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Markets Live: Sensex, Nifty open higher, Eicher Motors shares up 2%

LiveMint logoLiveMint 08-05-2017 Livemint

Mumbai: The BSE Sensex opens higher. The NSE Nifty, too, trades higher in the opening hours of Monday. The Indian rupee, tracking Asian currencies, rises against the US dollar. The shares of Eicher Motors and Ambuja Cements rise while those of Apollo Tyres fall. Here are the latest updates.

9.32am: BSE Sensex trades higher by 55 points, or 0.18%, to 29,914, while the Nifty 50 rises 21 points, or 0.22%, to 9,306.

9.30am: Ambuja Cements and ACC, the Indian units of the world’s biggest cement maker LafargeHolcim, are exploring a possible merger to combine the strengths of both the businesses. Ambuja cements Ltd shares rise 7%, ACC shares rise 5%.

9.25am: Eicher Motors Ltd shares rise 2.1% to Rs 26,386.05 after the company reported 34% increase in its net profit in March quarter to Rs459 crore while revenue rose 23.2% to Rs1,888 crore.

9.20am: Apollo Tyres Ltd shares fall 2% to Rs241.75 after the company reported 16% decline in its net profit in March quarter to Rs228.23 crore against Rs272.06 crore a year ago.

9.18am: Equitas Holdings Ltd shares fall 4% to Rs153.60 after the bank reported 85% decline in its net profit to Rs6.9 crore in March quarter against Rs46.80 crore a year ago.

9.15am: The rupee opened at 64.26 a dollar. At 9.15am, the rupee was trading at 64.25 a dollar, up 0.19% from its Friday’s close of 64.38.

9.10am: The 10-year bond yield was trading at 6.948% compared to its previous close of 6.943%. Bond yields and prices move in opposite directions.

9.00am: Asian currencies were trading higher. South Korean won was up 0.85%, Philippines peso 0.2%, Thai Baht 0.14%, Taiwan dollar 0.14%, Malaysian ringgit 0.13%, Singapore dollar 0.13%, Indonesian rupiah 0.08%. However, China Offshore was down 0.06%, Japanese yen 0.06%.

8.55am: Asian shares trade higher in early Monday trade following the landslide victory of Emmanuel Macron in the French polls on Sunday, with the Nikkei share average hitting its highest level since December 2015.

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