BSE Sensex opened lower on Thursday. Photo: AFP
Mumbai: Stock markets turned weak today as the benchmark Sensex fell on Thursday as investors adopted a cautious approach in view of August derivatives expiry and release of key macroeconomic data later in the day. Besides, mixed Asian cues weighed on the sentiment. The 30-share index had gained 258.07 points in the previous session. BSE indices led by FMCG, power, teck, banking and metal declined. The NSE Nifty fell by 14.25 points, or 0.14%, at 9,870.15.
Squaring-up of positions by participants—on Thursday being the last trading session of August series contracts in the derivatives segment—and caution ahead of the GDP data for the June quarter, to be released later in the day, influenced sentiment here. Major losers were NTPC, Sun Pharma, Infosys, Dr Reddy’s, Bharti Airtel, HDFC Ltd, Coal India, HDFC Bank, Kotak Bank, ICICI Bank, Hind Unilever, Tata Steel, ITC Ltd, M&M and TCS, falling by up to 1.49%. Among other Asian markets, Hong Kong’s Hang Seng shed 0.60% while Shanghai Composite Index was down 0.51% in early trade. Japan’s Nikkei, however, was up 0.70%. The US Dow Jones Industrial Average ended 0.12% higher on Wednesday.
10.00am: Schaeffler India Ltd rose 13% to Rs4,818.45 after the company announced merger of its two arms—INA Bearings and LuK India—to improve cost and supply-side efficiencies. The combined entity hopes to grow 10% post-amalgamation.
9.50am: Reliance Defence and Engineering Ltd rose 8% to Rs58.15. The stock gained for sixth consecutive sessions and added 11.2% in this period.
9.45am: Aviation stocks gains. InterGlobe Aviation Ltd rose 2%, Jet Airways India Ltd rose 1% and SpiceJet Ltd gained 1%.
9.40am: Ujjivan Fianancial Services Ltd rose 3.3% to Rs 369.81. CDC Group Plc, the development finance institution owned by the UK government, on Wednesday sold a part of its stake in Ujjivan Financial Services Ltd for around Rs212 crore, data from stock exchanges shows.
■ 9.36am: BSE Sensex traded lower by 53 points, or 0.17%, to 31,593, while the Nifty 50 fell 16 points, or 0.16%, to 9,868.
■ 9.33am: DCB Bank Ltd fell 5.7% to Rs178.75 as Business Line reported that the bank is under Reserve Bank of India lens as US fines Pakistan based Habib Bank. Aga Khan Foundation for Economic Development (AKFED), owns 51% stake in Habib Bank, that in turn holds 14.22% in DCB Bank. Aga Khan, the promoter of AKFED, is based in France and has a network of financial enterprises globally.
■ 9.30am: Biocon Ltd fell 1.1% to Rs340.45 after the company said the US Food and Drug Administration (USFDA) will take 3 months more to review the application for a biosimilar version of Roche Holding AG’s breast cancer drug Herceptin filed by partner Mylan NV.
■ 9.25am: NTPC Ltd fell 2.1% to Rs164.40. The government has received bids for 7% stake in India’s largest power producer NTPC Ltd., which will fetch about Rs9,100 crore to the exchequer.
■ 9.15am: The rupee opened at 64 a dollar. At 9.15am, the rupee was trading at 64.05 a dollar, down 0.08% from its Wednesday’s close of 63.99.
■ 9.10am: Majestic Auto Ltd surged 20% to Rs122.40 after the company said its board would meet on Thursday to consider sale of assets not exceeding to Rs300 crore.
■ 9.05am: The 10-year bond yield was at 6.543% compared to its previous close of 6.537%. Bond yields and prices move in opposite directions.
■ 9.00am: Asian currencies were trading lower. Japanese yen was down 0.24%, South Korean won 0.11%, Malaysian ringgit 0.1%, Taiwan dollar 0.06% and China renminbi 0.05%.
With inputs from PTI