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Markets live: Sensex, Nifty open higher on positive global cues, Lupin falls 7%

LiveMint logoLiveMint 25-05-2017 Livemint

Mumbai: The Benchmark 30-share S&P BSE Sensex rebounded about 123 points in early trade on Thursday on fresh buying by investors, tracking a firm trend in other Asian bourses. Short-covering of bets, today being the last session of May expiry in the derivatives segment, supported the recovery.

The 30-share index, which had lost 269.33 points in the previous two sessions, spurted by 122.99 points, or 0.40%, to 30,424.63. FMCG, realty, IT, capital goods, consumer durables, banking, teck, oil&gas, auto, PSU and metal sectors were leading the rally.

The NSE Nifty was also trading higher by 34.15 points, or 0.36%, at 9,394.70. Brokers said market sentiment improved largely in tandem with a firming trend at other Asian bourses, tracking overnight gains at Wall Street as minutes from the Federal Reserve’s latest policy meeting pointed to a June rate hike and indicated healthy US economy.

Here are the latest updates:

■ 10am: BSE Sensex is currently trading higher by 125.67 points, or 0.41%, to 30,427.31; Nifty 50 of the NSE rises 36.15 points, or 0.39%, to 9,396.70.

■ 9.40am: Lupin Ltd fell 7% to Rs 1143 after its consolidated net profit in the Mach quarter fell 49% from a year ago to Rs380.21crore, missing analysts’ estimates by a wide margin.

■ 9.35am: Dish TV India Ltd fell 7% to Rs85.60 after the company posted surprised net loss of Rs28.30 crore in March quarter. Its revenue fell 6.3% to Rs708.60 crore.

■ 9.30am: Videocon Industries Ltd hits lower circuit for fourth consecutive sessions. The stock fell 10% to Rs 52.55 a share. Since last four days it fell over 50%.

■ 9.25am: GVK Power & Infrastructure Ltd fell 8.3% to Rs 5.10 after the company said its net loss widened to Rs 205.85 crore in March quarter from Rs 105.59 crore a year ago.

■ 9.15am: The rupee opened at 64.56 a dollar. At 9.15am, the rupee was trading at 64.51, up 0.34% from its Wednesday’s close of 64.73.

■ 9.10am: The 10-year bond yield was trading at 6.673% compared to its previous close of 6.681%. Bond yields and prices move in opposite directions.

■ 9am: The dollar rose to 111.90 yen from 111.76 yen. The euro edged up to $1.1195 from $1.1185.

■ 8.50am: Asian currencies were trading higher. South Korean won was up 0.78%, Malaysian ringgit 0.33%, Taiwan dollar 0.32%, China renminbi 0.3%, Thai baht 0.22%, Indonesian rupiah 0.17%, Philippines peso 0.14%, China offshore 0.11% and Singapore dollar 0.08%. However, Japanese yen was down 0.11%.

■ 8.40am: US stocks rose for the fifth consecutive day Wednesday as investors went on a late buying spree. The gains came after news that the Federal Reserve plans to start reducing its huge portfolio of bonds. The Standard & Poor’s 500 index closed at a record high.

The Standard & Poor’s 500 index picked up 5.97 points, or 0.2%, to 2,404.39. The Dow Jones industrial average gained 74.51 points, or 0.4%, to 21,012.42. The Nasdaq composite rose 24.31 points, or 0.4%, to 6,163.02.

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