Highlights
- 11.18 am ISTMarket update
- 11.15 am ISTCoal India shares decline on lower dividend
- 11.13 am ISTMan Infraconstruction shares gain
- 11.10 am ISTSuzlon Energy shares rise on receipt of order
- 10.25 am ISTAvanti Feeds, Apex Frozen Foods shares fall
- 9.58 am ISTBanking stocks trade lower
- 9.55 am ISTAndhra Bank shares down after ED files case against former director
- 9.53 am ISTHindalco Industries shares fall after downgrade
- 9.50 am ISTIndia must lead the transition to green energy
- 9.47 am ISTRupee trades higher against US dollar ahead of key CPI, IIP data
- 9.35 am ISTMarket update
BSE Sensex and NSE Nifty open higher on Monday. Photo: Mint
- Mumbai: BSE Sensex rose 300 points on Monday against the previous session’s closing. The broader Nifty also rose past 10,300 level in the opening trade. The Indian rupee was trading higher against the US dollar ahead of key Consumer Price Index-based (CPI) inflation and Index of Industrial Production (IIP) data due on Monday after 5.30pm. According to Bloomberg analysts’ estimate, IIP for January will be at 6.4% from 7.1% a month ago, while CPI for February will be 4.74% versus 5.07% last month. Here are the latest updates from the markets:
- 11.18 am IST Market updateBSE Sensex traded higher by 320.02 points, or 0.96%, to 33,627.16, while the Nifty 50 rose 101.05 points, or 0.99%, to 10,327.90. All the sectoral indices on BSE traded higher with IT gaining most at 1.86%, teck 1.57 and FMCG 1.40. BSE MidCap and SmallCap 0.26% and 0.39%, respectively.
- 11.15 am IST Coal India shares decline on lower dividendCoal India Ltd shares fell 1.6% to Rs300 after the company paid lower-then-expected dividend for the financial year 2017-18. On Sunday, Coal India approved dividend of Rs16.50 a share. As of December 2017, government holds 78.55% stake in Coal India and it is expected to get around Rs8044 crore dividend. Last fiscal year, it gave around Rs12,350 crore dividend to government.
- 11.13 am IST Man Infraconstruction shares gainMan Infraconstruction Ltd shares gained 2.1% to Rs55.25 after the company said it got order worth Rs221 crore from Pimpri Chinchwad.
- 11.10 am IST Suzlon Energy shares rise on receipt of orderSuzlon Energy Ltd shares rose 1.5% to Rs11.19 after the company said it got 75 MW repeat order from independent producer via Maharashtra bid.
- 10.25 am IST Avanti Feeds, Apex Frozen Foods shares fall Avanti Feeds Ltd shares were down 1%, Apex Frozen Foods Ltd fell 1.2%. US Department of Commerce has suggested a hike in anti-dumping duty on Indian shrimp to 2.34% from 0.84%, Bloomberg reported.
- 9.58 am IST Banking stocks trade lowerBanking stocks fell. Central Bank of India declined 5%, IDBI Bank 3.5%, Oriental Bank of Commerce 3.3%, Canara Bank 3%, Allahabad Bank 2.1%, Union Bank of India 1.8%, Bank of India 1.6%, Indian Bank 1.5%, Syndicate Bank 1.1%, Indian Overseas Bank 1.1%, State Bank of India 1%, Punjab National Bank 0.9% and Bank of Baroda fell 0.5%.
- 9.55 am IST Andhra Bank shares down after ED files case against former directorAndhra Bank shares fell 12% to Rs34 after Enforcement Directorate on Friday filed a supplementary prosecution complaint (chargesheet) against former Andhra Bank director Anup Prakash Garg in connection with a Rs5,000 crore bank fraud involving the Vadodara-based Sterling Biotech Ltd (SBL) of the Sandesara group of companies.
- 9.53 am IST Hindalco Industries shares fall after downgradeHindalco Industries Ltd shares declined 1% to Rs218 after brokerage firm CLSA has downgraded the stock to sell and lowered its price target to Rs205 a share from Rs285 earlier.
- 9.50 am IST India must lead the transition to green energyThe fight against climate change is likely to create the next big technological wave, an opportunity for India.
India must lead the transition to green energy https://t.co/6zbHSFEA8P
— Livemint (@livemint) March 11, 2018 - 9.47 am IST Rupee trades higher against US dollar ahead of key CPI, IIP dataThe Indian rupee was trading higher against the US dollar ahead of key Consumer Price Index-based (CPI) inflation and Index of Industrial Production (IIP) data due on Monday after 5.30pm. The home currency opened at 64.95 a dollar. At 9.15am, the rupee was at 64.96, up 0.33% from its previous close of 65.17. Yields on 10-year government bonds was at 7.697% compared to Friday’s close of 7.671%. Bond yields and prices move in opposite directions.
- 9.35 am IST Market updateBSE Sensex traded higher by 263.82 points, or 0.79%, to 33,570.96, while the Nifty 50 rose 89.80 points, or 0.88%, to 10,316.65.