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Sensex up 69 points as investors eye August derivative expiry; Indigo falls 2%

Livemint logo Livemint 24-08-2016 Livemint

The benchmark BSE Sensex regained the 28,000-mark on Wednesday on renewed buying by participants in auto, teck and IT counters amid mixed global cues.

Moreover, short-covering of positions by speculators in view of tomorrow’s August monthly derivatives contract expiry contributed to the upmove. The gauge had gained 4.67 points in the previous session. 

Here are the updates:

3:30pm: The BSE Sensex ended higher by 69.73 points, or 0.25%, to 28,059.94.

2:35pm: BSE Sensex is trading higher by 43.59 points, or 0.16%, to 28,032.72, while the Nifty rises 5.65 points, or 0.07%, to 8,638.25.

2:20pm: Punj Lloyd Ltd rises 11% to `22 after the company said it has selected the lowest bidder in Ministry of Defence contract to upgrade ZU23 guns.

2:10pm: The rupee weakens against the US dollar at 67.12 per dollar, down 0.09% from its previous close of 67.06, tracking losses in the Asian currencies markets. The rupee opened at 67.15 per dollar and touched a high and a low of 67.09 and 67.16 respectively.

1:50pm: Interglobe Aviation Ltd falls 2% to `880 after CNBC TV report that Tigerair to take back 11 jets sub-leased to the company.

1:35pm: Cyient Ltd rises 3.3% to `532.40 after the company said in a notice to BSE that its board will meet on 29 August to consider special dividend.

1:20pm: BSE Sensex is trading higher by 26.42 points, or 0.09%, to 28,016.63, while the Nifty rises 6 points, or 0.07%, to 8,638.60.

1:10pm: Strides Shasun Ltd rises 2.4% to `980.50. The company said in a notice to BSE that it received US FDA Approval for Ranitidine Tablets.

1:00pm: Tata Motors Ltd falls 1.7% to `494.80. The stock fell for the fourth consecutive sessions and down 3% in this period. The company will announce its June quarter earnings on Friday. According to 23 Bloomberg analyst, the company may post net profit of `2,533.20 crore and according to 24 Bloomberg analyst, it may post net sales of `65,111 crore.

12:50pm: Dewan Housing Finance Corp Ltd rises 2.4% to `278.60. The company has filed draft red hearing prospectus with Securities Exchange Board of India to raise `10,000 crore via public sale of bonds.

12:40pm: Indian Oil Corp Ltd rises 3% to `557.75 after the company said its board will meet on 29 August to consider bonus shares issue.

12:30pm: Lupin Ltd falls 2.5% to `1,516.10. The stock fell 13.5% since 1 August to till date and so far this year it fell 17.5%.

12:20pm: Diamond Power Infrastructure Ltd rises 5% to `40.60. Diamond Power Infrastructure Ltd has informed BSE that the Core Committee of the Lenders of the Company met on 23 August. E&Y presented their evaluation on all responses received from various financial and strategic investors and decided to recommend to Joint Lenders Forum that the offer received from Jiangsu Longzhe is best offer, the modalities and terms sheet of Jiangsu Longzhe was discussed in details to finalize the next steps of the transactions.

12:10pm: Logistics firms are trading higher. Gateway Distriparks Ltd rises 5%, Transport Corp Of India Ltd rises 2.8%, VRL Logistics Ltd rises 1.8%.

12:00pm: Pharma stocks are trading higher. Aurobindo Pharma up 5%, Torrent Pharma Ltd up 4.4%, Divi’s Laboratories Ltd 1.5%, Cipla Ltd 1.5%, Marksans Pharma 1.5%, Cadila Healthcare Ltd 1.3%, Gleanmark Pharma Ltd 1.3%, Wockhardt Ltd 1.1%,

11:50am: Banking stocks are trading lower. Karnataka Bank falls 1%, Andhra Bank 0.8%, Syndicate Bank 0.5%, Yes Bank 0.5%, South Indian Bank 0.5%, Bank of India 0.4%, Indian Overseas Bank 0.4%, State Bank of India 0.4%, IDBI Bank 0.4%, Bank Of Baroda 0.3%, Central Bank of India 0.3%.

