Live: Sensex closes 100 pts down, HUL sizzles

3.30 p.m: Sensex closed the near the day's low, down 100 points at 17,705 while Nifty closed the day at 5326, down 34 points. Second session of the day was affected by a weak European market, which is currently trading 1.5 percent lower.

Market would have closed lower, but for a strong performance by HUL and banks in their second quarter numbers. The companysurprised the market by posting a net profit of Rs 689 crore against estimates of Rs 590 crore. As a result the stock closed 6.7 percent higher at Rs 374.60.

ICICI Bankposted better than expected numbers. Against an expected net profit of Rs 1443 crore the bank posted a net profit of Rs 1,503. The stock however, closed marginally lower at Rs 931, down 0.25 percent.

Other public sector banks like Bank of Baroda, IOB, UCO all positively surprised the market by posting a better set of numbers, resulting in banking index moving 0.7 percent higher.

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BPCL as expected posted a huge loss on account of under recovery. The stock closed the day 2.2 percent lower at Rs 623.

Maruti closed the day higher, despite posting a 60 percent lower profit. The stock closed the day at Rs 1126, up 0.18 percent.

Bata India, posted a 30 percent growth in its bottomline from Rs 207 crore to Rs 304 crore. The stock closed the day at Rs 723, up 1.8 percent.

Wipro posted its results in line with market expectation. The stock closed the day at Rs 367.50 down 1.87 percent.

Sensex down 100 pts, HUL up 7.5%

3.00 p.m: Sensex trades 104 points lower at 17,700 while Nifty is down 34 points at 5326 as European trades 1.5 percent lower.

HUL, which announced a much better set of number than market expectation has touched a new high with the stock rising 7.58 percent at Rs 377.

ICICI Bank trades 0.35 percent lower at Rs 931, despite the bank beating market estimates.

Hindalco is the top loser among frontline stocks, falling by 4.5 percent at Rs 136.

HUL touches all-time high on results

2.00 p.m: HUL has surprised the market by posting a net profit of Rs 689 crore against estimates of Rs 590 crore.

The stock has shot up by 5.6 percent to Rs 371.

Net sales of the company stood at Rs 5522 crore versus Rs 4680 crore in the second half of previous quarter.

Volume growth for the company was at 9.8 percent.

Meanwhile, European markets trade nearly 1 percent lower.

ICICI Bank, which announced a better than expected number is trading at Rs 931 down by 0.18 percent.

ICICI profit at Rs 1503 cr v/s estimates of Rs 1443 cr

1.15 p.m: ICICI Bank has posted better than expected numbers. Against an expected net profit of Rs 1443 crore the bank posted a net profit of Rs 1,503.

Net interest income was at Rs 2506 crore versus Rs 2204 crore in the second quarter of previous year.

NPAs have come down from 1.03 percent to 0.94 percent.

The stock trades 1.6 percent higher at Rs 949.50

Banks pull market higher

12.45 p.m: A series of public sector results has seen some volatility in the markets.

Bank of Baroda announced a better than expected profit numbers, which has helped the stock trade nearly 5 percent higher at Rs 775.25.

UCO Bank, which has also number, much above market expectation is trading nearly 6 percent higher at Rs 75.10.

Banking index is the top gainer for the day, rising by nearly 0.9 percent, followed by IT sector, which has been bouyed byWipro's number.Wipro currently trades 1.55 percent higher at Rs 379.50.

Century Textile is trading 3.6 percent lower at Rs 313 as the company's numbers were below market expectation.

Essar Ports has been trading at the upper circuit of 20 percent at Rs 80.40 on upgrades by a foreign broking firm.

European markets which are expected to open at 1.30 p.m. IST on account of winter, will give further direction to the market.

Suzlon's bonds trade at two year high

11.30 a.m: Yields on bonds of Suzlon Energy surged to a two year high, signalling investor's doubt over demand in Europe, its biggest market, says a report in Bloomberg. The yield on its zero coupon convertible debt has surged 197 basis points in October, to 26 percent a rise for the third successive month. The stock trades 0.4 percent higher at Rs 38.65.

Meanwhile, markets are trading in a narrow range with Sensex down 72 points at 17,732 while Nifty is down by 27 points at 5333.

Tata Motors continue to slide and currently trades at Rs 199.60, down 3.5 percent.

Sensex down 100 pts, Glaxo to move jobs out of India

10.45 a.m: Markets continue to move in a narrow range, with Sensex trading at 17,708 down by 96 points while Nifty trades 38 points lower at 5323.

Wiprohas moved up after the company announced its results, the stock trades 2.26 percent higher at Rs 382.5

Glaxo India is the biggest loser among frontline stocks falling by 3.4 percent as the company is planning to move back jobs to the UK, after a change in tax regime in its country of origin. A report in thisismoney.co.uksays that this will be the first manufacturing capacity by Glaxo in UK after 30 years. The stock has fallen to Rs 2048.

Maruti in an analyst conference call says there is little room for price hike in the current scenario. The stock is trading 2.5 percent lower at Rs 1097.

Lackluster start to week; Sensex 70 points down

10.00 a.m: Indian markets have slipped further in line with other Asian markets. Sensex trades 89 points lower at 17,715 while Nifty trades 34 points lower at 5328.

Tata Motors is the biggest loser among top traded stocks falling by 3 percent at Rs 200.75.

Reliance trades 1.25 percent lower at Rs 888.75, while Maruti is down by 2.31 percent at Rs 1100.

Wipro continues to remain at Rs 381 after the company posted a better than expected performance.

Eros Media trades 1 percent lower at Rs 259, despite the company saying that it has collected a record Rs 170 crore over the weekend after release of Ra.one.

Lackluster start to week; Sensex 70 points down

9.15 a.m: Markets have opened marginally lower, though it can be a lackluster first half, till the European markets open. Asian markets are trading marginally lower, reflecting the dull closing of the US and European markets over the weekend.

BSE Sensex currently trades 70 points lower at 17,736 while NSE Nifty is trading 28 points lower at 5332.

Wipro has posted its results marginally higher than market expectation. The stock can see a stronger opening, however, a weak outlook for the future can see some pressure on the stock. The stock trades 1.8 percent at Rs 380.5.

[caption id="attachment_119341" align="alignleft" width="380" caption="Maruti is expected to see some selling pressure as the company posted a poor set of numbers for the second quarter. Reuters"][/caption]

Banking stocks can see some pressure as various banks have been making announcement of raising saving bank interest rates after the central bank announced a de-regulation of saving rates in its credit policy. Kotak Mahindra Bank, after Yes Bank has increased their savings rate to 6 percent.

Maruti is expected to see some selling pressure as the company posted a poor set of numbers for the second quarter, by its profit sliding sharply by 60 percent. The stock currently trades at Rs 1090 down 3.3 percent lower.

Reliance can see some volatility on news of the company planning to acquire Valero, a US based refining company. The stock trades 1.10 percent lower Rs 890.

Number of companies are going to announce their results, among them are Hindustan Unilever, ICICI Bank, Bata, whole lot of public sector banks and BPCL.