Sensex ends 39 points lower

Markets ended flat with a negative bias as investors turnec cautious ahead of the Bihar poll verdict on Sunday and US jobs data due later today.

The 30-share Sensex ended down 39 points at 26,265 and the 50-share Nifty ended down 1 point at 7,954.

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(Updated at 2:15pm)

Markets have slipped further in the late trades after sentiments dampened following exit polls at the end of five-phased polling in Bihar assembly elections yesterday indicating a close fight between between NDA and the Nitish Kumar-led Mahagatbandhan.

Meanwhile, US jobs data which is due to released today is keenly awaited by the market participants as it is likely to provide further cues pertaining to the timing of rate hike by the Federal Reserve.

At 2:15 pm, the 30-share Sensex was down 70 points at 26,235 and the 50-share Nifty has lost 17 points at 7,938.

In the broader markets, the BSE MidCap and SmallCap indices are down 0.7% each. Market breadth is weak with 1,550 losers and 928 gainers on the BSE.

The rupee weakened by 5 paise to trade at 65.79 against the US dollar at the Interbank Foreign Exchange due to sustained demand for the American currency from importers. 

STOCK TRENDS

On the sectoral front, 6 out of 12 sectoral indices are trading in red with BSE Healthcare index losing 2.5%.

SBI posted a 25% rise in stand-alone net profit at Rs 3,879.07 crore for the second quarter ended September. The stock is up 2%.

Dr Reddy’s Lab has cracked 13% after the company received a warning letter issued by the USFDA dated November 5 pertaining to its API manufacturing facilities situated at Srikakulam in Andhra Pradesh and Miryalaguda in Tamil Nadu and also at its Oncology formulation manufacturing facility located in Duvvada in Andhra Pradesh.

Tata Steel has dipped 3% on weak sales number in second quarter earnings. Net sales took a hit, on the back of lower expenses and higher other income. 

GAIL (India) has partnered with The Energy and Resources Institute (TERI) to develop a document which outlines the Indian corporate vision on various aspects of tackling climate change and aligning the vision with Government schemes in this direction. However, the stock is down over 2%.

Punjab National Bank reported 8% rise in standalone net profit to Rs 621.03 crore for the second quarter ended September 30, 2015-16. The stock is up 1.3%.

With heavy provisions for bad loans and fraud, Bank of Baroda's net profit for the second quarter ended September 2015 fell by 88.7% to Rs 124.48 crore. After losing over 5% , the stock has recovered in the late trades and is up 1.4%.

Steel Strips Wheels have escalated by nearly 4% after the company announced that one of its promoters has hiked her stake in the company by approximately half a per cent.

Cipla has inched up after the company posted a jump of 44% in its net profit to to Rs 431 crore ($65.56 million) in the quarter ended September 2015 on the back of growth in exports as against a net profit of Rs 299 crore in the same period last year.

Shares of IDFC Bank have listed at Rs 70.50 on the National Stock Exchange (NSE). The stock is trading flat on the NSE.

Shares of Engine manufacturer Cummins India have slumped 5% after the company posted a 2% decline in net profit at Rs 199 crore in the second quarter ended September 2015 as against a net profit of Rs 202 crore in the same quarter previous year.

Polaris Consulting & Services has lost 0.6% after US-based global information technology services company Virtusa Corporation decided to purchase 53% stake in Polaris for nearly Rs 1,173 crore.

Mahindra and Mahindra is trading 3% down however, the company posted profits in line with the street expectations and the revenue came better than expected. 

Shares of power generation and finance companies are under pressure, slipping by up to 13% in intra-day trade on the Bombay Stock Exchange (BSE), after the government approved rescue package for power distribution companies (discoms).

Rural Electrification Corporation (REC) has dipped 11% while Power Finance Corporation (PFC) slipped 9%.

Oil and Natural Gas Corp is up 1% ahead of its September quarter results

Bharat Heavy Electricals has slipped 3%ahead of its September quarter earnings. 

Shares of Motherson Sumi jumped over 4% after the company posted 174 per cent rise in its Q2 net profit figures at Rs 286.89 crore for the quarter ended September 30, 2015.


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