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Market edges lower on negative European cues

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Key benchmark indices trimmed losses after hitting fresh intraday low in afternoon trade. At 13:19 IST, the barometer index, the S&P was down 95.72 points or 0.35% at 27577.88. The decline in the 50 index was higher than the Sensex's fall in percentage terms. The was currently down 48.10 points or 0.56% at 8,535.30. Weak opening in European shares triggered fresh selling in afternoon trade.

The hit a 14-week low. The hit its lowest level in more than 10 weeks. The lost 156.42 points or 0.57% at the day's low of 27,517.18 in afternoon trade, its lowest level since 11 July 2016. The barometer index rose 129.61 points or 0.46% at the day's high of 27,803.21 in morning trade, its highest level since 13 October 2016. The lost 65 points or 0.76% at the day's low of 8,518.40 in afternoon trade, its lowest level since 4 August 2016. The index rose 32 points or 0.37% at the day's high of 8,615.40 in morning trade, its highest level since 13 October 2016.

In overseas stock markets, European markets were trading lower in early trade today, 17 October 2016, as investors remained cautious ahead of earnings, key data and a European Central Bank (ECB) meeting later this week. Asian stocks witnessed a mixed trend. US stocks registered small gains on Friday, 14 October 2016, as investors digested commentary from key Federal Reserve officials while parsing through strong bank earnings and US economic data.

Back home, the market breadth indicating the overall health of the market was negative. On BSE, 1,370 shares declined and 1,243 shares rose. A total of 176 shares were unchanged. The Mid-Cap index was currently down 0.62%. The decline in this index was higher than Sensex's decline in percentage terms. The Small-Cap index was currently down 0.30%. The decline in this index was lower than Sensex's decline in percentage terms.

UltraTech Cement was down 0.95% to Rs 4,000. On a consolidated basis, the company's net profit rose 25.05% to Rs 614 crore on 2.53% decline in net sales to Rs 5709 crore in Q2 September 2016 over Q2 September 2015. The result was announced during trading hours today, 17 October 2016.

Metal shares edged lower. Hindustan Zinc (down 2.51%), Hindalco Industries (down 1.97%), National Aluminium Company (down 1.85%), NMDC (down 1.32%), Bhushan Steel (down 1.17%), Steel Authority of India (down 0.94%), JSW Steel (down 0.74%), Vedanta (down 0.56%), Jindal Steel & Power (down 0.52%), Tata Steel (down 0.41%) and Hindustan Copper (down 0.26%), edged lower.

Meanwhile, copper price edged higher in the global commodities markets. High Grade Copper for December 2016 delivery was currently up 0.14% at $2.1135 per pound on the COMEX.

Most realty shares edged lower. Unitech (down 3.99%), Prestige Estates Projects (down 2.48%), DLF (down 2.26%), Indiabulls Real Estate (down 2.16%), Housing Development and Infrastructure (HDIL) (down 1.57%), D B Realty (down 1.16%), Mahindra Lifespace Developers (down 0.98%), Peninsula Land (down 0.79%), Anant Raj (down 0.55%), Parsvnath Developers (down 0.14%), Sobha (down 0.1%) and Omaxe (down 0.09%), edged lower. Godrej Properties (up 0.11%), Sunteck Realty (up 0.20%), Oberoi Realty (up 0.57%) and Phoenix Mills (up 0.81%), edged higher.

MEP Infrastructure Developers rose 1.63% after the company said that its two subsidiaries achieved financial closures for four laning stand alone ring road/bypass project in Nagpur. The announcement was made at the onset of the trading session today, 17 October 2016.

MEP Infrastructure Developers said that MEP Nagpur Ring Road 1 Private Limited, a subsidiary of the company, achieved the financial closure within the stipulated time in accordance with the concession agreement executed with National Highways Authority of India (NHAI) dated 19 May 2016 for four laning stand alone ring road/bypass for the Nagpur City package I in Maharashtra on build, operate, transfer (BOT) (Hybrid Annuity) basis, by tying up of project finance of Rs 238.95 crore. The bid project cost is Rs 531 crore out of which project finance will contribute Rs 238.95 crore and remaining will be funded by grant from NHAI and equity contribution by the company. The construction period of the project is 30 months from the appointed date. The concession period is 15 years (excluding construction period of 30 months). The company will receive bi-annual annuity from NHAI post commercial operation sate (COD).

