The Sensex and Nifty extended losses in the afternoon session as metal, consumer durables and healthcare stocks wilted under selling pressure. While the Sensex fell 181 points to 32,760 level, Nifty was down 68 points at 10,118 level. Sun Pharma was the top loser on the Sensex, falling over 4 percent after its Q2 earnings. Here are the key highlights, which are affecting the market today.
4:09 pm: On the BSE, top losers were largely ADAG group stocks led by Reliance Communications (12.12 percent), Reliance Capital (10.21 percent), Reliance Infrastructure (9.16 percent), and Reliance Power (8.55 percent). The Hindustan Copper stock (8.59 percent) was also among the top five losers on the BSE.
4:08 pm: 89 stocks on the BSE hit their 52-week or yearly low in today's trade.
4:04 pm: Market breadth was negative with 1,942 stocks closing lower against 767 rising on the BSE. 105 stocks remained unchanged.
3:36 pm: British telecom firm Vodafone is open to exploring opportunities for sale of stake in Indian mobile tower firm Indus Towers-its joint venture with Bharti Airtel and Idea Cellular. If the plan fructifies, it is expected to create more value for the group. "We will explore strategic options including the full or partial sales of our 42 per cent stake in Indus Towers, which could create further value for the group... we are also deleveraging our balancesheet by over USD 8 billion...," Vodafone Group Chief Executive Vittorio Colao said.
3:01 pm: Among the 13 sectoral indices, the consumer durables stocks index joined the metal shares in leading the losses. While, the metal index was down 464 points, the consumer durables index was down 347 points.
3:00 pm: Small cap stocks are leading the losses with the BSE small cap index down 1.62 percent or 284 points.
2:15 pm: Markets regulator Sebi has allowed multilateral and statutory organisations abroad to issue securities in the International Financial Services Centre (IFSC) in India. India's only IFSC has been set up in GIFT City, Gujarat, to enable Indian entities to compete on an equal footing with offshore financial centres.
1: 45 pm: ADC India Communications September-quarter profit Rs 5.5 million versus profit Rs 8.2 million year ago.
1:30 pm: Edelweiss Financial Services says company approved raising funds via QIP at floor price Rs 285.14 equity share.
1:15 pm: Shares of Sun Pharmaceutical Industries fell by over 3 per cent after the company reported a 59.19 per cent decline in consolidated net profit for the September quarter. The stock slipped 3.29 per cent to Rs 508.80 on the BSE.
1:00 pm: State-owned ONGC and Vedanta have emerged as the biggest bidders for oil and gas blocks, putting in 41 out of 56 bids received in India's maiden auction under open acreage licensing regime. Oil and Natural Gas Corp (ONGC) put in expression of interest for 41 areas while Vedanta's oil unit, Cairn India sought rights over 15 areas, sources privy to the development said.
12: 45 pm: Shares in Biocon are up more than 6.5 percent at Rs 391, taking their yearly gains to 23 percent.
12:30 pm: Universal Cables September-quarter profit Rs 7.83 crore versus Rs 11.42 crore an year ago.
12:15 pm: Metal stocks a drag on Sensex, Nifty. BSE metal index down 2.43 percent at 13,927 level; Hindalco, Coal India and Hindustan Zinc top losers.
12:00 pm: GAIL India stock trading 1.37 percent lower at 450.20 level after the firm reported a 41.6 per cent rise in its second quarter profit as earnings from gas transportation and marketing business soared.
11:45 am: Deutsche Bank raises Sun Pharmaceutical Industries target price to Rs 469 from Rs 440, assigns hold rating.
11:30 am: "Increasing oil prices and cut in the GST (a new nationwide sales tax) is raising doubts as to how it will impact the fiscal deficit of the country," said Vinod Nair, Head of Research at Geojit Financial Services.11:15 am: Deutsche Bank raises target price of GAIL (India) Ltd to Rs 370 from Rs 340; assigns sell rating.
11:00 am: OPEC raised its forecast on Monday for demand for its oil in 2018 and said its deal with other producers to cut output was reducing excess oil in storage, potentially pushing the global market into a larger deficit next year. The OPEC also cut its estimate of 2018 supply from non-OPEC producers and said oil use would grow faster than previously thought due to a stronger-than-expected world economy.
10:45 am: Equity mutual funds registered a staggering inflow of Rs 2.86 lakh crore in the past 11 months bolstered by the ban on high value currency notes, latest industry data showed. While overall assets under management (AUM) rose 32% since November 2016, the equity AUMs rose 46% after the note ban.
10: 28 am: Annual wholesale price inflation picked up in October to a six-month high, driven by faster rises in prices of food and fuel products. Annual wholesale price inflation last month increased to 3.59% y-o-y from a provisional 2.60% in September.
10:21 am: Bank of Baroda reported a 36 per cent plunge in net profit at Rs 355 crore in Q2, driven down by higher provisions for bad loans. Total provisions rose 25.68 per cent to Rs 2,687 crore in the quarter as against Rs 2,138 crore a year ago, while provisions for non-performing loans rose 13 per cent to Rs 1,847 crore from Rs 1,630 crore. However, its gross NPA ratio improved to 11.16 per cent from 11.35 per cent, and so was the net NPA ratio which improved was at 5.05 per cent as against 5.46 per cent. Stock trading 3.41 percent higher at 180 level on the BSE.
10:19 am : HDFC Bank will soon start offering digital savings bank accounts, credit cards and instant loans to users of its PayZapp app. The bank also plans to enroll additional merchants for acceptance of electronic payments to increase its present network of 1.2 million shops to 5 million in 18 months. PayZapp, which was launched two years ago, has more than 14 million users.
10:11 am: Rupee trading 0.14 percent lower at 65.3250. The Indian currency closed at 65.42 against the dollar on Tuesday.
9: 53 am: Market breadth was negative with 718 stocks rising against 1201 stocks falling on the BSE.
9:49 am: Sun Pharma (2.34 percent), Tata Steel (2.11 percent) and ONGC (1.62 percent) are the top losers on the Sensex.
9: 45 am: L&T (0.95 percent), HDFC (0.71 percent) and TCS (0.60 percent) top gainers on the Sensex.
9:39 am: 19 stocks on the Sensex trading in the red. Sun Pharma (2.35 percent) top loser post Q2 earnings.
9: 15 am: Crude oil prices hovering around 61 dollar per barrel
9:00 am: Wonderla, CARE, Automotive Axles to announce Q2 results today.
8: 55 am: In Asia, markets were trading in the red led by energy stocks as oil prices retreated. On the data front, Japan's GDP grew at 1.4% YoY in Q3, beating estimates. European markets closed lower led by sharp decline in commodity stocks which fell after disappointing data came out of China and metal prices declined. US markets closed lower on Tuesday on concerns of US tax reform and chance of global economic slowdown. All three major US stock indexes dipped on Tuesday as an extended drop in crude oil prices hit energy shares and as General Electric plunged for a second straight day.