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Sensex down 91 points, Nifty holds 8,600; IT, logistics stocks fall

Livemint logo Livemint 22-08-2016 Livemint

3:30pm: The BSE Sensex ended lower by 91.46 points, or 0.33%, to 27,985.54.

2:25pm: BSE Sensex is trading lower by 49.19 points, or 0.18%, to 28,027.81, while the Nifty falls 19.65 points, or 0.23%, to 8,647.25.

2:20pm: Education stocks are trading higher on the back of higher volumes. Aptech Ltd rises 15%, Everonn Education Ltd 6%, Educom Solutions Ltd rises 4%, MT Educare Ltd rises 4.2%, NIIT Ltd rises 7.2%, Career Point Ltd rises 1%.

2:10pm: The rupee is trading at 67.22 a dollar, down 0.24%, from its previous close of 67.06. The rupee opened at 67.20 a dollar and touched a low of 67.23 a dollar, a level last seen on 27 July.

2:00pm: Healthcare Global Enterprises Ltd rises 7% to `222 after huge block deal. Around 1.34 million shares of the company changed hands in a block deal. However, buyers and sellers of the deal were unknown, according to Bloomberg report.

1:40pm: Logistic stocks are trading lower. Gati Ltd falls 5%, Snowman Logistics Ltd falls 1.8%, VRL Logistics Ltd 1%, Patel Integrated Logistics Ltd 1.2%.

1:25pm: IT stocks fall. Infosys Ltd falls 0.5%, TCS falls 1.5%, HCL Technologies Ltd falls 0.8%, Wipro Ltd falls 0.8%, Mindtree Ltd 1.9%, Mphasis Ltd 1.6%, RSS Software 1.3%, NIIT Technologies Ltd 1.2%.

1:10pm: BSE Sensex is trading lower by 98.37 points, or 0.35%, to 27,985.07, while the Nifty falls 35.55 points, or 0.41%, to 8,631.35.

1:00pm: Lupin Ltd falls 2.1% to `1,543.80 while Sun Pharmaceuticals Industries Ltd falls 1.6% to `770.35. Lupin, Sun Pharmaceuticals most at risk of earning downgrades due to product concentration and therapies losing market share, Jefferies analysts led by Piyush Nahar write in note. Indian pharma earnings estimates to see another 10% cut in next 12 months; maintains cautious view on large caps.

12:50pm: BSE IT Index hit five month low. The index was trading at 10485.25—a level last seen on 1 March, down 0.6% from its previous close. BSE IT index fell 11 out of 13 trading sessions. Since 2 August, it fell 5% and so far this year it fell 5.1%.

12:40pm: Infosys Ltd falls 0.5% to `1,015—a level last seen on 9 December 2015. The stock fell for eight consecutive sessions and fell 6.2% in this period. So far this year it fell 8.2%.

12:30pm: Auto companies are trading lower. Hero MotoCorp Ltd falls 1.3%, Mahindra & Mahindra Ltd 1.2%, Maruti Suzuki India Ltd 1.1%, Eicher Motors Ltd 0.7%, Ashok Leyland Ltd 0.6%, Tata Motors Ltd 0.5%, Bajaj Auto Ltd 0.1%, TVS Motor Co Ltd falls 2%.

12:20pm: Ujjivan Financial Services Ltd rises 3% to `467. Ujjivan Financial Services has submitted an application to RBI for a small finance bank licence for its subsidiary.

12:10pm: Metal stocks are trading lower. Steel Authority Of India 2.3%, Jindal Steel & Power Ltd 2%, Tata Steel Ltd 1.7%, Hindalco Industries Ltd 1.6%, Vedanta Ltd 1%, Hindustan Zinc Ltd 0.7%, Bhushan Steel ltd 2%,

12:00pm: Banking stocks are trading lower. City Union Bank falls 2.3%, Bank of Baroda 2%, Indian Bank 1.7%, Union Bank of India 1.5%, Jammu & Kashmir Bank 1.5%, ICICI Bank 1%, Karnataka Bank 1%, Andhra Bank 1%, South Indian Bank 0.9%, Syndicate Bank 1%, State Bank of India 0.8%, Oriental Bank of Commerce 0.7%.

11:50am: Kalyani Steels Ltd rises 5% to `398. The stock gained 115% in last one month.

11:40am: Edelweiss Financial Services Ltd rises 4.7% to `114. The stock gained over 50% in last one month.

11:30am: BSE Sensex is trading lower by 112.31 points, or 0.40%, to 27,964.69, while the Nifty falls 36.20 points, or 0.42%, to 8,630.70.

