Benchmark indices Sensex and Nifty closed in the negative Wednesday amid weak Asian markets tracking ripple effects of President Donald Trump's trade tariff hike tweet on US markets. Sensex closed down by 487 points at 37,789 and Nifty closed 138 down at 11,359 level.
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. Slowdown blues in the Indian economy have also contributed to a fall in Sensex and Nifty in the past few trading sessions.
Here's a look at live updates for the Indian share market today.
3: 20 pm: Only 2 out of 30 stocks on Sensex are gaining and 6 out of Nifty50 are trading on the green. Top falling indices of the closing session are Media, Realty, Energy and Pharma. Nifty has been losing for the last 6 days and has fallen 3.22% in the period.
3: 15 pm: Dhanlaxmi Bank Q4 results are out today. 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.
The stock is currently trading at Rs 19, up 0.25 per cent on BSE.
3: 00 pm: P&G Hygiene released its March quarter figures today. The Q3 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.
P&G Hygiene Q4 net profit Rs901.1mn (up 8.3% YoY) - expectation 928mn and income Rs6.99bn (up 18.5% YoY) - expectation Rs6.51bn. #MOMarketUpdates- Motilal Oswal Group (@MotilalOswalLtd) May 8, 2019
2: 45 pm: BSE plans to buyback its fully paid up equity shares of Rs 2 each at Rs 680 per equity share through tender offer route, the company said in a press note after markets hours to the exchanges on Tuesday.
BSE has also approved a dividend of Rs30 per equity share of Rs 2 each including the interim dividend of Rs 5 per equity share paid in the month of November 2018 for the year ended March 31, 2019, subject to the approval of the Members at the ensuing Annual General Meeting. The dividend payout ratio is 97%.
The company registered a fall of 16.46% yoy for Q4 FY19 at Rs 51.86 cr. The total income for the quarter under review also fell to Rs 182.08 cr from Rs 195.34 cr in March, 2018.
2: 15 pm: Rain Industries has declared theiir Q4 figures today. 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.
1: 55 pm: UPL board to consider bonus share issue
The company has intimated the exchanges about the board meet on May, 17 to consider and take on record the audited standalone and consolidated financial results for the year ended 31St March, 2019, and also to consider and recommend dividend on equity shares as well as issue of bonus shares.
The stock is currently trading at Rs 965, up 14 points and is mere 1.01% away from 52 week high of Rs 974.75. the stock has also touched an intraday low of Rs 922.70, down by 3.01%.
Neogen Chemical will be listed today. It has been subscribed 40 times and price band Rs215 a share. #MOMarketUpdates- Motilal Oswal Group (@MotilalOswalLtd) May 8, 2019
1: 40 pm: Equity shares of Neogen Chemicals, a leading manufacturer of bromine and lithium-based specialty chemicals, listed on BSE and NSE on Wednesday at a premium of Rs 251 apiece, up 16.74 per cent against the issue price of Rs 215.
The stock is trading at Rs 263. 55, up 12.55 points or 5 % up on BSE.
Read full report here: Neogen Chemicals makes strong debut, lists at 17% premium
1: 30 pm: Srikalahasthi Pipes has released their Q4 numbers. While the profit in the fourth quarter has increased to Ra 35.8 cr , up 4.4% from the corresponding quarter a year ago, the EBITDA is down 6% to Rs 50.7 cr from Rs 54 Y-o-Y.
The revenue has increased 12 % from Rs 362.5 a year ago to Rs 408.7 in the March quarter.
The stock is trading at Rs 199.30 at 1:25 pm, down 5.50 points or 2.69% on BSE.
1: 15 pm: Shares of CG Power jumped more than 13 per cent intraday to Rs 41.55, after YES Bank said it had acquired 8 crore shares in electric equipment maker, which had been pledged with it by a borrower. The shares represent 12.79 per cent ownership in the company.
12: 45 pm: Ceat Stock trades 2.8 per cent up intraday after the company reported positive figured for the Q4 of the year 2018-19. The stock had trend reversal today, after 8 days of consecutive fall.
"The total consolidated revenue of the company stood at Rs 6,984.51 crore in FY19 as compared to Rs 6,283.42 crore in FY18, registering a growth of 11.2 per cent," CEAT said in a filing to the Bombay Stock Exchange on Tuesday.
