Live Stock Market Updates - Nifty shuts above 8550 mark

Closing Bell:
Finally, the BSE Sensex ended with a gain of 85 points at 27,860. The BSE Sensex opened at 27,806 touched an intra-day high of 27,902 and low of 27,697.

The NSE Nifty closed with a gain of 17 points at 8,592. The NSE Nifty opened at 8,573 hitting a high of 8,601 and low of 8,540.


Market's Live:

The Indian stock market see-sawed between negative and positive zone due to profit-booking by funds and retail investors in recent gainers amid weak global cues.

Traders remained cautious ahead of June IIP and retail inflation data for July to be released tomorrow.

The BSE Sensex opened 31.06 points up at 27,805.94, while NSE Nifty opened 2.50 points down at 8,572.80.

At 1:49 PM, the S&P BSE Sensex is trading at 27,785 up 10 points, while NSE Nifty is trading at 8,600 down 15 points.

The BSE Mid-cap Index is trading up 0.24% at 12,648 whereas BSE Small-cap Index is trading up 0.41% at 12,241.

Lupin, RIL, ITC, TCS, Axis Bank and NTPC are among the gainers, whereas M&M, SBI, Tata Steel, Adani Ports, Sun Pharma, Tata Motors and GAIL are losing sheen on BSE.

Some buying activity is seen in FMCG, IT and energy sectors, while realty, metal, auto, telecom, banking and utilities showing weakness on BSE.

The INDIA VIX is down 2.93% at 14.4850. Out of 1,859 stocks traded on the NSE, 1,006 declined, 561 advanced and 282 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trades today, while 24 stocks touched a new 52-week low on the NSE.

Gujarat Pipavav Port Ltd advanced 0.69% to Rs.168. The company reported 60.46% increase in its net profit to Rs.59.75 crore in June quarter against Rs.37.24 crore a year ago.

Ipca Laboratories Ltd rose 3.6% to Rs.521. The company reported 127.4% increase in its net profit to Rs.47.57 crore in June quarter against Rs.20.92 crore a year ago.

Bank of Baroda tumbled 8.7% to Rs.153. The bank said its net profit for the June quarter fell 59.74% from a year ago due to higher provisions and lower net interest income. Net profit for the quarter stood at Rs.423.62 crore as compared to Rs.1,052.15 crore a year ago.

Sun Pharmaceutical Industries Ltd fell 1.4% to Rs.804.10. Taro Pharmaceutical Industries’ (Taro Pharma) net profit rose 6.08% to $109.9 million on 8.6% increase in net sales to $233.8 million in Q1 June 2016 over Q1 June 2015.

Lincoln Pharmaceuticals Ltd jumped 7.4% to Rs.224. The company reported a net profit of Rs.10.93 crore in June quarter, up 67.18% from Rs.6.54 crore a year ago.

Dilip Buildcon listed on the exchanges at Rs.240, up 10%, against the issue price of Rs.219.

Tata Communications Ltd slipped 1.5% to Rs.475. The Lok Sabha passed the Taxation Laws (Amendment) Bill. The Bill, when enacted, will put to rest the Tata Communications- Videsh Sanchar Nigam Limited (VSNL) surplus land issue and boost the government’s plans for non-core asset sales in large public sector undertakings (PSUs) that have land banks.

Live Stock Market Updates - Sensex, Nifty volatile; FMCG, IT gain.

The Indian stock market see-sawed between negative and positive zone due to profit-booking by funds and retail investors in recent gainers amid weak global cues.

Traders remained cautious ahead of June IIP and retail inflation data for July to be released tomorrow.

The BSE Sensex opened 31.06 points up at 27,805.94, while NSE Nifty opened 2.50 points down at 8,572.80.

At 1:49 PM, the S&P BSE Sensex is trading at 27,785 up 10 points, while NSE Nifty is trading at 8,600 down 15 points.

The BSE Mid-cap Index is trading up 0.24% at 12,648 whereas BSE Small-cap Index is trading up 0.41% at 12,241.

Lupin, RIL, ITC, TCS, Axis Bank and NTPC are among the gainers, whereas M&M, SBI, Tata Steel, Adani Ports, Sun Pharma, Tata Motors and GAIL are losing sheen on BSE.

Some buying activity is seen in FMCG, IT and energy sectors, while realty, metal, auto, telecom, banking and utilities showing weakness on BSE.

The INDIA VIX is down 2.93% at 14.4850. Out of 1,859 stocks traded on the NSE, 1,006 declined, 561 advanced and 282 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trades today, while 24 stocks touched a new 52-week low on the NSE.

Sensex, Nifty to open on flat note

The tired market finally gave way on Wednesday with profit-booking across the board dragging indices to one of its worst fall in over a month. There are no new alarm bells ringing and investors will continue to scout for reasons to get in and out of counters. Index futures saw some fresh shorts at higher levels and reports indicate some selling of Nifty options by institutional investors led to the tumble. The outlook is a flat start. Some pullback could be expected with Asian markets showing a mixed trend. US indices fell following weakness in crude prices; higher inventories led to a sell-off here. A host of results are on tap including Bank of Baroda and Godrej Industries. Dilip Buildcon, which saw an astounding response to its IPO will get listed on the bourses today. 
 
Other news in the media:
 
Reliance Industries (RIL) is looking to lure away many of the 10mn cooking gas consumers who have surrendered subsidy from state oil companies in a bid to challenge the near total dominance of state firms in cooking gas distribution. (ET)
 
Maruti Suzuki will start transporting its cars through National Waterways-1 (on River Ganga) from Varanasi to Kolkata. (ET)
 
GE and L&T Hydrocarbon Engineering have entered into an exclusive memorandum of understanding for the manufacture of sub-sea manifolds which would be used for future deepwater projects in the Krishna-Godavari basin on the east coast of India. (BL)
 
Tata Chemicals has sold its struggling urea and customised fertiliser business to Yara Fertilisers India, a wholly-owned arm of Yara International ASA, for Rs26.70bn. (BL)
 
Ashoka Buildcon has received a letter of award for widening of a highway stretch in Punjab from NHAI at a bid cost of Rs16bn. (BS)
 
Steel Authority of India Ltd (SAIL) is looking to expand capacity of its Rourkela unit to 10mtpa up from 4.5mtpa now. (BS)
 
BGR Energy Systems Ltd has said that a Rs19.02bn contract with Damodar Valley Corporation for the Phase-II Raghunathpur Thermal Power Project has been terminated, as the project will not be executed. (BS)
 
L&T Finance Holdings said three of its wholly owned subsidiaries have entered into an amalgamation agreement in which two of the units will merge into the third one. (TOI)
 
GAIL India Ltd has placed orders for purchase of 315km steel pipes to carry fuel to shut fertiliser plants in Bihar. (ET)
 
A bill to provide tax incentives to the garment sector and enable the government to raise customs duty on marble and granite from 10 to 40% was approved by Lok Sabha. (BS)
 
SEBI allowed debt mutual funds to invest an additional 10% of their corpus in debt papers issued by housing finance companies (HFCs), over and above the sectoral cap of 25%. The move is aimed at channelising more funds into the affordable housing space, one of the focus areas for the government. Till now, debt funds were allowed to invest an additional 5% in debt papers issued by HFCs. (TOI)