Mumbai: The BSE Sensex on Tuesday rose by 213 points and the NSE Nifty closed above 9,800-mark after a rally in auto stocks on better-than-expected sales data for September, and on sustained buying by domestic institutional investors (DIIs). However, profit booking at improved levels eroded some of the gains.
Firm Asian cues and a higher opening of European markets reflecting a rally on Wall Street too bolstered trading sentiments here. The US manufacturing activity in September rose to its highest level in 13 years. Robust sales numbers for September from automakers led by Tata Motors and a positive global cues added fuel to the rally. The Monetary Policy Committee headed by RBI governor Urjit Patel started two-day deliberations on Tuesday with industry and the government hoping for interest rate cut to spur growth, while experts expect status quo.
Here are the latest updates from the markets:
■ 3.33pm: BSE Sensex closed higher by 213.66 points, or 0.68%, to 31,497.38, while the Nifty 50 gained 70.90 points, or 0.72%, to close at 9,859.50.
■ 3.07pm: BSE Sensex was trading higher by 228.39 points, or 0.73%, to 31,512.11, while the Nifty 50 gained 75.25 points, or 0.77%, to 9,863.85. Tata Motors, Asian Paints and RIL were the top gainers, whereas Power Grid, Maruti and SBI were the major losers.
■ 3.05pm: Reliance Communications’s lenders, including State Bank of India, plan to meet as early as this week after the merger with Aircel was called off, people with the knowledge of the matter told Bloomberg. RCom shares were trading 10.42% down at Rs17.20.
■ 2.33pm: BSE Sensex rose 261.44 points, or 0.84%, to 31,545.16, while the Nifty 50 gained 76 points, or 0.77%, to 9,864.45
■ 2.30pm: Appliance maker Amber Enterprises Pvt. Ltd has filed preliminary papers with the Securities and Exchange Board of India (Sebi) to raise Rs555 crore through an initial public offering (IPO). The IPO comprises fresh issue of equity shares worth Rs450 crore and sale of scrips to the tune of Rs105 crore by promoters Jasbir Singh and Daljit Singh.
■ 2.00pm: The pan-European STOXX 600 index was up 0.1%, the Madrid’s blue chip IBEX also gained 0.1%. Germany was closed for holiday. UK’s FTSE fell 0.1%.
■ 12.53pm: BSE Sensex was trading higher by 266.37 points, or 0.85%, to 31,550, while the Nifty 50 rose 80 points, or 0.82%, to 9,868.80.
■ 12.50am: Hindustan Aeronautics Ltd (HAL) has filed for an initial public offering (IPO) of shares that will see the government selling a tenth of the military aircraft maker. The government, which fully owns HAL, is seeking to sell about 36.2 million shares in the IPO, according to a company filing with capital markets regulator Securities and Exchange Board of India.
■ 12.21pm: BSE Sensex rose 232 points, or 0.74%, to 31,516, while the Nifty 50 gained 74 points, or 0.75%, to 9,862.35.
■ 12.15pm: Auto stocks gained most today boosted by sales numbers. The BSE Auto index rose over 2% . The index was trading 1.28% up led by Tata Motors, which was up 4.05%, Bajaj Auto 2.41%, M&m 2.01%, Bharat Forge up 4.52%.
■ 11.26am: BSE Sensex surged 260 points, or 0.83%, to 31,544, while the Nifty 50 gained 80 points, or 0.82%, to 9,868.60.
■ 11.17am: Among sectoral indices, the BSE Auto index gained most and rose 1.56% followed by the consumer durables 1.55% and the energy 1.36%. Meanwhile, the Nifty PSU Bank index dropped 0.32%.
■ 11.15am: India’s manufacturing purchasing managers’ index (PMI) for September remained unchanged at 51.2, indicating a modest improvement in manufacturing sector business conditions, Nikkei IHS Markit survey said on Tuesday. September saw a sustained expansion in the Indian manufacturing sector, supported by increases in both output and new orders, noted Nikkei IHS Markit surve. However, the rates of expansion eased slightly in both cases, it added.
■ 10.35am: BSE Sensex was trading higher by 207 points, or 0.66%, to 31,491, while the Nifty 50 gained 58 points, or 0.59%, to 9,846.30.
■ 10.33am: Shares of SBI Life Insurance Co. Ltd debuted 5% higher on the bourses on Tuesday, after the insurer’s Rs. 8,400 crore initial public offer (IPO) was subscribed 3.58 times last week. SBI Life shares opened 4.75% higher on the BSE at Rs 733.30 a piece , compared to the issue price of Rs. 700 , which was the upper end of the price band between Rs. 685-Rs. 700 per share.
■ 10.30am: Jaiprakash Associates Ltd rose 4% to Rs 18.70 after the company said its bondholders approved exchanging outstanding existing bonds, that is, 5.75% convertible notes due 2021 and 4.76% amortising bonds due 2020, according to a statement on exchanges.
■ 10.00am: BSE Sensex rose 224 points, or 0.72%, to 31,507.62, while the Nifty 50 gained 63 points, or 0.64%, to 9,851.55.
■ 9.55am: PNC Infratech Ltd gained 10% to Rs 149.05 after the company said it declared lowest bidder for Rs 2160 crore road order in Uttar Pradesh.
■ 9.50am: GMR Infrastructure Ltd added 2.5% to Rs 16.75 after the company said it will raise up to Rs 2500 crore via securities issue.
■ 9.45am: Dr Reddy’s Laboratories Ltd rose 2.8% to Rs 2394.25 after the company said it launched the Sevelamer Carbonate Tablets in the US markets.
■ 9.22am: BSE Sensex opened higher by 233.84 points, or 0.75%, to 31,517.56, while the Nifty 50 rose 72.80 points, or 0.74%, to 9,861.40.
■ 9.20am: Tata Motors Ltd rose 5.2%, while Tata Motors DVR jumped 5% after Central government entity Energy Efficiency Services Ltd (EESL) awarded a contract to Tata Motors to procure 10,000 electric vehicles for government departments. The company was selected through an international competitive bidding. Others in the race included Mahindra & Mahindra and Nissan Motors.
■ 9.17am: Shares of Reliance Communications Ltd (RCom) on Tuesday fell as much as 9% after the company called off the merger of its wireless services operations with Aircel Ltd due to regulatory delays and opposition from some creditors.
■ 9.15am: The rupee opened at 65.63 a dollar and touched a low of 65.67. At 9.15am, the home currency was trading at 65.57 against the dollar, down 0.5% from its Friday’s close of 65.28.
■ 9.13am: The 10-year bond yield was at 6.675%, compared to its previous close of 6.663%. Bond yields and prices move in opposite directions.
■ 9.10am: Asian currencies were trading lower as dollar gained after American factory data released Monday beat estimates and the prospect for tax cuts boosted confidence in the U.S. economy. Japanese yen was down 0.27%, Thai Baht was down 0.26%, Singapore dollar 0.26%, Indonesian rupiah 0.25%, Philippines peso 0.2%, South Korean won 0.17%, Malaysian ringgit 0.13%, Taiwan dollar 0.12%, China Offshore 0.06%. However, China renminbi was up 0.12%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.809, up 0.27% from its previous close of 93.559.
With inputs from PTI