10:43 a.m.: Technical analyst say that the Nifty has important support zone between 7,990-8,020 levels.
10:30 a.m.: Sensex slips 41 points to 26,482 and Nifty down 24 points at 8,020. Cairn India to loser on Nifty, down 4.45 per cent at Rs 172. Bosch, Cipla, Dr Reddy's Labs, Tech Mahindra and HCL Technologies also among the laggards.
10:26 a.m.: Motilal Oswal says that the fourth quarter earnings were extremely poor and earnings will have to pick up pace going ahead.
10:23 a.m.: Sun TV shares bounced back on Tuesday after crashing 28 per cent yesterday on fears that the broadcast major may have to take off its 33 channels off air. Sun TV shares gained as much as 5.3 per cent and were among the top traded stocks in the BSE 500 index.
9:55.a.m.: Markets turn flat; Sensex up 5 points at 26,528 and Nifty down 7 points at 8,036.
9:51 a.m.: Unitech shares slumped as much as 14 per cent on Tuesday after the National Consumer Disputes Redressal Commission asked the realty developer to compensate buyers for delay in delivering homes under its Vistas project in Sector 70 in Gurgaon.
9:46 a.m.: SV Prasad, Chime Consulting: Correction in markets was the need of the hour; its good time for long-term investors to build a good portfolio.
9:42 a.m.: Shares of Vedanta rose as much as 1.6 per cent to Rs 180 after reports said that the metal and mining company is considering a merger of its subsidiary Cairn India with itself.
Shares of Cairn India however fell nearly 5 per cent.
9:37 a.m.: The markets have rebounded from intraday low levels to trade in the positive territory. The Sensex was up 29 points at 26,552 and the Nifty advanced 3 points to 8.047.
Meanwhile, buying was visible in banking, capital goods, consumer durables and metal stocks.
9:35 a.m.: Sun TV rebounds nearly 5 per cent after crashing over 20 per cent yesterday.
9:30 a.m.: Broader markets trade with a negative bias. The BSE mid-cap index slips 0.04 per cent and the smal-cap index down 0.2 per cent.
9:30 a.m.: Tata Steel is among the top losers on the Nifty the stock fell 3.15 per cent to Rs 293.30 as workers in Britain will go on strike on June 22, according to a statement from the GMB union, marking the biggest industrial action in the British steel industry in over three decades.
Other unions involved in the action are Community, Unite and UCATT. The four unions are in a dispute with the company over proposed changes to their pension scheme.
9:25 a.m.: Market outlook: Gaurang Shah of Geojit BNP Paribas says any pullback in markets could be shallow and short-lived.
9:15 a.m.: The markets have opened lower in trades on Tuesday tracking weak global cues. Selling pressure was visible in healthcare, FMCG, realty and consumer durable stocks.
From the Nifty-50 basket of stocks, 25 were declining while the equal number of stocks were gaining. Cairn India, Bosch, Tata Steel, Cipla, ITC and Sun Pharma were among the top losers.
9:00 a.m.: Rupee opens higher at 63.97/dollar against Monday's close of 64.08
8:00 a.m.: Nifty is likely to open in the negative territory tracking weak global cues.
The Nifty which is traded on the Singapore Stock Exchange also known as the SGX Nifty was also trading 0.2 per cent or 18 points lower at 8,026.
On Monday, the foreign institutional investors (FIIs) sold shares worth Rs 749 crore while the domestic institutional investors purchased shares worth Rs 529 crore in the cash segment.
Meanwhile, the Asian stock markets were trading on a weak note. Hang Seng was down 0.8 per cent, Shanghai Composite fell 0.3 per cent and Japan's Nikkei declined 0.77 points or 157 points.
Overnight, U.S. stocks fell on Monday, with the Nasdaq declining nearly 1 per cent, as investors mulled the prospect of the Federal Reserve raising interest rates as early as September.
The declines followed three straight weeks of losses, with the Dow and S&P touching their lowest in a month.
The Dow Jones industrial average fell 58.29 points, or 0.33 per cent, to 17,791.17, the S&P 500 lost 13.55 points, or 0.65 per cent, to 2,082.3 and the Nasdaq Composite dropped 47.41 points, or 0.94 per cent, to 5,021.05.
Back home these shares will be in focus today:
Tata Steel: Tata Steel will be in focus today as workers in Britain will go on strike on June 22, according to a statement from the GMB union, marking the biggest industrial action in the British steel industry in over three decades.
Other unions involved in the action are Community, Unite and UCATT. The four unions are in a dispute with the company over proposed changes to their pension scheme.
Vedanta, Cairn India: Vedanta and Cairn India will be in focus today as reports suggest that Vedanta may merge its subsidiary Cairn India with itself. The move will give parent access to Cairn India's cash and it will also help in reducing debt for Vedanta.
Unitech: Unitech has lost a legal case against against buyers of Gurgaon project at National Consumer Disputes Redressal Commission.
Jet Airways: Jet Airways has cut prices of its business class ticket by 25 per cent and fares of domestic network have been reduced for three days.
No comments:
Post a Comment