The BSE Sensex and NSE Nifty opened in red on Tuesday tracking weak global cues. Sensex opened 27.31 points down at 26,094.09. (Express photo by Heena Khandelwal)
2.17 pm: Cox & Kings owned Meininger Hotels has signed an agreement for the Meininger Hotel in Spain, which will be located on Gran Via in the south-west part of the city. The 186 room and 682 bed hotel is scheduled to open by the end of 2018. The proposed hotel is ideally located in an important area of Barcelona at a main avenue of the city and connected to the city centre as well as the airport by good access to public transportation. The share price of the company was 2.06 per cent at Rs 253. Sensex was down 188 points at 25,933.
1.43 pm: GVK Power & Infrastructure’s consolidated net loss narrowed to Rs 123.5 crore during the quarter ended September 30, on higher income from operations particularly power and airports segments. The company posted net loss of Rs 235.57 crore for the quarter ended September 30, 2014. Shares of GVK Power was up 4.22 per cent at Rs 7.90. The scrip opened at Rs 7.61 and had touched a high and low of Rs 8.19 and Rs 7.52, respectively, in trade so far. Sensex was down 254 points at 25,867.
1.32 pm: Meanwhile, National Buildings Construction Corporation has informed BSE that the All India Institute of Medical Sciences (AIIMS) has conveyed its intent to entrust the work for development of JPN Trauma Centre Campus at AIIMS to NBCC. The share price of NBCC was up 0.34 per cent in the afternoon trade. Sensex was down 266 points at 25,855.
1.28 pm: The Indian government is planning to sell a 5 per cent stake in state-run Container Corp, a notice seeking interest from investment banks to manage the sale worth about $200 million at current market price showed. The government, which owns 61.8 per cent of Container Corp, will sell the stake through a stock market auction. The share price of Container Corporation was up 1.46 per cent at Rs 1,421.
1.18 pm: Tata Steel has joined hands with a leading UAE-based petrochemical company, aimed at broadening its market base for energy sector products in the Middle East. Recognising the need to have local representation in Abu Dhabi, Tata Steel has announced collaboration with International Development Company (IDC) which will support it in obtaining national oil company approvals, that are required in the region.
The share price of Tata Steel was trading 1.96 per cent down at Rs 217.80. Sensex was down 230 points at 25,981.
1.11 pm: Shares of Hindustan Petroleum Corp Ltd (HPCL) was down over 5 per cent after the firm reported a net loss of Rs 320.50 crore for the July-September quarter.
12.40 pm: Sensex was down 250 points at 25,870. In the 30-share index, Bajaj Auto, Hero MotoCorp and Axis Bank were up 1.99 per cent, 1.33 per cent and 1.12 per cent, respectively.
11.59 am: Shares of Gammon Infrastructure gained as much as 10 per cent in the morning trade on Tuesday after the company informed BSE that its wholly owned subsidiary – Pravara Renewable Energy (PREL), has completely synchronized its 30MW bagasse based cogeneration power project at Pravaranagar, Ahmednagar district in the state of Maharashtra on November 06, 2015 and started the commercial production of electricity and export of power to state grid.
11.39 am: Brokers said sentiments remained bearish on sustained foreign fund outflows and a weak trend at other Asian markets, tracking overnight losses at the US markets as poor Chinese data and a fall in crude oil prices weighed on the market. Nifty 50 index was down 51.45 points at 7,863.
11.32 am: NHPC shares jumped over 3 per cent on Tuesday after the company on Monday posted a 72.62 per cent jump in its net profit in the September quarter, even as the company announced it is in talks with private firms to buy stake in hydro-power projects in Arunachal Pradesh. Sensex was down 150 points at 25,970.
10.53 am: Shares of Oil and Natural Gas Corp (ONGC) was down around 4 per cent on Tuesday. ONGC on Friday reported a 11 per cent drop in September quarter net profit as slumping global crude prices hurt its revenues. Net profit in the July-September quarter at Rs 4,842.02 crore was 11 per cent lower than Rs 5,444.89 crore clocked in the same period of last fiscal.
