The Sensex ended 159 points lower at 25,679 and Nifty fell 44 points to close at 7,855 on the back of selling pressure in index heavyweight Reliance Industries, HDFC, ITC and Sun Pharma.
For the most part of the day, the Sensex and Nifty reeled under the selling pressure and Sensex fell as much as 252 points while the Nifty touched low of 7,827. However, late buying emerged in IT heavyweights Infosys and TCS which helped the benchmark indices recoup some losses.
Sentiment was also hit as Asian shares skidded ahead of central bank meetings in the United States and Japan this week.
Caution also prevailed as monthly derivatives contracts are due to expire on Thursday, traditionally marking a volatile period in markets.
From the Nifty-50 basket of stocks, 30 stocks declined while 20 stocks ended higher.
Aurobindo Pharma was the top Nifty loser; the stock closed 1.95 per cent to close at Rs 764. GAIL India, HDFC, Tata Steel, Reliance Industries, ITC, Power Grid and State Bank of India were also among the decliners.
3:29 p.m.: Buying in heavyweights like Infosys, TCS and Bharti Airtel helped Sensex stage a partial recovery.
3:06 p.m.: Stock markets off day’s low, Sensex down 166 points at 25,672 and Nifty slips 48 points to 7,851.
2:36 p.m.: UltraTech Cement reports Q4 net profit of Rs 681.41 crore compared to Rs 614.74 crore during the same period previous year, stock 0.62 per cent to Rs 3,291.
2:29 p.m.: BSE power index is the top sectoral loser, down 1.72 per cent; NTPC, Adani Power, Alstom T&D, JSW Energy, BHEL, Power Grid, Reliance Power, Torrent Power and Tata Power among losers, down 1.22-3.32 per cent each.
2:21 p.m.: Nifty 7,900 strike price call option is the most active options contract on the National Stock Exchange. The premium on the contract fell 52 per cent to Rs 28.15 and as many as 2.01 million shares were added to the open interest of 6.57 million shares.
2:03 p.m.: TIL Ltd was the top loser from the small-cap space, down 7.7 per cent to Rs 334. DIC India, International Paper APPM, Uttam Galva Steels, Syncom Formulations, BS Ltd and Visagar Polytex were also down 5.7.4 per cent each.
1:51 p.m.: Reliance Industries, HDFC, ITC, Infosys, Sun Pharma, Axis Bank, Maruti Suzuki and NTPC collectively contribute nearly 150 points towards decline in the Sensex.
1:44 p.m.: Selling pressure visible across the sectors. Metal, oil & gas, power, auto and FMCG indices fall nearly 1-1.76 per cent each.
1:33 p.m.: Markets at day’s low. Sensex down over 200 points while Nifty hits 7,829 at day’s low.
1:05 p.m.: Bharti Airtel, Bajaj Auto, TCS, BPCL, Adani Ports, Grasim Industries and Ambuja Cements were among the notable gainers in the Nifty.
12:55 p.m.: Stock markets continue to reel under selling pressure. The BSE Sensex falls 176 points to 25,662 and Nifty falls 53 points to 7,846.
12:51 p.m.: European markets open lower. Germany’s DAX slipped 0.3 per cent, Britain’s FTSE100 was down 0.28 per cent and French CAC 40 index fell 0.40 per cent.
12:40 p.m.: Shares of Mahindra & Mahindra Financial Services rose by 7 per cent on Monday after the company reported a 12 per cent rise in consolidated net profit for quarter ended March 31.
The stock climbed 6.56 per cent to Rs 293.65 on BSE. At NSE, it went up by 6.98 per cent to Rs 294.95 – its 52-week high. Mahindra & Mahindra Financial Services on Saturday reported a 12 per cent rise in consolidated net profit at Rs 411.33 crore in the March quarter.
12:32 p.m.: Adani Power was the top loser from the mid-cap space, down 2.8 per cent to Rs 33.10. JSW Energy, J P Associates, Apollo Hospitals, Allahabad Bank, Kansai Nerolac, Torrent Power and Oriental Bank of Commerce were also among the losers, down 1.7-2.6 per cent each.
12:23 p.m.: Shares of software services firm Zensar Technologies today plunged nearly 8 per cent after the company reported decline in consolidated net profit for the March quarter.
The scrip of the mid-sized IT firm dipped by 7.77 per cent to Rs 919 at BSE.
On NSE, it tumbled 7.84 per cent to Rs 920.(Read)
12:18 p.m.: The market breadth continues to remain negative as 1,374 stocks decline while 915 advance.
12:09 p.m.: Hindalco was the top Nifty loser, the stock fell 3.6 per cent to Rs 97.45. BTPC, Axis Bank, Reliance Industries, Bank of Baroda, Bharti Infratel, Tata Steel and Tata Motors also fell nearly 2-3.3 per cent each.
11:59 a.m.: Shares of pharma companies were also facing the heat of selling pressure. The BSE Healthcare index was down 0.83 per cent; Orchid Pharma, Sun Pharma, Lupin, Cipla, Aurobindo Pharma, Dr Reddy’s Labs and Apollo Hospitals were among the losers.
11:49 a.m.: Kalpatru Power Transmission shares jumped as much as 6.15 per cent to hit intraday high of Rs 226 after the company informed the Bombay Stock Exchange that it received two separate orders in excess of Rs 1,150 crore for construction and supply of transmission lines.
11:39 a.m.: Selling pressure visible across the sectors with metal and oil & gas stocks leading the fall.
