Live Stock Market Updates - Nifty shuts below 8800 mark

India Infoline News Service | Mumbai | September 20, 2016, 15:30 IST

The NSE Nifty closed with a loss of 33 points at 8,776. The NSE Nifty opened at 8,816 hitting a high of 8,816.45 and low of 8,759.

Stock market crash
Closing Bell:

Finally, the BSE Sensex ended with a loss of 111 points at 28,523. The BSE Sensex opened at 28,691 touched an intra-day high of 28,699 and low of 28,481.

The NSE Nifty closed with a loss of 33 points at 8,776. The NSE Nifty opened at 8,816 hitting a high of 8,816.45 and low of 8,759.

Live Market:

The Indian equity market snapped a four-day winning streak ahead of Wednesday policy decisions by the Bank of Japan and the U.S. Federal Reserve. The NSE Nifty broke below the 8,800-mark. European stocks retreated, after rising the most in two weeks as investors awaited the Federal Reserve’s Wenesday meeting, and energy producers slid with oil.

The BSE Sensex opened 56.16 points, or 0.20 per cent, up at 28,690.66, while Nifty opened 7.70 points up at 8,816.10.

At 2:03 PM, the S&P BSE Sensex is trading at 28,501 down 133 points, while NSE Nifty is trading at 8,771 down 37 points.

The BSE Mid-cap Index is trading down 0.04% at 13,126 whereas BSE Small-cap Index is trading down 0.24% at 12,801.

Dr. Reddy's, ONGC, Maruti Suzuki, Cipla, M&M, Asian Paints and GAIL are among the gainers, whereas Hero MotoCorp, Bharti Airtel, Adani Ports and Infosys are losing sheen on BSE.

Some buying activity is seen in oil & gas, pharma, consumer discretionary and auto sectors, while telecom, metal, power, banking, finance and FMCG sectors are showing weakness on BSE.

The INDIA VIX is down 0.48% at 14.8675. Out of 1,865 stocks traded on the NSE, 957 declined, 607 advanced and 301 remained unchanged today.

A total of 47 stocks registered a fresh 52-week high in trades today, while 18 stocks touched a new 52-week low on the NSE.

Castrol India Ltd rallied 8.3% on the BSE. Castrol India witnessed a series of block deals on Tuesday, in which around 42.20 million shares or 8.5% stake in the company changed hands.

Jubilant FoodWorks tumbled 6.4%. The company said its CEO and whole-time director Ajay Kaul will resign to pursue opportunities outside the company.

Cadila Healthcare climbed 2.3%. Zydus Cadila and Takeda Pharmaceutical Company announced a partnership to tackle chikungunya, an emerging infectious disease.

 IFCI zoomed 4.4%. The company will sell its entire stake in Assets Care and Reconstruction Enterprise Limited (ACRE) to Axis Bank for Rs 22.72 crore.

GTL Infrastructure Ltd jumped 12.8% to Rs.2.81 on the BSE. The company has informed BSE that the company is a part of the Global Group (being Global Holding Corporation Pvt. Ltd, GTL Limited, the Company and Chennai Network Infrastructure Limited (CNIL) and together with its affiliate company, CNIL, owns and operates an independent telecom tower network, with over 27,000 towers and over 45,000 tenancies pan India. The company has invested Rs.1,800 crores in CNIL.

Hotel Leela Venture zoomed 3%. The company gets shareholder approval for sale/transfer of The Leela Palace, Chennai and/or The Leela Palace, New Delhi.

K P R Mill Ltd gained 1.8%. The Board of Directors meeting of the Company is scheduled to be held on October 5, 2016, inter alia, to consider the subdivision of Equity Shares of the Company of face value of Rs. 10 each. The company to amendment to Capital Clause of Memorandum of Association for the above.

Mangalam Cement Ltd rose 3.6% after the company has commenced Commercial Production of the New Cement Grinding Unit with a capacity of 0.75 Million Tons Per Annum (MTPA) at Aligarh, Uttar Pradesh. The overall capacity is now enhanced from 3.25 MTPA to 4.00 MTPA.

Den Network soared 3.4% to Rs.81.05. The company said that its board has approved the allotment of 1.58 crore shares on preferential basis to affiliates of the Goldman Sachs Group that form part of the persons belonging to the non-promoter category.

Bharat Rasayan climbed 11.8% to Rs.1,660 after the company said it reported a net profit of Rs.14.52 crore in June quarter, up 76.45% from Rs.8.23 crore a year ago. Net sales rose 46% to Rs.166.25 crore.

Mindteck rallied 16.6% to Rs.91.50 after the compamy announced that it has implemented a smart parking pilot project at Connaught Place, C Block, New Delhi, for New Delhi Municipal Corporation (NDMC).

The rupee opened lower two paise at 66.97/$ against US Dollar Tuesday as against the previous close of 66.95/$.

Asian markets opened slightly lower. Stocks in Japan re-opened mixed after being closed on Monday for a public holiday. Tokyo markets will be closed for another holiday on Thursday, with the highly-anticipated BOJ meeting sandwiched in between the market closures. Shanghai Composite and Hang Seng are trading in red, while Nikkei 225 up 0.11%.

Wall Street closed mostly flat on Monday after a choppy session, as investors geared up for two key central bank meetings. The Dow Jones industrial average fell 0.02% to close at 18,120.17 points. The S&P 500 fell less than a point and the Nasdaq fell 0.18% to end at 5,235.03 points. US crude oil futures slipped 0.2% to USD 43.22 a barrel, moving further away from overnight highs. Brent edged 0.1% lower to USD 45.91.

Market participants are awaiting the US Federal Reserve's Open Market Committee meeting scheduled on September 20-21, with Janet Yellen holding a news conference on Wednesday.

Moody’s Investor Service said that it saw the asset quality cycle bottoming out in Indian banks, indicating a stable outlook for the sector.

On the economy front, the finance ministry has invited applications for the post of chairman of the capital and commodities market regulator Securities and Exchange Board of India (Sebi). The tenure of current chairman U.K. Sinha ends on 1 March 2017.

Read More: Top 13 stocks in focus today: Dr Reddys Lab, Jubilant FoodWorks, Karur Vysya Bank

Opening Bell - Nifty above 8800 mark

Pre-Market- Sensex, Nifty to open on a flat note
 

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