The BSE Sensex and NSE Nifty opened on a firm note on Thursday on the back of firm global markets. (Photo: Reuters)
10.05 am: According to reports, Cairn India has reduced its capital expenditure programme for the current financial year by 40 per cent, a move that could accelerate the fall in output from the country’s largest onshore oil block at Barmer in Rajasthan. Shares of Cairn India were trading 1.67 per cent up at Rs 136.95 in the morning trade. Sensex was up 157 points at 25,640.
9.56 am: Orient Green Power Company informed BSE that it has received an approval to enter into a Memorandum of Understanding (MoU) with Chandrabhan Katewa to divest 26 per cent equity shares held by the company in Sanjog Sugars & Eco Power through an investment vehicle to be identified by Chandrabhan Katewa subject to all required approvals. The Investment and Borrowing Committee Meeting of Board of Directors of the Company held on November 17, 2015, has approved for the same. Shares of Orient Green Power were trading 1.36 per cent up at Rs 12.70.
9.47 am: Sensex was up 169 points at 25,651. Nifty was up 43.10 points at 7,774.90. Brokers said all-round buying by participants, tracking a rally at the other Asian markets following overnight gains at Wall Street bounced on expectations the Federal Reserve would be confident enough of the US economy to raise rates in December, mainly influenced the sentiment here.
9.43 am: The rupee recovered by 24 paise to 66.06 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amid higher opening in the domestic equity market.
9.20 am: Sensex was up 182 points at 25,665. Shares of Hero MotoCorp were trading 1.41 per cent up at Rs 2,608.05. Hero MotoCorp, the world’s largest two-wheeler manufacturer, has further consolidated its leadership, clocking over 1 million (10 lakh) units in retail sales during the festive season this year. The 1 million unit landmark was achieved during the 35-day festive period starting with the Navratri. This is an increase of 11 per cent in retail sales over the corresponding period last year.
9.15 am: The BSE Sensex and NSE Nifty opened in green on Thursday on the back of firm global markets. Sensex opened 157.82 points up at 25640.34. Nifty opened 56.70 points up at 7,788.50.
Shares of Hero MotoCorp will remain in focus today as the two-wheeler maker has clocked over 10 lakh units in retail sales during the festive season this year.
Employee unions at Coal India on Wednesday opposed the government’s decision to sell 10 per cent stake in the miner, with one of the trade unions threatening to go on strike against the divestment.
As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs 768.46 crore on 18th November 2015. Domestic institutional investors bought shares worth Rs 759.26 crore on that day.
Asian share markets rose on Thursday as Wall Street bounced on expectations the Federal Reserve would be confident enough of the US economy to raise rates in December but would then proceed with great caution on further tightening. Hang Seng, Nikkei and Shanghai were up 1.32 per cent, 1.36 per cent and 0.50 per cent, respectively.
The Dow Jones Industrial Average index closed with a gain of 1.43 percent on Wednesday, while the S&P 500 added 1.62 per cent and the Nasdaq 1.79 per cent.
According to YES Securities, the US market on Wednesday rallied on hopes of a Fed rate hike in December. The Fed’s October minutes show that many members of the committee believe a rate hike next month would be appropriate.
Back home, equity markets bore the brunt of a worsening global risk environment as the benchmark BSE Sensex on Wednesday snapped its 2-day rally and fell almost 382 points to close at over a 2-month low of 25,482.52. In addition, lacklustre September quarterly earnings kept investors cautious, who looked forward to US Fed minutes of the last policy meeting to decide on their future course of
action. Bouts of profit-booking following recent gains and sustained capital outflows dampened stocks further, brokers said.
The 50-share NSE Nifty broke below the 7,800-mark and ended at c, down 105.75 points, or 1.35 per cent.
(With inputs from agencies)
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