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LIVE: Sensex turns flat after falling 100 points in early trade

by April 1, 2016 General

Stock markets on Friday opened on a subdued note on the first trading day of new financial year 2016-17, with the benchmark BSE Sensex sliding over 100 points and NSE Nifty slipping below the crucial 7,700-mark in early trade, despite positive economic data.

10.42 am: Bharat Wire Ropes shares made a debut on bourses on Friday listing 5 per cent higher at Rs 47.32 on BSE against the issue price of Rs 45. On the National Stock Exchange (NSE), shares of the company listed at Rs 47.25. Sensex was down 63.69 points at 25278. Nifty was trading 24.70 points down at 7,713. READ MORE

10.16 am: MEP Infrastructure shares surged as much as 7.89 per cent in the early trade on Friday after it informed bourses that it has received Letter of Acceptance from Road Infrastructure Development Company of Rajasthan (RIDCOR) to collect fee through contractor at two stretches on Alwar-Sikandra Road. READ MORE

Sensex was down 16.56 points at 25,325. Nifty was down 11.85 points at 7,726.

9.45 am: Jaiprakash Associates shares were trading 13.48 per cent up at Rs 8.67. Sensex was down 30 points at 25312.17, while Nifty was trading 15.80 points down at 7,722.60.

9.41 am: KEC International (KEC) shares gained over 2 per cent in the early trade after it informed bourses that the company has secured new orders of Rs 836 crore across various businesses. In the transmission and distribution (T&D) segment, the company bagged an order worth Rs 608 crore from Powergrid Southern Interconnector Transmission System — a wholly-owned subsidiary of PGCIL — for construction of transmission line associated with ‘Beyond Vemagiri’ Transmission System Project. It also bagged orders worth Rs 129 crore from Power Grid Jabalpur Transmission — a wholly-owned subsidiary of PGCIL — for construction of transmission lines associated with Vindhyachal-V project.

9.24 am: Aviation stocks were trading lower in the early trade after oil companies increased jet fuel prices by 8.7 per cent to Rs 42,157 per kl in Delhi. SpiceJet, IndiGo and Jet Airways were down by 0.08 per cent, 0.91 per cent and 0.42 per cent, respectively. Sensex was down 100.19 points at 25241. Nifty was trading 38.30 points down at 7,700.10.

9.16 am: Sensex was down 85.32 points at 25,256.54. Nifty was trading 27.70 points down at 7,710.70. Mahindra and Mahindra and Bharti Airtel were down 1 per cent.

9.15 am: The BSE Sensex opened 40.16 points down at 25,301.70, while Nifty 50 index opened 20.35 points lower at 7,718.05.

8.43 am: The BSE Sensex and NSE Nifty are likely to open in red on Friday tracking Nifty futures on the Singapore Stock Exchange and weak global cues.

At 8.31 am (IST), SGX Nifty was down 41.50 points, or 0.54 per cent, at 7,746.

Asian shares and the dollar both lost more ground as investors began the new quarter in a cautious mood, with glimmers of life in China’s economy offset by a darkening mood in Japan.

On Wall Street, the Dow ended 0.18 percent lower on Thursday, while the S&P 500 lost 0.2 per cent and the Nasdaq edged up 0.01 per cent.

The BSE Sensex on Thursday inched up by 3.28 points to 25,341.86 on caution due to carry-forward of positions to the April series and S&P putting China on negative outlook.

Aviation stocks will remain in focus on Friday as Jet Fuel prices were hiked in Delhi by 8.7 per cent to Rs 42,157 per kl.

(With agency inputs)