5:00pm: The Indian rupee closes marginally stronger against the dollar at 64.01 against its previous close of 64.17.
3:30pm: The S&P BSE Sensex closes 1.39%, or 373.62 points, higher at 27,251.10, while the CNX Nifty ends 1.34%, or 108.50 points, higher at 8,235.45.
Top five gainers
1. Axis Bank Ltd surges 4.81% to ₹ 558.40
2. ICICI Bank Ltd rises 3.21% to ₹ 318.45
3. GAIL India Ltd adds 2.82% to ₹ 377.10
4. Bharat Heavy Electricals Ltd (Bhel) advances 2.54% to ₹ 228.30
5. State Bank of India gains 2.52% to ₹ 274.15
3:06pm: The S&P BSE Sensex surges 1.52%, or 407.75 points, to 27,285.23, while the CNX Nifty rises 1.27%, or 102.85 points, to 8,229.80.
CNX PSU Bank index trades 2.64% higher on the back of higher volumes. Union Bank of India gains 7.45%, Oriental Bank of Commerce 3.89%, Syndicate Bank 3.83%, Allahabad Bank 3.20%, Andhra Bank 2.98%, Canara Bank 2.64%, Bank of India 2.64%, while IDBI Bank Ltd adds 2.3% on NSE.
1:55pm: The BSE Sensex is now trading 313.75 points, or 1.17%, higher at 27,191.23.
1:45pm: Banking stock jump, pushing the Sensex up. Axis Bank climbs 5%, State Bank of India is 2.5%, while ICICI Bank Ltd gains 2.2%.
1:40pm: Shares of Bharat Forge Ltd, Bharti Infratel Ltd, Container Corp of India Ltd, Eicher Motors Ltd, Lupin Ltd, Marico Ltd, Shree Cement Ltd and UPL Ltd jump as they would be included in the MSCI Index from 29 May.
Bharat Forge Ltd rises 3%, Bharti Infratel Ltd is up 5%, Container Corp of India Ltd 6%, Eicher Motors 4.11%, Lupin Ltd 2%, Marico Ltd 5%, Shree Cement Ltd 9.8% and UPL Ltd 4.4%
1:27pm: Amid positive Asian cues, the S&P BSE Sensex jumps 265.01 points, or 1%, to 27,142.49 in choppy trade. The CNX Nifty is also up 86.95 points, or 1.07%, to 8,213.90.
1:15pm: Asian stock markets are now trading higher, overcoming initial caution after a bond sell-off nudged Wall Street lower. Tokyo’s Nikkei 225 index rises 0.7% and Seoul’s Kospi gains 0.8%. The Shanghai Composite Index gives up 0.1% and Hong Kong’s Hang Seng also sheds 0.1%. Sydney’s S&P ASX 200 advances 0.6%. Taiwan, Singapore, Jakarta and New Zealand also rise.
12:53am: The S&P BSE Sensex is trading flat at 26,886.37, up 8.89 points, or 0.03%.
12:45pm: Shares of fertiliser companies are treading higher after the PIB website showed that the government has approved new urea policy for the next four years. The policy is aimed at timely supply and rationalization of subsidy, the report said.
Gujarat State Fertilizers and Chemicals Ltd is trading up 2.4%, Gujarat Narmada Valley Fertilizers and Chemicals Ltd (GNFC) jumps 2%, Chambal Fertilisers and Chemicals Ltd is up 3.5%, Rashtriya Chemicals and Fertilisers Ltd soars 6%, Fertilizers and Chemicals Travancore Ltd (FACT) gains 4.2%, while National Fertilizers Ltd is trading up 6%.
12:30pm: India is among the most over-owned markets in Asia at a time when earnings growth is slowing and room for rate cuts is limited, said HSBC Global Research in its latest India strategy report. Citing these concerns, HSBC has cut India’s ratings to underweight from overweight. Read more.
12:05pm: Opto Circuits India Ltd surges 9% to ₹ 22.10 after its arm Cardiac Science introduces Powerheart G5 automated external defibrillator (AED) in the US and Canadian markets.
11:40am: Hindalco Industries Ltd falls 3.6% to ₹ 132.60 after its subsidiary Novelis reported net income of $148 million for fiscal year 2015, a 42% increase from the $104 million reported in fiscal 2014. Excluding certain tax-effected items, net income increased 4% to $161 million in fiscal 2015.
11:22am: The BSE Sensex erases most of its early morning gains to trade just 56.82 points, or 0.21%, higher at 26,934.30. The Nifty is up 9.95 points, or 0.12%, to 8,136.90.
11:15am: NTPC Ltd shares drop as much as 5%, while Indian Oil Corp. Ltd (IOC) decline 2.5% on news reports that government will sell its stake in the companies through an offer for sale. “The government will sell 5% stake in NTPC and 10% stake in Indian Oil Corp”, CNBC news reported.
Currently, the government holds 74.96% stake in NTPC and 68.57% stake in IOC.
10:29am: The S&P BSE Sensex is now trading up 348.27 points, or 1.3%, at 27,225.75.
10:25am: Interest rate-sensitive stocks such as those of banks, consumer durables and realty companies were trading higher with investors hoping the RBI will go for a rate cut owing to sluggish growth and falling inflation. The BSE Bankex is up 2%, Auto Index is 1.87% and Realty index is up 1%.
10:23am: Torrent Power gains 8.7%, becoming the top gainer among BSE ‘A’ group stocks, while Lanco Infratech is up 3.1%. The stocks gain on hopes of getting cheap gas for their power plants after a government auction.