10.41 am: Meanwhile, Havells India reported 0.93 per cent rise in its net profit at Rs 120.72 crore for the quarter ended September 30, 2015 as compared to Rs 119.61 crore for the same quarter in the previous year. However, the company’s total income has decreased by 1.24 per cent to Rs 1,359.41 crore for the quarter under review from Rs 1,376.54 crore for the corresponding quarter of the previous year. The share price of the company was down 0.12 per cent at Rs 258.
10.10 am: InterGlobe Aviation, which runs no-frills carrier IndiGo, made a strong debut on the bourses on Tuesday at an opening price of Rs 856 on BSE and Rs 855.80 on NSE. The shares surged over 15 per cent against the issue price of Rs 765 in the early trade. Sensex was down 148 points at 25,972.
9.55 am: Among other Asian markets, Hong Kong’s Hang Seng was down
0.85 per cent, while Japan’s Nikkei shed 0.75 per cent in early trade today. Shanghai Composite index dropped 0.81 per cent.
9.41 am: The rupee rose by 5 paise at 66.39 against the US dollar in early trade today on fresh selling of the American currency by exporters.
9.34 am: Leading diagnostic chain Dr Lal PathLabs has received market regulator Sebi’s approval to raise funds through an initial public offering (IPO). The company filed its Draft Red Herring Prospectus (DRHP) with Sebi on September 14 for the IPO, herein the promoters and other existing shareholders will collectively sell 1.16 crore shares of the company amounting to 14.1 per cent stake. Sensex was down 128.40 points at 25,993.
9.23 am: Sensex was down 143 points at 25,978. Nifty was down 40.35 points at 7,874. InterGlobe Aviation, which runs no-frills carrier IndiGo, will list its shares on the stock exchanges on Tuesday. The equity shares would be listed on the National Stock Exchange (NSE) as well as BSE. The company has raised Rs 3,008.5 crore at issue price of Rs 765 per share from its recently concluded, over-subscribed initial public offering (IPO).
9.15 am: The BSE Sensex and NSE Nifty opened in red on Tuesday tracking weak global cues. Sensex opened 27.31 points down at 26,094.09. Nifty opened 37.60 points down at 7,877.60.
Asian shares slipped to one-month lows on Tuesday as the spectre of higher borrowing costs in the United States and slower global economic growth prompted investors to trim their exposure to riskier assets.
Back home, the BSE Sensex staged a spectacular recovery from over 600-point deficit logged in early trade on Monday, but settled 144 points lower at 26,121.40 on BJP-led NDA’s defeat in Bihar assembly polls.
Vinod Nair, head, fundamental research, Geojit BNP Paribas Financial Services, said, “The market has been volatile with a negative bias as the Bihar election results influenced the sentiments of investors on Monday. This impact may be short lived as the market recovered from its low of 7,771 to close at 7,915. Going forward, the market is likely to focus on policy reforms and global events like US FED policy & Chinese data.”
Indian rupee extending it weakness for the third straight day on Monday depreciated substantially against dollar on strong demand for American currency from banks and importers, amid sharp surge in dollar globally on data showing a stronger-than-expected rise in US non-farm payrolls in October. Besides, sell-off in the equity market also hit the rupee sentiment. The Indian rupee slumped to over 1-month low. This is the lowest level of the rupee since September 16 when it had hit 66.51. Finally, the rupee ended at 66.44, 68 paise weaker from its previous close of 65.76 on Friday.
Stock markets will remain closed on Wednesday and Thursday for Diwali Laxmi pujan and Diwali Balipratipada, except for a one-hour Muhurat trading on Wednesday evening. Both the stock exchanges, Bombay stock Exchange (BSE) and National Stock Exchange (NSE), will conduct a special Muhurat Trading session on account of Diwali on November 11. Trading would be conducted between 5.45 pm and 6.45 pm on the day.
(With inputs from agencies)
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