Separately, MEP Infrastructure Developers announced that MEP Sanjose Nagpur Ring Road 2 Private Limited a subsidiary of the company, achieved the financial closure within the stipulated time in accordance with the concession agreement executed with NHAI dated 19 May 2016 for four laning stand alone ring road/bypass for the Nagpur City package II in Maharashtra on BOT (Hybrid Annuity) basis, by tying up of project finance of Rs 287.55 crore. The bid project cost is Rs 639 crore out of which Project finance will contribute Rs 287.55 crore and remaining will be funded by grant from NHAI and equity contribution by the company. The construction period of the project is 30 months from the appointed date. The concession period is 15 years (excluding construction period of 30 months). The company will receive bi-annual annuity from NHAI post commercial operation date (COD).

Ujaas Energy rose 2.58% after the company won order for grid interactive rooftop & small solar PV power plant of upto 5Kwp. The announcement was made on Saturday, 15 October 2016. Ujaas Energy received an order for design, manufacture, supply, erection, testing and commissioning of grid interactive rooftop and small solar PV power plants on 364 houses with a capacity of 4 & 5 Kwp at various locations in two districts of Uttarakhand from Uttarakhand Renewable Energy Development Agency.

On the macro front, data released by the government after market hours on Friday, 14 October 2016 showed that India's trade deficit narrowed to $8.34 billion in September 2016, from $10.17 billion a year earlier. Imports declined 2.54% to $31.22 billion. Exports rose 4.62% to $22.88 billion.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Market edges lower on negative European cues

Key benchmark indices trimmed losses after hitting fresh intraday low in afternoon trade. At 13:19 IST, the barometer index, the S&P BSE Sensex was down 95.72 points or 0.35% at 27577.88. The decline in the Nifty 50 index was higher than the Sensex's fall in percentage terms. The Nifty was currently down 48.10 points or 0.56% at 8,535.30. Weak opening in European shares triggered fresh selling in afternoon trade.

Key benchmark indices trimmed losses after hitting fresh intraday low in afternoon trade. At 13:19 IST, the barometer index, the S&P was down 95.72 points or 0.35% at 27577.88. The decline in the 50 index was higher than the Sensex's fall in percentage terms. The was currently down 48.10 points or 0.56% at 8,535.30. Weak opening in European shares triggered fresh selling in afternoon trade.

The hit a 14-week low. The hit its lowest level in more than 10 weeks. The lost 156.42 points or 0.57% at the day's low of 27,517.18 in afternoon trade, its lowest level since 11 July 2016. The barometer index rose 129.61 points or 0.46% at the day's high of 27,803.21 in morning trade, its highest level since 13 October 2016. The lost 65 points or 0.76% at the day's low of 8,518.40 in afternoon trade, its lowest level since 4 August 2016. The index rose 32 points or 0.37% at the day's high of 8,615.40 in morning trade, its highest level since 13 October 2016.

In overseas stock markets, European markets were trading lower in early trade today, 17 October 2016, as investors remained cautious ahead of earnings, key data and a European Central Bank (ECB) meeting later this week. Asian stocks witnessed a mixed trend. US stocks registered small gains on Friday, 14 October 2016, as investors digested commentary from key Federal Reserve officials while parsing through strong bank earnings and US economic data.

Back home, the market breadth indicating the overall health of the market was negative. On BSE, 1,370 shares declined and 1,243 shares rose. A total of 176 shares were unchanged. The Mid-Cap index was currently down 0.62%. The decline in this index was higher than Sensex's decline in percentage terms. The Small-Cap index was currently down 0.30%. The decline in this index was lower than Sensex's decline in percentage terms.

UltraTech Cement was down 0.95% to Rs 4,000. On a consolidated basis, the company's net profit rose 25.05% to Rs 614 crore on 2.53% decline in net sales to Rs 5709 crore in Q2 September 2016 over Q2 September 2015. The result was announced during trading hours today, 17 October 2016.

Metal shares edged lower. Hindustan Zinc (down 2.51%), Hindalco Industries (down 1.97%), National Aluminium Company (down 1.85%), NMDC (down 1.32%), Bhushan Steel (down 1.17%), Steel Authority of India (down 0.94%), JSW Steel (down 0.74%), Vedanta (down 0.56%), Jindal Steel & Power (down 0.52%), Tata Steel (down 0.41%) and Hindustan Copper (down 0.26%), edged lower.

Meanwhile, copper price edged higher in the global commodities markets. High Grade Copper for December 2016 delivery was currently up 0.14% at $2.1135 per pound on the COMEX.

