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Live: Sensex tanks 284 points

Livemint logo Livemint 03-08-2016 Livemint

BSE benchmark Sensex fell nearly 300 points and NSE Nifty dipped below the 8,550-mark in afternoon trade on Wednesday owing to increased selling in various counters as participants adopted a cautious approach ahead of GST debate in Rajya Sabha. Besides, weak Asian cues also influenced investors sentiment. The index had lost 226.89 points in the previous three sessions.

Sectoral indices led by FMCG, oil and gas, realty, power, infrastructure, banking and healthcare were trading in the negative zone, falling up to 0.60%. The NSE Nifty was also trading down.

Here are the updates:

3.30pm: The S&P BSE Sensex ended 1.02%, or 284.20 points, lower at 27,697.51.

3:15pm: The S&P BSE Sensex is trading 1.16%, or 323.27 points, lower at 27,658.44, while the Nifty 50 is down 1.06%, or 91.50 points, to 8,531.40.

Shares of Tata Motors Ltd fall 2.91%, ITC sheds 2.90%, while Maruti Suzuki India Ltd falls 2.32%.

2:50pm: BSE Sensex is currently trading lower by 175.93 points, or 0.63%, to 27,796.35, while the Nifty falls 46.50 points, or 0.54%, to 8,576.40.

2:45pm: Realty stocks are trading lower. The Phoenix Mills Ltd falls 4.5%, Indiabulls Real Estate 3%, Prestige Estate 1.5%, DLF Ltd 1.4%, HDIL 1.3%, NBCC India Ltd 1.2%, Unitech Ltd 1.1%.

2:30pm: Dwarikesh Sugar Industries Ltd falls 10% to `322.30. The company reported a net profit of `31.93 crore in June quarter as compared to net loss of `56.21 crore a year ago.

2:15pm: Auto stocks are trading lower. Ashok Leyland Ltd falls 2.21%, Tata Motors Ltd 2.2%, Maruti Suzuki India 1.8%, Bajaj Auto Ltd 0.8%, Eicher Motors Ltd 0.8%, Mahindra & Mahindra Ltd 0.5%. BSE Auto Index fell 1.22% to 20830.70 points.

2:00pm: Liquor stocks like Tilaknagar Industries Ltd falls 1%, United Spirit Ltd falls 2.1%, United Breweries Ltd falls 0.7%, McDowell Holdings Ltd 0.8%.

1:50pm: Emami Ltd falls 5% to `1,086.60 after the company reported 34.61% drop in its June quarter earnings to `56.63 crore as compared to `86.61 crore a year ago. Net sales rose 19.9% to `643.37 crore.

1:40pm: Media companies are trading lower. Sun TV Network Ltd falls 2.4%, HT Media Ltd falls 1.8%, Network18 Media Investments Ltd 1.4%, TV18 Broadcast Ltd 1.4%, Zee Entertainment Enterprises Ltd 1.4%, Jagaran Prakashan 0.7%, TV Today 0.5%.

1:30pm: Cigarettes and Liquor stocks are trading lower. ITC Ltd falls 2.3%, Godfrey Philips India Ltd falls 3% and VST Industries Ltd falls 1.3%

1:20pm: Delta Corp Ltd rises 10% to `111.80. The stock gained 23% in last six days and so far this year it gained 36%.

1:10pm: NBFC stocks are trading lower. Bajaj Finance Ltd falls 7.6%, Manappuram Finance 5%, Cholamandalam Investment and Finance Co Ltd 3.7%, Bajaj Finserv Ltd 3.3%, Shriram Transport Finance Co Ltd falls 3%, Mahindra & Mahindra Financial Services Ltd 2.2%, L&T Finance Ltd 1.3%

1:00pm: Banking stocks are trading higher. Jammu & Kashmir Bank rises 2.7%, Oriental Bank of Commerce up 2.6%, Bank of India 2.3%, Union Bank of India 1.6%, Allahabad Bank 1.3%, Bank of Baroda 1.1%, Canara Bank 1%, Karnataka Bank 1%, Indian Overseas Bank 1%, Syndicate Bank 0.7%, State Bank of India 0.6%, Andhra Bank 0.6%, Uco Bank 0.6%, Punjab National Bank 0.6%, ICICI Bank 0.5%.

12:50pm: Reliance Industries Ltd falls 1% to `1,001.25. According to PTI report CAG has red- flagged $1.6 billion of excess cost recovered by Reliance Industries in the KG-D6 gas block and took note of state-owned ONGC’s gas flowing into the eastern offshore fields of the Mukesh Ambani-led firm.

12:40pm: Cadila Healthcare Ltd falls 0.03% to `347.65 ahead of its June quarter earnings. According to 7 Bloomberg analyst, the company may post net profit of `385.70 crore while net sales will be at `2,509.50 crore.

12:30pm: Dishman Pharmaceuticals & Chemicals Ltd falls 2% to `164.25 ahead of its June quarter earnings. According to 4 Bloomberg analyst, the company may post net profit of `48.15 crore while net sales will be at `416.80 crore.

