The Sensex slipped below the 26,000 level by falling over 300 points in mid-session trade Monday, pulled down mainly by financial stocks.
The Sensex pared gains after rallying as much as 120 points in morning trade on Monday, led by losses for HDFC, Infosys, TCS and Maruti Suzuki. The domestic market fluctuated between gains and losses as energy producers advanced, while automakers and lenders declined.
The Nifty50 reclaimed the 8,100 mark but immediately turned volatile ahead of expiry of November futures & options contracts due on Thursday.
At 3:08 PM, the S&P BSE Sensex is trading at 25,730, down 420 points, while NSE Nifty is trading at 7,9, down 155 points. It is the first time Nifty dropped below 8,000 since June 2016.
The BSE Mid-cap Index is trading down 2.93% at 11,719, whereas BSE Small-cap Index is trading down 3.19% at 11,490.
Holding ground in the gloomy market were WIPRO, INFY, ONGC while POWERGRID, SBI, HDFC bore the brunt through the first hour of trading.
Only IT index is trading in green, while realty, banking, auto, metal, financial and FMCG were in red.
The INDIA VIX is up 6.13% at 18.8975. Out of 1,885 stocks traded on the NSE, 1,384 declined, 226 advanced and 275 remained unchanged today.
A total of three stocks registered a fresh 52-week high in trade today, while 53 stocks touched a new 52-week low on the NSE.
Rashtriya Chemicals & Fertilizers Ltd fell 3% after the company reported a marginal fall in net profit at Rs 43 crore for the quarter ended September 30. Its net profit stood at Rs 45.6 crore in the year-ago period.
Panacea Biotec rallied 2% after the pharma company announce receipt of Establishment Inspection Report (EIR) from the USFDA indicating the formal closure of the cGMP and Pre Approval Inspection conducted by USFDA, at its Oncology Parenteral and Oral Solids Dosage formulation facilities at Malpur, Baddi in Himachal Pradesh.
Cadila Healthcare slipped 1.5%. Zydus Cadila has received the final approval from the USFDA to market for Metronidazole Tablets USP in strengths of 250 mg and 500 mg. The drug which is used to treat infections caused by bacetria will be produced at the group's formulations manufacturing facility at Baddi.
Mawana Sugars soared 12.6% to Rs 48 on the BSE. The Board of Directors of the Company has agreed to sell one of the operating units of the Company viz. Titawi Sugar Complex (TSC) in Uttar Pradesh as a going concern on an 'As is Where is What is' basis to Indian Potash Limited.
Techno Electric & Engineering Company gained 2% after the company has received an approval for sale/disposal of 45 MW Wind Power assets of the company, subject to approval of shareholders and other relevant authorities. The board of director at its meeting held on November 19, 2016 has approved for the same.
HPL Electric & Power hits 10% lower circuit at Rs 91. The company announced that the Company has reduced its debt around Rs 320 crore from IPO proceeds.
Punjab National Bank fell 6.6%. The bank has cut interest rate on fixed deposits by up to 0.25% in line with competition.
India Cements tanked 3%. The company reported a 62% jump in standalone net profit at Rs 62 crore for the quarter ended September 30, 2016. It had posted a net profit of Rs 38.5 crore in the year-ago period.
HDFC and Unitech are trading lower on the BSE. With Unitech defaulting on loan repayment, housing finance major HDFC said it has sold the realty firm's outstanding loan of Rs 869 crore to JM Financial Asset Reconstruction Company (JMFARC).
NHPC dipped 2%. The Company has posted a net profit of Rs 1,554.7 crore for the quarter ended September 30, 2016 where as the same was at Rs 1215.7 crore for the quarter ended September 30, 2015.
NBCC slumped 3.5%. NBCC reported a consolidated net profit of Rs 69 crore against net profit of Rs 68 crore in the corresponding quarter last year.
Bharat Forge tanked 3.5%. The company announced the acquisition of US-based Walker Forge Tennessee, for a total consideration of USD14mn. Bharat Forge has made this acquisition through its US subsidiary.
Infosys advanced 0.5%. The IT company has invested Rs 145 mn in a start-up UNSILO. The investment is done through Infosys innovation fund.
Alembic Pharmaceutical is trading marginally higher on the BSE. The company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Telmisartan and Amlodipine Tablets.
If you want to more information regarding the Stock cash tips, Stock tips, Nifty tips, Commodity tips, Equity tips call @ 8370098946 or fill form http://equityresearchlab.com/Freetrial.php
please drop your number for profit calls...?
please drop your number for profit calls...?
This comment has been removed by the author.
ReplyDeleteThis blog is really very informative, get 2 days Profitable Equity Tips Expert
ReplyDelete