Sensex closes 323 points down, Nifty at 11,497; Tata Motors, Reliance Industries, ICICI Bank top losers

Benchmark indices Sensex and Nifty closed in the red after trading negative in the afternoon session Tuesday, backed by global cues.

The BSE Sensex closed at 38,276.63, down 323.71 points and Nifty50 fell 100.35 points to 11,497.90. Nifty has been losing for the last 5 days and has fallen 2.20% in the period. Zee Entertainment, BPCL, Tata Motors, Reliance Industries and ICICI Bank were among the top losers.

Except IT, Consumer Durables and Capital goods, all the other indices closed in the red. Of 30 Sensex stocks, 24 stocks and 30 out of 50 stocks of Nifty closed in the red. Overall 1,677 stocks declined against 859 advacing stocks on BSE, while 143 remian unchanged, with a advance decline ratio of 0.52. On NSE, 1174 stocks declined against 490 advanced and 78 unchanged, with an AD ratio of 0.42

Here's a look at live updates for the Indian share market today.

3:45pm : Nifty is trading down by 100 points and Sensex is down by 323.71 points.

US Future declined 126 points or 0.5%

Brent Crude slipped 1% at $70.6/bbl

USDINR declined 4 paisa at Rs.69.36

10-Year G-Sec Yield decline 1bp at 7.38%

#MOMarketUpdates

- Motilal Oswal Group (@MotilalOswalLtd) May 7, 2019

3: 30 pm: Stocks in Europe and the US fell following a sharp retreat in China, as investors were caught off guard by the president's tweets accusing Beijing of seeking to renegotiate the deal before further discussions scheduled for this week in Washington.

CURRENT:11,490.95, CHG:-107.3/-0.93%, HIGH:11,657.05, LOW:11,484.45, For detail:https://t.co/2qzJKwqKk1 - May 07, 2019 15:23:24

- NSE_NIFTY (@NSE_NIFTY) May 7, 2019

3: 25 pm: Escorts Limited today reported, Standalone profit of Rs 484.9 crore in year ended March 31, 2019 up by 40.7 per cent as against a profit of Rs 344.7 crore in the previous fiscal and consolidated profit of Rs 477.9 crore in year ended March 31, 2019 up by 37.9 percent as against a profit of Rs 346.6 crore in the previous fiscal.

Profit for quarter ended March 2019 was up by 7.8 percent at Rs 121.4 crore as against Rs 112.5 crore in the corresponding quarter last year.

The Board of Directors recommended a dividend on Rs 2.5 per share of face value Rs 10, for 2018-19 as against the dividend on Rs 2 per share of face value on 10 in 2017-18.

Ecorts Q4 net profit Rs1.21bn (up 8% YoY) - expectation Rs1.29bn, EBITDA margin 11.6% - expectation 11.8% , EBITDA Rs1.9bn - expectation Rs1.97bn and income Rs16.3bn (up 14%) - expectation Rs16.70bn - inline. #MOMarketUpdates

- Motilal Oswal Group (@MotilalOswalLtd) May 7, 2019

3:10 pm: Nifty is trading down by 67.70 points and Sensex is down by 254.67 points. Only 9 out of 30 stocks on Sensex and 14 out of 50 stocks on Nifty are trading in green.

2: 50 pm : China says tariffs won't resolve any problems in trade dispute with US. Foreign ministry spokesman Geng Shuang, speaking at a daily press briefing, said China hopes that the United States will work with China to resolve each other's concerns.

2:35 pm: L&T, Hindustan Unilever, Titan and Power Grid are top gainers on the exchange, whereas Zee Entertainement, BPCL, Tata Motors  and ICICI Bank are among the top losers.

2:15 pm: Jyothy Lab reports net profit of Rs 67 cr, 11 per cent up against Rs 60 cr recorded in the corresponding quarter last year. It was up almost 38% against Rs 48 cr achieved in the December quarter

Company's revenue has increased to Rs 504 cr against Rs 474 cr by 6.3 per cent and the EDITBA decreased by 6 per cent from Rs 87 cr in the corresponding quarter a year ago to Rs 82 cr.

The Operating EBIDTA margin for the quarter stood at 16.4% as against 18.5% in Q4FY18. The company reported Basic EPS (Non-annualized) of Rs. 1.84 as against Rs. 1.66 in the corresponding quarter of last year.

The Board of Directors has recommended dividend of Rs. 3/- per equity share of Re 1/- each for the financial year 2018-19. The same is subject to approval of the shareholders.

