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Markets Live: Sensex, Nifty open lower, Aditya Birla Money shares jump 17%

LiveMint logoLiveMint 05-04-2017 PTI

The BSE Sensex opens lower. The broader Nifty, too, falls on Wednesday morning. The shares of Aditya Birla Money Ltd rise 17% on the news of procuring a final licence from the Reserve Bank of India (RBI) for setting up a payments bank. The Indian rupee falls marginally against the US dollar, while Asian currencies rise in opening trade. The shares of Titan Co. Ltd rise 5%, while those of Dr Reddy’s Laboratories Ltd fall over 1%.

9.30am: BSE Sensex trades lower by 38 points, or 0.13%, to 29,873, while the Nifty 50 falls 0.70 point, or 0.01%, to 9,237.

9.27am: Dr Reddy’s Laboratories shares fall 1.7% to Rs 2,700.95 after the company said the audit of its API manufacturing plant at Srikakulam, Andhra Pradesh, by the US Food and Drug Administration (USFDA), was completed and was issued a Form 483 with two observations.

9.25am: Aditya Birla Money shares rise 17% to Rs38.70. Aditya Birla Idea Payments Bank Ltd becomes the seventh entity to receive a final licence from RBI to set up a payments bank, according to a stock exchange notification.

9.22am: Titan Co. shares rise 5% to Rs483.10 after the company said business in the second half of fiscal year 2016-17 exceeded its expectations despite demonetisation, after the maker of watches and accessories struggled in the first half due to a jewellery industry strike against excise duty and a new rule requiring customers to disclose their permanent account numbers for purchases above Rs2 lakh.

9.20am: KEC International Ltd shares rise 3.8% to Rs219.50 after the company said it has won an order worth Rs1,781 crore.

9.15am: The rupee opened at 65.08 a dollar. At 9.15am, the home currency was trading at 65.10, down 0.10% from its Monday’s close of 65.03.

9.10am: The 10-year bond yield was trading at 6.649%, compared to its previous close of 6.651%. Bond yields and prices move in opposite directions.

9.00am: Asian currencies were trading higher. Taiwan dollar was up 0.35%, Japanese yen 0.06%, Singapore dollar 0.06%, Japanese yen 0.05% and Indonesian rupiah 0.04%. However, Thai baht was down 0.21% and South Korean won 0.11%.

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