 "Sensex falls 100 points ahead of election results; financials drag")
Benchmark indices continue to trade lower amid weak global cues, along with selling among financials leading the decline.
Fall in the crude oil prices and weakness in the Asian peers after FOMC meeting minutes raised hopes of an interest rate hike in the near future has also dampened the sentiments.
Participants are closely monitoring the results of the Assembly elections in West Bengal, Tamil Nadu, Assam, Kerala and Puducherry scheduled today.
By 10:20 am, the S&P BSE Sensex slipped 117 points to trade at 25,587 and the Nifty50 slipped 34 points at 7,836. Broader markets are outperforming- BSE Midcap and Smallcap indices are up 0.1%-0.3%.
Top gainers from the Sensex pack are NTPC, ITC, HDFC, Bharti Airtel, Asian Paints and ONGC, all surging between 1%-2%.
Dairy firm - Parag Milk Foods - has rallied to Rs 245, a 14% gain against its issue price after debuting at the bourses on Thursday.
After witnessing around a 10% surge, Kalanithi Maran-owned Sun TV stock prices dropped by 8.08% to Rs 393.
Torrent Power has tanked 12% to Rs 199 on the BSE in early morning trade after the company reported a consolidated net profit of Rs 28 crore for the quarter ended March 2016 (Q4FY16) as compared to Rs 182 crore in the same quarter of the previous year.
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Updated at 9:30 am
Markets have commenced the session on lower note mirroring decline in the crude oil prices and weakness in the Asian peers after FOMC meeting minutes raised hopes of an interest rate hike in the near future.
Participants are closely monitoring the results of the Assembly elections in West Bengal, Tamil Nadu, Assam, Kerala and Puducherry scheduled today.
On Wednesday, benchmark indices ended marginally lower amid weak global cues, with auto shares leading the decline on failing an international safety test.
By 9:27 am, the S&P BSE Sensex slipped 88 points to trade at 25,616 and the Nifty50 slipped 29 points at 7,841. Broader markets are outperforming- BSE Midcap and Smallcap indices are up 0.1%-0.2%.
"Nifty requires a hold above 7,900 zones on closing basis to witness an up move towards 7,950-7,979 zones while holding below 7,850 may drag it towards next crucial support of 7,780-7,777 zones. Sensex to cross and hold above 25,750-25,800 zones to witness an up move towards 26,000 and higher zones while holding below 25,500 may cause a profit booking decline towards 25,250-25,000 zones," adds Anand Rathi in its morning note.
Asian stocks fell and the US dollar stood tall on Thursday as markets scrambled to factor in the possibility of another interest rate increase by the Federal Reserve as early as June.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8% in early trade as the prospect of a second US rate hike in six months raised concerns for emerging markets already grappling with a slowing China.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 251 crore yesterday.
Lupin, HDFC Bank, Gujarat Pipavav Port, IRB Infrastructure Developers, Sintex Industries, Sobha and SpiceJet are among the top names that will disclose their fourth quarter earnings today.
Among key stocks, ONGC, Asian Paints, HDFC, BHEL, Axis Bank and SBI have plunged between 0.5%-1.1%.
ONGC has slipped today on back of fall in crude oil prices. Oil & Natural Gas Corp (ONGC), the top explorer, rose the most in three months.
Axis Bank announced that its board of directors at a meeting held yesterday passed a resolution approving the allotment of two senior notes aggregating to $10 million each, under the MTN programme through its Dubai International Financial Centre (DIFC) branch. The announcement was made after market hours yesterday. The stock is down 1%.
Lupin is the top Sensex gainer, up over 1% ahead of Q4 earnings.
Shares of Parag Milk Foods will debut on the stock exchanges today. The initial public offer (IPO) price for the issue was fixed at Rs 215 per share.
Fall in the crude oil prices and weakness in the Asian peers after FOMC meeting minutes raised hopes of an interest rate hike in the near future has also dampened the sentiments.
Participants are closely monitoring the results of the Assembly elections in West Bengal, Tamil Nadu, Assam, Kerala and Puducherry scheduled today.
By 10:20 am, the S&P BSE Sensex slipped 117 points to trade at 25,587 and the Nifty50 slipped 34 points at 7,836. Broader markets are outperforming- BSE Midcap and Smallcap indices are up 0.1%-0.3%.
Top gainers from the Sensex pack are NTPC, ITC, HDFC, Bharti Airtel, Asian Paints and ONGC, all surging between 1%-2%.
Dairy firm - Parag Milk Foods - has rallied to Rs 245, a 14% gain against its issue price after debuting at the bourses on Thursday.
After witnessing around a 10% surge, Kalanithi Maran-owned Sun TV stock prices dropped by 8.08% to Rs 393.
Torrent Power has tanked 12% to Rs 199 on the BSE in early morning trade after the company reported a consolidated net profit of Rs 28 crore for the quarter ended March 2016 (Q4FY16) as compared to Rs 182 crore in the same quarter of the previous year.
***************************
Updated at 9:30 am
Markets have commenced the session on lower note mirroring decline in the crude oil prices and weakness in the Asian peers after FOMC meeting minutes raised hopes of an interest rate hike in the near future.
Participants are closely monitoring the results of the Assembly elections in West Bengal, Tamil Nadu, Assam, Kerala and Puducherry scheduled today.
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On Wednesday, benchmark indices ended marginally lower amid weak global cues, with auto shares leading the decline on failing an international safety test.
By 9:27 am, the S&P BSE Sensex slipped 88 points to trade at 25,616 and the Nifty50 slipped 29 points at 7,841. Broader markets are outperforming- BSE Midcap and Smallcap indices are up 0.1%-0.2%.
"Nifty requires a hold above 7,900 zones on closing basis to witness an up move towards 7,950-7,979 zones while holding below 7,850 may drag it towards next crucial support of 7,780-7,777 zones. Sensex to cross and hold above 25,750-25,800 zones to witness an up move towards 26,000 and higher zones while holding below 25,500 may cause a profit booking decline towards 25,250-25,000 zones," adds Anand Rathi in its morning note.
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Asian stocks fell and the US dollar stood tall on Thursday as markets scrambled to factor in the possibility of another interest rate increase by the Federal Reserve as early as June.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8% in early trade as the prospect of a second US rate hike in six months raised concerns for emerging markets already grappling with a slowing China.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 251 crore yesterday.
Lupin, HDFC Bank, Gujarat Pipavav Port, IRB Infrastructure Developers, Sintex Industries, Sobha and SpiceJet are among the top names that will disclose their fourth quarter earnings today.
Among key stocks, ONGC, Asian Paints, HDFC, BHEL, Axis Bank and SBI have plunged between 0.5%-1.1%.
ONGC has slipped today on back of fall in crude oil prices. Oil & Natural Gas Corp (ONGC), the top explorer, rose the most in three months.
Axis Bank announced that its board of directors at a meeting held yesterday passed a resolution approving the allotment of two senior notes aggregating to $10 million each, under the MTN programme through its Dubai International Financial Centre (DIFC) branch. The announcement was made after market hours yesterday. The stock is down 1%.
Lupin is the top Sensex gainer, up over 1% ahead of Q4 earnings.
Shares of Parag Milk Foods will debut on the stock exchanges today. The initial public offer (IPO) price for the issue was fixed at Rs 215 per share.