Highlights

2.38 pm ISTMarket update
2.35 pm ISTHCC says news about Lavasa bankruptcy misleading
2.30 pm ISTForeign investors sell $2.33 billion of debt in February
2.27 pm ISTRupee trades higher against US dollar
1.32 pm ISTMarket update
1.28 pm ISTAsian stocks mixed
1.25 pm ISTDish TV India, Videocon D2H completes merger
12.20 pm ISTMarket update
12.17 pm ISTAIA Engineering declares Rs8 interim divident
12.13 pm ISTCox and Kings unit sells stake in Prometheon Holdings UK
11.32 am ISTBandhan Bank sets issue price at Rs375
11.30 am ISTBrooks Labs gets WHO-GMP certificate
11.27 am ISTITI shares rise 5%
10.50 am ISTMarket update
10.48 am ISTONGC shares rise 2%
10.42 am ISTHCC shares sink 12% on report of possible bankruptcy of unit Lavasa
10.40 am ISTSBI shares decline on report of Rs842.15 crore fraud
9.45 am ISTMarket update
9.43 am ISTSun Pharma shares gain after USFDA nod for plaque psoriasis drug
9.40 am ISTOil equipment companies trade higher as oil prices surge
9.37 am ISTFertiliser stocks trade higher
9.35 am ISTUS Fed goes for 25bps rate hike in Jerome Powell’s 1st meeting as chairman
9.33 am ISTRupee strengthens against US dollar
9.30 am ISTMarket update

