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Sensex falls 46 points, Nifty above 8,660; SBI rises 4.17%

Livemint logo Livemint 19-08-2016 Livemint

The BSE benchmark Sensex traded lower in a choppy session on Friday, after participants took to profit-booking in key front-line shares of telecom, IT and teck sectors amid mixed Asian cues. While, buying interest was seen in realty, consumer durables, capital goods and banking sectors.

Brokers said sentiment remained positive on the back of persistent capital inflows by foreign funds and widening of positions by retail investors.

Here are the updates: 

3:30pm: The S&P BSE Sensex is down 0.17%, or 46.44 points, at 28,077.00.

3:10pm: The S&P BSE Sensex is down 0.15%, or 40.78 points, at 28,082.66, while the Nifty 50 is down 0.07%, or 6.05 points, at 8,667.20.

Shares of State Bank of India (SBI) rise 4.17%, Tata Steel Ltd’s gain 1.38% and those of Cipla Ltd climb 0.80%.

2:35pm: BSE Sensex is trading lower by 72.16 points, or 0.26%, to 28,051.28, while the Nifty falls 19.40 points, or 0.23%, to 8,655.85.

2:25pm: Vedanta Ltd rises 4% while Cairn India Ltd rises 4.4% on higher volumes. The Securities and Exchange Board of India (Sebi) is investigating an unusual rise in the stocks of Cairn India Ltd and Vedanta Ltd during the run-up to the announcement of revised terms for their merger on 22 Jul, Mint reported.

2:20pm: Max India Ltd rises 9% to `148. The stock gained over 16% in last four consecutive sessions.

2:10pm: Jindal Steel & Power Ltd rises 4% to `89.10. The stock gained over 11% in last five trading sessions. According to ET Now Yamato Steel Said in Advanced Talks to Buy JSPL Stake.

2:00pm: Aptech Ltd rises 8% to hit a five year high of `116.55—a level last seen on 29 July 2011. The stock gained 40% in last eight days and so far this year it gained 73%.

1:50pm: Taj GVK Hotels & Resorts Ltd rises 14% to `139.70 while Indian Hotels Co Ltd rises 3% to `135. According to CNBC report Indian Hotels to merge Taj GVK with itself.

1:40pm: Coal India Ltd fell 1.4% to `333.95. The stock fell 4% in last two trading sessions.

1:30pm: Tata Power Co Ltd rises 1.4% to `78. Tata Power Company Ltd has informed BSE that its South African Joint Venture Company Cennergi announces the commencement of Commercial Operations for its 95 MW Tsitsikamma Community Wind farm (TCWF) Wind Farm Project.

1:20pm: Shalimar Paints Ltd rises 13% to `209.05. The stock gained 36% in last three sessions.

1:10pm: Electrosteel Steel Ltd rises 10% to `3.70. According to CNBC, Lenders of the Electrosteel Steel are in talks with Steel Authority of India to take control management of Electrosteel Steel till new promoters found.

1:00pm: Power companies are trading higher. Torrent Power Co Ltd rises 3.2%, NTPC Ltd 1.2%, Tata Power Co Ltd 1.2%, Reliance Infrastructure Ltd 1.2%, GMR Infrastructure Ltd 1.1%, BHEL 1.1%, Siemens Ltd 1%.

12:50pm: BSE Sensex is trading lower by 59 points, or 0.21%, to 28,064.44, while the Nifty falls 12.80 points, or 0.15%, to 8,660.45.

12:40pm: India Cement Ltd rises 4.8% to `512.15. The stock gained over 8% in last three days. India Cements Ltd on Thursday said its net profit rose 16% in the quarter ended June on back of better operating performance. The cement maker posted a net profit of `44 crore in the April-June period, compared with `37.8 crore a year ago, while the total income from operations declined 1.6% to `1,205.7 crore.

12:30pm: Banking stocks are trading higher. SBI up 3%, Bank of Baroda up 2.2%, Allahabad Bank 1.9%, Karnataka Bank 1.8%, IDBI Bank 1.6%, Syndicate Bank 1.7%, Jammu & Kashmir Bank 1.4%, Andhra Bank 1.3%, Punjab National Bank 1.2%, Central Bank of India 1.2%, Union Bank of India 1%, South Indian Bank 1%, Canara Bank 1%, Oriental Bank of Commerce 0.8%.

12:20pm: BSE MidCap gains 0.5% to high a record high of 13022.13 points. The index gained 3% in the last sixth consecutive sessions.

12:10pm: J Kumar Infraprojects Ltd rises 8% to `135.80. The stock gained 14% in last three trading sessions.

12:00pm: Hindalco Industries Ltd rises 1.6% to `156.70—a level last seen on 4 March 2015. The stock gained 11% in last five trading sessions. Rating firm Motilal Oswal has raised the stock target price to `216 a share.

11:50am: La Opala RG Ltd rises 13% to `605.35 after huge block deal. Around 1.4 million shares or 2.5% stake of the company changed hands in a single block deals. However, buyers and sellers of the deal were not known, according to Bloomberg report.

11:40am: BSE Sensex is trading lower by 13.06 points, or 0.05%, to 28,110.38, while the Nifty is up 1.80 points, or 0.02%, to 8,675.05.

