Benchmark indices opened higher in trade today amid positive sentiment in global equities. Sensex rose 224 points to 38,418 and Nifty gained 64 points to 11,342. Later, Sensex extended gains and was trading 375 points higher at 38,565, Nifty too climbed 99 points to 11,376.
Here's a look at market action today.
10: 15 am: RIL share surges to an all-time high of Rs 2218 on investment from Silver lake in Reliance Retail.
10:00 am: Route Mobile IPO fully subscribed on Day 1
Route Mobile IPO comprises fresh issue of shares worth ?240 crore and an offer for sale (OFS) of ?360 crore by promoters which would result in promoter's stake reducing from 96.0% pre-IPO to 66.3% post-IPO.
9:55 am : Angel Broking on Route Mobile IPO
Keshav Lahoti, Associate Equity Analyst at Angel Broking said, "Route Mobile raised Rs 180 crore on Tuesday ahead of the IPO from 15 anchor investors. As expected by us, Route Mobile IPO is fully subscribed. Retail portion was most subscribed to 1.8 times. We expect the traction is going to be good for the IPO as a lot is left on the table for the investors. We also expect the IPO to be subscribed manifold. As we are positive on the future outlook for the industry as well as the Company, we have recommended to "Subscribe" to the issue for long term as well as for listing gains."
9: 45 am: Expert quote on Wipro contract with Mareli
Jyoti Roy, DVP- Equity Strategist, Angel Broking said, "Wipro has announced that they have entered into a multi-year global agreement for automotive engineering services to Marelli. Marelli is one of the world's leading global independent suppliers to the automotive sector with operational headquarters in Saitama, Japan and Corbetta, Italy. As part of this agreement, Wipro will leverage its EngineeringNXT framework and strong automotive engineering expertise to establish a software engineering factory for Marelli. While Wipro has not specified the deal size it is likely to be a multimillion dollar engagement. Marelli is already an existing customer of Wipro and the company has now managed to expand its relationship with the company. The deal bears out the fact that Indian IT services players are gaining market share at the expense of legacy players by expanding their relationship with existing clients who are looking at consolidating their vendors."
Happiest Minds IPO subscribed 151 times on Day 3
9: 30 am: Happiest Minds IPO received bids 151 times the issue size on Day 3 of the bidding process. The IPO received bids for 3,51,18,27,450 shares, 150.98 times the issue size of 2,32,59,550 shares. The share sale was subscribed over 8 times on Day 2 and 2.87 times on Day 1.
9: 25 am: Bajaj Auto, Titan and Tech Mahindra were top losers on Sensex, falling up to 1%.
9: 20 am : Top Sensex gainers were IndusInd Bank, Bajaj Finance and SBI rising up to 3% in early trade.
9:00 am Previous close
After a volatile session on Wednesday, Sensex and Nifty ended in the red. The benchmark Sensex ended 171 points, or 0.45%, lower at 38,193.92 while Nifty settled 32 points, or 0.28%, lower at 11,285.10. Traders said subdued global cues and lingering border tension with China continued to weigh on investors' sentiments.
8: 55 am: Global markets
The Dow Jones Industrial Average climbed 439.58, or 1.6%, to 27,940.47. The Nasdaq composite, which includes many tech stocks, rose 293.87, or 2.7%, to 11,141.56. It had dropped 10% over the previous three days.