Sensex falls 59 points to 33,777, Nifty at 10,444 on profit booking; Dr Reddy's, Airtel, Tata Steel top losers

Sensex falls 59 points to 33,777, Nifty at 10,444 on profit booking; Dr Reddy's, Airtel, Tata Steel top losers

Dr Reddy's (1.80%), Bharti Airtel (1.45%), Tata Steel (1.09%) top Sensex losers. Market breadth was positive with 1,587 stocks closing higher against 1,120 ending lower on BSE.

The Sensex and Nifty closed lower falling off their record highs as investors and traders booked profit cashing in on the market rally. The Sensex hit a fresh all-time high of 33,956 intra day in early trade breaching the earlier record level of 33,465. While Sensex fell 59 points to 33,777, Nifty was down 19 points to 10,444.  Here are the key highlights, which affected the market today.

3:45 pm: Dr Reddy's (1.80%), Bharti Airtel (1.45%), Tata Steel (1.09%) top Sensex losers.

3: 30 pm: Market breadth is positive with 1,587 stocks closing higher against 1,120 ending lower on BSE.

3:24 pm: Reliance Communications jumps 37 percent in afternoon trade

2:30 pm: Bank of India says RBI has placed the bank under Prompt Corrective Action (PCA) framework due to higher net non-performing assets (NPA), negative Return on Assets (ROA) for two consecutive years. Shares fall over 3 percent.

2:07 pm: Nifty realty index jumps over 3 percent.

2: 00 pm: HDFC Bank plans to raise up to $3.75 bn from share sales. Plans to raise up to Rs 240 billion ($3.75 billion) to fund its growth by selling shares to domestic and international investors.

1:45 pm: The revenue department recovered only around 9% of service tax arrears in 2016-2017 even as the number of cases detected increased from the previous fiscal, the Comptroller and Auditor General (CAG) of India said.

1:15 pm: The farm debt waivers announced by the five large states together will widen the combined fiscal deficit of the states by Rs 1.07 lakh crore or 0.65% of GDP this financial year, warns India Ratings in a report.

12:50 pm: The advance tax paid by top 100 Mumbai-based companies increased by just 4% in the December quarter to Rs 34,600 crore against Rs 33,400 crore logged in the same period last year, largely due to lower contribution by the pharma, banking and petroleum sectors. 

12:26 pm: Maruti Suzuki (Rs 50.19 cr), TCS (Rs 37.14 crore), Hero MotoCorp (Rs 34.92 crore) are top contributors in terms of volume.

12:17 PM: Sensex rises 38 points to 33,875, Nifty up 12 points to 10,475 level.

12: 15 pm: Capital goods sector index too rises 160 points. 

12:14 pm: BSE Auto index rises 173 points, leads gains on  Sensex.

10:53 am: Strides Shasun buys controlling stake in Trinity Pharma. Shares of Strides Shasun soar over 3 percent. Acquires controlling stake in Trinity Pharma, South Africa.

10:00 am: Astron Paper and Board Mills' initial public offer (IPO) was subscribed 12.39 times on the third day of issue yesterday. The IPO to raise Rs 70 crore received bids for 17,34,31,720 shares against the total issue size of 1,40,00,000 shares, data available with the NSE showed.

9:53 am: The Maruti Suzuki stock hits five-figure mark of 10,000 for the first time ever.

9: 40 am: Rupee trades flat in early trade at 64.04 per dollar. The rupee on Tuesday closed at fresh three-month high against the US dollar at 64.03 a dollar-a level last seen on 13 September, up 0.31% from its Monday's close of 64.24. So far this year, the rupee has gained 6%.

9: 39 am: The World Bank has raised its forecast for China's economic growth in 2017 to 6.8% from 6.7% it projected in October, as personal consumption and foreign trade supported growth. But kept its forecast for China's 2018 and 2019 GDP growth unchanged at 6.4% and 6.3%, respectively, due to less accommodative monetary policy and the government's effort to rein in credit and control leverage.

9: 35 am: ONGC (1.43%), Coal India (1.16%), Hero MotoCorp (1.11%) are top gainers on Sensex.

9:32 am: India's trade deficit with China fell by 28% to $36.73 billion during the first seven months of the current fiscal (April-October) compared to $51.11 billion in the financial year FY2017. The bilateral trade between India and China stood at $50.19 billion during the April-October period, as against $71.45 billion in the entire FY2017, according to the provisional data for April-October.

9: 30 am: Asian shares fell on Wednesday, taking their cues from Wall Street with investor enthusiasm toward US tax changes ebbing as the long-awaited reform bill wound its way through Congress, while higher US Treasury yields underpinned the dollar. Japan's Nikkei stock index also edged down 0.2 percent. The Dow Jones Industrial Average shed 0.15 percent, the S&P 500 lost 0.32 percent, and the Nasdaq Composite  dropped 0.44 percent on Tuesday.

The dollar edged up 112.99 yen, while the euro got a lift from higher eurozone rates, gaining 0.5 percent on Tuesday. The European currency was steady at $1.1839.