The BSE Sensex and NSE Nifty opened 195.91 points and 70.80 points higher at 25,891.95 and 7856.65, respectively. (Photo: PTI)
12.10 pm: The market breadth indicating the overall health of the market was positive. Sensex was up 26 points at 25,722. Nifty was up over 15 points at 7,801.
11.53 am: Meanwhile, Motilal Oswal cut its Sensex FY16E EPS by 3 per cent to Rs 1,515 (growth of 12 per cent) post 1QFY16 results, led by global headwinds.
11.47 am: Eros International Media shares were trading over 1 per cent higher in the morning trade on Wednesday after the company announced that it is set to carve a niche in the Malayalam movie market with the release of its debut production, ‘Life of Josutty’. Sensex was flat at 26,680.
11.18 am: Sensex was down 47 points 25,650.
11.13 am: ITC shares were up around 2 per cent at Rs 321.80. The share price of the company jumped on reports that the company is all set to foray into dairy product market with ghee, which would be available in the market by the end of the current quarter. The company’s ambitious dairy business will rollout in the next few years, other products following ghee will include packaged milk, butter, cheese and chocolates.
10.36 am: Sensex was up 125 points at 25,821.
10.16 am: DLF was trading 3.63 per cent higher Rs 109.85. The share price of the company jumped after the announcement made by the company that DLF Home Developers, a wholly-owned subsidiary of DLF, and GIC, Singapore’s sovereign wealth fund, have entered into a joint venture to invest in two upcoming projects located in Central Delhi. Sensex was up 81 points at 25,777.
9.30 am: Hero MotoCorp reported 13.97 per cent drop in its total two-wheeler sales at 4.80 lakh units in August 2015 over August 2014. The announcement was made after market hours on Tuesday. The share price of Hero MotoCorp was 3.28 per cent lower at Rs 2306.95 in the early trade. Sensex was up 40 points at 25,736.
Domestic equity markets opened in green on Wednesday after in a big relief to FIIs, the government on Tuesday accepted recommendation of a high level panel that minimum alternate tax (MAT) should not be imposed on overseas portfolio investors retrospectively.
The BSE Sensex and NSE Nifty opened 195.91 points and 70.80 points higher at 25,891.95 and 7856.65, respectively.
All the sectoral indices on the Bombay Stock Exchange opened in green. The BSE Realty index and the BSE Metal index were up 1.95 per cent and 0.28 per cent at 1,244.56 and 7,225.17, respectively.
Global Markets
Asian stocks extended a global market sell-off on Wednesday as poor manufacturing data from the world’s two biggest economies dampened investor sentiment.
The Shanghai Composite Index in China led declines in Asia, falling as much as 4.4 per cent at the open before reeling back losses to trade 2 per cent lower at 3,105.13. Hong Kong’s Hang Seng dropped 1.1 per cent to 20,956.36 and South Korea’s Kospi slipped 0.6 per cent to 1,903.51. Japan’s benchmark Nikkei 225 index was the sole major Asian benchmark to rise, climbing 0.6 per cent to 18,265.38. Australia’s S&P/ASX 200 fell 1.2 per cent to 5,036.10.
Major US benchmarks finished sharply lower on Tuesday after the pessimistic factory data. The Dow Jones industrial average lost 2.8 per cent to 16,058.35 and the S&P 500 fell 3 per cent to 1,913.85. The Nasdaq composite fell 2.9 per cent to 4,636.10.
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