12:20pm: PC Jeweller Ltd falls 2.2% to `415.20 ahead of its June quarter earnings. According to 4 Bloomberg analyst, the company may post net profit of `92.48 crore while net sales will be at `1,730.8 crore.

Live: Sensex falls 135 points as investors turn cautious ahead of GST debate: Photo: Hemant Mishra/Mint© LiveMint Photo: Hemant Mishra/Mint

12:10pm: Titan Co Ltd rises 0.02% to `423.40 ahead of its June quarter earnings. According to 22 Bloomberg analyst, the company may post net profit of `184.20 crore while net sales will be at `3,087.90 crore.

12:00pm: Kajaria Ceramics Ltd rises 1% to `1275 ahead of its June quarter earnings. According to 11 Bloomberg analyst, the company may post net profit of `60.12 crore while net sales will be at `618.30 crore.

11:50am: Cummins India Ltd falls 4% to `811.45 ahead of its June quarter earnings on Thursday. According to Bloomberg analyst, the company may post net profit of `182.6 crore while net sales will be at `1,129 crore.

11:40am: BSE Sensex is currently trading lower by 261.08 points, or 0.93%, to 27,720.63, while the Nifty falls 71.05 points, or 0.82%, to 8,551.85.

11:20am: Bata India Ltd falls 2.5% to `565.15 ahead of its June quarter earnings. According to 5 Bloomberg analyst, the company may post net profit of `64.22 crore while net sales will be at `764.70 crore.

11:10am: Berger Paints India Ltd falls 0.5% to `238.80 ahead of its June quarter earnings. According to Bloomberg analyst, the company may post net profit of `110 crore while net sales will be at `1,100 crore.

11:00am: Voltas Ltd falls 1.7% to `359.10. The company said its profit shot up 53.7% to `157.6 crore compared with year-ago period. Revenue during the quarter jumped 18.6% to `1,855.2 crore compared with `1,564.3 crore corresponding period of last fiscal.

10:50am: Ugar Sugar Works Ltd falls 5% to `59.95. The company said it reported a net profit of `1.11 crore in June quarter as compared to net loss of `92.62 crore a year ago.

10:40am: Saregama India Ltd falls 2% to `273.20 after the company said its net profit for June quarter fell 33.1% to `1.76 crore as compared to `2.63 crore a year ago

10:30am: Metal companies are trading higher after a Reuters report said that the government imposed temporary anti-dumping duty on some steel products. Jindal Steel & Power Ltd rises 1.4%, SAIL 1.3%, JSW Steel Ltd 1%, Tata Steel Ltd 0.5%, Nalco 0.5%, Bhushan Steel Ltd rises 4.1%

10:20am: The 30-share S&P BSE Sensex is currently trading lower by 135.20 points, or 0.48%, to 27,846.51, while the Nifty 50 of the National Stock Exchange (NSE) falls 30.80 points, or 0.36%, to 8,592.10.

10:10am: HCL Technologies Ltd rises 5% to `845. The company reported 14.8% increase in its net profit from a year ago to `2,047 crore in June quarter. Revenue rose 15.9% to `11,336 crore. The company expects FY17 revenue growth in range of 12-14% in constant currency terms and operating margin (EBIT) in range of 19.5-20.5%.

10:00am: Torrent Power Ltd falls 3% to `166.40 after the company said its net profit fell 80% in June quarter to `45.62 crore as compared to `223.16 crore a year ago.

9:50am: The Indian rupee on Wednesday is trading marginally higher against the US dollar at 66.72 a dollar, up 0.03% from its previous close of 66.74, ahead of introduction of GST Amendment bill in upper house of parliament due later on Wednesday.

9:40am: India’s 10-year bond yield is at 7.181%, as compared with its Tuesday’s close of 7.177%.

9:30am: The dollar falls to ¥101.23 from ¥102.60 yen on late Tuesday in Asia, while the euro rises to $1.1215 from $1.1172.

9:20am: Oil prices regained some of their recent plunge. Benchmark US crude is up 29 cents at $39.80 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude edges up 24 cents to $42.04 a barrel in London.

9:10am: Japan’s benchmark Nikkei 225 slips 0.8% to 16,249.97 in morning trading. Australia’s S&P/ASX 200 is down 1% to 5,485.40. South Korea’s Kospi loses 0.8% at 2,002.94. Hong Kong’s Hang Seng dips 1.7% to 21,763.21, while the Shanghai Composite is little changed, inching up 0.1% to 2,973.80.

9:00am: Asian markets slip on Wednesday after US stocks took their biggest loss in almost a month, underscoring simmering worries about global economic growth.

8:50am: The Dow Jones industrial average fell 0.5% to 18,313.77. The Standard & Poor’s 500 index lost 0.6% to 2,157.03 and the Nasdaq composite slid 0.9% to 5,137.73. The Dow has fallen for seven days in a row, and Tuesday was the worst day for US stocks since 5 July.

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