Sensex trades lower for first time in five days
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Mumbai: The 30-share bellwether BSE Sensex on Wednesday was trading marginally lower for the first time in five days led by losses in energy and pharma firms.
At 12pm, the Sensex was trading lower by 0.21%, or 50.14 points, at 24,326.74 points, while the National Stock Exchange’s (NSE’s) broader 50-share Nifty was trading down 0.21%, or 15 points, to 7,260.50 points.
The gainers included Bajaj Auto Ltd that was trading up 3.49% at Rs.1,936.75 and Hindalco Industries Ltd that rose 2.92% to Rs.160.20.
The BSE capital goods index was the top loser among the sectoral indices, down 0.97%.
Shares of Bharat Heavy Electricals Ltd (Bhel) were trading down 1.58% at Rs.273.50, while those of Sun Pharmaceuticals Industries Ltd were trading lower by 1.53% to Rs.578.30 per share.
Shares of Aditya Birla Nuvo Ltd were trading up 0.39% to Rs.1,248 as the company reported an 11% drop in fourth quarter profit, mainly on account of higher tax and finance expenses. Net profit, fell to Rs.176.13 crore in the three months ended 31 March from Rs.198.87 crore a year earlier and Essar Oil Ltd shares gained 14.56% to Rs.88.90 per share as the net profit increased by five times from a year earlier in the quarter ended 31 March as it benefited from a one-time foreign exchange gain and healthy refining margins.
Zee Entertainment Enterprises Ltd, UCO Bank will announce their January-March quarter earnings on Wednesday.
China’s Shanghai Composite was trading up 0.54%, while Hong Kong’s Hang Seng was trading up 0.11% and Japan’s Nikkei Stock Average dropped 0.24%.
Overnight, US markets dropped on Tuesday, The Dow Jones Industrial Average lost 0.83%, S&P 500 was down 0.65% and Nasdaq Composite dropped 0.7%.
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Claiming that the BJP has bagged 310 seats after the completion of five phases of the Lok Sabha polls, Union Home Minister Amit Shah on Tuesday urged the people of Odisha to free the state from babu-raj and allow the BJP to form government at the Centre and also in the state.
Addressing an election rally in Sambalpur where the BJP has fielded Union Minister Dharmendra Pradhan, Shah said this time lotus, the party's symbol, will bloom in Odisha.
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JSW Cement will invest around Rs 3,000 crore to set up a new cement manufacturing factory in Nagaur district of Rajasthan, said the Sajjan Jindal company on Tuesday.
The investment includes a clinkerisation unit of up to 3.30 million tonnes per annum and a grinding unit of up to 2.50 MTPA, along with an 18 MW waste heat recovery-based power plant, said the company, referring to manufacturing processes.
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