11:30am: Reliance Industries Ltd falls 0.5% to `1,011.55. Reliance Industries Ltd (RIL) on Thursday said the government had disallowed the company from recovering a cost of $380 million relating to its Krishna Godavari basin gas production for 2014-15 for not meeting output targets.

11:20am: Multibase India Ltd rises 3.4% to `286. Multibase SA said in a notice to BSE that it offered to acquire 3.16 mn Multibase India shares via open offer.

11:10am: Sun TV Network Ltd rises 0.03% to `484.50 ahead of its June quarter earnings. According to 11 Bloomberg poll estimates, the company may post net profit of `228.80 crore while net sales will be at `744.60 crore.

11:00am: National Fertilizers Ltd rises 0.6% to `33.80 ahead of its June quarter earnings.

10:50am: Oberoi Realty Ltd rises 0.4% to `305.50 ahead of its June quarter earnings. According to 8 Bloomberg poll estimates, the company may post net profit of `72.28 crore while net sales will be at `238.70 crore.

10:40am: Jubilant Industries Ltd rises 13% to `242. The stock gained 36.3% in last three days.

10:30am: Oil equipment companies are trading higher on the back of higher volumes. GOL Offshore Ltd rises 3% to `42.4, Aban Offshore Ltd rises 4.7% to `223.95, Dolphin Offshore Enterprises India Ltd rises 3.5% to `91.50.

10:20am: Shipping Corp of India Ltd falls 6.4% to `69.50. The company posted a net profit of `55.91 crore for June quarter down 72.6% from `203.78 crore a year ago. Total income fell 21.67% to `875.94 crore.

10:10am: Dilip Buildcon Ltd rises 2% to `246.95. Dilip Buildcon on Thursday said it has bagged a road project worth `2,016 crore in Uttar Pradesh. The National Highways Authority of India has declared the company as the selected bidder for four-laning of the Lucknow-Sultanpur section of NH-56 from 11.50km to 134.70km in Uttar Pradesh on hybrid annuity basis, the recently-listed firm informed the exchanges.

Live: Sensex, Nifty trade flat; SBI rises 3%: Photo: Hemant Mishra/Mint© LiveMint Photo: Hemant Mishra/Mint

10:00am: Paint companies are trading higher. Berger Paints India Ltd rises 1.4%, Kansai Nerolac Paints Ltd rises 1.3%, Shalimar Paints Ltd rises 12%.

9:50am: Sugar stocks are trading higher. Balarampur Chini Mills Ltd rises 2%, Mawana Sugars Ltd 10%, Dwarikesh Sugar Industries Ltd 3.4%, Andhra Sugars ltd 1.6%, Bajaj Hindusthan Sugar Ltd 1.4%, Dalmia Bharat Sugar and Industries Ltd 1.2%, Oudh Sugar Mills Ltd 5%, Eid Parry India Ltd 1%.

9:40am: The 30-share S&P BSE Sensex is currently trading lower by 9.85 points, or 0.04%, to 28,113.59, while the Nifty 50 of the National Stock Exchange (NSE) falls 7.70 points, or 0.09%, to 8,665.55.

9:35am: State Bank of India is up 3.1%, State Bank of Mysore falls 8.2%, State Bank of Bikaner & Jaipur rises 3.2%, State Bank of Travancore rises 7%. SBI approved the share swap ratio for merging three associates—State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM) and State Bank of Travancore (SBT)—and BMB. Swap ratios for State Bank of Hyderabad and State Bank of Patiala were not announced.

9:30am: The Indian rupee on Friday weakens for the second consecutive session against the US dollar at 66.95 a dollar, down 0.22% from its previous close of 66.81, tracking losses in the Asian currencies markets. Traders remained cautious ahead of the announcement of a new governor for the Reserve Bank of India (RBI) expected anytime now.

9:25am: The 10-year rupee bond yield is trading at 7.148%, a level last seen on 9 August, compared with its Thursday’s close of 7.143%.

9:20am: The yen stabilized, with the dollar strengthening to ¥100.31 after the Japanese currency broke below the 100-yen mark earlier. The euro slips to $1.1330 from $1.1345.

9:15am: Oil futures steadied after a big bounce. Benchmark US crude rises 8 cents to $48.30 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude slips 3 cents to $50.92 a barrel in London after jumping 2% the day before.

9:10am: Japan’s benchmark Nikkei 225 index edges 0.1% lower to 16,474.67 while South Korea’s Kospi dips 0.1% to 2,053.58. Hong Kong’s Hang Seng sheds 0.5% to 22,903.57 and the Shanghai Composite Index retreats 0.5% to 3,086.77. Australia’s S&P/ASX 200 adds 0.2% to 5,518.30. Benchmarks in Taiwan and Thailand fall while in those in Singapore, Indonesia and New Zealand rise.

9:00am: Most Asian stock benchmarks drifted lower on Friday as investors hunkered down to mull resurgent oil prices and corporate earnings while awaiting a key speech by the Fed chief next week.

8:50am: Major US benchmarks ended slightly higher. The Dow Jones industrial average ticked up 0.1% to 18,597.70. The Standard & Poor’s 500 added 0.2% to 2,187.02. The Nasdaq composite rose 0.2% to 5,240.15.

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