Some buying activity is seen in pharma, metal, fmcg, IT and oil & gas sectors, while banking and capital goods sectors are showing weakness on BSE.
The market after starting the day on a positive note - with the BSE Sensex up 48-odd points at 27,852 and the NSE Nifty up 18 points at 8,399, soon slipped a wee bit into red on the back of profit-taking in PSU Bank, finance, bank nifty and auto indices.
At 9:32 AM, the S&P BSE Sensex is trading at 27,835 up 30 points, while NSE Nifty is trading at 8,391 up mere nine points.
The BSE Mid-cap Index is trading up 0.45% at 10,699, whereas BSE Small-cap Index is trading up 0.31% at 11,180.
Some buying activity is seen in pharma, metal, fmcg, IT and oil & gas sectors, while banking and capital goods sectors are showing weakness on BSE.
ONGC, HUL, Coal India, Lupin, Sun Pharma, NTPC and Bhel are among the gainers, whereas Maruti Suzuki, Bajaj- Auto, SBI, TCS, HDFC and Axis Bank are losing sheen on BSE.
Asian market is in the green for now. China’s Shanghai index is up over a percent after some choppiness on Tuesday. The HSBC/Markit Flash China Manufacturing Purchasing Managers’ Index (PMI) edged up to 49.6, a three-month high, from 49.2, but remained below the 50 mark which separates contraction from expansion.
The Securities & Exchange Board of India announced relaxed listing norms on Tuesday aimed at encouraging the booming startup industry to tap the local market, thus opening up investor access to the dramatic growth opportunities offered by such firms. Sebi has also made the Application Supported by Blocked Amount (Asba) system mandatory for retail investors. Asba ensures the money needed to pay for shares will remain in the buyer's account until these are allotted.
Sebi board also approved re-classification of promoters as public shareholders under certain circumstances. This includes the new promoter replacing the previous one following an open offer or any other business recast such as an M&A. Stocks like Infosys could be a beneficiary, reports state.
Manpasand Beverages has finalized the allocation of 5,625,000 equity shares at Rs. 320 per equity share (upper end of the Price Band) aggregating to Rs. 180 crore (45% of the total Issue size of Rs. 400 crore) to 11 anchor investors. These include Goldman Sachs, Birla Sun Life Insurance, ICICI Prudential MF, Morgan Stanley, Bharti AXA Life, SBI MF, UTI MF, BNP Paribas, Shinhan BNPP, Amundi Funds & Ashoka Pte.
Among sectors, the CNX Pharma and Metal indices have advanced nearly a percent each at 12,003 and 2,342, respectively.
The FMCG, IT and Energy indices are the other notable gainers.
The PSU Bank index is the only loser, down 0.4 percent at 3,325.
In the Nifty space - UltraTech Cement has jumped almost 2 percent at Rs. 2,953. Lupin, NMDC, Idea Cellular, Zee Entertainment, Hindustan Unilever and Grasim Industries have also spurted a percent each.
On the losing side, Asian Paints has slipped 1.5 percent at Rs. 741. Tech Mahindra has shed over a percent at Rs. 547.
SBI, Punjab National Bank and HDFC have shed almost a percent each.
At 9:32 AM, the S&P BSE Sensex is trading at 27,835 up 30 points, while NSE Nifty is trading at 8,391 up mere nine points.
The BSE Mid-cap Index is trading up 0.45% at 10,699, whereas BSE Small-cap Index is trading up 0.31% at 11,180.
Some buying activity is seen in pharma, metal, fmcg, IT and oil & gas sectors, while banking and capital goods sectors are showing weakness on BSE.
ONGC, HUL, Coal India, Lupin, Sun Pharma, NTPC and Bhel are among the gainers, whereas Maruti Suzuki, Bajaj- Auto, SBI, TCS, HDFC and Axis Bank are losing sheen on BSE.
Asian market is in the green for now. China’s Shanghai index is up over a percent after some choppiness on Tuesday. The HSBC/Markit Flash China Manufacturing Purchasing Managers’ Index (PMI) edged up to 49.6, a three-month high, from 49.2, but remained below the 50 mark which separates contraction from expansion.
The Securities & Exchange Board of India announced relaxed listing norms on Tuesday aimed at encouraging the booming startup industry to tap the local market, thus opening up investor access to the dramatic growth opportunities offered by such firms. Sebi has also made the Application Supported by Blocked Amount (Asba) system mandatory for retail investors. Asba ensures the money needed to pay for shares will remain in the buyer's account until these are allotted.
Sebi board also approved re-classification of promoters as public shareholders under certain circumstances. This includes the new promoter replacing the previous one following an open offer or any other business recast such as an M&A. Stocks like Infosys could be a beneficiary, reports state.
Manpasand Beverages has finalized the allocation of 5,625,000 equity shares at Rs. 320 per equity share (upper end of the Price Band) aggregating to Rs. 180 crore (45% of the total Issue size of Rs. 400 crore) to 11 anchor investors. These include Goldman Sachs, Birla Sun Life Insurance, ICICI Prudential MF, Morgan Stanley, Bharti AXA Life, SBI MF, UTI MF, BNP Paribas, Shinhan BNPP, Amundi Funds & Ashoka Pte.
Among sectors, the CNX Pharma and Metal indices have advanced nearly a percent each at 12,003 and 2,342, respectively.
The FMCG, IT and Energy indices are the other notable gainers.
The PSU Bank index is the only loser, down 0.4 percent at 3,325.
In the Nifty space - UltraTech Cement has jumped almost 2 percent at Rs. 2,953. Lupin, NMDC, Idea Cellular, Zee Entertainment, Hindustan Unilever and Grasim Industries have also spurted a percent each.
On the losing side, Asian Paints has slipped 1.5 percent at Rs. 741. Tech Mahindra has shed over a percent at Rs. 547.
SBI, Punjab National Bank and HDFC have shed almost a percent each.
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