The BSE Sensex and NSE Nifty opened in red on Monday tracking weak global markets. (Photo: PTI)
9.59 am: Meanwhile, S H Kelkar stocks listed on BSE and NSE. Shares of S H Kelkar opened at a premium of 23 per cent from its issue price of Rs 180 per share. The scrip opened at Rs 222 on BSE and at Rs 223.70 on NSE.
9.44 am: The rupee weakened by 9 paise to 66.19 against the dollar in early trade, snapping its two-day winning run, on fresh demand for the US unit from importers.
9.28 am: The government has kick-started the process of disinvesting 5 per cent more in Container Corporation of India (Concor). The Department of Disinvestment has invited bids from merchant bankers to take forward the proposal to disinvest an additional 5 per cent in the Navaratna public sector unit. The government holds 61.8 per cent in Concor, the only listed public sector unit of the Railway Ministry. Concor, which was started in 1988 as the only firm with the right to move container trains, now operates in a competitive environment, but still holds over 70 percent of the containerized rail market. The share price of the company was down 0.44 per cent in the early trade.
9.18 am: Sensex was down 105.62 points at 25,504.91. Shares of Bhushan Steel will remain in focus on Monday as the company has received an approval for sale and lease back arrangements of Cock Oven Plant -I and Oxygen Plant -V of the company situated at integrated steel plant, Meramandali in state of Orissa. The board of directors at their meeting held on November 14, 2015 has given an approval for the same. Shares of Bhushan Steel were trading up over 2 per cent in the early trade.
9.15 am: Domestic equity markets opened in red on Monday tracking weak global markets. Sensex opened 30.38 points down at 25,580. Nifty opened 29.30 points down at 7732.95.
Asian stocks were hit by a sell-off early on Monday, with sentiment badly dented by Friday’s brutal terrorist attacks in Paris. US stocks snapped a six-week winning streak as retail shares tumbled on weak earnings and economic data.
As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs 746.7 crore on Friday. Domestic institutional investors bought shares worth Rs 70.89 crore on that day.
Jindal Steel and Power (JSPL) plans to cut costs and divest some non-core assets, as it swung to a second-quarter loss due to a drop in iron and steel sales and a one-time charge linked to an overseas unit. Steelmakers including Tata Steel, JSW Steel and Jindal Steel have seen sales dented in the past few quarters due to rising imports from China, Japan, South Korea and Russia. JSPL registered a consolidated loss of 6.2 billion rupees ($94 million) in the September quarter, compared with a profit of 4.4 billion rupees in the year-ago period.
The benchmark BSE Sensex on Friday declined by 256.42 points to a two-month low of 25,610.53 on bearish macroeconomic data even as muted global cues continued to rile domestic investors. This was the sixth fall in last seven sessions.
Nifty 50 index lost 62.75 points, or 0.80 per cent, at 7,762.25 on Friday.
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