Sensex Falls For Second Day, Nifty Settles At 8,170

3:52 p.m.: The Sensex closed 127.71 points lower at 26,635.75 and Nifty fell 33.55 points or 0.41 per cent to close at 8,170.05.

3:16 p.m.: Shares of Visa Steel Ltd (VSL) on Friday surged 20 per cent after the company said it will seek shareholders' approval for the merger of its JV firm Visa Bao Ltd (VBL) in an attempt to optimise costs and secure availability of resources for its ferrochrome business.

The stock zoomed 20 per cent to Rs 16.38 - its highest trading permissible limit - for the day on BSE.

On NSE, it soared 19.7 per cent to touch the upper circuit limit of Rs 16.40. VBL is a joint venture between VSL and Baosteel of China, with VSL holding 65 per cent stake. (Read)

3:01 p.m.: Market breadth turns negative as 1,346 stocks decline while 1,169 advance.

2:48 p.m.: Shares of GVK Power & Infrastructure on Friday soared nearly 15 per cent after the company sought shareholders' approval for increasing the maximum limit of loans and guarantees that can be given to other entities.

The stock climbed 14.87 per cent to Rs 5.56 on BSE. On NSE, it soared 14.43 per cent to Rs 5.55.

GVK Power & Infra has sought shareholders' approval for increasing the maximum limit of loans and guarantees that can be given to other entities to Rs 15,000 crore from the current limit of Rs 10,000 crore. (Read)

2:30 p.m.: Power stocks continue to witness buying interest. The BSE Power index was up 0.72 per cent; JSW Energy was the top gainer from this space, up 3.5 per cent at Rs 81.10. GMR Infra, Suzlon Energy, BHEL, Thermax and CESC were also among the gainers.

2:21 p.m.: Shares of Yes Bank rose over 2 per cent in early trade on Friday after the bank said it has acquired an 8 per cent stake in Receivables Exchange of India (RXIL).

The stock gained 2.1 per cent to Rs 1,062.20 on BSE. On NSE, it jumped 2.14 per cent to Rs 1,062.40.

"Yes Bank has executed a share subscription and shareholders' agreement agreeing to subscribe for 20,00,000 equity shares of RXIL," it said in a BSE filing yesterday. (Read)

1:53 p.m.: Ambit Capital, which was bearish on domestic stock markets, has raised its Sensex target from 22,000 to 29,500 for the current fiscal year ending in March 2017. Ambit's new target implies a 10 per cent upside in Sensex from current 27,000.

Ambit cited the "firefighting done by the Reserve Bank and the Banks Board Bureau" for the change in its views. (Read)

1:43 p.m.: Auto stocks were among the worst hit in trades so far. The BSE Auto index fell nearly 1 per cent; Tata Motors was the top loser from this space, down 2 per cent to Rs 457. Ashok Leyland, Bharat Forge, MRF, Bajaj Auto, Hero MotoCorp, Eicher Motors and Maruti Suzuki were also among the laggards.

1:30 p.m.: Stock markets extended losses, Sensex fell 134 points to 26,630 and Nifty fell 39 points to 8,164 as heavyweights like Tata Motors, ITC, State Bank of India and ICICI Bank were witnessing selling pressure.

1:07 p.m.: The stock markets edged lower in the afternoon trades on the back of losses in auto banking, realty and oil & gas shares. The Sensex was down 49 points at 26,714 and Nifty was at 8,190, down 13 points.

12:56 p.m.: Sadbhav Infrastructure Project shares surged over 10 per cent after the road construction company said that it has received provisional completion certificate for the Bhilwara-Rajasamand tollway in Rajasthan. 

Following the approval, Sadbhav Infrastructure Project has started collecting toll for on Bhilwara-Rajasamand highway with effect from June 4, the company said. (Read)

12:41 p.m.: The stock markets came off the intraday high levels in noon deals on the back of selling pressure in Tata Motors, ITC, TCS and ONGC. Sensex was up 72 points at 26,835 and Nifty was at 8,225, up 22 points.

12:33 p.m.: Shares of logistics companies such as Snowman Logistics, Gati, Aegis Logistics, VRL Logistics, Allcargo Logistics, Gateway Distriparks and Blue Dart outperformed today on hopes of passage of GST Bill in Rajya Sabha in the upcoming monsoon session of Parliament.

Snowman Logistics was the top gainer from this pack with the stock rallying as much as 7.2 per cent to hit intraday high of Rs 75.80. Gati Ltd, Aegis Logistics, VRL Logistics and Gateway Distriparks gained between 2.5 per cent and 5 per cent. (Read)

12:02 p.m.: Market breadth remains positive as 1,498 stocks advance while 738 decline.

