The BSE Oil & Gas is one of the top gaining indices on Friday. It is up by 1.1% at 13343. ONGC is majorly contributing to the index gains and pulling it to higher level. ONGC is trading higher by 1.5% at Rs 160 per share. Other stocks in the index viz. Indraprastha Gas is up 2.3% at Rs 1061 per share, Bharat Petroleum Corporation is up 1.9% at Rs 628 per share, GAIL is up 1.4% at Rs 361 per share, Hindustan Petroleum Corporation is up 1.0% at Rs 517 per share, Indian Oil Corporation is up 0.8% at Rs 391 per share and Petronet LNG is also up 0.6% at Rs 435 per share. Eris Lifesciences made premium debut on the NSE clocking gains of 1.32% at Rs 611 per share as compared to its issue price of Rs 603 per share. It concluded its initial public offer (IPO) last week and was subscribed 3.29 times in its three-day bidding from June 16-20. The portion set aside for retail investors was oversubscribed 3.51 times and qualified institutional buyers was oversubscribed 4.68 times. The portion reserved for non-institutional investors was subscribed only 45%. SEBI has proposed an expansion of eligible jurisdictions for grant of FPI registration to category I foreign portfolio investors (FPIs) by including countries that have diplomatic tie-ups with India and are FEMA compliant. Besides, the regulator has suggested for rationalising ‘fit and proper’ criteria for FPIs as well as simplifying broad-based requirements for such investors.
At 9:15 AM, the BSE Sensex opened higher by 76 points at 30910, while the Nifty50 opened higher by 31 points at 9522 mark.Axis Bank is the top Nifty gainer and NTPC is the top Nifty loser in the morning hours. There are 963 advances, 369 declines and 471 unchanged stocks on NSE reflecting a positive bias floating in the market. Nifty50 index has immediate support placed in the range of 9,450, and if it holds below 9,450, it may trigger fresh selling towards 9,420 and then 9,400 level, while on the upside, resistances are seen at the level of 9,550. The rupee opened at 64.46 per US dollar appreciated by 9 paise. On Wednesday, the rupee weakened further to close with a marginal loss of 2 paise at 64.55 against the American currency in limited trade on the back of stray dollar demand from importers. The US stocks showed a strong move to the upside on Wednesday. The Dow climbed 144 points to 21,455. The Nasdaq advanced 88 points to finish at 6,234 and the S&P 500 jumped 21 points to 2,441. Asian stocks edge higher in early trade on Thursday, following a rebound in the US markets. Japan’s Nikkei 225 has surged 104 points; Hong Kong’s Hang Seng has gained 175 points, while China’s Shanghai Composite has gained 4 points.
The BSE Telecom is the top gaining index in the morning session on Thursday. It is up by 1.3% at 1316.32. Bharti Airtel is contributing majorly to the index gains and pulling it to higher levels. Bharti Airtel is trading higher by 1.4% at Rs 382.85 per share. Other stocks in the index viz. Reliance Communications is up by 3.1 % at Rs 21.50 per share, ITI is up by 3.3% at Rs 21.45 per share, Aksh Optifibre is up by 2.6% at Rs 17.45 per share, GTL Infrastructure is up by 2.5% at Rs 4.87 per share, OnMobile Global is up by 1.6% at Rs 69.35 per share and Vidhya Telelinks is also trading higher by 2.0% at Rs 768.00 per share. Eris Lifesciences settles at Rs 611 per share in pre-open on NSE as against issue price of Rs 603 per share on its debut. Godrej Industries Ltd proposes to sell shares of its group company Godrej Agrovet to raise up to Rs 400 crore through the initial public offer (IPO). Godrej Agrovet is involved in agri-inputs, animal feeds, dairy and poultry and palm oil manufacturing. At 10 AM, the S&P BSE Sensex is trading at 31,064 up 223 points, while NSE Nifty is trading at 9561up 70 points. A total of 20 stocks registered a fresh 52-week high in trade today, while 22 stocks touched a new 52-week low on the NSE. The BSE Mid-cap Index is trading up 0.85% at 14,626, while BSE Small-cap Index is trading up 1.26% at 15,352. Sectoral indices in BSE are trading in positive sentiments on Thursday’s intraday trade, wherein Metal, Capital goods and Bankex are the major gainers on Thursday’s trade. Axis Bank, ACC & Tata Steel are among the gainers whereas Sun Pharmaceuticals Industries, NTPC & Wipro are losing on the NSE. The INDIA VIX is down 4.6% at 11.4.
