Sensex, Nifty ends in red; India Bulls top gainer
Heres a live coverage of Sensex, Nifty 50 and stock performances from Zee Business.
On Thursday, Indian markets ended on a dull note, with Sensex closing below 182 points or 0.61% at 29,461.45 and Nifty 50 finishing down 52 points or 0.57% at 9,150.80.
ShareKhan said,"The geopolitical worries have escalated after the United States launched cruise missiles on an air base in Syria last week and due to fears of a new nuclear weapons test by North Korea."
Latest Updates
Sensex closed at 29,413.66, down 47.79 points or 0.16%, while Nifty ended at 9,139.30, down 11.5% or 0.13%.
On 30-share benchmark, among top gainers were Gail (4.01%), Reliance Industries (1.95%), Power Grid (1.30%), Dr Reddy's Lab (0.72%) and Bajaj Auto (0.55%). Among top losers were NTPC (-3.31%), Sun Pharma (-2.18%), Asian Paint (-1.81%), Coal India (-1.77%) and ONGC (-1.08%).
Bharti Infra, NTPC, Sun Pharma etc are the Nift Losers stocks of the day
Jyothy Laboratories touched a 52-week high on Monday after when the company said report of Henkel taking 50% ownership is speculative.
At 1350 hours, shares of Jyothy Laboratories was trading at Rs 409 per share on BSE, above Rs 40 or 10.74%. It touched a 52-week high of Rs 427 after clarifying over the Henkel buzz.
Clarifying to BSE, Jyothy said, "The period for exercise of option by Henkel is upto October 2017 and the news stating that the period of exercise of option may be extended to November is incorrect. Similarly, the said option available to Henkel AG is upto 26% of the equity share capital of Jyothy and hence the news that Henkel AG is keen to take at least 50% ownership is speculative."
On March 31, 2017, Jyothy has intimated BSE about Henkel AG had agreed to extend the period for exercise of option to actuire upto 26% of the equity share capital of Jyothy up to October 31, 2017.
HCL Technologies renewed its transformational IT services engagement with Singapore Exchange for another five years.
Swapan Johri, Executive Vice President, HCL Technologies. “The renewed engagement promises a very exciting journey for both HCL and Singapore Exchange as it leverages automation, collaboration, machine learning, analytics and cloud for driving agility, flexibility and enhanced member experience. We look forward to a continued, mutually beneficial relationship, driving business innovation and IT transformation for Singapore Exchange.”
Shares of were trading at Rs 814.95 per share on BSE, up by 0.44%.
With Nifty index facing hard times from investors, Metal, IT and Pharma stocks have emerged as top losers on the index.
Nifty IT index tanks over 51 points or 0.51% trading at 10,012.85 after Infosys disappointing Q4 result. Analsyts believe after Infosys result investors have become cautious on upcoming IT results.
HDFC Securities said, " The markets have no great hopes from tech bellwether Infosys. The industry is yearning for double digit growth and not getting it."
Also Read: Here's why TCS, Wipro shares slid after Infosys Q4 result
TCS will announce its Q4 result on April 18, 2017, followed by Wipro on April 25, 2017.
At 1251 hours, shares of TCS is trading at Rs 2,306.45 per share below 22 points or 0.95%, Wipro is trading flat at 492.80 per share on NSE.
Nifty Metal was down 24 points or 0.83% trading at 2,960.65 and Nifty Pharma was trading at 10,457.20 below 74 points or 0.71%.
Intellect Design Arena on Monday announced that the Central Bank of America has sellected the company's subsidiary Intellect Quantum Central Banking System for its digial transformation.
The company on NSE said, "Intellect's Quantum Central Banking System will help Central Bank of America to streamline its business process across multiple departments and external entities. It will be able to generate the balance sheet in real time and have comprehensive dashboards for integrated operation and prudential oversight, with no reconciliation hassles,"
Shares of Intellect Design Arena have soared over 3% on BSE. At 1228 hours, the stock price of the company was trading at Rs 124.25 a piece up 1.76%.
The stock price of Reliance Defence surged nearly 3% after when the company announced it's partnership with South Korean defence major LIG Nex1.
In a BSE filing, Reliance Infra said, “Reliance Defence Limited, has entered into a Strategic Partnership agreement with South Korean defence major LIG Nex1."
Reliance Infra added, "As part of this partnership, two companies will explore opportunities in the indentified range of defence products required by the Indian Armed Forces. LIG Nex1 are emerging leaders in smart heavy weapons in category of Anti-ship Missiles, Anti Tank Guided Missiles (ATGM), and Guided Rockets.”
At 1154 hours, shares of Reliance Defence jumped by 1.71% on BSE, trading at Rs 65.70 per share.
Where Sensex was trading between flat to negative, two sectors namely oil & gas and consumer durables surged over 100 points on the index.
S&P BSE Oil & Gas was trading at 14,351.53 up by 133 points or 0.94%, while S&P BSE Consumer Durables soared above 116 points or 0.76% trading at 15,518.50.
Endurance Technologies said that it has entered into agreement with BWI North America Inc on April 15, 2017, for joint development of ABS products for application in two and three wheelers.
In a BSE filing, Endurance said, "This would help the company to cater OEM customers to comply with the new regulations that would require all existing two-wheeler models to be fitted with ABS by April 2019."
At 1007 hours, shares of Endurance surged by Rs 18.85 or 2.26% trading at Rs 849.70 per share on BSE.
Within few minutes of early trade, Indian markets were trading on a negative note with Nifty coming down 9,150-mark and Sensex below 29,400-level.
