Monday, September 7, 2015

Live: Sensex flat; NTPC jumps 3%, Amara Raja drops 5%

A file photo of the BSE building in Mumbai. Photo: Mint

11:10am: The S&P BSE Sensex is swinging between gains and losses in choppy trade, currently down 21.13 points, or 0.08%, to 24,872.68. The Nifty slips 5.55 points, or 0.07%, to 7,553.25.

11:00am: NTPC shares gain 3% after Citi upgrades the stock to “buy” from “neutral” on capacity additions, improving and assured return ratio and no regulatory uncertainty till FY19
10:54am: DB Realty Ltd rises 3% to Rs.54.50 after a news report said that Piramal Realty, an Ajay Piramal group company, is set to take over DB Realty’s Marine Drive project in Mumbai for close to Rs.1,000 crore.

10:45am: Indian Hume Pipe Co. Ltd rises 2% to Rs.339.80 after the company said in a notice to the BSE that it is in a pact with Dosti Realty Ltd for the development of 3.5 acre land parcel in Mumbai’s Wadala locality. The total land parcel includes 2.08 acre freehold land, while 1.39 acre is under a slum rehabilitation scheme.

10:36am: Amara Raja Batteries drops over 5% after Goldman Sachs downgrades the company to “neutral” from “buy” citing limited upside post recent outperformance. Goldman says the market has largely priced in the strong growth outlook over FY15-18

10:24am: Traders see strong support at 7,500 points for Nifty, on the back of high open positions for put options at strike price of 7,500. Also, the Sensex is close to erasing gains since Modi came to power last year.

10:15am: The S&P BSE Sensex is trading flat at 24,901.15, up 7.34 points, or 0.03%.

10:08am: JSW Energy Ltd rises 7.7% to Rs.73 after Mintreported that the company is in advanced talks with Jaypee Group company Jaiprakash Power Ventures Ltd to acquire the latter’s 500 megawatt (MW) Bina thermal power project in Madhya Pradesh, as it seeks to double power capacity.

10:00am: Amtek Group companies are trading lower. JMT Auto Ltd has been downgraded by rating agency Crisil on concerns of deteriorating financials and limited ability of the parent firm to support the company. Amtek Auto Ltd is down as much as 6% to Rs.27.30, JMT Auto Ltd falls 5% toRs.57.40 and Castex Technologies Ltd is down 5% to Rs.44.65.

9:52am: Info Edge India Ltd rises 1.4% to Rs.741. Zomato has raised $60 million in funding led by Singapore-based Temasek with participation from existing investor Vy Capital. Zomato has in total raised close to $225 million from Info Edge, Sequoia India, Vy Capital and Temasek.

9:46am: Pharma companies are trading lower for the third consecutive session. Dishman Pharma Ltd falls 4.1%, Unichem Lab Ltd is down 4%, Natco Pharma Ltd 3.6%, Elder Pharmaceuticals Ltd 3.5%, Wockhardt Ltd 3.2%, Sun Pharmaceuticals Industries Ltd 2.9% and Strides Arcolabs Ltd 2.6%.

9:40am: Sectoral indices—the BSE Bankex is the top gainer, up 1.2%, followed by BSE Realty which is up 0.9%. The BSE Healthcare index is the top loser, down 0.9%, followed by BSE FMCG, which is down 0.6%.

9:33am: Indian stocks open higher on value-buying after the benchmark indices fell to their lowest levels in 13 months on Monday.

The S&P BSE Sensex rises 35.80 points, or 0.14%, to 24,929.61, while the Nifty is trading up 7.95 points, or 0.11%, to 7,566.75.

Top gainers: GVK Power and Infrastructure Ltd jumps 6.3%, JSW Energy is up 4.2%, Corporation Bank rises 3.2%.

Top losers: Jubilant Life Sciences is down 5.8%, Amtek Auto falls 5.7% and PMC Fincorp drops 4.7%.

9:25am: The Indian rupee strengthens to 66.75 per US dollar compared with its previous close of 66.83 after international crude oil prices fell over 4%.

9:20am: The yield on India’s 10-year benchmark bond is trading at 7.791% compared with its Monday close of 7.803%.

9:15am: The euro rises to $1.1192 from $1.1168 in the previous global trading session. The dollar falls to 118.93 yen from 119.39 yen.

9:10am: Benchmark US crude is down $1.43 to $44.62 a barrel in electronic trading on the New York Mercantile Exchange. It falls 70 cents on Monday. Brent crude gains 40 cents to $48.03 in London.

9:05am: Japan’s Nikkei 225 stock index falls 0.9% to 17,699.52 and the Shanghai Composite Index drops 0.5% to 3,066.65. South Korea’s Kospi loses 0.3% to 1,877.33. Hong Kong’s Hang Seng rises 0.4% to 20,662.52 and Australia’s S&P/ASX 200 gains 1% to 5,081.50. Share markets in Southeast Asia fall.

9:00am: Asian stock markets are lackluster today after weak Chinese trade and Japanese growth figures showed headwinds for the global economy.

China’s foreign trade in August dropped 9.7% year-on-year, with exports falling 6.1% and imports slumping 14.3%, official data showed. Japan’s economy contracted 1.2% in April-June, according to revised data showing that consumer spending was slightly better than estimated.

8:55am: The Wall Street was closed Monday for the Labor Day holiday.
Source - Livemint

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