Markets are likely to remain volatile throughout the day as the September F&O series will expire on Thursday and traders will be adjusting their positions. (Photo: PTI)
12.14 am: Hindustan Construction Company (HCC) on Thursday said it has bagged a Rs 1,783.42-crore contract from NHAI for construction of a highway in Jammu & Kashmir (J&K). Cheering the news, the share price of the company jumped 2.52 per cent at Rs 18.30. Sensex was down 21 points at 25,802. Nifty was up 4 points at 7,850.82.
11.46 am: Brokers said squaring-up of positions by participants with Thursday being the last trading session of the September derivatives expiry and a weak trend at other Asian bourses following overnight losses on the Wall Street as weak Chinese and US factory data added to growth worries dampened sentiment. Sensex and Nifty were down 0.25 per cent and 0.12 per cent at 25,757 and 7,836, respectively.
11.28 am: Strides Arcolab shares gained over 3 per cent intra-day on Thursday after Jefferies, a global investment banking firm, inititated coverage with a ‘buy’ rating with a target price of Rs 1,500 per share. The scrip was trading 3.47 per cent higher at Rs 1,258. The BSE Healthcare index was up 1 per cent at 17,660.37. On the other hand, Sensex was down 89 points at 25,733. Nifty was down 17.40 points at 7,828.
11.04 am: NIIT shares gained over 4 per cent in the morning trade on Thursday following the company’s plan to establish European Delivery Centre in Dublin, creating 110 jobs over five years. The development is supported by the Department of Jobs, Enterprise and Innovation through IDA (Industrial Development Agency) Ireland. The scrip was up 4.82 per cent at Rs 72.80.
10.40 am: Investors failed to get any sense of relief with chief economic adviser Arvind Subramanian’s statement that India does not need further fiscal stimulus to revive the economy, despite record low inflation and growth seen at the lower end of an 8.1-8.5 per cent target this financial year. The markets are likely to remain volatile ahead of the expiry of the derivative contracts for the September series due later today. Traders were seen piling up position in consumer durables, healthcare, IT, TECk and realty, while selling was witnessed in metal, capital goods, power, PSU and oil & gas. Sensex was down 56 points at 25,766. Nifty was down 7.25 points at 7,838.70
10.18 am: Elder Pharmaceuticals shares surged as much as 16.41 per cent in the early trade on Thursday after the company informed BSE that it is mulling options to sell its overseas subsidiaries. The scrip was trading 12.30 per cent up at Rs 113.25. Sensex was down 65 points at 25,763.
9.50 am: Extending weakness for the fourth straight day, the rupee fell further 24 paise to 66.22 against the US dollar in early trade on sustained month-end demand for the American currency overseas amid foreign fund outflows. The BSE IT index and BSE Healthcare index were up
9.40 am: As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs 1,330.12 crore on September 23. Domestic institutional investors bought shares worth Rs 891.36 crore. Sensex was down 88 points at 25,734.99.
9.34 am: Balmer Lawrie & Company informed stock exchanges on Wednesday (post market hours) that it will be investing Rs 400 crore in its logistics infrastructure business in the next 24-36 months. The company will be setting up Multi-modal Logistics Hub at Vizag, a project under the MoU signed with Visakhapatnam Port Trust. The share price of Balmer Lawrie & Company was trading 0.45 per cent up at Rs 566.35. Sensex was down 58 points at 25,765. Nifty was down 11 points 7,834.95.
9.16 am: Sensex was down over 100.98 points at 25722.01. Shares of Lupin, Bajaj Auto, Dr Reddy’s Laboratories were trading in green in the opening trade. However, Larsen & Toubro and Reliance were down over 1 per cent.
Domestic equity markets opened on a flat note with negative bias on Thursday tracking Asian markets. Sensex opened 24.94 points down at 25,798.05. Nifty opened 7.55 points down at 7,838.40.
Markets are likely to remain volatile throughout the day as the September F&O series will expire on Thursday and traders will be adjusting their positions.
NIFTY FUTURE OI added open interest by 42 per cent in the entire September series with a fall in price by 1.30 per cent at 7,846 levels. Chandan Taparia, derivatives and technical analyst, Anand Rathi, said, “Put Call ratio is hovering near to 0.95 levels which indicates that bulls are supporting the market on declines as sustain put writing seen at lower strikes.”
India VIX is down by 6 per cent in this series and fell down from previous series high of 35.57 to 20.68 levels. “Volatility may remain high till RBI policy meet but recent fall in VIX is giving comfort to bulls to process for a short term bottom in the market,” said Taparia.
Rollover: Jubilant FoodWorks, JSW Steel, M&M Fin, RCom, Aurobindo Pharma, UBL, IDBI, TCS, GAIL are top in stocks rollover. Telecom, metals, fertilisers, infrastructure, textile, banking, pharma, capital goods and realty stocks are top in sector wise rollover.
Global Markets
New York: US. stocks ended down slightly on Wednesday, led by losses in materials and energy shares as weak Chinese and US factory data added to growth worries.
London: Britain’s top equity index recovered on Wednesday from a slump in the previous session, as rising oil prices led to gains by energy stocks.
Tokyo: Japan’s Nikkei share average fell on Thursday as Japanese markets reopened after a three-day national holiday to face news of weak Chinese and US factory performance.
Hong Kong: The Hang Seng Index down 0.8 per cent.
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