Markets plunge ahead of GDP data; Sensex down over 100 points
Domestic market plunged ahead of GDP estimates. At 1515 hours Sensex was trading at 26,764.51, down 113.73 points, or 0.42%, while Nifty was at 8,239.80, down 34 points, or 0.41%.
India's gross domestic product likely to hit by demonetisation. Ministry of Statistics will announce the forecast today at 5:30 pm.
Shares of Oil India jumped over 2% after the company announced the issue of bonus shares in the proportion of 1 new equity bonus share of Rs 10 each for every 3 existing fully paid equity share of Rs 10 each held.
At 1327 hours. The shares of the company were trading at Rs 475.90 per piece, up 2.15%, or Rs 10 on BSE.
"It is hereby notified that the resolution for 'Issue of Bonus Shares' has been approved by the shareholders with requisite majority," the company said in a regulatory filing.
Shares of Wockhardt surged nearly 7% after the pharmaceutical company received an EU GMP Certificate from German regulator, reinstating the fact that the company's manufacturing facility at Ankaleshwar, Gujarat, complies with the principles and guidelines of the goods manufacturing practices.
At 1225 hours the shares of the company were trading at Rs 721.35 per piece, up 7.14%, or Rs 48.05 on BSE.
Rupee appreciated for the third-straight day by 15 paise to 67.81 against dollar during early trade today.
Forex dealers said besides selling of the American currency by exporters and banks, the falling fortunes of the dollar against others overseas gave the rupee an upperhand, a PTI report said.
Sensex opened at 26929.69 as against previous close at 26878.24. At 0918 hours, Sensex was trading at 26,955.42, up 77.18 points, or 0.28%.
While, NSE opened at 8,290.95 as against previous close at 8,273.80. At 0918 hours, Nifty was trading at 8,293.40, up 19.60 points, or 0.24%.
Sensex on Thursday ended up at 26878.24, up 245.11 points or 0.9% and Nifty closed at at 8273.80, up 83.30 points or 1%.
The IT shares will be in focus after a bill backing key changes in the H1-B programme that allows skilled workers from countries like India to fill high-tech jobs in the US has been re-introduced in the US Congress by two lawmakers who claim that it will help crack down on the work visa abuse.
Infosys, HCL Tech and Tata Consultancy Services dropped around 1-2% in yesterday's trade.
Shares of Toyota Motor Corp fell more than 3% on Friday after US President-elect Donald Trump threatened to impose heavy taxes on the automaker if it builds its Corolla cars for the US market at a plant in Mexico, a Reuters report said.
Toyota dropped as much as 3.1% to 6,830 yen ($59.06) in early trade before paring losses, after Trump`s tweet on Thursday - "Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for US NO WAY! Build plant in US or pay big border tax."