The BSE Sensex opened 102.26 points up at 25,596.63, while NSE Nifty50 index opened 32.15 points up at 7,783.05. (Photo: Reuters)
10.23 am: Sensex pared most of its initial gains and was trading 10.98 points up at 25,505. Nifty was up 6.30 points at 7,757.20
9.55 am: The rupee appreciated by 13 paise at 66.60 against the US dollar in early trade today on increased selling of the American currency by exporters even as the US Federal Reserve raised interest rates for the first time in nearly a decade. Nifty was up 16 points at 7,767.
9.45 am: Morgan Stanley upgraded SKS Microfinance to over-weight (OW) from equa-weight (EW) on high earning visibility. The share price of SKS Microfinance was trading 1.17 per cent up at Rs 472.50.
9.41 am: Nifty Bank slipped over 85 points from its day’s high. The index was trading 0.52 per cent up at 16,665.40. Nifty Bank opened at 16,704.05 and had touched a high and low of 16,751.85 and 16657.70, respectively, in trade so far. Nifty 50 index was up 0.29 per cent at 7,773.45.
9.35 am: The BSE Sensex slipped over 100 points from day’s high. Sensex was up 64.37 points at 25,558.74. The index had touched a high and low of 25,659.32 and 25,551.79, respectively, in trade so far.
9.30 am: On the US Fed rate hike, Nikhil Kamath, director, trading & risk, Zerodha said, “With the increase in rates, the Fed has finally aligned its intent and action. I think they have made it amply clear that further rate hikes would be ‘gradual’ and well spaced, which probably means to say we may get to see another marginal uptick in rates toward the end of 2016. The markets have already factored in yesterday’s hike, and I suppose the participants would be happy that the event is through. We may even witness a rally in the market. The focus in now back on domestic macro factors.”
9.26 am: Narayana Hrudayalaya has raised Rs 183.93 crore by allotting shares to anchor investors in a pre-initial public offering (IPO) placement. The three-day public offering opens from today and the minimum bid lot is fixed at 60 equity shares per bid. Axis Capital, IDFC Securities and Jefferies India are the book running lead managers for the issue. Read: Narayana Hrudayalaya IPO hits market today, should you invest?
9.18 am: NSE Nifty 50 index hits 7,800 for the first time since December 7. Sensex was up 103 points at 25,597.41. In the 50-share index, PNB, GAIL, SBIN, NTPC and Sun Pharma were up between 1.51 per cent and 1.80 per cent. On the other hand, Cairn India, Mahindra and Mahindra, HUL and HDFC slid between 0.20 per cent and 2.05 per cent.
9.15 am: Domestic equity markets opened in sync with the gains in the other global markets, after the US Federal Reserve raised interest rates for the first time in almost a decade and Fed Chair Janet Yellen emphasizing that further tightening would be slow. The BSE Sensex opened 102.26 points up at 25,596.63, while NSE Nifty50 index opened 32.15 points up at 7,783.05.
The US markets rallied in last session after Fed announced a 25 basis points interest rate hike on conclusion of its two days meeting, with major averages extending the upward move seen over the two previous sessions. The Fed said monetary policy remains accommodative even after the rate hike, which marked the first rate increase since 2006. The Asian markets have got an all green start, led by the Japanese market which is up by over 2 percent in early deals on yen weakness against dollar.
On Wall Street, the Dow ended Wednesday with gains of 1.28 per cent, while the S&P 500 rose 1.45 per cent and the Nasdaq 1.52 per cent.
Back home, domestic equity markets closed in green on Wednesday on account of buying in front line blue chip stocks. Sensex closed 173.93 points up at 25,494.37, while Nifty closed 50 points up at 7,750.90.
(With agency inputs)
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