 "Sensex slumps 400 points; Shanghai Composite cracks 7%")
Benchmark shares indices have extended losses and are trading near day’s low after China's PMI data, a closely-watched barometer of manufacturing activity, slipped to to 48.2 in December, from 48.6 in November, shrinking for the tenth straight month.
Further, India's December Nikkei Manufacturing PMI has come in at 49.1 vs 50.3 in November, lowest since August 2013.
By 11:20 am, the S&P BSE Sensex was lower by 402 points at 25,759 and Nifty50 slipped 124 points at 7,839.
The top losers from the Sensex pack are Bharti Airtel, ICICI Bank, Tata Motors, Lupin and Adani Ports, all falling between 1%-3%.
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Updated at 9:30 am
Markets have commenced the first trading session of the week on a lower note, tracking weak global cues, with auto shares in focus post their December 2015 sales numbers.
By 9:30 am, the S&P BSE Sensex was lower by 144 points at 26,017 and Nifty50 slipped 47 points at 7,916. The broader markets continue to outperform- BSE Midcap and Smallcap indices are up marginally.
“Nifty resistance is seen at 7,974 above 7,996 and 8,010. Support for the Nifty is seen at 7,936 below 7,914, 7,901 and 7,876," says Geojit BNP Paribas Financial Services said ina note.
Markit Economics is scheduled to release Nikkei India Purchasing Managers' Index (PMI) for December 2015 later today.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 228.11 crore on Friday as per provisional data released by the stock exchanges.
In the overseas markets, Asian shares began their first trading of 2016 on a cautious note today, while oil prices jumped 3% after Saudi Arabia's execution of a prominent Shi'ite Muslim cleric spurred regional anger and geopolitical tensions.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%, with resource-heavy Australian shares rising 0.6%. The MSCI ex-Japan shed nearly 12% in 2015.
Japan's Nikkei fell 1%, playing catch-up to falls in US stocks in the last two sessions during Japan's market holidays. The Nikkei gained around 9% last year.
Back home, Tata Motors is down over 1%. The company’s total sales of passenger and commercial vehicles declined 4% to 39,973 units in December 2015 over December 2014.
The Telecom Regulatory Authority of India (Trai) has written to operators to ensure compliance with call drop regulations, effective January 1, even as service providers remain defiant and say compensation to subscribers will be paid only after court orders them to do so. Shares of Bharti Airtel have dipped 1.4%.
Hero MotoCorp has slipped by 1% after the total two-wheeler sales of the company declined 5.13% to 4.99 lakh units in December 2015 over December 2014.
Coal India and its subsidiaries on provisional basis achieved 102% of targeted production at 52.07 million tonnes in December 2015. The stock is down almost 1%.
State Bank of India is all set to buy four premium flats in Mumbai's posh Peddar Road area from the loss-making Air India (AI) for Rs 90 crore. Shares of SBI are down almost 1%.
Other prominent losers are ICICI Bank, Adani Ports, Axis Bank, Lupin and ONGC. On the gaining side, GAIL, NTPC, Wipro, HUL and Asian Paints are up 0.02%-1%.
Shares of IRB Infrastructure Developers were up over 8% at Rs 265 in early trades on the Bombay Stock Exchange after the company won the biggest National Highway Project in India in terms of project cost estimated at Rs 10,050 crore.
With Reuters input
Further, India's December Nikkei Manufacturing PMI has come in at 49.1 vs 50.3 in November, lowest since August 2013.
By 11:20 am, the S&P BSE Sensex was lower by 402 points at 25,759 and Nifty50 slipped 124 points at 7,839.
The top losers from the Sensex pack are Bharti Airtel, ICICI Bank, Tata Motors, Lupin and Adani Ports, all falling between 1%-3%.
**************************************
Updated at 9:30 am
Markets have commenced the first trading session of the week on a lower note, tracking weak global cues, with auto shares in focus post their December 2015 sales numbers.
By 9:30 am, the S&P BSE Sensex was lower by 144 points at 26,017 and Nifty50 slipped 47 points at 7,916. The broader markets continue to outperform- BSE Midcap and Smallcap indices are up marginally.
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“Nifty resistance is seen at 7,974 above 7,996 and 8,010. Support for the Nifty is seen at 7,936 below 7,914, 7,901 and 7,876," says Geojit BNP Paribas Financial Services said ina note.
Markit Economics is scheduled to release Nikkei India Purchasing Managers' Index (PMI) for December 2015 later today.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 228.11 crore on Friday as per provisional data released by the stock exchanges.
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In the overseas markets, Asian shares began their first trading of 2016 on a cautious note today, while oil prices jumped 3% after Saudi Arabia's execution of a prominent Shi'ite Muslim cleric spurred regional anger and geopolitical tensions.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%, with resource-heavy Australian shares rising 0.6%. The MSCI ex-Japan shed nearly 12% in 2015.
Japan's Nikkei fell 1%, playing catch-up to falls in US stocks in the last two sessions during Japan's market holidays. The Nikkei gained around 9% last year.
Back home, Tata Motors is down over 1%. The company’s total sales of passenger and commercial vehicles declined 4% to 39,973 units in December 2015 over December 2014.
The Telecom Regulatory Authority of India (Trai) has written to operators to ensure compliance with call drop regulations, effective January 1, even as service providers remain defiant and say compensation to subscribers will be paid only after court orders them to do so. Shares of Bharti Airtel have dipped 1.4%.
Hero MotoCorp has slipped by 1% after the total two-wheeler sales of the company declined 5.13% to 4.99 lakh units in December 2015 over December 2014.
Coal India and its subsidiaries on provisional basis achieved 102% of targeted production at 52.07 million tonnes in December 2015. The stock is down almost 1%.
State Bank of India is all set to buy four premium flats in Mumbai's posh Peddar Road area from the loss-making Air India (AI) for Rs 90 crore. Shares of SBI are down almost 1%.
Other prominent losers are ICICI Bank, Adani Ports, Axis Bank, Lupin and ONGC. On the gaining side, GAIL, NTPC, Wipro, HUL and Asian Paints are up 0.02%-1%.
Shares of IRB Infrastructure Developers were up over 8% at Rs 265 in early trades on the Bombay Stock Exchange after the company won the biggest National Highway Project in India in terms of project cost estimated at Rs 10,050 crore.
With Reuters input