The domestic market supported rallied in afternoon deal led by banks, auto and infra stocks.
European stocks extended gains after Deutsche Bank AG agreed to sell its U.K. insurance unit Abbey Assurance to Phoenix Group Holdings for $1.2 billion, as per media reports.
The domestic market opened flat on mixed global cues and recovery in US markets and weakness in Asia.
At 2:40 PM, the S&P BSE Sensex is trading at 28,372 up 148 points, while NSE Nifty is trading at 8,764 up 58 points.
The BSE Mid-cap Index is trading up 0.99% at 13,408 whereas BSE Small-cap Index is trading up 1.09% at 13,045.
Tata Steel, SBI, Adani Ports, Bharti Airtel and Tata Motors are among the gainers, whereas Reliance Industries, HUL, Coal India, Sun Pharma and Cipla are losing sheen on BSE.
Some buying activity is seen in telecom, metal, realty, capital goods, auto, consumer durables and banking sectors, while energy sector is showing weakness on BSE.
The INDIA VIX is down 4% at 14.6800. Out of 1,874 stocks traded on the NSE, 497 declined, 1,092 advanced and 285 remained unchanged today.
A total of 58 stocks registered a fresh 52-week high in trades today, while 24 stocks touched a new 52-week low on the NSE.
Mphasis Ltd fell 1.7% to Rs.530. The company has informed BSE that the Board of Directors of the Company at its meeting held on September 27, 2016, approved the recommendation of a dividend of Rs.20 per Equity Share of Rs. 10/- each for the financial year ended March 31, 2016. The dividend, if declared at the ensuing Annual General Meeting of the Company, will be paid within 30 days of the Annual General Meeting.
Motherson Sumi gained 1% after Reserve Bank has allowed foreign investors to hike their stake in Motherson Sumi Systems to up to 30% from 24% earlier.
Max India gained 1.2%. Max India Ltd said it has received shareholders' approval for amalgamation of Max Life Insurance Company with Max Financial Services as also the demerger of insurance business for transfer to HDFC Standard Life Insurance Company.
Dilip Buildcon gained 1.3%. The National Highways Authority of India (NHAI) has awarded four laning of 127 km of national highway stretch between Lucknow and Sultanpur to Dilip Buildcon. The project would be constructed at the cost of Rs 2,845 crore.
Mahindra and Mahindra inched up 0.44% after the company announced its SUV Scorpio with Intelli-Hybrid technology for the Delhi and NCR market, at a starting price of Rs.9.35 lakh (ex-showroom).
Coal India is trading marginally higher. Coal India's buyback offer will open next week on October 3 and would remain open till October 18. The company plans to buy back 1.7% (10.89 crore) fully paid up equity shares at Rs 335 per share totalling Rs.3,650 crore.
Karur Vysya Bank Ltd gained 1.2% to Rs.475.60. Karur Vysya Bank seeks members' approval for sub divison of shares in 1:5 ratio.
Ahluwalia Contracts (India) advanced 1.4% after the company has received new order aggregating Rs.151.39 crore Work awarded from Bharat Electronics Limited.
Jindal Stainless zoomed 3.4% after the company has received approval from Orissa Industrial and Infrastructure Development Corporation ('IDCO) vide its letter dated 24 September 2016 conveying its no objection for effecting the transfer or right to use of the land on which the Hot Strip Mill and the Coke Plant of the Company are located, to Jindal United Steel and Jindal Coke, respectively.
Balaji Telefilms jumped 10% after the Board of Directors of the Company at its meeting held on 27 September 2016 has considered and approved a composite scheme of arrangement between the Company and its wholly owned subsidiaries viz. Balaji Motion Pictures and Bolt Media and their respective shareholders and creditors.
KNR Constructions slipped 0.47% to Rs.766. The company has completed the rehabilitation and upgradation of existing National Highway 565 from 425km to 509km between Penchalakonda and Yerpedu section in Andhra Pradesh under National Highways Development Programme IV, as per media reports.
Lanco Infratech Limited is trading in red on the BSE. Lanco Infratech is looking to sell 1200mw coal-fired Anpara Power plant in Uttar Pradesh to bring in additional equity required to complete the under-construction power plants totalling 4000mw, as per media reports.
Manpasand Beverages gained 2%. Manpasand Beverages has informed BSE that a meeting of QIP Committee of the Company is scheduled to be held on September 30, 2016, inter alia, to consider and determine the price for Equity Shares of the Company to be issued in the QIP, in accordance with Chapter VIII and other applicable provisions of the SEBI Regulations and Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014.
Delta Corp Ltd is currently trading at Rs. 171.9, up by Rs. 8.1 or 4.95% from its previous closing of Rs. 163.8 on the BSE. Around 20.1 lakh shares were traded in a multiple block at Rs. 168.65 on the BSE & NSE.
The rupee opened higher four paise at 66.46/$ against US Dollar Wednesday as against the previous close of 66.48/$.
Asian markets are trading in negative zone. Shanghai Composite and Nikkei 225 are in red. Wall Street closed higher on Tuesday. The Dow Jones industrial average rose 0.74% to end at 18,228.3 points and the S&P 500 gained 0.64% to 2,159.93. The Nasdaq Composite added 0.92% to 5,305.71.
Oil fell about 3% on Tuesday after Saudi Arabia and Iran dashed market expectations that the two major OPEC producers would find a compromise this week at a meeting in Algiers to help ease a global glut of crude, as per media report.
On the global front, the board of the World Bank has unanimously agreed to name Jim Yong Kim to a second term as president, the global lender announced today.
