LIVE: Sensex, Nifty continue to trade flat; Jyothy Labs surges
The BSE Sensex slipped nearly 68 points in the morning trade on account of profit booking in FMCG, healthcare, capital goods and oil & gas stocks coupled with weak Asian cues.
10.39 am: In the 50-share index, Tata Motors, Tech Mahindra, Hindalco, Coal India and Idea Cellular were up between 0.88 per cent and 1.67 per cent. On the other hand, Larsen & Toubro, ITC, GAIL, Bajaj Auto and Lupin were down between 1.14 per cent and 1.47 per cent.
10.03 am: Rupee on Thursday recovered by 9 paise to 67.36 against the dollar in early trade on fresh selling of the American currency by exporters. Sensex was trading 36.79 points down at 26,681. Nifty was down 15.15 points at 8,164.
9.27 am: Tata Motors shares were trading over 2 per cent higher after the company reported total commercial and passenger vehicles sales (including exports) in May 2016 which stood at 40,071 vehicles, a growth of 1 per cent over 39,496 vehicles sold in May 2015. The company’s domestic sales of its commercial and passenger vehicles for May 2016 stood at 35,643 units, a growth of 2 per cent, over May 2015. Cumulative sales (including exports) for the company for the fiscal was at 79,453 units, higher by 5 per cent over 75,641 vehicles, sold last year. Sensex was down 1.30 points at 26,712.
9.15 am: The BSE Sensex opened 19.65 points down at 26694.28. Jyothy Labs shares surged over 10 per cent in the early trade on reports that Henkel AG may invest in Jyothy Laboratories this year.
8.12 am: The BSE Sensex and NSE Nifty are likely to open lower on Thursday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.
Asian peers, Nikkei, Hang Seng and Shanghai were down by 2.29 per cent, 0.05 per cent and 0.07 per cent, respectively, in the morning trade.
The US markets closed higher on Wednesday, as investors focused on the positive aspects of the latest batch of data that showed the US economy plodding along. The Dow Jones Industrial Average was up 2.47 points or 0.01 per cent to 17,789.67, Nasdaq was higher by 4.19 points or 0.08 per cent to 4,952.25 while, S&P 500 gained 2.37 points or 0.11 per cent to 2,099.33.
After a day’s pause, benchmark Sensex resumed its upward march on Wednesday by regaining almost 46 points to end at 7-month high of 26,713.93, spurred by rally in FMCG, teck and oil&gas stocks as buying activity re-emerged on robust GDP numbers and core infrastructure sector growth.
Shares of Sun Pharma, Jyothy Labs, Hero Moto, VST Tillers and M&M will remain in focus on Thursday. According to American brokerage Jefferies, Sun’s fourth quarter results reflect that the key headwinds to recovery still persist, coupled with pricing pressure.
Country’s largest two-wheeler maker Hero MotoCorp on Wednesday reported a 2.32 per cent increase in sales at 5,83,117 units in May.
VST Tillers Tractors has reported sales of Power Tillers and Tractors of the company for quarter ended March 31, 2015. The company has sold 1,933 Tractors for quarter ended March 31, 2016 as compared to 1,607 Tractors sold during the same quarter last year.
Mahindra’s South African subsidiary has launched a new compact utility vehicle in Johannesburg with the company trying to reach out to the youth with its latest offering and capture a bigger market share in the country. The new sporty KUV100, available in petrol and diesel, is the smallest vehicle in Mahindra South Africa’s product range.
According to reports, Henkel AG may invest in Jyothy Laboratories this year. Henkel had the option to pick up to 26 per cent stake in Jyothy five years after the latter acquired its Indian subsidiary in May 2011.