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Sensex closes 230 pts down, Nifty at 11,301; NTPC, Reliance Communications, BPCL top losers

 Indian equity market extended losses for the seventh consecutive session on Thursday led by decline in Power, Pharma, Energy indices. Escalated trade tensions between China and the US also prompted investors to remain cautious throughout the trading session.

twitter-logo BusinessToday.In        Last Updated: May 9, 2019  | 16:08 IST
Sensex closes 230 pts down, Nifty at 11,301; NTPC, Reliance Communications, BPCL top losers
Sensex closed at 37,558.91, down by 230.22 points and Nifty closed in the red by declining 57.65 points down to 11,301.80.

Share Market Updates: Benchmark indices ended lower on Thursday for the seventh straight session led by decline in Power, Pharma, Energy indices. Escalated trade tensions between China and the US also prompted investors to remain cautious throughout the trading session.

Sensex closed at 37,558.91, down by 230.22 points and Nifty closed in the red by declining 57.65 points down to 11,301.80. Of 30 stocks in Sensex, 18 closed in the red and 27 out of Nifty50 were declining in the last hour of trade.

At the closing session, market breadth was negative, indicated by 0.73 advance-decline ratio on NSE, with 694 advances against 953 declines and 79 unchanged stocks. Similarly BSE AD ratio stood at 0.78, indicating 1082 advancing stocks against 1385 declining ones while 154 stocks were unchanged.

On the sectoral front, Energy sector fell the most, over 2 per cent followed by Metal, Oil & Gas, Telecom and Power indices each falling over 1 per cent. Healthcare, Industrial, Finance and Utilities indices were also down by 0.50 per cent each. In the advancing sectors, Media gained 1.66 per cent followed by IT, FMCG and PSU Bank indices each gained over 1 per cent.

Here's a look at live updates for the Indian share market today:

Closing session

3:45 pm

Sensex closed at 37,558.91, down by 230.22 points and Nifty closed in the red by declining 57.65 points down to 11,301.80. Of 30 stocks in Sensex, 18 closed in the red and 27 out of Nifty50 were declining in the last hour of trade.

Global Market Update

3: 30 pm

Indian market declined nearly 1% and fell today's low after a soft opening in the European markets. Concern of the global trade war between US-China. FTSE, CAC and DAX Index slipped 1% each.

Hong Kong Index nosedived 692 points or 2.5% and China Index slipped 1.5%. US Future extent declined nearly 1% or 240 points. US Future slipped 200 points or 0.8%, whereas Brent Crude declined half percent at $70/bbl. Indian Rupee has gained 23 paisa or 0.33 per cent at 69.94 against the dollar.

Deepak Fertilizer plan to issue FCCB  worth $30mn

3: 15 pm

The company on May 8,has approved the date of opening of the issuance of Foreign currency convertible bonds (FCCBs) to IFC with  floor price of Rs 130.59 a share at the Rs 139.59.

As per the BSE filing, "The Securities Issue Committee Meeting of Smartchem Technologies Limited (STL) was held today i.e. May 8, 2019 2019 inter alia to approve the terms and conditions for issue of Foreign Currency Convertible Bonds (FCCBs) aggregating to Rs 210 cr, (US$ 30 Million) in two equal tranches by the Company and approval of the execution of Agreements relating thereto. The Committee accordingly approved the aforesaid."

Reliance Industries' Mcap takes a hit of $10 bn in 4 days

3: 05 pm

Since May 3, RIL shares have lost more than 10 per cent, taking the overall market capitalisation loss to more than USD 10 billion during this period. Brokerage firm Morgan Stanley downgraded the Mukesh Ambani-led company to "equal-weight" with price target of Rs 1,349 per share.

Read full report here: Reliance Industries' market cap takes a hit of $10 bn in 4 days as shares fall

Market Update

2: 45 pm

Currently Sensex is trading down by 123 at 37,665 and Nifty is trading 28 points down at 11,330. Market has fallen by 0.24 per cent while the volumes have fallen by 0.20 per cent. Nifty has been losing for 7 staright session at the rate of 3.64 per cent.

