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Sensex ends flat; Bharti Airtel falls on Reliance Jio launch

Livemint logo Livemint 01-09-2016 Livemint

The benchmark BSE Sensex and NSE Nifty ended flat on continued buying by foreign funds and retail investors even as economic growth slowed to 7.1% in the April-June quarter.

Indian economy grew at the slowest pace in last six quarters at 7.1% in the April-June period of current fiscal mainly on subdued performance of mining, construction and farm sectors. Brokers said widening of positions by retail investors, triggered by sustained foreign fund inflows and significant purchases by domestic financial institutions in the past few sessions buoyed sentiments here.

Here are the updates:

3:35pm: BSE Sensex ended lower by 28.69 points, or 0.10%, to 28,423.48.

2:45pm: BSE Sensex is trading higher by 59.66 points, or 0.21%, to 28,511.83, while the Nifty gains 14.15 points, or 0.16%, to 8,800.35.

2:30pm: The rupee on Thursday is trading little changed against the US dollar at 66.97 per dollar, down 0.01% from its previous close of 66.96, ahead of the US Payroll data on Friday.

2:15pm: Arvind Ltd rises 4% to `323.05. According to Times of India report the company planning to raise `900 crore by selling a 15% stake in its arm Arvind Lifestyle Brands.

2:00pm: Dilip Buildcon Ltd rises 1.4% to `240.25. The company said it got new project from West Bengal under EPC Mode worth `613.08 crore.

1:45pm: Kalindee Rail Nirman Engineers Ltd falls 0.3% to `118.90 ahead of its June quarter earnings.

1:30pm: Ballarpur Industries Ltd falls 0.5% to `14.29 ahead of its June quarter earnings. According to Bloomberg analyst estimates, the company may post net loss of `1.87 crore while net sales will be at `1,196 crore.

1:15pm: Bharat Petroleum Corp Ltd falls 1.3% to `594.45. State-run Bharat Petroleum Corp. Ltd (BPCL) Wednesday said net profit rises 11% in the June quarter, aided by higher product prices and inventory gains. BPCL, India’s third largest oil refiner and marketer, posted a net profit of `2,620.5 crore during the quarter, against `2,360.6 crore a year ago. Total income fell to `57,015.75 crore, down 3%, against `58,818.37 crore a year ago

1:05pm: Maruti Suzuki India Ltd falls 0.2% to `5,042.40. Maruti Suzuki India said its sales for the August month rose 12.2% to 132211 units from `117,864 units a year ago.

12:55pm: Welspun India Ltd rises 3.4% to `50.50 after the huge block deal. Around 1.6 million shares of the company changed hands in a single block deal. However, buyers and sellers of the deals were not known, according to Bloomberg report.

12:40pm: Aegis Logistsics Ltd rises 2.3% to `134 after the huge block deal. Around 6.68 million shares or 2% stake of the company changed hands in a single block deal. However, buyers and sellers of the deals were not known, according to Bloomberg report.

12:30pm: Shares of gems and jewellery companies are trading higher. Titan Co Ltd rises 1.2%, PC Jeweller Ltd 3.7%, Gitanjali Gems Ltd rises 2.8%, Tribhovandas Bhimji Zaveri Ltd rises 2.1%

12:15pm: BSE Sensex is trading higher by 1.92 points, or 0.01%, to 28,454.09, while the Nifty falls 2.15 points, or 0.02%, to 8,784.05.

12:00pm: Reliance Jio Infocomm Ltd, the telecom unit of Reliance Industries Ltd, kicked off it’s services with an aggressive announcement by company chairman Mukesh Ambani at its 42nd annual general meeting in Mumbai on Thursday.

Bharti Airtel Ltd falls 9%, Idea Cellular falls 8.7%, Reliance Communications Ltd falls 6.5% while Reliance Industries Ltd rises 0.6%

11:50am: Uniply Industries Ltd rises 3.2% to `252. A manufacturer of plywood, laminates and related products, has acquired Vector Projects, an architecture, design and interior fit out company to provide end-to-end building solutions, said a media report.

11:40am: Power Mech Projects Ltd rises 3.2% to `475. The company reported marginal rise in the net profit to `16.60 crore for the quarter ended June 30 compared with `15.90 crore reported in the year-ago period

11:30am: Indo Rama Synthetics India Ltd falls 12% to `34.35 after the company said it reported a net loss of `16.56 crore in June quarter against net profit of `5.86 crore a year ago.

11:20am: Tata Power Co Ltd rises 2% to `79.70. The Javelin Joint Venture team, a partnership between Raytheon Company and Lockheed Martin, signed a letter of intent with Tata Power Company operating through its strategic engineering division, to explore co-development and production of the Javelin anti-armour missile system.

