Markets wrap: Sensex closes just over 36000 points, Nifty at 110507 min read . Updated: 30 Jan 2018, 04:32 PM IST
BSE Sensex closes just over 36000 points, while the Nifty ended at 11,050 mark. Here are the latest updates and developments from the markets
OTHERS : Mumbai: The BSE Sensex sank about 250 points to end at 36,033.73 on Tuesday as investors booked profits in recent outperformers, while caution prevailed ahead of the Union Budget due later this week. The Nifty also retreated from its life highs, but managed to close above the crucial 11,000-mark. The 30-share Sensex, after opening a shade lower at 36,277.12, continued its slide to crack the 36,000-mark and hit a low of 35,993.41 during the day. It finally settled at 36,033.73, down 249.52 points, or 0.69%. The index had gained 232.81 points yesterday and closed at a record high of 36,283.25. The Nifty too closed lower by 80.75 points, or 0.73%, at 11,049.65 after hitting a low of 11,033.90. It had ended at a lifetime high of 11,130.40 on Monday. Brokers said investors took money off the table and adopted a cautious stance ahead of the Union Budget on 1 February. They also adopted a wait-and-watch mode ahead of the US Federal Reserve’s two-day monetary policy meeting. Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs291.86 crore on net basis while domestic institutional investors (DIIs) also picked up equities to the tune of Rs90.08 crore yesterday, provisional data showed. Here are the day’s highlights from the markets:
Closing Bell: Sensex, Nifty end lower
BSE Sensex falls 249.52 points to end at 36,033.73, while the NSE Nifty50 was 80.75 points lower to end at 11,049.65.
SBI Life Insurance Q3 net profit rises 21% to Rs230 crore
SBI Life Insurance Company on Tuesday reported 21% rise in its net profit at Rs230.28 crore for the third quarter ended December 2017 on healthy premium income. The company had registered a net profit of Rs190.43 crore in the corresponding quarter of previous fiscal 2016-17. Total income of the life insurer increased to Rs9,720 crore during the quarter against Rs6,060 crore in the same period of the previous fiscal, SBI Life said in a regulatory filing. The net premium income of the company grew nearly 30% to Rs6,780 crore in the October-December quarter of 2017-18, from Rs5,240 crore earned in the same period of 2016-17. The company’s stock was down 1.78% at Rs670.20 on BSE.
BSE Sensex trades lower by 267.71 points, or 0.74%, to 36,015.54, while the Nifty 50 falls 93.15 points, or 0.84%, to 11,037.25.
Asian shares update
Japan’s Nikkei 225 index lost 1.4% to 23,291.97 and Hong Kong’s Hang Seng dropped 1.1% to 32,607.29. South Korea’s Kospi sank 1.2% to 2,567.74. The Shanghai Composite index fell 0.8% to 3,488.01 and Australia’s S&P ASX 200 gave up 0.9% to 6,022.80. Shares also were lower in Taiwan, Singapore and Indonesia. (AP)
Indian Oil shares rise over 5%
Indian Oil Corp. Ltd said its third-quarter profit nearly doubled, handily beating estimates. Net profit surged 97% to Rs7,883 crore in the quarter ended 31 December, from Rs3,995 crore billion rupees a year earlier. (Reuters)Shares of the company rose 5.15% to Rs419.30 on the BSE Sensex that was trading down 0.69%.
Piramal Enterprises Q3 net profit up 21% at Rs490 crore
Piramal Enterprises on Tuesday reported 21.37% rise in consolidated net profit to Rs490.47 crore for the December quarter on robust performance in financial services and pharmaceutical verticals. The company had posted a net profit of Rs404.08 crore in the year-ago period, Piramal Enterprises said in a filing to BSE. Consolidated revenue from operations also rose to Rs2,858.36 crore for the quarter under review, against Rs2,341.74 crore in the same period a year ago.Shares of Piramal Enterprises were trading at Rs2,783.40 per scrip on BSE, down 0.62% from the previous close. (PTI)
Rupee trades lower
Indian Rupee, Bond prices and markets on Tuesday fell as traders were worried that the government may widen its fiscal deficit target in the budget after economic survey called for a pause in fiscal consolidation. At 2.20pm, it was trading at 63.75, down 0.27% from its Monday’s close of 63.59. The rupee opened weaker to 63.68 and touched a low of 63.79 a dollar. The 10 year bond yield rose another 3 basis points to hit a fresh 19-month high of 7.475% from its previous day’s close of 7.442%. Bond yields and prices move in opposite directions.
BSE Sensex trades lower by 211.57 points, or 0.58%, to 36,071.68, while the Nifty 50 falls 73.65 points, or 0.66%, to 11,056.75.
Manpasand Beverages Q3 profit rises, shares rise 1.2%
Manpasand Beverages December net profit rose to Rs11.99 crore compared to Rs7.24 crore a year ago. The company’s December quarter revenue from operations stood at Rs143 crore against Rs106 crores a year ago. (Reuters)Manpasand Beverages shares were trading at Rs396, rising by 1.27% on the BSE.
RCom shares jump over 19% after Q3 earnings
Shares of Reliance Communications on Tuesday soared over 19% after the company reported narrowing of consolidated loss to Rs130 crore for the quarter ended December 2017. The stock jumped 18.89% to Rs32.40 on BSE. On NSE, shares of the company zoomed 19.11% to Rs32.40. The debt-ridden company yesterday reported shrinking of consolidated loss to Rs130 crore for the December quarter, mainly on account of closure of its loss-making mobile business. The company had reported a loss (attributable to equity holders) of Rs531 crore in the same period a year ago. It also sharply lowered its loss from Rs2,712 crore in the July- September quarter of the ongoing fiscal. (PTI)
BSE Sensex trades lower by 192.60 points, or 0.53%, to 36,090.65, while the Nifty 50 falls 76.20 points, or 0.68%, to 11,054.20.
