Market Live: Sensex, Nifty trade flat, bank, aviation stocks fall

BSE Sensex and NSE Nifty trade lower on Tuesday. Photo: Reuters

Mumbai: The BSE Sensex opened lower on Tuesday against the previous session’s closing. The broader NSE’s Nifty also fell in the morning hours. The rupee weakened for fourth consecutive sessions to hit fresh six-month low against the US dollar. The shares of ONGC, Tata Motors and Adani Ports rose, whereas the shares of Hindustan Unilever and Asian Paints fell.

Foreign investors are selling continuously in the domestic markets on worries of overshooting fiscal deficit, US-North Korea standoff and the decision by the US Federal Reserve to shrink its balance sheet starting next month. Since August, foreign institutional investors (FIIs) sold nearly $2.50 billion in local equity markets.

9.50am: BSE Sensex traded little changed at 31,618.74, down 7.89 points, or 0.02%, while the Nifty 50 fell 13.80 points, or 0.14%, to 9,855.80.

9.48am: Hindustan Unilever Ltd fell 2% to Rs 1222.55. The company said in a presentation to the exchanges that subdued consumer markets, demonetization and introduction of goods and services tax were key challenges in the last few quarters. Volatile commodity costs also created a challenging environment. Trade situation improving gradually, wholesale channel now stabilizing.

9.45am: Banking stocks fell. Central Bank of India fell 1.7%, Karnataka Bank 1.2%, State Bank of India 0.9%, RBL Bank 0.8%, Punjab National Bank 0.8%, Bank of Baroda 0.8%, South Indian Bank 0.7%, Federal Bank 0.7%, Bank of India 0.6%

9.26am: BSE Sensex opens lower by 43.85 points, or 0.14%, to 31,582.87, while the Nifty 50 fell 17.75 points, or 0.18%, to 9,854.85.

■ 9.25am: Aviation stocks fell after Brent crude hit highest level since July 2015. Jet Airways India Ltd declined 3%, SpiceJet Ltd fell 3.1% while InterGlobe Aviation Ltd 0.5%.

■ 9.20am: IFCI Ltd rose 3.5% to Rs 23.60 after the company said it approved sale of 0.86% stake in NSE to investors.

■ 9.17am: DS Kulkarni Developers Ltd fell 5% to Rs 24.40 after the company said its board will meet on 3 October to consider financial restructuring.

■ 9.15am: The rupee opened at 65.22 a dollar and touched a low of 65.27 – a level last seen on 24 March. At 9.15am, the rupee was trading at 65.19 a dollar, down 0.16% from its Monday’s close of 65.12.

■ 9.13am: The 10-year bond yield was at 6.632%, compared to its previous close of 6.619%. Bond yields and prices move in opposite directions.

■ 9.10am: Asian currencies were trading lower. South Korean won was down 0.36%, Indonesian rupiah 0.2%, Philippines peso 0.17%, Malaysian ringgit 0.15%, Thai baht 0.15%, Taiwan dollar 0.08%. However, Japanese yen was up 0.1%, Singapore dollar 0.05%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 92.574, down 0.08% from its previous close of 92.648.


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