Benchmark index BSE Sensex and NSE Nifty pared their early morning gains and closed nearly 0.40 per cent down on fresh selling pressure amid weak global cues. Sensex closed 99.83 points down at 23,962.21, while NSE Nifty closed 32.50 points down at 7,276.80.
Profit-booking in blue-chips after early gains, caution ahead of earnings announcement from more key corporates and further weakening of the rupee, which again breached the 68 mark against the dollar also affected the market sentiments. Meanwhile, crude oil resumed its slide from $28 a barrel to hit fresh multi-year lows.
“It was a tumultuous day on the bourses today with key benchmark indices oscillating between the negative and the positive zones. Indian markets opened the day in the green following strong global cues but were unable to maintain the positive momentum and finally slipped into the red. Both the Sensex and the Nifty closed negative for the day, with the indices losing nearly 0.5% at close. On the sectoral front, auto, pharma and energy stocks suffered from heavy losses while banking and information technology stocks witnessed some buying interest. Already jittery investors were further spooked with US oil prices declining below $27/barrel after data showed that American crude inventories rose more than expected, ” said Shreyash Devalkar, fund manager – equities, BNP Paribas Mutual Fund.
In the 50-share index, Axis Bank, Ultratech Cement, Ambuja Cement, Bank of Baroda and Tata Steel gained between 1.75 per cent and 5.53 per cent. On the other hand, Tata Motors, Maruti Suzuki, Dr Reddy’s Labs, ONGC and Coal India slid between 3.19 per cent and 4.30 per cent.
Sectorwise, BSE Auto index fell the most — 1.86 per cent, followed by BSE Oil & Gas index (down 1.54 per cent), BSE Healthcare index (down 1.53 per cent), BSE FMCG index (down 1.41 per cent) and BSE Metal index (down 1.24 per cent). The BSE Bankex and BSE IT index gained 1.34 per cent and 0.72 per cent, respectively.
Market breadth for the day remained negative and advances to declines ratio for Nifty stood at 21:29 for the day.
Asian equity markets ended in red on Thursday, a day after global turmoil saw billions of dollars wiped off the value of shares. China’s fragile stock markets ended sharply lower on Thursday as oil prices gave up the day’s rally from 13-year lows. China’s central bank has decided to inject over 600 billion yuan ($91.19 billion) into the financial system ahead of the Lunar New Year holidays, dashing hopes of a cut in the reserve requirement ratio for banks. Japanese stocks plunged deeper into a bear market, wiping out gains from early in the day as global equities rout resumed.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 2,880.48 | -96.21 | -3.23 |
| Hang Seng | 18,542.15 | -344.15 | -1.82 |
| Jakarta Composite | 4,414.13 | -13.86 | -0.31 |
| KLSE Composite | 1,600.92 | -17.91 | -1.11 |
| Nikkei 225 | 16,017.26 | -398.93 | -2.43 |
| Straits Times | 2,532.70 | -27.07 | -1.06 |
| KOSPI Composite | 1,840.53 | -4.92 | -0.27 |
| Taiwan Weighted | 7,664.01 | -35.11 | -0.46 |
Data Source: Ace Equity
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Markets through the day
3.30 pm: Sensex closed 99.83 points down at 23,962.21, while NSE Nifty closed 32.50 points down at 7,276.80.
3.22 pm: Chambal Fertilisers shares tanked over 7 per cent while Essel Propack shares gained over 7 per cent post their Q3 result. Sensex was down 93 points at 23,968.
3.13 pm: Sensex was down 117.72 points at 23,944 in the volatile trading session. Nifty was down 33.75 points at 7,275. Meanwhile, Hindustan Zinc reported results for third quarter ended December 2015. The company reported 23.87 per cent fall in its net profit at Rs 1,811.39 crore for the quarter ended December 2015 as compared to Rs 2,379.37 crore for the same quarter in the previous year. Shares of Hindustan Zinc were trading 0.68 per cent up at Rs 139.85.
2.50 pm: Sensex was down 86 points at 23,975. Meanwhile, Exide Industries reported 37.77 per cent rise in its net profit at Rs 133.95 crore for the quarter ended December 31, 2015 as compared to Rs 97.23 crore for the same quarter in the previous year. The company’s total income decreased by 1.70 per cent to Rs 1,532.19 crore for the quarter under review from Rs 1,558.72 crore for the corresponding quarter of the previous year. Shares of Exide Industries were trading 3.84 per cent down at Rs 120.20.
2.47 pm: Mahindra and Mahindra Financial Services shares fell over 8 per cent after the company reported 38 per cent fall in its consolidated net profit figures to Rs 96.43 crore against Rs 156.78 crore in the corresponding quarter a year ago. Sensex was down 39 points at 24,022.
