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Sensex Ends On Flat Note, Nifty Settles At 9,317

Bharti Infratel, ABB, Aurobindo Pharma and Union Bank will be some of the shares in focus today.
Bharti Infratel, ABB, Aurobindo Pharma and Union Bank will be some of the shares in focus today.

Sensex ended on a flat note in trades today as banking shares fell on account of profit-taking. Meanwhile, gains in bluechip shares like Larsen & Toubro, Reliance Industries and Axis Bank were offset by losses in Hero MotoCorp, ICICI Bank, ITC and State Bank of India. The Sensex ended 7 points higher at 29,933 and Nifty ended 3 points higher at 9,317.

From the Nifty basket, 27 ended higher while 24 ended lower. Indian Oil was the top Sensex gainer, up 2.85 per cent at Rs 441. Adani Ports, Larsen & Toubro, Axis Bank, Wipro and Tech Mahindra were also among the gainers. At the same time, Hero MotoCorp, Indiabulls Housing Finance, Aurobindo Pharma, SBI, ICICI Bank, Bharti Airtel and Ambuja Cements were also among the losers.

On the sectoral front, banking, PSU banking and pharma shares witnessed selling while energy, infra, IT and select FMCG shares witnessed some buying interest.

3:12 pm: Stock markets trade on an absolutely flat note. Sensex up 20 points at 29,941 and Nifty jumps 3 points to 9,318.

3:00 pm: Shares of Interglobe Aviation up 1.5 per cent at Rs 1,137 ahead of March quarter earnings. Analysts expect Interglobe Aviation to report net profit of Rs 270 crore on sales of Rs 4,860 crore.

2:54 pm: Bharti Airtel trades 1.4 per cent lower at Rs 346 ahead of March quarter earnings which will be declared later in the day.

2:39 pm: Larsen & Toubro was top gainer in the Sensex, up 2 per cent at Rs 1,744. Adani Ports, Mahindra & Mahindra, Wipro, Axis Bank, Tata Motors, Reliance Industries and GAIL India were also among the gainers.

2:24 pm: Pharma shares were witnessing selling pressure. The BSE Healthcare index was down 0.34 per cent; Lupin, Suven Lifesciences, Sun Pharma, Aurobindo Pharma, Piramal Enterprises, Dr Reddy's Labs and Biocon were among the losers.

2:19 pm: The overall market breadth was marginally positive as 1,453 shares were advancing while 1,273 were declining on the Bombay Stock Exchange.

1:41 pm: Capital goods shares were witnessing good buying interest in noon deals. The BSE capital goods index was up 2 per cent led by gains in ABB, CG Power and Industrial Solutions, Siemens, Reliance Defence, Larsen & Toubro, V Guard and Kalpatru Power.

1:29 pm: Capital Trade Links was the top loser from the small-cap space, down 13 per cent at Rs 23. Trident, Shilpi Cable Technologies, SRS LTD, Aegis Logistics, High Ground Enterprise and Nutraplus India were also among the losers from the small-cap space.

1:07 pm: Atul Ltd, Titan Company, Tech Mahindra, ABB India, Varun Beverages and Mphasis and Jyothy Labs were witnessing spurt in volumes in trades today.

12:50 pm: Housing and Urban Development Corp Ltd's (HUDCO) initial public offering of shares to raise up to Rs 1,220 crore was fully subscribed on the second day of the sale on Tuesday, stock exchange data showed.

12:31 pm: Banking shares slip on profit-taking. The BSE Bankex declines 0.27 per cent; Punjab National Bank, Bank of Baroda, Federal Bank, ICICI Bank, Yes Bank and State Bank of India were among the losers.

12:20 pm: The market breadth was positive as 1,441 shares were advancing while 1,122 were declining on the BSE.

11:43 am: Like stocks such as Tata Elxsi and Hexaware Technologies in the IT space and front line IT stocks not expected to do well going ahead, says Mithil Pradhan.

11:41 am: No bearish scenario visible in markets and I am not planning to go short in banking stocks, says Mithil Pradhan, founder and trading coach at Cloveredge.com.

11:32 am: Metal shares were witnessing buying interest in subdued session. The BSE Metals index was up 1.46 per cent; Vedanta, Jindal Steel, Hindustan Zinc, Hindalco, Tata Steel, NMDC, JSW Steel and SAIL were also among the gainers, up 1-2.8 per cent each.