Apollo Tyres Results Out

2: 30 pm

Profit is 57.5 per cent down at Rs 839.98 million in Q4FY19 as compared to Rs 1979 million earned in the same quarter a year ago.EBITDA margin has contracted as well to 290 bps y-o-y.

The stock is trading down by 4 per cent at Rs 184 on the BSE.

Tata Communications falls after Q4 results

2: 20 pm

Shares of Tata Communications Ltd fell 3.28 per cent to Rs 540.65. Income from operations, stood at Rs 4,243.5 crore, up 5 per cent y-o-y The company's March-quarter loss widened to Rs 198 cr from Rs 120 cr y-o-y. "PAT (profit after tax) loss for the quarter was at Rs 198.8 crore due to equity loss pick up in STT, Singapore data centre business to the tune of Rs 173 crore," the company said in a statement.

The stock is trading 4.73% away from 52 low of Rs 6,324.35.

Maruti Suzuki releases production figures for month of April

2: 00 pm

Maruti Production is down by 9.6 per cent, from 163, 368 units achieved in April 2018 against 147, 669 units produced in April 2019.

Utility vehicles production is at gain of 8.4 per cent from 22,607 in April 2018 to 24,516 units this April. Total Passenger vehicle production is decreased from 161,370 units to 144,702 units and light commercial vehicle production is up 48 per cent, from 1,998 units to 2,967 units this April.

Maruti shares are trading at Rs 6647, up 15.25 points or 0.23 per cent on BSE.

Jindal steel and power wins Rail Contracts worth Rs. 665 crore From Rail Vikas Nigam

1: 40 pm

Jindal Steel & Power Limited (JSPL), India's only private manufacturer of rails, has won an order from Rail Vikas Nigam Limited (RVNL) to supply 89042 tonnes of UIC 60 kg IRS T-12 880 grade 13 meter rails for its upcoming projects. The order is valued at approximately Rs. 665 crore.

YES Bank surges despite Rating Downgrade

1: 20 pm

India Ratings on May 8 downgraded YES Bank's long-term ratings to 'IND AA' with negative outlook. The development comes a day after Icra rating agency Icra lowered the bank's rating as well. Despite that, YES bank shares have snapped its two-day losing streak, as the share price gained 6.18 per cent and touched an intra-day high of Rs 170.70 against previous closing price of Rs 160.75 on the Bombay Stock Exchange.

Read full report here: Yes Bank snaps two-day losing streak, share jumps 6% despite downgrade by India Ratings

Vodafone IDEA founders pledge 44.39% of the company to group of banks

12: 55 pm

As per the filing on BSE, "Vodafone Promoters Shareholders collectively hold 12,755,576, 455 quity shares comprising approximately 44.39 per cent of the equity share capital."

In relation to financial arrangements of the Vodafone companies, pledge of shares have been created with HSBC Corporate Trustee Company, based in UK , to be the acting security trustee.

The stock currently trades at Rs 14.25, down 0.70 per cent on BSE.

Read full report here: Vodafone pledges entire stake in VodaIdea with 7 foreign banks soon

Larsen & Toubro Wednesday bought shares of Mindtree

12: 35 pm

Infrastructure major Larsen & Toubro Wednesday bought shares of Mindtree worth about Rs 368 crore or 2.28% stake through open market transactions.

Read full report here: L&T buys over 37.53 lakh shares of Mindtree worth Rs 368 crore via open market transactions

Balrampur Chini buyback offer to open on May 16 and closes on May 26

12: 25 pm

Company yesterday submitted Letter of offer for Buyback of equity shares of the company to be dispatched to the shareholders. "Buyback Offer opens on Thursday, May 16, 2019 and closes on Wednesday, May 29, 2019," company added in the BSE filing.

The stock was on the top gainers on BSE in the opening session today. It is currently trading at Rs 143.85 on BSE and at Rs 144 on NSE, up 2 per cent, with intraday high at Rs 145.35.

Varun Beverages posts positve figures for Q4

12: 15 pm

Company's profit has surged more than 118% y-o-y, from Rs 18.6 cr a year ago to Rs 40.6 cr in March quarter Revenue has increased from Rs 1,122 cr to Rs 1,381 cr in y-o-y at 23 per cent hike. EBITDA has also jumped from Rs 173 cr to Rs 218 cr in the March quarter, up 26.4 per cent.

