At 12.45 PM (IST), Sensex is trading 198 points down at 19,297, while Nifty is 65 points down at 5,802.
BSE Mid cap has declined 31 points to 5,960, while BSE Small Cap is trading 27 points down at 5,692.
Only BSE IT, Healthcare and Teck are the gainers, whereas FMCG, Capital Goods, Consumer Durables, Power, Bankex, Metal, Auto, Oil & Gas, PSU and Realty are the losers.
Wipro, Sun Pharma, Dr Reddy's Lab, Infosys, Bharti Airtel and Hero MotoCorp are leading, whereas Tata Motors, HDFC, Coal India, ONGC, ICICI Bank, NTPC, BHEL, Jindal Steel, Tata Steel, Mahindra & Mahindra, RIL, SBI and Gail India are seeing some weakness.
Japan's Nikkei 225 Index closed at 200 points down at 14,109 and Hong Kong's Hang Seng Index is 305 points down at 20,548.
Tata Motors falls 3.33% on reports that its JLR production line in the UK may grind to a halt within weeks after delivery workers from logistics company DHL voted for a strike, demanding a large pay rise and similair terms and conditions on par with JLR staff. The stock is trading at Rs. 286.
Ashok Leyland rose over 0.5% to Rs. 18 after the company bagged an order for 2,610 buses from the Institute of Road Transport in Tamil Nadu. The company has not disclosed details of the value of the order nor has it disclosed the time frame for order execution.
The weak market notwithstanding, shares of Mangalore Refinery and Petrochemicals Ltd are flaring on the bourses. The company announced that it has been upgraded from Schedule ''B'' status to Schedule ''A'' status by Department of Public Enterprises (DPE), Government of India from July 04. The stock rises 1.2% at Rs. 38 on the BSE.
It seems to be raining good news on the telecom counter. Bharti Airtel increases 0.49% to Rs. 297. The telecom service provider has retired equivalent debt worth Rs. 67.96 billion from the proceeds of the preferential allotment in June 2013 of 5% equity shares in Bharti Airtel @ Rs. 340 per share to Qatar Foundation Endowment.
Bharti Airtel said that this major debt reduction will result in an improvement in the capital structure and balance sheet leverage for the company.
In June 2013, Bharti had issued 199.8 million new equity shares, representing 5% equity stake in the company, to Qatar Foundation Endowment for a total consideration of Rs. 67.96 billion.
Reliance Communications (RCom) has risen 8.74% to Rs. 147.45. RCom is set to demerge the company’s real estate assets. A new company, Reliance Properties Ltd (RPL), would be spun off to unlock value. RPL will be listed separately and the existing shareholders will get one RPL share for each RCom share (of Rs 130 market price) held.
Neyveli Lignite (NLC) shares climbed 1.63% to Rs. 59.25 after market regulator SEBI allowed Tamil Nadu state to pick up central government's 5% equity in the state run company, provided the acquisition is done by a qualified state entity.
The Centre currently holds 93.56% stake in NLC. The stake sale is being proposed done to meet the minimum public holding norm.
The rupee fell to an all-time low of 61.09 per dollar, down 87 paise or 1.44% against its previous close. However, it recovered smartly and is 1.25% up to 60.96 per dollar.
The Reserve Bank of India will sell Rs. 120 billion through treasury bills on July 10, the central bank said on Friday.
Oil prices jumped nearly $2 a barrel on Friday, boosted by concerns over rising tensions in Egypt and better-than-expected US economic data.
BSE Mid cap has declined 31 points to 5,960, while BSE Small Cap is trading 27 points down at 5,692.
Only BSE IT, Healthcare and Teck are the gainers, whereas FMCG, Capital Goods, Consumer Durables, Power, Bankex, Metal, Auto, Oil & Gas, PSU and Realty are the losers.
Wipro, Sun Pharma, Dr Reddy's Lab, Infosys, Bharti Airtel and Hero MotoCorp are leading, whereas Tata Motors, HDFC, Coal India, ONGC, ICICI Bank, NTPC, BHEL, Jindal Steel, Tata Steel, Mahindra & Mahindra, RIL, SBI and Gail India are seeing some weakness.
Japan's Nikkei 225 Index closed at 200 points down at 14,109 and Hong Kong's Hang Seng Index is 305 points down at 20,548.
Tata Motors falls 3.33% on reports that its JLR production line in the UK may grind to a halt within weeks after delivery workers from logistics company DHL voted for a strike, demanding a large pay rise and similair terms and conditions on par with JLR staff. The stock is trading at Rs. 286.
Ashok Leyland rose over 0.5% to Rs. 18 after the company bagged an order for 2,610 buses from the Institute of Road Transport in Tamil Nadu. The company has not disclosed details of the value of the order nor has it disclosed the time frame for order execution.
The weak market notwithstanding, shares of Mangalore Refinery and Petrochemicals Ltd are flaring on the bourses. The company announced that it has been upgraded from Schedule ''B'' status to Schedule ''A'' status by Department of Public Enterprises (DPE), Government of India from July 04. The stock rises 1.2% at Rs. 38 on the BSE.
It seems to be raining good news on the telecom counter. Bharti Airtel increases 0.49% to Rs. 297. The telecom service provider has retired equivalent debt worth Rs. 67.96 billion from the proceeds of the preferential allotment in June 2013 of 5% equity shares in Bharti Airtel @ Rs. 340 per share to Qatar Foundation Endowment.
Bharti Airtel said that this major debt reduction will result in an improvement in the capital structure and balance sheet leverage for the company.
In June 2013, Bharti had issued 199.8 million new equity shares, representing 5% equity stake in the company, to Qatar Foundation Endowment for a total consideration of Rs. 67.96 billion.
Reliance Communications (RCom) has risen 8.74% to Rs. 147.45. RCom is set to demerge the company’s real estate assets. A new company, Reliance Properties Ltd (RPL), would be spun off to unlock value. RPL will be listed separately and the existing shareholders will get one RPL share for each RCom share (of Rs 130 market price) held.
Neyveli Lignite (NLC) shares climbed 1.63% to Rs. 59.25 after market regulator SEBI allowed Tamil Nadu state to pick up central government's 5% equity in the state run company, provided the acquisition is done by a qualified state entity.
The Centre currently holds 93.56% stake in NLC. The stake sale is being proposed done to meet the minimum public holding norm.
The rupee fell to an all-time low of 61.09 per dollar, down 87 paise or 1.44% against its previous close. However, it recovered smartly and is 1.25% up to 60.96 per dollar.
The Reserve Bank of India will sell Rs. 120 billion through treasury bills on July 10, the central bank said on Friday.
Oil prices jumped nearly $2 a barrel on Friday, boosted by concerns over rising tensions in Egypt and better-than-expected US economic data.
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