Markets live: Sensex, Nifty open flat, Nalco shares fall over 6%

By Rob 0

BSE Sensex opens flat. The broader Nifty, too opens flat. The Indian rupee rises against the US dollar. However, the Asian currencies trade lower. The shares of National Aluminium Co. Ltd and Tata Consultancy Services fall, while those of Hindustan Oil Exploration Co. rise.

9.38am: BSE Sensex trades higher by 3 points, or 0.01%, to 29,322, while the Nifty 50 rises 5 points, or 0.06%, to 9,110.

9.30am: National Aluminium Co. Ltd (Nalco) shares fall 6.3% to Rs68.80 as its offer for sale starts. The government said it will sell 10% stake in the company and raise around Rs600 crore.

9.25am: Tata Consultancy Services Ltd shares fall 1.6% to Rs2,272 after weaker then expected earnings. The company missed analysts’ estimates for both revenue and profit in the fourth fiscal quarter, even as India’s largest software services firm’s full-year sales rose 6.2% to $ 17.58 billion. The company reported revenue of $ 4.45 billion in the three months ended 31 March, a 1.5% increase from the preceding quarter and 5.8% from the year-ago period. Net profit totalled $ 992 million, a 0.8% decline on a sequential basis and an increase of 5.8% from the year-ago period.

9.20am: Hindustan Oil Exploration Co. Ltd shares rise 1.5% to Rs85.40 after the company said it reported a net profit of Rs98.24 crore in March quarter against net loss of Rs18.26 crore a year ago. Net sales rose 37.5% to Rs79.72 crore.

9.15am: The rupee opened at 64.61 a dollar. At 9.15am, the rupee was trading at 64.57, up 0.09% from its Tuesday’s close of 64.63. Year-to-date, it gained 5.3%.

9.10am: The 10-year bond yield was trading at 6.862% compared to its previous close of 6.864%. Bond yields and prices move in opposite directions

9.00am: Asian currencies were trading lower. Singapore dollar was down 0.11%, Singapore dollar 0.09%, China offshore spot 0.09%, Philippines peso 0.07%, Taiwan dollar 0.07% and South Korean won 0.06%. However, Thai baht was up 0.09% and Malaysian ringgit 0.08%.

First Published: Wed, Apr 19 2017. 09 47 AM IST

[Source: livemint.com]