Key benchmark indices were trading higher in early trade, tracking positive global cues. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 82.61 points or 0.26% at 32,037.96. The Nifty 50 index was up 18.05 points or 0.18% at 9,917.65. The Sensex was trading above the psychologically important 32,000 mark.
Among secondary barometers,the BSE Mid-Cap index was down 0.02%, underperformed the Sensex. The BSE Small-Cap index was up 0.39%, outperformed the Sensex.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 876 shares rose and 354 shares fell. A total of 48 shares were unchanged.
Overseas, most Asian shares rose, bolstered by a surge in global stocks to a record high on strong US corporate earnings, while investors awaited the Japanese and European central bank meetings for clues on their policy outlooks. The Bank of Japan ends its two-day policy meeting today, 20 July 2017. It is set to keep policy unchanged.
US stock-market indices closed firmly higher yesterday, 19 July 2017, with all of the main equity benchmarks notching records, as buying appetite resumed on Wall Street. The Dow Jones Industrial Average closed up 0.3% higher at 21,640. The S&P 500 index rose 0.5% at 2,473 and the Nasdaq Composite Index ended up 0.6% at 6,385. Market sentiment was aided partially by an early climb in shares of Morgan Stanley after it reported earnings and revenue that topped expectations.
Back home, Just Dial was up 3.20%. The company said that the board on 24 July 2017 will also consider a proposal for buyback of shares of the company. The announcement was made before market hours today, 20 July 2017.
TCS was down 0.22%. The company announced that its customer, Axis Securities has launched voice based trading as part of TCS BaNCS Digital and is among the early adopters of this technology to offer such a capability to its customers. As a result of this new offering, trade volumes are expected to grow by 10-15% from the mobile app and the enhanced voice based trading. The announcement was made after market hours yesterday, 19 July 2017.
Dwarikesh Sugar Industries was up 1.89%. The company said that ICRA has vide it's letter dated 19 July 2017 upgraded the rating from [ICRA]A- (pronounced as ICRA A minus) to [ICRA]A+ (pronounced as ICRA A Plus) with stable outlook for long term loans/ fund based / non fund based facilities of Rs 599.99 crore. The announcement was made after market hours yesterday, 19 July 2017.
Canara Bank was down 3.17%. The bank's net profit rose 9.9% to Rs 252 crore on 4.39% rise in total income to Rs 12304 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours yesterday, 19 July 2017.
Karnataka Bank was up 0.32%. The bank said that it is targeting a farm credit of Rs 6800 crore during 2017-18. Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, said that timely extension of farm credit, technical counselling, marketing input to farmers to reap maximum benefit and thereby ensuring timely renewal shall be focused by agri business managers to have a commercially viable agri portfolio which is remunerative to both the bank and farmers. The announcement was made after market hours yesterday, 19 July 2017.
Subex was up 1.05%. The company has been selected by ElevenPaths, Telefonica Cybersecurity Unit to offer a Fraud Management - as a Service (FMaaS) solution. The agreement between Telefonica and Subex will result in the new 'Telefonica FMaaS Powered by Subex' to protect against a comprehensive set of digital risks and threats, along with a library of fraud detection process. The announcement was made after market hours yesterday, 19 July 2017.
Adani Enterprises was down 0.36%. The company has incorporated a wholly owned subsidiary company namely, Gare Pelma III Collieries on 18 July 2017. Being a successful bidder, Chhattisgarh State Power Generation Corporation (CSPGCL) has issued Letter of Award to Adani Enterprises for Gare Pelma III Coal Block on 24 June 2017. Accordingly, Gare Pelma III Collieries has been formed as a SPV of Adani for execution of Coal Mining Service Agreement with CSPGCL. The announcement was made after market hours yesterday, 19 July 2017.
IFB Industries was up 1.56%. The company has entered into an agreement with IFB Automotive towards acquisition of Global Automotive & Appliances (GAAL), Singapore and consideration money of Rs 19.99 crore paid to acquire 100% equity capital of GAAL. The announcement was made after market hours yesterday, 19 July 2017.
Trent was up 1.25%. The company said that board of directors approved entering into definitive agreement with Trent Hypermarket Private Limited (THPL), a Joint Venture of the company, for acquiring their value fashion apparel business. The value fashion business presents significant synergies with the existing apparel business of the company. The announcement was made after market hours yesterday, 19 July 2017.
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