BSE Sensex trades higher by 113 points, or 0.39%, to 29,281, while the Nifty 50 rises 38 points, or 0.42%, to 9,068. Sensex rose on Thursday tracking a recovery in global markets with energy shares leading the gains while financial and auto shares bounced back. Key indexes had on Wednesday recorded their highest intraday loss in over two months, triggered by a slump on the Wall Street due to a lack of clarity in US President Donald Trump’s economic policies. US shares recovered on Wednesday while Asian stocks rose on Thursday, taking cues from gains on Wall Street.
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“The bounce-back is due to both global and local factors. Mutual funds are getting record-high inflows everyday. Flows have been very strong on both domestic and FII (Foreign Institutional Investors) fronts,” said Miraj Vora, derivative analyst at Prabhudas Lilladher Pvt Ltd.
As per the provisional data available on the NSE website, FIIs were net buyers of stocks worth Rs357 crore on Wednesday. “We are heading into the expiry week. So there would be pressure on that front. It’s looking very difficult for the Nifty to cross the 9,150-9,200 levels on the upside or break 9,000 on the lower side for this expiry,” added Vora. Energy sector topped the gains on the NSE index while the S&P BSE Oil & Gas index gained 1.42%. Major oil marketing companies, including Bharat Petroleum Corp Ltd, Hindustan Petroleum Corp Ltd and Indian Oil Corp Ltd, were all up more than 2% each even as oil prices remained under pressure.
1.35pm: BSE Sensex trades higher by 101 points, or 0.35%, to 29,269, while the Nifty 50 rises 35 points, or 0.38%, to 9,065. Reliance Defence shares rise 9% to trade at Rs63.85.
12.30pm: BSE Sensex trades higher by 113 points, or 0.39%, to 29,281, while the Nifty 50 rises 38 points, or 0.42%, to 9,068.
10.26am: BSE Sensex trades higher by 101 points, or 0.35%, to 29,269, while the Nifty 50 rises 29 points, or 0.33%, to 9,060.
10.00am: Reliance Defence and Engineering Ltd shares rise 4.1%, Muthoot Finance Ltd shares rise 2.8%, Suzlon Energy Ltd shares rise 3.3%, InterGlobe Aviation Ltd shares rise 2.2%, Infibeam Corp. Ltd shares rise 1.3%, Max Financial Services Ltd shares rise 1.8% after NSE adds these companies to its derivatives segment.
9.50am: Delta Corp Ltd shares rise 1.5% to Rs179.70 after the company said it plans to raise Rs750 crore through issue of equity shares or other securities via qualified institutional placemen
9.35am: BSE Sensex trades higher by 75 points, or 0.26%, to 29,243, while the Nifty 50 rises 30 points, or 0.34%, to 9,061.
9.35am: Hindustan Zinc Ltd shares rise 2.7% to Rs320 after the company said it as approved Special interim dividend of 1375% ie Rs27.50 per share of Rs2 each for the financial year 2016-17. Vedanta Ltd shares rise 2.1% to Rs266.40.
9.30am: Emami Infrastructure Ltd shares rise 8.1% to Rs81.20 after Emami Group has formed a partnership with Mumbai-based real estate firm Sheth Corp to develop a luxury residential project at Mumbai’s Mulund suburb. Kolkata-based Emami has invested Rs350 crore for a 50% stake in the project, said a press release issued by both the firms
9.25am: Cairn India Ltd shares rise 2% to Rs296.90. The government on Wednesday cleared a policy for extending the term of more than two dozen oil and gas production contracts signed prior to 1999 in a bid to bolster energy security. The move is expected to fetch an additional investment of about $5.43 billion.
9.20am: Sadbhav Infrastructure Projects Ltd shares rise 8% to Rs 104.35 after the company said it has selected lowest bidder for Maharshtra four-laning projects.
9.15am: The rupee opened at 65.41 a dollar. At 9.15am, the home currency was trading at 65.40, up 0.07% from its previous close of 65.44.
9.10am: The 10-year bond yield was trading at 6.803%, compared to its Wednesday’s close of 6.817%. Bond yields and prices move in opposite directions.
9.00am: Asian currencies were trading lower. Thai baht was down 0.32%, Japanese yen 0.24%, China offshore 0.16%, China renminbi 0.15%, Singapore dollar 0.15%, Taiwan dollar 0.11% and Malaysian ringgit 0.07%. However, South Korean won was up 0.24%.
With inputs from Reuters
