The domestic market fell for the fourth straight session as lenders pared most of their early gains to close lower along with software exporters while select energy and auto stocks made a comeback ahead of US Federal Reserve Chair Janet Yellen's testimony to the US Congress today. Yellen is likely to speak on the possible impact of US president-elect Donald Trump's policies and the outlook for inflation.
Though buying interest in select index majors pushed the index higher in the middle, it failed to hold at a higher level and again retraced to the day's low in the end.
Among the 50-stocks of Nifty, Tata Motors, Hindalco, Tata Motors DVR, Power Grid, GAIL, BHEL, Kotak Mahindra Bank and NTPC were among the gainers on NSE, whereas Ambuja Cement, Bharti Airtel, Zee, TCS, ACC and Asian Paints were among the losers today.
Finally, the BSE Sensex ended with a loss of mere 71 points at 26,228. The BSE Sensex opened at 26,305, touched an intra-day high of 26,450 and low of 26,155.
The NSE Nifty closed with a loss of 32 points at 8,080. The NSE Nifty opened at 8,105 hitting a high of 8,151 and low of 8,060.
Investors remained on the sidelines, keeping an eye on Parliament's winter session where the government is unlikely to bring three bills related to GST in the coming days, but it is hopeful of pushing them in the later half of the winter session.
Today’s decline was led by the telecom, IT, technology, auto and finance stocks, while utilities, power, oil & gas, pharma and consumer durables were among the gainers.
Indian Govt announced some new measures to ease the cash crunch caused by the move, including allowing farmers to draw money from banks against loans sanctioned to them.
Sentiments got some support with Moody’s Investors Service affirming India’s sovereign rating at ‘Baa3’ with a positive outlook, saying it expects policymakers to continue reforms to achieve balanced growth and reduce the government's debt load. Moody's further said that India's policy makers have taken important steps to strengthen the country's institutions.
The India VIX (Volatility) index was down 4.06% at 18.7100. Out of 1,506 stocks traded on the NSE, 999 declined and 471 advanced today. The BSE Midcap and Smallcap indices ended up.
The rupee was trading up 13 paise at 67.81 per US dollar.
On the global front, a drop in oil prices weighed on Asian markets on Thursday. Chinese shares headed for their third successive session of losses apprehending that the US Fed will raise rates in December. The Shanghai Composite index and Hong Kong’s Hang Seng index closed marginally lower. Nikkei 225 closed in green.
In Europe, the FTSE 100 was trading up by 0.2%. DAX and the CAC 40 were trading in red.
Lupin Ltd closed marginally higher on the BSE. The company announced that its US subsidiary, Gavis Pharmaceuticals LLC., U.S.A. (collectively Lupin) has received final approval for its Hydrocodone Bitartrate and Acetaminophen Tablets USP from the USFDA to market a generic equivalent of Mikart, Inc's Hydrocodone Bitartrate and Acetaminophen Tablets.
IT stocks dropped 1.4% on the BSE after Nasscom said on Wednesday that India’s software services industry will grow at a slower pace than estimated earlier. Nasscom now expects the IT exports to grow between 8% to 10% in the current fiscal, slower than the earlier projection of 10 to 12%. TCS tanked 2.5%, HCL Tech and Wipro closed down 1.5% each, while Infosys slipped 1.3%.
Bharti Airtel dropped 4.3%. Bharti Airtel announced completion of the merger of its subsidiary Bangladesh telecom unit with Robi Axiata Limited.
Greenply Industries jumped 6%. The company informed on BSE that MSCI has announced changes to its constituents for the MSCI Global Small Cap Indices as part of the change. Change in constituents for the MSCI Global Small Cap indices will take place at the close of November 30, 2016.
Indraprastha Gas rose 2.2%. The company posted a net profit of Rs 144 crore for the quarter ended September 30, 2016 as compared to Rs 102 crore for the quarter ended September 30, 2015.
Voltas fell 7.8%. The company reported 7% increase in consolidated net profit at Rs 72 crore for the quarter ended on September 30, 2016. It had posted a net profit of Rs 67 crore in the July-September quarter a year ago.
Shipping Corporation of India tanked 8% after the company posted standalone net loss of Rs 20 crore for the second quarter ended September 30, 2016-17. The company had posted standalone net profit of Rs 162 crore in the July-September quarter of the 2015-16 fiscal.
Engineers India soared 2.6% to Rs 265. Engineers India reported a 21% jump in net profit in the September quarter at Rs 94 crore as compared to Rs 77 crore in the same period a year before, and declared a 1:1 bonus share.
Axis Bank advanced 0.50% to Rs 474. The bank has cut marginal cost of fund-based lending rate (MCLR) by 0.15-0.20%.