10:44 am: Indian Oil was the top gainer in the Nifty, up 1.5 per cent at Rs 435. Hindalco, Bharti Infratel, Tata Steel, Tech Mahindra, Tata Motors and HCL Technologies were also among the gainers.

10:32 am: JP Morgan has downgraded Godrej Properties to neutral for target price of Rs 520 per share.

10:16 am: Aurobindo Pharma was the top loser among the Nifty basket of shares, down 2 per cent at Rs 592 after the USFDA released details of Form 483 issued to Unit 4 or Hyderabad facility. USFDA has issued seven observations for the plant which are regarding inadequate maintenance of infrastructure and deficient controls and improper procedures.

10:03 am: Shares of textbook publisher S Chand and Company made its debut on stock exchanges today. The stock rose as much as 5.5 per cent to hit high of Rs. 707 against its issue price of Rs. 670.

9:48 am: ABB was the top gainer in the mid-cap space, the stock surged as much as 10 per cent to hit fresh 52-week high of Rs 1,550 after the company post market hours on Monday reported net profit of Rs 88 crore compared with Rs 85 crore in the same quarter last year. The company reported strong order growth of 28 per cent in the March quarter.

9:32 am: The broader markets were also trading higher as the BSE mid-cap index jumped 0.24 per cent and the small-cap index rose 0.54 per cent.

9:25 am: The Sensex was up 72 points or 0.24 per cent at 29,999 and Nifty was at 9,331, up 17 points. From the Nifty basket of shares, 29 were trading higher while 22 were among the laggards. Axis Bank was the top Nifty gainer, up 1.28 per cent at Rs 518. Indian Oil, ACC, Grasim Industries, Tata Motors, Tata Steel and Asian Paints were also among the gainers. On the other hand, Aurobindo Pharma, Bharti Airtel, Cipla, Indiabulls Housing Finance and Sun Pharma were among the laggards.

9:01 am: Rupee opens lower at 64.42 per dollar against Monday's close of 64.30.

8:54 am: Bharti Airtel will be reporting its March quarter earnings later in the day. India's biggest telecom operator is likely to report consolidated net profit of Rs 542 crore compared with Rs 636 cror in the previous quarter. Its sales are likely to come in at Rs 22,572 crore compared with Rs 23,335 crore in the December quarter. On a standalone basis sales are expected to come in at Rs 13,519 crore against 13,836 crore in the previous quarter. Data Volumes growth is expected to come down by 16.9 per cent and average revenue per user for data is seen coming at Rs 165 compared with Rs 172 in December quarter.

8:42 am: Union Bank of India reported net profit of Rs 108 crore on net interest income of Rs 2,387 crore. Its gross non-performing loans as a percentage of total advances eased to 11.17 per cent from 11.70 per cent in the previous quarter.

8:28 am: Union Bank of India, ABB, Pokarna, Dig Jam, Mangalam Drugs and NOCIL were also some of the companies which reported their March quarter earnings post market hours on Monday.

8:26 am: Bharti Infratel reported net profit of Rs 596 crore compared with Rs 620 crore in the previous quarter. Its sales came in at Rs 3,520 crore against Rs 3,400 crore in December quarter. 

8:25 am: Shares of S Chand & Company will be listed at 10:00 am on stock markets today. The stock was issued at Rs 670 per share and the total issue size is Rs 728 crore.

8:20 am: Aurobindo Pharma will be in focus today after the USFDA released details of Form 483 issued to Unit 4 or Hyderabad facility. USFDA has issued seven observations for the plant which are regarding inadequate maintenance of infrastructure and deficient controls and improper procedures.

8:18 am: Most of the other Asian markets were trading on a flat note with Hang Seng rising 0.05 per cent, Taiwan Weighted up 0.07 per cent, Shanghai Composite down 0.46 per cent and Nikkei down 0.01 per cent.

8:14 am: The S&P 500 ended flat on Monday after briefly touching a record high, while Wall Street's "fear gauge" dropped to its lowest in over two decades following centrist Emmanuel Macron's victory in the French presidential election.

The CBOE Volatility index dropped 7.6 percent to 9.77, its lowest since 1993 as investors took comfort from Macron's victory, as well as from strong quarterly reports in recent weeks.

(With inputs from Thomson Reuters)