Mumbai: The Nifty advanced by around 26 points, or 0.25%, to scale a new high of 10,178.95 while the Sensex rallied over 100 points in the opening trade on Tuesday on the back of persistent buying by domestic institutional investors (DIIs) amid positive Asian cues.
Brokers said continuous buying by DIIs coupled with short-covering by speculators and a firming trend at other Asian markets in line with another record performance on the Wall Street overnight buoyed trading sentiments here. Among Asian markets, Hong Kong’s Hang Seng advanced 0.14% while Japan’s Nikkei gained 1.47% in early trade. Shanghai Composite was slightly down. The US Dow Jones Industrial Average ended 0.28% higher on Monday.
The US Federal Reserve begins its two-day policy meeting on Tuesday, where it will leave interest rates unchanged and is expected to begin winding down their $4.5 trillion balance sheet in October, according to a Bloomberg survey of 42 economists. Here are the latest updates from the markets.
■ 10.57am: BSE Sensex dropped 30 points, or 0.09%, to 32,394, while the Nifty 50 fell 7 points, or 0.07%, to 10,146.
■ 10.50am: Japirakash Associates Ltd fell 11% to Rs16.50. The stock fell for fifth sessions. Since 1 September, the scrip declined over 33% and so far this year it gained 104.5%. According to media reports Supreme Court directed Jaypee Associates to deposit Rs2,000 crore with it in connection with insolvency proceedings involving Jaypee Infratech.
■ 10.00am: BSE Sensex traded lower by 12 points, or 0.04%, to 32,412, while the Nifty 50 fell 9 points, or 0.08%, to 10,147.
■ 9.58am: Tata Chemicals Ltd rose 1% to Rs649 after a huge block deal. Around 10.50 million shares or 4.1% stake of the company changed hands in a block deal, according to a Bloomberg report. However, details of the buyers and sellers were not known.
■ 9.55am: Tata Global Beverages Ltd rose 1% to Rs215 after a huge block deal. Around 43.20 million shares or 6.8% stake of the company changed hands in a block deal, according to a Bloomberg report. However, details of the buyers and sellers were not known.
■ 9.27am: BSE Sensex opened lower by 17 points, or 0.05%, to 32,407, while the Nifty 50 fell 8 points, or 0.08%, to 10,145.
■ 9.25am: Tata Motors Ltd rose 4% to Rs418.50 after a huge block deal. Around 32.35 million shares or 1.12% stake of the company changed hands in a block deal, according to a Bloomberg report. However, details of the buyers and sellers were not known.
■ 9.20am: Gail India Ltd rose 4% to Rs414.50 after brokerage firm Morgan Stanley upgraded the stock to “overweight”.
■ 9.15am: The rupee opened at 64.16 a dollar. At 9.15am, the rupee was trading at 64.16 a dollar, down 0.05% from its Monday’s close of 64.08.
■ 9.13am: The 10-year bond yield was at 6.602% compared to its previous close of 6.61%. Bond yields and prices move in opposite directions.
■ 9.10am: Asian currencies were trading mixed. South Korean won was down 0.33%, China renminbi 0.22%, China Offshore 0.19%, Taiwan dollar 0.08%, Indonesian rupiah 0.06%. However, Hong Kong dollar was up 0.19%, Japanese yen 0.08%, Singapore dollar 0.06%, Philippines peso 0.06%, Thai Baht 0.05%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 91.929, down 0.13% from its previous close of 92.047.
With inputs from PTI