Highlights

1.30 pm ISTMarket update
1.17 pm ISTMarket update
1.13 pm ISTEuropean shares steady
1.10 pm ISTMidhani shares decline 3% on stock market debut
1.05 pm ISTICICI Securities shares slump 17% on market debut
11.52 am ISTEicher Motors shares jump 3% after Royal Enfield capex plan
11.47 am ISTCapacite Infra gets orders worth Rs365.50 crore
11.43 am ISTJSW Steel shares rise on March production data
11.40 am ISTFerro Alloys shares fall as lenders reject debt resolution plan
10.58 am ISTMarket update
10.55 am ISTInfibeam shares up over 3% on pact with TV18
10.50 am ISTZensar Technologies shares rise 6% on new orders
10.45 am ISTAkzo Nobel shares jump 5% on buyback proposal
9.40 am ISTICICI Bank shares fall after I-T notice to Deepak Kochhar
9.37 am ISTJet Airways shares gain over 1%
9.35 am ISTTata Motors shares rise nearly 3%
9.33 am ISTDefence PSUs: where big is not beautiful
9.30 am ISTRupee opens marginally higher against US dollar
9.25 am ISTMarket update

BSE Sensex and NSE Nifty traded lower on Wednesday. Photo: Mint

Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 erased gains in the second half of the day as the Reserve Bank of India kicked off its two-day policy meeting. Asian markets opened mixed as investors awaited China’s response to US tariffs. Overnight US stocks closed with gains as investors looked forward to earnings season. The Indian rupee was trading marginally higher in morning hours against US dollar. According to a Mint poll, the central bank will keep interest rates unchanged in the first monetary policy review of the current fiscal year, amid a gradual recovery in growth and easing inflation. Here are the latest updates from the markets:
1.30 pm IST Market updateBSE Sensex traded lower by 271.43 points, or 0.81%, to 33,099.20, while the Nifty 50 fell 87.90 points, or 0.86%, to 10,157.10. All the sectoral indices on BSE, except auto and realty, declined with consumer durables, capital goods and bankex shedding most. BSE MidCap fell 0.37% and SmallCap was down 0.51%.
1.17 pm IST Market updateBSE Sensex traded lower by 101.24 points, or 0.30%, to 33,269.39, while the Nifty 50 fell 22 points, or 0.21%, to 10,223.
1.13 pm IST European shares steadyEurope’s main stock markets steadied at the start of trading following a recovery on Wall Street and in Tokyo. London’s benchmark FTSE 100 index inched up 0.1% to 7,034.93 points. In the eurozone, Frankfurt’s DAX 30 was flat at 12,000.47 points and the Paris CAC 40 won 0.1% to 5,155.47. European indices had slid Tuesday on trade war fears but Wall Street stocks bounced back from the prior session’s rout as tech shares gained. (AFP)
1.10 pm IST Midhani shares decline 3% on stock market debutShares of speciality alloy maker Mishra Dhatu Nigam Ltd (Midhani) debuted at 3.33% discount to its issue price even after its Rs438 crore initial public offering (IPO) witnessed an overall subscription of 1.21 times last week. Midhani shares opened 3.33% lower on the BSE at Rs87 a piece , compared to the issue price of Rs90, which was the upper end of the price band between Rs87-Rs90 per share.
1.05 pm IST ICICI Securities shares slump 17% on market debutAfter a tepid response to the initial public offering (IPO) of ICICI Securities Ltd, the issue saw a weak listing. Shares of the brokerage and investment banking arm of ICICI Bank Ltd were listed at Rs431.10, down 17.09% from its issue price of Rs520. At 1.13pm, ICICI Securities shares were trading at Rs449.30 on BSE, down 13.60% from its issue price. The stock hit a high and a low of Rs462.70 and Rs431.10, respectively.
11.52 am IST Eicher Motors shares jump 3% after Royal Enfield capex planEicher Motors Ltd shares jumped 3.34% to Rs28,990 after the announcement that Royal Enfield will invest Rs800 crore in FY19 as capital expenditure (capex) and is starting work on the second phase of its Vallam Vadagal plant in Tamil Nadu.
