Live Nifty and Sensex 26-Aug-2016

Sensex, Nifty under pressure; Fed chief Yellen's speech eyed  
12:59 pm Market Update: Equity benchmarks remained under pressure as the Sensex was down 77.86 points at 27758.05 and the Nifty down 22.65 points at 8569.55. About 1422 shares declined against 963 advancing shares on the BSE.  

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12:40 pm Europe opens: European stocks opened slightly higher as investors stay sidelined amid continued debate among Federal Reserve officials over the timing of a US rate hike and ahead of a speech by the central bank's chair Janet Yellen later in the day. The pan-European STOXX 600 was up 0.16 percent.

12:35 pm Edelweiss on Mahanagar Gas: The Mumbai Metro Rail Corporation has inked agreements with 4 civil contractors, including J Kumar Infra, for 6 project packages. This will enable the contractors to claim mobilisation advances and start work post the monsoon season, says Edelweiss. This project comprises around 50 percent of the company's order book.

12:20 pm Market Outlook: The sharp rally in the market does cause jitters, given the state of expensive valuations, especially in the midcap space, but overall, markets are moving in the right direction, says Vikas Khemani, President and CEO of Edelweiss Securities.

Live Nifty Sensex Update

LIVE: Sensex jumps over 70 points, Nifty above 8,650; Idea Cellular down, Aurobindo Pharma gains  

9.25 am: Aurobindo Pharma shares were trading 3.71 per cent higher at Rs 763.60. Sensex was up 65.98  points at 28056.19. Nifty was trading 12.45 points up at 8645.05.

9.20 am: Idea Cellular shares were down 3.17 per cent at Rs 97.60. Shares of the Company jumped over 7 per cent on Tuesday after media reports that Idea Cellular is exploring options for strategic deal with Vodafone and the telecom major is talks with Vodafone for potential merger. However, Idea Cellular in a reply to BSE said, “We would like to inform that, the news item is absolutely untrue and preposterous.” 

 9.15 am: Sensex opened 75.04 points up at 28065.25, while Nifty opened 15.90 points up at 8648.50.  

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PRE-OPENING  

The BSE Sensex and NSE Nifty are likely to open lower on Wednesday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues. At 8 am (IST), SGX Nifty was trading 26.50 points down at 8,627.50. Asian peers were trading mixed in the morning trade. Hang Seng was down by 0.52 per cent at 22878, Shanghai and Nikkei were trading higher by 0.49 per cent and 0.01 per cent, respectively.  

Castrol Ltd, a unit of oil major BP Plc, is selling an up to $261 million stake in Castrol India Ltd in a block trade on Wednesday, according to a termsheet seen by Reuters. The BP unit is selling shares at between Rs 385 to Rs 415.5 apiece, the termsheet showed. Castrol India shares on Tuesday closed 0.14 per cent down at Rs 417.10.  

Aurobindo Pharma on Tuesday registered a 23.81 per cent increase in consolidated net profit at Rs 584.96 crore for the first quarter ended June 30, 2016 against net profit of Rs 472.45 crore in the corresponding quarter a year ago.

LIVE: Sensex, Nifty Open Flat

LIVE: Sensex, Nifty open flat; Allcargo Logistics, HPCL shares fall 

9.24 am: Allcargo Logistics fell over 5 per cent post Q1 results. The scrip was trading 5.27 per cent down  
at Rs 185 in the early trade.

9.18 am: Shriram EPC shares were trading 10.43 per cent up at Rs 24.35 in the early trade. Sensex was down 26.92 points at 27958, while Nifty was trading 9.95 points down at 8,619.  

9.15 am: Domestic benchmark indices opened on a flat note on Tuesday. Sensex opened 27.02 points up at 28012.56, while Nifty opened 0.80 points, or 0.01 per cent, down at 8,628.35.  

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8.07 am: The BSE Sensex and NSE Nifty are likely to open on a flat note with negative bias on Tuesday tracking Nifty futures on the Singapore Stock Exchange and mixed global cues. At 7.57 am (IST), SGX Nifty was down 10.50 points, or 0.12 per cent, at 8,617. Asian peers, Hang Seng and Nikkei were down by 0.28 per cent and 0.20 per cent, respectively, in the morning trade. However, Shanghai was trading up by 0.43 per cent.  

The 30-share Sensex dipped 91.46 points to 27985.54 on Monday with investors adopting cautious stance after the appointment of Urjit Patel as the next RBI chief, who is very unlikely to cut rates in view of high inflation. NSE Nifty 50 index closed 37.75 points down at 8,629.15.  

Shares of Pfizer and HPCL will remain in focus on Tuesday. Pfizer will pay about $14 billion to buy cancer drug developer Medivation in a cash deal aimed at fortifying its hold in one of the hottest and most lucrative areas of medicine.  

