Sensex, Nifty Opens in Green; Banking Stocks leads the Trend

sensex nifty upMarket Live- Stock markets in India have opened Friday on a positive note. The BSE Sensex is trading higher by 66.30 points at 33,213.44 while the NSE Nifty is trading higher by 3.30 points at 10.347.10 at 10.40 am today.

Except banking stocks, all sectoral indices have opened the day positively with metal sector and consumer durables leading the pack of gainers. The rupee is trading at 64.79 to the US Dollar.

Bank stocks have opened on a mixed note with Indusind Bank and South Indian Bank being the most active stocks in banking sector. Yes Bank reported a 25% growth in net profit for the Q2 ended Sept 2017 mainly due to a fast growth in advances and a rise in fee income.

Cipla’s U.S. unit gets final FDA nod for generic Renvela tablets with Stock advances over 1 percent, while Sugar company stocks open strong. Dwarikesh Sugar, Dharani Sugar, Dwarikesh Sugar rises 4 percent each.

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share market down The BSE Sensex and NSE Nifty opened on Thursday after closing at a record high in the previous session. The Indian rupee opened higher against the USD.

At 10.55 am, the BSE Sensex traded lower by 73.29 points, to 32,969.21, while the Nifty fell 8.85 points to close at 10,286.50. Shares of SBI and PNB hit a fresh record high, rising about 7.79% to Rs 351.3 and 14.55% to Rs 231.45 respectively. Other PSU bank stocks which also rallied include Indian Bank, Bank of Baroda, Union Bank of India Canara Bank,  Bank of India, OBC,  IDBI Bank and Syndicate Bank.

JP Group stocks fell after the Supreme Court has extended the deadline for Jaypee Associates Ltd to deposit Rs. 2,000 crore to cover its liability towards those who bought homes in projects of its subsidiary Jaypee Infratech Ltd.

Tata Communications Ltd fell 4% to Rs. 688 after it has reported a loss of Rs. 128.55 crore against a net profit of Rs. 267.65 crore that was in the corresponding quarter last year.
HCL Infosystems Ltd fell 4% to Rs. 46.85 after the company announced its net loss for the quarter widened to Rs. 455.57 cr from Rs. 37.13 cr a year ago period.

Rupee Watch: The Indian rupee opened at 64.80/USD and was being traded at 64.74 V/s the dollar, up 0.25% from its last close of 64.90.

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The key equity benchmark Sensex & Nifty opened slightly higher on Tuesday as many of the Asian stocks rose in the early trade today. The hope in a good second quarter earnings for the financial year 2018 and macro-economic data also brought up the market sentiments. After 11.00 am, the BSE Sensex is trading at 31980, up by 133 points, while NSE Nifty is trading at 10,025 up by 37 points.

Shares of Infosys Limited surged by 2% on Tuesday morning, after the company fixed November 1, 2017, as the record date for its share buy-back proposal yesterday. The other gainers include Lupin Ltd, Coal India, Infratel, and HCL whereas HPCL, BPCL, Zee Entertainment Enterprises, IOC and TataMotors are losing sheen on NSE.

Reliance infra rise 2% as it enters into exclusivity deal with Adani Transmission Ltd which rose 10% to sell Mumbai City Power Biz, while Fortis Healthcare stock trades slightly higher after 13.7 lakh shares change hands in a block deal.

Stock Watch on Wednesday, 4 October 2017: Markets Open Mixed ahead of RBI Policy Result

stock market trading up Indian share markets have opened the day on a mixed note prior to the RBI’s policy outcome expected for later hours today. The BSE Sensex is trading up by 162 points at 31660 levels while the NSE Nifty is trading higher by 51 points at 9911 levels at the time of this writing.

Barring I.T stocks and metal stocks, all sectoral indices have opened the day in green with stocks from PSU and O&G sector and leading the pack of gainers, while Indian rupee is trading at 65.55 to the US dollar.

Bussing Stocks:- Nifty Pharma Index surges 1.5%. Divi’s Lab rose 3%, Sun Pharmaceuticals, Aurobindo & Dr. Reddy’s rise up 2% each.

Stocks of Natco Pharma hits 20% upper circuit seeing that Mylan laboratories gets USFDA nod for its drug Copaxonein 20&40 mg version.

Indian oil companies such as HPCL, BPCL, IOC stock gains on fuel cut excise duty. Stock rises up to 2 to 3.5%

Stocks of Hero MotoCorp advances 1% as September total sales has grown 7%.
Apollo Tyres Ltd approves QIP issue at floor price Rs 250.44 each and to set issue price on October 6, while its Stock down 1 percent.

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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.