Thursday, 9 July 2015

Nifty to See Flat Opening; Calmness Returns in China Markets

Live: Nifty to See Flat Opening; Calmness Returns in China Markets

9:10 a.m.: The Sensex was down 6 points at 27,681 and Nifty was up 2 points at 8,365 in the pre-market session.

9:06 a.m.: 8K Miles: 8K Miles Q1 earnings came in line with the expectations. Total income came in at Rs 50.6 crore compared to Rs 42.6 crore.

9:04 a.m.: Axis Bank, Bajaj Auto, Bajaj Finance and Eclerx will go ex-dividend today.

9:00 a.m.: Rupee opens higher at 63.54/dollar against Wednesday's close of 63.59.

8:54 a.m.: Credit Suisse has maintained outperform on Larsen & Toubro for target price of Rs 2,175 per share.

8:35 a.m.: TCS will be announcing its first quarter results for FY16. Analysts expect company to post sales of Rs 25,326 crore compared to Rs 24,219 crore during the previous quarter and net profit is expected at Rs 5,421 crore compared to Rs 5,905 crore in the previous quarter.

8:30 a.m.: Manpasand Beverages shares will be listed on the exchanges today. Manpasand Beverages manufactures fruit drinks known as Mango Sip, Fruits-Up and Manpasand ORG.

8:25 a.m.: The foreign institutional investors sold Indian shares worth Rs 354.32 crore on Wednesday while the domestic institutional investors sold shares worth Rs 346.7 crore.

In the derivative segment, the FIIs sold index futures worth Rs 270 crore and also sold stock futures worth Rs 90 crore.

8:15 a.m.: Asian equities extended losses on Thursday as concerns over China's market turmoil spread, while the safe-haven yen shot to a seven-week high as global risk appetite ebbed.

MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.2 per cent, hovering near a 17-month low struck the previous day.

8:10 a.m.: Overnight, the U.S. stocks ended sharply lower on Wednesday as market turmoil in China eclipsed Greece's debt crisis, while the New York Stock Exchange suffered a major outage.

Fears that a rout in Chinese stocks could seriously harm the country's economy and spread beyond its borders pushed the S&P 500 below its 200-day moving average for the first time since October and into negative territory for 2015.

The Dow Jones industrial average fell 261.49 points, or 1.47 per cent, to end at 17,515.42. The S&P 500 lost 34.65 points, or 1.66 per cent, to 2,046.69 and the Nasdaq Composite dropped 87.70 points, or 1.75 per cent, to 4,909.76.

8:05 a.m.: Meanwhile, China's securities regulator took the drastic step of banning shareholders with stakes of more than 5 per cent from selling shares for the next six months in a bid to halt a plunge in stock prices that is starting to roil global financial markets.

The China Securities Regulatory Commission (CSRC) said on its website late on Wednesday that it would deal severely with any shareholders who violated the rule.

8:00 a.m.: The Sensex and Nifty are likely to witness a flat opening in trades today on the back of weak global sentiment which prevailed after continuous selloff in the Chinese stock markets.

The Nifty which is traded on the Singapore Stock Exchange also known as the SGX Nifty was indicating a flat start for the Indian markets. The SGX Nifty was up 0.05 per cent at 8,369.

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