Sensex slips 500 points

Sensex slipped above 500 points and was trading below level of 27000.Nifty has posted worst loss since July 8

At 3:09PM, the S&P BSE Sensex is trading at 26,819 down 500 points, while NSE Nifty is trading at 8,087 down 131 points.

The BSE Mid-cap Index and BSE Small-cap Index was trading down at 1%.

IT, Teck indices are the gainers, while Auto, Consumer Durables, Power, banking, Capital goods, FMCG, Oil and gas indices, Healthcare Metal, Realty indices are losers.

Infosys TCS are among the gainers, whereas ITC,  Reliance, Tata Steel,Hindalco, ONGC, ICICI Bank and Bharti Airtel are losing sheen on BSE.

The government will try and move the constitutional amendment Bill to facilitate the levy in the ongoing winter session of Parliament to pave the way for rolling out the single tax from April 1, 2016, says a report. The Centre and the states reached a broad consensus late Monday night on the contours of the goods & services tax (GST), the report added.

The Reserve Bank of India has allowed banks to be flexible in lending to existing projects, in line with cash flows available for debt refinancing. This facility will also be available for non-performing loans.

India's trade deficit widened to US$ 16.86 bn in November. Total imports in November, including oil, rises by 26.79 percent to US$ 42.82 billion.

The Union Finance Minister Arun Jaitley said that the world economy is passing through critical phase while Indian Economy has potential to grow at a higher rate. In this regard he specifically mentioned about unexploited potential of the manufacturing and infrastructure sectors in particular.

Sensex, Nifty down 1.3%

The market continues to trade lower tracking the negative cues from the European market.

Elsewhere in Europe, the DAX has plunged 2.7 per cent. The CAC40 has cracked 2.5 per cent. The FTSE has slumped 1.9 per cent.

Back to home, the Sensex continues to trade below its psychological level of 27,000.

As on 1335 hrs, the Sensex has slumped 368 points at 26,951. The Nifty has plunged 110 points at 8,109.

The market breadth is extremely negative - out of 1,732 stocks have traded on the BSE - 1,334 stocks have declined, while 187 stocks have advanced.

The India VIX (Volatility) index has jumped over 11 per cent to 15.585.

Dr Reddy's has nose-dived deeper into red and is now down over 6 per cent at Rs. 3,148. Sesa Sterlite has slumped 5.7 per cent at Rs. 198. Hindalco has cracked 5.3 per cent at Rs. 145. Tata Power has tumbled 4 per cent at Rs. 80.50.

Ambuja Cement has slipped around 4 per cent at Rs. 220. NTPC, Jindal Steel and ICICI Bank have dropped over 3.2 per cent each.

On the other hand, HCL Tech has jumped around 5 per cent at Rs. 1,558. TCS and Tech Mahindra have added over 3 per cent each.

Godrej Consumer slides on block deal

Godrej Consumer suddenly witnessed a sharp fall on the BSE, after a block deal of 8.35 lakh equity shares - which was executed at Rs. 900 per share at the counter on the BSE today.

So far, the stock has slipped over 6 per cent from the highest point of the day at Rs. 910 to touch a high of Rs. 855.

Currently, Godrej Consumer is down over 5 per cent (Rs. 46) at Rs. 856. The counter has seen trades of around 842,000 shares on the BSE, as against the daily average volume of 74,000 shares in the past two weeks.

Meanwhile, the BSE Sensex is trading with a significant loss of 336 points at 26,983.

Jet Airways bounces back, up 5%

After tumbling over 15 per cent in the last two trading sessions, Jet Airways is back to winning ways cashing on the sharp fall in Crude Oil prices.

The NYMEX Crude Oil futures are trading with losses of around 2 per cent at $ 55.30 per barrel.

Lower Crude Oil prices help the aviation industry reduce the operating costs. Also, Jet seems to be benefitting from the current cancellation of flights by rival SpiceJet.

The stock which touched a low of Rs. 369 in late morning deals, has rebounded strongly into the positive zone and touched a high of Rs. 393 - up 6.5 per cent from the day's low.

The stock is now up nearly 5 per cent at Rs. 391. The counter has seen trades of around 950,000 shares as against the two-week daily average volume of around 1.38 million shares on the BSE.

Meanwhile, the Sensex has recovered partially from the day's low, but still down a hefty 320 points at 26,999.

Sensex below 27,000 mark...Nifty slips 100 points

At 10:53AM, the S&P BSE Sensex is trading at 26,943 down 345 points, while NSE Nifty is trading at 8,119 down 100 points.
 
The BSE Mid-cap Index and BSE Small-cap Index was trading down at 1%.
 
IT, Teck indices are the gainers, while Auto, Consumer Durables, Power, banking, Capital goods, FMCG, Oil and gas indices, Healthcare Metal, Realty indices are losers.
 
Infosys, Reliance, Tata Steel, TCS are among the gainers, whereas ITC, Hindalco, ONGC, ICICI Bank and Bharti Airtel are losing sheen on BSE.
 
