Sensex plunges 130 pts, Nifty settles below 9,200-mark; Infosys top loser

3.42PM:

The S&P BSE Sensex ended the day 130 points lower at 29,575 while the broader Nifty50 settled the day 18 points lower at 9,181.

Tata motors was the top gainer on the BSE while IOC was the top performer on the NSE.

Infosys was the top loser on both the bourses.

2.00 PM:

Tata Motors, Axis Bank, Coal India and Adani Ports added over 1 per cent to the BSE as top gainers while Infosys, Reliance, Asian Paints, NTPC, Wipro and HDFC shedded over 1 per cent.

1.28 PM:

Shares of NIIT fell as much as 11 per cent on the BSE in reaction to the news of its CEO's resignation.

NIIT made the announcement to stock exchanges on Friday evening saying,"Chief executive officer of NIIT limited, Mr Rahul Keshav Patwardhan, has tendered his resignation due to compelling family reasons and has requested to be relieved from the close of business hours of July 31, 2017."

1.02 PM:

The S&P BSE Sensex fell 87.74 points to trade at 29,618.87 while the broader NSE Index dipped to 9,182.65, losing 15.65 points.

1.00 PM:

Dilip Buildcon said it has bagged two EPC road projects worth about Rs 700 crore in Maharashtra from the Road Transport and Highways Ministry.

"The company has received letter of award from the Ministry of Road Transport and Highways (MORTH)... for two EPC road projects in Maharashtra," the company said in a BSE filing.

The contract includes a Rs 343.72 crore project for rehabilitation and upgradation of two lane with paved shoulders on EPC (engineering, procurement and construction) mode from Kalamb to Wadki.

The second order, worth Rs 340.04 crore, is for the rehabilitation and upgradation of two lane from Majalgaon to Kaij.

Shares of Dilip Buildcon were trading at Rs 362 apiece, up 1.79 per cent on BSE.

12.13 PM:

NTPC signs a 3.15 billion power supply pact with Bangladesh, reported CNBC TV 18.

12.08 PM:

Adani Ports signs a $ 2 billion pact with Bangladesh Power Grid.

The scrip was trading 1.79 per cent higher on the BSE.

12.00:

Early morning market gains are wiped out as Sensex trades at 29,696.11, down 10.50 points while the Nifty50 is trading flat at 9,202.00, up 3.70 points. 

There are also a set of key macroeconomic data -- IIP for February and CPI inflation for March -- due this week, which could made investors cautious.

IT heavyweight Infosys will kick off the earnings season as it gets ready to announce results on Thursday.

Oil and gas, energy and metal made most of sustained buying, but realty stocks lost out.

Broader markets stayed ahead of the Sensex as small-cap and mid-cap indices rose 0.78 per cent and 0.53 per cent, respectively.

Major gainers include Coal India 1.37 per cent, Tata Motors 1.11 per cent and Axis Bank 0.89 per cent.

The notable losers are HDFC, Asian Paints and M&M.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 262.37 crore last Friday, as per provisional data.

Domestic institutional investors (DIIs) bought shares worth a net Rs 414.94 crore.

Asian stocks were mixed as caution prevailed after increased geo-political risks pushed investors to government debt.

11.29 AM:

Indian Rupee

The rupee dropped a further 21 paise to 64.49 against the dollar today on growing safe haven appeal of the American currency after increased geo-political risks and higher chances of a tighter US monetary policy.

The rupee opened marginally lower at 64.30 against last Friday's level of 64.28 here today. It moved in a range of 64.50 to 64.30 during morning deals before quoting at 64.49 at 1025 hours.

Meanwhile, the dollar index was trading steady at 101.23 against a basket of six currencies.

Overseas, the dollar started the week at a three-week high against the basket of currencies today after a key US Federal Reserve official reinforced the central bank's commitment to interest rate hikes, going forward.

Fuel

India's fuel demand fell 0.6 percent in March compared with the same month last year, reported by Reuters.

Cooking gas or liquefied petroleum gas (LPG) sales increased 1.9 percent to 1.89 million tonnes, while naphtha sales surged 1.8 percent to 1.15 million tonnes.

9.16 AM:

The S&P BSE Sensex was trading at 29,759.34, up 52.73 points while the Nifty50 was trading at 9,220.90, 22.60 points higher.

9.14 AM:

LARSEN & TOUBRO

L&T Construction wins order worth Rs 5,250 in Qatar from KHARAHMAA

9.12 AM

STOCKS TO WATCH

TATA MOTORS

JLR plans to launch 10 new products in India

PHARMA SPACE

Indian Pharma regulator issues a notice on selling medicine above ceiling level.

Glenmark gets USFDA nod for Fenofibrate capsules, used to treat high cholestrol, reported CNBC TV 18.

RELIGARE ENTERPRISES

Religare Enterprises  will sell its entire 80 per cent stake in Religare Health Insurance to a consortium of investors led by private equity fund True North Managers for an estimated Rs 1,040 crore.

"The company has entered into definitive agreements with a consortium of investors led by True North Managers, an India based private equity fund, to divest its entire stake in Religare Health Insurance Company Ltd (RHI)," Religare Enterprises Ltd (REL) said in a BSE filing today.

9.07 AM:

NTPC, Reliance, Mahindra & Mahindra and Tata Steel were all up over 0.50 per cent on the BSE Sensex.

BPCL, IOC and Infratel posted gains in pre opening session on the Nifty.

9.03 AM:

Indian rupee opens 64.32 against the US dollar.

GLOBAL MARKETS

Asian stocks started this week's trade on a cautious note as geo-political tensions pushed investors to seek safer havens like government debts.

Even as market experts have forecasted a positive global market outlook, risk of a conflict have threatened this sentiment.

On the contrary, the US dollar climbed higher on reactions to the geo-political tensions.

China's Shanghai Composite was 0.22 per cent lower, Hong Kong's Hang Seng Index was trading 35 points higher while Japan's Nikkei was 122 points higher.