Mumbai: The market made a strong start on Tuesday as the Sensex surged 111 points, mainly driven by domestic investors and aided by positive Asian shares. Moreover, the broader NSE Nifty reclaimed the key 10,000 level. Sectoral indices such as capital goods, metal, IT and healthcare moved in the positive zone. The gauge had gained 254.86 points in the previous two sessions.
Uninterrupted buying by domestic financial institutions (DIIs) and widening of exposure by retail investors ahead of second quarter earnings season amid a firming trend in the Asian region steered the show, according to traders. Hong Kong’s Hang Seng was up 0.04% and Japan’s Nikkei rose by 0.38% in early deals. China’s Shanghai Composite, however, dropped 0.15%. US Dow Jones Industrial Average ended 0.06% down on Monday. Here are the latest updates from the markets:
■ 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 hits 10% upper circuit after the company said it is in pact with Reliance Infra for acquiring its Mumbai operations. Reliance Infra up 2%.
■ 10.17am: Religare Enterprises hits upper circuit for 7th sessions & rose 51% in this period. The stock was trading at Rs54.85 on BSE, up 10% from its previous close.
■ 10.15am: Bombay Dyeing & Mfg Co. Ltd rose 5% to Rs236.75. Since 22 August the stock 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 PTI