Sensex and Nifty ended on a weak note in trades today on the back of selling pressure in index heavyweights like Reliance Industries, HDFC and Axis Bank.
The Sensex ended 53 points lower at 28,077 and Nifty declined 6 points to close at 8,693.
Earlier in the day, Sensex fell as much as 172 points and Nifty hit a low of 8,652. However, a late recovery in banking shares helped benchmark indices pare losses to end marginally lower.
From the Nifty basket of shares, 27 ended higher while 24 closed lower.
Reliance Industries was among losers in the Nifty despite reporting strong September quarter earnings post market hours on Thursday. The stock closed 2.15 per cent lower at Rs 1,064. ACC, Axis Bank, Ambuja Cements, Cipla, HDFC, Hindalco and State Bank of India were also among the laggards.
On the other hand, HCL Technologies was among the Nifty gainers, the stock advanced 2 per cent to close at Rs 832 after the company in morning reported Q2 numbers which were better than estimates.
Idea Cellular, Tech Mahindra, IndusInd Bank, HDFC Bank and TCS were also among the gainers.
The broader markets ended on a flat note. The BSE mid-cap index jumped 0.3 per cent and small-cap index rose 0.1 per cent.
The overall market breadth was neutral as 1,457 stocks ended higher while 1,315 closed lower on the BSE.
3:25 p.m.: The stock markets came off the intraday lows on the back of buying in HDFC Bank, TCS and Hindustan Unilever. The Sensex was down 41 points at 28,088 and Nifty was at 8,697, down 3 points.
2:30 p.m.: The Sensex continues to reel under selling pressure, falls 150 points and Nifty hovers around 8,650.
2:09 p.m.: Titan Company, Torrent Pharma, Mlhasis, LIC Housing Finance, Oriental Bank of Commerce, Cummins India, Bank of India, MRPL and Castrol India were among the laggards from the mid-cap space.
2:00 p.m.: Realty stocks were witnessing buying interest. The BSE Realty index was up nearly 1 per cent on the back of buying in Unitech, DLF, Godrej Properties, indiabulls Real Estate, Oberoi Realty and Phoenix Mills.
1:54 p.m.: Shares of Reliance Industries on Friday fell by 2.5 per cent after the company reported 23 per cent decline in second quarter net profit.
The stock, even after a positive opening, failed to hold on to the gains and slipped 2.51 per cent to Rs. 1,061.10 on BSE.
1:42 p.m.: Market breadth remains neutral as 1,363 stocks advance while 1,252 advance.
1:34 p.m.: Dr Reddy's Labs was the top Sensex gainer, up 1.6 per cent to Rs 3,124. HUL, TCS, Wipro, HDFC Bank, ITC, Larsen & Toubro, GAIL India and Adani Ports were also among the gainers.
12:42 p.m.: Shares of Nucleus Software surged as much as 17 per cent to hit intraday high of Rs 223.90 after company reported three-fold rise in its September quarter net profit.
The Noida-based IT firm reported net profit of Rs 13.68 crore on sales of Rs 95.60 crore compared with net profit of Rs 4.54 crore on sales of Rs 84.68 crore during the same period last financial year.
12:29 p.m.: Shares of Biocon Ltd surged as much as 4 per cent to hit fresh 52-week high of Rs 1,020 after the company reported a net profit of Rs 146.7 crore in the September quarter.
The Bengaluru-based pharmaceutical company reported net profit of Rs 146.7 crore on sales of Rs 954 crore, compared with a net loss of Rs 10.6 crore during the same period last financial year.
12:18 p.m.: The broader markets were trading on a subdued note. The BSE mid-cap index declined 0.14 per cent and the small-cap index jumped 0.09 per cent. Torrent Pharma was the top lower from this space, down 2.7 per cent to Rs 1,566. LIC Housing Finance, Mohasis, Bajaj Finserv, Bank of India, Indian Bank and Sun TV were also among the laggards.
11:59 a.m.: Nucleus Software surges 14 per cent to Rs 217 on reporting three-fold increase in September quarter net profit.
11:46 a.m.: Cipla was among the top Nifty losers, down 3.76 per cent to Rs 574. Acis Bank, Hindalco, Reliance Industries, Ambuja Cements, HDFC, Bharti Infratel, Bank of Baroda, ONGC, Tata Steel, State Bank of India and Asian Paints were also among the losers, down 1-4 per cent each.
11:08 a.m.: The stock markets expended losses in early morning deals. The Sensex declined 160 points to 27,970 and Nifty declines 42 points to 8,657.
11:04 a.m.: Overall market breadth was neutral as 1,122 stocks were advancing while 1,120 were declining on the BSE.
10:54 a.m.: Banking shares continue to witness selling pressure, The Bank Nifty declines 0.56 per cent or 111 points to 19,548; Axis Bank was the top loser from this space, down 2.8 per cent to Rs 525. Bank of India, Federal Bank, Canara Bank, State Bank of India and Bank of Baroda were also among the laggards.
