BackLive: Rupee closes 20 paise stronger against US dollar at 63.65
Here are the key developments affecting the domestic and international markets today
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5:00pm: The Indian rupee closed at 63.65, up 0.32% from its previous close of 63.85.
3:30pm: The S&P BSE Sensex closes 0.49%, or 135.68 points, higher at 27,780.83, while the Nifty ends 0.60%, or 50.10 points, higher at 8,368.50.
3:12pm: The S&P BSE Sensex rises 0.57%, or 156.31 points, to 27,801.46, while the Nifty gains 0.59%, or 48.70 points, to 8,367.10.
1:48am: The S&P BSE Sensex trades flat at 27,651.05, up 5.90 points, or 0.02%.
1:45pm: IT stocks decline with TCS and Tech Mahindra down 1.5% each, while HCL Technologies falls 1.2%.
1:35pm: Palred Technologies is trading 4.9% higher from its previous closing after its subsidiary has offered Ptron HDMI Cables with 1.5 meter length at just ₹ 99 with free shipping on LatestOne.com.
1:20pm: Bharat Petroleum Corp. Ltd (BPCL) is trading 0.7% higher after the company bought 19.97% stake in Petronet CCK (PCCKL) from a financial institution. Petronet CCK was joinlty promoted by BPCL and Petronet India and financial institutions. After the acquisition, PCCKL will become a subsidiary of BPCL, with BPCL holding 68.97%.
1:10pm: Among the top Sensex gainers are Coal India (2.35%), Lupin (up 2.26%) and Sun Pharma (2.16%).
1:08pm: Indian stocks slip into the red, with the S&P BSE Sensex falling 25.29 points, or 0.09%, to 27,619.86.
12:45pm: Firstsource Solutions gains 1.2% as its arm Firstsource Group USA Inc. repays first quarterly debt amounting $11.25 million
12:30pm: Rajesh Exports Ltd jumps 3.7% to ₹ 320.25 ahead of its board meeting on 2 July to consider an acquisition in Europe, in the same line of business.
12:15pm: The rupee is currently trading at 63.73 per dollar compared with its previous close of 63.85, according to prices from local banks compiled by Bloomberg
12:01pm: India’s 10-year sovereign bonds headed for their biggest monthly decline in almost two years as the prospect of inadequate monsoon rains clouded the outlook for inflation and interest rates. The yield on the notes due May 2025 climbed 22 basis points in June to 7.86% as of 11:45am in Mumbai, according to prices from RBI’s trading system. That’s the biggest increase for benchmark 10-year debt since August 2013. The yield fell 3 basis points.
11:45am: Suven Life Sciences Ltd climbs 4% to ₹ 235.40 after the company said in a notice to BSE that it has secured three product patents in Israel, Japan and South Africa.
11:30am: China stocks rise sharply in intense trading volatility. The CSI300 index rises 3.8%, while the Shanghai Composite Index gains 2.4%. China CSI300 stock index futures for July rise 7.9%.
11:07am: The S&P BSE Sensex is currently trading higher by 15.67 points, or 0.06%, at 27,660.82.
10:54am: Sun Pharmaceutical Industries Ltd adds 2.4% to ₹ 869.90. Brokerage firm Credit Suisse said the drug maker has taken price increases in six of Ranbaxy’s branded products in the US in May 2015.
10:48am: Marksans Pharma Ltd climbs 8.4% to ₹ 63.70 after the company said in a notice to BSE that its arm Marksans Pharma Inc. has acquired 100% stake in Time-Cap Laboratories Inc in New York.
10:40am: Coal India Ltd jumps 2% to ₹ 416.20. Morgan Stanley has maintained its ‘overweight’ outlook on Coal India with a target price of ₹ 530 per share.
10:30am: Bharti Airtel Ltd rises 2% to ₹ 421.15 on a media report that said the company is pumping in $1 billion (around ₹ 6,400 crore) in this fiscal year to ramp up pan-India 3G coverage, expanding the network in new and existing circles to deploy data spectrum purchased in March.
