Finally, the BSE Sensex ended with a loss of 54 points at 27,782. The BSE Sensex opened at 27,883 touched an intra-day high of 27,936 and low of 27,697.
The NSE Nifty closed with a loss of 20 points at 8,573. The NSE Nifty opened at 8,614 hitting a high of 8,624 and low of 8,547.
The Indian stock market trading lower ahead of a speech by U.S. Federal Reserve Chair Janet Yellen in Jackson Hole, Wyoming later in the day.
At 1:32 PM, the S&P BSE Sensex is trading at 27,781 down 55 points, while NSE Nifty is trading at 8,576 down 16 points.
The BSE Mid-cap Index is trading up 0.14% at 12,996 whereas BSE Small-cap Index is trading up 0.05% at 12,508.
GAIL, Tata Motors, RIL, Lupin, Cipla and M&M are among the gainers, whereas Wipro, Adani Ports, L&T, SBI, Infosys and ICICI Bank are losing sheen on BSE.
Some buying activity is seen in consumer durables, oil and gas, auto, utilities and energy sectors, while capital goods, banking, IT, finace, metal and teck sectors are showing weakness on BSE.
The INDIA VIX is up 1.43% at 13.4750. Out of 1,848 stocks traded on the NSE, 943 declined, 610 advanced and 295 remained unchanged today.
A total of 26 stocks registered a fresh 52-week high in trades today, while three stocks touched a new 52-week low on the NSE.
The rupee opened marginally higher by two paise at 67.02/$ against US Dollar Friday as against the previous close of 67.04/$.
Tata Motors rallied 2%. The auto company will announce its Q1 numbers today.
Shares of Welspun India were trading in a positive zone on Friday, erasing a 4-day losing streak on the stock exchange. On Thursday, the company issued a clarification sought by the BSE, in response to the accusations made by the US-based Target Corp. Welspun India Ltd is currently trading at Rs. 56.60, up by 4%.
DHFL gained 1.5%. DHFL is planning to raise Rs.10,000 crore from non-convertible debentures (NCDs) to fund business growth. The NCD issue of face value of Rs.1,000 each with a base issue size of Rs.2,000 crore and an option to retain oversubscription of up to Rs.8,000 crore aggregating up to Rs.10,000 crore opens on 29 August.
Indian Oil Corporation gained 0.76% to Rs.575. The company will invest around Rs.650 crore in expanding its storage and bottling capacity in Tripura over the next three years as it looks to prevent fuel crisis in the state.
Union Bank of India trading lower 0.75% to Rs.133.20. Union Bank of India is planning to raise Rs.750 crore by issuing Basel III-compliant bonds.
Tata Communications gained 1.5% to Rs.509.80. The telecom company is planning to set up necessary storage infrastructure in countries of operations to win over the local business by addressing its concerns on overseas data storage.
Allcargo Logistics inched up 0.60% on BSE. The company announced a consolidation of its contract logistics business into a new entity, Avvashya CCI Logistics Private Limited is a joint venture between three business entities: the warehousing division of CCI Logistics Ltd, Hindustan Cargo Ltd and the Contract Logistics Division of Allcargo Logistics.
Gammon Infra dropped 3.4% to Rs.5.15 on BSE. The company reported Rs.5.9 crore for the quarter ended June 30 compared with Rs.6 crore reported in the year-ago period.
J Kumar Infraprojects hit 5% upper circuit at Rs.162. The company said Mumbai Metro Rail Corporation Ltd (MMRC) has issued LOA (letter of award) to J Kumar-CRTG’s joint venture for Rs.5,012 crore projects.
Biocon soared 3.8% to Rs.899. The European Medicines Agency (EMA) has accepted for review Biocon and Mylan’s Marketing Authorization Application (MAA) for a proposed biosimilar Trastuzumab, used to treat certain breast and gastric cancers.
Spice Mobility climbed 4.7%. The telecom company informed BSE that Spice Digital Limited (SDL), a subsidiary of the Company, has divested its entire equity stake constituting 26% of share capital in Vavia Technologies Private Limited (Vavia) pursuant to a Share Purchase Agreement entered into by them. Consequent to this, Vavia has ceased to be an associate of the Company.
Nalco slipped 0.53% to Rs.46.90: Nalco’s Rs .2,835 crore offer to buyback 64.43 crore shares will open on August 30. The public sector undertaking today submitted the copy of public announcement and the letter of offer for the shareholders to the stock exchanges.
Prakash Constrowell jumped 8%. The company has received a work order worth Rs.108 crore for Government for construction of dwelling units and allied services at Mumbai which will be executed joint-venture. Additionally, it has received order worth Rs.50 crore for Agriculture Produce Market Committee for Construction of Civil & other allied Electrical and Construction work of flower Trading Center at Market Yard, Pune which will be executed by Company.
Asian markets opened lower on Friday. Nikkei 225 is trading in red, while Shanghai Composite and Hong Kong’s Hang Seng are trading higher.
Investors world over will hope to hear some clear thoughts from US Federal Reserve Chairman Janet Yellen at the Jackson Hole Symposium today. Yellen could use this opportunity to signal the direction of monetary policy as she speaks on “The Federal Reserve’s Monetary Policy Toolkit.” If the jobs data for August is strong, chances are a hike may happen.
Wall Street closed lower on Thursday. The Dow Jones industrial average fell 0.18%, to close at 18,448.41 points. The S&P 500 dropped 0.14% and the Nasdaq slipped 0.11%.
Oil prices were relatively flat during Asian trade on Friday. US crude traded at USD 47.34, similar to its last closing level, while global benchmark Brent was a touch lower, down 0.04 percent at USD 49.65 a barrel.
RBI has proposed a major overhaul in the way large companies borrow. In separate decisions, the central bank made it costlier for large companies to borrow more than a certain amount from banks even as it took steps to increase liquidity and participation in the corporate bond market.