Highlights

12.15 pm ISTMarket update
12.05 pm ISTPVR in expansion overdrive, eyes 21 4DX screens by 2019-end
11.55 am ISTLIC trims stake in Mastek by 3.09%
11.23 pm ISTMarkets update
11.18 am ISTUnitech shares fall 6% after Supreme Court stays NCLT order
11.06 am ISTAsian stocks mixed ahead of Fed rate announcement
10.58 am ISTUS markets mixed ahead of Fed meet
10.49 am ISTCrude prices advance in US, London
10.43 am ISTDollar declines to 113.45 Japanese Yen, Euro strengthens
10.35 am ISTDairy companies’ shares surge up to 15%
10.20 am ISTJB Chemicals & Pharma shares rise after USFDA approves ANDA
10.05 am ISTCentury Textile shares fall 4%
9.48 am ISTSensex, Nifty trade marginally lower
9.40 am ISTDish TV shares up 2.37%, Bharti Airtel shares rise 1.6%
9.35 am ISTKalpataru Power shares rise nearly 4% on new orders
9.30 am IST10-year bond yield rises to fresh 17-month high
9.25 am ISTRupee opens marginally lower against US dollar
9.20 am ISTSensex, Nifty trade lower

BSE Sensex and NSE Nifty50 gained on Wednesday. Photo: Reuters

Mumbai: BSE Sensex and the NSE Nifty50 are in the green. Sensex fell 105 points on Wednesday in early trading after disappointing economic data forced investors to tighten their exposure. Surging oil prices and a sluggish trend in Asian markets brought pain, too. The 30-share gauge declined 104.55 points, or 0.31%, at 33,123.44. FMCG, banking and power indices retreated by up to 0.16%. The gauge had lost 227.80 points in the previous session. The NSE Nifty slipped 29.60 points, or 0.28%, to 10,210.55. Market mood took a hit after government data, released after trading hours yesterday, showed that industrial production growth hit a 3-month low of 2.2% in October and retail inflation jumped to a 15-month high of 4.88% in November. Here are the latest updates and developments from the markets:
12.15 pm IST Market updateBSE Sensex trades higher by 147.23 points, or 0.44%, to 33,375.22, while the NSE Nifty50 rises 51.60 points, or 0.50%, to 10,291.75.
12.05 pm IST PVR in expansion overdrive, eyes 21 4DX screens by 2019-endLeading multiplex operator PVR will increase the count of its 4DX screens to 21 by investing around $11 million (Rs70 crore) in the next two years, said a top company official. The Gurgaon-based company on Wednesday signed a deal with South Korea’s CJ 4DPLEX at Cine Asia 2017 to add 16 more screens as it is ramping up offering in the premium segment in metro markets. PVR Ltd’s shares were trading 0.51% higher at Rs1309.85 at 11.57am on the BSE.(PTI)
11.55 am IST LIC trims stake in Mastek by 3.09%State-owned Life Insurance Corporation (LIC) has reduced its stake in IT firm Mastek by 3.09% after selling 7.30 lakh shares in the open market. As per a BSE filing, LIC, which had 6.14% stake in Mastek earlier, brought down the shareholding in the company to 3.05%. LIC sold the stake between 18 December 2014 and 11 December 2017. Mastek had reported over two-fold increase in consolidated net profit to Rs17.5 crore for the quarter ended 30 September 2017. Its total income grew 59% to Rs204.1 crore for the said period. Shares of Mastek were trading at Rs402.60 apiece, up 4.03%, on BSE. (PTI)
11.23 pm IST Markets updateBSE Sensex trades higher by 125.41 points, or 0.38%, to 33,353.40, while the NSE Nifty50 rises 48.65 points, or 0.48%, to 10,288.80.
11.18 am IST Unitech shares fall 6% after Supreme Court stays NCLT orderUnitech Ltd falls 6% to Rs7.26 after Supreme Court stayed NCLT order which had directed take over of management of Unitech. Centre apologises, says should have taken leave of Supreme Court, PTI reported.Also read | Supreme Court stays NCLT order allowing govt to take control of Unitech
11.06 am IST Asian stocks mixed ahead of Fed rate announcementAsian stocks were mixed Wednesday following overnight gains on Wall Street as investors looked ahead to a likely US interest rate hike. The Shanghai Composite Index was unchanged at 3,279.43 while Tokyo’s Nikkei 225 lost 0.3% to 22,805.80. Hong Kong’s Hang Seng gained 0.5% to 28,925.73 and Seoul’s Kospi advanced 0.4% to 2,471.74. Sydney’s S&P-ASX 200 was unchanged at 6,015.00. Benchmarks in New Zealand and Singapore declined while Taiwan and other Southeast Asian bourses were higher. (AP)