11:10am: Apollo Hospitals Enterprise Ltd rises 1% to `1,362 ahead of its June quarter earnings. According to 5 Bloomberg analyst estimates, the company may post net profit of `88.15 crore while net sales will be at `1,453.90 crore.

11:00am: KEC International Ltd rises 5% to `141.90 after the company said in a notice to BSE that it got orders of `1,224 crore.

Live Sensex, Nifty: Markets trade flat on weak Asian cues; NDTV rises 12%: Photo: HT© LiveMint Photo: HT

10:50am: C&C Constructions Ltd rises 10% to `17.95 after the company said it has been awarded a project by Power Grid Corporation of India Ltd. for Transmission line package TW01 for 400 KV D/C Mohindergarh- Bhiwani Transmission Line including Supply of Conductor insulators associated with Northern Region Strengthening Scheme XXXV. The Contract value of the project is `73.61 cr.

10:40am: Hathway Cable & Datacom Ltd falls 2.2% to `29.55 after the company said its net loss for the June quarter widened to `53.20 crore from `37.38 crore a year ago. Total income rose 16.77% to `304.49 crore.

10:30am: Hindustan Construction Co Ltd rises 15.3% to `31.70. The stock is up over 35% in last two days. The stock is reaction on news that the government would pay 75% of the pending amount in disputed projects where the arbitration was in their favour. HCC would be the biggest beneficiary from this move. The firm reportedly has about `3,000 crore outstanding in its favour from legacy infrastructure projects. Worse, given that the amount has been outstanding for some years now, it has increased working capital needs and interest costs, which in turn have weighed on profit.

10:20am: Cement stocks trading lower after the Competition Commission of India (CCI) confirmed penalties of about `6,700 crore on 11 cement firms and one Cement Manufacturers Association for cartelization. ACC Ltd falls 1.5%, Ultratech Cement Ltd 1.1%, Ambuja Cement Ltd 1.5%, Shree Cement Ltd 0.6%, JK Cement Ltd 2.2%,

10:10am: Reliance Industries Ltd falls 0.3% to `1,055 ahead of its annual general meeting due later today.

9:58am: The 30-share S&P BSE Sensex is currently trading lower by 14.81 points, or 0.05%, to 28,437.36, while the Nifty 50 of the National Stock Exchange (NSE) falls 4.45 points, or 0.05%, to 8,781.75.

9:50am: New Delhi Television Ltd rises 12.5% to `95.65 after huge block deal. Around 2.85 million shares or 4.4% stake of the company changed hands in a single block deal. However, buyers and sellers of the deal were unknown, according to Bloomberg report. The stock is up 22% in last four days.

9:45am: Data released by the Central Statistics Office (CSO) shows gross domestic product (GDP) grew 7.1% in the first quarter of the fiscal year, against 7.9% in the preceding three months, the fourth quarter of 2015-16.

9:35am: The 10-year bond yield is trading at 7.103%, compared with its Wednesday’s close of 7.109%.

9:30am: The rupee opened weaker but soon erased most of its losses and was trading little changed against the US dollar in opening trade and is trading at 66.99 per dollar, down 0.03%, from its previous close of 66.96.

9:20am: The dollar is down 0.3% at ¥103.10, after rising as high as 103.54 on Wednesday, its highest since July 29. The euro is steady at $1.1162.

9:15am: Oil’s slump below $45 a barrel weighed on Asian equities and helped drag Malaysia’s ringgit to a two-month low, while Australia’s dollar and copper advanced after data indicated a pickup in Chinese manufacturing.

9:10am: The MSCI Asia Pacific excluding Japan Index falls 0.5%, headed for its lowest close in almost four weeks. Japan’s Topix index adds 0.4% and Singapore’s Straits Times Index rises 0.1%, the only benchmarks to advance in the region. Taiwan’s Taiex index led losses with a 0.9% drop. Hong Kong’s Hang Seng Index falls 0.4% and the Hang Seng China Enterprises Index slips 0.6%. The Shanghai Composite Index is down 0.1%.

9:00am: Asian shares dips on Thursday after lower crude oil prices dented Wall Street and a pair of Chinese manufacturing surveys did little to inspire investors as markets waited to see if US employment data could put the Federal Reserve on track to hike interest rates.

8:50am: Stocks ended lower on Wall Street on Wednesday, as energy shares tracked oil prices lower, and the S&P posted a loss for August, the first negative month for the benchmark index since February. The Dow Jones industrial average fell 53.42 points, or 0.29%, to 18,400.88, the S&P 500 lost 5.17 points, or 0.24%, to 2,170.95 and the Nasdaq Composite dropped 9.77 points, or 0.19%, to 5,213.22.

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