MarketExpress live: Sensex zooms 250 points; SBI Life gains 5% on stock market debut

Bombay Stock Exchange building. (Image: Wikimedia Commons)

Sensex and Nifty opened higher on Tuesday following the positive cues from the Wall Street’s record closing on Friday last week. BSE Sensex advanced 254 points to open at 31,537.81 points while NSE Nifty added 104.7 points to start at 9893.3 points. The two-day bi-monthly policy meeting of the Reserve Bank of India will be starting from today. The outcome of RBI policy meeting, macroeconomic data points and investment trend of overseas investors will guide the Indian stock markets this week. Foreign institutional investors pulled out over Rs 11,000 crore from stock markets in September. US stocks started the fourth quarter on a strong note on Monday, with all three major indexes hitting record high closes as data pointed to underlying strength in the economy.

SoftBank Group invests in Ola again despite reporting loss: 4 things to know
India’s ride-hailing company Ola has secured $2 billion in new funding from a group of investors including SoftBank Group Corp despite causing valuation loss to the latter in for the financial year ending March 2017.

12.19 pm: These stocks surged 400% since January: Best performers among global peers and Indian industrial companies: Graphite India Ltd. and HEG Ltd. are up more than 400 percent since the start of January, making them the best performers among global peers and Indian industrial companies.

12.18 pm: SoftBank Group invests in Ola again despite reporting loss: 4 things to know: India’s ride-hailing company Ola has secured $2 billion in new funding from a group of investors including SoftBank Group Corp despite causing valuation loss to the latter in for the financial year ending March 2017.

10.50 am: RCom shares tumble 7% after merger with Aircel scrapped; to revise mobile tower deal with Brookfield: Reliance Communication Ltd’s shares tumbled over 7.8% in an early trade on Tuesday after the company called off a proposed merger with rival Aircel.

10.50 am: Rupee makes a weaker start to third quarter; plunges 33 paise against dollar: The Indian rupee dropped sharply on the very first trading day of the third quarter of the financial year 2017-2018.

10.03 am: SBI Life shares list at 5% gain on stock market debut to issue price of Rs 700: Shares of SBI Life Insurance made a strong debut on stock exchanges on Tuesday after the insurer recently completed its Rs 8,400 crore IPO in September.

9.42 am: Sensex tops 31,600 ahead of RBI’s policy meet; Tata Motors jumps nearly 7%: Sensex and Nifty opened higher on Tuesday following the positive cues from the Wall Street’s record closing on Friday last week. Tata Motors was the biggest gainer on Sensex after the automaker posted a 25% increase in domestic sales at 53,965 units in September.

8.50 am: Stocks of Maruti Suzuki, Hero MotoCorp, Tata Motors, Bajaj Auto, DLF, Eicher Motors, TCS will be in focus today: Sensex and Nifty are likely to open higher on Tuesday following the record closing of Wall Street stocks on Friday.