11:40am: BSE Sensex is trading higher by 37.79 points, or 0.14%, to 28,028, while the Nifty rises 10 points, or 0.12%, to 8,642.60.

11:30am: Jai Corp Ltd falls 3% to `75.25 after the company reported 41.7% decline in its net profit to `6 crore in June quarter against `10.3 crore a year ago.

11:20am: Gillette India Ltd falls 2% to `4,599.90. The company reported a 35.42% decline in its net profit to `46.90 crore in June quarter on account of a drop in oral care segment sales.

11:10am: Maruti Suzuki India Ltd rises 2.2% to `4,938. Rating firm CLSA has upgraded the stock to Buy from Outperform and raised its target to `5,850 a share from `5,000 a share.

11:00am: Aurobindo Pharma Ltd rises 4% to `764.25. The company on Tuesday said fiscal first-quarter profit rose 24% on better sales of generic drugs in US and Europe. Net profit rose to `585.5 crore in the quarter ended June compared to `472.5 crore in the same period last year, while revenue grew 13% to `3,726 crore.

10:50am: Eclerx Services Ltd rises 2.8% to `1,605.90. The company said in a notice to BSE that its board will meet on 29 August to consider buyback of shares.

10:40am: Majesco Ltd rises 5.6% to `512. Majesco , a global provider of core insurance software, consulting and services for insurance business transformation, and Elafris, Inc., a supplier of an artificial intelligence powered chatbot messaging platform, announced that Elafris has joined the Majesco Partner EcoSystem to enhance insurers’ customer communication and payment experience.

10:30am: Engineers India Ltd rises 4% to `241 after the company said its net profit rose 50% in June quarter to `80.30 crore against `53.51 crore a year ago. Total income fell 11.74% to `396.40 crore.

10:20am: Castrol India Ltd falls 0.5% to `414.95. The company, a unit of oil major BP Plc, is selling an up to $261 million stake in Castrol India Ltd in a block trade on Wednesday, according to a termsheet seen by Reuters. The BP unit is selling shares at between `385 to `415.5 apiece, the termsheet showed.

10:10am: Welspun India Ltd hit lower circuit for the third day. The stock fell 10% to `59.30. In last three days it fell 42%. Target Corp is ending all business with Welspun India Ltd, one of the world’s biggest textile manufacturers, after saying the supplier was sending it phony Egyptian cotton sheets.

10:00am: The 30-share S&P BSE Sensex is currently trading higher by 56.26 points, or 0.20%, to 28,046.47, while the Nifty 50 of the National Stock Exchange (NSE) rises 11.50 points, or 0.13%, to 8,644.10.

9:50am: Idea Cellular Ltd falls 3.5% to `97.30. Idea Cellular and Vodafone are in ‘exploratory’ talks for a possible merger, reported CNBC-TV 18. While Vodafone on its part has declined to comment on this news, Idea Cellular has called it “false and baseless”.

9:40am: The Indian rupee on Wednesday weakens against the US dollar at 67.14 per dollar, down 0.12% from its previous close of 67.06, tracking losses in the Asian currencies markets.

9:30am: The 10-year bond yield is trading at 7.16%, compared with its Tuesday’s close of 7.159%.

9:25am: In currency markets, the spike in new US home sales pushed the dollar to 94.6 against a trade-weighted basket of currencies after a drop of more than 2% so far this month.

9:20am: Brent crude falls 0.7% to $49.61 a barrel, while US West Texas Intermediate (WTI) crude slips 0.9% to $47.65 in early deals.

9:10am: MSCI’s broadest index of Asia-Pacific shares outside Japan eases 0.3% in early trade. It has risen more than 14% since late June to hit a 1-year high last week. Japan’s Nikkei rises 0.4%. Elsewhere in the region, Hong Kong slides as investors sold financials, while mainland China markets inches higher.

9:00am: Asian stocks consolidated recent gains on Wednesday, helped by Wall Street’s rise overnight, even as oil prices slid after a surprise build in US crude stocks.

8:50am: The Dow Jones industrial average rose 17.88 points, or 0.1%, to 18,547.3, the S&P 500 gained 4.26 points, or 0.2%, to 2,186.9 and the Nasdaq Composite added 15.48 points, or 0.3%, to 5,260.08.

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