Market Outlook

11: 55 am

Nifty has been consequtively falling for 7 staright sessions at the rate of 3.64 per cent. Energy index is falling at 1.82 per cent, followed by Power and Oil & Gas each declining over 1 per cent. On the contrary, Media index has gained over 2 per cent.

YES Bank rating outlook

11: 35 am

India Ratings on May 8 downgraded YES Bank's long-term ratings to 'IND AA' with negative outlook. The development comes a day after Icra rating agency Icra lowered the bank's rating as well.

Titan Company posts positive Q4 figures

11: 15 am

Tata Group firm Titan Company Wednesday posted a 14.41 per cent increase in consolidated net profit at Rs 348.30 crore for the the fourth quarter of 2018-19. Consolidated revenue also rose to Rs 4,888.77 crore versus Rs 4,107.22 crore YoY.

Read full report here: This Tata Group firm has turned Rs 1 lakh investment to Rs 26 lakh in 10 years

Read full report here: Tata Group firm Titan's Q4 net up 14% at Rs 348 crore

TVS Motor to make investment in Tagbox Solutions

11: 00 am

TVS Motor Company is making an shares are acquired; investment of approximately INR 11.2 crores in Tagbox Solutions Private Limited, India and TVS Motor Company's wholly owned subsidiary in Singapore is making an investment of USD 2.25 million in Tagbox Pte. Ltd., Singapore.

Tagbox is helping organizations make their supply chains more reliable with solutions that lie at the intersection of internet of things based monitoring, automation and machine Learning.

Lupin and Aptissen announce exclusive distribution agreement of Synolis VA for Canada

10: 45 am

Lupin Limited (Lupin) and Aptissen S.A. (Aptissen) announced that they have entered into a definitive distribution agreement under which Aptissen has granted Lupin the exclusive rights to market, distribute and sell the current Aptissen products in Canada. This includes immediate rights to distribute Synolis VA for the treatment of Osteoarthritis. Based on Statistics Canada, Osteoarthritis affects more than 10% of Canadians aged 15 or older.

ZEE Entertainment Bulk Deal

10: 35 am

Catalyst Trusteeship has sold 86,00,000 shares of the company at Rs 342.33 apiece on NSE, bulk deal data showed.

Biocon Retains Economic Interest in Global Commercialization of Hulio, (biosimilar Adalimumab) inlicensed by Mylan

10: 30 am

"Following the successful approval and European launch of Hulio, (biosimilar Adalimumab) in-licensed by our partner My/an from Fujifilm Kyowa Kirin Biologics, the commercialization rights have been extended from Europe to Global Markets. Biocon, under the terms of its global partnership with My/an for monoclonal antibodies, retains its economic interest in this expanded in-licensing arrangement and will gain a share of profits from Global Markets. Biocon is committed to enable patient access to affordable biosimilars and this partnership accelerates that process."- Biocon Spokesperson

P&G Hygiene March quarter figures

10: 20 am

The net profit has risen 8.3% at Rs 90.1 cr against Rs 83.2 cr achieved in the corresponding quarter a year ago.the company's revenue has also increased 22.9% at Rs 699.3 cr against Rs 569 cr. EBITDA up 7.3% at Rs 143.6 cr against Rs 134 cr & margin at 20.5% against 23.5% year-on-year.

Dhanlaxmi Bank Q4 results

10: 10 am

Net profit of the bank stands at Rs 27.6 cr against the loss of Rs 17.2 cr Y-o-Y. NII is up 1.5 per cent to Rs 87 cr versus 86 cr achieved a year ago for the same quarter.

Bank's Gross Non-Performing Assets have also reduced 2.4 per cent from Rs 508 cr in March quarter 2018 to Rs 496 cr this quarter. Net NPA has decreased from Rs 173 cr in the corresponding quarter a year ago to Rs 152 cr.

Rain Industries Q4 outcome

9: 55 am

Rain Industries has declared their Q4 figures yesterday. The Net profit of the company has dipped more than 70 per cent to Rs 68.8 cr this quarter, compared to Rs 251 cr, acheived in the corresponding quarter a year ago. Company's reveune is down by 3.3 per cent from Rs 3,306 cr in the March quarter a year ago to Rs 3,196.5 cr this quarter and EBITDA margin is down more than 800 bps on a yearly basis.

