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Market Live: Sensex, Nifty open higher, Wipro shares rise 6%

LiveMint logoLiveMint 21-07-2017 Livemint

Mumbai: The BSE Sensex opens higher on Friday against the previous session’s closing. The broader NSE’s Nifty, too, rose in the morning hours. The Indian rupee trades stronger against the US dollar. The shares of Wipro, Reliance Industries (RIL), NTPC and Infosys rise, whereas the shares of Bharti Airtel and Lupin fall.

■ 9.30am: Balaji Telefilms Ltd rose 7.2% to Rs200.05 after RIL acquired a 24.92% stake in film and television production house Balaji Telefilms Ltd in a deal worth Rs413.28 crore. The stake purchase will give RIL access to content generated by Balaji Telefilms for use by its telecom arm, Reliance Jio Infocomm Ltd.

■ 9.25am: Wipro Ltd rose 5.6% to Rs284. Wipro’s dollar revenue inched up 0.9% sequentially to $1.9 billion in the three months to June (0.3% rise in constant-currency terms). This better-than-expected show was primarily on account of higher spend from banking clients as the company reported a 4.1% sequential growth in BFSI (banking, financial services and insurance). The company also approved a Rs11,000 crore share buyback plan.

■ 9.20am: Jaiprakash Associates Ltd rose 6.3% to Rs24.50 after Ace investor Rakesh Jhunjhunwala bought 1.03% stake in the company during June quarter.

■ 9.15am: The rupee opened at 64.39 a dollar. At 9.15am, the rupee was trading at 64.38 a dollar, up 0.07% from its Thursday’s close of 64.43.

■ 9.10am: Reliance Industries Ltd rose 2% to Rs1,560 after the company reported a consolidated quarterly net profit increase of 28%, beating analysts’ estimates, helped by higher-than-expected refining and petrochemicals margins and a one-time gain.Net profit rose to Rs9,079 crore in the quarter ended June from Rs7,077 crore a year earlier.

■ 9.05am: The 10-year bond yield was at 6.449%, compared to its previous close of 6.452%. Bond yields and prices move in opposite directions.

■ 9.00am: South Korean won was up 0.26%, Philippines peso 0.15%, Thai baht 0.09% and Indonesian rupiah 0.05%. However, Taiwan dollar was down 0.14%, China offshore 0.1%, China renminbi 0.09% and Singapore dollar 0.06%.

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