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Business News/ Market / Stock-market-news/  Live updates: Rupee closes little changed against dollar at 63.44
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Live updates: Rupee closes little changed against dollar at 63.44

Here are the key developments affecting the domestic and international markets today

A file photo of the BSE building in Mumbai. Photo: Hemant Mishra/MintPremium
A file photo of the BSE building in Mumbai. Photo: Hemant Mishra/Mint

5:00pm: The Indian rupee erased all the morning losses and closed little changed against the dollar at 63.44. Read more

3:30pm: The S&P BSE Sensex closes 0.18%, or 50.45 points lower at 27,440.14, while the CNX Nifty ends 0.14%, or 11.25 points, lower at 8,320.70. Mahindra and Mahindra Ltd, Housing Development Finance Corp. Ltd, State Bank of India, Cipla Ltd and NTPC Ltd are the top Sensex losers.

3:13pm: Shares of South Indian Bank Ltd fell 4.3% to 23.50 apiece after the bank reported a 87% drop in its net profit to 16.32 crore in the March quarter as compared with 108.28 crore a year ago due to higher provisions. Provisions jumped 387% from a year ago to 137.74 crore as compared with 28.28 crore.

3:04pm: Shares of Kotak Mahindra Bank Ltd are trading 6.42% higher at 1,422 apiece after the lender announced the March quarter results. The bank’s stand-alone net profit increased 30% to 527 crore from 407 crore in the corresponding period last year due to sharp rise in earnings from fees and commissions the bank charges its customers. The bank also announced a bonus issue of one equity share for every one held in the bank, subject to shareholder approval at the annual general meeting (AGM) later this year.

2:40pm: The S&P BSE Sensex is trading 0.41%, or 113.18 points, lower at 27,377.41, while the CNX NIfty is trading 0.33%, or 27.70 points, lower at 8,304.25.

Shares of Jubilant Life Sciences Ltd rose 9.5% to 167.90. A huge block deal was executed on the counter on the exchanges, Bloomberg reported. Around 8.59 million equity shares, or 5.4% stake of the company, have changed hands in two block deals. Further details of buyers and sellers were not available.

Shares of Reliance Anil Dhirubhai Ambani Group companies were trading higher on the back of higher volumes. Reliance Communications Ltd rose 10% to 69.90, Reliance Infrastructure Ltd rose 2.7% to 447, Reliance Power Ltd rose 2.4% to 60.50, while Reliance Capital Ltd rose 2.5% to 424.40.

Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay High court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.

1:20pm: The BSE Sensex slips in afternoon trade, falling 126.51 points, or 0.46%, to 27,364.08.

1:00pm: Housing Development and Infrastructure Ltd (HDIL) gains 1.8% after the company commenced handing over 1,336 tenements that have been built for rehabilitation of slum dwellers to Municipal Corporation of Greater Mumbai, said Goldman Sachs.

Goldman Sachs maintains “neutral" rating but raises target to 128 a share from 118 earlier.

12:40pm: The Sensex is currently trading flat in a volatile session. The 30-share index is up 15.71 points, or 0.06%, to 27,506.30.

12:01pm: Sun Pharmaceutical Industries shares rise as much as 1.5% after unit Taro Pharmaceutical pushed through price increase in a couple of products, says Credit Suisse.

The new set of price increases will boost Ebitda by 4%, Credit Suisse analysts Anubhav Agarwal and Chunky Shah say.

11:30am: The S&P BSE Sensex reversed its losses to trade 64.15 points, or 0.23%, higher at 27,554.74.

11:10am: IT stocks rise after rival Cognizant Technology Solutions Corp raises full-year revenue and adjusted profit forecast. TCS gains 1.3%, Wipro 0.9% and Tech Mahindra 1.1%.

Indian IT stocks have corrected after Q4 numbers and valuations are now more reasonable, says Religare.

11:00am: Shares of defence companies are trading higher on back of higher volumes. BEML Ltd rises 4.6% on BSE, Bharat Electronics Ltd is up 6%, Pipavav Defence and Offshore Eng Ltd 1%, Dynamatic Technologies Ltd 2.5%, Walchandnagar Industries Ltd 4%, Astra Microwave Products 2% and Larsen and Toubro Ltd 2%.

10:45am: Sun TV Network Ltd falls 3.2% to 357.45 after the stock turned ex-dividend for 6 apiece.

10:40am: Credit Suisse cuts earnings per share (EPS) estimates of Nifty firms for FY16 and FY17 by 2% and 1%, respectively. The bulk of the cuts come from Cairn India, Bharat Heavy Electricals and cement stocks.

Credit Suisse says FY15 NSE index EPS growth may settle at 6% compared with 8% currently.

