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Markets open lower

Indian markets opened lower Wednesday, following a fall in Asian stocks. Metals were the worst hit, followed by weakness in realty, consumer durables, FMCG, banking, capital goods, oil & gas, power, and auto.

ITGD Bureau   Mumbai     Last Updated: October 20, 2010  | 16:02 IST

Wednesday, October 20, 2010

3.30 pm: 
Another choppy session saw the Sensex close in the negative at provisional 19,867.93, losing 115.20 points or 0.58 per cent. The BSE 30-share index saw a high of 20,043.82 versus a low of 19,822.66. Index losers included Sterlite (3.57 per cent), Tata Steel (2.75 per cent), HDFC (2.60 per cent), Hindalco (1.57 per cent), Bharti Airtel (1.56 per cent), DLF (1.52 per cent), ACC (1.25 per cent), HDFC Bank (1.25 per cent), ITC (1.20 per cent), Tata Motors (1.14 per cent) and SBI (1.13 per cent).
Gainers comprised Tata Power (1.28 per cent), L&T (0.67 per cent), Cipla (0.54 per cent), NTPC (0.42 per cent), Infosys (0.36 per cent), RIL (0.32 per cent), ONGC (0.24 per cent), BHEL (0.12 per cent), JP Associates (0.12 per cent) and TCS (0.03 per cent).

3.05 pm:
Canara Bank has reported standalone net profit of Rs 1,007.88 crore for the quarter ended September 30 against Rs 1,013.37 crore for the quarter ended June 30. Interest earned for the September quarter was Rs 5,577.44 crore, against Rs 5160.88 crore for the quarter to June. Interest expended was Rs 3,574.14 crore, against Rs 3,433.05 crore for the respective quarters. On NSE, the bank's shares were higher by 3.45 per cent at Rs 656.15.

2.36 pm: 
Shopper's Stop and Crossword Bookstores, its wholly-owned subsidiary, have mutually agreed to terminate the franchise agreement with effect from September 30. On NSE, Shopper's Stop shares were flat at Rs 675.95.

2.10 pm:
Tata Communications has been selected by PSA Peugeot Citroen to provide Global Managed Telepresence, along with asking Four Starwood Hotels (Europe) to debut Telepresence 'Virtual Meeting' Suites, enabling collaboration across continents. On NSE, the company's shares were down 1.2 per cent at Rs 314.85.

1.36 pm:
Kotak Mahindra Bank has reported consolidated net profit of Rs 364.10 crore for the quarter ended September 30, against Rs 299.76 crore for the same period last year. Interest earned was Rs 1,449.26 crore, compared to Rs 1,105.97 crore for the September quarter. Interest expended was Rs 606.03 crore, against Rs 426.42 crore for the previous year. On NSE, the bank's shares were trading flat at Rs 505.05.

1.15 pm:
Yes Bank has reported a standalone net profit of Rs 176.26 crore for the quarter ended September 30, against Rs 111.71 crore for the September quarter of 2009. Interest earned was Rs 953.79 crore, against Rs 526.91 crore for the corresponding quarter of 2009. Interest expended stood at Rs 640.63 crore, compared with Rs 366.96 crore for the same quarter last year. On NSE, the bank's shares were up 0.89 per cent at Rs 350.

12.46 pm:
Mahindra Lifespace Developers has posted standalone net profit of Rs 24.66 crore for the quarter ended September 30, higher from Rs 17.34 crore for the corresponding quarter of 2009. Net sales were at Rs 88.98 crore, against Rs 63.52 crore for the same quarter last year.

12.02 pm: 
Ashco Niulab Industries has expanded its capacity by more than 250 per cent by adding five new LC-MS/MS Systems imported from Agilent Technologies of the US. On NSE, the company's shares were down 2.65 per cent at Rs 9.20.

11.47 am: 
Bedmutha Industries has been awarded mega project status by the government of Maharashtra for the proposed expansion of the company. The total project cost is valued at Rs 307.42 crore. On NSE, the company's shares shot up 8.55 per cent to Rs 277.40.

