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Sensex rises; Bharti Airtel, India Cements shares gain

Livemint logo Livemint 18-08-2016 Livemint

The benchmark Sensex and Nifty indices were trading higher led by the gains in banking and metal stocks. Gains was also due to higher Asian markets after minutes of the US Federal Reserve’s latest meeting showed policymakers were in no rush to raise interest rates. The July meeting minutes released on Wednesday showed that Fed policymakers were generally upbeat about the US economic outlook and labour market. But they also said they wanted to “leave their policy options open” as any slowdown in hiring would argue against near-term monetary tightening, Reuters reported.

Here are the updates:

Live: Sensex trades 120 points higher; Power Grid, metal stocks gain: A file photo of the BSE building in Mumbai. Photo: Hemant Mishra/Mint© LiveMint A file photo of the BSE building in Mumbai. Photo: Hemant Mishra/Mint

3:30pm: The 30-share S&P BSE Sensex gains 118.07 points, or 0.42%, to 28,123.44.

2:30pm: The 30-share S&P BSE Sensex gains 110 points, or 0.40%, to 28,116.74, while the Nifty 50 of the National Stock Exchange (NSE) rises 43 points, or 0.50%, to 8,667.10.

2:25pm: The rupee was trading flat at 66.77 a dollar. The rupee opened at 66.86 a dollar and touched a high and a low of 66.75 and 66.87 respectively.

2:20pm: The 30-share S&P BSE Sensex gains 156 points, or 0.57%, to 28,165.19, while the Nifty 50 of the National Stock Exchange (NSE) rises 58 points, or 0.68%, to 8,682.60.

2:10pm: Sundram Fasteners Ltd rises 1% to `282. Since 3 August the stock gained 54%.

2:05pm: Jubilant Life Sciences Ltd rises 14% to `500.60. Since 3 August, the stock gained 54%.

2:00pm: Sun TV India Ltd rises 3.1% to `476.05 ahead of its June quarter earnings on 19 August. According to 11 Bloomberg poll estimates, the company may post net profit of `228.80 crore while net sales will be at `744.60 crore.

1:50pm: The 30-share S&P BSE Sensex gains 156 points, or 0.57%, to 28,165.19, while the Nifty 50 of the National Stock Exchange (NSE) rises 58 points, or 0.68%, to 8,682.60.

1:40pm: Bharti Airtel Ltd rises 2.1% to `352.40. Singtel is in pact with Temasek to acquire 21% of Intouch Holdings Public Co Ltd and 7.4% of Bharti Telecom Ltd for a total consideration of S$2.47 billion, according to BSE press release. The acquisitions will be settled fully in cash.

1:20pm: India Cements Ltd rises 2.3% to `126.75. The company posted a net profit of `43.98 crore in June quarter, up 16.35% from `37.80 crore a year ago. Net sales fell 1.54% to `1,202.49 crore.

1:15pm: Shares of tea and Coffee companies are trading higher. Tata Coffee Ltd rises 2%, Harrisons Malayalam Ltd 6.3%, Jay Shree Tea & Industries Ltd 8.1%, Mcleod Russel India 2%, Andrew Yule & Company Ltd 1%, Tata Global Beverages Ltd 1.2%, Bombay Burmah Trading Corp Ltd 2%.

1:00pm: Welspun Corp Ltd rises 4% to `87.35 after huge block deal. Around 2.01 million shares of the company changed hands in a single block deal. However, buyers and sellers of the deal were unknown, according to Bloomberg report.

12:50pm: The 30-share S&P BSE Sensex gains 146 points, or 0.52%, to 28,151.59, while the Nifty 50 of the National Stock Exchange (NSE) rises 51 points, or 0.59%, to 8,675.10.

12:40pm: Shares of sugar stocks are trading higher. Renuka Sugars Ltd rises 5%, Balarampur Chini Mills Ltd 3.7%, Mawana Sugars Ltd 10%, Dwarikesh Sugar Industries Ltd 5%, Andhra Sugars Ltd 6.3%, Bajaj Hindusthan Sugar Ltd 4.1%, Dalmia Bharat Sugar and Industries Ltd 8%, Oudh Sugar Mills Ltd 5%, Eid Parry India Ltd 2.2%.

12:15pm: Logistics stocks trading are higher on the back of higher volumes. Snowman Logistics rises 1.5%, GATI Ltd rose 3.1%, Allcargo Logistics Ltd 1%, VRL Logistics Ltd 4%, Patel Integrated Logistics Ltd 1.3%, Transport Corporation of India Ltd 4.3%.

12:00pm: Alphageo India Ltd rises 8% to `790. The company said its current order book stood at `1,528 crore. The company also said it is exploring offshore opportunities via partnerships.

11:40am: The 30-share S&P BSE Sensex gains 140 points, or 0.51%, to 28,147.71, while the Nifty 50 of the National Stock Exchange (NSE) rises 51 points, or 0.59%, to 8,675.15.

