The BSE Mid-cap Index is trading up 1.74% at 9,741, whereas BSE Small-cap Index is trading up 1.92% at 9,732. ITC, ICICI Bank, Axis Bank, Infosys, Wipro, Tata Motors and Adani Ports are among the gainers, whereas Bharti Airtel, ONGC, HUL, Dr.Reddy's, HDFC and Cipla are losing sheen on BSE
The BSE Mid-cap Index is trading up 1.74% at 9,741, whereas BSE Small-cap Index is trading up 1.92% at 9,732.
ITC, ICICI Bank, Axis Bank, Infosys, Wipro, Tata Motors and Adani Ports are among the gainers, whereas Bharti Airtel, ONGC, HUL, Dr.Reddy's, HDFC and Cipla are losing sheen on BSE.
Some buying activity is seen in FMCG, IT, banking, auto, realty, power and utilities sectors on BSE.
The INDIA VIX is down 6.42% at 18.8625. Out of 1,785 stocks traded on the NSE, 228 declined, 1,253 advanced and 304 remained unchanged today.
A total of eight stocks registered a fresh 52-week high in trades today, while 46 stocks touched a new 52-week low on the NSE.
The Indian rupee opened higher by 17 paisa at 68.26/$ on Tuesday as against previous close of 68.43/$. On Monday, rupee rebounded strongly against the greenback, influenced by the optimism emanating from the Union Budget for FY2016‐17. In international markets, US dollar strengthened against Euro after Eurozone inflation numbers revealed no inflationary pressure. February CPI fell 0.2% on yoy basis, while core CPI was up by only 0.7%, well below estimates.
ITC jumped 8% to Rs.319 on BSE. FM Arun Jailtey announcement to hike excise duty on most tobacco products by 10-15%. According to media reports, the brokerage upgraded the stock to 'buy' as the hike in excise duty was less than expected.
Axis Bank climbed 3.2% to Rs.387.10 on BSE. The bank has informed BSE that on February 29, 2016, the Bank has purchased 9,57,48,762 shares of face value of Rs. 10/- each, or 4.99% equity stake, in Max Life Insurance Company Limited ("MLIC") from Max Financial Services Limited ("MFSL"), formerly known as Max India Limited, and Mitsui Sumitomo Insurance Company Limited ("MSI") for a total cash consideration at par (Rs. 10/- per share) of Rs. 95.75 crores.
BEML soared 2.3% to Rs.971 on BSE. The company has bagged the prestigious order valued at Rs. 900 crore for the supply of Metro Coaches to Kolkata East-West Metro Line.
IDBI Bank zoomed 2.6% to Rs.59.95 on BSE. The stock has rallied for the second consecutive session after the Union Finance Minister said in his Budget 2016 speech that the government has kept the option open for reducing its stake in the bank to below 50%.
Dhunseri Petrochem rallied 3% to Rs.74.80 after it signed a 50:50 joint venture partnership with Thailand based Indorama Ventures Public Company Limited to manufacture and sell PET resins for Indian domestic markets and for exports.
Vedanta zoomed 2.7% to Rs.72.80. The company has informed BSE that the Baghmara Gold block in the State of Chhattisgarh (6.08 sq.km) was put on auction as composite licence (Prospecting License cum Mining Lease). The Company (Vedanta Limited) participated in the forward auction on February 26, 2016 after being technically qualified in an e-auction has been declared as the successful bidder for Gold Mines at royalty @12.55% of value of mineral despatched. The winning bidder has to submit a performance bank guarantee of Rs 1.60 crores and invest in exploration. The block requires extensive exploration and the process will commence in due course.
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