Live: Sensex ends day down 0.41%
Here are the key developments affecting the domestic and international markets today
3.57pm: The S&P BSE Sensex ended marginally lower on Thursday, falling for a third consecutive session as wary investors shied away from IT stocks ahead of Tata Consultancy Services Ltd’s earnings.
Both the Sensex and the Nifty ended the day 0.41% lower.
2:28pm: The S&P BSE Sensex is now trading lower by 40.55 points, or 0.15%, to 27,647.17.
2:05pm: Tata Motors Ltd shares are down 1.9% after Wednesday’s 6% slump on continued worries over unit Jaguar Land Rover’s sales in China amid the stock market rout there.
1:50pm: JK Paper Ltd climbs 5.3% to ₹ 34.75 after the company said in a notice to BSE that India Ratings and Research Pvt. Ltd., a Fitch group company, has upgraded its long-term issuer rating to “IND BBB+" from “IND BBB". The outlook is Positive.
1:33pm: The S&P BSE Sensex is now down 77.60 points, or 0.28%, to 27,610.12.
1:16pm: Shares of IT companies are trading lower ahead of TCS June quarter results. Analysts expect the industry leader’s revenue to rise at least 4% in the quarter, helped by healthy deal wins and favourable currency swings. TCS falls 1.8%, Infosys Ltd is down 1.7%, HCL Technologies Ltd 1.3%, Mindtree Ltd 1.5%, CMC Ltd 1.6%. The BSE IT Index is down 1.3% to 10,260.76 points.
1:00pm: Om Metals Infraprojects Ltd climbs 8.9% to ₹ 42.30 after the company said in a notice to BSE that it has got an order worth ₹ 325 crore to set up smart city near Ujjain.
12:48pm: Essar Oil Ltd shares fall as much as 10.6% to ₹ 168.60 after rising as much as 5.1% in early trade to hit their highest level since 9 September 2008. Rosneft signed a deal on Wednesday to supply 10 million tonnes of crude a year, or 200,000 barrels a day, to Essar and a non-binding memorandum to buy a 49% stake in the Mumbai-based company’s refinery on the western coast of India. Read more.
12:36pm: Shares of oil companies are trading lower on profit-booking. BPCL is down 3.6%, IOC 2.8%, and HPCL 1.3%.
12:20pm: Tata Communications is 1.6% higher after the company entered into an agreement with Orange Business Services to expand the latter’s network footprint in India. The network-to-network interconnect (NNI) agreement is part of a strategic partnership between the two companies and will increase Orange domestic coverage 10-fold to over 120 cities to meet customer demand.
12:05pm: IDBI Bank is currently trading 3.5% higher after it signed an agreement with Mudra Bank for refinancing of loans given to small enterprises. As per the agreement, the bank will offer credit facilities up to ₹ 10 lakh to micro enterprises, at a competitive interest rate under Pradhan Mantri Mudra Yojana and Mudra will be providing refinance assistance to the bank for eligible sanctioned loan cases.
11:46am: The S&P BSE Sensex is trading lower by 19.42 points, or 0.07%, to 27,668.30.
11:25am: Eros International Media Ltd advances as much as 11% to ₹ 597.10 after Bloomberg reported that it is in advanced talks to sell 10% stake in its Eros Now unit to Singapore-based Fullerton Fund Management Co. Ltd.
11:10am: Chinese equity indexes rebound, with more than half of mainland stocks suspended as regulators scramble to halt a $3.9 trillion rout. The Shanghai Composite Index gains as much as 6.8% and Hong Kong’s Hang Seng China Enterprises Index rallies 5.5% after a five-day, 12% rout.
10:57am: Strides Arcolab shares rise 1.7% after brokerage Macquarie maintained its ‘buy’ rating on the stock with a 12-month price target of ₹ 1,700.
10:46am: The Sensex swings back into the positive territory in a volatile session, trading up 38.28 points, or 0.14%, to 27,726.
10:42am: Bhushan Steel Ltd zooms 20% to ₹ 66. Mint reported on Tuesday that the company has won majority banker approvals to refinance its ₹ 35,000 crore debt under the Reserve Bank of India’s 5/25 scheme.
10:35am: A2Z Infra Engineering Ltd surges 8% to ₹ 22.15 after the company said in a notice to BSE that its board will meet on 8 July to consider various options of raising funds, including issuance of equity shares or warrants convertible into equity shares to promoters/investors on a preferential basis.
