The Indian equity market opened in red on Thursday. The S&P BSE Sensex was trading in red below its crucial 29,000 mark, while the broader Nifty50 was hovering around its key 8,900 level. The indices edged lower as index heavyweight IT stocks TCS and Infosys tanked upto 6% after country's largest software services firm issued profit warning.
At 10:36 AM, theS&P BSE Sensex is trading at 28,951 up 25 points, while NSE Nifty is trading at 8,924 up mere six points.The BSE Mid-cap Index is trading up 0.03% at 13,463 whereas BSE Small-cap Index is trading up 0.74% at 12,911.
ONGC, Tata Steel, GAIL, Bajaj Auto, Hero MotoCorp and HUL are among the gainers, whereas tcs, Infosys, Wipro, NTPC, Tata Motors are losing sheen on BSE.
Some buying activity is seen in oil & gas, realty, metal, energy, basic materials, telecom and capital goods sectors, while IT and power sectors are showing weakness on BSE.
The INDIA VIX is down 0.76% at 13.0450. Out of 1,852 stocks traded on the NSE, 516 declined, 1,007 advanced and 401 remained unchanged today.
A total of 65 stocks registered a fresh 52-week high in trades today, while 11 stocks touched a new 52-weeklow on the NSE.
Jindal Steel & Power Ltd is currently trading at Rs. 87.35, up by Rs. 2.4 or 2.83% from its previous closing of Rs. 84.95 on the BSE. The company will announce its Q1 numbers today.
Oil & Natural Gas Corp Ltd is currently trading at Rs. 250.95, up by Rs. 5.85 or 2.39% from its previous closing of Rs. 245.1 on the BSE. The company has posted a net profit after tax of Rs.4,232.5 crore for the quarter ended June 30, 2016 as compared to Rs.5368.4 crore for the quarter ended June 30, 2015.
Tata Consultancy Services Ltd is currently trading at Rs. 2320.4, down by Rs. 126.6 or 5.17% from its previous closing of Rs. 2447 on the BSE. The IT Company said it will update investors on business trends in Q2 FY17. It is seeing sequential loss of momentum in BFSI vertical and holding back of discretionary spending seen in BFSI vertical in the US, as per media reports.
Aptech Ltd is currently trading at Rs. 175.05, up by Rs. 15.9 or 9.99% from its previous closing of Rs. 159.15 on the BSE. The company made a foray into the preschool education sector through a strategic alliance with the city-based Montana International Preschool.
PNC Infratech Ltd is currently trading at Rs. 126.85, up by Rs. 4.45 or 3.64% from its previous closing of Rs. 122.4 on the BSE. The National Highways Authority of India on Wednesday said it has given a Rs.820 crore highway project in Rajasthan to PNC Infratech.
Motherson Sumi Systems Ltd is currently trading at Rs. 337, up by Rs. 0.65 or 0.19% from its previous closing of Rs. 336.35 on the BSE. Motherson Sumi Systems Ltd will be acquiring the automotive business unit of Abraham and Co. Ltd in Hungary for about Rs.77 crore.
The rupee opened lower by 11 paise at 66.47/$ against US Dollar Thursday as against the previous close of 66.36/$.
Asian shares opened mixed. Asian shares opened mixed. Shanghai Composite and Nikkei 225 are trading is in red, while Hang Seng up 0.40%.
Wall Street closed mixed on Wednesday as investors digested the release of the Federal Reserve’s Beige Book, a key indicator of the US economic health. The Dow Jones industrial average fell 0.06%, to close at 18,526.14 points. The S&P 500 fell 0.02%, to end at 2,186.15 points. The Nasdaq rose 0.15%, to close at 5,283.93 points.
On the global front, the Fed said on Wednesday afternoon in its Beige Book report of anecdotal information that the US economy expanded at a modest pace in July and August, but there was little sign that wage pressures are being felt beyond highly skilled jobs.
Finance minister Arun Jaitley doesn’t rule out the possibility of India missing the 1 April deadline for the roll-out of the goods and services tax. Arun Jaitley said India is not ready for their privatisation and the present characteristics of PSU banks will continue except for IDBI Bank. On stressed assets, the finance minister said the Centre has initiated a large number of steps to reduce NPAs.
ICICI Prudential Life Insurance Co. is likely to launch its share sale to raise at least Rs.5,000 crore in the week of 19 September.
Rail fares are set to rise across the Rajdhani, Duronto and Shatabdi trains where Railways is introducing this system which will increase the ticket tariffs by upto 10% on the base price with every 10 percent of tickets sold.
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