Sensex Falls On Profit-Booking, Tata Motors Among Top Losers 0
1:38 p.m.: European markets trade on weak note. Germany's DAX falls 1.24 per cent, France's CAC40 slumps 1 per cent and Britain's FTSE100 slips 0.5 per cent. 1:23 p.m.: Larsen & Toubro (L&T) on Tuesday said it has bagged export orders worth $71.3 million (nearly Rs 480 crore) from Mitsubishi Hitachi Power Systems Ltd through its two joint venture (JV) firms. "Larsen & Toubro (L&T) through its joint venture companies L&T-MHPS Boilers Private Ltd (LMB) and L&T-MHPS Turbine Generators Private Ltd (LMTG) has secured export orders worth $71.3 million from Mitsubishi Hitachi Power Systems Limited (MHPS)," the company said in a BSE filing. 1:10 p.m.: Iron ore exporters State Trading Corporation of India (STC) and NMDC were spotlight today after the commodity staged a sharp rally. Shares of State Trading Corporation of India surged as much as 15 per cent to Rs 119.4 while NMDC rallied 3.5 per cent to Rs 97.8 12:50 p.m.: Tata Motors was the top Nifty loser, down 1.85 per cent to Rs 460.80. NTPC, GAIL India, Bharti Airtel, Bajaj Auto, HCL Technologies, Hero MotoCorp, Cipla, Tech Mahindra and ITC were also among the losers, down 1-1.8 per cent each. 12:39 p.m.: PSU banking shares were witnessing buying interest. The PSU Bank Nifty was up 0.87 per cent; Syndicate Bank, Punjab National Bank, IDBI Bank, Oriental Bank of Commerce, Bank of India, Allahabad Bank and Andhra Bank were among gainers. 12:23 p.m.: Select FMCG shares were witnessing selling pressure. The BSE FMCG index was down 0.4 per cent; ITC, Hindustan Uniliver, EID Parry, Balrampur Chini, GSK Consumer Healthcare, Bajaj Hindustan and Emami Ltd were among the losers. 12:06 p.m.: Nifty 8,300 strike price put option was the most active options contract on the NSE. The premium on the contract was up 1.8 per cent to Rs 91.60. As many as 6.27 lakh shares were added to the open interest of 3.55 million shares. 11:57 a.m.: Stock markets come off intraday lows. Sensex down 15 points at 27,264 and Nifty was at 8,363, down 8 points. 11:42 a.m.: IT stocks were witnessing selling pressure. The BSE IT index was down 0.32 per cent; Tata Elxsi, HCL Technologies, HCL Infosystems, Lycos Internet, NIIT Ltd, NIIT Tech and Polaris were among the losers. 11:34 a.m.: Market breadth was neutral as 1,187 stocks were advancing while 1,134 were declining. 11:22 a.m.: Metal stocks were witnessing buying interest. The BSE Metal index was up 0.62 per cent; Jindal Steel, NMDC, SAIL, Tata Steel, NALCO, Coal India, Hindustan Zinc and Hindalco were among the gainers. 11:10 a.m.: GAIL India was the top Sensex loser, down 1.6 per cent to Rs 390. NTPC, Tata Motors, Bharti Airtel, Bajaj Auto, Sun Pharma, Hero MotoCorp, Axis Bank, Cipla and Asian Paints were also among the losers. 10:57 a.m.: Auto stocks were among the worst hit in trades so far. The BSE Auto index fell 0.61 per cent; Ashok Leyland was the top loser from this space, down 4 per cent to Rs 93.85. Bajaj Auto, Tata Motors, hero MotoCorp, MRF, Bharat Forge and Eicher Motors were also among the losers, down 0.3-1.3 per cent each. 10:47 a.m.: Jaiprakash Associates shares rally as much as 36 per cent to hit intraday high of Rs 12.50 after UltraTech Cement agreed to pay higher price to acquire its cement assets. 10:41 a.m.: Stock markets extend losses. Sensex falls 103 points to 27,175 and Nifty slips 34 points to 8,336. 10:08 a.m.: Select banking stocks were witnessing selling pressure. The Bank Nifty was down 0.08 per cent; HDFC Bank, indusInd Bank and Axis Bank were among the losers. 