaign ‘trumpisms’ aside and is set to usher in a new world order. The US markets may not have saluted his victory on Wednesday but he is known to be a friend of Wall Street.

Bonds and Gold which saw some smart up move failed to maintain their gains. Banks in India are stepping up activity to help cope with disruption caused by the withdrawal of Rs 500 and Rs 100 currency notes. While a lot of people are finding ways and means to change their high value notes, expectations are that earnings recovery could be pushed a few quarters further.

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Live Stock Market Updates – Nifty holds 8500 mark

NSE picThe Indian equity market opened lower dragged by global concerns. The Nifty breached the crucial 8500 level for the first time since July 11 weighed down by losses in IT, oil & gas, banks, auto, and capital goods stocks.

The Nikkei India Services PMI rose to 54.5 in October from 52 in September. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

At 9:37 AM, the S&P BSE Sensex is trading at 27,567 up 40 points, while NSE Nifty is trading at 8,528 up 14 points.

The BSE Mid-cap Index is trading down 1.40% at 13,254 whereas BSE Small-cap Index is trading down 1.44% at 13,362.

ICICI Bank, Tata Steel, Cipla, Hero MotoCorp, Dr Reddy’s and RIL are among the gainers, whereas ONGC, Bharti Airtel, M&M, Wipro and Sun Pharmaceuticals are losing sheen on BSE.

Some buying activity is seen in metal, consumer durables, banking, realty, pharma, finance and basic materials sectors, while IT sector is showing weakness on BSE.

The INDIA VIX is down 0.62% at 16.6925. Out of 1,865 stocks traded on the NSE, 360 declined, 1,125 advanced and 380 remained unchanged today.

A total of 19 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

Hindalco Industries Ltd is currently trading at Rs 164.85, up by Rs 8.5 or 5.44% from its previous closing of Rs 156.35 on the BSE.

Lupin slipped 1.2%. The company has received approval from the US drug regulator for a contraceptive tablet. The product is a generic version of Janssen Pharmaceuticals Inc.’s drug.

Mphasis Ltd is currently trading at Rs 509.9, down by Rs 11.4 or 2.19% from its previous closing of Rs 521.3 on the BSE. The company will announce its Q2 numbers today.

Hero MotoCorp gained 1.7%.  Hero MotoCorp reported a 3.6% increase in sales at 663,153 units in October.

TVS Motor Company slipped 1.4%. The company posted 12% increase in total sales at 308,690 units in October. The Chennai-based company had sold 274,622 units in the same month last year.

IL&FS Engineering tanked 6% after the company reported net loss of Rs 81 crore for the quarter ended September 30, 2016 against net loss of Rs 82 crore in the same quarter a year ago.

Ambuja Cements inched up 0.48% to Rs 242. Ambuja Cements will announce its Q2 numbers today.

Zensar Technologies tumbled 3.8%.The company has acquired Foolproof Ltd along with its three wholly owned subsidiaries for an undisclosed amount.

Monsanto India Ltd is trading flat on the BSE. The company will announce its Q2 numbers today.

Strides Shasun Ltd soared  6.6%. The company said it and Mylan agree to settle regulatory and general claims on Agila transaction. After payment to Mylan, Strides to receive approximately $30 million from regulatory escrow.

Aurobindo Pharma is trading lower by 1% to Rs 784. Aurobindo Pharma has expressed interest in acquiring Portuguese drug maker Generis Farmaceutica for about $200 million, as per media reports.

Oudh Sugar Mills soared 2%.  The company posted its net profit at Rs 18.6 crore in the quarter ended September 2016 as against net loss of Rs 19 crore in the corresponding quarter last year.

Gulshan Polyols soared 5.2% after the company informed BSE that the board of directors of the company is scheduled to be held on November 05, to consider and discuss the matter of sub-division of equity shares of the company.

MMTC gained 2.3% to Rs 53.  MMTC plans to sell sovereign gold coins to non-resident Indians through branches of Indian banks with which it has tied-ups.

Asian markets opened flat to mildly positive after a huge drubbing in the last session. Globally the Fed maintained status quo on rates which saw yields fall along with the US $. Oil weakness saw energy stocks lead the declines even as financials rallied in the last hour. Next few days could see the uncertainty prevail with opinion divided on the outcome of the elections. However given the market behavior over the last 1 month most participants feel the probability of a Trump victory could well have been priced in with markets having only a knee jerk reaction on the day of the results.

India has the potential to move much ahead said PM Narendra Modi at a journalism awards event presented by IIFL Wealth & Asset Management. While the government says it will continue to undertake needed measures to strengthen economy, boost GDP growth and create jobs, rating agencies are not impressed as yet.

S&P retained India’s rating at ‘BBB-‘ with a stable outlook. Citing low per capita income and weak public finances, it ruled out an upgrade even for next year.

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Live Stock Market Updates – Sensex, Nifty flat; Metal, Consumer Durables stocks lead

stock-marketThe Indian equity market opened lower dragged by global concerns. The Nifty breached the crucial 8500 level for the first time since July 11 weighed down by losses in IT, oil & gas, banks, auto, and capital goods stocks.