The government will try and move the constitutional amendment Bill to facilitate the levy in the ongoing winter session of Parliament to pave the way for rolling out the single tax from April 1, 2016, says a report. The Centre and the states reached a broad consensus late Monday night on the contours of the goods & services tax (GST), the report added.
 
The Reserve Bank of India has allowed banks to be flexible in lending to existing projects, in line with cash flows available for debt refinancing. This facility will also be available for non-performing loans.
 
India's trade deficit widened to US$ 16.86 bn in November. Total imports in November, including oil, rises by 26.79 percent to US$ 42.82 billion.
 
The Union Finance Minister Arun Jaitley said that the world economy is passing through critical phase while Indian Economy has potential to grow at a higher rate. In this regard he specifically mentioned about unexploited potential of the manufacturing and infrastructure sectors in particular.

Bank Nifty tanks 2%

Banking stocks are the major laggards this morning owing to heavy selling pressure at the counter owing to profit-taking.

The banking stocks have been in focus for the much of the calendar year on hopes of interest rate cuts and banking reforms.

However, taking cues from the global market the banking shares today have logged heavy losses.

The NSE Bank Nifty has tumbled to a low 18,011 and is now down 2 per cent at 18,015.

ICICI Bank and Yes Bank are the top losers, down over 3 per cent each at Rs. 334 and Rs. 687, respectively.

Kotak Bank has shed 2.5 per cent at Rs. 1,277. Federal Bank and Bank of Baroda have declined over 2 per cent each to Rs. 137 and Rs. 1,036, respectively.

SBI, IndusInd Bank, HDFC Bank, Punjab National Bank, Axis Bank and Canara Bank are the other major losers.

Meanwhile, the NSE Nifty is down over a per cent (90 points) at 8,130.

Sensex plunges 300 points

At 10:13AM, the S&P BSE Sensex is trading at 27,018 down 300 points, while NSE Nifty is trading at 8,135 down 83 points.

The BSE Mid-cap Index and BSE Small-cap Index was trading down at 1%.

IT, Teck indices are the gainers, while Auto, Consumer Durables, Power, banking, Capital goods, FMCG, Oil and gas indices, Healthcare Metal, Realty indices are losers.

Infosys, Reliance, Tata Steel, TCS are among the gainers, whereas ITC, Hindalco, ONGC, ICICI Bank and Bharti Airtel are losing sheen on BSE.

The government will try and move the constitutional amendment Bill to facilitate the levy in the ongoing winter session of Parliament to pave the way for rolling out the single tax from April 1, 2016, says a report. The Centre and the states reached a broad consensus late Monday night on the contours of the goods & services tax (GST), the report added.

The Reserve Bank of India has allowed banks to be flexible in lending to existing projects, in line with cash flows available for debt refinancing. This facility will also be available for non-performing loans.

US market ended in the red. Asian indices are also trading lower. Japan's Nikkei is down almost 2% while Hong Kong's Hang Seng has lost half a percent. China's Shanghai index is flat.

India's trade deficit widened to US$ 16.86 bn in November. Total imports in November, including oil, rises by 26.79 percent to US$ 42.82 billion.

IDBI Bank spurts in opening deals

IDBI Bank spurted over a per cent to touch a high of Rs 69.50 on plans of selling its 5 per cent stake in NSE.

According to a release issued by the bank to the BSE, the bank plans to sell the 5 per cent stake in NSE, which is part of non-core banking activity by inviting bids through the advertisement route in due course.

The stock is now up 0.7 per cent at Rs. 69. The counter has seen trades of around 70,000 shares so far on the BSE.

Meanwhile, the Sensex has slumped 247 points to 27,072.

Sensex slips 100 points...Auto, Bankex down

At 9:19AM, the S&P BSE Sensex is trading at 27,187 down 132 points, while NSE Nifty is trading at 8,182 down 37 points.

The BSE Mid-cap Index and BSE Small-cap Index was trading down at 0.23% and 0.29%.

IT, Teck indices are the gainers, while Auto, Consumer Durables, Power, banking, Capital goods, FMCG, Oil and gas indices, Healthcare Metal, Realty indices are losers.

Infosys, Reliance, Tata Steel, TCS are among the gainers, whereas ITC, Hindalco, ONGC, ICICI Bank and Bharti Airtel are losing sheen on BSE.

In what is seen as a breakthrough, the government will try and move the constitutional amendment Bill to facilitate the levy in the ongoing winter session of Parliament to pave the way for rolling out the single tax from April 1, 2016, says a report. The Centre and the states reached a broad consensus late Monday night on the contours of the goods & services tax (GST), the report added.

The Reserve Bank of India has allowed banks to be flexible in lending to existing projects, in line with cash flows available for debt refinancing. This facility will also be available for non-performing loans.

US market ended in the red. Asian indices are also trading lower. Japan's Nikkei is down almost 2% while Hong Kong's Hang Seng has lost half a percent. China's Shanghai index is flat.

The next Rail Budget to be presented early next year may contain a proposal for raising fares, according to reports. New Railway Minister Suresh Prabhu reportedly said that “some burden has to be shared by people.”