Tata Steel, Vedanta, Sun Pharma, Lupin and Indiabulls Housing were under pressure. BHEL gave up yesterday's gains, down nearly 3 percent.
10:56 am BHEL Corrects: State-run power equipment maker BHEL fell 3 percent as analysts retained their negative stance on the company despite bullet train contract.
"We have been negative on BHEL. We don’t see significant uptick in power segment," Sanjeev Zarbade, analyst at Kotak Securities said in an interview to CNBC-TV18.
He expects Rs 3,000 crore worth of ordering in FY20-22 for BHEL.
"We have been negative on BHEL. We don’t see significant uptick in power segment," Sanjeev Zarbade, analyst at Kotak Securities said in an interview to CNBC-TV18.
He expects Rs 3,000 crore worth of ordering in FY20-22 for BHEL.
According to him, bullet train is a very minor opportunity for the company and he doesn't see bullet train as a re-rating trigger.
10:45 am Advance tax: Sources told CNBC-TV18 that private sector lender Yes Bank is likely to have paid advance tax of Rs 590 crore for the quarter ended September 2017.
In September quarter 2016, it had paid advance tax of Rs 435 crore.
10:40 am Management Interview: As spot prices of power zoomed to over Rs 9 per unit on September 12, the entire power sector along with stocks like PTC India were in focus. The merchant power went up to Rs 3-4 per unit.
Deepak Amitabh, CMD, PTC India said there has been an imbalance in demand and supply of power that led to tariff movement.
The reason for fall in supply was due to various factors, said Amitabh.
One was due to temporary shutdown of 1000 MW of thermal power plant due to technical issue leading to non-supply of power in bilateral or the exchange market. Two, was lack of rain in the central states for eg Madhya Pradesh which uses 5000 MW of hydro power plant during monsoon and thermal plants on shutdown but since lack of rains, their hydro plants were not running to full capacity and therefore thermal plants were utilisied and so demand for power rose, he said.
However, according to him, average merchant power of Rs 3-4 per unit of power rate is sustainable but not beyond that and it should ease out.
10:20 am Market Check: Equity benchmarks as well as broader markets continued to fall in morning as fresh missile launch by North Korea weighed.
The 30-share BSE Sensex was down 45.66 points at 32196.27 and the 50-share NSE Nifty fell 24 points to 10,062.60.
The BSE Midcap and Smallcap indices underperformed benchmarks, falling over half a percent on weak breadth. About two shares declined for every share rising on the BSE.
10:05 am FII View: A sense of nervousness is existing in the Asian markets today after North Korea fired yet another missile over Japan.
Something like this should make global markets very concerned, Seth Freeman of EM Capital Management said in an interview to CNBC-TV18.
On Indian markets, he said that if you are a trader then there are still opportunities to invest. Indian market and Indian economy is finally at relatively stable upward trajectory point, he added.
Ken Peng, Asia Pacific Investment Strategist at Citi Private Bank said that the latest developments from North Korea will be a headline risk for quite some time to come.
The market is getting used to the launches of missiles by North Korea and more and more investors understand that there is an insurmountable risk for any military action, he added.
10:45 am Advance tax: Sources told CNBC-TV18 that private sector lender Yes Bank is likely to have paid advance tax of Rs 590 crore for the quarter ended September 2017.
In September quarter 2016, it had paid advance tax of Rs 435 crore.
10:40 am Management Interview: As spot prices of power zoomed to over Rs 9 per unit on September 12, the entire power sector along with stocks like PTC India were in focus. The merchant power went up to Rs 3-4 per unit.
Deepak Amitabh, CMD, PTC India said there has been an imbalance in demand and supply of power that led to tariff movement.
The reason for fall in supply was due to various factors, said Amitabh.
One was due to temporary shutdown of 1000 MW of thermal power plant due to technical issue leading to non-supply of power in bilateral or the exchange market. Two, was lack of rain in the central states for eg Madhya Pradesh which uses 5000 MW of hydro power plant during monsoon and thermal plants on shutdown but since lack of rains, their hydro plants were not running to full capacity and therefore thermal plants were utilisied and so demand for power rose, he said.
However, according to him, average merchant power of Rs 3-4 per unit of power rate is sustainable but not beyond that and it should ease out.
10:20 am Market Check: Equity benchmarks as well as broader markets continued to fall in morning as fresh missile launch by North Korea weighed.
The 30-share BSE Sensex was down 45.66 points at 32196.27 and the 50-share NSE Nifty fell 24 points to 10,062.60.
The BSE Midcap and Smallcap indices underperformed benchmarks, falling over half a percent on weak breadth. About two shares declined for every share rising on the BSE.
10:05 am FII View: A sense of nervousness is existing in the Asian markets today after North Korea fired yet another missile over Japan.
Something like this should make global markets very concerned, Seth Freeman of EM Capital Management said in an interview to CNBC-TV18.
On Indian markets, he said that if you are a trader then there are still opportunities to invest. Indian market and Indian economy is finally at relatively stable upward trajectory point, he added.
Ken Peng, Asia Pacific Investment Strategist at Citi Private Bank said that the latest developments from North Korea will be a headline risk for quite some time to come.
The market is getting used to the launches of missiles by North Korea and more and more investors understand that there is an insurmountable risk for any military action, he added.
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