Sensex, Nifty close flat ahead of Fed meet
- PNB fraud: Jewellery stocks lose shine, Gitanjali Gems shares tank 60%
- Donald Trump not satisfied with progress in Pakistan: White House
- LIVE: Canada PM Justin Trudeau to meet Narendra Modi today
- Opening bell: Asian markets rebound; Infosys, Fortis, Adani Transmission in news
- Bharti Infratel, Indus Towers planning merger to create telecom tower giant
The BSE Sensex struck a positive note on Wednesday before closing lower ahead of expected hike in US interest rates. Besides this, caution prevailed after retail inflation rose to the four-month high of 3.65% in February and the wholesale prices shot up to the 39-month high of 6.55%.
The Sensex had soared 540.69 points in the previous three sessions following the BJP’s landslide win in UP and Uttarakhand. The 30-share index was trading higher by 26.22 points, or 0.08%, at 29,468.85. A number of sectoral indices, led by consumer durables, healthcare, oil and gas, FMCG and infrastructure, were in the positive space.
The NSE index Nifty edged up by 3.40 points, or 0.03%, to 9,090.40. It had touched a life high of 9,087 on Tuesday. The increased buying momentum borne out by the fact that foreign funds purchased shares heavily lifted mood. Among other Asian markets, Shanghai Composite rose 0.10% while Hong Kong’s Hang Seng was down 0.18% in early trade on Wednesday. Japan’s Nikkei shed 0.29%. The US Dow Jones Industrial Average also ended 0.21% down on Tuesday.
3.30pm: BSE Sensex closed lower by 45 points, or 0.15%, to 29,398, while the Nifty 50 falls 2 points, or 0.02%, to 9,085
3.12pm: BSE Sensex trades lower by 46 points, or 0.16%, to 26,396, while the Nifty 50 falls 2 points, or 0.02%, to 9,085.
1.53pm: BSE Sensex trades lower by 24 points, or 0.08%, to 29,419 while the Nifty 50 rises 3 points, or 0.04%, to 9,090.
12.40pm: BSE Sensex trades lower by 15 points, or 0.05%, to 29,428, while the Nifty 50 rises 5 points, or 0.05%, to 9,092.
11.50am: Liquor stocks trade higher after VAT on wine beer and hard liquor lifted in the Karnataka budget. Radico Khaitan up 4%, GM Breweries up 2%, Globus Spirits up 3%, United Breweries Ltd 1.8% United Spirit up 2.6%, Empee Distilleries Ltd 5%.
11.45am: Tyre stocks trade higher. CEAT Ltd shares rise 2.9%, Apollo Tyre 1.6%, MRF 4.4%, Balkrishna Industries Ltd 2.7%, JK Tyre & Industries Ltd 3.1%.
11.40am: Idea Cellular Ltd shares rise 10% to Rs 113.35. According to CNBC report Idea to demerge tower business portfolio and sell majority stake to ATC Management.
11.27am: BSE Sensex trades higher by 4 points, or 0.02%, to 29,447, while the Nifty 50 rises 7 points, or 0.07%, to 9,094.
11.20am: IT stocks trade lower. Tata Consultancy Services Ltd shares fall 1.6%, Infosys Ltd 1.4%, Wipro Ltd 0.6%, Tech Mahindra Ltd fell 1%, HCL Technologies Ltd 1%.
11.10am: Indiabulls Ventures Ltd shares rise 10% to Rs41.80 after huge block deals. Around 18.36 million shares or 6.2% stake of the company changed hands in hands, according to Bloomberg report. However, details of buyers and sellers were not known.
11.00am: Reliance Communications Ltd shares rise 2% to Rs36.95 after the company said it received Stock Exchange and SEBI Approvals for proposed Demerger of Wireless Business into Aircel Ltd.
10.50am: McNally Bharat Engineering Co Ltd shares rise 6.3% to Rs56.70 after the company said it got order worth Rs 451.29 crore in Andhra Pradesh on EPC Basis for Andhra Pradesh Power Generation Corporation Limited
10.40am: PSU Banks trading higher. State Bank of India rose 1.6%, Bank of Baroda 3.5%, Bank of India 2.8%, Oriental Bank of Commerce 2.6%, Indian Bank 2.5%, Canara Bank 2.2%, Union Bank of India 2.1%, Allahabad Bank 2%, Syndicate Bank 2%.
10.30am: BSE Sensex trades higher by 36 points, or 0.12%, to 29,479, while the Nifty 50 rises 12 points, or 0.13%, to 9,099.
10.00am: Rupa & Co Ltd rose 12.2% to Rs 308.25. Oban Fashions Private Limited, a Wholly-Owned Subsidiary of Rupa & Company Limited, has, on March 09, 2017, entered into a License Agreement with Fruit of the Loom, INC., a New York Corporation, a Wholly-Owned Subsidiary of Berkshire Hathaway Company, whereby the said Wholly-Owned Subsidiary of Rupa & Company Limited has acquired the exclusive license from the said Fruit of the Loom, INC., to manufacture, distribute, advertise and sell innerwear and outerwear products for men, boys, women, girls and toddler in India, under their brand names and marks.
9.38am: BSE Sensex trades lower by 35 points, or 0.12%, to 29,408, while the Nifty 50 falls 6 points, or 0.07%, to 9,081.
9.32am: Glenmark Pharmaceuticals Ltd shares rise 2.2% to Rs910.75 after the company said its Ankleshwar plant gets establishment inspection report from US drug regulator.
9.30am: Biocon Ltd shares rise 2.5% to Rs1,117.80 after the company said it maintained biosimilar revenue guidance.
9.25am: Reliance Industries Ltd shares rose 1% to Rs1,301 after huge block deal. Around 12% stake or 388.70 million shares of the company changed hands in three block deal, Bloomberg reported. However, details of the buyers and sellers were not known.
9.22am: Amtek Auto Ltd shares rise 2.8% to Rs36.25 after Mint reported that its chairman and founder Arvind Dham has begun exploring options to monetise assets owned by him.
9.20am: NMDC Ltd shares rise 1.4% to Rs141 after ET reported that the company floated RFP to appointed advisers to sell Jagdalpur steel plant.
9.15am: The rupee opened at 65.76 a dollar and touched a high of 65.74, a level last seen on 6 November 2015. At 9.15am, the home currency was trading at 65.76, up 0.11% from its previous close of 65.82.
9.10am: The 10-year bond yield was trading at 6.894% compared to its Tuesday’s close of 6.903%. Bond yields and prices move in opposite directions.
9.00am: Asian currencies were trading marginally lower. Taiwan dollar was up 0.23%, Thai baht 0.13%, South Korean won 0.12%, Philippine peso 0.06% and Singapore dollar 0.06%. However, Japanese yen was down 0.07%.
With inputs from PTI