The BSE Sensex and NSE Nifty opened in red on Tuesday tracking weak global markets. Sensex opened 41.69 points down at 25488.42. Nifty opened 26.90 points down at 7,738.50.
10.55 am: Meanwhile, IPOs of Dr Lal Pathlabs and Alkem Laboratories hit market on Tuesday and will close on December 10 (Thursday). Alkem Laboratories has raised Rs 395 crore from anchor investors, including Abu Dhabi Investment Fund, by allotting shares at a price of Rs 1,050. Diagnostic chain Dr Lal PathLabs on Monday raised over Rs 191 crore from anchor investors by selling shares at a price of Rs 550 apiece.
10.39 am: Due to heavy rains and flooding in Chennai, both of Royal Enfield’s production facilities in Thiruvottiyur and Oragadam were shut since the 1 of December 2015. Eicher Motors in a release said, “We resumed production of motorcycles on December 7, 2015. However, due to a high rate of absenteeism by our employees, and issues with our local suppliers – we will be running at approximately 50 per cent capacity this week, and plan to be back up to 100 per cent capacity by next week.” The share price of Eicher Motors was trading 1.09 per cent up at Rs 16,405. The BSE Auto index was up 0.40 per cent at 18516.23. Sensex was down 70 points at 25,460. NSE Nifty was down 16 points at 7,749.40.
10.32 am: Brokers said sentiment took a hit on sustained foreign fund outflows and a weak trend in other Asian markets, tracking overnight losses in the US after oil sank to a seven-year low as OPEC decided not to slash output. Sensex was down 41 points at 25,489.
10.16 am: Infosys on Monday said that it will expand its operations in Ireland and intends to create 250 new jobs over the next three years in the country. The share price of the IT major was trading 1.21 per cent up at Rs 1,058.95. Nifty50 index was down 9.20 points at 7756.20. Sensex was down 39.89 points at 25,490.
9.45 am: The rupee was trading lower by 10 paise at 66.83 against the dollar in early trade on sustained
foreign fund outflows amid increased demand for the US currency from importers.
9.32 am: ITC’s step-down subsidiary – Greenacre Holdings (GHL) has acquired 87.06 per cent of the equity share capital of Classic Infrastructure & Development (CIDL) at an aggregate consideration of Rs 11.38 crore. CIDL is an associate of Russell Credit (RCL). GHL is a wholly owned subsidiary of RCL, which a wholly owned subsidiary of ITC. CIDL having become a wholly owned subsidiary of GHL and of RCL and it has also become a wholly owned subsidiary of ITC with effect from December 07, 2015. The share price of ITC was trading 0.56 per cent up at Rs 315.30.
9.28 am: Future & Option (F&O) total turnover stood at 1,23,221.52 crore on December 07 and the total number of contracts traded on the day were 21,63,234. Of the total turnover, Index Futures contributed Rs 8,530.32 crore, Stock Futures Rs 18,008.97 crore and Index Options Rs 86,596.79 crore, while the contribution of the Stock Options was of Rs 10,085.43 crore. For the day, the total F&O PutCall ratio stood 0.68 while Index Options PutCall ratio was 0.70 and that of Stock Options was 0.52. The top five scrips with highest PCR on OI were UCO Bank (1.68), HCL Tech (1.24), Lupin (1.23), KSCL (1.23) and STAR (1.19).
9.16 am: Sensex was down 99 points at 25,431.22. Shares of oil producers will be in focus on Tuesday due to falling crude oil prices and OPEC decision against slashing high output levels. Reliance Industries, Cairn India and ONGC fell 1.25 per cent, 2.62 per cent and 1.54 per cent, respectively, on Monday. Cairn India was trading 2.10 per cent down at Rs 133.
9.15 am: The BSE Sensex and NSE Nifty opened in red on Tuesday tracking weak global markets. Sensex opened 41.69 points down at 25,488.42. Nifty opened 26.90 points down at 7,738.50.
Asian stock markets teetered near their weakest levels in three weeks on Tuesday, as a rout in oil prices to near seven-year lows knocked global energy company shares and commodity currencies. Hang Seng, Nikkei and Shanghai were down 1.89 per cent, 1.03 per cent and 1.43 per cent, respectively.
The plight of oil market hit energy shares on Wall Street hard. S&P 500 lost 0.7 per cent to 2,077.07, led by 3.7 per cent decline in the S&P energy sector energy index.
Global oil benchmark Brent crude futures dropped 5.4 per cent to $40.66 per barrel on Monday, after the Organization of the Petroleum Exporting Countries’ (OPEC) policy meeting on Friday ended without an agreement to lower production. Keeping production at near record levels in an oversupplied market has spooked investors grappling with reduced demand from China, the world’s biggest energy consumer.
Back home, the benchmark BSE Sensex on Monday slipped by 108 points to close at a three-week low of 25,530.114 led by a fall in ITC after a GST panel suggested 40 per cent tax rate for demerit goods like pan masala and tobacco. The index is on a downward spiral since Wednesday on sustained foreign fund outflows and has lost 639.30 points since.
(With agency inputs)
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