The Indian stock markets extended their record-breaking spree today led by gains in blue-chip stocks such as HDFC, ITC and Reliance Industries. The Sensex rose to record closing high of 31,109 and Nifty closed above its important psychological level of 9,600 for the first time. In the intraday deals, the Sensex and Nifty traded on a volatile note with Sensex rising as much as 186 points at day’s highest point and falling over 150 points at day’s lowest level. Today’s session was highly volatile as recent outperformers from banking, capital goods, power and realty stocks fell on account of profit-booking, while, pharma and IT shares continued their underperformance.
From the Nifty basket of shares, 25 stocks ended lower while 26 ended higher. Power Grid, Cipla, HDFC, ITC, Indiabulls Housing Finance, Bharti Infratel, ITC and Indiabulls Housing Finance were among the gainers. On the other hand, Tech Mahindra, Sun Pharma, Adani Ports, Aurobindo Pharma, Yes Bank and Bank of Baroda were among the losers.
The broader markets witnessed heavy selling pressure. The BSE mid-cap index plunged 1 per cent and the small-cap index fell 1.5 per cent.
The overall market breadth was extremely bearish as 1,799 shares closed lower while 860 closed higher on the BSE.
Here are the key highlights of today’s session:
3:06 pm: The Sensex and Nifty turned flat in last 30 minutes of trade as selling pressure intensified in banking, realty and power shares on accounts of profit-booking. The Sensex was up 70 points at 31,098 and Nifty jumped 6 points to 9,600.
3:00 pm: The overall market breadth was extremely negative as 1,726 shares were declining while 892 were advancing on the BSE.
2:52 pm: NTPC reports net profit of Rs. 2,079 crore against estimate of Rs. 2,511 crore, shares fall 1.2 per cent to Rs. 154.
2:46 pm: Banking shares were witnessing selling pressure. The BSE Bankex was down 0.65 per cent; ICICI Bank, Yes Bank, State Bank of India, Axis Bank, Federal Bank and Bank of Baroda were among the losers.
2:14 pm: Stock markets extend gains in late noon deals on the back of buying in bluechip shares like Reliance Industries, HDFC, ITC, HDFC Bank and Hindustan Unilever. The Sensex was up 180 points at 31,208 and Nifty was at 9,634, up 39 points.
2:06 pm: Shares of tractor maker Escorts Ltd jumped as much as 5 per cent to hit fresh 52-week high of Rs. 674.80 after company reported that its net profit in the March quarter rose to Rs. 59.48 crore from Rs. 18.38 crore during the same period last year.
1:51 pm: Sensex rises over 100 points to 31,137 in choppy trade and Nifty trades firmly above 9,600.
1:32 pm: Shares of Navneet Education jumped as much as 8.3 per cent to hit intraday high of Rs. 182 after the company today reported that its net profit in the March quarter rose to Rs. 16.86 crore from Rs. 12.64 crore during the same period last year.
1:21 pm: Wockhardt Pharma was the top gainer from the mid-cap space, up 6.2 per cent at Rs. 623. Divis Labs, M&M Financial Services, Tata Communications, Colgate Palmolive, UPL, Blue Dart and Indiabulls Housing Finance were also among the gainers.
12:44 pm: From the Nifty basket of shares, 30 were trading higher while 21 were trading lower. Cipla, Hindustan Unilever, ITC, Power Grid, HDFC, Indiabulls Housing Finance and Larsen & Toubro were among the gainers.
12:29 pm: Shares of Reliance Anil Dhirubhai Ambani Group companies trade with a negative bias on the stock exchanges. Reliance Communications was the top loser from this space, down 20 per cent at Rs. 19.70. Reliance Infrastructure, Reliance Capital and Reliance Power were also among the losers, down 6-8 per cent each.
12:14 pm: Jewellery shares surge in trade today. Gitanjali Gems, Tribhovandas Bhimji Zaveri, Tata Jewels, WInsome Diamonds and Titan Company were among the gainers.
11:55 am: Realty shares witness heavy selling pressure. The BSE Realty index was down 3 per cent; DLF was the top loser from this space, down 6.6 per cent at Rs. 182. Unitech, HDIL, Godrej Properties, Indiabulls Real Estate Unitech, Sobha Ltd, Prestige Estate and Phoenix were also among the losers.
11:43 am: The overall market breadth was extremely bearish as 1,549 shares were declining while 817 were advancing on the BSE.
11:10 am: Metal stocks witness buying interest for third session in a row. The BSE Metals index was up 0.4 per cent led by gains in Vedanta, Hindalco, Tata Steel, SAIL, NALCO and NMDC.
10:44 am: Shares in mobile carrier Reliance Communications Ltd fell as much as 20 percent to an all-time low on Monday, after it reported a $150 million fourth-quarter loss and worries about its heavy debt load resurfaced.
The company, controlled by billionaire Anil Ambani, over the weekend posted its second straight quarterly loss, dragged down by a price war in what is the world’s second-biggest mobile market by number of users.
10:26 am: CG Power and Industrial Solutions was the top loser in the small-cap space, down 11 per cent at Rs. 82.95. Sarla Performance Fibres, Satin Crditcare, MBL Infra, JP Associates, NRB Bearings
and Indian Terrain were also among the losers.
10:03 am: PSP Projects made a weak debut on stock exchanges, the stock fell 9.5 per cent to Rs. 190. PSP Projects raised Rs. 212 crore by offering shares at Rs. 210.
10:01 am: Shares of India’s fifth-biggest software services provider Tech Mahindra tanked as much as 17 per cent to Rs. 357 as soon as the market opened today, eroding investor’s wealth by nearly Rs. 7,000 crore as it reported lower-than-expected fourth-quarter profit. Tech Mahindra’s profit fell 33 per cent annually to Rs. 590 crore in the January- March quarter, weighed down by weak margins and higher cost of services. Analysts polled by Reuters had expected Tech Mahindra to post consolidated profit of Rs. 783 crore. Tech Mahindra had reported its quarterly numbers after market hours on Friday.
9:53 am: The broader markets came under selling pressure with the BSE mid-cap and small-cap indices down 0.5 per cent each. Reliance Communications was the top Nifty loser, down 10 per cent at Rs. 23.35. Ajanta Pharma, Reliance Capital, Reliance Infrastructure, Adani Power, Reliance Power, Indian Hotels, GMR Infrastructure and JSW Energy were also among the losers, down 4.-7 per cent each.
9:46 am: Shares of India’s biggest drug maker Sun Pharma fell as much as 13 per cent to hit intraday high of Rs. 493 after Sun Pharma reported weak set of March quarter earnings. Sun Pharma’s net profit fell 14 per cent to Rs. 1,223 crore on pricing pressure in US.
9:33 am: From the Nifty basket of shares, 29 were trading higher while 22 were trading lower. Sun Pharma was the top Nifty loser, down 12.6 per cent at Rs. 496 after the company reported weak March quarter earnings. Tech Mahindra also slumped 11 per cent on March quarter disappointment. Aurobindo Pharma, Adani Ports, Yes Bank, Lupin, ICICI Bank, Tata Motors, ONGC, Wipro, Bajaj Auto and Dr Reddy’s Labs were also among the losers. On the other hand, HDFC, Hindalco, Indiabulls Housing Finance, Vedanta and BPCL were among the gainers.
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