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Sensex, Nifty volatile; oil stocks fall on custom duty fear

Feb 16, 2015, 03.09 PM IST | Source: Moneycontrol.com

M&M, ITC, HDFC, Bharti Airtel and TCS are top gainers in the Sensex. Among the losers are Sun Pharma, Hero, Reliance, ICICI Bank and Axis Bank.

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Sensex, Nifty volatile; oil stocks fall on custom duty fear

M&M, ITC, HDFC, Bharti Airtel and TCS are top gainers in the Sensex. Among the losers are Sun Pharma, Hero, Reliance, ICICI Bank and Axis Bank.

14:00

The News International Team

3:00 pm Fund raising: Private sector lender Yes Bank today said it will be raising Rs 500 crore through issuance of “green infrastructure bonds”, which will be deployed to fund renewable energy and energy efficiency projects.

The bank claimed it is the first such issue in the country and the money will be used to fund solar power, wind power, biomass, and small hydel projects. The bond will have a tenor of ten years, it said in a statement, adding the issue has already been launched.

The city-headquartered lender said it had made a commitment to fund 5,000 MW of renewable energy projects during the recent summit organised by the Government and added the proceeds from the issue will be used to fund the same.

2:30 pm New patent: Pharmaceutical firm Suven Life Sciences has been granted one patent each by Australia, Canada, Japan and New Zealand for its drug used in treatment of neurodegenerative diseases. “Secured patents in Australia, Canada, Japan and New Zealand to one of their New Chemical Entity (NCE) for CNS therapy through new mechanism of action H3 Inverse agonist,” the company said in a BSE filing. These patents are valid until 2030, it added.

Neurodegenerative diseases include Alzheimer’s disease, Schizophrenia and Parkinson’s disease. The granted claims of the patent include the class of selective H3 ligands discovered by Suven and are useful in treatment of cognitive impairment associated with neurodegenerative disorders, the statement said.

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The Sensex is up 128.85 points at 29223.78 and the Nifty is up 31.55 points at 8837.05. About 1287 shares have advanced, 1477 shares declined and 212 shares are unchanged.

M&M, ITC, HDFC, Bharti Airtel and TCS are top gainers in the Sensex. Among the losers are Sun Pharma, Hero, Reliance, ICICI Bank and Axis Bank.

Oil stocks are down as Finance Minister Arun Jaitley may look at re-imposing 5 percent customs duty on crude oil imports to shore up revenues by USD 3 billion and create a level-playing field for domestic producers.

Presently, the government does not levy any import or customs duty on crude oil imports. On the other hand, domestically produced crude oil attracts two percent central sales tax, something which imported oil is exempted from.

Gold extended gains to a third session, bolstered by safe-haven bids amid a softer dollar and jitters ahead of negotiations regarding Greece’s future in the euro zone.
Traders were eyeing a meeting of euro zone finance ministers in Brussels later on Monday to find common ground with Greece’s new government, elected on a pledge to scrap the austerity strictures of Greece’s international bailouts.
If the meeting produces no results, there is a concern that Greece will be headed for a credit crunch that would force it out of the euro zone.

 

13:16

Sensex, Nifty flat; Hero, ICICI Bank, Infosys drag 1-2%

M&M, Bharti Airtel, ITC, HUL and Tata Steel are top gainers in the Sensex. Among the losers are Sun Pharma, Hero Motocorp, ICICI Bank, Axis Bank and Infosys.

Read More »

12:11

Nifty below 8850, Jan WPI inflation at -0.39%; ITC up 2%Read More »

HUL, Bharti, Tata Motors, ITC and Dr Reddy’s Labs are top gainers while Sun Pharma, Hero, Axis Bank and ICICI Bank are losers.

Read More »

11:00

Sensex, Nifty extend gains; auto, bank, FMCG lend supportRead More »

HUL, Tata Motors, Bharti Airtel, Sesa Sterlite and Dr Reddy’s Labs are top gainers in the Sensex. Among the losers are Sun Pharma, BHEL, Hero Motocorp, L&T and GAIL.

Read More »

10:00

Sensex gains over 200 pts; HUL, Tata Motors jump 2-3%Read More »

Tata Motors, Bharti Airtel, Sesa Sterlite, HUL and Coal India are top gainers in the Senssex. Among the losers are Sun Pharma, BHEL, L&T, NTPC and Infosys.

Read More »

09:15

Nifty hits 8850; Hindalco & SBI gain, Sun Pharma falls 2%Read More »

Hindalco is up 3 percent while Sesa Sterlite, HDFC Bank, SBI and ICICI Bank are top gainers in the Sensex. Among the losers are Sun Pharma, Hero Motocorp, ONGC, Bharti Airtel and HUL.

Read More »

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