Live Stock Market Updates - Nifty ends below 8,850

India Infoline News Service | Mumbai | October 17, 2016 15:30 IST

The NSE Nifty closed with a loss of 63 points at 8,520. The NSE Nifty opened at 8,613 hitting a high of 8,615 and low of 8,506.

Closing Bell:


Finally, the BSE Sensex ended with a loss of 144 points at 27,530. The BSE Sensex opened at 27,776 touched an intra-day high of 27,803 and low of 27,488.

The NSE Nifty closed with a loss of 63 points at 8,520. The NSE Nifty opened at 8,613 hitting a high of 8,615 and low of 8,506.

Live Market:

The Indian stock markets are trading flat to slightly higher on Monday despite mixed cues from other Asian markets. The Sensex opened 102.54 points, or 0.37% up at 27,776.14, while Nifty opened 29.55 points, or 0.34% up at 8,612.95.
 
The Sensex hit a 14-week low, while the Nifty hit its lowest level in more than 10 weeks. European stock markets were trading lower as investors remained cautious ahead of earnings, key data and a European Central Bank meeting later this week.

The Sensex and Nifty pared gain and turned choppy weighed down by losses in metal, auto, telecom, and capital goods stocks.

At 2:18 PM, the S&P BSE Sensex is trading at 27,5894 down 84 points, while NSE Nifty is trading at 8,539 down 45 points.

The BSE Mid-cap Index is trading down 0.59% at 13,341 whereas BSE Small-cap Index is trading down 0.14% at 13,159.

ICICI Bank, NTPC, Coal India, Tata Steel and SBI are among the gainers, whereas M&M, Hero MotoCorp, HDFC Bank and Asian Paints are losing sheen on BSE.

Some buying activity is seen in banking and consumer durables sectors, while auto, telecom, capital goods,IT, industrial and pharma are showing weakness on BSE.

The INDIA VIX is up 5.70% at 15.7375. Out of 1,889 stocks traded on the NSE, 900 declined, 726 advanced and 263 remained unchanged today.

A total of 86 stocks registered a fresh 52-week high in trades today, while 11 stocks touched a new 52-week low on the NSE.

UltraTech Cement slipped 0.74% to Rs 4009.  The company has posted a net profit after taxes and Minority interest of Rs 614 crore for the quarter ended September 30, 2016 as compared to Rs 490 crore for the quarter ended September 30, 2015. 

Ujaas Energy zoomed 4% to Rs 24.20 after the company has won order from Uttarakhand Renewable Energy Development Agency (UREDA) for Grid Interactive Rooftop & small Solar PV Power Plant of up to 5Kwp.

SBI advanced 1% to Rs 254.50. State Bank of India will divest up to 5% of its stake in its life insurance subsidiary SBI Life Insurance Co. Ltd.
 
Granules India gained 2%. The company informed BSE that Gagillapur facility located at Hyderabad, Telangana, India has successfully completed USFDA inspection without any observations. This facility manufactures Finished Dosages (FDs) and Pharmaceutical Formulation Intermediates (PFIs).

Vedanta inched up 0.43% to Rs 196. Vedanta has suspended mining operations at its Bicholim iron ore mine in Goa from Thursday due to labour unrest.

Cipla gained 0.59%. Cipla has signed a memorandum of agreement for South Africa's first biosimilars manufacturing facility to be set up at a cost of nearly USD 91 million.

NIIT Technologies dropped 4.4% to Rs 420.50. NIIT Tech reported better-than-expected revenue of Rs 692 crore in the September quarter helped by growth in its banking, financial services and insurance business (BFSI) business from the US.

Amtek Auto gained 2% to Rs 44.50. ICRA has downgraded rating for term loans of JMT Auto, a unit of ailing Amtek Auto Ltd (AAL), to 'BB-' from 'BB+', on adverse effect of the large-sized debt funded by foreign acquisitions.

Mawana Sugars gained 1.6%. Mawana Sugars has put its Titawi sugar mill on the block to bring down the debt and clear sugarcane dues to farmers.

Alok Industries jumped 2.4%. Alok Industries will seek protection from lenders as its plays to approach BIFR on grounds that 50% of its net worth has been wiped out as on March 2016.

Oil stocks is trading lower on the BSE. Petrol price was hiked by Rs 1.34 a litre and diesel by Rs 2.37 a litre on back of spike in global rates.

Lakshmi Vilas Bank rallied 3%. The bank will will announce its Q2 numbers today.

ICICI Bank zoomed 6.8% to Rs 258. Rosneft bought a 49% stake in Essar Oil's refinery port and petrol pumps, while Netherlands-based Trafigura Group Pteand Russian investment Fund United Capital Partnerssplit another 49% equity equally. The remaining 2% is held by minority shareholders after delisting of Essar Oil.  Rajiv Sabharwal the brain behind ICICI Bank's flourishing retail lending business has called it quits and will be replaced by ICICI veteran Anup Bagchi.

DCB Bank rallied 6.5%. The bank reported 31% year-on-year growth in the net profit to Rs 48.5 crore for the quarter ended September 30 compared with 36.9 crore reported in the year-ago perio
 

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