11:42 a.m.: Stock markets trade firmly higher. Sensex up 147 points at 26,911 and Nifty advances 44 points to 8,247.

11:36 a.m.: BSE small-cap index extends gains, rises 0.74 per cent; Jaypee Infratech was the top gainer from this space, up 20 per cent at Rs 7.35. GVK Power, Zicom, Monnet Ispat, Specialty Restaurants, Raj TV, Centum Electronics and JP Power were also up 8-13 per cent each.

11:30 a.m.: Tilaknagar Industries shares fell over 3 per cent on Friday after its losses widened in the fourth quarter ended March 31. 

The Mumbai-based liquor company reported a net loss of Rs 104 crore on sales of Rs 90 crore in the January-March quarter. 

Apart from a dip in sales, a provision of Rs 47 crore against doubtful advances hurt its bottomline. (Read)

11:23 a.m.: Power stocks were witnessing buying interest. The BSE Power index was the top sectoral gainer, up 1.4 per cent; JSW Energy was the top gainer from this space, up 5 per cent at Rs 82.30. Suzlon Energy, BHEL, Reliaqnce Infrastructure, Thermax, CESC, NTPC, Power Trading Corporation and Siemens were also among the gainers, up 1-3.5 per cent each.

11.07 a.m.: Strong buying in metal, energy, FMCG and banking shares pushed markets higher. The Sensex traded 165 points higher at Rs 26,928 while the Nifty was up 50 points at 8,253. BHEL was the top gainer in Nifty up 3.75 per cent followed by Hindalco, M&M, Yes Bank and Lupin, which were up between 1.8-3.2 per cent. 

Out of the 51 stocks in Nifty, 44 shares traded higher while only 7 shares traded with losses. 

10:52 a.m.: ONGC shares rose nearly 1 per cent to extend their gains for the fourth straight day, tracking the rising trend in global crude prices. Including today, ONGC shares are up over 4 per cent in last four sessions, outperforming the Nifty, which is unchanged. 

Crude oil prices have nearly doubled since hitting decade lows in early 2016 as strong demand and supply disruptions erode a glut that had pulled down prices by as much as 70 per cent between 2014 and early 2014. (Read)

10:44 a.m.: The stock markets turned flat on the back of recovery in IT stocks and buying in index heavyweight Reliance Industries. Sensex was up 14 points at 26,778 and Nifty was at 8,211, up 7 points.

10:17 a.m.: The stock markets came off the intraday low levels. Sensex trades 33 points lower at 26,730 and Nifty declines 7 points to 8,196.

10:03 a.m.: If monsoons are good, then Sensex can go up to levels of 28,000, says Andrew Holland of Ambit Investment Advisors

9:57 a.m.: Banking stocks were witnessing selling pressure. The Nifty Bank index was the top sectoral loser, down 0.22 per cent or 39 points at 17,848; ICICI Bank was the top loser form this space, down 0.77 per cent at Rs 252.60. Kotak Mahindra Bank, Axis Bank, Bank of Baroda, State Bank of India, Bank of India, IndusInd Bank and HDFC Bank were also among the losers.

9:46 a.m.: Market breadth is positive as 1,037 stocks are advancing while 498 are declining on the Bombay Stock Exchange.

9:38 a.m.: Jindal Steel was the top gainer from the mid-cap space, up 2 per cent to Rs 65.60. Reliance Infrastructure, Mphasis, Yes Bank, Canara Bank, Godrej Industries, Oriental Bank of Commerce, Adani Power, JSW Energy, Sun TV and Reliance Power were also among the gainers.

9:22 a.m.: Sensex slipped over 50 points while Nifty moved below its crucial psychological level of 8,200 on the back of selling pressure in select IT, pharma, auto and banking shares amid weak global cues.

As of 9:20 a.m., Sensex traded 45 points lower at 26,719 and Nifty fell 9 points to 8,194.

IT stocks were witnessing the heat of selling pressure for second consecutive day. The BSE IT index was the top sectoral loser, down 0.5 per cent. Select pharma, auto, FMCG and banking shares were also witnessing selling pressure.

The broader markets were outperforming the benchmark indices. The BSE mid-cap and small-cap indices jumped 0.2 per cent each.

From the Nifty50 basket of stocks, 27 were advancing while 24 were declining.

Aurobindo Pharma was the top Nifty loser, down nearly 2 per cent to Rs 738. Tata Motors DVR, ICICI Bank, Infosys, Hero MotoCorp, Dr Reddy's Labs, Eicher Motors, IndusInd Bank and HDFC were also among the losers.

On the other hand, BHEL, Power Grid, Ambuja Cements, Tata Power, Adani Ports, Yes Bank and Hindalco were among the prominent gainers in Nifty.