Live Stock Market Updates - Nifty settles below 8,850 mark

India Infoline News Service | Mumbai | September 23, 201615:32 IST

Finally, the BSE Sensex ended with a loss of 105 points at 28,668. The BSE Sensex opened at 28,810 touched an intra-day high of 28,825 and low of 28,627.

Nifty Downside
Closing Bell:
Finally, the BSE Sensex ended with a loss of 105 points at 28,668. The BSE Sensex opened at 28,810 touched an intra-day high of 28,825 and low of 28,627.

The NSE Nifty closed with a loss of 36 points at 8,832. The NSE Nifty opened at 8,881 hitting a high of 8,885 and low of 8,820.

Live Market:

The domestic market opened flat and turned negative in lacklustre morning trade. The Nifty50 was hovering around its key 8,850 level.

At 11:33 AM, the S&P BSE Sensex is trading at 28,766 down mere six points, while NSE Nifty is trading at 8,869 up mere two points.

The BSE Mid-cap Index is trading up 0.64% at 13,379 whereas BSE Small-cap Index is trading up 0.61% at 13,028.

RIL, L&T, Dr.Reddy's, M&M, TCS, Coal India, Sun Pharmaceuticals and Adani Ports are among the gainers, whereas Axis Bank, Tata Motors, Infosys, Bharti Airtel and GAIL are losing sheen on BSE.

Some buying activity is seen in realty, consumer durables, capital goods, energy and pharma sectors, while banking and FMCG sector are showing weakness on BSE.

The INDIA VIX is up 0.20% at 13.3675. Out of 1,865 stocks traded on the NSE, 656 declined, 852 advanced and 357 remained unchanged today.

A total of 32 stocks registered a fresh 52-week high in trades today, while 13 stocks touched a new 52-week low on the NSE.

IRB Infrastructure Developers Ltd is currently trading at Rs. 256.85, up by Rs. 7.25 or 2.9% from its previous closing of Rs. 249.6 on the BSE. The scrip opened at Rs. 250.5 and has touched a high and low of Rs. 257 and Rs. 249.55 respectively. So far 2259996(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 8772.19 crore.

Morepen Laboratories Ltd  is currently trading at Rs. 27.85, up by Rs. 3.05 or 12.3% from its previous closing of Rs. 24.8 on the BSE. The company is in talks with Ajay Piramal Group to sell its OTC (over-the-counter) business of market leading brands such as Burnol as it plans to monetise some of its mainstream brands when larger rivals look to expand their consumer product portfolio, as per media reports.

Suzlon Group, one of the leading renewable energy solutions providers in the world, today announced that it has been awarded orders for a combined capacity of 111.30 MW between August to September 2016. Suzlon Energy Ltd is currently trading at Rs. 16.15, up by Rs. 0.3 or 1.89% from its previous closing of Rs. 15.85 on the BSE.

GTL Infrastructure dropped 4% after as lenders to the company have accepted its proposal to convert some part of the debt into equity under the strategic debt restructuring (SDR) scheme,as per media reports.

Bharat Financial Inclusion rallied 3.7% after the company has informed BSE that the meeting of the Capital Raising Committee of the Board will be held on September 27, 2016 to consider and approve the issue price for the Equity Shares proposed to be issued pursuant to the Offer in accordance with the Chapter VIII and other applicable provisions of the SEBI Regulations and Section 42 of the Companies Act, 2013, as amended, read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014, as amended.

Axis Bank Ltd is currently trading at Rs. 569.5, down by Rs. 22.45 or 3.79% from its previous closing of Rs. 591.95 on the BSE.

Lincoln Pharmaceuticals zoomed 4% to Rs.246. The company has launched Ondansetron oral spray, used for treatment of nausea and vomiting caused by surgery or cancer drugs, in the Indian market.

Vedanta gained 1.7% has signed the concession agreement for Rs11.45bn redevelopment project of the Mormugao port in Goa.

Wipro is trading marginally higher on the BSE. Wipro Consumer Care and Lighting’s Singapore arm has agreed to buy Zhongshan Ma Er Daily Products Ltd, a Chinese fast-moving consumer goods (FMCG) company, for an undisclosed amount in an all-cash transaction.

InterGlobe Aviation climbed 2.6%. The parent of no-frills airline IndiGo, has received shareholders' approval to increase its borrowing limit to Rs.20,000 crore.

Reliance Defence and Engineering Ltd gained 1.3% after the company it has won a contract for undertaking refit works of Indian Navy vessels at its facility at Pipavav in Gujarat.

Asian markets opened mixed on Friday. Shanghai Composite and Nikkei 225 are in red, while Hang Seng is trading marginally up.

Wall Street closed higher on Thursday, with the Nasdaq having another record-setting session. The Dow Jones industrial average gained 0.54% to close at 18,392.46 points. The Nasdaq advanced 0.84% to close at 5,339.52 points.

On the political front, the GST will be rolled out on 1 April, members at the first meeting of the GST council decided by consensus on Thursday. The government expects to mobilise more than Rs8.20bn from the fifth tranche of Sovereign Gold Bond (SGB) scheme, and the next tranche will be launched with more attractive features before Diwali.

The government has named three outside experts as members of the Monetary Policy Committee (MPC) of the Reserve Bank of India, moving to a model followed in the developed world. The six-member MPC—the other three members are from the RBI—will conduct its first monetary policy review on 4 October, Urjit Patel’s first as RBI governor.

The rupee opened lower by three paise at 66.69/$ against US Dollar Friday as against the previous close of 66.66/$.

Read More: Opening Bell: Sensex, Nifty flat in early trade
Pre-Market: Flat start for Sensex, Nifty
Top 13 stocks in focus today: Vedanta, Wipro, InterGlobe Aviation


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