Market at close
: It is strong closing for Indian indices for the third consecutive day with Nifty finished at 11,340 level.
At the close, Sensex was up 216.51 points at 37752.17, while Nifty was up 40.50 points at 11341.70. About 1058 shares have advanced, 1641 shares declined, and 155 shares are unchanged.
IndusInd Bank, Yes Bank, Bajaj Finance, HDFC Bank and HPCL were the top gainers on the Nifty, while losers include Bharti Airtel, IOC, Vedanta, Zee Entertainment and Sun Pharma.
Among the sectors, except energy and PSU bank all other indices are ended in red led by metal, pharma and infra.
Bank Nifty touched 28,900 for the first time, while Smallcap and midcap index ended 0.3 percent lower.
Tech Mahindra's buyback to open on March 25 and will close on April 5, 2019.
NHPC to consider fund raising
A meeting of board of directors of the company is scheduled to be held on March 15, 2019 to consider raising of fund through external commercial borrowing (ECB) in JPY equivalent to USD 100 Million from MUFG Bank to part finance the capital expenditure on on-going project(s) and /or for other permissible end uses.
The board also consider issue of GOI Fully Serviced Bonds up to Rs 2017.20 crore as per mandate given by Government of India for the FY 2018-19 through unsecured, redeemable, taxable, non-cumulative, non-convertible, taxable bonds in one or more series\tranches on private placement basis from Domestic Market.
Image source: Bloomberg
Unichem Lab gets USFDA approval
The company has received ANDA approval for itsAllopurinolTablets, USP 100 mg and 300 mg from the United States Food and Drug Administration (USFDA) to market a generic version of ZYLOPRIM (allopurinol) Tablet.
Buzzing:
Share price of Hindustan Fluorocarbons gained 5 percent after company board in its meeting held on March 11 approved the valuation report and sale of the 66 Acres 13 Gunthas of vacant surplus land of the company subject to the approval of the shareholders, Govt of India and Govt of Telangana/TSIIC.
Nifty Bank hits 28,900
IOC to consider interim dividend
The board of directors of the company is scheduled on 19/03/2019 to consider declaration of second interim dividend for the financial year 2018-19.
Rupee Update
Indian rupee is trading higher by 16 paiseat 69.54 per dollar against Tuesday's close 69.70.
Asian Granito to raise Rs 90cr
Sharesgained more than 3 percent ascompany is planning to issue 50 lakh convertible warrants on preferential basis to promoter & non-promoter group at Rs 180 per share, as per press release on BSE.
Bajaj Finserv to BSE:
The Board of Directors of the Company has appointed Nanoo Pamnani, as an Independent Non-Executive Chairman of the Company, in place of Rahul Bajaj, with effect from 17 May 2019.
Buzzing:
A2Z Infra Engineering is down 5% intraday after the company lost control of its subsidiary, A2Z Green Waste Management.
Among the Nifty 50 stocks, 34 have declined and 16 have surged. IndusInd Bank is the biggest gainer, up 3.5 percent. BhartiAirtel and IOC are the biggest losers, falling more than 3 percent.
Broader markets at this hour
Just In |
Jubilant FoodWorks Limited (JFL) has launched its first own brand ‘Hong’s Kitchen’, the company said in its exchange filing. The latest venture marks JFL’s entry into the Chinese cuisine segment, a large and fast growing segment in the Indian market. Hong’s Kitchen has opened its first restaurant in Eros mall, Gurugram.
India VIX
On a volatile day, has surged over 2 percent at 15.4.
TCS to BSE:
Digitate's cognitive automation solution, ignio, has been successfully deployed by Tata Steel Europe (TSE).
Sectoral indices at this hour
Rupee Update:
The Indian rupee has strengthened further in day's trade. It is trading at 69.62/$, up 0.13 percent.
Market Update
The Sensex is up 117.96 points or 0.31 percent at 37,653.62, and the Nifty up 15.70 points or 0.14 percent at 11,316.90. About 963 shares have advanced, 1,317 shares declined, and 110 shares are unchanged.
Nifty Realty is the biggestsectoral gainer and Nifty Media is the biggest loser at this hour.
Just In |
Zydus Cadila has received the final approval from the USFDA to market Potassium Chloride Extended-Release Capsules USP, 8 mEq (600 mg) and 10 mEq (750 mg), the company said in an exchange filing.
