Mumbai: The benchmark BSE Sensex rose by 78 points to end at over two-week high of 31,924.41 on Tuesday, marking its third straight day of gains as pharma, oil and gas and banking stocks advanced. The broader NSE Nifty closed above the 10,000-mark for the first time since 21 September.
Sustained buying by domestic financial institutions and widening of exposure by retail investors ahead of the second quarter earnings season amid a firming trend in the Asian region helped markets extend gains for a third day, brokers said. Stocks of IT, power, healthcare, capital goods, oil & gas, banking and auto were the major drivers. Here are the latest updates from the markets:
■ 3.33pm: BSE Sensex closed higher by 77.52 points, or 0.24%, to 31,924.41, while the Nifty 50 rose 28.20 points, or 0.28%, to close at 10,016.95.
■ 3.10pm: Lupin said it has launched generic Narco tablets in the US market. Lupin shares were trading at Rs1060.65, up 2.01%. The stock was the top gainers on BSE.
■ 2.52pm: Cochin Shipyard Ltd surged 9.05% to Rs562.70 after the company said it has received contract for eight vessels worth Rs5,400 crore for the Indian Navy.
■ 2.43pm: BSE Sensex rose 116.29 points, or 0.37%, to 31,963.18, while the Nifty 50 added 31.20 points, or 0.31%, to 10,019.95. Reliance Industries, Lupin and Axis Bank were top gainers, whereas Tata Steel, Hindustan Unilever and ICICI Bank were top losers.
■ 2.40pm: The rupee strengthened marginally against the US dollar ahead of the key domestic as well as foreign data. The home currency was trading at 65.30 against the dollar, up 0.10% from its Monday’s close of 65.36.
■ 1.47pm: BSE Sensex rose 90.53 points, or 0.28%, to 31,937.42, while the Nifty 50 added 28 points, or 0.28%, to 10,016.75. The midcap index was 0.64%, while the smallcap rose 0.89%.
■ 1.45pm: Mining company Vedanta Resources said mined metal production at its Indian zinc unit rose 42% in the first half, boosted by higher ore production across all its mines. The company’s shares were trading at Rs321.95, down 0.60%.
■ 1.40pm: European stocks open mixed on Tuesday. The Europe STOXX 600 slipped 0.1%. Germany’s DAX fell 0.04%. Meanwhile, UK’s FTSE 100 Index rose 0.1%.
■ 12.47pm: BSE Sensex gained 86.50 points, or 0.27%, to 31,933.39, while the Nifty 50 rose 24.90 points, or 0.25%, to 10,013.65.
■ 12.40pm: Indian Energy Exchange (IEX) Ltd’s initial public offering (IPO) was subscribed 25% on Tuesday, the second day of the share sale. As of 12pm, the IPO received bids for 1,078,389 shares against the total issue size of 4,245,508 shares, according to data available with NSE. The IPO will close on 11 October.
■ 12.35pm: MAS Financial’s IPO was subscribed 8.30 times on Tuesday, the last day of the share sale. As of 12pm, the IPO received bids for 59,124,160 shares against the total issue size of 7,124,910 shares, according to data available with NSE.
■ 12.30pm: South Indian Bank fell 7% to Rs30 after the bank reported 96% drop in its September quarter net profit to Rs4.32 crore from Rs 110.52 crore a year ago.
■ 11.58am: BSE Sensex was trading higher by 95.71 points, or 0.30%, to 31,942.60, while the Nifty 50 gained 27.30 points, or 0.27%, to 10,016.05.
■ 11.55am: Lupin, Reliance Industries, Infosys and PowerGrid were the top gainers, rising 2.18%, 1.57%, 1.34% and 1.29%, respectively. Shares of Tata Steel and Hindustan Unilever fell 0.85% and 0.68%, respectively.
■ 11.50am: Among sectoral indices, the BSE Energy index gained most and was up 0.91%, followed by the IT index 0.75% and utilities 0.87%. Meanwhile, BSE Realty fell 0.43%.
■ 11.13am: BSE Sensex rose 137.05 points, or 0.43%, to 31,983.94, while the Nifty 50 gained 37.05 points, or 0.37%, to 10,025.80.
■ 10.44am: Shares of Suven Life Sciences Ltd jumped 6.46% to Rs192.70 after the company announced that it received a product patent from New Zealand, corresponding to the new chemical entities for the treatment of disorders associated with neurodegenerative diseases.
■ 10.24am: BSE Sensex rose 75.44 points, or 0.24%, to 31,922.33, while the Nifty 50 gained 19.20 points, or 0.19%, to 10,007.95.
■ 10.20am: Adani Transmission Ltd hit 10% upper circuit after the company said it is in pact with Reliance Infra for acquiring its Mumbai operations. Reliance Infra was up 2%.
■ 10.17am: Religare Enterprises hits upper circuit for the seventh session and rose 51% in this period. The stock was trading at Rs54.85 on the BSE, up 10% from its previous close.
■ 10.15am: Bombay Dyeing & Mfg Co. Ltd rose 5% to Rs236.75. Since 22 August, the stock has surged over 200%.
■ 9.50am: BSE Sensex traded higher by 92.67 points, or 0.29%, to 31,939.56, while the Nifty 50 rose 24.85 points, or 0.25%, to 10,013.60.
■ 9.45am: Infosys Ltd rose 1% to Rs933 after the company fixed 1 November as record date for payment of interim dividend and buyback.
■ 9.43am: Tata Teleservices Maharashtra Ltd fell 13%. The stock fell for second session after news report said that the company will shut down its operations.
■ 9.40am: Larsen & Toubro Ltd added 1.2% to Rs1,154.15 after the company said it has won a Rs1,361 crore contract to supply 5 million smart electricity meters, according to state-owned Energy Efficiency Services Ltd (EESL), which is procuring the devices.
■ 9.25am: BSE Sensex opened higher by 97.50 points, or 0.31%, to 31,944.39, while the Nifty 50 rose 28.55 points, or 0.29%, to 10,017.30.
■ 9.22am: Metal stocks were trading higher after the government imposed anti-dumping tax on some steel imports from China. Steel Authority of India Ltd rose 2.4%, JSW Steel Ltd 2.2%, Jindal Steel & Power Ltd 1.1%, National Aluminum Co. Ltd 1.1%, Tata Steel Ltd 1% and Hindalco Industries Ltd 1%.
■ 9.20am: Biocon Ltd gained 2.5% to Rs352 after the company said in a notice to BSE that US FDA issued a complete response letter for Mylan’s biologics licence application for MYL-1401H—a proposed biosimilar pegfilgrastim.
■ 9.18am: Lupin Ltd rose 1.8% to Rs1,060.95 after the company said it got US FDA approval for a generic hypertension drug Corgard, which has a market size of $109 million.
■ 9.15am: The rupee opened at 65.31 a dollar. At 9.15am, the home currency was trading at 65.28 against the dollar, up 0.15% from its Monday’s close of 65.36.
■ 9.13am: The 10-year bond yield was at 6.779%, compared to its previous close of 6.78%. Bond yields and prices move in opposite directions.
■ 9.10am: Asian currencies were trading higher. China offshore spot was up 0.43%, China renminbi 0.38%, South Korean won 0.30%, Singapore dollar 0.29%, Taiwan dollar 0.21%, Malaysian ringgit 0.2%, Indonesian rupiah 0.17% and Thai baht 0.09%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.532, down 0.15% from its previous close of 93.675.
With inputs from Reuters and PTI