After moving into positive zone from negative zone in afternoon trade, key benchmark indices once again slipped into the red in mid-afternoon trade. At 14:17 IST, the barometer index, the S&P BSE Sensex, was down 40.64 points or 0.16% at 24,732.33. The 50-unit Nifty 50 index was currently down 14.20 points or 0.19% at 7,522.60. The broad market depicted weakness. There were more than two losers against every gainer on BSE. 1,757 shares fell and 760 shares rose. A total of 174 shares were unchanged. The BSE Mid-Cap index was currently down 0.51%. The BSE Small-Cap index was currently down 0.86%. The decline in both these indices was higher than the Sensex's decline in percentage terms.
The Sensex fell 116.21 points or 0.46% at the day's low of 24,656.76 in early afternoon trade. The barometer index rose 139.67 points, or 0.56% at the day's high of 24,912.64 in early trade. The Nifty fell 34 points or 0.45% at the day's low of 7,502.80 in mid-morning trade. The index rose 29.70 points or 0.39% at the day's high of 7,566.50 in early trade.
In overseas stock markets, European stocks edged lower as investor concerns about global growth intensified and oil retreated. Chinese stocks led decline in Asian equities amid worries about slowing growth in China's economy. In mainland China, the Shanghai Composite index ended 3.55% lower. In Hong Kong, the Hang Seng index lost 1.33%. The latest data showed new yuan loans in December were well below the previous month's lending and broad M2 money supply growth also slowed.
US stock index futures pointed at losses for US stocks later in the global day. Trading in US index futures indicated that the Dow Jones Industrial Average could fall 171 points at the opening bell today, 15 January 2016. US stocks surged yesterday, 14 January 2016, as a rebound in oil prices allowed the main indexes to claw back much of the steep fall seen in the previous session.
Zee Entertainment Enterprises was down 3.04% to Rs 403.15 after consolidated net profit fell 10.89% to Rs 275 crore on 12.48% increase in total income to Rs 1624.06 crore in Q3 December 2015 over Q3 December 2014. A sharp fall in non-operational income led to decline in the bottom line. Non-operational income fell 63.8% to Rs 29 crore in Q3 December 2015 over Q3 December 2014. The result was announced during trading hours today, 15 January 2016.
Earnings before interest, taxes, depreciation and amortization jumped 21.8% to Rs 430.20 crore in Q3 December 2015 over Q3 December 2014. EBITDA margin firmed up to 26.97% in Q3 December 2015 from 25.9% in Q3 December 2014.
Maruti Suzuki India was up 1.26% at Rs 4,303. The company announced during trading hours today, 15 January 2016, that it will leverage Auto Expo 2016 as an opportunity to communicate its direction for the Indian market. Besides new models and concepts, the company will showcase a new-generation vehicle platform and a new engine. The company said it will unveil its sport utility vehicle Vitara Brezza on 3 February 2016 and its concept car Ignis on 4 February 2016 at the Delhi Auto Expo 2016.
Wockhardt slumped 9.12% after media reports suggested that the company has received Form 483 from the US drug regulator for its Shendra plant in Aurangabad, Maharashtra. The inspection by United States Food & Drug Administration (USFDA) at Wockhardt's Shendra plant ended on 14 January 2016. Form FDA 483, "Inspectional Observations," is a form used by the FDA to document and communicate concerns discovered during inspections. In another instance, 62,555 bottles of Azithromycin tablets manufactured by Wockhardt are reportedly being recalled by PD-Rx Pharmaceuticals Inc in the US market.
Motherson Sumi Systems shed 4.6% after reports suggested that multiple sites of French car maker Renault, which is a client of the company were raided by the French anti-fraud units. The report said that raids on sites of French car maker Renault were prompted by Volkswagen emission scandal, which surfaced last year. According to reports, Renault Nissan accounted for 5% of the sales of Motherson Sumi Systems.
Meanwhile, Renault Group had issued a statement yesterday, 14 January 2016 saying the raids were linked to random tests of 100 cars to see if they are equipped with emission-cheating software. Renault said that the French Agency for Energy and Climate (DGEC) already considers that the on-going procedure would not reveal the presence of a defeat device on Renault's vehicles.
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