The BSE Sensex and NSE Nifty opened on a weak to cautious note on Wednesday tracking global markets. Sensex opened 10.99 points down at 25,299.34. Nifty opened 6.20 points down at 7695.50. (Express Photo)
9.32 am: The share price of Bharti Airtel was down 2.20 per cent at Rs 310.70. Airtel will launch 4G services in Rajasthan within a few days and cover other important cities in next six months.
9.26 am: Shares of NBCC were trading marginally up 0.59 per cent at Rs 950.65. The state-owned real estate firm on Tuesday that it has bagged projects worth Rs 192.74 crore in November. The BSE Realty index was down 0.73 per cent at 1283.49.
9.18 am: Dr Reddy’s Laboratories has submitted a response to the US health regulator on a warning letter it had received last month. In response to the letter, DRL CEO G V Prasad had said the company is in the process of shifting some of the products from these plants to other facilities and considering third party assessment for its plants. The share price of Dr Reddy’s Labs was trading 2.54 per cent down at Rs 2,985.45. Sensex was down 71.47 points at 25,238.86.
Asian stock markets slipped further to two-month lows on Wednesday as crumbling oil prices took a toll on energy and resource shares, with cooling demand from China putting more pressure on resources-reliant economies.
Overnight on Wall Street, the S&P 500 lost 0.7 per cent, with the S&P energy sector falling 1.5 per cent in its fifth straight day of declines.
Back home, Sensex closed 219.78 points down at 25,310.33 on Tuesday, while NSE Nifty50 index settled 63.70 points down at 7,701.70. Benchmark indices extended losses on Tuesday, tracking weakness in global markets and poor exports data from China hinting towards weak global demand. Continued selling by FIIs also added to the weakness in Indian markets.
Shares of Amtek Auto surged almost 11 per cent on Tuesday on heavy volumes on Tuesday, defying an overall weak broader market trend, amid reports that fund house JP Morgan has recovered 85 per cent of the company’s bond dues.
(With agency inputs)
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