10:30am: Future Retail shares extend thir five-day rising streak, rising as much as 3.8%, after announcing a merger Sunil Mittal’s Bharti Retail Pvt. Ltd to reduce costs and get cheaper loans. Read more.

10:00am: The S&P BSE Sensex is now trading down 29.17 points, or 0.11%, to 27,461.42.

9:59am: SKS Microfinance Ltd climbs 6.2% to 492.55 after the company reported a 49% increase in its net profit to 40.54 crore in the March quarter.

9:57am: V-Guard Industries Ltd falls 4% to 968.60 after the company reported a marginal 2% decline in net profit for the March quarter at 20.07 crore on the back of higher tax outgo.

9:55am: DLF Ltd rises 1.6% to 140.54 after a PTI report said that it’s likely to raise about 3,600 crore this quarter through the issue of securities, backed by its IT-SEZ, as part of a strategy to replace costlier debt.

9:53am: Ashapura Intimates Fashion Ltd surges 8.2% to 291 after DSP Blackrock Mutual Fund bought 640,000 shares of the company, according to BSE bulk deal data.

9:50am: Indosolar Ltd climbs 4.2% to 18.55 after the company reported a net profit of 8.09 crore in the March quarter as against a net loss of 41.02 crore.

9:47am: Kotak Mahindra Bank Ltd is trading up 1.5% to 1,356.10 ahead of its March quarter earnings. According to 14 Bloomberg analysts, the bank is likely to report a net profit of 716.60 crore in the March quarter.

9:44am: Tata Consultancy Services (TCS) Ltd rises 2% to 2,527.35 after Cognizant Technology Solutions Corp. reported a strong 20.2% growth in the March quarter, taking the revenue to $2.91 billion from a year ago. Cognizant raised its growth outlook to $12.24 billion for 2015 from the forecast of $12.2 billion given at the start of the year, cementing the view that the firm remains insulated from the worries that afflict Indian rivals.

9:40am: Earnings today—ABB India Ltd, Century Textiles and Industries Ltd, Dabur India Ltd, Elder Pharmaceuticals Ltd, Kotak Mahindra Bank Ltd, Muthoot Finance Ltd, NIIT Technologies Ltd, Oriental Bank of Commerce, Pfizer Ltd, Rain Industries Ltd, State Bank of Travancore, South Indian Bank Ltd, Sun Pharma Advanced Research Co. Ltd and Tube Investments of India Ltd

9:35am: Among the BSE sectoral indices, the realty index is the top gainer, up 0.9%, followed by healthcare, IT and capital goods, which were up 0.5% each. The BSE Power index is the top sectoral loser, down 0.7%, followed by BSE FMCG and Bankex, which are down 0.2% each.

9:31am: The equity markets open the session slightly weaker. The 30-share S&P BSE Sensex falls 33.39 points, or 0.12%, to 27,457.20, while the CNX Nifty of the National Stock Exchange is trading at 8,313.45, down 18.50 points, or 0.22%.

9:20am: The yield on India’s 10-year benchmark bond was trading at 7.872% compared with its Friday’s close of 7.86%.

9:15am: The rupee opens weaker at 63.54 per dollar after a long trading holiday. The Indian currency had closed at 63.42 per dollar on Thursday last week. Read more.

9:10am: The dollar strengthens to 120.15 yen from 120.11 yen in the previous trading session. The euro slips to $1.1143 from $1.1147.

9:07am: Benchmark US crude slips 7 cents to $58.86 in electronic trading on the New York Mercantile Exchange. Brent crude is down 7 cents to $66.38 a barrel in London.

9:02am: Australia’s S&P/ASX 200 rises 0.2% to 5,840.70 ahead of the conclusion of a central bank meeting. Hong Kong’s Hang Seng edges up 0.2% to 28,176.31 while the Shanghai Composite Index in mainland China loses 0.7% to 4,448.42. Benchmarks in Taiwan and Singapore fall while New Zealand’s rises. Markets in Japan and South Korea are shut for holidays.

9:00am: Asian shares inch cautiously higher as investors wagered Australia would become the latest country in the region to inject more policy stimulus into its economy. MSCI’s broadest index of Asia-Pacific shares outside Japan is up a slim 0.19%.

8:55am: US stock benchmarks closed just short of a record, assisted by some positive earnings reports. The Dow Jones industrial average climbed 0.3% to 18,070.40 and the Standard and Poor’s 500 rose 0.3% to 2,114.49, within three points of its all-time high reached on 24 April. The Nasdaq composite gained 0.2% to 5,016.93.

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Published: 05 May 2015, 09:36 AM IST
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