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Market live: Sensex, Nifty open flat

LiveMint logoLiveMint 26-05-2017 Livemint

Mumbai: On Friday, the 30-share benchmark S&P BSE Sensex opened flat, with the Nifty holding on to 9500-mark after Thursday’s record high. The Sensex was up 15.98 points at 30766.01, while the Nifty was down 6.85 points at 9502.90.

Here are the latest highlights and updates:

9.40am: Maruti Suzuki India ltd hits Rs 7000 mark first time. The stock gained over 33% so far this year. Of the analysts covering the stock, 41 have a “buy” rating, ten have a “hold” rating, while three have a “sell” rating, shows Bloomberg data.

9.35am: BSE Sensex was trading higher by 37.74 points, up by 0.12%, at 30,787. 22, while the NSE Nifty 50 rises 9.35 points, up by 0.10%, at 9,519.10.

9.25am:Cipla Ltd fell 3% to Rs488.45 after the company reported consolidated losses in the March quarter to Rs61.79 crore from Rs92.83 crore a year ago.

Indian Oil Corp Ltd fell 3% to Rs425.90. The company said fiscal fourth-quarter profit surged 85% to Rs3,721 crore, boosted by higher refinery margins.

ITC Ltd rose 1.1% to Rs303 ahead of its March quarter earnings. According to 25 Bloomberg analyst estimates, the company may post net profit of Rs2,682.70 crore while net sales will be at Rs1,1853.50 crore.

Manappuram Finance Ltd rose 5.5% to Rs93.60 after the company reported 53.5% increase in its net profit in March quarter to Rs200.58 crore from Rs130.70 crore a year ago.

State Bank of India (SBI) fell 0.6% to Rs288.40. SBI picked Bank of America Corp. and Deutsche Bank AG to arrange a share sale that could raise about $2 billion, according to Bloomberg report.

Dr Reddy’s Laboratories Ltd rose 1.8% to Rs2, 470.75 after the company informed the stock exchanges that the US Food and Drug Administration (USFDA) has completed the audit of its formulations at unit II in Srikakulum’s special economic zone (SEZ) in Andhra Pradesh on Thursday.

9.20am: The rupee opened at 64.56 a dollar. At 9.15am, the rupee was trading at 64.55, up 0.12% from its Thursday’s close of 64.62. So far this year, the rupee has gained 5.1%, while foreign investors bought $7.74 billion and $10 billion in local equity and debt markets, respectively.

9. 10am: The 10-year bond yield was trading at 6.663% compared to its previous close of 6.664%. Bond yields and prices move in opposite directions.

9am: Asian stock markets are mixed Friday as investors weighed Wall Street’s latest gains on strong earnings reports against the latest oil production cut, which dragged down crude prices and commodity shares. Japan’s benchmark Nikkei 225 index slipped 0.3% to 19,761.98 but South Korea’s Kospi climbed 0.4% to 2,353.07. Hong Kong’s Hang Seng dipped less than 0.1% to 25,619.42 and the Shanghai Composite index in mainland China climbed 0.3% higher to 3,117.47. Australia’s S&P/ASX 200 lost 0.8% to 5,7474.80. Taiwan’s benchmark fell and indexes in Southeast Asia were mixed.

8.50 am: Benchmark US crude lost 6 cents to $48.84 a barrel in electronic trading on the New York Mercantile Exchange. The contract shed $2.46, or 4.8%, to settle at $48.90 a barrel on Thursday. Brent crude, the international standard, rose 3 cents to $51.49 a barrel in London.

8.45am: The dollar dipped to ¥111.66 from ¥ 111.84 in late Thursday trading. The euro rose to $1.1190 from $1.1209.

8.40 am: US markets hit a fresh record high on Thursday. The Dow Jones Industrial Average rose 70.53 points, or 0.34%, to 21,082.95, the S&P 500 gained 10.68 points, or 0.44%, to 2,415.07 and the Nasdaq Composite added 42.23 points, or 0.69%, to 6,205.26

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