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Business News/ Market / Stock-market-news/  Sensex, Nifty close down more than 2% ahead of US payrolls data
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Sensex, Nifty close down more than 2% ahead of US payrolls data

Here are the key developments that affected the markets today

A file photo of the BSE building in Mumbai. Photo: HTPremium
A file photo of the BSE building in Mumbai. Photo: HT

3:24pm: Sensex closes down 2.19%, or 562.88 points, at 25,201.90. Nifty ends at 7,655.05 points, down 167.95 points, or 2.15%, from the previous close.

Amtek Auto Ltd erased all the morning losses and rose as much as 11.7% to 35.25 on the back of higher volumes. Earlier in the morning trade, the stock fell as much as 19%.

Punjab National Bank erased all the morning losses and rose 0.5% to 131.65. Earlier in the morning trade, the stock fell as much as 5.6%.

2:10pm: Indian benchmark equity stock indices tumble around 2.5% on weak global cues amid caution ahead of the US payrolls report due later in the day.

The Sensex plunges as much as 637.21 points to 25,127.57, while the 50-share CNX Nifty of the National Stock Exchange (NSE) is down 195.85 points to 7,627.15.

The benchmark equity gauges are on course for a fourth straight week of declines.

Traders are cautious as US will announce monthly jobs report on Friday which may confirm whether the Federal Reserve will raise rates or not. The next Fed meeting is on 16-17 September.

2:08pm: Global equities extended their weekly slump and emerging-market currencies weakened to a record low as investors cut exposure to riskier assets before US payrolls data.

Sliding factory orders in Germany and concern that China may reduce support for its stock market sent European and Asian benchmark gauges lower, while Standard & Poor’s 500 Index futures signaled further losses in the US. Hong Kong’s Hang Seng Index headed for its worst stretch since the collapse of Lehman Brothers Holdings Inc. in 2008.

2:05pm: The rupee is trading at 66.45 per US dollar, down 0.31% from its previous close of 66.24. The local unit opened at 66.17 per US dollar and touched a high and a low of 66.16 and 66.46, respectively.

1:00pm: Jyothy Laboratories Ltd climbs 5.5% to 323.05 after an Economic Times report said that Henkel AG plans to exercise an option to buy a 26% stake in the local fabric whitener and detergent maker.

12:48pm: Amtek Auto is down 12% to 28.20. Swiss Finance Corp. sold 2.74 million shares and Barclays Capital sold 1.22 million shares of the company on Thursday, according to the NSE block deal data.

12:26pm: Jindal Steel and Power Ltd declines as much as 12% to hit a nine-year low of 58. Year-to-date, the stock is down 60%. On 1 September, Mint reported that Jindal Steel and Power Ltd’s subsidiary Wollongong Coal Ltd said it would suspend operations at one of Australia’s oldest coal mine Russell Vale, following difficult operating and financial conditions.

11:45am: Arvind Ltd gains 2% after Credit Suisse started at “outperform" for the stock, saying Arvind is a ‘go-to’ partner for international brands.

11:22am: Shares of banking companies are trading lower on the back of higher volumes. Yes Bank is down 4.1%, Axis Bank 3.8%, ICICI Bank Ltd 3.6%, Bank of Baroda 3.5%, Punjab National Bank 3.3%, Kotak Mahindra Bank Ltd 3.2%, State Bank of India 2.9%, Federal Bank 2.3%, IndusInd Bank 2.2% and HDFC Bank Ltd 1.6%.

11:10am: Power Mech Projects Ltd rose 1% to Rs620 after the company said in a notice to BSE that it has received a letter of intent from IL&FS Tamil Nadu Power Company for an order worth Rs85.65 crore.

11:00am: Lupin Ltd rises 1% to 1,877. The company has launched generic anti-depressant drug Duloxetine in 40mg strength in the US market.

10:40am: Ashok Leyland Ltd rises 1.5% to 88.80 after the Reserve Bank of India (RBI) allowed foreign investors to invest up to 40% of the paid-up capital in the company.

10:25am: Glenmark Pharmaceuticals Ltd rises 2% to 1,088 after the company said in a notice to BSE that it has received US Food and Drug Administration’s ANDA (abbreviated new drugs application) approval for Voriconazole pills.

10:10am: The BSE market capitalization hits a 10-month low of 93.62 trillion—a level last seen on 27 October 2014. The India VIX also jumps 11.83% to 26.97.

10:03am: All the sectoral indices are trading in the red. The BSE realty index tumbles 4.42%, Bankex is down 3.4%, Power index 2.9% and Auto 2.4%.

9:55am: Cipla Ltd rises 3.4% to 679.50 after the company said it has acquired 100% stake in two US-based companies, InvaGen Pharmaceuticals Inc. and Exelan Pharmaceuticals Inc., for $550 million.

9:47am: Oil and Natural Gas Corp. Ltd (ONGC) rises 1% to 233.70 after Bloomberg reported that OAO Rosneft will sell stake in one of its largest oil-producing projects to ONGC Videsh Ltd, the overseas arm of India’s biggest state-owned explorer.

9:40am: Financial Technologies (India) Ltd falls 1.8% to 110.95 after PTC India Financial Services, one of the founders of the Indian Energy Exchange (IEX), opposed the exchange’s plan to purchase the trading platform technology it relies on from FTIL for 108 crore.

9:34am: Amtek Group companies are trading lower. Amtek Auto Ltd declines 10% to 28.45, Castex Technologies falls 5% to 49.40, Metalyst Forgings is down 5% to 43.75 and JMT Auto drops 5% to 66.85.

9:29am: The Indian rupee opened marginally higher, but soon erased its all gains and was trading 0.1% lower at 66.30 per US dollar after stock markets fell. Read more.

9:20am: The yield on India’s 10-year benchmark bond is trading at 7.749% compared with its Thursday’s close of 7.747%.

9:15am: The dollar falls to 119.55 yen from 120.12 yen in the previous trading session. The euro rises to $1.1128 from $1.1124.

9:10am: Benchmark US crude oil is down 20 cents to $46.55 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude falls 16 cents to $50.52 in London.

9:05am: Japan’s Nikkei 225 falls 1.1% to 17,976.77 and South Korea’s Kospi drops 0.9% to 1,899.20. Hong Kong’s Hang Seng sheds 0.2% to 20,886.89 and Australia’s S&P/ASX 200 falls 0.4% to 5,007.00. Stock markets in Southeast Asia are also lower.

9:00am: Asian stock markets are mostly lower as caution prevailed before the release of the monthly US jobs report and the resumption of trading on Chinese stock markets next week.

8:55am: European markets rallied after the ECB’s remarks but the US stock markets failed to catch the wind, finishing slightly higher on Thursday. The Dow Jones industrial average added 0.1% to 16,374.76. The Standard and Poor’s 500 rose 0.1% to 1,951.13. The Nasdaq composite falls 0.4% to 4,733.50.

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Published: 04 Sep 2015, 09:50 AM IST
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