TVS Motor Q3 profit rises 16%, shares down by 1.84%
TVS Motor Company Ltd reported about 16% rise in quarterly profit on Tuesday, helped by higher sales in the motorcycles segment. Net profit for the third quarter ended 31 December came in at Rs1.54 billion, compared with Rs1.33 billion rupees in the year-ago quarter. (Reuters) Shares of TVS Motor were down 1.84% percent to Rs706.45 at 1.03pm.
BSE Sensex trades lower by 240.85 points, or 0.66%, to 36,042.40, while the Nifty 50 falls 86.00 points, or 0.77%, to 11,044.40
SBI shares rise over 1%
State Bank of India rose 1.3% to Rs315.20. According to BTV, SBI raised bulk deposits rates by 50-140 basis points.
RCom shares rise 19%
Reliance Communications Ltd surged 19% to Rs31.30 after huge block deal. Around 1.25 million shares of the company changed hands in a block deal, Bloomberg reported. However, details of the buyers and sellers were not known.
BSE Sensex trades lower by 193.41 points, or 0.53%, to 36,089.84, while the Nifty 50 falls 68.90 points, or 0.62%, to 11,061.50.
PSU Bank stocks trade higher
PSU Bank stocks trading higher. Canara Bank rose 2%, State Bank of India rose 1.8%, Union Bank of India 0.8%, Bank of Baroda 0.7%, Punjab National Bank 0.6%, Indian Bank 0.6%, Bank of India 0.3%.
OMCs, aviation stocks trade higher
Oil marketing and aviation stocks trading higher after crude oil prices fell. Hindustan Petroleum Corp. Ltd rose 2.4%, Bharat Petroleum Corp. Ltd 1.5%, Indian Oil Corp. Ltd 1%. Among the aviation stocks, Jet Airways India Ltd rose 2%, InterGlobe Aviation Ltd 1%, SpiceJet Ltd rose 3.1%.
Amber Enterprises India shares debut at over 37% premium
Shares of Amber Enterprises India Ltd on Tuesday surged over 37% higher on debut on the bourses, after it’s initial public offer (IPO) was subscribed more than 165 times last week. The stock opened 37.37% higher on the BSE at Rs1,180 a piece , compared to the issue price of Rs859 , which was the upper end of the price band between Rs855-Rs859 per share.
BSE Sensex trades lower by 199.96 points, or 0.55%, to 36,083.29, while the Nifty 50 falls 75.80 points, or 0.68%, to 11,054.60
Anil Ambani group companies’ stocks gain
Anil Ambani group stocks trading higher. Reliance Comm surged 9%, Reliance Power Ltd 1.4%, Reliance Infrastructure Ltd 1%, Reliance Naval and Engineering Ltd rose 1.2%.
Unitech shares gain on positive cues
Unitech Ltd pared all its morning losses and gained over 5% to Rs9.40 after Bloomberg reported that the government lawyers make statement in the Supreme Court saying it will withdraw management takeover case from National Company Law Tribunal.Unitech Ltd’ shares were trading at Rs9.05, rising 0.78% at 10.42am.
KPIT Technologies shares rise 3%
KPIT Technologies Ltd rises 2.99% to Rs215.50. The company said in a notice to BSE that its promoters will make open offer to buy 51.3 million shares, or additional 26% stake for Rs182 a share. KPIT to absorb Birlasoft, demerge engineering business.
BSE Sensex trades lower by 211 points, or 0.58%, to 36,072, while the Nifty 50 falls 79.10 points, or 0.71%, to 11,051.30.
Auto stocks trade higher
Auto stocks were trading higher on Tuesday. Hero MotoCorp Ltd rose 1.2%, Bajaj Auto Ltd 1%, Maruti Suzuki India Ltd 0.3%, Tata Motors Ltd 0.3% and TVS Motors Ltd 1%.
Wockhardt shares fall over 2% after it reports Q3 loss
Wockhardt Ltd fell 2.7% to Rs884.15 after the company posted a loss of Rs40.76 crore in the December quarter against Rs53.91 crore a year ago.
RCom shares rise 2% after narrower Q3 loss
Reliance Communications Ltd rose 2% to Rs27.75 after the company reported a narrower quarterly loss on Monday, as its move out of consumer business helped cut losses. RCom reported a net loss of Rs1.30 billion, smaller than Rs5.31 billion a year ago.
Rupee weakens against US dollar
The Indian rupee on Tuesday weakened against the US dollar. The rupee opened at 63.69 a dollar. At 9.15am, the home currency was trading at 63.69 a dollar, down 0.14% from its Monday’s close of 63.59.
Asian currencies trade lower
Asian currencies were trading lower. South Korean won was down 0.54%, Philippines peso 0.46%, Malaysian ringgit 0.33%, Indonesian rupiah 0.28%, Taiwan dollar 0.17%, Singapore dollar 0.11%, Japanese yen 0.09% and Thai baht fell 0.08%. However, China renminbi rose 0.1%.
Sensex, Nifty fall in opening trade
BSE Sensex trades lower by 98.91 points, or 0.27%, to 36,184, while the Nifty 50 falls 34.30 points, or 0.31%, to 11,096.10.