Live Stock Market Updates - Nifty settles above 8,650 mark

Closing Bell:

Finally, the BSE Sensex ended with a gain of 231 points at 28,090. The BSE Sensex opened at 27,919 touched an intra-day high of 28,151 and low of 27,901.

The NSE Nifty closed with a gain of 80 points at 8,672. The NSE Nifty opened at 8,605 hitting a high of 8,684 and low of 8,672.

All wholesale commodity markets, including bullion and metals, will remain closed on August 15 on account of Independence Day.

Live Market:

The Indian stock market opened higher tracking positive Asian shares. The BSE Sensex opened 60.35 points up at 27919.95, while Nifty 50 index opened 13.30 points up at 8605.45.

At 12:26 PM, the S&P BSE Sensex is trading at 28,091 up 232 points, while NSE Nifty is trading at 8,652 up 60 points.

The BSE Mid-cap Index is trading up 0.73% at 12,740 whereas BSE Small-cap Index is trading up 0.45% at 12,243.

Tata Motors, Axis Bank, RIL, Tata Steel and HDFC are among the gainers, whereas Cipla, Infosys, Asian Paints, Maruti Suzuki and Dr.Reddy’s are losing sheen on BSE.

Some buying activity is seen in metal, auto, industrial, capital goods, FMCG, banking, realty, power, finance and  telecom sectors, while realty, IT and teck showing weakness on BSE.

The INDIA VIX is down 3.07% at 13.7750. Out of 1,849 stocks traded on the NSE, 646 declined, 894 advanced and 309 remained unchanged today.

A total of 41 stocks registered a fresh 52-week high in trades today, while 23 stocks touched a new 52-week low on the NSE.

Asian markets are trading higher. The Nikkei 225 and Hong Kong's Hang Seng trading up by 0.74% each. Shanghai Composite is marginally up.

Wall Street closed higher. The S&P 500, the Dow and Nasdaq all closed higher on Thursday for the first time since 1999 on higher crude oil and upbeat corporate results. Oil prices rode the momentum from their overnight rally and extended gains. U.S. crude was up 0.5 percent at $43.73 a barrel, on track to gain nearly 5 percent on the week.

IRDAI has released a discussion paper on listing of Indian insurance firms. Irdai proposed that insurance firms having completed eight years of operations in case of general and reinsurance, and 10 years of operations in case of life insurance, can go for mandatory public listing.

On the economy front, CPI inflation for July and June IIP  will be announced today.

State Bank of India Q1 net profit at Rs.2,520 crore; Net NPA at 4.05%

State Bank of India has announced the following results for the quarter ended June 30, 2016

The Unaudited Standalone results for the Quarter ended June 30, 2016

The Bank has posted a net profit of Rs. 25209.60 million for the quarter ended June 30, 2016 as compared to Rs. 36924.30 million for the quarter ended June 30, 2015. Total Income has increased from Rs. 447308.70 million for the quarter ended June 30, 2015 to Rs. 489286.00 million for the quarter ended June 30, 2016.

The Consolidated Results are as follows:

The Unaudited Consolidated results for the Quarter ended June 30, 2016

The Group has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 10460.00 million for the quarter ended June 30, 2016 as compared to Rs. 47135.70 million for the quarter ended June 30, 2015. Total Income has increased from Rs. 631645.00 million for the quarter ended June 30, 2015 to Rs. 694148.20 million for the quarter ended June 30, 2016.

Live Stock Market Updates - Sensex rallies over 250 points; Nifty above 8650 mark

The Indian stock market opened higher tracking positive Asian shares. The BSE Sensex opened 60.35 points up at 27919.95, while Nifty 50 index opened 13.30 points up at 8605.45.

At 9:37 AM, the S&P BSE Sensex is trading at 28,136 up 276 points, while NSE Nifty is trading at 8,668 up 76 points.

The BSE Mid-cap Index is trading up 0.78% at 12,746 whereas BSE Small-cap Index is trading up 0.69% at 12,273.

Axis Bank, Tata Motors, L&T, M&M, Bajaj Auto and HDFC are among the gainers, whereas Dr. Reddy's, Bharti Airtel, Aditya Birla Nuvo and Grasim are losing sheen on BSE.

Some buying activity is seen in capital goods, auto, industrial, FMCG, banking, realty, power, finance abd energy sectors, while telecom is showing weakness on BSE.

The INDIA VIX is down 1.88% at 13.9450. Out of 1,827 stocks traded on the NSE, 472 declined, 941 advanced and 414 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trades today, while 13 stocks touched a new 52-week low on the NSE.

Asian markets are trading higher. The Nikkei 225 and Hong Kong's Hang Seng trading up by 0.74% each. Shanghai Composite is marginally up.

Wall Street closed higher. The S&P 500, the Dow and Nasdaq all closed higher on Thursday for the first time since 1999 on higher crude oil and upbeat corporate results. Oil prices rode the momentum from their overnight rally and extended gains. U.S. crude was up 0.5 percent at $43.73 a barrel, on track to gain nearly 5 percent on the week.

IRDAI has released a discussion paper on listing of Indian insurance firms. Irdai proposed that insurance firms having completed eight years of operations in case of general and reinsurance, and 10 years of operations in case of life insurance, can go for mandatory public listing.

On the economy front, CPI inflation for July and June IIP  will be announced today.