Ten stranded gas-based power plants were successfully bid through transparent reverse e-auction, according to a government statement.
10:18am: Bharti Infratel Ltd rises 4% to ₹ 399.05 after the company was added to the MSCI India Index.
10:15am: TV Today Network Ltd dives 15% to ₹ 206.70 after the company reported a 45.2% decline in its net profit to ₹ 8.69 crore in March quarter compared with ₹ 15.85 crore in the same quarter a year ago.
10:13am: Jubilant Life Sciences Ltd falls 4% to ₹ 164 after the company reported a net profit of ₹ 42.73 crore in the March quarter, down 57% from a year ago.
10:10am: Camlin Fine Sciences Ltd climbs 7% to ₹ 93 after the company said net profit jumped 148% in the March quarter to ₹ 8.42 crore compared with ₹ 3.40 crore last year in the same quarter.
10:08am: Tribhovandas Bhimji Zaveri Ltd jumps 5% to ₹ 158 after the company reported a 58% increase in its net profit to ₹ 18.49 crore in the March quarter as compared with ₹ 11.70 crore in the year-ago quarter.
10:03am: La Opala RG Ltd surges 7% to ₹ 408.40 after the company reported a net profit of ₹ 10.65 crore in March quarter, up 25% from a year ago.
9:58am: Punjab and Sind Bank falls 3% to ₹ 47.20 after the company reported a net loss of ₹ 70.24 crore in the March quarter compared with a net profit of ₹ 35.85 crore a year ago.
9:55am: Ashok Leyland Ltd drops 4% to ₹ 68 after the company reported a 36.7% drop in net profit for the quarter ended March at ₹ 229.9 crore compared with ₹ 363.3 crore in the year-ago period. A Bloomberg estimate of 25 analysts had predicted a net profit of ₹ 201.2 crore.
9:53am: Ingersoll Rand India Ltd declines 5% to ₹ 899 after the company reported a 17.7% decline in net profit to ₹ 17.52 crore in the March quarter compared with ₹ 21.41 crore in the same quarter last year.
9:50am: Sobha Ltd falls 2.8% to ₹ 396.25 after the company reported a 10.3% decline in its net profit to ₹ 61.5 crore from a year ago. The company’s total income fell by 19.2% to ₹ 506.3 crore.
9:45am: Sectoral indices—BSE Auto Index is the top gainer, up 2.2%, followed by BSE FMCG Index that is up 1.4%. The BSE Metal index is the top sectoral loser, down 0.3%.
9:40am: Earnings today—Adani Enterprises Ltd, Capital First Ltd, Dalmia Bharat Ltd, Emami Ltd, JSW Holdings Ltd and Lupin Ltd
9:37am: Sensex losers—Hindalco Industries Ltd falls 2.5% after its subsidiary Novelis reported a net income of $148 million for fiscal year 2015, a 42% increase from the $104 million reported in fiscal 2014. Vedanta Ltd slips 2.1% to ₹ 213.80.
9:35am: Sensex gainers—Mahindra and Mahindra Ltd rises 3.33% to ₹ 1,215.40, while Gail India Ltd jumps 3.3% to ₹ 378.70.
9:33am: The 30-share S&P BSE Sensex is trading 306.99 points, or 1.14%, higher at 27,184.47. The 50-share Nifty of the National Stock Exchange (NSE) is trading at 8,222.80, up 95.85, or 1.18%.
9:30am: HSBC Holdings Plc reduced its rating on Indian stocks to underweight from overweight in a report on Tuesday, citing slowing earnings growth expectations, rising commodity prices, the looming El Nino weather phenomenon and diminished returns from interest-rate cuts. Underweight is the equivalent of sell.
9:25am: The equity markets recover today after Tuesday’s declines despite flat Asian markets.
9:20am: The yield on India’s 10-year benchmark bond is trading at 7.974% compared with its Tuesday’s close of 7.949%.
9:15am: The Indian rupee is trading higher at 64.11 per dollar compared with its previous close of 64.17, tracking gains in Asian currencies.
9:12am: The euro gains to $1.1242 from the previous session’s $1.1218. The dollar falls to 119.85 yen from 119.88 yen.
9:10am: Benchmark US crude adds 43 cents to $61.18 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, advances 28 cents to $67.66. It soars $1.66 to $67.38.
9:08am: The Shanghai Composite Index is little changed at 4,400.28 and Tokyo’s Nikkei 225 is steady at 19,615.55. Hong Kong’s Hang Seng is stable at 27,423.29. Seoul’s Kospi gains 0.7% to 2,112.37 and Sydney’s S&P/ASX 200 is up 0.5% at 5,701.00.
9:05am: Major Asian stocks markets are trading muted after a bond sell-off nudged Wall Street lower.
9:02am: In the US, the yield on the 10-year Treasury note surged as high as 2.36%. The selling eased by late afternoon and the yield fell to 2.25%, down from 2.28% late Monday. The yield was below 2% as recently as 28 April.
9:00am: The Dow Jones industrial average lost 0.2% after dropping nearly six times that far during the day. The Standard and Poor’s 500 lost 0.3% and the Nasdaq composite slid 0.4%.
8:55am: A spike in long-term interest rates on Tuesday rattled investors who sold US stocks. Traders have been selling government bonds in recent weeks. That accelerated on Tuesday, bringing down prices and, in turn, driving up the benchmark US bond yield to the highest level since late November.
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