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PremiumMUMBAI :Mumbai: BSE Sensex and NSE Nifty recovered from losses to close marginally higher on Monday. The market opened lower as broader sentiment was dampened after Standard & Poor’s retained the country’s sovereign rating. The rating agency on Friday kept its India rating unchanged at the lowest investment grade of BBB–, with a stable outlook, citing a sizeable fiscal deficit, high general government debt and low per capita income.NTPC, Axis Bank and ONGC gained most, whereas Infosys, Tata Motors and Adani Ports were the top losers. Except metal, oil and gas, FMCG and IT, all the sectoral indices posted gains led by realty and power. Traders also await the gross domestic product (GDP) data for the third quarter due on 30 November. Here are the latest updates from the markets:
BSE Sensex closed higher by 45.20 points, or 0.13%, at 33,724.44, while the Nifty 50 gained 9.85 points, or 0.09%, to close at 10,399.55.
BSE Sensex traded higher by 39.96 points, or 0.12%, at 33,719.20, while the Nifty 50 inched up 6.60 points, or 0.06%, to 10,396.30.
The BSE Power gained most and was up 1.22%, realty rose 1.20%, utilities 0.85% and telecom 0.72%. Meanwhile, the Nifty Metal fell 0.76% and FMCG was down 0.20%.
BSE Sensex traded lower by 40.61 points, or 0.12%, at 33,638.63, while the Nifty 50 fell 16.80 points, or 0.16%, to 10,372.90.
European shares inched lower in early deals on Monday with most sectors moving in the red. The pan-European STOXX 600 index fell 0.3%. The German DAX benchmark was down 0.3%, while the Britain’s FTSE index lost 0.2%. (Reuters)
Steel Strips Wheels Ltd shares jumped 6.76% to Rs984.40 after the company said it has won an order to export 2,500 truck wheels.
Ashok Layland Ltd said it has renewed partnership agreement with Hino Motors Ltd Japan for development of Euro-VI engines. The company’s shares were trading 3.04% up at Rs122.
BSE Sensex traded lower by 108.38 points, or 0.32%, at 33,570.86, while the Nifty 50 fell 38.10 points, or 0.37%, to 10,351.60.
Ramco Systems Ltd shares surged over 5% to Rs435 after the company said it has won an order from Saudi Arabia-based Al Jazeera Support Services Co.
Cadila Healthcare said Zydus has received final approval from the US FDA to market topiramate extended-release capsules used for the treatment of seizures and migraine headaches. Cadila Helathcare shares were trading 0.72% lower Rs443.05.
BSE Sensex traded lower by 75.54 points, or 0.22%, at 33,603.70, while the Nifty 50 fell 30.90 points, or 0.30%, to 10,358.80.
Larsen & Toubro Ltd said its construction unit has won orders worth Rs3,572 crore across various business segments. Shares traded 0.75% higher at Rs1,225.45.
Kridhan Infra Ltd announced that its unit KH Foges Pte. Ltd. was awarded three new piling contracts worth Rs105.6 crore. The company’s shares rose 4.43% to Rs99.05.
Cupid Ltd rose 7% to Rs274 after the company said it won Rs13.60 million UNFPA order for supply of female condoms.
Sun Pharmaceuticals Industries Ltd fell 1% to Rs543.55 after the company said it will recall Riomet drug due to microbial contamination.
Mindtree Ltd rose 3% to Rs525.05 after brokerage firm Credit Suisse upgraded the stock to outperform from Neutral and increased its target price to Rs600 from Rs460 a share.
Videocon Industries Ltd rose 5% to Rs 13.45 after the company said it seeks shareholders nod for raising Rs2,000 crore via shares.
Satin Creditcare Network Ltd rose 3% to Rs400 after the company said it will raise fund from promoter, Nordic Microfinance, Kora Investment and IndusInd Bank Ltd. by way of issue of convertible warrants, equity and convertible preference shares
BSE Sensex opened lower by 99.05 points, or 0.29%, at 33,580.19, while the Nifty 50 fell 33.85 points, or 0.33%, to 10,355.85.
Banking stocks fell. Lakshmi Vilas Bank fell 2.8%, Syndicate Bank 1.7%, Corporation Bank 1.1%, Andhra Bank 1.1%, DCB Bank 1%, IndusInd Bank 1%, Union Bank of India 0.9%, Punjab National Bank 0.8%, Canara Bank 0.8% and State Bank of India 0.8%.
Oil and Natural Gas Corp. Ltd rose 2% to Rs183.30 after international crude oil prices jumped. Brokerage firm Credit Suisse has maintained its outperform rating on the stock and increased its target price to Rs220 from Rs190 a share
Adani Group stocks fell after Labor party closed in on majority in Queensland. Adani Enterprises Ltd fell 3%, Adani Ports 1% and Adani Power Ltd was down 1.1%.
Indian rupee was trading marginally lower against the US dollar tracking losses in its Asian peers. At 9.15am, the home currency was trading at 64.75 a dollar, down 0.07% from its Friday’s close of 64.70. The rupee opened at 64.74 a dollar.
Bond yield rose for the fifth consecutive session after traders were worried on inflation and fiscal slippages due to continued rise in crude oil prices that boosted speculations the Reserve Bank of India may not cut rates any time soon. The 10-year bond yield was at 7.035%, compared to its previous close of 7.003%. Bond yields and prices move in opposite directions.
Asian currencies were trading lower before US economic data and speeches by US Federal Reserve officials this week. South Korean won was down 0.31%, China offshore 0.15%, Taiwan dollar 0.11%, Indonesian rupiah 0.05% and Singapore dollar 0.05%. However, Japanese yen was up 0.12%, Hong Kong dollar 0.06% and Philippines peso rose 0.05%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 92.821, up 0.05%, from its previous close of 92.782.
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