Indices Down 0.5%, Jet Air Soars On Investment Buzz

The Indian markets fell by nearly 0.5% after the Lok Sabha was adjourned till Monday following the uproar raised by the opposition over the FDI issue.

Most  of the Asian indices are trading in the green due to improvement in the global manufacturing scenario. The Chinese stocks have rebounded from yesterday’s drop and Hang Seng is also up by 0.7%. The Japanese Nikkei is closed today to mark Labor Thanksgiving day.

In the Indian markets, only the CD and Auto indices are showing some gains as of now. Power and Oil & Gas are flat in their trades, while all the other indices are showing intraday losses. The Realty index is the top loser at this hour, down by 0.88%.

Among the Sensex stocks, Hero MotoCorp is up 1.2%. State-owned Capital Goods major BHEL is also up by 1.08%. In the Pharma space, Sun Pharma and Dr. Reddy’s Labs are in gains, while Cipla is down in the red. The shares of RIL are also in gains. GAIL India (-1.93%), Sterlite Industries (-1.44%), ITC (-1.32%), HDFC Bank (-1.19%), Wipro (-1.11%) and Bharti Airtel (-1.10%) were among the major losers on the index.

In other shares, Hindustan Copper tanked over 17% as the market sees the floor price of Rs 155 at a huge discount. The government is disinvesting 4% stake in the company today.

The shares of Ranbaxy tanked over 3% after the company said that it is voluntarily recalling some batches of its version of Atorvastatin.

Bajaj Finance is trading with 2.5% gains after it announced that it will come out with a rights issue.

Jet Air has surged by 14% on the news that a Hong Kong-based brokerage and investment company has turned buyer at the counter.

The advance-decline ratio on BSE indicates bearishness in the market.