A total of five stocks registered a fresh 52-week high in trade today, whereas 53 stocks touched a new 52-week low on the NSE.
Though buying interest in select index majors pushed the index higher in the middle, it failed to hold at a higher level and again retraced to the day's low in the end.
Among the 50-stocks of Nifty, Tata Motors, Hindalco, Tata Motors DVR, Power Grid, GAIL, BHEL, Kotak Mahindra Bank and NTPC were among the gainers on NSE, whereas Ambuja Cement, Bharti Airtel, Zee, TCS, ACC and Asian Paints were among the losers today.
Finally, the BSE Sensex ended with a loss of mere 71 points at 26,228. The BSE Sensex opened at 26,305, touched an intra-day high of 26,450 and low of 26,155.
The NSE Nifty closed with a loss of 32 points at 8,080. The NSE Nifty opened at 8,105 hitting a high of 8,151 and low of 8,060.
Investors remained on the sidelines, keeping an eye on Parliament's winter session where the government is unlikely to bring three bills related to GST in the coming days, but it is hopeful of pushing them in the later half of the winter session.
Today’s decline was led by the telecom, IT, technology, auto and finance stocks, while utilities, power, oil & gas, pharma and consumer durables were among the gainers.
Indian Govt announced some new measures to ease the cash crunch caused by the move, including allowing farmers to draw money from banks against loans sanctioned to them.
Sentiments got some support with Moody’s Investors Service affirming India’s sovereign rating at ‘Baa3’ with a positive outlook, saying it expects policymakers to continue reforms to achieve balanced growth and reduce the government's debt load. Moody's further said that India's policy makers have taken important steps to strengthen the country's institutions.
The India VIX (Volatility) index was down 4.06% at 18.7100. Out of 1,506 stocks traded on the NSE, 999 declined and 471 advanced today. The BSE Midcap and Smallcap indices ended up.
The rupee was trading up 13 paise at 67.81 per US dollar.
On the global front, a drop in oil prices weighed on Asian markets on Thursday. Chinese shares headed for their third successive session of losses apprehending that the US Fed will raise rates in December. The Shanghai Composite index and Hong Kong’s Hang Seng index closed marginally lower. Nikkei 225 closed in green.
In Europe, the FTSE 100 was trading up by 0.2%. DAX and the CAC 40 were trading in red.
Lupin Ltd closed marginally higher on the BSE. The company announced that its US subsidiary, Gavis Pharmaceuticals LLC., U.S.A. (collectively Lupin) has received final approval for its Hydrocodone Bitartrate and Acetaminophen Tablets USP from the USFDA to market a generic equivalent of Mikart, Inc's Hydrocodone Bitartrate and Acetaminophen Tablets.
IT stocks dropped 1.4% on the BSE after Nasscom said on Wednesday that India’s software services industry will grow at a slower pace than estimated earlier. Nasscom now expects the IT exports to grow between 8% to 10% in the current fiscal, slower than the earlier projection of 10 to 12%. TCS tanked 2.5%, HCL Tech and Wipro closed down 1.5% each, while Infosys slipped 1.3%.
Bharti Airtel dropped 4.3%. Bharti Airtel announced completion of the merger of its subsidiary Bangladesh telecom unit with Robi Axiata Limited.
Greenply Industries jumped 6%. The company informed on BSE that MSCI has announced changes to its constituents for the MSCI Global Small Cap Indices as part of the change. Change in constituents for the MSCI Global Small Cap indices will take place at the close of November 30, 2016.
Indraprastha Gas rose 2.2%. The company posted a net profit of Rs 144 crore for the quarter ended September 30, 2016 as compared to Rs 102 crore for the quarter ended September 30, 2015.
Voltas fell 7.8%. The company reported 7% increase in consolidated net profit at Rs 72 crore for the quarter ended on September 30, 2016. It had posted a net profit of Rs 67 crore in the July-September quarter a year ago.
Shipping Corporation of India tanked 8% after the company posted standalone net loss of Rs 20 crore for the second quarter ended September 30, 2016-17. The company had posted standalone net profit of Rs 162 crore in the July-September quarter of the 2015-16 fiscal.
Engineers India soared 2.6% to Rs 265. Engineers India reported a 21% jump in net profit in the September quarter at Rs 94 crore as compared to Rs 77 crore in the same period a year before, and declared a 1:1 bonus share.
Axis Bank advanced 0.50% to Rs 474. The bank has cut marginal cost of fund-based lending rate (MCLR) by 0.15-0.20%.
A total of five stocks registered a fresh 52-week high in trade today, whereas 53 stocks touched a new 52-week low on the NSE.
