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Market Live: Sensex, Nifty open higher, oil, pharma stocks gain

LiveMint logoLiveMint 14-09-2017 Livemint

Mumbai: The BSE Sensex opened higher on Thursday against the previous session’s closing. The broader NSE’s Nifty, too, rose in the morning hours. The Indian rupee was trading at a one-week low against the US dollar, tracking losses in the Asian currencies markets. The shares of Sun Pharma, Axis Bank and Reliance Industries Ltd rose, whereas the shares of Wipro and M&M fell.

The government will issue wholesale price inflation (WPI) after 12.30pm for the month of August. According to Bloomberg analysts’ estimates, WPI will be at 3.2% in August compared to 1.88% in July.

Here are the latest updates from the markets:

■ 9.30am: BSE Sensex opens higher by 89 points, or 0.28%, to 32,276, while the Nifty 50 rises 36 points, or 0.36%, to 10,106.

■ 9.27am: Oil marketing companies stocks are trading higher. Bharat Petroleum Corp. Ltd rises 4%, Hindustan Petroleum Corp. Ltd gains 3%, while Indian Oil Corp. Ltd advances 3.4%.

■ 9.25am: Reliance Communications Ltd falls 1.7% to Rs21.45 after the company said Sweden’s Ericsson has filed insolvency petitions against the telecom company and two of its subsidiaries before the National Company Law Tribunal (NCLT) in Mumbai.

■ 9.22am: Pharma stocks are trading higher. Sun Pharmaceuticals Industries Ltd rises 3.2%, Dr Reddy’s Laboratories Ltd 1.4%, Lupin Ltd 1%, Cipla Ltd 1%, Divi’s Laboratories Ltd 3.4%, Strides Shasun Ltd 2.2%, Glenmark Pharma 2% and Aurobindo Pharma 1.7%.

■ 9.20am: Religare Enterprises Ltd adds 5% to Rs49. Stake held by SGGD Projects Development Pvt. and associated entities drops to 2.11% from 17.56% as lenders transferred the shares to themselves that were pledged as collateral by the investors.

■ 9.17am: Tata Chemicals Ltd rises 1.7% to Rs647 after the company said it is in talks with Indorama Holdings to sell its Haldia unit.

■ 9.15am: The rupee opens at 64.17 a dollar and touched a low of 64.18 — a level last seen on 7 September. At 9.15am, the rupee was trading at 64.14 a dollar, down 0.22% from its Wednesday’s close of 63.99.

■ 9.13am: The 10-year bond yield is at 6.595% compared to its previous close of 6.586%. Bond yields and prices move in opposite directions.

■ 9.10am: Asian currencies are trading lower ahead of key data on China’s economy and U.S. inflation that will offer a guide for global economic growth and central bank actions. U.S. consumer-price and China’s August industrial production data due on Thursday. South Korean won was down 0.4%, Philippines peso 0.31%, Indonesian rupiah 0.29%, Malaysian ringgit 0.18%, Taiwan dollar 0.16%, China renminbi 0.11%, China Offshore 0.06%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 92.463, down 0.07% from its previous close of 92.52.

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