At 9:37 AM, the S&P BSE Sensex is trading at 27,567 up 40 points, while NSE Nifty is trading at 8,528 up 14 points.

The BSE Mid-cap Index is trading down 1.40% at 13,254 whereas BSE Small-cap Index is trading down 1.44% at 13,362.

ICICI Bank, Tata Steel, Cipla, Hero MotoCorp, Dr Reddy’s and RIL are among the gainers, whereas ONGC, Bharti Airtel, M&M, Wipro and Sun Pharmaceuticals are losing sheen on BSE.

Some buying activity is seen in metal, consumer durables, banking, realty, pharma, finance and basic materials sectors, while IT sector is showing weakness on BSE.

The INDIA VIX is down 0.62% at 16.6925. Out of 1,865 stocks traded on the NSE, 360 declined, 1,125 advanced and 380 remained unchanged today.

A total of 19 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

Asian markets opened flat to mildly positive after a huge drubbing in the last session. Globally the Fed maintained status quo on rates which saw yields fall along with the US $. Oil weakness saw energy stocks lead the declines even as financials rallied in the last hour.

Next few days could see the uncertainty prevail with opinion divided on the outcome of the elections. However given the market behavior over the last 1 month most participants feel the probability of a Trump victory could well have been priced in with markets having only a knee jerk reaction on the day of the results.

India has the potential to move much ahead said PM Narendra Modi at a journalism awards event presented by IIFL Wealth & Asset Management. While the government says it will continue to undertake needed measures to strengthen economy, boost GDP growth and create jobs, rating agencies are not impressed as yet.

S&P retained India’s rating at ‘BBB-‘ with a stable outlook. Citing low per capita income and weak public finances, it ruled out an upgrade even for next year.

On the economy front, Nikkei Services and Composite PMI will announced today.

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Top 15 stocks in focus today: Maruti Suzuki, Sun Pharma, Hero MotoCorp

Top Stocks For TodayTech Mahindra: The IT company will announce its Q2 numbers today.

Suzlon: Suzlon group has entered into a joint venture with Ostro Energy for the development and construction of a 50-MW solar project in Telangana.

Navneet Education: Navneet Education signs an agreement to acquire Britannica’s Indian curriculum business for Rs 0.88 bn. This move will help expand Navneet’s range of curricular offerings in the Indian school market.

ONGC: The company will announce its Q2 numbers today. ONGC by deploying a record number of rigs, including one from China, has embarked on an aggressive road-map to explore more natural gas in the northeastern state of Tripura, bordering Bangladesh.

Maruti Suzuki: The auto company will announce its Q2 numbers today.

Dr Reddy’s Laboratories: Dr Reddy’s Lab has entered into a strategic collaboration with Gland Pharma to market and distribute a diverse portfolio of eight injectable Abbreviated New Drug Applications (ANDAs), or alternatively called as generic drug approvals.

Sun Pharmaceutical: Sun Pharma will acquire Ocular Technologies, Sarl (OTS) of Auven Therapeutics, an international private equity company focused on therapeutic drugs.

Gulf Oil Lubricants, Bajaj Auto: Gulf Oil Lubricants has entered into a tie-up with Bajaj Auto Limited to manufacture and supply lubricants.

Bharti Airtel: Bharti Airtel, India’s largest telecommunications services provider, launched an affordable 10 day validity pack for International Roaming.

Hindustan Unilever Ltd: The company has posted a net profit of Rs 1096 crore for the quarter ended September 30, 2016 as compared to Rs 982 crore for the quarter ended September 30, 2015.

Hero MotoCorp Ltd: The company has posted a net profit of Rs 1,004 crore for the quarter ended September 30, 2016 as compared to Rs 786 crore for the quarter ended September 30, 2015.

JK Lakshmi Cement: The company has posted a net profit of Rs 25 crore for the quarter ended September 30, 2016 as compared to net loss of Rs 8.4 crore for the quarter ended September 30, 2015.

Cadila Healthcare: The pharma company posted a net profit after taxes, Minority Interest & Share of Profit/Loss of Associates of Rs 338 crore for the quarter ended September 30, 2016 as compared to Rs 475 crore for the quarter ended September 30, 2015.

HDFC: The company has posted a net profit after tax of Rs 1,827 crore for the quarter ended September 30, 2016 as compared to Rs 1,604.5 crore for the quarter ended September 30, 2015.

JSW Energy: The company posted a net profit after taxes, minority interest and share of profit of associates of Rs 217 crore for the quarter ended September 30, 2016 where as the same was at Rs 534 crore for the quarter ended September 30, 2015.

Ajanta Pharma Ltd: The company has posted a net profit after tax, minority interest and share of profit of associates of Rs 131 crore for the quarter ended September 30, 2016 as compared to Rs 103 crore for the quarter ended September 30, 2015.

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Sensex falls over 250 points ahead of Oct F&O Expiry

stock market downThe Indian stock market closed down for the second straight day, dragged lower by financial stocks such as Axis Bank after the lender reported a quarterly profit slump and on the back of muted second quarter earnings by some companies.

