Home >Market >Stock-market-news >Live market updates: Sensex closes 224 points lower; Nifty holds 8,600

4:11pm: Reliance Industries Ltd (RIL) on Friday reported a 11% rise in March quarter profit, boosted by stronger margins in its core refining business.

3:40pm: The S&P BSE Sensex closes 223.94 points lower at 28,442.10, while the Nifty ends 100 points lower at 8,606 as shares of IT exporters declined on concerns over fourth quarter results after bellwether Tata Consultancy Services Ltd’s (TCS) results failed to cheer investors.

3:26pm: The S&P BSE Sensex is trading 231.21 points lower at 28,434.83, while the CNX Nifty is down 102.15 points at 8,604.55.

1:35pm: The S&P BSE Sensex is trading down 106.35 points, or 0.37%, at 28,559.69.

1:00pm: Oil India Ltd shares rise as much as 3% after the company said it has commissioned a 54 MW wind energy project in Gujarat and Madhya Pradesh. Saddled between the two states, the project is split between a 16 MW capacity plant at Patan in Gujarat and a 38 MW at Chandgarh in Madhya Pradesh.

12:15pm: Lupin falls 5.5%, adding to Thursday’s 2.6% and Wednesday’s 1.5% decline. The stock is heading towards its steepest fall since August 2013 after Aurobindo Pharma got US FDA approval for generic Suprax.

11:30am: Motherson Sumi Systems gains 3.2% as demand for new passenger cars in the EU increased for the 19th consecutive month, at 10.6%, in March. Europe accounts for almost 60% of consolidated revenue for the company, say analysts.

10:24am: The BSE Sensex is now trading at 28,544.72, down 121.32 points, or 0.42%.

10:23am: UBS has cuts India’s NSE Nifty index target to 9,200 from 9,600 earlier, citing cuts in earnings estimates as the key reason. UBS says growth recovery is slower than expected and is playing out in quarterly corporate results.

10:22am: Stocks of sugar refiners fall as analysts fear that higher production will depress local prices further. Bajaj Hindusthan Sugar Ltd is down 1.9%, Mawana Sugars Ltd 2%, Balrampur Chini Mills Ltd 0.4% and Shree Renuka Sugars Ltd 0.6%.

India is likely to produce 27 million tonnes of the sweetener in 2014-15, up about 2% from the previous estimate, industry body says. This will dampen margins of sugar mills, many of them are struggling with cash flows.

10:20am: Natco Pharma Ltd gains 2.1% as analysts expect US approval for Natco’s generic version of Teva multiple sclerosis drug Copaxone in the next few weeks. US FDA on Thursday approved first generic version of Copaxone developed by Sandoz and Momenta Pharmaceuticals Inc.

10:15am: Hindalco Industries Ltd shares gain 0.9% after LIC increased stake in the company. Investments by influential institutions like LIC shows bullishness in the counter for the medium-term, say traders.

10:04am: Agro Tech Foods Ltd, Crisil Ltd, Delta Corp Ltd are some of the companies that will release their earnings for the March quarter on Wednesday.

10:03am: Jindal Steel and Power Ltd rises 1.6% to 159.85 after Bloomberg reported that the court has barred Coal India from taking over two JSPL coal washeries.

10:02am: Gruh Finance Ltd falls 3.8% to 239.90. The company has posted a rise of 0.63% in net profit at 74.06 crore for the quarter ended March compared with 73.6 crore for the same quarter a year ago.

10:00am: Mindtree Ltd falls 3.1% to 1,347.70 after the company reported a decline in fourth-quarter profit, hurt by unfavourable currency fluctuations. Net profit falls 9.2% over the preceding three months to $20.7 million.

9:59am: The 30-share S&P BSE Sensex is now trading down 91.53 points, or 0.32%, at 28,574.51.

9:56am: Reliance Industries Ltd (RIL) rises 1.4% to 940.75 ahead of its quarterly earnings due later today. According to a Bloomberg poll of 16 analysts, RIL is expected to report a stand-alone net profit of 5,931.5 crore for the March quarter and net sales of 64,455.10 crore.

9:55am: Tata Consultancy Services Ltd (TCS) falls 3.3% to 2,502.45 after the company missed analysts’ revenue estimates for the third straight quarter in the three months ended March due to unfavourable currency fluctuations and weaker demand for software services from clients in the US and the UK.

9:50am: Among the BSE sectoral indices, the IT index was the top loser, down 1.3%, followed by Teck and Bankex indices, which were down 0.9% and 0.8%, respectively. The BSE oil and gas was top gainer, up 0.7%, followed by the realty index, which was up 0.3%.

9:40am: The equity markets fall for a third consecutive session. The 30-share S&P BSE Sensex is trading lower by 0.31%, or 87.59 points, at 28,578.45, while the 50-share CNX Nifty of the National Stock Exchange (NSE) down 0.40%, or 34.90 points, to 8,671.80.

9:20am: Deutsche Bank AG has raised its investment recommendation on software firm Rolta India Ltd bonds to ‘buy’ from ‘hold’ a day after the company denied allegations made by short-seller Glaucus Research about fabricated capital expenditures. Deutsche said it agreed with the company’s response that Glaucus had made factual errors in its report and the report had very little new information.

9:15am: The Indian rupee weakened to 62.34 per dollar compared with its previous close of 62.30. Dealers are not selling dollars aggressively noting that state-owned banks are mopping up any excess dollar inflow, most likely on behalf of the Reserve Bank of India (RBI).

9:10am: Oil prices fall in Asia as investors locked in profits following a six-day rally, with a rise in Opec’s output in March also adding to downward pressure, analysts said. US benchmark West Texas Intermediate (WTI) for May delivery dipped 43 cents to $56.28 and Brent crude for June eased 48 cents to $63.50.

9:05am: Fading expectations for a June rate hike pressured the US dollar. The US unit bought ¥119.01, nearly flat on the day but well off this week’s high of 120.845. The euro bought $1.0773, up about 0.1% on the day after climbing as high as $1.0818 on Thursday despite rising concerns about Greece’s financial woes.

9:00am: An index of Asian shares edges away from fresh 7-year highs but is still on track to score weekly gains. MSCI’s broadest index of Asia-Pacific shares outside Japan slips slightly after earlier touching its highest level since January 2008.

Hong Kong’s Hang Seng index rose 0.3%, approaching this week’s seven-year highs triggered by inflows from mainland investors. The Shanghai Composite Index was up 2.2%. Japan’s Nikkei stock average slipped 0.5%, poised for a weekly loss around 0.6%.

8:55am: Wall Street ended with modest losses on Thursday amid worries about upcoming corporate earnings, and after another spate of uninspiring economic data.

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