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Markets live: Sensex, Nifty jump in opening trade, Tata Steel shares rise

LiveMint logoLiveMint 15-05-2017 Livemint

Mumbai: BSE Sensex opens higher in the opening trade. The broader Nifty, too, rises on Monday morning. The Indian rupee, tracking Asian currencies, trades higher against the US dollar. The shares of ICICI Bank and Tata Steel rise, while that of Infosys and Cipla fall. Here are the latest updates.

9.30am: BSE Sensex trades higher by 140 points, or 0.46%, to 30,328, while the Nifty 50 rises 37 points, or 0.39%, to 9,438.

9.25am: UCO Bank lost as much as 8.03% to Rs38.10 per share as it narrowed its loss to Rs588.19 crore during the March quarter as provisions for bad assets fell. The bank had a net NPA (non-performing assets) ratio of 8.94% at the end of March. It reported negative returns on assets consecutively for the past two years. Return on assets stood at -0.75% at the end of March 2017 and -1.25% at the end of March 2016.

9.23am: Inox Wind lost as much as 19.53% to Rs162.50 per share after its consolidated net profit dipped 36% to Rs127.54 crore in the quarter ended 31 March. The company’s consolidated net profit was Rs201.12 crore in the corresponding quarter a year ago.

9.20am: Idea Cellular lost as much as 3.20% to Rs89.35 per share after it reported a consolidated loss of Rs325.6 crore in the three-month period ended 31 March. The company had posted a profit of Rs449.2 crore in the same period a year ago, bashed by a severe tariff war.

9.15am: The 10-year bond yield closed at 6.912% compared to its previous close of 6.942%. Bond yields and prices move in opposite directions.

9.12am: Titan lost as much as 3.53% to Rs477.05 per share after it reported only 7.4% increase in net profit to Rs200.71 crore for the fourth quarter ended 31 March. It had reported a net profit of Rs186.88 crore in the same quarter of 2015-16.

9.10am: JK Cement Ltd gained as much as 10.19% to Rs1,181 per share after its stand-alone net profit rose 30.43% to Rs91.37 crore for the March quarter against Rs70.05 crore for the same quarter last year. Revenue grew 7.74% to Rs1,018.85 crore against Rs945.69 crore for the same quarter last year.

9.08am: The rupee was trading at 64.05 a dollar, up 0.40% from its Friday’s close of 64.31. The rupee opened at 64.11 a dollar and touched a high and a low of 64.03 and 64.11, respectively.

9.00am: Asian currencies were trading higher. Malaysian ringgit rose 0.235%, South Korean won 0.202%, Thai baht 0.173%, Philippines peso 0.095%, Taiwan dollar 0.080%, Indonesian rupiah 0.075%, Singapore dollar 0.029%, Hong Kong dollar 0.028%, Japanese yen 0.01% and China renminbi 0.001%. However, China offshore was down 0.023%.

8.55am: Tepid US economic data and another missile test by North Korea are weighing on investor sentiment. Over the weekend, US markets closed slightly lower. S&P 500 at 2,390 points is down 0.15%.

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