Local stocks are trading higher in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 282.84 points or 0.74% at 38,476.76. The Nifty 50 index was up 73.45 points or 0.65% at 11,351.45.
The S&P BSE Mid-Cap index was up 1%. The S&P BSE Small-Cap index was up 1.5%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1262 shares rose and 247 shares fell. A total of 70 shares were unchanged.
Supreme Court hearing:
Bank and NBFC stocks will be focus as the Supreme Court will continue today hearing on two petitions seeking an extension of the moratorium period on repayment of loans and to waive off the interest on interest on the loan amount in view of the COVID-19 pandemic.
Stocks in news:
Indiabulls Housing Finance rose 0.67%. The company is in the process of exploring various options in connection with the partial divestment of its equity shareholding in OakNorth Bank Ltd, in one or more tranches. The divestment shall result in boosting CRAR and shall free up capital to grow the loan book of the company.
Indiabulls Ventures rose 0.85%. The company reported consolidated net profit slumped 89.09% to Rs 11.98 crore on 45.25% drop in total income to Rs 390.11 crore in Q1 June 2020 over Q1 June 2019.
Gujarat Ambuja Exports advanced 2.79%. The company has acquired 100% Equity shares of Mohit Agro Commodities Processing on 9th September 2020, making it a wholly owned subsidiary of the company.
Texmaco Infrastructure & Holdings fell 0.53%. The company's board approved raising up to Rs 250 crore through issue of equity shares and to increase borrowing limit to Rs 800 crore.
Godawari Power & Ispat rose 3.18%. Credit ratings of the company's subsidiary company Ardent Steel (ASL) has been upgraded by CARE Ratings on the basis of operational and financial performance of ASL for the FY 2019-20 and Q1FY21 on Long Term Bank Facilities Term Loan & Fund based has been upgraded.
Shriram EPC lost 4.14%. The company reported a consolidated net loss of Rs 29.85 crore in Q1 June 2020 as against net profit of Rs 6.45 crore in Q1 June 2019. Total income declined 65.86% to Rs 133.73 crore.
Global Markets:
Overseas, Asian stocks are mostly up on Thursday, with U.S. markets reversing their losses from Wednesday's U.S. big tech stocks selloff during the previous session.
In US, Wall Street's main indexes ended higher on Wednesday to snap a three-session losing skid as investors jumped back in to take advantage of the pullback in technology-related stocks.
Stay-at-home companies such as Facebook Inc and Google-parent Alphabet Inc climbed, while electric-car maker Tesla Inc rebounded nearly 11% after suffering its biggest one-day percentage drop.
US employers advertised more jobs but hired fewer workers in July. The Labour Department said Wednesday that the number of US job postings on the last day of July rose to 6.6 million from 6 million at the end of June. A year earlier, employers posted 7.2 million job openings. Hiring dropped to 5.8 million from 7 million in June. The number of Americans laid off or discharged fell to 1.7 million from nearly 2 million in June.
Later on Thursday, the European Central Bank (ECB) is expected to announce its interest rate decision as well as monetary policy statement. The ECB is reportedly expected to make no policy changes and reiterate it stands ready to adjust all of its instruments, as appropriate, at its policy meeting.
Back home, key equity benchmarks ended with modest losses on Wednesday. The S&P BSE Sensex, slipped 171.43 points or 0.45% at 38,193.92. The Nifty 50 index lost 39.35 points or 0.35% at 11,278.
Foreign portfolio investors (FPIs) sold shares worth Rs 959.09 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 263.97 crore in the Indian equity market on 9 September, provisional data showed.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)