 "Markets turn choppy; Asian Paints dips 3%")
Key benchmark indices failed to sustain gains as investors booked profits at higher levels on caution ahead of the expiry of October derivative contracts today.
At 2:20pm, the S&P BSE Sensex was down 28 points at 27,808 and the Nifty50 was down 28 points at 8,587.
Tata Motors eased over 2% while Asian Paints dropped over 3% post its second quarter earnings.
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Key benchmark share indices reversed early losses in noon trades led by short covering in index heavyweights ITC and HDFC post their second quarter earnings.
At 1:30pm, the S&P BSE Sensex was up 19 points at 27,856 and the Nifty50 was down 12 points at 8,603.
Index heavyweights ITC and HDFC were up 2% each followed by Dr Reddy's Labs, Maruti Suzuki and Sun Pharma among others.
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(Updated at 11:20am)
Key benchmark indices languished in negative terrain in mid-morning trade. At 11:20 AM, the barometer index, the S&P BSE Sensex was down 104.55 points or 0.38% at 27,731.96. The losses for the Nifty 50 index were higher in percentage terms than those for the Sensex. The Nifty 50 index was currently down 45 points or 0.52% at 8,570.25. Weakness in Asian stocks affected sentiment adversely.
In overseas stock markets, most Asian stocks dropped as investors reacted to a slew of earnings at companies from Samsung Electronics to Nintendo. Data showed that profit growth in China's industrial firms slowed in September from the previous month's rapid pace as several sectors showed weak activity, suggesting the world's second-biggest economy remains underpowered despite emerging signs of stability.
Profits in September rose 7.7% to 577.1 billion yuan, slowing sharply from August's 19.5% jump, according to data released by the National Bureau of Statistics (NBS). US stocks edged lower yesterday, 26 October 2016 as health care companies fell and Apple pulled technology companies down.
Closer home, the market breadth indicating the overall health of the market was negative. On BSE, 1,370 shares fell and 923 shares rose. A total of 171 shares were unchanged. The BSE Mid-Cap index was currently down 0.84%. The BSE Small-Cap index was currently down 0.48%. The decline in both these indices was lower than the Sensex's decline in percentage terms.
Cement stocks dropped. ACC (down 1.18%), Shree Cement (down 1.1%), and Ambuja Cements (down 0.97%) declined. UltraTech Cement rose 0.04%. Grasim Industries declined 1.14%. Grasim has exposure to the cement sector through its holding in UltraTech Cement.
IT stocks declined. TCS (down 0.98%), Infosys (down 0.48%), Oracle Financial Services Software (down 0.93%), and Wipro (down 1.48%) edged lower. HCL Technologies declined 1.6 % as the stock turned ex-dividend today, 27 October 2016, for interim dividend of Rs 6 per share for the year ending 31 March 2017 (FY 2017). Tech Mahindra fell 0.91% ahead of its Q2 results today, 27 October 2016.
Smartlink Network Systems jumped 9.08% after net profit surged 187.39% to Rs 3.19 crore on 2.67% decline in net sales to Rs 8.39 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 26 October 2016.
Sun Pharmaceutical Industries rose 1.31% after the company announced the execution of definitive agreements by its wholly owned subsidiary for the acquisition of 100% of Ocular Technologies, Sarl (OTS), a portfolio company of Auven Therapeutics (Auven), an international private equity company focused on accelerated development of breakthrough therapeutic drugs.
Cummins India fell 3.14% after net profit declined 0.53% to Rs 196.90 crore on 5.64% growth in total income to Rs 1429.13 crore in Q2 September 2016 over Q2 September 2015.
Lakshmi Machine Works shed 4.89% after net profit declined 31.72% to Rs 37.92 crore on 14.36% decline in net sales to Rs 567.07 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 26 October 2016.
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At 2:20pm, the S&P BSE Sensex was down 28 points at 27,808 and the Nifty50 was down 28 points at 8,587.
Tata Motors eased over 2% while Asian Paints dropped over 3% post its second quarter earnings.
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More From This Section
(Updated at 1:30Pm
Key benchmark share indices reversed early losses in noon trades led by short covering in index heavyweights ITC and HDFC post their second quarter earnings.
At 1:30pm, the S&P BSE Sensex was up 19 points at 27,856 and the Nifty50 was down 12 points at 8,603.
Index heavyweights ITC and HDFC were up 2% each followed by Dr Reddy's Labs, Maruti Suzuki and Sun Pharma among others.
______________________
(Updated at 11:20am)
Key benchmark indices languished in negative terrain in mid-morning trade. At 11:20 AM, the barometer index, the S&P BSE Sensex was down 104.55 points or 0.38% at 27,731.96. The losses for the Nifty 50 index were higher in percentage terms than those for the Sensex. The Nifty 50 index was currently down 45 points or 0.52% at 8,570.25. Weakness in Asian stocks affected sentiment adversely.
In overseas stock markets, most Asian stocks dropped as investors reacted to a slew of earnings at companies from Samsung Electronics to Nintendo. Data showed that profit growth in China's industrial firms slowed in September from the previous month's rapid pace as several sectors showed weak activity, suggesting the world's second-biggest economy remains underpowered despite emerging signs of stability.
Profits in September rose 7.7% to 577.1 billion yuan, slowing sharply from August's 19.5% jump, according to data released by the National Bureau of Statistics (NBS). US stocks edged lower yesterday, 26 October 2016 as health care companies fell and Apple pulled technology companies down.
Closer home, the market breadth indicating the overall health of the market was negative. On BSE, 1,370 shares fell and 923 shares rose. A total of 171 shares were unchanged. The BSE Mid-Cap index was currently down 0.84%. The BSE Small-Cap index was currently down 0.48%. The decline in both these indices was lower than the Sensex's decline in percentage terms.
Cement stocks dropped. ACC (down 1.18%), Shree Cement (down 1.1%), and Ambuja Cements (down 0.97%) declined. UltraTech Cement rose 0.04%. Grasim Industries declined 1.14%. Grasim has exposure to the cement sector through its holding in UltraTech Cement.
IT stocks declined. TCS (down 0.98%), Infosys (down 0.48%), Oracle Financial Services Software (down 0.93%), and Wipro (down 1.48%) edged lower. HCL Technologies declined 1.6 % as the stock turned ex-dividend today, 27 October 2016, for interim dividend of Rs 6 per share for the year ending 31 March 2017 (FY 2017). Tech Mahindra fell 0.91% ahead of its Q2 results today, 27 October 2016.
Smartlink Network Systems jumped 9.08% after net profit surged 187.39% to Rs 3.19 crore on 2.67% decline in net sales to Rs 8.39 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 26 October 2016.
Sun Pharmaceutical Industries rose 1.31% after the company announced the execution of definitive agreements by its wholly owned subsidiary for the acquisition of 100% of Ocular Technologies, Sarl (OTS), a portfolio company of Auven Therapeutics (Auven), an international private equity company focused on accelerated development of breakthrough therapeutic drugs.
Cummins India fell 3.14% after net profit declined 0.53% to Rs 196.90 crore on 5.64% growth in total income to Rs 1429.13 crore in Q2 September 2016 over Q2 September 2015.
Lakshmi Machine Works shed 4.89% after net profit declined 31.72% to Rs 37.92 crore on 14.36% decline in net sales to Rs 567.07 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 26 October 2016.
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