2.24 pm: Sectorwise, the BSE Auto index was down 1.65 per cent, followed by BSE Oil & Gas index (down 1.20 per cent), BSE Healthcare index (down 1.01 per cent) and BSE FMCG index (down 0.82 per cent). On the other hand, BSE Bankex and BSE IT index were up 1.1 per cent and 0.71 per cent. Sensex was down 66 points at 23,995. Nifty index was down 22 points at 7,287.
2.02 pm: China’s fragile stock markets ended sharply lower on Thursday as oil prices gave up the day’s rally from 13-year lows and other Asian markets went into reverse. Sensex was down 16.77 points at 24,045.27
1.44 pm: Markets rocked between negative and positive. Sensex gained 8.76 points at 24,070.80, while Nifty gained 3.25 points at 7,312.55.
1.26 pm: Mindtree, a digital transformation and technology services company, has launched Flooresense platform to increase in-store conversions for retailers. The solution will enable retailers to enhance customer experience and improve the productivity of store associates. Shares of Mindtree were trading 0.55 per cent up at Rs 1451. Sensex was down 101 points at 23,960.
1.07 pm: Kalpataru Power Transmission (KPTL) has secured new orders of approximately Rs 1,295 crore. The company has received order for establishment of Transmission system strengthening for transfer of power from New Hydro-electric power projects in Bhutan to India. The 400 KV transmission line project to be constructed in West Bengal and Bihar worth approximately Rs 864 crore has been awarded by the company’s 100 per cent subsidiary Alipurduar Transmission. This is the third BOOM project to be executed by the company. Shares of KPTL were trading 1.89 per cent down at Rs 187.30. Sensex was down 156 points at 23,905.
12.49 pm: Bond yields traded lower on Thursday as investors got support with the report that India’s current account deficit may narrow to 0.5 per cent of GDP in 2016 from 0.7 per cent in 2015 owing to lower commodity prices, particularly oil.
12.42 pm: China stocks ended Thursday down around 3 per cent after a volatile session, as relief over stabilizing currency markets and the central bank’s liquidity injection was offset by a tumble in US and European markets.
12.37 pm: Market benchmark Sensex was lower by 138 points at 23,923 on fresh selling pressure amid persistent foreign fund outflows. Foreign portfolio investors sold shares worth Rs 1,324.69
crore yesterday, as per provisional data.
12.20 pm: Natco Pharma shares were trading 4.51 per cent up at Rs 529.75 after it signed a non-exclusive licensing agreement with the Medicines Patent Pool (MPP) and Bristol-Myers Squibb to manufacture and sell generic versions of Daclatasvir, used for the treatment of chronic hepatitis C. Sensex was trading 119.90 points down at 23,942.14. NSE Nifty was trading 30.55 points down at 7,278.75.
11.58 am: Sensex was down 115 points at 23,946. IL&FS Engineering and Construction Company has received the Letter of Acceptance (LOA) from Gas Authority of India (GAIL), for Laying and Construction of Pipeline along with Associated Works for Pipeline Replacement Project in Gujarat region. The total length of the 12′ pipeline is 85 KM. The total value of the contract is Rs 52.4 crore (plus service tax), and is to be completed within 16 months from the date of issue of LOA. Shares of IL&FS Engineering and Construction were trading 2.83 per cent up Rs 54.50.
11.25 am: In the 50-share index, Axis Bank, Ultratech Cements, ICICI Bank, Ambuja Cements and YES Bank were up between 1.50 per cent and 5.22 per cent. On the other hand, ONGC, Idea Cellular, Tata Motors, HUL and Maruti Suzuki were down between 1.50 per cent and 3.05 per cent. Nifty was flat at 7,309.90.
11.14 am: Meanwhile, Citi cuts its 2016 global growth forecast again (to 2.7 per cent from 2.8 per cent), implying continued disinflationary pressures. Risks to the growth forecasts probably remain to the downside, with increasing risks of global recession. Sensex was up 12 points at 24,074.
11.08 am: Sensex was almost flat (up 0.02 per cent) at 24,065. ICICI Bank shares gained over 2 per cent after it inaugurated its first full service branch at Sandton at Johannesburg in South Africa. It is the first Indian private sector bank to open a branch in the African continent. The Johannesburg branch is an authorized financial services provider in South Africa licensed by the South African Reserve Bank.
11.05 am: US crude oil prices stabilised in early Asian trade on Thursday after hitting fresh 2003 lows the session before, but analysts said a persistent global glut would keep pressuring markets. In early Thursday trading, oil prices stabilised, with front-month West Texas Intermediate (WTI) crude futures trading at $28.70 per barrel at 0021 GMT.
11.00 am: Asian peers in red. Hang Seng, Nikkei and Shanghai were trading down by 0.60 per cent, 0.90 per cent and 0.50 per cent respectively. Sensex was up 27 points at 24,089.
10.59 am: The market capitalisation of the companies listed on the BSE shrank by Rs 10 lakh crore in 14 trading sessions so far in calendar 2016, as the benchmark indices lost close to 6.5 per cent, while mid-cap has declined more than 10 per cent since January 1.
