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Sensex trades marginally lower; Bhel, Tata Motors fall 

 

Mumbai: The 30-share bellwether BSE Sensex on Thursday was trading marginally lower led by losses in consumer durables, capital goods and power companies. The rupee which weakened past 62 mark in opening session also muted down sentiment. At 9.42am, the Sensex was trading lower by 0.10%, or 28 points, at 28,004.41 points, while the National Stock Exchange’s broader barometer 50-share Nifty was trading down 0.11%, or 8.90 points, at 8,373.40 points. The gainers included State Bank of India (SBI) that was trading up 1.5% to Rs.295.35 as it turned ex-split on Monday and Oil and Natural Gas Corp. Ltd (ONGC) that rose 1% to Rs.387.75. Among the losers, Bharat Heavy Electricals Ltd (Bhel) fell 1.7% to Rs.245 and Tata Motors Ltd fell 1.1% to Rs.523. Among the sectoral indices, BSE FMCG was the top sectoral gainer, up 0.6% followed by BSE healthcare index which was up 0.4%. BSE IT and Teck indices were up 0.2% and 0.1%, respectively. BSE consumer durables index was the top sectoral loser. down 0.9% followed by BSE capital goods and power indices which were down 0.7% each. BSE realty and auto indices were down 0.5% and 0.4% respectively. Ranbaxy Laboratories Ltd fell 1.4% to Rs.594.50 after the company lost a bid for a temporary court order to block rivals generic versions of the heartburn pill Nexium and the antiviral drug Valcyte. Amtek Auto Ltd, Bosch Ltd, Engineers India Ltd, Indiabulls Housing Finance Ltd, Strides Arcolab Ltd and Wockhardt Ltd will be included in F&O from 28 November, NSE said in a release. Amtek Auto rose 4.3%, Engineers India 1.8%, Indiabulls Housing Finance 0.7%, Strides Arcolab 3.4% and Wockhardt 2.9%. ING Vysya Bank Ltd was trading at Rs.801 on BSE up 5.4% while Kotak Mahindra Bank Ltd was up 5.6% to Rs.1,139 after news report said that Kotak Mahindra Bank is in final stages of acquiring ING Vysysa Bank. However Kotak Mahindra Bank has clarified that there is no decision about any merger or acquisition. Alok Industries Ltd was trading at Rs.11.63 on BSE, up 4.3% from previous close after the company said it will raise Rs.2,000 crore through a land sale in next two years by selling its store 21 and land in Mumbai, Vapi and Silvassa for reducing its debt and it also hopes to double exports in the next three years period. Indiabulls Securities Ltd rose 5.4% to Rs.26.35 after the company said its subsidiary Indiabulls Distribution Services Ltd has acquired India Land and Properties Pvt. Ltd, a real estate firm, for Rs.600 crore. Since the beginning of this year, the Sensex has gained 32.30%, while foreign institutional investors have bought $15.43 billion from local equity markets. US markets ended in the red as Fed minutes revealed few insights about the Fed’s policy plans and there was no additional clarity about when interest rates would be hiked. Nasdaq Composite fell 0.5%, S&P 500 and Dow Jones Industrial Average closed marginally in the red. Asian stocks were trading mixed on Thursday as fresh data signalling a further loss of momentum in China’s economy weighed on sentiment, while the yen slid to multi-year lows against the dollar and euro. Japan’s Nikkei Stock Average was trading marginally higher 0.02% after it recorded its smallest trade gap since June 2013 led by higher exports, Hong Kong’s Hang Seng up 0.13% and China’s Shanghai Composite was down around 0.2%

md.aquil alam

pgdm 2^nd year

iimt college of management

source. Live mint