MARKETS LIVE:Sensex turns flat, Nifty holds10450 as oil prices rise

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SI Reporter | New Delhi Last Updated at January 4, 2018 10:05 IST

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Benchmark indices turned flat amid caution as oil prices hovered at 2 1/2-year highs on anti-government protests in Iran that began last week rattled Tehran’s clerical leadership and left 21 people dead so far, raising concerns about supply.

Meanwhile, Asian shares scaled a 10-year high on Thursday as solid economic data from the United States and Germany reinforced investors’ optimism

However, US Federal Reserve policymakers showed worry over the fate of currently low inflation and saw recent tax changes as providing a boost to consumer spending, according to the minutes of the US central bank’s last policy meeting on Dec. 12-13 released on Wednesday

Back home, Investors are awaiting corporate results, including from Tata Consultancy Services and Infosys that are scheduled next week, amid signs the economy is recovering after the withdrawal of high-denomination currency bills in late 2016 and the introduction of a national goods and services tax last year.

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10:04 AM

CEO Salil Parekh to earn a fourth of what Vishal Sikka signed up at Infosys

Salil Parekh will earn an annual salary of Rs 162. 5 million ($ 2.55 million) as the CEO of Infosys, which is a quarter of what Infosys had signed up with his high profile predecessor Vishal Sikka, who quit the firm after three years in turmoil.

The compensation also reflects the reality at Infosys and its chairman Nandan Nilekani who would like the low profile senior executive to execute a vision of focused delivery for customers than over promise and under delivery that would be in contrast with the company's culture.

Sikka, who had a tumultuous three-year stint at Infosys, had signed up $ 11 million package including stock options. However, in fiscal 2017, the last of the three-year term, Sikka earned Rs 451 million ($ 7 million), after he struggled to grow business faster in a volatile business environment and the battle he was facing internally with the entrenched system at Infosys. READ MORE

9:41 AM

Sebi eases 'scheme of arrangement' rules for listed companies

Markets regulator Sebi on Wednesday relaxed disclosure, promoters' share lock-in and listing related compliance requirements for listed firms undertaking 'schemes of arrangement' such as mergers and demergers, including those involving subsidiaries and their divisions.

The move is aimed at expediting the processing of draft schemes.

The decision has been taken after Sebi received representations suggesting improvements to the existing regulatory framework, the Securities and Exchange Board of India (Sebi) said in a circular. READ MORE

9:27 AM Sectoral Trend

Source: NSE

9:20 AM Top Sensex gainers and losers

Source: BSE

9:17 AM Markets at Open

S&P BSE Sensex	33,912.30	0.35%

Nifty 50	10,486.05	0.41%

S&P BSE 200	4,663.87	0.30%

Nifty 500	9,439.35	0.00%

S&P BSE Mid-Cap	17,840.22	0.12%

S&P BSE Small-Cap	19,428.15	0.43%

9:14 AM

Oil prices rise

Oil prices hovered at 2 1/2-year highs as the anti-government protests in Iran that began last week rattled Tehran’s clerical leadership and left 21 people dead so far, raising concerns about supply.

US West Texas Intermediate (WTI) crude futures traded at $61.84 per barrel, having risen to as high as $61.97 a barrel, their highest level since June 2015.

First Published: Thu, January 04 2018. 09:39 IST