It will be manufactured at the group’s formulations manufacturing facility at SEZ, Ahmedabad. This medication is a mineral supplement used to treat or prevent low amounts of potassium in the blood.
Just In |
Karur Vysya Bank has allotted 48,700 unsecured, redeemable, non-convertible Tier 2Bonds to raise Rs 487 crore on private placement basis.
Even as the Nifty Bank index is trading in thegreen, the constituent stocks are under pressure. Of the 12 constituents of Nifty Bank, 10 are trading in the red. The index is up 0.5 percent buoyed by surges in IndusInd Bank and HDFC Bank.
Following DGCA's order to ground Boeing 737 MAX 8 aircraft in India, Jet Airways and SpiceJethave fallen in day's trade. IndiGo, on the other hand, which has comparatively fewer737 MAX 8 aircraft has gained.
SpiceJet to BSE:
Consequent to the regulatory directive on the Boeing 737 Max, SpiceJet has already initiated grounding of its Max fleet. In order to cause least inconvenience to its passengers and also bring these aircraft to its maintenance base we expect to complete this exercise on or before 4 pm today.
SpiceJet hascanceled 14 flights for today and will be operating additional flights from tomorrow. Of the 76 planes in our fleet, 64 aircraft are in operations.
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Larsen & Toubro (L&T) is likely to acquire 20 percent stake owned by Cafe Coffee Day founder VG Siddhartha’s stake in Mindtree, media reports suggest.
Just In |
Ramco Systems has been chosen by Opteon Solutions, an international provider of property valuation and advisory services based in Australia and New Zealand, to digitise the company’s payroll operations, the company said in a BSE filing. Ramco Systems will digitize Payroll operations of staff spread across 75 offices in Australia and New Zealand.
Most of the metal stocks are trading in the red. SAIL is the biggest loser, down over 4 percent. Coal India, JSW Steel, Tata Steel are trading lower around 2 percent.
Sensex Heat Map at this hour
Rupee trades higher
The Indian rupee is trading marginally higher at69.67 per dollar against Tuesday's close 69.70.
Buzzing
:Shares of NMDC rose 3.4 percent on Wednesday after company board approved interim dividend for the financial year 2018-19.
SPARC enters into research collaboration with HitGen
HitGen and Sun Pharma Advanced Research Company (SPARC) announced a research collaboration to identify novel small molecule leads for targets of interest.
Under this collaboration, HitGen will apply its advanced technology platform, based on DNA-encoded library design, synthesis and screening, to discover novel leads for SPARC.
Market Opens:
It is a flat start for the Indian indices on Wednesday with Nifty below 11,300 level.
The Sensex is down 26.84 points at 37508.82, while Nifty is down 15.20 points at 11286. About 585 shares have advanced, 486 shares declined, and 33 shares are unchanged.
Interglobe Aviation, Apollo Tyres, Nestle, Eicher Motors, RIL, Wipro, ITC, HUL, Infosys are among major gainers on the indices, while losers are IOC, HPCL, Vedanta, JSW Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, Allahabad Bank, Oil India and ONGC.
On the sectoral front, auto, bank, infra and metal indices are witnessing selling pressure, while FMCG ad IT indices are trading with marginal gains.
Rupee Opens
The Indian rupee opened marginally lower at69.74 per dollar on Wednesday against previous close 69.70.
Market at pre-open:
Benchmark indices are trading higher in the pre-opening, with Nifty around 11,330 level.
The Sensex is up 103.20 points at 37638.86, and the Nifty up 30.10 points at 11331.30.
JSW Steel and Vedanta are trading lower in the pre-opening session, Asian Paints, DLF are trading higher.
Crude Update
Oil prices edged higher on Wednesday, supported by planned cuts to Saudi exports and a reduced forecast for US crude output.
SGX Nifty
Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 18.50 points or 0.16 percent. Nifty futures were trading around 11,313.50-level on the Singaporean Exchange.
US markets end mixed
:The S&P 500 andNasdaqrose on Tuesday after tame inflation data underscored the Federal Reserve's dovish stance on rate hikes, but the Dow ended down as Boeing's shares sank for a second day after one of its planes crashed in Ethiopia.
Asia trades lower:
Asian share markets got off to a subdued start on Wednesday after a mixed finish on Wall Street, while a frazzled pound awaited its fate ahead of yet another make-or-break parliamentary vote onBrexit.
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