At 1.20 pm: Sensex was up 190.82 points at 25,511. Nifty was up 59.80 points at 7,760.70. (Photo: Reuters)
2.05 pm: Meanwhile, Marico informed that the company has fixed Record Date as December 24, 2015 to ascertain the members entitled to receive Bonus Equity Shares. The share price of Marico was trading 0.79 per cent up at Rs 436.20.
1.49 pm: After hitting an upper circuit on Tuesday, Lux Industries shares extended gains and were trading 6.78 per cent up at Rs 3,830.10. Nifty 50 index was up 42 points at 7,743. Sensex was up 151 points 25,471.98.
1.44 pm: Sensex and Nifty pared some more gains. The benchmark index was trading 123 points up at 25,443. Nifty50 was up 37.15 points at 7,738.
1.39 pm: Sensex was up 171 points at 25,491. Nifty was up 47.20 points at 7748.10. Shares related to automobile companies were trading mixed on the bourses after the Supreme Court banned registration of luxury diesel cars until March 31, 2016.
1.20 pm: Foreign portfolio investors (FPIs) bought shares worth a net Rs 48.67 crore on Tuesday as per provisional data released by the stock exchanges. Sensex was up 190.82 points at 25,511. Nifty was up 59.80 points at 7,760.70.
12.59 pm: Share price of NTPC jumped over 2 per cent after the Ministry of Environment and Forests gave ‘green signal’ to a power project being set up by state-owned NTPC in Telangana while it has deferred another project of the PSU in Andhra Pradesh. Sensex was up 206 points at 25,527.
12.28 pm: Alkem Laboratories shares are expected to list on exchanges on or before December 29, according to a source familiar with the listing. The healthcare major raised Rs 1,350 crore in its initial public offering after pricing shares at Rs 1,050 each. Sensex was up 241.56 points at 25,562. Nifty was up 72.30 points at 7,773.20.
12.18 pm: The Supreme Court banned on registration of diesel cars above 2000 cc in Delhi for 3 months – Jan 2016 to Mar 2016. According to Mihir Jhaveri, director, institutional research, Religare Capital Markets, the impact for Mahindra & Mahindra is minor as Delhi only forms around 2 per cent of its passenger vehicle sales. The decision may impact consumer sentiment for buying a diesel vehicle and whether this ban could percolate to other regions. M&M share price was down 4.19 per cent at Rs 1,235.10.
12.09 pm: Everest Kanto Cylinder shares surged over 15 per cent after court orders Delhi taxis to replace diesel with CNG. The company manufactures CNG cylinders. The scrip was trading 16.34 per cent at Rs 15.31. Sensex was up 214 points at 25,534.
11.52 am: In a bid to check generation of domestic black money, the government will soon issue a notification making quoting of PAN mandatory for all cash transactions beyond Rs 2 lakh, Finance Minister Arun Jaitley said on Tuesday. According to JM Financial, This move to have a temporary adverse impact on the organised jewellery trade where the size of transactions tend to be on the higher side. Share price of Shree Ganesh Jewellery and Rajesh Exports were trading 7.69 per cent and 1 per cent up at Rs 10.50 and Rs 688.40. On the other hand, Titan Company shares were trading 2 per cent down at Rs 356.50 apiece.
“This move would adversely affect investor sentiments on jewellery stocks like Titan, but at the same time, a section of the Street could be relieved that the revised limit is not as low as originally proposed,” said JM Financial.
11.35 am: In a bid to expand its fast-growing cattle-feed business, Hatsun Agro Product is planning to acquire feed mill in Tamil Nadu. The company’s board will meet on December 23 to consider a proposal to acquire a feed mill. Hatsun Agro Product shares were trading 0.98 per cent up at Rs 409. Sensex was up 186 points at 25,506.
11.20 am: Share price of gas distributing companies GAIL, Indraprastha Gas (IGL), Petronet LNG and Gujarat Gas rose in the morning trade on Wednesday as these companies are seen as key beneficiaries from government and judiciary’s focus on pollution. GAIL, IGL and Petronet LNG were trading 4.27 per cent, 3.43 per cent and 1.97 per cent up at Rs 354, Rs 484.60 and Rs 243.80, respectively. Gujarat Gas was trading 5.94 per ent up at Rs 602. According to market experts, focus to control pollution in Delhi will benefit IGL.