11:15am: Transport Corp of India Ltd rises 4.1% to `359.40 ahead of its June quarter earnings. According to 3 Bloomberg analyst poll, the company may post net profit of Rs 20.27 crore while net sales will be at `583.30 crore.

11:00 am: Banking stocks are trading higher. Indusind Bank rises 2.4%, Punjab National Bank 2.1%, Canara Bank 2.1%, Bank of Baroda 2%, Oriental Bank of Commerce 2%, Andhra Bank 1.6%, Union Bank Of India 1.7%, Allahabad Bank 1.6%, Kotak Mahindra Bank 1.5%, ICICI Bank 1.4%, IDBI Bank 1.4%, State Bank of India 1.3%, Dena Bank 1.2%, Bank of India 1.2%, Axis Bank up 1.1%.

10:50am: The 30-share S&P BSE Sensex gains 180 points, or 0.67%, to 28,194.18, while the Nifty 50 of the National Stock Exchange (NSE) rises 59 points, or 0.69%, to 8,683.85.

10:35am: Indian Bank gains 8% to `235.35. Indian Bank gained 200% since 29 February.

10:20am: Fortis Healthcare Ltd rises 2.5% to `192. According to CNBC TV deails of Fortis’s diagnositc business demerger may be announced tomorrow.

10:15am: Shree Cement Ltd rises 0.6% to `1,7210.10 ahead of its June quarter earnings. According to Bloomberg analyst poll, the company may post net profit of `351.10 crore while net sales will be at `1,989 crore.

10:10am: Shipping Corp Of India Ltd rises 1.2% to `74.05 ahead of its June quarter earnings. According to 2 Bloomberg analyst poll, the company may post net profit of `107.70 crore while net sales will be at `886.80 crore.

10:00am: The 30-share S&P BSE Sensex gains 104 points, or 0.37%, to 28,110.26, while the Nifty 50 of the National Stock Exchange (NSE) rises 35 points, or 0.42%, to 8,659.95.

9:55am: Uttam Galva Steels Ltd rises 14% to `33.30. According to Business Standard report Uttam Galva Metallics has signed an investment agreement of $150 million with China’s Tidfore Heavy Equipment Group Co. Limited, a deal galvanised by South Korean steel major Posco.

9:50am: Radico Khaitan Ltd rises 2% to `103.50. The company reported an increase of 25.2% in its standalone net profit at `21.5 crore for June quarter against `17.20 crore a year ago.

9:45am: Strides Shasun Ltd falls 2.6% to `1,031.70. Strides Shasun Ltd on Wednesday said its board has approved hiving off its active pharmaceutical ingredient (API) business into a subsidiary to give more focus. Strides posted a net profit of `26.04 crore for the quarter ended 30 June, largely driven by improved sales in regulated markets and institutional business, despite declining API business.

9:40am: The 30-share S&P BSE Sensex gains 120 points, or 0.45%, to 28,132.02, while the Nifty 50 of the National Stock Exchange (NSE) rises 32 points, or 0.37%, to 8,656.30.

9:30am: Metal stocks are trading higher. Bhushan Steel Ltd rises 6.7%, NMDC Ltd 3%, Jindal Steel and Power Ltd 1.2%, SAIL 1.1%, Hindustan Zinc 1.1%, Vedanta Ltd 1.1%, National Aluminum Co 1%, Hindalco Industries Ltd 0.7%.

9:25am: Gammon India Ltd rises 14% to `16.65. The company said it won `870 crore order from National Highways Authority Of India. Gammon Infrastructure Projects Ltd rose 4% to `4.82.

9:20am: Power Grid Corp. Of India Ltd rises 2% to `177.85. The company has posted a strong June quarter with 33% growth in standalone net profit to `1,801.77 crore. The total standalone income of the public-sector undertaking also rose 31% to `6,119.86 crore in April-June quarter this fiscal.

9:15am: The 10-year bond yield was trading at 7.10%, from its Tuesday’s close of 7.106%. Bond yields and prices move in opposite directions.

9:10am: The rupee opened at 66.86 a dollar. The home currency was trading at 66.84 a dollar, down 0.10% from its previous close of 66.77.

9:00am: The Indian rupee on Thursday weakened against the US dollar, from its previous close in the morning trade.

8:50am: MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.4% as investors added to positions after a 14% rise over the last two months. Hong Kong shares was the top gainer in Asia with a 1% rise, while a stronger yen, thanks to the Fed’s cautious outlook, pulled Japan’s Nikkei back 0.5%.

8:45am: Asian stocks rose and the greenback languished near two-month lows on Thursday after minutes of the US Federal Reserve’s latest meeting showed policymakers were in no rush to raise interest rates.

8:40am: The Dow Jones industrial average closed up 21.92 points, or 0.12%, to 18,573.94, the S&P 500 had gained 4.07 points, or 0.19%, to 2,182.22 and the Nasdaq Composite had added 1.55 points, or 0.03%, to 5,228.66.

8:30am: US stocks ended slightly higher on Wednesday after minutes from the Federal Reserve’s last policy meeting showed voting members divided over whether to raise interest rates soon.

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