Mumbai: The benchmark Sensex rose 113 points and the NSE Nifty regained 10,000 level on Thursday as domestic investors raised the bar ahead of key industrial output numbers to be released later in the day. Another record close on Wall Street after the release of the US Fed minutes fuelled the uptrend.
Building up of positions by participants ahead of key economic data—industrial production for August and consumer inflation for September—drove up domestic bourses. Japan’s Nikkei rose 0.47%, while Hong Kong’s Hang Seng moved up 0.17% in early trade. China’s Shanghai Composite, however, shed 0.24%. The US Dow Jones ended at a record high by surging 0.18% on Wednesday. Here are the latest updates from the market:
■ 11.40am: BSE Sensex rose 105.01 points, or 0.33%, to 31,939, while the Nifty 50 gained 36.20 points, or 0.36%, to 10,021.
■ 11.35am: The BSE Metal index rose 1.27% led by Hindalco, which was up 4.89%, National Aluminium 4.21%, Vedanta 1.67%, Jidnal Steel 1.62%.
■ 11.33am: Prakash Industries shares were up 3.88% to Rs136.50 after the company announced that it has secured additional 100% long-term coal linkage for sponge iron.
■ 11.31am: Shares of Zen Technologies rose 5.27% to Rs64.90 after the company said it has signed an export order worth Rs64 crore for lvie and virtual combat training systems.
■ 10.38am: BSE Sensex was up 94.61 points, or 0.30%, at 31,928.60, while the Nifty 50 gained 31.75 points, or 0.32%, to 10,016.55.
■ 10.35am: Indiabulls Real Estate Ltd rose 6.3% to Rs228.95 after the company said it will buy Singapore listed IPIT’s unit at S$0.90 each. Indiabulls Real Estate will pay S$289.6m to buyout Farllon Group’s 43% stake in Indiabulls Properties Investment Trust.
■ 10.30am: Indusind Bank gained 0.2% to Rs1720.40 ahead of its September quarter earnings. According to 15 Bloomberg estimates, the bank may report profit of Rs886.50 crore
■ 10.05pm: BSE Sensex rose 104.86 points, or 0.33%, to 31,938.85, while the Nifty 50 gained 34.95 points, or 0.35%, to 10,019.75.
■ 10.00am: Lakshmi Vilas Bank fell 5% to Rs134.35 after the bank reported 84% decline in its September quarter net profit to Rs10.50 crore against Rs64.85 crore a year ago due to Rs80.43 crore fraud relating to commodity finance transaction.
■ 9.55am: Banking stocks trading lower. Oriental Bank of Commerce fell 2.7%, Canara Bank 2%, Bank of India 1.4%, Bank of Baroda 1.2%, Union Bank of India 1.2%, Syndicate Bank 1.1%, Indian Bank 1.1%, Punjab National Bank 1.1%, Allahabad Bank 1.1%, Andhra Bank 1%, Dena Bank 0.8%, ICICI Bank 0.8%.
■ 9.53am: Reliance Nippon Life Asset Management Ltd sets price band for its initial public offering at Rs247-252 per share, reported Reuters. The Securities and Exchange Board of India issued its observations on the proposed IPO of Reliance Nippon on 5 October.
■ 9.25am: BSE Sensex opened little changed at 31,839.14, up 5.15 points, or 0.02%, while the Nifty 50 edged up 9.65 points, or 0.10%, to 9,994.45.
■ 9.23am: Sun Pharmaceuticals Industries Ltd added 3% to Rs541.85 after the company said in a notice to BSE that the US Food and Drug Administration (FDA) has cleared its manufacturing facility at Dadra, which was issued a Form-483 by the regulator earlier this year due to violation of good manufacturing practices (GMP).
■ 9.20am: Tata Consultancy Services Ltd rose 0.7% to Rs2516.70 ahead of its September quarter earnings due later on Thursday. According to 24 Bloomberg analysts, the company may post net profit of Rs6,283.50 crore while net sales will be at Rs3,0501.60 crore.
■ 9.17am: Reliance Industries Ltd gained 1% to Rs848.50 ahead of its September quarter earnings on Friday. Stand-alone quarterly net profit is likely to increase to Rs8,687.5 crore on revenue of Rs66,088 crore, according to a Bloomberg poll of seven analysts.
■ 9.15am: The rupee opened at 65.15 a dollar. At 9.15am, the home currency was trading at 65.13 against the dollar, up 0.01% from its Wednesday’s close of 65.14.
■ 9.13am: The 10-year bond yield was at 6.732%, compared to its previous close of 6.741%. Bond yields and prices move in opposite directions.
■ 9.10am: Asian currencies were trading higher after the Federal Reserve released a summary from its previous meeting that showed it believes the economy is strong enough to withstand another rate hike in December. Thai baht was up 0.14%, Philippines peso 0.11%, Indonesian rupiah 0.09%, Japanese yen 0.09%, Taiwan dollar 0.08%, Malaysian ringgit 0.04%. However, China Offshore was down 0.19%, China renminbi 0.06%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 92.875, down 0.15% from its previous close of 93.015.
With inputs from PTI and Reuters