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LIVE: Sensex down over 100 points, Nifty below 7,600; Maruti Suzuki under pressure

by April 7, 2016 General
bse sensex, nse nifty, stock market today The BSE Sensex opened 98.16 points up at 24998.79, while Nifty 50 index opened 16.05 points up at 7630.40. (Express Photo)

Domestic equity indices were trading in red in morning trade on Thursday on account of weak global cues. Sensex was down over 200 points, while Nifty fell below the psychological mark of 7,600.

11.30 am: After completing the Rs 4,300 crore buy back of shares, Hindustan Aeronautics Ltd (HAL) plans to hit the market with an initial public offering by 2016-end along with 10 per cent government stake sale.

11.19 am: Future Retail (FRL) shares climbed over 5 per cent intraday after it informed bourses that an asset management firm SSG Capital will acquire 40 per cent stake in Future Supply Chain Solutions (FSC) from existing shareholders, including Future Retail, for Rs 580 crore. READ MORE

Sensex was down 137 points at 24,762.

10.47 am: Maruti Suzuki India shares plunged as much as 3.40 per cent in the morning trade on Thursday after Yen hits fresh 17-month high against dollar on Thursday.

10.28 am: Meanwhile, Havells and Biocon hit their fresh 52-week high of Rs 332.70 and Rs 544.70. Sensex was down 210.47 points at 24690.16.

10.27 am: Rupee strengthened by 14 paise to 66.52 against the US dollar in early trade on fresh selling of the American currency by exporters.

10.25 am: Out of 12 stocks in the Nifty Bank index, only Axis Bank (up 0.69 per cent) and YES Bank (up 0.02 per cent) were trading in green. Bank of India and Canara Bank were down 1.94 per cent and 1.35 per cent respectively.

10.21 am: Sundram Fasteners shares soared as much as 10 per cent in the early trade on Thursday after the company announced that it has restructured its international operations to maximise revenue potential and shareholders’s value. It has created a new subsidiary called Sundram International Ltd, based in United Kingdom. READ MORE

10.08 am: Brokers said trimming of positions by participants ahead of earnings season, weak trend at other Asian markets despite the release of minutes from the Federal Reserve’s latest meeting showing policymakers broadly agree US interest rate should remain low, dampened trading sentiments. The 30-share index was down 236.40 points, or 0.95 per cent, at 24664.23.

9.37 am: Sensex was down 159 points at 24,741.63. Nifty was down 36.60 points at 7,577.75. Nava Bharat Ventures has entered into an agreement for renewal of conversion arrangement of Chrome Ore into Ferro Chrome, with Tata Steel for a period of 4 years commencing from April, 2016, to produce up to 70,000 MT of High Carbon Ferro Chrome per annum at its Odisha Ferro Alloy Plant. Shares of Nava Bharat were trading 1.91 per cent up at Rs 165.40.

 9.34 am: Sensex plunged further and was trading 100.46 points down at 24,800.17. Nifty was down 18.85 points at 7,595.
Source: NSE Source: NSE

9.20 am: Sensex was down 93.20 points at 24807.43. Nifty breached the psychological mark of 7,600 and was trading 22.05 points down at 7592.30.

9.16 am: Sensex was trading 68.58 points down at 24832.05. Nifty was down 11.30 points at 7603.05. Ashoka Buildcon shares were trading 15 per cent down at Rs 115.60.

9.15 am: The BSE Sensex opened 98.16 points up at 24998.79, while Nifty 50 index opened 16.05 points up at 7630.40.

9.10 am: As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs 493.56 crore on 6th April 2016. Domestic institutional investors bought shares worth Rs 258.68 crore on that day.

8.43 am: The BSE Sensex and NSE Nifty are likely to open on a flat note with negative bias on Thursday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global markets.

At 8.24 am (IST), SGX Nifty was trading 12 points down at 7,622.

Asian peers, Hang Seng, Nikkei and Shanghai were down by 0.13 per cent, 0.25 per cent and 0.91 per cent, respectively.

The Dow had ended Wednesday 0.64 per cent higher, while the S&P 500 gained 1.05 per cent and the Nasdaq 1.59 percent.

Back home, market benchmark Sensex on Wednesday inched up by 17 points to 24,900.63 on value-buying in beaten-down stocks amid mixed global cues.

Shares of Future Retail and Mandhana Industries will remain in focus on Thursday. SSG Capital Management is investing up to Rs 580 crore to acquire 40 per cent stake in Future Supply Chain Solutions Ltd (FSC) from the existing shareholders of the company at a valuation of up to Rs 1,450 crore. This will include 14 per cent stake to be acquired from Future Retail and the management team collectively, and 26 per cent from another minority shareholder SKC 1 ltd.

Bollywood superstar Salman Khan’s Being Human Clothing, which was operating as a retail division of Mandhana Industries, has been demerged from the company to form Mandhana Retail Ventures (MRVL).

(With agency inputs)