Markets settle near day's low; Sensex down 216 points, Nifty ends at 9,908

All that happened in today's trade

3:52 PM

Anand James, Chief Market Strategist, Geojit Financial Services

 

Likelihood of Sebi letting its hook off a few companies from the shell company notification gave brief respite to the sell off, but geo political tension continued to keep risk appetite under check. The rise of VIX, a measure of volatility, above 13 also looks to have prompted investors to take money off the table.

3:50 PM

Tata Motors Q1 earnings

Tata Motors reported June quarter earnings below Street expectations. The auto major's consolidated net profit grew 41.5% to Rs 3,199 crore against Rs 2,260 crore reported in the same quarter of previous fiscal year. Its consolidated revenues slipped 9.3% to come in at Rs 58,493 crore against Rs 65,003 crore posted in Q1FY16.

The stock settled at Rs 416, down 3% on the BSE. 

3:43 PM

Top Sensex gainers and losers 

Source: BSE

3:39 PM

Sectoral trend

All sectoral indices settled in red. Nifty Pharma (down 4%) shed the most. 

Source: NSE

3:38 PM

Market breadth

 

The broad market depicted weakness. There were more than three losers against every gainer on BSE. 1,976 shares declined and 604 shares rose. A total of 114 shares were unchanged.

3:37 PM

Broader markets underperform

The BSE Midcap shed 1.6%, while the BSE Smallcap lost 1.8%. 

3:36 PM

Markets at close

The Sensex settled at 31,797, down 216 points, while the broader Nifty50 ended at 9,908, down 70 points. The 50-share Nifty had slipped below its crucial 9,900 in the last leg of the trade. 

3:19 PM

Inflation seen picking up

 

Retail inflation is expected to have picked up slightly in July after cooling in the previous three months, a Reuters poll showed, but likely remained well below the central bank's 4% medium-term target. READ MORE 

3:08 PM

Volatility index

India VIX was trading over 4% higher at 13. 

Source: NSE

3:04 PM

Markets check

At 3:00 pm, the Sensex was trading at 31,882, down 132 points, while the broader Nifty50 was ruling at 9,932, down 45 points.

2:50 PM

European markets

 

European markets opened lower as geopolitical concerns restrained investor sentiments. FTSE 100 index was trading at 7,498 levels, lower by 43.76 points, CAC 40 index was at 5,175 levels, down by 42.99 points, while the German DAX was at 12,206 levels, down by 85.62 points, while, the pan-European Stoxx 600 was down by 0.05%.

2:32 PM

Oil update

 

Oil held around $52 a barrel as an industry report showing a large drop in U.S. crude stocks countered doubts that compliance with OPEC-led supply cuts will increase. US crude inventories last week fell by 7.8 million barrels, more than expected, but gasoline inventories rose unexpectedly, data from the American Petroleum Institute (API) showed on Tuesday ahead of Wednesday's official numbers.

 

Brent crude, the global benchmark, was unchanged at $52.14 after two days of decline. US West Texas Intermediate (WTI) crude added 4 cents at $49.21.

2:16 PM

Earnings impact

 

Bank of India (BOI), rose over 6% to Rs 162 in intraday trade after the country's sixth biggest lender by assets reported profit for the June quarter as its bad loan ratio narrowed and loan-loss provisions fell. CLICK HERE FOR DETAILED EARNINGS

1:56 PM

Nifty Realty top sectoral gainer in CY17 so far

 

Realty stocks have been on fire with the Nifty Realty index topping the sectoral chart on year-to-date basis on the hopes of a turnaround and transparency in the sector post the implementation of Real Estate (Regulation and Development) Act (RERA) and Goods and Services Tax (GST). CLICK HERE FOR FULL REPORT

1:32 PM

Nifty Pharma index falls nearly 3%

Source: NSE

1:19 PM

Sun Pharma, Adani Ports, Cipla, Bajaj Auto and Tata Motors were the top losers on BSE Sensex

12:52 PM

Natco Pharma dipped 8% to Rs 856, extending Tuesday’s 4% decline on BSE, on profit booking after the company’s net profit nearly doubled at Rs 93.7 crore for the quarter ended June, 2017 (Q1FY18). The company had posted a profit of Rs 47.5 crore in the corresponding period previous year.

