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Markets Live: Sensex, Nifty trade flat, M&M shares rise 3%

LiveMint logoLiveMint 31-05-2017 Livemint

Mumbai: The BSE Sensex falls slightly in the opening trade. The NSE Nifty50 trades flat in the morning trade. The Indian rupee, tracking Asian currencies, rises against the US dollar. The shares of United Spirits and Mahindra & Mahindra (M&M) rise whereas the shares of Jet Airways fall.

9.34am: BSE Sensex trades lower by 11 points, or 0.04%, to 31,148, while the Nifty 50 rises 4 points, or 0.04%, to 9,628.

9.30am: Jet Airways India Ltd fell 2% to Rs450.05 after the company recorded a 91% decline in March quarter net profit as higher income was more than offset by costlier fuel, lower airfares, higher capacity and weak demand from the key Gulf region. Its net profit during the quarter fell to Rs36.80 crore from Rs397.16 crore a year ago. Total income during the quarter was Rs5,759.58 crore, against Rs5,451.28 crore a year ago.

9.25am: United Spirits Ltd rose 8% to Rs2,230 after the company reported Ebidta of Rs265 crore, up 128% from a year ago.

9.20am: Mahindra & Mahindra Ltd rose 3.3% to Rs1,407 after the company said its net profit in the March quarter increased 26.3% from a year before. Profit after exceptional items in the three months rose to Rs874 crore from Rs691.51 crore a year ago. Revenue and other income—that earned from avenues other than its business operations—grew 5.2% to Rs12,289 crore

9.15am: The rupee opened at 64.53 a dollar. At 9.15am, the rupee was trading at 64.56, up 0.17% from its Monday’s close of 64.67.

9.10am: The 10-year bond yield was trading at 6.662% compared to its previous close of 6.663%. Bond yields and prices move in opposite directions.

9.00am: Asian currencies were trading higher. South Korean won was up 0.38%, Taiwan dollar 0.32%, China renminbi 0.2%, China Offshore 0.17%, Malaysian ringgit 0.14%, Philippines peso 0.05%. However, Japanese yen was down 0.26%, Singapore dollar 0.05%.

8.55am: Overnight US markets closed slightly lower. S&P 500 lost 0.12% to 2,412 on selling in energy shares. According to Bloomberg Asian markets opened lower amid concerns about British election.

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