10:27am: Tata Motors Ltd is down 2.4% to ₹ 395.50. According to Bloomberg, Jaguar Land Rover has recalled over 65,000 Range Rover vehicles from North America due to a manufacturing defect.
10:22am: 8K Miles Software Services Ltd advances 3.7% to ₹ 880.25 after the company said its consolidated net profit rose 14.3% in the June quarter to ₹ 7.20 crore compared with ₹ 6.30 crore a year ago.
10:16am: KNR Constructions Ltd climbs 6.2% to ₹ 608.50 after the company said in a notice to BSE that it has got orders worth ₹ 255.60 crore from Madhya Pradesh Road Development Corp. Ltd.
10:11am: Aegis Logistics Ltd rises 2.6% to ₹ 863 after the company said Kolkata Port Trust allots additional two plots aggregating to 9 acre at Haldia Port. Land at Haldia Port is allotted on a lease for 30 years.
10:06am: The S&P BSE Sensex falls 61.63 points, or 0.22%, to 27,626.09.
10:05am: Suzlon Energy Ltd surges as much as 10.1% to ₹ 23.95 after Bloomberg reported that the company may win orders worth ₹ 1,000 crore this month.
10:02am: Titagarh Wagons Ltd drops 2.6% to ₹ 110.70. The company said in a notice to BSE that it will raise around ₹ 250 crore qualified institutional placement at a price at ₹ 104.64 per share.
9:58am: Essar Oil Ltd jumps 3.1% to ₹ 194.50 after Essar Group agreed to sell as much as 49% of Essar Oil Ltd to Russia’s OAO Rosneft in a deal that would be worth about ₹ 13,400 crore at Wednesday’s market price, reports Mint. The deal will give Essar Oil access to Rosneft’s crude output.
9:54am: Bajaj Corp Ltd is down 0.3% to ₹ 455.60 ahead of its June quarter earnings which will be out later today. The company may post net profit of ₹ 56.12 crore, while net sales will be at ₹ 228 crore, according to 9 analysts of Bloomberg.
9:50am: Sectoral indices—BSE capital goods index is the top gainer, up 1%, followed by healthcare and realty indoces, which are up 0.5% each. The BSE IT and oil and gas indices are top losersm down 0.6%.
9:45am: Tata Consultancy Services Ltd (TCS) is down 1.4% to ₹ 2,557.45 ahead of its June quarter results. The company’s profit may climb 9% from a year earlier to ₹ 5,510 crore ($866 million), according to the median estimate of 25 analysts in a Bloomberg survey.
9.43am: The Sensex is trading higher by 0.04%, or 10.38 points, at 27,698.10, while the 50-share CNX Nifty of the National Stock Exchange (NSE) is up 0.01%, or 1.10 points, at 8,364.15.
9:30am: Indian stocks are trading flat after falling the most in a month on Wednesday, as Chinese shares extended a rout and metal producers tumbled amid a slump in commodity prices.
9:20am: The yield on India’s 10-year benchmark bond is trading at 7.789% compared with its Wednesday’s close of 7.782%.
9:15am: The Indian rupee strengthens marginally to 63.55 per dollar compared with its previous close of 63.60, tracking the gains in the Asian currencies markets. Read more.
9:12am: The dollar rises to 121.16 yen from 120.80 in late trading. The euro is flat at $1.1072.
9:08am: Benchmark US crude fell rises 16 cents to $51.81 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude rises 59 cents to $57.64 in London.
9:03am: The Shanghai Composite Index in mainland China falls more than 3% in the first half hour of trading before reversing course and rising 1.4% to 3,555.69. Hong Kong’s Hang Seng rebounds 4.1% to 24,492.45 a day after suffering its biggest drop since the financial crisis. Japan’s Nikkei 225 is down 1.3% to 19,480.91 and South Korea’s Kospi slides 1.2% to 1,992.91. Australia’s S&P/ASX 200 loses 0.4% to 5,448.40.
9:00am: Asian stocks markets are volatile as China’s main index seesaws after a prolonged sell-off while Hong Kong’s benchmark rebounds strongly.
8:55am: Major US indexes fell on worries about China and the logjam in talks between Greece and its creditors. Trading on the NYSE was also disrupted by technical trouble that caused a shutdown lasting more than three hours. The Dow Jones industrial average dipped 1.5% to 17,515.42 and the Standard and Poor’s 500 fell 1.7% to close at 2,046.68. The Nasdaq slid 1.8% to 4,909.76.
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