Sensex, Nifty open marginally higher, Infosys shares rise

stock market up The key indices opened the session on a flat note since traders remained cautious ahead of Sept-quarter GDP data to be released on Thursday.

At 10.40 Am., the BSE index Sensex was up 31.91 points at 33,650.50 and the NSE Nifty 50 index was up 8.90 points at 10,379.15.

Shares of Oil and Natural Gas Corporation, Coal India, Reliance Industries, Dr Reddy’s Lab, ITC, NTPC, Infosys gained up to 1.7% while Axis bank and HDFC dragged the most, lost up to 1.2 percent each. The heavyweight shares of Reliance, ITC and Infosys contributed the most to the Sensex gains, whereas a fall in HDFC twins and Axis Bank cut off most of the gains.

Shares of SREI Infrastructure Finance Ltd rose 2.5 percent to Rs. 111.65 after its subsidiary SREI Equipment Finances files draft red herring prospects with regulator Sebi. The initial offer consists fresh issue of shares worth Rs. 1,100 crore and offer for sale of up to 43.86 lakh shares by SREI Infra.

The Indian rupee depreciated 10 paise to 64.51 against the USD in early trade. Earlier yesterday, it has gained 9 paise to conclude at a fresh two-month high against the US dollar.

Monday- 27 Nov Sensex falls 69 points, Nifty trades lower, ONGC stocks rose

sensex downIndian Share Market opened marginally lower on Monday tracking weakness in Asian markets and on caution prior to the release of July-September GDP data later this week.

At 10.50 am, BSE Sensex lost 69 points to open at 33,610 whereas NSE Nifty dropped 28.65 points to begin at 10,361. The Indian rupee dropped 9 paise to 64.79 against the dollar in early trade at the interbank foreign exchange.

ONGC, United Phosphorus Ltd, Vedanta Ltd, Hindalco and Tech Mahindra gained the most on Nifty50, while Bharti Airtel, HPCL, Infosys, Adani Ports and Sun Pharma were the top losers.

Shares of Videocon Industries Ltd rose 5 percent to Rs 13.45 after the company announced that it seeks shareholders approval for raising Rs. 2,000 crore via shares.

Shares of Satin Creditcare Network Ltd rose 3 percent to Rs. 400 after the company announced that it will raise fund from promoter, Nordic Microfin, Kora Investment & IndusInd Bank Ltd. by way of equity & convertible preference shares.

Shares of Oil & Natural Gas Corp (ONGC) spiked 2 percent to Rs. 183.30 after rise in crude oil price internationally.

Best Stock Advisory- 21 Aug Buy,Sell,Hold, Here are 3 stocks on Investors

The BSE index, Sensex opened higher on Monday against the previous session’s closing. The NSE’s Nifty also rose in the morning hours. The shares of Tata Steel, ICICI Bank, ONGC and rose, while Asian Paint and Infosys fell in morning hours.

Stocks through the news: Infosys Ltd nods share buyback at 24.57 percent premium. The Company has announced buyback of shares worth Rs. 13,000 cr. It will buy back shares totaling up to 4.92% of the paid-up equity capital by way of tender route @ Rs. 1,150 per equity share.

Indian Hotels Co. Ltd plans to raise about Rs. 1,000 cr, through a rights issue to its expansion of fund. Indian Oil Corporation Ltd will invest about Rs. 52000.00 cr, for refinery expansion of the Paradip refinery and establishing a petrochemical complex.

Reliance Communication:  Reportedly, three creditors of RCom and Aircel could challenge the discharge of their right to call for a meeting of by the National Co. Law Appellate Tribunal (NCLAT).

Meantime, Public sector Bank goes on strike on 22 Aug 2017, since the United Forum of Bank Unions have threatened to go on strike against the govt’s proposed consolidation move.