European stocks extended gains after Deutsche Bank AG agreed to sell its U.K. insurance unit Abbey Assurance to Phoenix Group Holdings for $1.2 billion, as per media reports.
The domestic market opened flat on mixed global cues and recovery in US markets and weakness in Asia.
At 2:40 PM, the S&P BSE Sensex is trading at 28,372 up 148 points, while NSE Nifty is trading at 8,764 up 58 points.
The BSE Mid-cap Index is trading up 0.99% at 13,408 whereas BSE Small-cap Index is trading up 1.09% at 13,045.
Tata Steel, SBI, Adani Ports, Bharti Airtel and Tata Motors are among the gainers, whereas Reliance Industries, HUL, Coal India, Sun Pharma and Cipla are losing sheen on BSE.
Some buying activity is seen in telecom, metal, realty, capital goods, auto, consumer durables and banking sectors, while energy sector is showing weakness on BSE.
The INDIA VIX is down 4% at 14.6800. Out of 1,874 stocks traded on the NSE, 497 declined, 1,092 advanced and 285 remained unchanged today.
A total of 58 stocks registered a fresh 52-week high in trades today, while 24 stocks touched a new 52-week low on the NSE.
Mphasis Ltd fell 1.7% to Rs.530. The company has informed BSE that the Board of Directors of the Company at its meeting held on September 27, 2016, approved the recommendation of a dividend of Rs.20 per Equity Share of Rs. 10/- each for the financial year ended March 31, 2016. The dividend, if declared at the ensuing Annual General Meeting of the Company, will be paid within 30 days of the Annual General Meeting.
Motherson Sumi gained 1% after Reserve Bank has allowed foreign investors to hike their stake in Motherson Sumi Systems to up to 30% from 24% earlier.
Max India gained 1.2%. Max India Ltd said it has received shareholders' approval for amalgamation of Max Life Insurance Company with Max Financial Services as also the demerger of insurance business for transfer to HDFC Standard Life Insurance Company.
Dilip Buildcon gained 1.3%. The National Highways Authority of India (NHAI) has awarded four laning of 127 km of national highway stretch between Lucknow and Sultanpur to Dilip Buildcon. The project would be constructed at the cost of Rs 2,845 crore.
Mahindra and Mahindra inched up 0.44% after the company announced its SUV Scorpio with Intelli-Hybrid technology for the Delhi and NCR market, at a starting price of Rs.9.35 lakh (ex-showroom).
Coal India is trading marginally higher. Coal India's buyback offer will open next week on October 3 and would remain open till October 18. The company plans to buy back 1.7% (10.89 crore) fully paid up equity shares at Rs 335 per share totalling Rs.3,650 crore.
Karur Vysya Bank Ltd gained 1.2% to Rs.475.60. Karur Vysya Bank seeks members' approval for sub divison of shares in 1:5 ratio.
Ahluwalia Contracts (India) advanced 1.4% after the company has received new order aggregating Rs.151.39 crore Work awarded from Bharat Electronics Limited.
Jindal Stainless zoomed 3.4% after the company has received approval from Orissa Industrial and Infrastructure Development Corporation ('IDCO) vide its letter dated 24 September 2016 conveying its no objection for effecting the transfer or right to use of the land on which the Hot Strip Mill and the Coke Plant of the Company are located, to Jindal United Steel and Jindal Coke, respectively.
Balaji Telefilms jumped 10% after the Board of Directors of the Company at its meeting held on 27 September 2016 has considered and approved a composite scheme of arrangement between the Company and its wholly owned subsidiaries viz. Balaji Motion Pictures and Bolt Media and their respective shareholders and creditors.
KNR Constructions slipped 0.47% to Rs.766. The company has completed the rehabilitation and upgradation of existing National Highway 565 from 425km to 509km between Penchalakonda and Yerpedu section in Andhra Pradesh under National Highways Development Programme IV, as per media reports.
Lanco Infratech Limited is trading in red on the BSE. Lanco Infratech is looking to sell 1200mw coal-fired Anpara Power plant in Uttar Pradesh to bring in additional equity required to complete the under-construction power plants totalling 4000mw, as per media reports.
Manpasand Beverages gained 2%. Manpasand Beverages has informed BSE that a meeting of QIP Committee of the Company is scheduled to be held on September 30, 2016, inter alia, to consider and determine the price for Equity Shares of the Company to be issued in the QIP, in accordance with Chapter VIII and other applicable provisions of the SEBI Regulations and Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014.
Delta Corp Ltd is currently trading at Rs. 171.9, up by Rs. 8.1 or 4.95% from its previous closing of Rs. 163.8 on the BSE. Around 20.1 lakh shares were traded in a multiple block at Rs. 168.65 on the BSE & NSE.
The rupee opened higher four paise at 66.46/$ against US Dollar Wednesday as against the previous close of 66.48/$.
Asian markets are trading in negative zone. Shanghai Composite and Nikkei 225 are in red. Wall Street closed higher on Tuesday. The Dow Jones industrial average rose 0.74% to end at 18,228.3 points and the S&P 500 gained 0.64% to 2,159.93. The Nasdaq Composite added 0.92% to 5,305.71.
Oil fell about 3% on Tuesday after Saudi Arabia and Iran dashed market expectations that the two major OPEC producers would find a compromise this week at a meeting in Algiers to help ease a global glut of crude, as per media report.
On the global front, the board of the World Bank has unanimously agreed to name Jim Yong Kim to a second term as president, the global lender announced today.