Besides banks, Tata Group stocks extended their fall after the abrupt ouster of Chairman Cyrus Mistry on Monday, lower global crude oil prices and dampened sentiment ahead of the October month F&O expiry on Thursday.

Among the 50-stocks of Nifty, Idea Cellular, Kotak Mahindra Bank, Hero MotoCorp, Bharti Airtel, Maruti Suzuki and HUL were among the gainers on NSE, whereas Axis Bank, Tata Motors DVR, Tata Steel, Tata Motors, ICICI Bank, Bharti Infratel and Tech Mahindra were among the losers today.

Finally, the BSE Sensex ended with a loss of 255 points at 27,837. The BSE Sensex opened at 28,051, touched an intra-day high of 28,050.55 and low of 27,760.

The NSE Nifty closed with a loss of 76 points at 8,615. The NSE Nifty opened at 8,657 hitting a high of 8,657.30 and low of 8,597.

Heavy selling pressure was witnessed in banking, metal, financial, industrial, pharma, and power stocks, while telecom and consumer durables stocks were among the gainers.

On the economy front, Union Minister Nirmala Sitharaman expressed disappointment at India’s rank remaining low on the ease of doing business front. The efforts and reforms undertaken by the Centre and states have not been adequately captured in the ranking released by the World Bank, Nirmala Sitharaman said.

On the global front, Asian markets closed in red. The Nikkei 225 closed marginally higher. Hong Kong’s Hang Seng index and Shanghai Composite index closed in red.

European markets were trading in red on Wednesday, as oil prices extended losses and investors digested a slew of mixed earnings reports. The FTSE 100 and the CAC 40 were trading lower by 2% each. DAX slipped 1.02%.

The India VIX (Volatility) index was down 0.20% at 14.4525. Out of 1,481 stocks traded on the NSE, 982 declined and 457 advanced today.

The rupee was trading up one paise at 66.82 per US dollar.

Axis Bank tanked 8% to Rs 486 on the BSE. The bank has posted a net profit of Rs 319 crore for the quarter ended September 30, 2016 as compared to Rs 1915.6 crore for the quarter ended September 30, 2015.

Cadila Healthcare dropped 4.8% after the pharma company posted a net profit after taxes, Minority Interest & Share of Profit/Loss of Associates of Rs 338 crore for the quarter ended September 30, 2016 as compared to Rs 475 crore for the quarter ended September 30, 2015.

Suzlon Energy gained 0.48% after the company signed a Share Subscription and Shareholders’ Agreement with Ostro Energy Private Limited for setting-up of a solar power project under Prathamesh Solarfarms Limited, presently a wholly owned subsidiary of the Company, and eventually sale of Prathamesh.

Navneet Education inched up 1% at Rs 110 on the BSE. The company announced the acquisition of Chicago-based Britannica’s Indian curriculum business. Under the agreement, the current Britannica business unit will become an independent company with Navneet.

ITC Ltd closed marginally higher on the BSE. The company posted a net profit of Rs 2,500 crore for the quarter ended September 30, 2016 as compared to Rs 2,262.5 crore for the quarter ended September 30, 2015.

Bharti Airtel Ltd zoomed 2%. The company has posted a net profit of Rs 1460 crore for the quarter ended September 30, 2016 as compared to Rs 1536 crore for the quarter ended September 30, 2015.

A total of 102 stocks registered a fresh 52-week high in trade today, whereas seven stocks touched a new 52-week low on the NSE.

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Live Stock Market Updates – Sensex down over 200 points, slips below 28K

150130141223-stock-market-down-780x439The Indian stock market declined for a second straight day weighed down by disappointing second quarter earnings from Axis Bank while Tata Group stocks extend their slide.

The Sensex was trading over 200 points lower, while the Nifty slipped below its crucial psychological support level of 8,650 weighed down by losses in realty, power, oil & gas, metal, consumer durable, and banking stocks.

At 9:30AM, the S&P BSE Sensex is trading at 27,903 down 240 points, while NSE Nifty is trading at 8,627  down 63 points.

The BSE Mid-cap Index is trading down 0.14% at 13,524 whereas BSE Small-cap Index is trading up 0.02% at 13,515.

Bharti Airtel, Hero MotoCorp, Maruti Suzuki, ONGC, HDFC Bank and Bajaj Auto are among the gainers, whereas Axis Bank, ICICI Bank, Asian Paints, Tata Motors and Dr Reddy’s are losing sheen on BSE.

Some buying activity is seen in media, metal and realty sectors, while banking, financial services, auto and FMCG are showing weakness on NSE.

The INDIA VIX is up 1.63% at 14.7200. Out of 1,857 stocks traded on the NSE, 897 declined, 547 advanced and 413 remained unchanged today.

A total of 42 stocks registered a fresh 52-week high in trades today, while two stocks touched a new 52-week low on the NSE.

The rupee opened marginally higher by two paise at 66.80/$ as against the previous close of 66.82/$.

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