 

The consolidated revenue for the quarter grew 30% to Rs 449 crore as compared to Rs 346 crore in the year ago period.

 

So far in 2017, the stock of pharmaceutical company had outperformed the market by gaining 65% till Monday. On comparison, the S&P BSE Sensex was up 21%, while S&P BSE Healthcare index was down 6% during the period.

12:23 PM

Market check

At 12:23 pm, the S&P BSE Sensex was trading at 31,890, down 123 points while the broader Nifty50 index was ruling at 9,942, down 35 points

11:54 AM

SRF slipped 8% to Rs 1,420 on BSE in intra-day after the company’s consolidated net profit declined 33% year-on-year (YoY) to Rs 104 crore in June quarter (Q1FY18), due to higher raw material cost. The company had profit of Rs 155 crore in the same quarter year ago.

 

SRF said the decrease in net profit was mainly on account of subdued commodity prices, channel destocking during the transition to the Goods and Services Tax (GST) regime and strengthened rupee.

11:36 AM

Sebi ban on shell companies: You should be seriously worried

 

Investors say Sebi has taken a very wide view without understanding the nuances.

 

If you hold shares in any of the suspected shell companies that have been banned from trade following the Sebi order on Monday, you have a genuine reason to worry – at least for now.

 

On Monday, market regulator Sebi, directed the stock exchanges to ban trading in shares of 331 suspected shell companies and placed them under a graded surveillance measure (GSM) stage VI, where trading in the security is allowed only once a month with “surveillance deposit” of three times the trade value.

 

Click here for full story

(Photo: iSTOCK)

11:18 AM

Centrum Capital hit a record high of Rs 61.50, up 14% on BSE in intra-day trade after an over 2% of total equity of financial services company changed hands on the counter through multiple block deals.

10:50 AM

JBF Industries hit a fresh 52-week low of Rs 143, down 19%, extending its over 25% fall on BSE, after the rating agencies downgraded the rating of the company on delays in servicing its debt obligations by JBF group.

 

In past two weeks, the stock slipped 47% from Rs 269, as against 1.4% decline in the S&P BSE Sensex.

10:30 AM

Benchmark indices pared some gains but continued trading in red.

At 10:30 am, the S&P BSE Sensex was trading at 31,955, down 59 points while the broader Nifty50 index was ruling at 9,967, down 11 points

10:03 AM

IOC gains over 2% after Credit Suisse increased its FY18/19 EPS estimates for the comapny by 3% and 4%, respectively, while maintaining target of Rs 505/share. 

A logo of Indian Oil is picture outside a fuel station in New Delhi

9:51 AM

Earnings impact

JSPL gained 1% after the company reported narrowing of its consolidated loss to Rs 420.4 crore for the quarter ended on June 30, 2017. Naveen Jindal-led company had reported a consolidated loss of Rs 1,238 crore for the corresponding quarter of previous fiscal. 

9:43 AM

Ahead of earnings

Tata Motors fell 1.05 %, Aurobindo Pharma slipped 2.92 %, PTC India Financial lost 1.87 % and Thomas Cook shed 0.45 % while Eicher Motors gained 0.11 % and NMDC advanced 1.14% ahead of their Q1 earnings

9:34 AM

Tata Teleservices fell over 4% after reports that the company's lenders may recall loans of Rs 1,911 crore as the telecom firm has not been able to satisfy them with its financial performance, according to company note on the Bombay Stock Exchange. 

9:28 AM

All indices except metal were trading in red on NSE. Nifty Realty dragged the most, down 2% followed by Nifty Pharma, which slipped 1.8%, Nifty Private bank, which lost 0.9% and Nifty FMCG which shed 0.8%

9:26 AM

Sun Pharma slips on acquisition

Sun Pharmaceutical Industries fell over 4% after ot announced that it was pumping in $7 million for a 15.9% stake in US-based bio-pharmaceutical company Krystal Biotech Inc. According to a stock market disclosure by Sun Pharma, the transaction, which does not require regulatory approvals, will be completed on Wednesday.

 

Krystal Biotech is engaged in gene therapy research to develop treatments for rare debilitating disorders.

9:22 AM

Top gainers and losers on BSE Sensex

Source: BSE