Jyothi Labs Q4 net profit Rs670.5mn (up 11% YoY) - Expectation Rs605mn, Tax gain Rs110.3mn vs loss Rs82.5mn, EBITDA margin 16.4% vs 18.5% (expectation 18%) Income Rs5.04bn - expectation Rs5.06bn. #MOMarketUpdates

- Motilal Oswal Group (@MotilalOswalLtd) May 7, 2019

1:45 pm: Sanofi India reports January-March quarter earnings with profit coming in 12.6% higher at Rs 93 cr against Rs 82 cr achieved in the corresponding quarter a year ago. The total income is up 15.6 % at Rs 740.3 cr. as compared to Rs 640.3 cr acheived in the corresponding quarter last year.

Sanofi India Q4 net profit Rs929mmn - Bloomberg expectation Rs962.3mn and income Rs7.17bn - Bloomberg Expectation Rs6.94bn. #MOMarketUpdates

- Motilal Oswal Group (@MotilalOswalLtd) May 7, 2019

1:20 pm: RCF, Vedanta, Escorts, Ceat, 3i Infotech, ABB India, Brigade Enterprises,Globus Spirits, Essel Propack, Elecon Engineering, Jyothy Laboratories, Sanofi India, Star Cement, VIP Industries and Gujrat Borosil are the companies that would be posting their Q4 results today.

1: 00 pm: Sensex trading 30 points higher at 38,630, Nifty up just 7 points to 11,604.

12: 45 pm: Unichem Laboratories share price trading flat at 186.15 on BSE after the firm said it has received tentative approval from the US health regulator for its generic copy of allergic rhinitis Johnson & Johnson Consumer Inc's Zyrtec-D 12 Hour used for treating allergic rhinitis. The tentative nod by the US Food and Drug Administration (USFDA) is for the company's Cetirizine Hydrochloride and Pseudoephedrine Hydrochloride extended-release tablets, 5 mg/120 mg, Unichem Laboratories said.

12: 30 pm: "We saw the markets react to trade war worries yesterday (Monday), but it is going to be just a short-to-medium term blip. We continue to believe India is a consumption-driven economy and it will be an advantage for India, if things go sour between US and China," said Gaurang Shah, senior vice-president at Geojit Financial Services in Mumbai.

12: 00 pm: Hindustan Petroleum (3.92%), Kajaria Ceramics (3.77%) and Heritage Foods (3.61%)  are top losers on BSE.

11: 30 am: Goods and Services Tax (GST) regime in India is not likely to reduce the deficits of state governments significantly, amid large and growing expenditure mandates for the social sector as well as capital spending, says a report. According to S&P Global Ratings the institutional framework for Indian states is evolving, but there is structural deficits due to persistent revenue expenditure mismatch.

11: 00 am: Top gainers on BSE are Manpasand Beverages (10%), Marico (7%), and Orient Cement (5%). 

10: 34 am: Market sees profitbooking at higher levels. Sensex trading 93 points higher at 38686 and Nifty  rises 13 points to 11,611. 

10: 15 am: Reliance Industries (1.11%), IndusInd Bank (0.77%) and ICICI Bank (0.54%)  are the top Sensex losers.

9: 54 AM: PC Jeweller share price rises 7% to 131.95 in early trade. The stock has been hading North for the last 2 days and risen 17.24% in the period.

9: 40 am: Marico share price rises 6.62% to 361.65 after the homegrown FMCG major posted over two-fold increase in consolidated net profit at Rs 405 crore for the fourth quarter of 2018-19, aided by one-time write-back of tax provisions amounting to Rs 188 crore. The company had reported a net profit of Rs 183 crore in the corresponding period of fiscal 2017-18.

9: 36 am: YES Bank (2.19%), PowerGrid (1.26 %) and Tata Motors (1.12%) were the top Sensex gainers.

9:34 am: Top Sensex losers were ONGC (0.24%), Sun Pharma (0.12%) and Reliance Industries (0.10%).

9:32 am:  On Monday, Sensex closed 0.93% or 362 points lower at 38,600 and Nifty lost 0.97% or 114 points to 11,598.

9: 30 am : Mid cap and small cap indices were trading 52.05 points and 48.08 points higher in early trade.

9: 25 am: Market breadth was positive with 639 stocks trading higher compared to 298 falling on the BSE.

9: 20 am: Consumer durables and banking stocks led the gains with their indices rising 193 points and 155 points, respectively.

9: 17 am: Sensex rallied over 170 points to 38,772 in early trade, Nifty climbed 48 points to 11,645

9:10 am : On a net basis, foreign portfolio investors (FPIs) sold shares worth a net of Rs 948 crore on Monday , and domestic institutional investors (DIIs) were net sellers to the tune of Rs 89.89 crore, provisional data available with BSE showed.

9: 00 am: Rupee opens at 69.38 per dollar from its last close of 69.42.