Most realty shares edged lower. Unitech (down 3.99%), Prestige Estates Projects (down 2.48%), DLF (down 2.26%), Indiabulls Real Estate (down 2.16%), Housing Development and Infrastructure (HDIL) (down 1.57%), D B Realty (down 1.16%), Mahindra Lifespace Developers (down 0.98%), Peninsula Land (down 0.79%), Anant Raj (down 0.55%), Parsvnath Developers (down 0.14%), Sobha (down 0.1%) and Omaxe (down 0.09%), edged lower. Godrej Properties (up 0.11%), Sunteck Realty (up 0.20%), Oberoi Realty (up 0.57%) and Phoenix Mills (up 0.81%), edged higher.

MEP Infrastructure Developers rose 1.63% after the company said that its two subsidiaries achieved financial closures for four laning stand alone ring road/bypass project in Nagpur. The announcement was made at the onset of the trading session today, 17 October 2016.

MEP Infrastructure Developers said that MEP Nagpur Ring Road 1 Private Limited, a subsidiary of the company, achieved the financial closure within the stipulated time in accordance with the concession agreement executed with National Highways Authority of India (NHAI) dated 19 May 2016 for four laning stand alone ring road/bypass for the Nagpur City package I in Maharashtra on build, operate, transfer (BOT) (Hybrid Annuity) basis, by tying up of project finance of Rs 238.95 crore. The bid project cost is Rs 531 crore out of which project finance will contribute Rs 238.95 crore and remaining will be funded by grant from NHAI and equity contribution by the company. The construction period of the project is 30 months from the appointed date. The concession period is 15 years (excluding construction period of 30 months). The company will receive bi-annual annuity from NHAI post commercial operation sate (COD).

Separately, MEP Infrastructure Developers announced that MEP Sanjose Nagpur Ring Road 2 Private Limited a subsidiary of the company, achieved the financial closure within the stipulated time in accordance with the concession agreement executed with NHAI dated 19 May 2016 for four laning stand alone ring road/bypass for the Nagpur City package II in Maharashtra on BOT (Hybrid Annuity) basis, by tying up of project finance of Rs 287.55 crore. The bid project cost is Rs 639 crore out of which Project finance will contribute Rs 287.55 crore and remaining will be funded by grant from NHAI and equity contribution by the company. The construction period of the project is 30 months from the appointed date. The concession period is 15 years (excluding construction period of 30 months). The company will receive bi-annual annuity from NHAI post commercial operation date (COD).

Ujaas Energy rose 2.58% after the company won order for grid interactive rooftop & small solar PV power plant of upto 5Kwp. The announcement was made on Saturday, 15 October 2016. Ujaas Energy received an order for design, manufacture, supply, erection, testing and commissioning of grid interactive rooftop and small solar PV power plants on 364 houses with a capacity of 4 & 5 Kwp at various locations in two districts of Uttarakhand from Uttarakhand Renewable Energy Development Agency.

On the macro front, data released by the government after market hours on Friday, 14 October 2016 showed that India's trade deficit narrowed to $8.34 billion in September 2016, from $10.17 billion a year earlier. Imports declined 2.54% to $31.22 billion. Exports rose 4.62% to $22.88 billion.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Business Standard
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Market edges lower on negative European cues

Key benchmark indices trimmed losses after hitting fresh intraday low in afternoon trade. At 13:19 IST, the barometer index, the S&P was down 95.72 points or 0.35% at 27577.88. The decline in the 50 index was higher than the Sensex's fall in percentage terms. The was currently down 48.10 points or 0.56% at 8,535.30. Weak opening in European shares triggered fresh selling in afternoon trade.

The hit a 14-week low. The hit its lowest level in more than 10 weeks. The lost 156.42 points or 0.57% at the day's low of 27,517.18 in afternoon trade, its lowest level since 11 July 2016. The barometer index rose 129.61 points or 0.46% at the day's high of 27,803.21 in morning trade, its highest level since 13 October 2016. The lost 65 points or 0.76% at the day's low of 8,518.40 in afternoon trade, its lowest level since 4 August 2016. The index rose 32 points or 0.37% at the day's high of 8,615.40 in morning trade, its highest level since 13 October 2016.

In overseas stock markets, European markets were trading lower in early trade today, 17 October 2016, as investors remained cautious ahead of earnings, key data and a European Central Bank (ECB) meeting later this week. Asian stocks witnessed a mixed trend. US stocks registered small gains on Friday, 14 October 2016, as investors digested commentary from key Federal Reserve officials while parsing through strong bank earnings and US economic data.