10.39 am: In the 50-share index, Cairn India, Tech Mahindra, BPCL, ONGC and BHEL were up between 1.05 per cent and 2.55 per cent. On the other hand, M&M, Tata Motors, Bosch, Bank of Baroda and Wipro were down between 0.28 per cent and 3.89 per cent. Nifty 50 index was up 56.75 points at 7,757. Sensex was up 200.97 points at 25521.41.
10.01 am: Sensex was up 175.61 points at 25,496. Nifty50 index was up 57.70 points at 7,758.60. For the second time in row, PSU oil marketing companies (OMCs) have slashed price of petrol and diesel by 50 paise per litre and 46 paise per litre respectively. The net impact of the crude oil prices and rupee depreciation have warranted a reduction of at least Rs 2 per litre but the reduction is much lower than an anticipated decrease as oil companies left cushion for the government to mop up gains accruing from global oil prices dipping to multi-year lows and also the government may like to raise excise duty on the two fuels to mop up its revenues as it has done five times in last one year.
9.54 am: Mahindra and Mahindra shares were down over 5 per cent at Rs 1219.85 in early trade as the Supreme Court is expected to decide on Wednesday whether to ban registering diesel SUVs and luxury cars with an engine capacity of over 2000 CC in Delhi to curb air pollution. Investors believe the impact on M&M will be significant as most of its models do not have a non-diesel variant. The BSE Auto index was down 0.32 per cent at 18,068.61.
9.52 am: Brokers said pick-up in buying by participants, in step with a firming trend at other Asian bourses and overnight gains in the US and European markets ahead of the outcome of a Federal Reserve meeting which is likely to see a long-awaited interest rate rise, influenced sentiments.
9.42 am: The rupee rose by 4 paise at 66.88 against the US dollar in early trade today at the Interbank Foreign Exchange on continued selling of the American currency by exporters and banks.
9.17 am: After Tata Consultancy Services, another IT major Wipro on Wednesday informed the bourses that the recent floods and rains in Chennai will have a material impact on its third-quarter earnings. The share price of Wipro was down 0.35 per cent in the early trade. Sensex was up 112.39 points at 25,432.
9.15 am: The BSE Sensex and NSE Nifty opened in green on Wednesday tracking firm global cues. Indian markets will also keep an eye on the US Federal Reserve meet that began on Tuesday, where the central bank is expected to announce a 25 basis points rate hike. Sensex opened 82.03 points up at 25402.47, while Nifty 50 index opened 24.35 points up at 7,725.25.
Asian stocks gained on Wednesday, with sentiment lifting as Wall Street rose before a likely hike in the US interest rates, while the dollar held to large gains made as Treasury yields picked up.
At 8.33 am (IST), Hang Seng, Nikkei and Shanghai were up 2.25 per cent, 2.13 per cent and 0.44 per cent, respectively.
Back home, the BSE Sensex and NSE Nifty on Tuesday extended gains for the second day on account of short coverings and value buying in front line blue chip stocks. Sensex closed 170.09 points up at 25,320, while Nifty50 index settled 50.85 points up at 7,700.90.
In the 50-share index, Bosch, HUL, Lupin, ONGC and Reliance Industries gained between 2.15 per cent and 3.10 per cent on Tuesday. On the other hand, Tech Mahindra, Punjab National Bank, Wipro and ICICI Bank slid between 1.30 per cent and 4.15 per cent.
Sugar stocks will remain in focus on Wednesday. A bill seeking to raise the sugar cess ceiling from Rs 25 to Rs 200 per quintal was passed by the Lok Sabha on Tuesday, with the government saying it will help cane-growers who are in crisis as it can facilitate rehabilitation and modernisation of sugar factories.
State-owned power equipment maker Bhel has commissioned a 500 mw thermal power plant in West Bengal.
(With agency inputs)