BSE Sensex and NSE Nifty trade lower on Thursday. Photo: Mint

Mumbai: Indian shares rose on Thursday, led by energy and financial stocks, ahead of the expiry of derivatives contracts and after the US Federal Reserve raised interest rates while retaining its view for three hikes this year. The Fed raised interest rates and forecast at least two more hikes for 2018, signalling growing confidence that US tax cuts and government spending will boost the economy and inflation and lead to more aggressive tightening in future. Domestically, traders are also awaiting cues from the roll-over of monthly derivatives contracts later in the day. (Reuters) Here are the latest updates from the markets:
2.38 pm IST Market updateBSE Sensex traded lower by 31.88 points, or 0.10%, to 33,104.30, while the Nifty 50 declined 12.35 points, or 0.12%, to 10,142.90. BSE MidCap and SmallCap fell 0.62% and 0.75%, respectively. Among the sectoral indices on BSE, metal, energy and capital goods traded higher, while realty, telecom and industrials declined.
2.35 pm IST HCC says news about Lavasa bankruptcy misleadingHindustan Construction Co. Ltd said the news item published in DNA that the company’s unit Lavasa Corp. may file bankruptcy was misleading and without any basis. “Lavasa Corp. Ltd has been working jointly with the consortium of lenders for a financial solution for Lavasa,” said HCC in a BSE filing. HCC shares traded 13.84% down at Rs24.90.
2.30 pm IST Foreign investors sell $2.33 billion of debt in FebruaryForeign institutional investors (FIIs) have sold nearly $2.33 billion in debt over the last one month as worries that widening current account deficit, higher fiscal deficit target and prospects of further rate hikes in the US may led to monetary tightening by the Reserve Bank of India.
2.27 pm IST Rupee trades higher against US dollarThe Indian rupee and Asian currencies on Thursday strengthened against US dollar after the Federal Reserve stuck to its outlook of three rate hikes this year. The home currency was trading at 65.05 a dollar, up 0.26% from its Wednesday’s close of 65.21. The rupee opened at 65.12 a dollar and touched a high and a low of 65.02 and 65.14, respectively. The 10-year bond yield was at 7.595% compared to its previous close of 7.583%.
1.32 pm IST Market updateBSE Sensex traded lower by 99.44 points, or 0.30%, to 33,036.74, while the Nifty 50 declined 29.40 points, or 0.29%, to 10,125.85.
1.28 pm IST Asian stocks mixedChina stocks fell as investors digested the impact of a rate hike by the US Federal Reserve and as concerns over a potential trade war between the world’s largest and second-largest economies intensified. At the close, the Shanghai Composite index was down 0.5%, while the CSI300 index was down 1%. Meanwhile elsewhere in Asia, MSCI’s Asia-Pacific index was flat, while Japan’s Nikkei gained 1.0%. (Reuters)
1.25 pm IST Dish TV India, Videocon D2H completes mergerDish TV India Ltd said that the merger of Videocon D2H Ltd into the company has been completed effective 22 March. Dish TV India shares rose 2.65% to Rs67.70.
12.20 pm IST Market updateBSE Sensex traded lower by 29.08 points, or 0.09%, to 33,107.10, while the Nifty 50 declined 9.65 points, or 0.10%, to 10,145.60.
12.17 pm IST AIA Engineering declares Rs8 interim dividentAIA Engineering Ltd said its board of directors declared an Interim dividend of Rs8 per share for the financial year 2017-18. Shares traded 0.56% lower at Rs1396.
12.13 pm IST Cox and Kings unit sells stake in Prometheon Holdings UKCox and Kings Ltd said that its unit Prometheon Enterprises Ltd has sold 11.58% stake in Prometheon Holdings (UK) Ltd to SSG Capital Management. Shares fell 1.32% to Rs239.90.
11.32 am IST Bandhan Bank sets issue price at Rs375Bandhan Bank Ltd has set the issue price for its initial public offering at Rs375, Reuters reports. The Rs4,470 crore Bandhan Bank IPO witnessed an overall subscription of 14.6 times. The proceeds from the fresh issue will be used to augment the bank’s tier-I capital base to meet future capital requirements of the bank.
11.30 am IST Brooks Labs gets WHO-GMP certificateBrooks Laboratories Ltd shares rose 1.62% to Rs87.70 after the company said its Vadodara, Gujarat, facility received WHO-GMP certificate.
11.27 am IST ITI shares rise 5%ITI Ltd shares rose 5% to Rs122 after the government approved selling 18 crore shares of the company.
10.50 am IST Market updateBSE Sensex traded higher by 126.40 points, or 0.38%, to 33,262.58, while the Nifty 50 rose 34.50 points, or 0.34%, to 10,189.75. Among the sectoral indices on BSE, energy, consumer durables and FMCG traded higher, whereas power, utilities and metal traded lower. ONGC, Tata Motors, Sun Pharma and RIL were top gainers, while Tata Steel, Wipro, Adani Ports and ICICI Bank were among the major losers.
10.48 am IST ONGC shares rise 2%Oil & Natural Gas Corp Ltd shares rose 2% to Rs179 after international crude oil prices jumped past $65 a barrel mark
10.42 am IST HCC shares sink 12% on report of possible bankruptcy of unit LavasaHCC Ltd shares fell 12% to Rs25.45. According to DNA newspaper, Lavasa Corp Ltd, arm of HCC, is planning to declare bankruptcy and considering approaching the National Company Law Tribunal (NCLT) owing to challenges faced in raising money for project completion.
10.40 am IST SBI shares decline on report of Rs842.15 crore fraudState Bank of India shares fell 0.6% to Rs246 following a news report that Kanishk Gold has defrauded a loan amount worth Rs842.15 crore, lent by a SBI-led consortium of 14 public and private banks
9.45 am IST Market updateBSE Sensex traded higher by 122.41 points, or 0.37%, to 33,258.59, while the Nifty 50 rose 49 points, or 0.48%, to 10,204.25.
9.43 am IST Sun Pharma shares gain after USFDA nod for plaque psoriasis drugShares of Sun Pharmaceuticals Industries Ltd rose 3% to Rs520 after the company said it has received USFDA approval for an innovative medicine, marking a milestone in the company’s bid to diversify out of generic drugs by building a portfolio of novel ones protected by patents. Sun Pharma’s drug Ilumya was approved by the US regulator to treat adults with moderate to severe cases of the skin condition plaque psoriasis, who are also candidates for systemic therapy or phototherapy
9.40 am IST Oil equipment companies trade higher as oil prices surgeOil equipment companies were trading higher after international crude oil surged. Aban Offshore Ltd rose 3%, Dolphin Offshore Enterprises India Ltd rose 5%, Oil Country Tubular Ltd rose 2.2%.
9.37 am IST Fertiliser stocks trade higherFertiliser stocks trading higher. Rashtriya Chemicals & Fertilizers Ltd rose 4%, Nagarjuna Fertilizers gains 3%, Gujarat State Fertilizers 1%, National Fertilizers 3%, Fertilizers & Chemicals Travancore 3%, Mangalore Chemicals 1.5% and Chambal Fertilisers 1%
9.35 am IST US Fed goes for 25bps rate hike in Jerome Powell’s 1st meeting as chairmanUS Federal Reserve officials, meeting for the first time under chairman Jerome Powell, raised the benchmark lending rate a quarter-point and forecast a steeper path of rate hikes in 2019 and 2020, citing an improving economic outlook.
US Fed goes for 25bps rate hike in Jerome Powell"s first meeting as chair https://t.co/Lw5vXWG02M
— Livemint (@livemint) March 21, 2018
9.33 am IST Rupee strengthens against US dollarThe Indian rupee and Asian currencies on Thursday strengthened against US dollar after the Federal Reserve stuck to its outlook of three rate hikes this year. The rupee opened at 65.12 a dollar. The home currency was trading at 65.14 a dollar, up 0.11% from its Wednesday’s close of 65.21. The 10-year bond yield was at 7.573% compared to its previous close of 7.583%
9.30 am IST Market updateBSE Sensex traded higher by 31.23 points, or 0.09%, to 33,167.41, while the Nifty 50 rose 13.05 points, or 0.13%, to 10,168.30.