10:42 a.m.: Biocon shares surge 4 per cent to hit 52-week high of Rs 1,020 after company post market hours on Thursday reported net profit came in at Rs 146.7 crore compared with a loss of Rs 10.6 crore during the same period last year.
10:32 a.m.: Metal shares among the worst hit in trades so far. The BSE metals index was down 1.15 per cent; Hindustan Zinc, NMDC, Hindalco, Vedanta, Tata Steel, JSW Steel, SAIL and Jindal Steel were among the laggards.
10:06 a.m.: HCL Technologies on Friday reported better-than-estimated net profit for the July-September quarter, leading to a 4 per cent jump in its shares.
HCL Tech, India's fourth largest IT services company, posted a net profit of Rs 2,016 crore on sales of Rs 11,519 crore. Analysts polled by NDTV Profit had estimated its net profit to come in at Rs 1,969 crore on sales of Rs. 11,570 crore.
10:00 a.m.: The stock markets extended losses on the back of selling pressure in banking, metal, oil & gas, realty, auto and consumer durable shares. The Sensex fell 126 points to 28,003 and Nifty was down 37 points to 8,662.
9:30 a.m.: Sensex and Nifty edged lower in opening deals on Friday tracking profit -booking in banking shares after yesterday's sharp upmove amid subdued global markets.
As of 9:21 a.m., the Sensex fell 70 points to 28,060 and Nifty declined 15 points to 8,685.
Meanwhile, other Asian share markets were trading on a subdued.
The MSCI Asia Pacific Index fell 0.2 per cent to 139.96 as of 9.11 a.m. in Tokyo, tracking a retreat in US shares. Japan's Topix index swung, with exporters advancing amid expectations corporate earnings for the September quarter may not be as bad as expected with results beginning to trickle in amid a weaker yen.
Selling pressure was visible in banking, metal and oil & gas shares.
From the Nifty basket of shares, 28 were declining while 23 were advancing.
Reliance Industries was among the Nifty losers, down 0.5 per cent to Rs 1,082 despite reporting strong set of September quarter numbers.
HDFC was the top Nifty loser, down 1.15 per cent to Rs 1,344. Axis Bank, Ambuja Cements, ICICI Bank, ONGC, State Bank of India, Hindalco and Tata Steel were also among the laggards.
On the other hand, HCL Technologies was the top Nifty gainer, up 3.5 per cent to Rs 849 after India's fourth largest IT services company reported better-than-estimated net profit in the July-September quarter.
HCL Technologies posted a net profit of Rs 2,016 crore on sales of Rs 11,519 crore in Q2. Analysts polled by NDTV Profit had estimated its net profit to come in at Rs 1,969 crore on sales of Rs 11,570 crore.
Yes Bank, BPCL, TCS, Dr Reddy's Labs, ITC, Idea Cellular and Tata Motors were also among the gainers.
The broader markets were trading on a subdued note with BSE mid-cap index advancing 0.0.6 per cent and small-cap index jumping 0.2 per cent.
8:50 a.m.: Sensex and Nifty are set to open on a flat note tracking Nifty futures on the Singapore Stock Exchange amid subdued Asian markets.
Nifty futures traded on Singapore Exchange also known as the SGX Nifty was up 0.01 per cent or 0.50 points at 8,706.
Meanwhile, other Asian share markets were trading on a subdued.
The MSCI Asia Pacific Index fell 0.2 per cent to 139.96 as of 9.11 a.m. in Tokyo, tracking a retreat in US shares. Japan's Topix index swung, with exporters advancing amid expectations corporate earnings for the September quarter may not be as bad as expected with results beginning to trickle in amid a weaker yen.
Overnight, US stocks ended a choppy session on Thursday with a slight decline as investors digested the latest round of earnings, with a sharp drop in telecoms offset by gains in healthcare.
The Dow Jones industrial average fell 40.27 points, or 0.22 per cent, to 18,162.35, the S&P 500 lost 2.95 points, or 0.14 per cent, to 2,141.34 and the Nasdaq Composite dropped 4.58 points, or 0.09 per cent, to 5,241.83.
Back home, foreign institutional investors bought shares worth Rs 7.3 crore while domestic institutional investors bought shares worth Rs 583 crore on Thursday..
Reliance Industries will be in focus today after it reported strong September quarter earnings post market hours on Thursday. Its consolidated sales fell 2.04 per cent to Rs 59,577 crore but net profit rose 17.91 per cent to Rs 7,704 crore. Reliance Industries said that it managed to garner gross refining margin of $10.2 during the quarter.
HCL Technologies will also be on investors' radar after it reported better-than-estimated net profit in the July-September quarter.
HCL Technologies, India's fourth largest IT services company, posted a net profit of Rs 2,016 crore on sales of Rs 11,519 crore in Q2.
Analysts polled by NDTV Profit had estimated its net profit to come in at Rs 1,969 crore on sales of Rs 11,570 crore.
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