Meanwhile, dollar fell to a 10-month low on Tuesday, bearing the brunt of a selloff triggered by another setback to US President Donald Trump's agenda and scaled back expectations for another rate hike at Federal Reserve this year.
SI Reporter |
4:05 PM Vinod Nair of Geojit Financial Services says: If we keep aside two stocks (ITC and Reliance Industries), the market was largely positive. But still there is chance of further consolidation in the near-term due to stock specific reactions as a result of weak Q1 result. Currently FY18 EPS forecast is very high at 20% while preview for Q1 is dull which will lead to downgrade.
3:47 PM Nifty Realty also added to the losses, down over 1% dragged by Unitech, Indiabulls Real Estate, DLF and Prestige Realty
3:45 PM Among global peers, MSCI All-Country World index was little changed while US stock futures were off 0.1%.
3:44 PM Cement maker ACC hit a record high, rising as much as 3.5% in intra-day, after it posted about 33% growth in June-quarter consolidated profit, beating analysts' estimates. The stock later pared gains to end 0.5% higher for the day
3:43 PM Shares of other cigarette makers such as Godfrey Phillips India also slipped over 10% to their lowest in nearly three months.
3:43 PM Consumer staple stocks accounted for nearly two-third of the losses on the Nifty, with Nifty FMCG index posting its biggest intraday percentage fall ever.
3:42 PM Top gainers and losers on BSE Sensex
3:40 PM HUL announces Q1: PAT at Rs 1,283 crore; revenue at Rs 9,094 crore
3:31 PM Benchmark indices ended the day lower with Sensex down over 300 points and Nifty below 9,850 dragged by index heavyweight ITC, which fell over 15% intra-day after GST Council increased cess on tobacco products.
Sentiment was further hurt by global peers. They also struggled with European shares off more than 0.4% as a set of disappointing results from the likes of Ericsson and Lufthansa soured the mood.
The S&P BSE Sensex ended the day at 31,711, down 364 points while the broader Nifty50 index settled at 9,827, down 89 points.
In broader markets, both BSE Midcap and BSE Smallcap indices ended the day 0.6% lower.
3:17 PM Nifty Bank erases intra-day gains, hovers around 24,000
3:12 PM Market Watch: Advance-decline ration worsens to 3:7, with 1,688 declines against 950 advances
3:02 PM Markets extend losses in the last leg of trade dragged by index heavyweight ITC after GST Council decide to increase cess on tobacco yesterday.
At 3:00 pm, the S&P BSE Sensex was trading at 31,722, down 352 points while the broader Nifty50 index was ruling at 9,821 down 94 points
In broader markets, BSE Midcap and BSE Smallcap indices fell 0.6% each.
2:24 PM HUL Preview: Edelweiss Securities says that they expect HUL to record a volume decline of nearly 1-2% YoY on a base of 4% YoY (volumes grew 4% YoY in Q4FY17 on a base of 4% YoY) owing to impact in CSD sales and destocking in wholesale channel owing to GST.
Click here to know what other brokerages say
2:19 PM Market Check: At 2:16 pm, the S&P BSE Sensex was trading at 31,856, down 217 points while the broader Nifty50 index was ruling at 9,867 down 48 points
In broader markets, BSE Midcap and BSE Smallcap indices were a little changed.
2:15 PM Reliance Industries fell 2% amid reports that the government has ordered RIL, Shell, and ONGC to pay a combined $3 billion as penalty over an arbitration award regarding the Panna Mukta Tapti (PMT) oil field.
Click here for full report
1:45 PM Ultratech Q1: Standalone PAT at Rs 898 crore; Revenue at Rs 7,929 crore
Stock gains over 1.5% post Q1
12:54 PM Five companies – Hindustan Unilever (HUL), Maruti Suzuki India, Adani Ports and Special Economic Zone (SEZ), ACC and Power Grid Corporation – from the Nifty50 index hit their respective all-time highs on the National Stock Exchange (NSE) in intra-day trade on Tuesday. Click here for full report
12:50 PM Indian economy is expected to grow at 7.2% this financial year, up from 6.8% in 2016, says a World Bank report. According to the report, though the anxiety about the festering twin-balance sheet problem persists, the economy may grow at an even higher 7.5% the year after.
12:49 PM ITC tanks 15% intra-day as GST Council increases cess on cigarettes. Should you sell the stock? READ HERE
12:25 PM Extending losses for third session in a row, Nifty FMCG index fell over 6% in today's trade, dragged mainly by the index heavyweight ITC, which was down over 11%
12:23 PM Market Check:At 12:22 pm, the S&P BSE Sensex was trading at 31,832, down 242 points while the Nifty50 was ruling at 9,857, down 58 points.
In broader markets, Both BSE Midcap and BSE Smallcap indices were a little changed.
11:47 AM Nifty Bank hits fresh record high of 24,129
11:08 AM Nifty FMCG slips over 6%, posts biggest ever intraday fall
11:01 AM The market breadth, indicating the overall health of the market, turned positive from negative. On BSE, 1,080 shares rose and 1,014 shares fell. A total of 114 shares were unchanged.
9:58 AM Nifty IT is the only sectoral index that is trading over 1% higher. TCS, Infosys and Wipro gain the most, up over 1% each.
9:49 AM ACC gained over 35 to Rs 1809 after the cement producer reported an about 33% rise in June-quarter consolidated profit, boosted by higher cement sales volume. CLICK HERE FOR FULL REPORT
9:43 AM In the broader market, the BSE Midcap and the BSE Smallcap indices traded flat for second session in a row.
9:37 AM S&P BSE Sensex heatmap
9:32 AM Bharti Airtel was the top gainer and rose nearly 3% to Rs 429 after the telecom major said it has infused more than Rs 30,000 crore in the last two years on boosting its network infrastructure.
9:20 AM MARKETS@OPEN
At 9:20 am, the S&P BSE Sensex was trading at 31,788, down 286 points, while the broader Nifty50 was ruling at 9,853, down 62 points.
9:12 AM STOCK WATCH: ITC tumbles 10% in pre-open trade
9:05 AM Buy Bharat Financial with a target price of Rs 885, says Prabhudas Lilladher. CLICK HERE FOR MORE STOCK PICKS
8:57 AM Markets on Monday: The FIIs were net buyers of stocks worth Rs 328.61 crore while the DIIs were net sellers of stocks worth Rs 447.4 crore
8:56 AM Crude oil futures edged higher, with US crude rising 0.2% to $46.10 per barrel and Brent crude adding 0.1% to $48.49. Crude prices had skidded about 1% on Monday as investors held out for strong indications that an OPEC-led effort to drain a glut was proving effective.
8:55 AM Results today: UltraTech Cement, Hindustan Unilever, Crisil, Sundaram Finance
8:55 AM The dollar edged down 0.1% on the day to 112.53 yen, well below its nearly four-month high of 114.495 touched last week.
8:53 AM At 8:52 am, the SGX Nifty was trading at 9,912, down 32 points or 0.33%.