Mumbai: The BSE Sensex opened higher on Friday after closing at a record higher in the previous session. The broader NSE’s Nifty, too, rose in the morning hours. The Indian rupee weakened against the US dollar. The shares of Kotak Bank, Tata Motors and Cipla rose, whereas the shares of ICICI Bank and Bharti Airtel fell.
■ 9.25am: BSE Sensex opened higher by 53.89 points, or 0.16%, to 33,201.02, while the Nifty 50 rose 3.70 points, or 0.04%, to 10,347.50.
■ 9.23am: Yes Bank Ltd fell 9% to Rs300 after the bank reported a sharp rise in bad loans on Thursday following the Reserve Bank of India’s supervisory assessment. The central bank’s assessment of Yes Bank’s gross bad loans was Rs6,355.20 crore more than what the lender had reported at the end of March.
■ 9.20am: Biocon Ltd fell 4.5% to Rs349 after the company reported a lower-than-expected profit of Rs68.8 crore for the quarter ended September, a decline of 53% from Rs146.7 crore a year ago, as sales growth slowed and expenses increased.
■ 9.17am: United Spirits Ltd rose 6.8% to Rs2,751.30 after the company said standalone net profit rose 86% in the quarter ended September, helped by a strong performance by its premium brands. Profit rose to Rs153.1 crore in the three months from Rs82.5 crore a year ago. Revenue rose to Rs6,245.1 crore from Rs6,051.2 crore, the company owned by Diageo Plc. said in a filing with the BSE.
■ 9.15am: The rupee opened at 65.02 a dollar. At 9.15am, the home currency was trading at 65.06 against the dollar, down 0.35% from its Thursday’s close of 64.82.
■ 9.13am: The 10-year bond yield was at 6.811% compared to its previous close of 6.811%. Bond yields and prices move in opposite directions.
■ 9.10am: Asian currencies were trading lower as dollar climbed to three month high after the US house passed a budget resolution on tax reforms and as speculation mounted a hawkish candidate may lead the Federal Reserve. European Central Bank announced that it will be buying bonds for a longer time, even as it plans to halve monthly purchases, Bloomberg reported.
South Korean won was down 0.33%, Indonesian rupiah 0.26%, Malaysian ringgit 0.15%, Thai baht 0.15%, Japanese yen 0.14%, Taiwan dollar 0.12%, Singapore dollar 0.06%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.795, up 0.20% from its previous close of 94.612.