11.47 am IST Capacite Infra gets orders worth Rs365.50 croreCapacite Infraprojects Ltd shares gained 1.39% to Rs332.50 after the company said it has received repeat orders worth Rs365.50 crore from Oberoi Realty Group.
11.43 am IST JSW Steel shares rise on March production dataJSW Steel Ltd shares rose 1.06% to Rs305.35 after the company reported that its March crude steel production rose 5% to 1.52 million tonnes compared to the same month last year. The company’s production for the fourth quarter also grew 5% to 4.31 million tonnes year over year.
11.40 am IST Ferro Alloys shares fall as lenders reject debt resolution planFerro Alloys Corp Ltd shares fell 5% to Rs 7 after lenders’ panel rejected debt resolution plans.
10.58 am IST Market updateBSE Sensex traded higher by 125.55 points, or 0.38%, to 33,496.18, while the Nifty 50 gained 26.05 points, or 0.25%, to 10,271.05. BSE MidCap and SmallCap rose 0.80% and 1.13%, respectively. Among the sectoral indices on BSE, realty, auto, industrials were trading higher, while oil and gas, consumer durables and IT declined. Tata Motors, M&M, Yes Bank and Maruti Suzuki India were top gainers, whereas Dr. Reddy’s Labs, NTPC, HDFC and Coal India were among the major losers.
10.55 am IST Infibeam shares up over 3% on pact with TV18Infibeam Incorporation Ltd shares added 3.4% to Rs164 after the company said it entered into an agreement with TV18 for advertising products, services and brands.
10.50 am IST Zensar Technologies shares rise 6% on new ordersZensar Technologies Ltd shares gained 6% to Rs955.40 after the company said it won a multi-year contract with City of San Diego for network services, with value of order seen at about $79 million.
10.45 am IST Akzo Nobel shares jump 5% on buyback proposalAkzo Nobel India Ltd shares rose 5.1% to Rs1,893 after the company said its board will meet on 6 April to consider buyback.
9.40 am IST ICICI Bank shares fall after I-T notice to Deepak KochharICICI Bank Ltd shares fell 1.1% to Rs266.60. The Income Tax Department has issued a notice to Deepak Kochhar, husband of ICICI Bank MD and CEO Chanda Kochhar, in connection with its tax evasion probe in the Videocon bank loan case
9.37 am IST Jet Airways shares gain over 1%Jet Airways India Ltd shares rose 1.4% to Rs 622.45 after the company said it will buy 75 Boeing 737 max planes
9.35 am IST Tata Motors shares rise nearly 3%Tata Motors Ltd shares were up 2.8% at Rs352.80. Tata Sons chairman Natarajan Chandrasekaran has asked Tata Motors Ltd to create value for the group, especially from its domestic business, in line with his objective of making Tata group companies more accountable.
9.33 am IST Defence PSUs: where big is not beautifulProvisional revenues released by these companies imply that Bharat Electronics closed the previous fiscal year with a revenue growth of 13.3%, way more than the 2.2% rise reported by Hindustan Aeronautics.
Defence PSUs: where big is not beautifulhttps://t.co/X4fztICfx8
— Livemint (@livemint) April 4, 2018
9.30 am IST Rupee opens marginally higher against US dollarThe Indian rupee was trading marginally higher in morning hours against US dollar on Wednesday as the Reserve Bank of India kicked off its two-day monetary policy meeting. The rupee opened at 64.98 a dollar. At 9.15am, the home currency was trading at 64.95 a dollar, up 0.10% from its Tuesday’s close of 65.01. The 10-year bond yield was at 7.341% compared to its previous close of 7.331%. Bond yields and prices move in opposite directions.
9.25 am IST Market updateBSE Sensex traded higher by 49.94 points, or 0.15%, to 33,420.57, while the Nifty 50 gained 9.05 points, or 0.09%, to 10,254.05.