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Markets continue to trade weak weighed down by technology stocks amid a sell-off in the Asian equities in the wake of deadly terror attacks in Paris. Meanwhile, caution continues to prevail on the bourses ahead of the WPI numbers.
At 10:45 AM, the Sensex has lost 93 points to trade at 25,518 and the Nifty shed 30 points to trade at 7,733. In the broader market, BSE Midcap and Smallcap indices are in line with the benchmarks and are down 0.2% each.
Data released in Japan indicated that Japan's economy has slipped back into recession in the July-September quarter, contracting at a 0.8% annualised rate, compared with the median estimate for a 0.2 percent contraction.
Meanwhile, sentiment dented in China after Chinese stock regulators' announcement stated that it would hike margin finance requirements to reduce systemic risks.
Infosys, Tata Motors, ONGC, TCS and GAIL have lost between 1-2.3% on the Sensex while Dr Reddy’s Lab, ITC, Bharti Airtel, ICICI Bank and L&T have gained between 0.8-2%.
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(updated at 10:45 AM)Markets have opened the session on a lower note mirroring losses across the global peers in the wake of a recent terror attack in Paris causing panic among the investors. Meanwhile, sluggish macroeconomic data has further dampened the sentiments.
Market participants are keenly awaiting for the Wholesale price index (WPI) data due to be released today.
At 9:15 AM, the Sensex opened 108 points lower at 25,503 and the Nifty opened 37 points down at 7,725.
In the broader market, BSE Midcap and Smallcap indices are outperforming the benchmarks and are up 0.1% each. The market breath is positive with 654 advances versus 515 declines.
STOCK TRENDS
On the sectoral front, BSE 7 out 0f 12 sectoral indices are in red with BSE IT index down 1.4%.
State fuel retailers have hiked the price of petrol by 36 paise a litre and diesel by 87 paise a litre in a move to align local prices with international ones. BPCL and HPCL are trading with marginal gains.
Coal India posted a 16% jump in consolidated net profit at Rs 2,544 crore in the September quarter on the back of higher sales. However, the stock is trading lower by 2%.
Tata Steel has received green clearance for mining of mineral sand, used in coal production, from the riverbed of Gowai in Purulia District, West Bengal with a proposed production capacity of 0.2 million tonnes per annum. The stock is trading lower by 0.3%.
Bharti Airtel has decided to raise up to £500 million (about Rs 5,030 crore) via its first bond issue in the British currency and use the proceeds to refinance its current debt. However, the stock is down 0.5%
Maruti Suzuki will finally go ahead on Monday with its much-delayed minority shareholders voting to let parent Suzuki invest and own the upcoming plant in Gujarat. The stok is trading lower by 0.8%.
Sobha Developers posted a net profit of Rs 32 crore for the quarter ended September 30, 2015 as compared to Rs 56 crore reported for the same quarter last year. The stock has cracked 1%.
EID Parry has lost 1.5% after posting a consolidated net loss at Rs 30 crore for the second quarter ending September 30, 2015.
Four companies including Ashok Leyland, Cadila Healthcare, Maruti Suzuki India and Tata Motors will be added to the prestigious MSCI India index with effect from November 30, while Oil India and DLF will be removed. Ashok Leyland and Cadila Healthcare are up 0.4% each, while Maruti Suzuki and Tata Motors are down between 0.1-0.8%. On the other hand, DLF has lost 15 and Oil India has lost 5%.
JSPL reported a consolidated net loss of Rs 618 crore for the quarter ended September 2015 on account of impairment loss of Rs 227 crore in Australia and forex hit of Rs 213 crore. The stock is down 3%.
Welspun Corp posted a multi-fold jump in consolidated net profit at Rs 101 crore for the quarter ended September 30, 2015. The stock is up 6%.
GMR Infrastructure’s consolidated net loss in July-September quarter narrowed to Rs 399 crore on the back of better operating margins from power plants and robust traffic growth in airports. The stock has moved 6% higher.
GLOBAL MARKET
Asian stocks are trading lower on a Monday morning after the recent terrorist attack in Paris dampened the risk appetite of the investors. Meanwhile, weak macroeconomic data in Japan and tightening of margin trading rules in China further dented the sentiments. Japan’s Nikkei, China’s Shanghai Composite, Hong Kong’s Hnag Seng have slumped between 0.5-1.7%.
Data released in Japan indicated that Japan's economy has slipped back into recession in the July-September quarter, contracting at a 0.8% annualised rate, compared with the median estimate for a 0.2 percent contraction.
Meanwhile, Sentiment dented in China after Chinese stock regulators' announcement stated that it would hike margin finance requirements to reduce systemic risks.