State-owned Hindustan Petroleum Corp (HPCL) on Monday registered a 30 per cent rise in its June quarter net profit to Rs 2,098.38 crore on rise in fuel sales and inventory gains. The oil marketing company posted a net profit of Rs 1614.13 crore in the corresponding quarter a year ago.

Sensex Down Over 100 Points

Sensex Down Over 100 Points; Sun Pharma, Lupin Drag  
11.36 a.m.: Sun Pharma led selloff in pharma stocks, it was down 2.3 per cent at Rs 765.85. The pharma  sub-index of National Stock Exchange was down 1.05 per cent. Lupin , Auro Pharma were the other two big losers in the index. Meanwhile the Sensex was down 136 points at 27,941 and the Nifty traded 46 points lower at 8,621. The rupee was at 67.19, down 13 paise against the dollar.

10.40 a.m.: Sensex fell 134 points to 27,943 after selling intensified in metal and auto shares. The Nifty traded 46 points lower at 8,621. Hindalco, Sun Pharma, Lupin, Bank of Baroda were the prominent losers in the Nifty, down 1.5-2 per cent.  

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10.10 a.m.: Selling in auto, metal and banking shares dragged frontline indices lower. The Sensex was down 65 points at 28,012 while the Nifty50 index traded 25 points lower at 8,642.  

10.05 a.m.: Fortis Malar Hospital shares surged 20 per cent to Rs 68.50 after its parent Fortis Healthcare announced demerger of diagnostic business with itself.

9:30 p.m.: Welspun India slumps 20 per cent after Bloomberg reported that Target Corp is ending all business with the company, "after saying the supplier was sending it phony Egyptian cotton sheets".  

9:25 p.m.: Sensex overcame a weak start to move higher with FMCG and energy stocks edging higher in early trade. Sensex up over 50 points while Nifty rises to 8,685 at day's high. The BSE Sensex and Nifty are likely to open flat on Monday as indicated by SGX Nifty (Nifty futures trading on Singapore Stock Exchange), which was up 11 points at 8,699 as of 8.10 a.m.  

The government on Saturday appointed Urjit Patel, current Deputy Governor at Reserve Bank of India, as the new Governor who will replace outgoing Governor Raghuram Rajan. Mr Patel's appointment as Reserve Bank Governor should lead to a rally in stock markets, said most of the analysts as it signals the continuity of monetary policy, which is focused on curbing inflation.

Sensex Rallies over 100 Points, Nifty Crosses 8,700

LIVE: Sensex rallies over 100 points in opening trade, Nifty crosses 8,700 to hit 52-week high; Wockhardt down 11 per cent  

9.32 am: Amara Raja Batteries stocks were trading 1.69 per cent up at Rs 917.15 after it posted a rise of 6.82% in its net profit at Rs 130.66 crore for the quarter ended June 30, 2016 as compared to Rs 122.32 crore for the same quarter in the previous year. Sensex was trading 143.84 points up at 28,222.19, while NSE Nifty was trading 37.40 points up at 8,720.55.  

9.19 am: Sensex was trading 107.60 points up at 28,185.95, while NSE Nifty hit its 52-week high by crossing 8,700. It was trading 25.35 points up at 8,708.50 during the same time. Wockhardt stocks were down 11 per cent  

9.09 am: In pre-markets session, Sensex is trading 103.57 points up at 28,181.92, while NSE Nifty is trading 29.70 points up at 8,712.85.  

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The BSE Sensex and NSE Nifty may open on a firm note on Monday tracking SGX Nifty, an indicator of how domestic markets will start the day. At 7.33 am, SGX Nifty was trading 49.50 points up at 8,752. On Friday, Sensex closed 363.98 points up at 28,078.35, while Nifty50 index settled 132.05 points up at 8,683.15.

Nifty Market News: Opening Bell, GST Bill Update

Live: Sensex, Nifty Decline on Weak Global Cues; GST Bill Passage in Rajya Sabha Eyed

Opening Bell 

Indian shares extend losses as weak global cues prompt investors to take some profit off the table,  

while awaiting clearance for the passage of the unified sales tax bill. The S&P BSE Sensex declines 0.5 percent to 27,832; while the NSE Nifty loses 0.4 percent to 8,584. 

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HCL Technologies Soars After Q1 Net Beats Estimates  

The country’s fourth largest IT services provider jumps as much as 8.5 percent after it reports a 5.9 percent profit growth in the April-June quarter, beating the consensus estimate of analysts tracked by Bloomberg.  

The GST Trigger  

The long-pending GST Bill will be tabled today for consideration and passage in Rajya Sabha amidst strong indications that the most important economic reform in the last couple of decades would be supported by Congress and all other major political parties.

IPO Update  

• Dilip Buildcon IPO gets 70 percent demand for shares offered on second day of sale yesterday; offer scheduled to close today  
• S.P. Apparels IPO gets 12 percent demand for shares offered on first day of sale yesterday; offer closes August 4