MARKET LIVE: Sensex, Nifty trading in red; Axis Bank stock rises over 5% on likely fund infusion from Bain Capital | Indian Share Market

Indian Share Market


MARKET LIVE: Sensex, Nifty trading in red; Axis Bank stock rises over 5% on likely fund infusion from Bain Capital

largest private equity investments in the Indian banking sector, according to a media report. The stock fell post October 17 after the lender reported percentage of gross non-performing assets rising to 5.90 percent in Q2  from 5.03 percent in the sequential quarter ended June 30, 2017.

10:30 am: The FIIs were net sellers of stocks worth Rs 186.04 crore while the DIIs were net buyers of stocks worth Rs 139.68 crore in Monday’s trade.

10:20 am: HDFC Standard Life Insurance has fixed its IPO price band at Rs 275-290 per equity share. The private insurer’s Initial Public Offer will open on November 7 and close on November 9. The company will raise Rs 8,700 crore.

Also read:IDFC, Shriram call off merger after disagreement on share swap ratio

9:53 am: The Bharti Airtel stock was trading 0.53 percent lower at 490.20 level on the BSE ahead of its Q2 earnings today.

9:45 am: The  Shriram City Union Finance stock was trading higher a day after the merger with IDFC Group was called off. At 9:48 am, the stock was trading 3.72 percent or 81.30 points higher at 2267 level on the BSE. The IDFC stock was trading 2.84 percent higher at 63.45 level after opening in the red.

9:40 am: Mahindra and Mahindra’s (M&M) subsidiary Mahindra Logistics initial public offer (IPO) opens today. On Monday, the firm raised a little over Rs 247 crore from anchor investors. The company’s IPO committee has finalised allocation of 57,62,203 equity shares to 15 anchor investors at Rs 429 apiece, also the upper price band for the offer, Mahindra Logistics said. At this price, the total amount works out to be Rs 247.2 crore.

9:28 am: Steel giant Tata Steel’s stock was trading 1 percent higher at 726 level on the BSE. The firm swung into black by registering a consolidated net profit of Rs 1,017.78 crore in the quarter to September, helped by volume growth, higher sales and improved performance across verticals. The company had incurred a consolidated net loss of Rs 49.38 crore in the July-September quarter a year ago.

9:20 am: Analysts said market seems to be getting ready for some sort of a dip.

9:00 am: Country’s largest telco Bharti Airtel will announce its Q2 earnings today. Bharti Airtel closed 1.59 percent higher at 492.80 level on the BSE yesterday. Dabur, Dr Reddy’s, IndiGo, and JSW Steel  will also announce their quarterly results.

8:55 am: In Asia, markets are trading in red tracking overnight losses seen in US markets. Adding to the weakness was the Chinese Manufacturing PMI which missed estimates. Samsung’s 3Q profit almost tripled.

European markets closed on a mixed note reacting to latest quarterly numbers from Bankia, Glencore etc. Markets will wait for the Bank of England meeting on Thursday

US markets closed lower on reports that corporate tax cut could be gradual. Two day FOMC meeting to start today.

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