The BSE Sensex and NSE Nifty opened in red on Friday tracking weak global markets. (Photo: PTI)
10.19 am: A weak trend in other Asian markets in line with heavy losses in Europe and the US after commodity prices plunged to multi-year lows on worries that softer global growth may exacerbate the supply glut also weighed on the sentiment here. Out of 1,979 stocks traded on the BSE, 1,238 have declined and 633 advanced so far.
10.07 am: Sensex was down 238 points at 25,628. Brokers said market mood took a hit after a government data showed that industrial production fell to a four-month low of 3.6 per cent in September due to subdued performance by manufacturing and non-durable consumer goods segments. Adding to the gloom was inflation, which rose for a third straight month and touched 5 per cent in October.
9.56 am: The rupee appreciated by 11 paise to 66.20 against the US dollar in early trade on Friday on increased selling of the American currency by exporters.
9.30 am: Jet Airways shares gained over 1 per cent in the early trade on Friday after the company on Thursday informed BSE that it will upgrade its daily flights between Delhi and Singapore to an Airbus A330, from 25th of this month.
9.19 am: Sensex was down 227.50 points at 25639.45. Meanwhile, BSE received an update from the promoters of Essar Ports in relation to the proposed delisting of the equity shares of the company. The discovered price pursuant to tendering in the reverse book builiding process in terms of Delisting regulations is Rs 133 per equity share (Exit price). Shares of Essar Ports were trading 1.33 per cent up at Rs 129.35 in the early trade on Friday.
9.15 am: The BSE Sensex and NSE Nifty opened in red on Friday tracking weak global markets. Sensex opened 142.86 points down at 25,724.09. Nifty opened 62.55 points down at 7,762.45.
Asian shares looked vulnerable on Friday after commodity prices plunged to multi-year lows on worries that softer global growth may exacerbate the supply glut, while US Federal Reserve officials kept beating the drum for a rate hike next month.
Wall Street also suffered its worst session in over a month on Thursday as lower commodity prices weighed on energy and materials stocks and comments by a Federal Reserve policymaker hinted at an approaching interest-rate hike.
Back home, metal and oil & gas stocks are likely to be under pressure on Friday due to fall in global commodity prices.
Companies such as Kaveri Seed, BGR Energy, Shipping Corporation, Wockhardt, CESC, Hindustan Dorr-Oliver, GMR Infra, EID Parry, IVRCL, J&K Bank, Jindal Saw, Mcnally Bharat Eng, MMTC and Nectar Lifescience may announce their results on Friday.
The first trading session of Samvat year 2072 ended on a positive note on Wednesday with the benchmark BSE Sensex rising 124 points and the NSE Nifty regaining the 7,800-mark, snapping a five-day long losing streak.
In special Muhurat one-hour trading session, the Sensex recovered by 123.69 points, or 0.48 per cent, to close at 25,866.95. Intra-day, the gauge hit session’s high of 25,944.93 and a low of 25,853.42. The gauge had lost 847.33 points in the past five sessions.
On similar lines, the broad-based National Stock Exchange index Nifty regained the psychological 7,800-mark by rising 41.65 points, or 0.54 per cent, to end at 7,825 after touching the session’s high of 7,847.95 and a low of 7,819.10.
(With inputs from agencies)
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