Back home, the market breadth indicating the overall health of the market was negative. On BSE, 1,370 shares declined and 1,243 shares rose. A total of 176 shares were unchanged. The Mid-Cap index was currently down 0.62%. The decline in this index was higher than Sensex's decline in percentage terms. The Small-Cap index was currently down 0.30%. The decline in this index was lower than Sensex's decline in percentage terms.

UltraTech Cement was down 0.95% to Rs 4,000. On a consolidated basis, the company's net profit rose 25.05% to Rs 614 crore on 2.53% decline in net sales to Rs 5709 crore in Q2 September 2016 over Q2 September 2015. The result was announced during trading hours today, 17 October 2016.

Metal shares edged lower. Hindustan Zinc (down 2.51%), Hindalco Industries (down 1.97%), National Aluminium Company (down 1.85%), NMDC (down 1.32%), Bhushan Steel (down 1.17%), Steel Authority of India (down 0.94%), JSW Steel (down 0.74%), Vedanta (down 0.56%), Jindal Steel & Power (down 0.52%), Tata Steel (down 0.41%) and Hindustan Copper (down 0.26%), edged lower.

Meanwhile, copper price edged higher in the global commodities markets. High Grade Copper for December 2016 delivery was currently up 0.14% at $2.1135 per pound on the COMEX.

Most realty shares edged lower. Unitech (down 3.99%), Prestige Estates Projects (down 2.48%), DLF (down 2.26%), Indiabulls Real Estate (down 2.16%), Housing Development and Infrastructure (HDIL) (down 1.57%), D B Realty (down 1.16%), Mahindra Lifespace Developers (down 0.98%), Peninsula Land (down 0.79%), Anant Raj (down 0.55%), Parsvnath Developers (down 0.14%), Sobha (down 0.1%) and Omaxe (down 0.09%), edged lower. Godrej Properties (up 0.11%), Sunteck Realty (up 0.20%), Oberoi Realty (up 0.57%) and Phoenix Mills (up 0.81%), edged higher.

MEP Infrastructure Developers rose 1.63% after the company said that its two subsidiaries achieved financial closures for four laning stand alone ring road/bypass project in Nagpur. The announcement was made at the onset of the trading session today, 17 October 2016.

MEP Infrastructure Developers said that MEP Nagpur Ring Road 1 Private Limited, a subsidiary of the company, achieved the financial closure within the stipulated time in accordance with the concession agreement executed with National Highways Authority of India (NHAI) dated 19 May 2016 for four laning stand alone ring road/bypass for the Nagpur City package I in Maharashtra on build, operate, transfer (BOT) (Hybrid Annuity) basis, by tying up of project finance of Rs 238.95 crore. The bid project cost is Rs 531 crore out of which project finance will contribute Rs 238.95 crore and remaining will be funded by grant from NHAI and equity contribution by the company. The construction period of the project is 30 months from the appointed date. The concession period is 15 years (excluding construction period of 30 months). The company will receive bi-annual annuity from NHAI post commercial operation sate (COD).

Separately, MEP Infrastructure Developers announced that MEP Sanjose Nagpur Ring Road 2 Private Limited a subsidiary of the company, achieved the financial closure within the stipulated time in accordance with the concession agreement executed with NHAI dated 19 May 2016 for four laning stand alone ring road/bypass for the Nagpur City package II in Maharashtra on BOT (Hybrid Annuity) basis, by tying up of project finance of Rs 287.55 crore. The bid project cost is Rs 639 crore out of which Project finance will contribute Rs 287.55 crore and remaining will be funded by grant from NHAI and equity contribution by the company. The construction period of the project is 30 months from the appointed date. The concession period is 15 years (excluding construction period of 30 months). The company will receive bi-annual annuity from NHAI post commercial operation date (COD).

Ujaas Energy rose 2.58% after the company won order for grid interactive rooftop & small solar PV power plant of upto 5Kwp. The announcement was made on Saturday, 15 October 2016. Ujaas Energy received an order for design, manufacture, supply, erection, testing and commissioning of grid interactive rooftop and small solar PV power plants on 364 houses with a capacity of 4 & 5 Kwp at various locations in two districts of Uttarakhand from Uttarakhand Renewable Energy Development Agency.

On the macro front, data released by the government after market hours on Friday, 14 October 2016 showed that India's trade deficit narrowed to $8.34 billion in September 2016, from $10.17 billion a year earlier. Imports declined 2.54% to $31.22 billion. Exports rose 4.62% to $22.88 billion.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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