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8:45 AM: The Indian stock market is likely to open on a cautious note, with a slightly negative bias on Friday, tracking weak global cues. Information technology stocks will be in focus following HCL Technologies and Tata Consultancy Services reporting impressive results for the quarter ended 31 December 2014. Infosys had come out with strong numbers and an encouraging earnings forecast earlier this month. Bank stocks will see action following a few top notch banks coming out with buoyant quarterly results. HDFC Bank, Reliance Industries, Wipro and ITC will be in focus ahead of announcement of quarterly results. Federal Bank, Hindustan Zinc, NIIT, PTC India and TTK Prestige are among the other companies that will report their earnings during the session.
9:25 AM: It’s a weak start for the Indian stock market this morning with investors indulging in some selling in opening trades, tracking global cues. IT stocks are among the notable losers in early trade. Bank stocks are also a bit weak. Capital goods, realty and FMCG stocks are mostly flat, while select healthcare and metal stocks have moved higher. The Sensex is down 58 points or 0.26% at 21,207.18 and the Nifty is down 9.55 points or 0.15% at 6309.35.
10:27 AM: The market fell for the second consecutive session on profit taking, tracking weakness in its global peers. The Sensex declined 70.62 points to 21,194.56, and the Nifty fell 14.10 points to 6,304.80. Coal India kept its top position in the selling list, falling nearly 9 percent as it trades ex- dividend today. The company on January 14 declared an interim dividend of Rs 29 per share. TCS extended losses to 4 percent as the company disappointed the street with dollar revenue and margin though PAT beat analysts’ expectations.
11:00 AM: The market continues to remain rangebound. The Sensex is down 25.86 points at 21239.32, and the Nifty slips 1.85 points at 6317.05. About 374 shares have advanced, 251 shares declined, and 133 shares are unchanged. Rupee trades higher against the dollar tracking improvement in global risk appetite after US inflation, unemployment data released yesterday came along expected lines. Gilts also trade higher as market sentiment remains positive on easing WPI, CPI inflation rates in December.
12:25 PM: The market extended losses in noon trade with the 30-share BSE benchmark falling more than 100 points and the Nifty breaking the 6300-mark. It was weighed down by financials, metals and select technology stocks. The Sensex declined 130.74 points to 21,134.44, and the Nifty slipped 31.80 points to 6,287.10. Declining shares outpaced advancing ones by a ratio of 1453 to 796 on the BSE.
1:30 PM: The market is sliding further as banks, IT and realty stocks are succumbing to selling pressure. The Sensex is down 146.68 points at 21118.50, and the Nifty is down 37.70 points at 6281.20. About 793 shares have advanced, 1558 shares declined, and 251 shares are unchanged. TCS is down over 5 percent post announcing its third quarter results. Wipro is also trading lower ahead of its earnings. The other big earnings to watch out for is Reliance Industries . Reliance Industries is likely to report lower profits at Rs 5300 crore, gross revenue margins (GRMs) seen at USD 7.5 per barrel as compared with USD 7.7 per barrel last quarter.
2:25 PM: The market continued to see selling pressure in afternoon trade weighed down by banks, telecom, metals and select technology stocks. The Sensex declined 114.75 points to 21,150.43, and the Nifty slipped 26 points to 6,292.90. About two shares declined for every share advancing on the BSE. HDFC Bank fell 0.7 percent. The country’s second largest private sector lender matched street expectations on net profit front supported by other income but net interest income was below the forecast in the quarter ended December 2013.
* Multi Profitbuzz Performance (17th January 2014)
1. SBIN (Profit Rs.28/share & 3625/Lot)
2. RELINFRA (Profit Rs.6.80/share & 7000/Lot)
3. NIFTY (Profit Rs.3150/Lot)
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