Monday 12 September 2016

Live Stock Market Updates - Sensex Drops Over 400 Points

Posted by suhani varma on Monday, September 12, 2016 with No comments

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Closing Bell:
Finally, the BSE Sensex ended with a loss of 444 points at 28,354. The BSE Sensex opened at 28,481 touched an intra-day high of 28,481.11 and low of 28,251.

The NSE Nifty closed with a loss of 151 points at 8,716. The NSE Nifty opened at 8,733 hitting a high of 8,747 and low of 8,699.

The BSE Sensex tanked over 500 points to 28,251 on weak global cues. The Indian stock market declined most since Britain voted to leave the European Union on June 24. The equity market opened lower on Monday tracking weakness in Asia and a plunge in US stocks on Friday on rising prospects that the US Federal Reserve could hike interest rates soon.

The S&P BSE Sensex is trading at 28,378 down 418 points, while NSE Nifty is trading at 8,726 down 141 points. The BSE Mid-cap Index is trading down 2.47% at 13,016 whereas BSE Small-cap Index is trading down 1.65% at 12,649.

Infosys, Delta Corp, Balkrishna Industries, ICRA, Tech Mahindra and Redington are among the gainers, whereas ICICI Bank, Tata Motors, Axis Bank, Tata Steel and M&M are losing sheen on BSE.

Some buying activity is seen in IT and teck sectors, while realty, metal, auto, capital goods, banking power and finance sectors are showing weakness on BSE.

The INDIA VIX is up 14.30% at 15.1225. Out of 1,861 stocks traded on the NSE, 1,303 declined, 283 advanced and 275 remained unchanged today. A total of 27 stocks registered a fresh 52-week high in trades today, while 19 stocks touched a new 52-week low on the NSE.

Shares of public sector undertaking (PSUs) banks were trading lower by up to 3% on the National Stock Exchange. The Nifty bank index fell  
Yes Bank Ltd is currently trading at Rs. 1219, down by Rs. 58.25 or 4.56% from its previous closing of Rs. 1277.25 on the BSE. The bank on Thursday deferred its proposed $1 billion (Rs.6,642 crore) qualified institutional placement (QIP). The Mumbai-based lender cited “extreme volatility and misinterpretation of new QIP guidelines” for the delay.

Suprajit Engineering soared 4% after the company announcing the successful completion of acquisition of Wescon Controls, Wichita, USA, through its wholly owned subsidiary Suprajit USA Inc, by purchasing 100% outstanding equity share capital from Shell Topco LP managed by a Private Equity Fund - Nova Capital, UK.

Mangalam Timber Products Ltd hit 20% upper circuit at Rs.36.35 after the company has informed BSE that the commercial production of captive thermal power plant at Company's Nabarangpur plant has commenced.

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