10:45am Market Update: The
Sensex dropped 190.04 points to 28252.06 and the Nifty fell 62.55 points to
8543.45.
About 830 shares have advanced, 1345 shares
declined, and 141 shares are unchanged on the BSE.
10:25am New IPO: MEP
Infrastructure Developers is going to open its initial public offer (IPO) of
5.14 crore equity shares for subscription on Tuesday, April 21, 2015.
The Mumbai-based toll management company has
fixed price band of the issue at Rs 63-65 per share. The public issue will
close on April 23.
Bids can be made for minimum 225 equity shares
and in multiples of 225 equity shares thereafter.
MEP Infrastructure intends to utilise the net
proceeds of the issue to repay loans availed by subsidiary MIPL and for general
corporate purpose.
10:00am Market Check
Equity benchmarks as well as broader markets
extended losses in morning trade today, dragged by technology, auto, FMCG and
HDFC group stocks. The Sensex fell 129.45 points to 28312.65 and the Nifty
declined 43.20 points to 8562.80.
The BSE Midcap and Smallcap indices fell 0.9
percent each. About 797 shares have advanced, 1104 shares declined, and 127
shares are unchanged on the BSE.
Markets could crack further from these levels, is
the word coming in from Ajay Srivastava, CEO, Dimensions Consulting. He says
oil was the best low-hanging fruit for the Indian market. But if it stays where
it is or prices increase a bit, the Indian economy will suffer, he says.
Besides, as things stand, the recovery on the ground is getting more and more
delayed, he adds.
Infosys topped the selling list on Sensex, down
2.6 percent followed by TCS, Tata Motors, Mahindra & Mahindra, Hero
Motocorp, Coal India and Sesa Sterlite with 1-2 percent losses.
Index heavyweight Reliance Industries declined
0.7 percent despite strong earnings in Q4 with the profit rising over 22
percent and gross refining margin at USD 10.1 a barrel.
However, shares of Sun Pharma rebounded today
with 2.6 percent upside. ICICI Bank, Dr Reddy's Labs, ONGC and Tata Steel
gained 0.5-1 percent. For more information please visit this site www.appsmine.org
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