11:15am: NTPC Ltd rises 0.6% to `167.75 ahead of its June quarter earnings. According to 22 Bloomberg analyst poll, the company may post net profit of `2,361.10 crore while net sales will be at `18,514.40 crore.

11:05am: Shree Renuka Sugars Ltd rises 2% to `16.90 ahead of its June quarter earnings.

10:55am: Aptech Ltd rises 14% to `130.55. The stock gained 87% in last one month.

10:45am: Allcargo Logistics Ltd rises 1.4% to `193.50 ahead of its June quarter earnings. According to 5 Bloomberg analyst poll, the company may post net profit of `78 crore while net sales will be at `1,521.70 crore.

10:35am: Hindustan Petroleum Corp Ltd rises 0.5% to `1,246 ahead of its June quarter earnings. According to 21 Bloomberg analyst poll, the company may post net profit of `1,294.30 crore while net sales will be at `48,472.80 crore.

10:25am: Indraprastha Gas Ltd rises 0.03% to `699.35 ahead of its June quarter earnings. According to 21 Bloomberg analyst poll, the company may post net profit of `118.30 crore while net sales will be at `894.40 crore.

10:15am: Fortis Healthcare Ltd rises 2% to `190.70 while Fortis Malar Hospitals Ltd rises 20% to `68.50. Fortis Healthcare Ltd, a Gurgaon-based healthcare company, on Friday said its board of directors had approved the demerger of its diagnostics arm, including the business unit at subsidiary SRL Ltd, into a fully-owned unit Fortis Malar Hospitals Ltd. The move will separate the company’s diagnostic and healthcare businesses and unlock value for shareholders, said Malvinder Singh, executive chairman, Fortis Healthcare.

10:05am: Oberoi Realty Ltd rises 7% to `318. Oberoi Realty Ltd’s consolidated net profit increased by 33% to `108.88 crore for the quarter ended June. Its net profit stood at `81.93 crore in the year-ago period.

9:55am: ARSS Infrastructure Projects Ltd rises 8% to `83.40 after the company said in a notice to BSE that it got order worth `53.33 crore.

9:45am: Sun TV Network Ltd falls 2.4% to `470.55. The company reported a 19% increase in net profit at `233.1 crore in June quarter against `195.80 crore a year ago. Income from operations stood at `760.8 crore in the reported quarter, up 10.4%, from `689.5 crore in the year-ago period.

9:35am: The 30-share S&P BSE Sensex is currently trading higher by 16.29 points, or 0.06%, to 28,093.29, while the Nifty 50 of the National Stock Exchange (NSE) is trading flat at 0.60 points, or 0.01%, to 8,667.50.

9:30am: Welspun group stocks are trading lower after Bloomberg report said Target Corp. is ending all business with Welspun India Ltd, one of the world’s biggest textile manufacturers, after saying the supplier was sending it phony Egyptian cotton sheets. Welspun India Ltd falls 20% to `82.30, Welspun Corp Ltd falls 6% to `84, Welspun Enterprises Ltd falls 4% to `58.15.

9:25am: The Indian rupee on Monday weakens for the third consecutive session, to hit near-one-month low, at 67.19 a dollar, down 0.20% from its previous close of 67.06, while 10-year bond yield gained, after the government appointed Urjit Patel as the new Reserve Bank of India (RBI) governor.

9:20am: 10-year rupee bond yield is trading at 7.147%, compared with its Friday’s close of 7.102%.

9:15am: The dollar strengthens 0.3% to ¥100.52. The greenback advances 0.2% to $1.1301 per euro.

9:10am: West Texas Intermediate crude slips 0.6% in early Asian trading after surging 9.1% last week. Oil declined after Iraq, Opec’s second-biggest producer, said it will boost oil exports in the next few days amid a glut of supply.

9:05am: The MSCI Asia Pacific Index falls 0.1% to 139 in Tokyo. Japan’s Topix rises 0.4% as the yen dropped after Bank of Japan governor Haruhiko Kuroda said there is “sufficient chance” for more easing in September. South Korea’s Kospi index slips 0.3%. Australia’s S&P/ASX 200 Index falls 0.1%. New Zealand’s S&P/NZX 50 Index climbs 0.3%. Markets in China and Hong Kong have yet to start trading.

9:00am: Asian stocks fall with crude futures as investors weighed the prospects for higher rates in the US, while shares in Japan climbed on speculation for further stimulus.

8:50am: Futures on the S&P 500 Index were little changed. The US equity benchmark index lost 0.1% on Friday as a two-month rally ran out of steam amid signs investors are again growing skeptical of the long-awaited rebound in corporate profits.

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