Mumbai: Benchmark Sensex gave up early gains to end lower for the fourth straight session today after investors moved in to book profits. The 30-share index rose over 267 points in morning trade to hit the day’s high of 29,701.19, before losing momentum to end 94.56 points, or 0.32% lower at 29,319.10. The broader NSE Nifty shuttled between 9,217.90 and 9,095.45, before ending 34.15 points, or 0.37% down at 9,105.15.
Earlier, Indian shares rose on Tuesday after three straight sessions of falls as the corporate results season kicked in with banks rallying on expectations of stronger earnings. NSE Nifty reclaimed the psychological 9,200-mark and BSE benchmark Sensex soared about 267 points in early trade, triggered by across-the-board buying amid mixed overseas cues.
The earnings season got off to a weak start with IT major Infosys Ltd issuing a lower-than-expected revenue guidance last week, but analysts still see signs of positive results this quarter.
The Nifty PSU bank index gained up to 2.47%, touching its highest since August 2015.
■ 2.30pm: The 30-share S&P BSE Sensex is currently trading higher by 108.44 points, or 0.37%, to 29,522.10, while the Nifty 50 of the National Stock Exchange (NSE) rises 28.05 points, or 0.31%, to 9,167.35.
■ 2pm: Rupee was trading at 64.51, up 0.01% from its Monday’s close of 64.41. The rupee opened at 64.51 a dollar and touched a high and a low of 64.48 and 64.58 respectively. Year-to-date, it gained 5.5%.
■ 1.40pm: The 30-share S&P BSE Sensex is currently trading higher by 121.07 points, or 0.41%, to 29,534.73, while the Nifty 50 of the National Stock Exchange (NSE) rises 30.35 points, or 0.33%, to 9,169.65.
■ 12.30pm: The 30-share S&P BSE Sensex is currently trading higher by 211.50 points, or 0.72%, to 29,625.16, while the Nifty 50 of the National Stock Exchange (NSE) rises 66.60 points, or 0.73%, to 9,205.90.
■ 12.25pm: Orchid Pharma Ltd rose 15% to Rs39 after the company said it got establishment inspection report from US drug regulator for its Tamilnadu plant.
■ 11.25am: The 30-share S&P BSE Sensex is currently trading higher by 251.56 points, or 0.86%, to 29,665.22, while the Nifty 50 of the National Stock Exchange (NSE) rises 70.90 points, or 0.78%, to 9,210.20.
■ 11am: Shares of Adani Enterprises Ltd surged over 100% so far this year, with hitting all time high on the back of higher volumes. The stock gained as much as 25% in intraday, to hit record high of Rs153.45 a share. The stock fell only 22 sessions in this year.
Other Adani group companies were also jumped. Adani Ports and Special Economic Zone Ltd rose 3.6%, Adani Power Ltd 4.3%, Adani Transmission Ltd 6.9%. Year to date, Adani Ports and Special Economic Zone rose 24%, Adani Power Ltd 14%, Adani Transmission Ltd 56%.
■ 10.35am: The 30-share S&P BSE Sensex is currently trading higher by 263.06 points, or 0.89%, to 29,676.72, while the Nifty 50 of the National Stock Exchange (NSE) rises 75.45 points, or 0.83%, to 9,214.75.
■ 10.20am: RIL on Tuesday beat India’s top software services exporter, TCS to become the most valued firm in the country. However, this was not the first time when RIL crossed TCS. RIL had seen higher market value then TCS Last time, on 13 February 2013.
■ 10.10am: RIL’s market capitalisation was at Rs4.57 trillion while its shares touched a high of Rs1,407.90 a share, up 1% from previous close. TCS m-cap was at Rs4.56 trillion. It was trading at Rs2,320 on BSE, unchanged from its previous close.
■ 10am: Adani group stocks surged. Adani Enterprises Ltd rose 20% to Rs147, Adani Ports and Special Economic Zone Ltd rose 3.6%, Adani Power Ltd 4.3% and Adani Transmission Ltd 6.9%.
■ 9.50 am: Banking stocks were trading higher. Bank of India rose 5%, Corporation Bank 3.6%, Oriental Bank of Commerce 3.3%, South Indian Bank 2.9%, Indian Overseas Bank 2.9%, Karnataka Bank 2.5%, Punjab National Bank 2.5%, Union Bank of India 2.4%, Allahabad Bank 2%, Syndicate Bank 2%, Indian Bank 2%, Dena Bank 2%, Bank of Baroda 2% and Andhra Bank 2%.
■ 9.38am: Gruh Finance Ltd is up 7.1% to Rs396 after the company said its net profit rose 25.8% in the March quarter to Rs110.45 crore from Rs87.82 crore a year ago. Revenues rose 13.4% to Rs416.11 crore.
■ 9.35am: Tata Consultancy Services Ltd rises 0.1% to Rs2,323.30 ahead of its March quarter earnings. According to 26 Bloomberg analyst estimates, the company may post a net profit of Rs6,654.60 crore, while net sales will be at Rs29,893.10 crore.
■ 9.30am: Tata Steel Ltd rises 1.4% to Rs468.50 ahead of its board meeting on 20 April to consider fund raising.
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■ 9.25am: Metal stocks are trading higher. Hindalco Industries Ltd is up 3%, National Aluminium Co. Ltd 2.6%, Jindal Steel and Power Ltd 2.1%, Vedanta Ltd 1.7% and NMDC Ltd 1.6%.
■ 9.15am: The rupee opened at 64.51 a dollar. At 9.15am, the home currency was trading at 64.55, down 0.05% from its Monday’s close of 64.41. Year to date, it gained 5.5%. Read more
■ 9.10am: The 10-year bond yield was trading at 6.86% compared to its previous close of 6.847%. Bond yields and prices move in opposite directions.
■ 9.05am: The dollar index, which tracks the greenback against a basket of trade-weighted peers, rose 0.1% to 100.38. The dollar gained 0.2% to 109.15 yen in early trade on Tuesday. It hit its lowest level since 15 November on Monday. The euro was steady at $1.0639, retaining Monday’s 0.25% gain.
■ 9am: Crude oil prices were mixed in thin trading on Tuesday after the Easter holiday break shut many markets for as long as four days and a US government report indicated rising production, which may keep a cap on prices after recent gains. Benchmark Brent crude futures were up 5 cents at $55.41 at 0058 GMT. They ended a quiet session on Monday down 53 cents at $55.36, after rising the three previous weeks. US West Texas Intermediate (WTI) crude futures were down 1 cent at $52.64 a barrel. They settled down 53 cents at $52.65 a barrel.
■ 8.40am: Asian stocks pulled back in early trade on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.15% lower. Japan’s Nikkei jumped 0.8%, its biggest one-day gain in three weeks, thanks to a weaker yen. Australian shares slipped 0.8% on their first trading day this week. South Korea’s KOSPI climbed 0.1%.
■ 8.30am: US stocks bounced back on Monday after the S&P 500 closed the previous session at a two-month low, in a broad rally led by recently beaten-down bank and technology shares. On Monday, the Dow Jones Industrial Average rose 183.67 points, or 0.9%, to 20,636.92, the S&P 500 gained 20.06 points, or 0.86%, to 2,349.01 and the Nasdaq Composite added 51.64 points, or 0.89%, to 5,856.79.