The Sensex and Nifty staged a gap down opening in trades today on the back of weak global cues. The domestic market dropped the most in four-weeks tracking a rout in global equities amid mounting anxiety ahead of next week’s American presidential election.The Nifty slipped below its crucial psychological level of 8,550 weighed down by losses in realty, power, oil & gas, metal, consumer durables, capital goods and banking stocks.
At 2:54 PM, the S&P BSE Sensex is trading at 27,580 down 296 points, while NSE Nifty is trading at 8,529 down 97 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.
NTPC, Dr Reddy’s, M&M and HUL are among the gainers, whereas ONGC, SBI, ICICI Bank, Adani Ports and GAIL are losing sheen on BSE.
All the BSE sectoral indices were trading in the negative territory.
The INDIA VIX is up 7.45% at 16.9075. Out of 1,871 stocks traded on the NSE, 1,337 declined, 182 advanced and 352 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.
TajGVK Hotels & Resorts Ltd is currently trading at Rs 126.5, up by Rs 5.3 or 4.37% from its previous closing of Rs 121.2 on the BSE. The company reported net profit at Rs 3.4 crore for the quarter ended September 30. EBITDA increased by 39.5% yoy to Rs 15.7 crore while EBITDA margins increased by 526 bps yoy to 23.9% driven by operational efficiencies.
Zensar Technologies Ltd is currently trading at Rs 1048, up by Rs 116.7 or 12.53% from its previous closing of Rs 931.3 on the BSE. Zensar Technologies Limited, an RPG Company and the shareholders of Foolproof Ltd. today announced that they have entered into a definitive agreement for Zensar to acquire Foolproof Limited along with its two wholly owned subsidiary companies in UK and one wholly owned subsidiary Company in Singapore for an undisclosed sum.
Mahindra & Mahindra Ltd climbed 3% on the BSE after the automaker’s sales grew 1% which included a 28% jump in exports for the month of October.
Bharti Infratel Ltd is currently trading at Rs 369.9, up by Rs 14.7 or 4.14% from its previous closing of Rs 355.2 on the BSE.
DCB Bank slipped 1% after huge block deal.Around 1.23 million shares of the bank has changed hands in a two block deal.
Bajaj Auto is trading lower after the company said that its domestic motorcycle sales rose 5% in the month of October 2016, at 212,997 units as against 202,042 units in the same month of last year.
MIC Electronics tumbled 9% to Rs 16 on BSE after consolidated net profit declined 71.6% to Rs 2 crore on 2% rise in net sales to Rs 54 crore in Q2 September 2016 over Q2 September 2015.
Cox & Kings slipped 1% after the company has partnered with UAE Exchange India, the leading financial institution, to provide Inward remittance and domestic money transfer services in India.
Escorts is trading marginally lower on BSE after the company reported strong tractor sales in October 2016 over October 2015. Domestic tractor sales rose 52% to 8,859 units in October 2016 over October 2015. Export rose 270% to 111 units in October 2016 over October 2015.
Dabur India advanced 1.3% after the company is planning to acquire personal care business of CTL group in South Africa, as per media reports.The acquisition will mark Dabur’s entry into the South African personal care market, the company said in a statement.
MOIL rallied 5.6% to Rs 381. The company has increased prices of various grades of manganese ore for the October-December quarter effective from November 1, 2016. The prices have been increased by 30% on the existing prices of all Ferro Grades of ore, while prices have been increased by 25% on all grades of SMGR (Mn 30%) and SMGR Low (Mn 25%) on the prevailing prices.
Lupin is trading lower on the BSE. The pharma company said that it has received final approval from the USFDA to market norgestimate and ethinyl estradiol tablets marked for use by females of reproductive potential to prevent pregnancy.
Tata Motors fell 2.6%. The company sold 16,311 units of passenger vehicles in October, up 28% from the year ago. Jaguar Land Rover, a wholly owned subsidiary of Tata Motors, reported 7% year-on-year rise in US October sales figures.
Coal India is trading 1% lower at Rs 326. Coal India produced 273.57 million tonnes (MT) of coal in the first seven months of the ongoing fiscal, lower than the 307 MT target, as per media reports.
Majesco zoomed 2.8%. The company reported a consolidated net profit of Rs 7 crore for the quarter ended September 30, 2016 against net loss of Rs 0.78 crore in the same quarter a year ago.
VST Industries slipped 2.8% to Rs 2,400. VST Industries reported 11% rise in net profit at Rs 35 crore for the quarter ended September 30, 2016 against Rs 32 crore in the corresponding quarter a year ago.
IL&FS Engineering is trading marginally lower. The company will announce its Q2 numbers today.
Maithan Alloys tanked 12.3%. The company informed BSE that due to adverse market conditions, the production at the Kalyaneshwari Plant has been cut by 15 per cent with effect from October 31, 2016. Between July and October 2016, the cost of imported manganese ore, which accounts for the major cost of production has increased by 200%, imported coke by 80%, whereas the sales price of silico manganese, the finished product, has increased only by 30%.
BGR Energy Systems slumped 3%. BGR Energy Systems received a contract worth Rs.2,600 crore from Tamil Nadu Generation and Distribution Corp. Ltd for the execution of a thermal power project. The contract should be completed in three years.
NHPC inched up 0.19% after the company announced commissioning of a 50MW wind power project in Rajasthan.
Ujaas Energy zoomed 14.4%. The company has bagged an order from Airports Authority of India for design, manufacturing and commissioning of rooftop grid-connected solar photovoltaic system.
Central Bank of India slipped 1.3%. The board on Tuesday considered and approved raising of equity capital by issuance and allotment of up to 1.71 crore equity shares of the face value of Rs 10 each at the issue price of Rs 91.45 per equity share aggregating to Rs 156.79 crore to Life Insurance Corporation of India including its various schemes on preferential basis.
The rupee opened lower by eight paise at 66.78/$ as against the previous close of 66.70/$.
Asian markets opened weak as overnight US indices triggered a sharp correction in global markets with Europe, Latin America following suit. This after pollsters predicted a closer than expected result in the US elections on the 8th November which showed both candidates evenly poised. This set the “cat among st the pigeons’ & the Dow Jones slipped to July levels from where the rally started giving up all the gains of the last 4 months.
Expect high volatility as data is analysed by experts & opinion on the results keeps market on the tenter hooks. Gold continues to hit new highs as uncertainty drives the price higher.
The Fed meet underway is expected to keep rates unchanged. Investors have priced in a status quo for now ahead of the US Presidential elections.
Give Missed Call at +91 830-630-830-8