However, at 1003 hours, Sensex was trading at 29,419.04 down 42 points or 0.16%, while Nifty was trading 9,135.30 below 15 points or 0.16%.
Larsen & Toubro's construction arm on Monday won order worth Rs 2,694 crore across various segments.
This order involve water effluent treatment, smart world communication and transportation infrastructure.
Shares of L&T was trading at Rs 1,682.10 a piece on BSE, up by Rs 5 or 0.31%.
Mahanagar Telephone Nigam Limited (MTNL) shares jumped nearly 2% trading at Rs 26.50 per share after the company said the merger with BSNL is desirable for operational synergy.
PK Purawar CMD of MTNL in a PTI report said, ""The industry is consolidating. It is not an issue of BSNL and MTNL...For any operator to succeed in India a pan India operation is a must."
MTNL have been planning to merger with BSNL for nearly a decade now. The deal awaits for regulatory approvals.
Shares of Bajaj Corp drops by nearly 7% on Monday after it missed analysts' estimates for it's fourth quarter ended March 31, 2017 result.
At 9.41 am, shares of Bajaj Corp was trading at Rs 401.50 a piece down Rs 27 or 6.38%.
The company reported standalone net profit of Rs 52.66 crore in Q4, declining by 2.93% compared to Rs 54.25 crore in the corresponding period of the previous year.
A Bloomberg poll estimated Bajaj Corp to report standalone net profit of Rs 65.8 crore this Q4.
Godrej Properties on Monday announced that it has partnered with Taj Hotels Palace Resorts Safaris to develop a world class Taj brand hotel at its flagship project, The Trees in Mumbai.
The Taj at The Tress will offer approximately 150 guest rooms and suites along with world class dining, entertainment and conferencing facilities.
Shares of Godrej Properties were trading at Rs 432.75 per share up by Rs 3 or 0.67%.
Motilal Oswal said, "Geopolitical issues affected the markets further. De-escalation of tensions between US and North Korea should help the markets. Overall the
markets will be focused on geopolitical news and results season."HDFC Securities in its report said, "Indian equity markets after a long weekend may open on a flat to negative note following weakness in the Asian markets. Real Estate, PSU Banking and Pharma are expected to trade in positive zone whereas IT and Metal sectors are expected to trade in negative zone. Crucial support for Nifty is at 9100 level, while strong immediate resistance is at 9250"
Among losers on BSE were - Sun Pharma trading at Rs 677.70 per share down 2.11%, followed by Tata Motors (Rs 449.30 per share), ITC (Rs 277.35 per share), Infosys (Rs 925.75 per share), Asian Paints (Rs 1,071.40 per share) and TCS (Rs 2,315.05 per share) negative in the range of 0.50% - 0.90%.
Top gainers on BSE involved Dr Reddy's Laboratories taking lead spot trading at Rs 2,706.40 a piece above 2.46%. Followed by others - Adani Ports at Rs 322.90 a piece, ICICI Bank at Rs 283.75 a piece, HDFC at Rs 1,483 a piece, Gail India at Rs 381.35 a piece and Reliance Industries at Rs 1,370 a piece trading positive in the range if 0.40% - 0.75%.
Investors were cautious on Indian equity indices in early trade amid weak global cues.
At 9.19 am, Sensex was trading at 29,472.25 up 10 points or 0.04%, while Nifty was trading at 9,154.95 above 4 points or 0.05%.
INR appreciated against USD. The rupee was trading at 64.335 down 0.150 paisa or 0.23% against dollar.
Gruh Finance and Orient Paper & Industries will be announcing their fourth quarter ended March 31, 2017, result on Monday.
Stocks that will be in focus are:
Infosys: The company said that it plans to focus more on local hiring in the US and is also looking at setting up development and training centres in the country as part of its efforts to tide over visa-related issues.
Also Read: Here are 10 key takeaways of Infosys Q4 FY17 earnings
Bharti Airtel: The company on Sunday said it is handing out free high-speed data to its postpaid subscribers for the next three months to counter aggressive offerings by newcomer Reliance Jio.
Reliance Infrastructure: Anil Ambani-backed Reliance Infra reported consolidated net profit of Rs 40.94 crore for fourth quarter ended March 31, 2017 compared with a net loss of Rs 327.41 crore in the corresponding period of previous year.
DCB Bank: The bank in it's Q4FY17 reported 24% drop in net profit to Rs 52.86 crore as against Rs 69.53 crore of Q4FY16.
Dr Reddy’s Laboratories: The company said US FDA has completed inspection of one of its facilities in Srikakulam, Andhra Pradesh without making any observations.
Petroleum stocks will be in focus too as Indian Oil Corp (IOC) raised gasoline price by 1.39 rupees/litre; raises diesel price by 1.04 rupees/liter.
Asian markets are trading negative on Monday after investor sentiment was hampered by U.S. economic data, worries over North Korea and upcoming French elections.
Japan's Nikkei 225 was trading down 57 points or 0.31% at 18,257.18, while Hong Kong's Hang Seng tumbled over 51 points or 0.21% trading at 24,261.45.
China's Shanghai Composite Index was trading lower by 30 points or 0.95% at 3,215.70.
On Thursday, Indian markets ended on a dull note, with Sensex closing below 182 points or 0.61% at 29,461.45 and Nifty 50 finishing down 52 points or 0.57% at 9,150.80.
ShareKhan said,"The geopolitical worries have escalated after the United States launched cruise missiles on an air base in Syria last week and due to fears of a new nuclear weapons test by North Korea."
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.