10:05 a.m.: Shares of fertilizer manufacturers fell sharply on Tuesday, following the government's decision to cut retail prices of non-urea fertilizers yesterday. State-run fertilizer manufacturers cut the price of diammonium phosphate (DAP) by Rs 2,500 per tonne, while price of muriate of potash (MOP) was slashed by Rs 5,000 per tonne with immediate effect. Shares of private fertilizer manufacturers, which have also agreed to bring down prices, came under huge selling pressure today, following the downward revision in fertilizer prices. 10:00 a.m.: Ashok Leyland was the top loser from the mid-cap space, down 3 per cent at Rs 94.80. Biocon, Exide Industries, Indiabulls Housing Finance, UPL, Oberoi Realty, Castrol India and Petronet LNG were also among the laggards. 9:47 a.m.: Fertilizer shares like Coromandel International, EID Parry, Zuari Industries, Deepak Fertilizers, Tata Chemicals and Chambar Fertilizers fall as much as 14 per cent after the government cut prices of non-urea based fertilizers by up to Rs.5,000 per tonne. 9:36 a.m.: Market breadth was neutral as 809 stocks were declining while 792 were advancing on the BSE. 9:21 a.m.: Sensex and Nifty edged lower in opening deals after a six-day stellar rally on the back of profit-booking amid weak Asian markets. As of 9:19 a.m., the Sensex traded 22 points lower at 27,257 and Nifty was at 8,355, down 15 points. Meanwhile, Asian stock markets were trading with a negative bias. Japan's Nikkei fell 0.82 per cent, Hong Kong's Hang Seng declined 0.8 per cent and South Korea's KOSPI was down 0.34 per cent. Back home, in the opening deals, selling pressure was seen in select IT, capital goods, auto, realty, power and oil & gas stocks. From Nifty50 basket of stocks, 20 were advancing while 31 were declining. NTPC was the top Nifty loser, the stock fell 1.2 per cent to Rs 154.10. GAIL India, Tata Motors, Power Grid, Tata Power, Bajaj Auto, Hindalco and IndusInd Bank were also among the losers. On the other hand, UltraTech Cement was among the top Nifty gainers, up over a per cent at Rs 3,465 after the company agreed to pay higher value for 21.2 million tonne per annum (MTPA) cement assets of Jaypee Group. Adani Ports, Bosch, Dr Reddy's Labs, ICICI Bank and Bharti Infratel were also among the gainers. The broader markets were trading on a lacklustre note. The BSE mid-cap index was down 0.06 per cent and small-cap index jumped 0.05 per cent. 7:48 a.m.: Sensex is set to open lower after a six-day rally on the back of profit-booking as indicated by the Nifty futures traded on the Singapore Stock Exchange amid weak global markets. The Singapore Nifty or commonly known as SGX Nifty was down 0.33 per cent or 28 points at 8,364. Meanwhile, other Asian share markets were also trading on a weak note. Japan's Nikkei fell 0.83 per cent, Hong Kong's Hang Seng was down 1 per cent and South Korea's KOSPI slipped 0.31 per cent. The US markets were closed yesterday on account of market holiday due to USA's Independence Day. Back home, foreign institutional investors bought shares worth Rs 182.28 crore and domestic institutional investors bought shares worth Rs 377 crore on Monday. Shares of UltraTech Cement and Jaiprakash Associates will be in focus today after Jaypee Group on Monday hiked the sale value of 21.2 million tonne per annum (MTPA) cement assets to Aditya Birla Group firm UltraTech to Rs 16,189 crore.
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