Indices close in red; Nifty end below 8,400-mark

After opening marginally up, domestic markets ended in red. Sensex closed at 27,235.66, down 52.51 points or 0.19%, while, Nifty ended at 8,398, down 14.80 points or 0.18%. 

Shares of Havells India dropped over 2% despite the company reported 27% rise in Q3 net profit. The company posted a net profit of Rs 153 crore during December 2016 quarter as against Rs 120 crore during the same period last year. 

At 1513 hours the shares of the company were trading at Rs 373.25 per piece, down 2.12% or Rs 8.10 on BSE. 

Shares of United Spirits jumped 7% with the rise in volumes. At 1504 hours the shares of the company were trading at Rs 2089.70 per piece, up 6.96%, or Rs 136.05 on BSE. 

At 1444 hours the shares of Can Fin Homes were trading at Rs 1738 per piece, up 0.22% or Rs 3.85. The company reported a net profit of Rs 59.6 crore for the quarter ended on December 31 as against Rs 42.1 crore during the same period last year. 

Reliance Industries shares fall further down by 3.21% or Rs 34.55 on BSE at 14:30 hours, at Rs 1042.45 per piece. The shares of the company have been on the decline today as its Q3FY17 results missed the street's expectations.

Sector-wise Banking shares (-106.01 points), Metal shares (-181.17 points) and Oil & Gas shares (-163.82 points) were top losers.

Shares of Balkrishna Industries surged nearly 12%. At 1100 hours the shares of the company were trading at Rs 1212.90 per piece, up 11.75%, or Rs 127.55 on BSE. 

Indices slips in red during morning trade. At 1039 hours Sensex was trading at 27,257.86, down 30.31 points or 0.10%, while, Nifty was at 8,408.15, down 4.65 points or 0.06%.

The rupee strengthened by 5 paise to 68.05 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amidst higher opening in the domestic equity market.

On 30-share benchmark, among top gainers were NTPC (1.32%), Sun Pharma (0.99%), TCS (0.98%), Hindustan Unilever (0.96%) and Asian Paint (0.94%). Among losers were Reliance Industries (-2.04%), Adani Ports (-0.73%), Tata Steel (-0.48%), Lupin (-0.16%) and HDFC (-0.11%). 

Share of Reliance Industries plunged nearly 2% after the company reported just 3.60% rise in consolidated net profit in Q3FY17. 

At 0934 hours the shares of the company were trading at s 1057.75 per piece, down 1.79% or Rs 19.25 on BSE. 

ICICI Prudential Life Insurance Company on Tuesday informed exchange that the company has completed the stake purchase in Fino PayTech for Rs 100 crore. The company will be holding 8.4% stake in technology based solutions providing company. 

At 0923 hours the shares of ICICI Pru were trading at Rs 332.45 per piece, up 0.53% or Rs 1.75 on BSE. 

Domestic markets opened flat on Tuesday. At 0919 hours, Sensex was trading at 27,348.51, up 60.34 points or 0.22%. While, Nifty was trading at 8,420.95, up 8.15 points, or 0.10%.

On Tuesday, domestic markets opened marginally up during the pre-open trade. Sensex was at 27,315.49, up 27.32 points or 0.10%, while, Nifty was 8412.80, up 0.14%. 

Stocks in Focus: Reliance Industries: The company on Monday missed analysts' estimates by reporting 3.60% year-on-year (yoy) rise in consolidated net profit for third quarter ended on December 31,2016. 

Tata Global Beverages: Tata Global Beverages Ltd (TGBL) will be selling its stake in joint venture Zhejiang Tata Tea Extraction Company for Rs 33 crore. The board of TGBL approved the decision to divest its stake in its JV. This means that the company is finally exiting its China operations.

Havells India: The company will be announcing its financial results for the quarter ended on December 31. 

HCL Tech: Ahead of its quarterly results announcement, the exchange on Monday had sought clarification on a law suit filed against its wholly owned subsidiary, HCL America Inc. Replying to them, in a regulatory filing, the company confirmed that a California based corporation has made certain allegations but those claims are 'baseless'.