10:18am: Canara Bank slips 1% to ₹ 281.15, while Bank of India is down 1.3% to ₹ 169.80 after rating firm Moody’s downgraded both the banks to ba3 from ba2 on account of rise in non-performing assets.
10:14am: Voltas Ltd falls 3.3% to ₹ 318.75 after brokerage firm Nomura downgraded the stock to reduce from buy. It also reduced its target price to ₹ 265 a share.
10:10am: Brigade Enterprises Ltd advances 18.4% to ₹ 159.90, while Kansai Nerlolac Paints Ltd gains 4.3% to ₹ 221. Brigade Enterprises will acquire 16 acre property at Perungudi, Chennai from Kansai Nerolac for ₹ 550 crore.
10:05am: Deep Industries Ltd surges 16.4% to ₹ 89.95 after the company said in a notice to BSE that it has signed the contract with ONGC for hiring of gas dehydration system for five production installations at their Rajahmundry Assets for a period of three years, the value of the said contract being ₹ 278.19 crore.
10:00am: Sterlite Technologies Ltd climbs 5.1% to ₹ 84.30, while Aksh Optifiber Ltd rises 2.6% to ₹ 15.90 ahead of the Digital India programe which will be launched by Prime Minister Narendra Modi on Wednesday.
9:55am: Gammon Infrastructure Projects Ltd climbs 20% to ₹ 12.82 after the company said in a notice to BSE that Indira Container Terminal Pvt. Ltd (‘ICTPL’), one of the joint venture SPV of the company, has accepted the Mumbai Port Trust (MbPT) proposal for alternative use of the offshore container terminal for roll-on/roll-off operations for a period of one year from the date of operation, with revenue share of 45% to ICTPL and 55% to MbPT.
9:50am: Gleanmark Pharmaceuticals Ltd rises 2.1% to ₹ 993.50 after the company received US FDA nod for cholesterol tablet Ezetimibe.
9:45am: Sectoral indices—BSE FMCG and metal indices are top gainers, up 0.8% each, while the BSE IT and Bankex indices are top losers, down 0.4% each.
9:42am: The Sensex is trading lower by 0.07%, or 20.30 points, at 27,624.85, while the 50-share CNX Nifty of the National Stock Exchange (NSE) is down 0.02%, or 1.90 points, to 8,316.50.
9:30am: Indian stocks open flat, taking cues from Asian stock markets, as investors awaited developments in Greece.
9:25am: The yield on India’s 10-year benchmark bond is trading flat at 7.89%.
9:20am: The Indian rupee strengthens to 63.76 per dollar compared with its previous close of 63.85, as traders pared their dollar positions. Read more
9:15am: The euro held on to gains after surging against the dollar, trading at $1.1216.
The dollar is steady at 122.68 yen. The safe-haven yen had advanced as far as 122.11 overnight, its highest since late May.
9:10am: US crude oil futures extend their fall after skidding more than 2% on Monday to three-week lows. Brent crude futures are down 16 cents at $61.85 a barrel, while US crude drop 20 cents to $58.13.
9:06am: Chinese stocks tumble to their lowest levels in almost three months as traders unwound margin positions. The Shanghai Composite Index sinks 4.1%. The measure has plunged 25% from its 12 June peak, ending the nation’s longest-ever bull market.
9:02am: Asian shares edge up after Monday’s rout. MSCI’s broadest index of Asia-Pacific shares outside Japan is up 0.1%, while Japan’s Nikkei stock index adds 0.2%.
8:58am: Fears about the fallout of the Greek crisis have roiled global markets. The CBOE Volatility “fear" index, a measure of the premium traders are willing to pay for protection against a drop in the S&P 500, jumped more than 30% to a nearly five-month high.
8:55am: In overnight trading on Wall Street, all three major stock indices tumble, with the Dow Jones industrial average shedding 1.95%, the S&P 500 losing 2.09^ and the Nasdaq Composite dropping 2.4%.
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