10.44 am: Sensex fell over 300 points from day’s high. The index had touched a high and low of 24,351.83 and 24,018.85, respectively, in trade so far.
10.41 am: Hindustan Zinc shares were trading 0.65 per cent down at Rs 138 ahead of its Q3 results later in the day. Sensex was down 5.33 points at 24,056.
10.37 am: Sensex was down 3.11 points at 24,058. Nifty was up 3.80 points at 7,313.
10.16 am: According to market experts, value-buying in blue-chips amid a firming trend at other Asian bourses despite an overnight slump in the US markets supported market sentiments in the morning trade. Besides, covering-up of short positions at existing attractive levels by speculators also supported the recovery. Sensex was up 65 points at 24,126.
10.00 am: The rupee regained 13 paise to 67.82 against the dollar in early trade on fresh selling of the US currency by exporters and banks amid a higher opening in the domestic equity markets.
9.47 am: Somany Ceramics issued Commercial Papers of Rs 25 crore value dated January 20, 2016 having maturity on March 25, 2016. The aforesaid issuance of Commercial Paper is to reduce high interest bearing cash credit limits and in turn reducing cost of borrowing. Shares of Somany Ceramics were trading 1.09 per cent up at Rs 352.80.
9.43 am: Tata Elxsi shares gained over 1 per cent in the early trade after the company reported 39.56 per cent rise in its net profit at Rs 39.90 crore for the quarter ended December 31, 2015 as compared to Rs 28.59 crore for the same quarter in the previous year. The company’s total income increased by 23.57 per cent to Rs 275.04 crore for the quarter under review from Rs 222.58 crore for the corresponding quarter of the previous year. Sensex was up 130 points at 24,192. Nifty was up 46.60 points at 7,355.90.
9.32 am: Titan Company, India’s leading and the world’s fifth largest watchmaker has unveiled ‘JUXT’, India’s most stylish smartwatch, in partnership with global technology giant HP Inc. This watch is aimed at providing connectivity while staying true to the essence of classic watchmaking. Shares of Titan were trading 0.86 per cent up at Rs 344.
9.25 am: Nifty 50 index was up 88.80 points, or 1.21 per cent, at 7,398.10. Nifty Bank was trading 2.60 per cent up at 15,323.35. ICICI Bank, HDFC Bank and SBI were up by 3.70 per cent, 1.12 per cent and 2.65 per cent.
9.22 am: MMTC divested its 10 per cent equity stake in its Joint Venture Company (JVC) – Indian Commodity Exchange (ICEX) amounting to Rs 10 crore face value at a sum of Rs 20 crore to the two bidders who participated in the Global Tender Process floated by the company earlier. With this the company has a stake of 16 per cent in ICEX as on date. Shares of MMTC were trading 3.73 per cent up at Rs 40.75. Sensex was up 283 points at 24,345.
9.16 am: Sensex was trading 247 points up at 24,309 in the early trade. Axis Bank shares were trading 4.21 per cent up at Rs 405. Axis Bank on Wednesday logged a 15 per cent growth in its December quarter net profit at Rs 2,175 crore driven by core income, the third-largest private lender saw a sharp deterioration in asset quality due to action on large accounts as demanded by the Reserve Bank.
9.15 am: Benchmark index BSE Sensex opened 132.71 points up at 24,194.75 tracking Asian markets. NSE Nifty 50 index opened 67.35 points up at 7,376.65.
8.48 am: According to SMC Investment and Advisors, the coming session is likely to witness a range of 7,250 on declines and 7,400 on advances.
8.35 am: The BSE Sensex and NSE Nifty are likely to open in green on Thursday tracking SGX Nifty and Asian markets.
At 8.21 am (IST), SGX Nifty was up 51 points, or 0.69 per cent, at 7,367.50.
Asia stocks were higher on Thursday, but investors remained cautious as another shakeout on Wall Street and oil prices suggested volatility in financial markets will continue to temper risk appetite.
On Wall Street, major indices finished with declines of more than 1 per cent, though they were well off lows of more than 3 per cent.
Domestic equity markets on Wednesday witnessed a deep fall, plunging around 650 points to crash below the 24,000-level on global growth worries and sharp dip in oil prices before regaining some lost ground to settle 418 points lower at 24,062.04.
The NSE Nifty after cracking the crucial 7,300-mark, settled 125.80 points or 1.69 per cent down at 7,309.30.
Shares of Idea Cellular, Hindustan Zinc and InterGlobe Aviation (IndiGo) will remain in focus today as they are scheduled to announce their Q3 results on January 21.
Soothing the worried nerves amid the ongoing turmoil in global markets, Reserve Bank of India (RBI) governor, Raghuram Rajan has said that India is affected by the ‘same kind of jitters’ impacting other world markets, but things will stabilize and people will look at stable emerging markets, including India. Rajan allaying fears amid the stock market plunge and the rupee nearing its lowest-ever level, said things will stabilise and people will look at stable emerging markets.
(With agency inputs)