Sectors

9: 40 am

On the sectoral front, Media is gaining 1.66 per cent followed by Metal, Realty and PSU Banks indices each gaining over 0.20 per cent. On the contrary, Energy is falling the most, at 2 per cent followed by Oil & Gas and Power indices each falling over 1 per cent and Healthcare and Utilities indices down by 0.95 per cent each.

Top Losers

9: 35 am

The top losers of the BSE Sensex pack were Reliance Industries, YES Bank, NTPC, IndusInd Bank, Tata Motors.

The top losers of the NSE Nifty pack were YES Bank,Reliance Industries,Bharat Petroleum Corporation, UPL, Cipla, among others.

Top Gainers

9: 30 am

The top gainers of the BSE Sensex pack were Hero MotoCorp,Infosys, Bajaj Auto, Bharti Airtel, Tata Steel.

The top gainers of the NSE Nifty pack were Zee Entertainment Enterprises, Titan Company, Hero MotoCorp, Tata Steel , Bajaj Auto, among others.

Opening Session

9: 20 am

Sensex opened 41 points down at 37,747 level, while the broader index Nifty50 started 37 points down at 11,322.40 level. Nifty Bank was trading down by 100 points or 0.35 per cent down at 28,894 and Nifty Midcap was 30 points down or 0.18 per cent at 16,934 in the opening session Thursday.

Indian Rupee

9: 15 am

Indian Rupee opens lower at 69.88 against the US dollar. It closed at 69.71 on Wednesday.

Pre-Opening Session

9: 10 am

Sensex pre opened 41 points down, at 37,747 level, while broader index Nifty 50 started 37 points down at 11,322 level in the pre-opening session.

Results Today

9: 00 am

HCL Technologies, Asian Paints, Apollo Tyres, Voltas, Mahanagar Gas, Shankara Building Products, South Indian Bank, Astra Microwave Products, Baba Arts, Cineline India, Centenial Surgical Suture, Cybertech Systems and Software, Dai-Ichi Karkaria, Dalmia Bharat, Datamatics Global Services, DE Nora India, Esab India, Fairchem Speciality, Gayatri Sugars, Gala Global Products, Gujarat Mineral Development Corporation, Granules India, Grovy India, Gujarat State Petronet, GTL Infrastructure, HCC, Hikal, Hinduja Ventures, Hindustan Media Ventures, ICRA, Inspirisys Solutions, Indian Overseas Bank, Kalpataru Power Transmission, Khaitan Chemicals, Mangalam Drugs, Manorama Industries, Matrimony.com, Mcdowell Holdings, MT Educare, NHC Foods, Nitta Gelatin India, Oracle Financial Services, Huhtamaki PPL, Plastiblends India, PNB Housing Finance, PTL Enterprises, Saint-Gobain Sekurit India, Satia Industries, Solar Industries, Stovec Industries, Sundram Fasteners, Superior Finlease, Sutlej Textiles & Industries, Timex Group India, Varun Beverages, Vardhman Textile

Market Closing on Wednesday

8: 55 am

The 30-share BSE Sensex plunged 487.50 points, or 1.27 per cent, to end at 37,789.13; while the broader NSE Nifty sank 138.45 points, or 1,20 per cent, to 11,359.45.

Sensex and Nifty have been falling this week on weak global markets rattled by imposition of additional tariffs on Chinese goods worth $200 bn by US President Donald Trump.

Read full report here: Sensex ends 487 points down at 37,789 as trade jitters take a toll

Global Market

8: 45 am

Indian Market is expected to open on a flat note after a fall of six trading sessions. U.S. Dow Jones ended flat as an escalation in trade tensions prompted investors to question whether China and America will make progress as talks resume this week. Beijing's top trade negotiator, Liu He, is traveling to the U.S. on Thursday and Friday for the high-stakes talks.

Yesterday, asian market like Nikkei, Hong Kong and China Index declined half to one percent. US Future declined 100 points or 0.3%. SGX Nifty declined 9 points. European market yesterday gained nearly half percent.

SGX Nifty declined 9 pts. European markets gained nearly half a percent, yesterday.

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