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Market Live: Sensex rises 100 points, Nifty trades higher, Tata Steel shares up 3.6%

LiveMint logoLiveMint 12-09-2017 Livemint

Mumbai: The BSE Sensex opened higher on Tuesday against the previous session’s closing. The broader NSE’s Nifty, also, rose in the morning hours. The Indian rupee opened marginally weak against the US dollar. The shares of Tata Steel, Sun Pharma, Asian Paints rose, whereas the shares of Coal India and ONGC fell.

Government on Tuesday will issue IIP and CPI for the month of July and August month, respectively. According to the Bloomberg analyst estimates, IIP will be at 1.7% in July versus -0.1% last month while CPI will be 3.27% in August from 2.36% a month ago. Here are the latest updates from the markets:

■ 9.30am: BSE Sensex trades higher by 116 points, or 0.36%, to 31,998, while the Nifty 50 rises 33 points, or 0.33%, to 10,039.

■ 9.27am: Tata Steel Ltd rises 3.9% to Rs686.80. Thyssenkrupp AG could reach an in principle agreement this month to merge its European steel business with that of Tata Steel Ltd, the German group said on Monday, adding talks were constructive and had entered the final stretch.

■ 9.25am: Tata Coffee Ltd adds 15% to Rs169.35, while Liberty Shoes Ltd surged 16% to Rs281 after Porinju Veliyath-led Equity Intelligence bought 10 lakh shares or 0.55% stake in the Tata Coffee and 3.21 lakh shares or 1.81% stake in Liberty Shoes.

■ 9.23am: Sun Pharmaceutical Industries Ltd gains 2% to Rs474 after the company said it got US FDA nod for cholesterol drug, Fenofibrate tablet.

■ 9.20am: Speciality Restaurants Ltd falls 3% to Rs 120 after the company said its loss for the June quarter widened to Rs 15 crore from Rs 5.6 crore a year ago. Revenues fell 8% to Rs 72 crore against Rs 78 crore.

■ 9.17am: The rupee opens at 63.98 a dollar. At 9.15am, the rupee was trading at 63.99 a dollar, down 0.08% from its Monday’s close of 63.93.

■ 9.15am: The 10-year bond yield is at 6.566% compared to its previous close of 6.562%. Bond yields and prices move in opposite directions.

■ 9.10am: Asian currencies are trading lower. Indonesian rupiah was down 0.43%, China renminbi 0.24%, Malaysian ringgit 0.17%, China Offshore 0.15%, Philippines peso 0.07%. However, South Korean won was up 0.11%, Singapore dollar 0.07%, Japanese yen 0.06%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 91.886, up 0.01% from its previous close of 91.875.

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