Mumbai: BSE Sensex rises in early trade, while the Nifty index hits a fresh all-time high on Tuesday to 9,279.80 points and rises as much as 0.67% in intraday trade, tracking gains in the global equity markets in the wake of French elections. Emmanuel Macron advanced as the favourite in the presidential runoff, easing concerns that France will leave the euro currency bloc. With anxiety over the French elections fading, investors may also be showing relief in the absence of provocations from North Korea and signs of stability in Chinese markets, Bloomberg reported.
The Indian rupee, tracking Asian currencies, edges up against the US dollar. The shares of Reliance Industries Ltd and Biocon rise, while those of JK Tyre, Oberoi Realty and Rallis India fall on Tuesday morning.
10.05am: BSE Sensex trades higher by 144 points, or 0.49%, to 29,800, while the Nifty 50 rises 39 points, or 0.43%, to 9,257. Here are the latest updates.
10.00am: Bharat Heavy Electricals Ltd shares rise 3% to Rs181.15 after the company said it won orders worth Rs10,000 crore for 1,320 MW Super Thermal Power Project in Bangladesh.
9.55am: Mahindra & Mahindra Ltd shares rise 2% to Rs1,289.95 after broking firm Credit Suisse upgraded the stocks rating to “outperform”.
9.50am: Wipro Ltd shares rise 1.3% to Rs498.40 ahead of its March quarter earnings. According to 30 Bloomberg analysts’ estimates, the company may post net profit of Rs2,122.60 crore, and clock in net sales of Rs13,817.60 crore.
9.40am: IDFC Bank Ltd shares rise 1.1% to Rs59.50 ahead of its March quarter earnings. According to four Bloomberg analysts’ estimates, the company may post a net profit of Rs132.10 crore.
9.35am: Sensex was trading at 29799.68, up 0.49% or 143.84 points while Nifty was trading 9255.85 points, up 0.41%.
9.30am: BSE Sensex trades higher by 174 points, or 0.59%, to 29,830, while the Nifty 50 rises 48 points, or 0.52%, to 9,266.
9.27am: The 10-year bond yield was trading at 6.943% compared to its previous close of 6.942%. Bond yields and prices move in opposite directions.
9.25am: Reliance Industries Ltd rose 2.3% to Rs1,449.25 after the company reported better-than-expected earnings. The company reported a 12.3% increase in its consolidated March quarter profit, boosted by higher refining margins and better earnings from its petrochemical unit. RIL’s March quarter profit of Rs8,046 crore was in line with analyst estimates. Consolidated gross revenue rose 45.2% from a year ago to Rs92,889 crore, mainly because of increased oil and petrochemical prices. During the March quarter, Brent crude prices averaged $54 per barrel compared with $48.2 a year ago.
9.20am: Rallis India Ltd fell 4% to Rs242.25 after the company reported 8.82% decline in its March quarter earnings to Rs31 crore from Rs34 crore a year ago.
9.15am: Biocon Ltd rose 5% to Rs1,119 after the company said its board will meet on 27 April to consider a bonus issue.
9.10am: The rupee opened at 64.41 a dollar. At 9.15am, the rupee was trading at 64.39 a dollar, up 0.07% from its Monday’s close of 64.44.
9.05am: Malaysian ringgit was up 0.28%, Taiwan dollar 0.13%, Indonesian rupiah 0.12% and Philippines peso rose 0.1%. However, Japanese yen was down 0.29%, South Korean won 0.11%, Thai baht 0.06% and Singapore dollar fell 0.06%.
9.00am: Equities in Asia were higher in early Tuesday trade following the global relief rally.