The BSE Sensex and NSE Nifty opened on a firm note on Wednesday following positive global markets. (Express Photo)
10.28 am: Meanwhile, Angel Broking in a research note said, “We have a positive view on the markets, as we believe that favourable macro cues such as low inflation, declining interest rates, cheap global commodities and strong governance are likely to drive improvement in corporate performance over the next 18-24 months.”
Stocks like Amara Raja Batteries, Ashok Leyland, HDFC Bank, Inox Wind, Radico Khaitan, Surya Roshni are among the Diwali top picks of Angel Broking.
10.23 am: Brokers said a firming trend at other Asian markets following a strong closing in US markets buoyed trading sentiment here. Besides, value-buying in recently battered bluechips too supported the rise. Sensex was up 104.38 points at 26,694.
10.07 am: Jain Irrigation shares jumped as much as 4 per cent in the early trade on Wednesday after the company informed BSE before market hours that it has bagged Maharashtra State Electricity Distribution Company’s (MSEDCL) most awaited tender worth Rs 473 crore for supply and installation of 8,959 solar agri-pumps. This is the first pilot phase out of the world’s biggest solar agri-pump project for 500,000 pumps launched by Government of Maharashtra through MSEDCL.
9.44 am: The rupee appreciated by 11 paise to 65.53 against the dollar in early trade on Wednesday on selling of the American currency by exporters and banks.
9.20 am: Sensex was up 201.36 points at 26,791.95. GAIL and Maruti Suzuki India shares were trading 1.68 per cent and 0.46 per cent down at Rs 302.30 and Rs 4,460.
9.18 am: Sensex was up 182 points at 26,772.60. In the 30-share index, Tata Motors and Hindalco were trading 4.24 per cent and 1.64 per cent up at Rs 398.25 and Rs 83.60. Tata Motors on November 1 reported 1 per cent growth in total sales at 43,486 vehicles for October 2015 compared to 42,862 units in the same month of last year.
9.15 am: The BSE Sensex and NSE Nifty opened on a firm note on Wednesday following positive global markets. Sensex opened 101.56 points up at 26660.71. Nifty opened 44.2 points up at 8,104.90.
Rest of Asian shares also rose on Wednesday, taking early cues from overnight Wall Street gains, while investors’ sharper risk appetite lifted US debt yields and supported the dollar. Dow Jones Industrial Average index gained 0.50 per cent on Tuesday.
Hang Seng, Nikkei and Shanghai were up around 2 per cent in the morning trade.
Activity in China’s services sector expanded at its fastest pace in three months in October, thanks to stronger new business, a private survey showed on Wednesday, easing concerns over persistent weakness in the economy as the manufacturing sector falters.
The Caixin/Markit Purchasing Managers’ Index(PMI) rose to 52.0 in October from September’s 14-month low of 50.5, hitting the highest level since July 2015.
Back home, the BSE Sensex and NSE Nifty swung between gains and losses on Tuesday as concerns about earnings continued to weigh, although higher Asian shares supported sentiment. Sensex closed 31.44 points up at 26,590.59 and snapped its 6-day losing streak. Similarly, Nifty closed 9.90 points up 8,060.70.
Tech Mahindra’s stocks will be in focus as country’s fifth largest IT services firm on Tuesday reported 9.1 per cent increase in consolidated net profit to Rs 785.63 crore for the quarter ended September 30.
Companies such as Voltamp, Bajaj Hind, Neyveli Lignite, KSB Pumps, Pricol, Omaxe, SCI, Bata India, Punjab Chemicals, Canara Bank, JK Lakshmi, Sparc, Century Ply and JB Chem Pharma may announce their earnings on Wednesday.
(With inputs from agencies)
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