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Market Live: Sensex, Nifty jump in opening trade, DLF shares rise 3%

LiveMint logoLiveMint 23-08-2017 Livemint

Mumbai: The BSE Sensex opened higher on Wednesday against the previous session’s closing. The broader NSE Nifty, too, rose in morning hours. The Indian rupee opened stronger against the US dollar. The shares of Adani Ports, Bharti Airtel, and Dr Reddy rose, whereas the shares of Hindustan Unilever (HUL) and PowerGrid fell. Here are the latest updates:

■ 9.31am: BSE Sensex trades higher by 115 points, or 0.37%, to 31,407, while the Nifty 50 rises 37 points, or 0.38%, to 9,803.

■ 9.30am: DLF Ltd rose 3% to Rs183 after the company said its board would meet on 25 August for review the status of the proposed sale of compulsorily convertible preference shares to GIC.

■ 9.29am: Adani Ports shares rise 2% to Rs381.95 after brokerage firm Morgan Stanley initiated coverage with overweight and increased its target price by 25% to Rs 471 a share.

■ 9.28am: Fortis Healthcare Ltd rose 4% to Rs147.30 after Rekha Jhunjhunwala, wife of investor Rakesh Jhunjhunwala, bought 45 lakh shares or 0.9% stake in the company via bulk deal on Tuesday at Rs134.65 per share, data on the National Stock Exchange (NSE) of India showed.

■ 9.27am: Balaji Telefilms Ltd rose 3% to Rs158.15 after the company said its board has approved allotment of 2.52 crore equity shares to Mukesh Ambani-led Reliance Industries Ltd (RIL) for a total consideration of Rs413.28 crore.

■ 9.25am: Indo Count Industries Ltd rose 2.2% to Rs102.50 after the company denies rejection of orders by its customers.

■ 9.20am: Ashima Ltd rose 3.5% to Rs23.55 after the company said, in a notice to BSE, that it sold surplus land for a consideration of Rs160.89 crore.

■ 9.15am: Infosys Ltd fell 0.01% to Rs877.05. Days after the board of Infosys Ltd blamed N.R. Narayana Murthy for Vishal Sikka’s decision to step down as chief executive officer (CEO), the founder and former CEO of Infosys is set to address investors and assuage concerns, amid a broader tussle between the board and the founders that has severely dented investor confidence in the company and wiped out thousands of crores in market value.

In a highly anticipated address since Friday’s press conference announcing Sikka’s departure, Murthy will be speaking to investors at a conference hosted by brokerage firm Investec India.

■ 9.10am: The 10-year bond yield was at 6.542%, compared to its previous close of 6.535%. Bond yields and prices move in opposite directions.

■ 9.05am: The rupee opened at 64.05 a dollar. At 9.05am, the rupee was trading at 64.07 a dollar, up 0.07% from its Tuesday’s close of 64.11.

■ 9.00am: Asian currencies were trading higher. South Korean won was up 0.40%, Philippines peso 0.17%, Taiwan dollar 0.13% and China offshore 0.07%. However, Japanese yen was down 0.08%.

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