The Indian equity market are trading higher on positive Asian cues. The NSE Nifty50 index touched the 8,800 mark for the first time since April 15, 2015.
The stock market has extended gains for a third day led by gains in bank and pharma companies. The Sensex hit highest level in more than thirteen months. The Nifty hit highest level in more than sixteen months.
At 12:13 PM, the S&P BSE Sensex is trading at 28,405 up 62 points, while NSE Nifty is trading at 8,777 up 33 points.
The BSE Mid-cap Index is trading up 0.57% at 13,243 whereas BSE Small-cap Index is trading up 0.29% at 12,663.
Tata Motors, Hero MotoCorp, Dr.Reddy'sLupin, L&T and Bajaj Auto are among the gainers, whereas ONGC, NTPC, TCS, Tata Steel, Coal India and RIL are losing sheen on BSE.
Some buying activity is seen in auto, industrial, banking, consumer durables, capital goods, telecom and pharma sectors, while IT, utilities, power, metal and energy sector are showing weakness on BSE.
The INDIA VIX is up 1.55% at 13.2225. Out of 1,857 stocks traded on the NSE, 695 declined, 846 advanced and 316 remained unchanged today.
A total of 65 stocks registered a fresh 52-week high in trades today, while 15 stocks touched a new 52-week low on the NSE.
The rupee opened marginally lower by 5 paise at 67.08/$ against US Dollar Wednesday as against the previous close of 67.02/$.
RBL Bank made a stellar debut in markets with the stock surging nearly 36% to Rs.305.50 against its issue price of Rs.225.
Kotak Mahindra Bank gained 2% to Rs.800. The bank said the Reserve Bank had granted approval to Canada Pension Plan Investment Board to buy stake in excess of 5% and up to 5% in the bank.
UltraTech Cement soared 4%. The Reserve Bank of India has notified that Foreign Institutional Investors/Registered Foreign Portfolios Investors can now invest up to 30% of the paid up capital of Ultra Tech Cement Limited under the Portfolio Investment Scheme (PIS).
Tata Motors jumped 3% to Rs.544.10. The company is planning to reduce the number of platforms used in manufacturing passenger vehicles and increase platform sharing to drive down costs, as per media reports.
Hindustan Copper climbed 2.8% to Rs.67.10 after the company has executed a Joint Venture Agreement with Chhattisgarh Mineral Development Corporation Ltd, for exploration, mining and beneficiation of copper and its associated minerals in the state of Chhattisgarh.
Cox & Kings Ltd is currently trading at Rs. 187.9, down by Rs. 5.4 or 2.79% from its previous closing of Rs. 193.3 on the BSE. The tour and travel company posted 24% dip in consolidated net profit to Rs.108.07 crore for the first quarter ended June 30, 2016-17 as compared to Rs.141.60 crore for the corresponding period of the previous fiscal.
Mahanagar Telephone Nigam Ltd soared 4.4% to Rs. The company will launch Wi-Fi Hotspot in Delhi, Mumbai in partnership with Private firm, as per media reports.
Housing Development Finance Corporation Ltd is currently trading at Rs. 1403, up by Rs. 10.7 or 0.77% from its previous closing of Rs. 1392.3 on the BSE. Housing Development Finance Corporation Ltd has informed BSE that pursuant to the approval of the Board of Directors of the Corporation at its meetings held previously, the Corporation is contemplating, subject to market conditions, undertaking an issuance of Rupee Denominated Bonds to overseas investors.
IDBI Bank Ltd is currently trading at Rs. 73.25, up by Rs. 0.85 or 1.17% from its previous closing of Rs. 72.4 on the BSE. The bank has raised capital of Rs.1,500 crore through Basel III compliant Additional Tier-1 (AT1) bonds. The issue opened and closed on August 30, 2016. This is the first AT1 bond issuance by the Bank during FY 2016-17.
Bharat Petroleum Corporation Ltd is currently trading at Rs. 601.3, down by Rs. 6.05 or 1% from its previous closing of Rs. 607.35 on the BSE. The oil company will announce its Q1 numbers today.
Asian markets opened mixed. Nikkei 225 gained 0.78%, while Hang Seng and Shanghai Composite are trading in red.
Wall Street closed lower. The Dow Jones industrial average fell 0.26% to 18,454.3, the S&P 500 lost 0.2% to 2,176.12 and the Nasdaq Composite dropped 0.18% to 5,222.99. US consumer confidence rose to an 11-month high in August, with households more upbeat about the labor market. Payrolls data on Friday could strengthen the case for higher US interest rates, as has been hinted over the past week by Federal Reserve officials.
Arun Jaitley said that Indo-US trade will get a boost due to business to business, business to Government and Government to Government interaction between the two countries. The Finance Minister said that foreign investment is important for India in order to have larger investment in infrastructure sector.
On the economy front, investors are also cautious ahead of the GDP data for the June quarter and fiscal deficit data for July on 31 August.
The inter-ministerial body Foreign Investment Promotion Board has approved six foreign investment proposals worth Rs 105 crore. The FIPB meeting chaired by Economic Affairs Secretary Shaktikanta Das approved proposal of Ceva Sante Animale of Rs.88 crore.