11:35 a.m.: Bharti Airtel shares gained as much as 3 per cent on Monday at day’s high of Rs 364 after the telecom operator announced that it will decide on final dividend for FY16 or buyback of equity shares at its board meeting on April 27.
In FY2015, India’s biggest telecom operator paid a dividend of Rs 2.2 per share. The Street expects a dividend of Rs 2.2 per share for FY16 as well.
11:31 a.m.: Shares of Cairn India fell by over 5 per cent on Monday after the company reported its biggest quarterly loss of Rs 10,948 crore in the quarter ended March 31.
The stock after a weak opening further lost 5.11 per cent to Rs 143.65 on BSE. At NSE, it went down by 5.11 per cent to Rs 143.90. On Friday, Cairn India had reported its biggest quarterly loss of Rs 10,948 crore in the quarter ended March 31, mainly because of impairment loss on goodwill and non-producing oil and gas assets due to drop in oil prices.
11:26 a.m.: Bank Nifty edges lower, slips 0.11 per cent on weakness in Bank of Baroda, Axis Bank, Canara Bank, Bank of India, HDFC Bank, Bank of India and HDFC Bank.
11:01 a.m.: Nifty 8,000 strike price call option is the most active options contract on the National Stock Exchange. The premium on the contract fell 52.5 per cent to Rs 9.55.
10:49 a.m.: Shares of textile manufacturer- Filatex India were locked in upper circuit of 20 per cent at Rs 51.80 after company post the market hours on Friday reported that its net profit soared to Rs 13.55 crore from Rs 2.92 crore during the same period last year.
10:40 a.m.: Market breadth turns marginally negative as 1,099 stocks fall while 904 gain.
10:25 a.m.: The stock markets extended losses. The Sensex fell 135 points to 25,703 and Nifty was down 38 points at 7,861.
10:10 a.m.: Reliance Industries shares fell as much as 2.2 per cent to its intraday low of Rs 1,016. Market expert Hemindra Hazari says weakness in Reliance Industries shares is due to delay in commercial launch of Reliance Jio. Significant amount of capex has been done and analysts are eager to see when the cash generation starts, he adds.
9:56 a.m.: Bank Nifty trades on a flat note, up 0.02 per cent; Axis Bank was the top loser, down 0.75 per cent to Rs 472. Canara Bank, HDFC Bank, Bank of Baroda, Federal Bank, IndusInd Bank and Punjab National Bank were among losers, down 0.06-0.5 per cent each.
9:43 a.m.: Selling pressure visible in metal, oil & gas, power, healthcare and FMCG shares.
9:35 a.m.: The Sensex and Nifty edged lower in the morning trades on the back of selling pressure in Reliance Industries, HDFC, Sun Pharma, ITC, HDFC Bank, Tata Motors and NTPC. The Sensex was down 62 points at 25,776 and Nifty fell 17 points to 7,881.
9:18 a.m.: The Sensex and Nifty opened on a flat note in trades today tracking weakness in other Asian markets.
At 9:19 a.m., the Sensex traded 9 points lower at 25,829 and Nifty slipped 3 points to 7,896.
From the Nifty-50 basket of stocks, 27 stocks were advancing while 23 were declining.
NTPC was the top Nifty loser, down 1.4 per cent to Rs 142. Reliance Industries which reported earnings post the market hours on Friday also fell 1 per cent to Rs 1,029. Tata Steel, ONGC, Asian Paints, HDFC, ITC, Lupin, HDFC Bank, Sun Pharma, Eicher Motors and Tata Motors were also among the losers, down 0.4-1 per cent each.
On the other hand, Bharti Airtel was the top Nifty gainer, up 1.7 per cent to Rs 359 after the company said it is likely to consider a buyback of equity shares in its board meeting on April 27.
Adani Ports, Bajaj Auto, Larsen & Toubro, Coal India, TCS and Ambuja Cements also jumped 0.7-1.3 per cent each.
The broader markets were also trading flat with BSE mid-cap index advancing 0.3 per cent and small-cap index jumping 0.19 per cent.
7:45 a.m.: The Sensex and Nifty are set to open lower tracking subdued trading of Nifty futures on the Singapore Stock Exchange amid negative global cues.
The Nifty futures on the Singapore Exchange also known as the SGX Nifty traded 0.2 per cent or 17 points lower at 7,898.
Meanwhile, other Asian markets were also trading on a subdued note. China’s Shanghai Composite was down 0.7 per cent, Japan’s Nikkei fell 0.64 per cent and Hang Seng slipped 0.35 per cent.
Wall Street finished flat on Friday after disappointing quarterly reports from Microsoft and Alphabet slammed tech stocks, while a surge in oil prices lifted energy shares.
The S&P technology sector dropped 1.9 per cent, its worst decline since early February, with Facebook down 2.5 per cent and Intel falling 1.03 per cent.
Back home, Reliance Industries will be on investors’ radar after the company post the market hours on Friday reported a consolidated net profit of Rs 7,398 crore in the fourth quarter, beating estimates. This was the third straight quarter of record profit for billionaire Mukesh Ambani-controlled Reliance Industries.
Analysts attributed the earnings beat to RIL’s stronger margins in its core oil refining business, which contributes nearly three fourth to the energy major’s overall revenue.
Cairn India will also be closely watched after the company reported its biggest quarterly loss of Rs 10,948 crore for the fourth quarter ending March 31, 2016 as it took an impairment charge of Rs 11,674 crore.
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