10.58 am IST US markets mixed ahead of Fed meetIn the US, banks and other financial stocks led the gainers as the Fed met to discuss interest rates. Technology stocks declined the most. Energy stocks also fell as crude oil prices closed lower. Bitcoin futures fell on their second day of trading. The Standard & Poor’s 500 index rose 0.2% to 2,664.11. The Dow Jones industrial average gained 0.5% to 24,504.80. The Nasdaq composite lost 0.2% to 6,862.32.Also read | Surge in retail inflation in November brings RBI’s fears to reality The US central bank is expected to raise rates Wednesday for the third time this year, which allows banks to charge more to lend money. Even though inflation has remained low, the Fed has seen a path to gradually raise rates as the economy and labor market have strengthened. An increase of 0.25 percent in short-term interest rates “is as good as a done deal” based on options markets pricing, Mizuho Bank said in a report. Investors will be listening for any hints the Fed could pick up its pace on rate hikes next year.(AP)
10.49 am IST Crude prices advance in US, LondonBenchmark US crude rose 41 cents to $57.55 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 85 cents on Tuesday to $57.14. Brent crude, used to price international oils, advanced 61 cents to $63.95 in London. It plunged $1.35 the previous session. (AP)
10.43 am IST Dollar declines to 113.45 Japanese Yen, Euro strengthensThe dollar declined to 113.45 yen from Tuesday’s 113.54 yen. The euro strengthened to $1.1749 from $1.1739. (AP)
10.35 am IST Dairy companies’ shares surge up to 15%Dairy companies shares surged. Prabhat Dairy Ltd rose 15%, Parag Milk Foods 7.11%, Kwality Ltd 5%, Umang Dairies Ltd 8.4% and Vadilal Industries Ltd was up 1.3%.
10.20 am IST JB Chemicals & Pharma shares rise after USFDA approves ANDAJB Chemicals & Pharmaceuticals Ltd rose 2.6% to Rs306 after the company said the US drug regulator. US Food and Drug Administration (USFDA), approved its supplementary abbreviated new drug application or ANDA for atenolol tablets.
10.05 am IST Century Textile shares fall 4%Century Textile Ltd fell 4% to Rs1,328 after Grasim Industries said it will pay Rs600 crore to Century Textiles for rights to control its filament yarn business.
9.48 am IST Sensex, Nifty trade marginally lowerBSE Sensex trades lower by 32.23 points, or 0.10%, to 33,195.76, while the Nifty 50 falls 10.75 points, or 0.10%, to 10,229.40.
9.40 am IST Dish TV shares up 2.37%, Bharti Airtel shares rise 1.6%Dish TV India Ltd rose 2.37% to Rs82.10, while Bharti Airtel Ltd rose 1.6% to Rs532.35. Bharti Airtel and another group entity will sell a combined 20% in its DTH arm, Bharti Telemedia Ltd, to private equity firm Warburg Pincus for $350 million as India’s largest telecom company seeks to cut debt. The transaction will see Bharti Airtel sell 15% in Bharti Telemedia and another Bharti entity sell a 5% stake to an affiliate of the private equity firm, the telecom company said in a statement on Tuesday.
9.35 am IST Kalpataru Power shares rise nearly 4% on new ordersKalpataru Power Transmission Ltd rose 3.8% to Rs455.65 after the company said it got new orders worth Rs875 crore.
9.30 am IST 10-year bond yield rises to fresh 17-month highThe 10-year bond yield surged further for the fifth session to hit a fresh 17-month high after sharper-than-expected acceleration of CPI inflation reduced calls for further monetary easing in the near term. The 10-year bond yield was at 7.255%, a level last seen on 21 July 2016, compared to its previous close of 7.185%. Bond yields and prices move in opposite directions.
9.25 am IST Rupee opens marginally lower against US dollarThe Indian rupee opened marginally lower against the US dollar. The home currency was trading at 64.56 a dollar, down 0.25% from its Tuesday’s close of 64.40. It opened at 64.52 a dollar.
9.20 am IST Sensex, Nifty trade lowerBSE Sensex trades lower by 59.52 points, or 0.18%, to 33,168.47, while the Nifty 50 falls 21.90 points, or 0.21%, to 10,218.25.