The stock market has extended gains for a third day led by gains in bank and pharma companies. The Sensex hit highest level in more than thirteen months. The Nifty hit highest level in more than sixteen months.
At 12:13 PM, the S&P BSE Sensex is trading at 28,405 up 62 points, while NSE Nifty is trading at 8,777 up 33 points.
The BSE Mid-cap Index is trading up 0.57% at 13,243 whereas BSE Small-cap Index is trading up 0.29% at 12,663.
Tata Motors, Hero MotoCorp, Dr.Reddy'sLupin, L&T and Bajaj Auto are among the gainers, whereas ONGC, NTPC, TCS, Tata Steel, Coal India and RIL are losing sheen on BSE.
Some buying activity is seen in auto, industrial, banking, consumer durables, capital goods, telecom and pharma sectors, while IT, utilities, power, metal and energy sector are showing weakness on BSE.
The INDIA VIX is up 1.55% at 13.2225. Out of 1,857 stocks traded on the NSE, 695 declined, 846 advanced and 316 remained unchanged today.
A total of 65 stocks registered a fresh 52-week high in trades today, while 15 stocks touched a new 52-week low on the NSE.
The rupee opened marginally lower by 5 paise at 67.08/$ against US Dollar Wednesday as against the previous close of 67.02/$.
RBL Bank made a stellar debut in markets with the stock surging nearly 36% to Rs.305.50 against its issue price of Rs.225.
Kotak Mahindra Bank gained 2% to Rs.800. The bank said the Reserve Bank had granted approval to Canada Pension Plan Investment Board to buy stake in excess of 5% and up to 5% in the bank.
UltraTech Cement soared 4%. The Reserve Bank of India has notified that Foreign Institutional Investors/Registered Foreign Portfolios Investors can now invest up to 30% of the paid up capital of Ultra Tech Cement Limited under the Portfolio Investment Scheme (PIS).
Tata Motors jumped 3% to Rs.544.10. The company is planning to reduce the number of platforms used in manufacturing passenger vehicles and increase platform sharing to drive down costs, as per media reports.
Hindustan Copper climbed 2.8% to Rs.67.10 after the company has executed a Joint Venture Agreement with Chhattisgarh Mineral Development Corporation Ltd, for exploration, mining and beneficiation of copper and its associated minerals in the state of Chhattisgarh.
Cox & Kings Ltd is currently trading at Rs. 187.9, down by Rs. 5.4 or 2.79% from its previous closing of Rs. 193.3 on the BSE. The tour and travel company posted 24% dip in consolidated net profit to Rs.108.07 crore for the first quarter ended June 30, 2016-17 as compared to Rs.141.60 crore for the corresponding period of the previous fiscal.
Mahanagar Telephone Nigam Ltd soared 4.4% to Rs. The company will launch Wi-Fi Hotspot in Delhi, Mumbai in partnership with Private firm, as per media reports.
Housing Development Finance Corporation Ltd is currently trading at Rs. 1403, up by Rs. 10.7 or 0.77% from its previous closing of Rs. 1392.3 on the BSE. Housing Development Finance Corporation Ltd has informed BSE that pursuant to the approval of the Board of Directors of the Corporation at its meetings held previously, the Corporation is contemplating, subject to market conditions, undertaking an issuance of Rupee Denominated Bonds to overseas investors.
IDBI Bank Ltd is currently trading at Rs. 73.25, up by Rs. 0.85 or 1.17% from its previous closing of Rs. 72.4 on the BSE. The bank has raised capital of Rs.1,500 crore through Basel III compliant Additional Tier-1 (AT1) bonds. The issue opened and closed on August 30, 2016. This is the first AT1 bond issuance by the Bank during FY 2016-17.
Bharat Petroleum Corporation Ltd is currently trading at Rs. 601.3, down by Rs. 6.05 or 1% from its previous closing of Rs. 607.35 on the BSE. The oil company will announce its Q1 numbers today.
Asian markets opened mixed. Nikkei 225 gained 0.78%, while Hang Seng and Shanghai Composite are trading in red.
Wall Street closed lower. The Dow Jones industrial average fell 0.26% to 18,454.3, the S&P 500 lost 0.2% to 2,176.12 and the Nasdaq Composite dropped 0.18% to 5,222.99. US consumer confidence rose to an 11-month high in August, with households more upbeat about the labor market. Payrolls data on Friday could strengthen the case for higher US interest rates, as has been hinted over the past week by Federal Reserve officials.
Arun Jaitley said that Indo-US trade will get a boost due to business to business, business to Government and Government to Government interaction between the two countries. The Finance Minister said that foreign investment is important for India in order to have larger investment in infrastructure sector.
On the economy front, investors are also cautious ahead of the GDP data for the June quarter and fiscal deficit data for July on 31 August.
The inter-ministerial body Foreign Investment Promotion Board has approved six foreign investment proposals worth Rs 105 crore. The FIPB meeting chaired by Economic Affairs Secretary Shaktikanta Das approved proposal of Ceva Sante Animale of Rs.88 crore.
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