Read full report here: CEAT's profit up 6% at Rs 252.22 crore in FY19, revenue stands at Rs 6,984.51 crore
12: 30 pm: Overall 1244 stocks are falling against 345 advancing stocks while 83 stcoks remain unchanged on NSE, at an Advance Decline ratio of 0.28 per cent.
On BSE 1557 stocks fall against 577 advancing ones, while 104 stay unchanged, at an AD ratio of 0.37.
12: 10 pm: There are no advancing sector in today's trade session. Where Media and Realty indices are down more than 2 per cent, Energy and Pharma sectors are falling over 1 per cent each.
11: 55 am: Only 4 out of 30 stocks on Sensex are trading in the green and 12 out of Nifty 50 are advancing.
11: 40 am: CG Power, Reliance Communications, Rashtriya Chemicals and Fertilizers, INOX Leisure and Jet Airways were the top Sensex gainers. Top Sensex losers were Cox & Kings, Vodafone Idea, Indiabulls Real Estate, Westlife and Zee Ent.
11: 30 am: The equity shares of Neogen Chemicals Ltd, a leading manufacturer of bromine and lithium-based specialty chemicals, listed on the stock exchanges, BSE and NSE on Wednesday at a premium of Rs 251 apiece, up 16.74 per cent against the decided issue price of Rs 215.
11:10 am: Brent crude oil prices trading at their five-week low of $70.27 per barrel.
11: 00 am: Market breadth was negative with 573 rising on BSE compared to 1331 falling on BSE.
10: 55 am: Of 30 Sensex stocks, 27 were trading in the red.
10: 50 am: Top Sensex losers were Vedanta (1.99%), Reliance Industries(1.83%), and YES Bank (1.31%).
10: 45 am: PowerGrid (0.84%), Coal India (0.32%) and Bharti Airtel (0.06%) were the top Sensex gainers.10: 30 am: Zee Entertainment (7.50%), Dish TV (5.35%), and Cox & Kings (4.73%) were top losers on BSE.
10: 15 am: Top stocks by turnover on BSE were Reliance Industries (Rs 20.85 crore), YES Bank (Rs 17.5 crore), and Dewan Housing (16.87%).
9: 55 am: Reliance Industries (1.46%), Bajaj Auto (1.27%) and ONGC (1.28%) are top Sensex losers.
9: 50 am: Oil prices have tumbled, slipping below $70 a barrel for the first time in over a month.
9: 40 am: Ripple effect of US market
Indian markets felt pressure from their US peers after US President Donald Trump imposed more tariffs on China, spooking investors who had been expecting good news on trade. Trump in a tweet said he would raise import taxes on $200 billion in Chinese products to 25% from 10% from Friday.
The Dow Jones Industrial Average tumbled more than 470 points on Tuesday amid a broad sell-off on Wall Street as the US and China moved closer to an escalation of their already costly trade war.
The S&P 500 index slumped 48.42 points, or 1.7%, to 2,884.05. The Dow lost 473.39 points, or 1.8%, to 25,965.09. The index had been down 648. The Nasdaq composite, which is heavily weighted with technology stocks, fell 159.53 points, or 2%, to 7,963.76.
9: 35 am: HCL Tech (0.70%), PowerGrid (0.68%) and ICICI Bank (0.34%) were the top Sensex gainers.
9: 33 am : Top Sensex losers were Vedanta (2.69%), ONGC (1.14%) and Reliance (1.03%).
9: 32 am: On Tuesday, BSE Sensex closed at 38,276.63, down 323.71 points and Nifty fell 100.35 points to 11,497.90. Meanwhile, mid cap and small cap indices were trading 36 points and 33 points lower in early trade.
9: 30 am: Market breadth was negative with 494 stocks trading higher compared to 1137 falling on BSE.
9: 25 am: BSE consumer durables and banking stocks led the losses with their BSE indices falling 200 points and 122 points, respectively.
9: 20 am : On a net basis, foreign portfolio investors (FPIs) sold shares worth a net of Rs 645 crore on Tuesday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 818 crore, provisional data available with BSE showed.
9: 15 am: Sensex falls 172 points to 38,104 with 22 components in the red, Nifty loses 50 points to 11,447.
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