11.35 am:
Micro Technologies (India) and H.A.SH Security Services of Israel have announced the launch of India's unique "International Command & Control Centre". On NSE, Micro Tech shares were down half a per cent at Rs 211.10.

10.57 am: 
IndusInd Bank has entered into an arrangement with Moscow-based commercial bank JCB Unistream for India-bound remittances. This tie-up will give remitters an option to send money from any branch of Unistream, towards direct credit into over 60,000 IndusInd branches in India. On NSE, IndusInd Bank shares were lower by 0.34 per cent  at Rs 264.20.

10.32 am:
Himachal Futuristic Communications has signed a joint venture agreement with Dragonwave Inc, Canada - a global supplier of high capacity 'Packet Microwave Radio Systems' which are used for backhaul of traffic in 3G/4G and Broadband Wireless Networks. A joint venture company will be formed in India - Dragonwave will own 50.1 per cent equity shares and the rest 49.9 per cent will be owned by HFCL. The products will be manufactured by HFCL at its Solan (Himachal Pradesh) plant. On NSE, HFCL shares were up 1.38 per cent at Rs 11.

10.05 am:
HCL Technologies has reported standalone net profit of Rs 194.88 crore for the quarter ended September 30 against Rs 237.82 crore for the quarter ended June 30. Net sales for the quarter ended September was Rs 1,498.32 crore against Rs 1,330.61 crore for the quarter to June. On NSE, the company's shares were lower by 1 per cent at Rs 435.

9.38 am: 
Oberoi Realty shares listed at Rs 271.10 on the NSE, a marginal premium of Rs 11.1, or 4.26 per cent, to the issue price of Rs 260 per share. The stock traded at Rs 295 after touching a high of Rs 295.70. Total traded quantity was 1.45 crore shares and turnover Rs 414.95 crore. Oberoi Realty's initial public offer of 3.24 crore shares, at Rs 253-260 per share, raised Rs 1,028.61 crore. The issue was subscribed 12.13 times with bids for 39.35 crore shares. The IPO was open from October 6 to 8.

9.35 am:
Sensex losers comprise Sterlite Industries (2.01 per cent), Tata Steel (1.33 per cent), Hindalco (1.16 per cent), Tata Motors (0.81 per cent), HDFC (0.79 per cent), HDFC Bank (0.42 per cent), ITC (0.38 per cent), State Bank of India (0.32 per cent), Jaiprakash Associates (0.20 per cent), ACC (0.14 per cent), Jindal Steel (0.11 per cent), Bharti Airtel (0.09 per cent) and ICICI Bank (0.02 per cent).

9.33 am: Gainers on the Sensex were Tata Power (1.46 per cent), ONGC (0.99 per cent), Wipro (0.94 per cent), Cipla (0.86 per cent), Hindustan Unilever (0.84 per cent), Infosys Technologies (0.79 per cent), Tata Consultancy Services (0.74 per cent), Maruti Suzuki (0.72 per cent), Hero Honda (0.58 per cent), NTPC (0.56 per cent) and Mahindra & Mahindra (0.49 per cent), among others.

9.17 am: Sensex gave up another 39.46 points, or 0.20 per cent, to trade at 19,943.67. The BSE sensitive index opened at 19,924.02 versus the previous close of 19,983.13. The 30-share index moved between 19,943.67 and 19,885.61.

9.16 am: Nifty at 6,001.25, down 26.05 points or 0.43 per cent. The NSE benchmark opened at 6,002.95 against Tuesday's close of 6,027.30. The 50-share index saw a high of 6,004.20 versus a low of 5,991.55.

9.15 am: Indian markets opened lower Wednesday, following a fall in Asian stocks. Metals were the worst hit, followed by weakness in realty, consumer durables, FMCG, banking, capital goods, oil & gas, power, and auto. The only gainers were IT and healthcare.

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