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BSE Sensex closes 147 points higher, NSE Nifty above 8,150

By FnF Desk | PUBLISHED: 06, Oct 2015, 16:12 pm IST | UPDATED: 06, Oct 2015, 16:12 pm IST

BSE Sensex closes 147 points higher, NSE Nifty above 8,150 Mumbai: The S&P BSE Sensex closes 0.55%, or 147.33 points, higher at 26,932.88, while the CNX Nifty ends 0.41%, or 33.60 points, higher at 8,152.90. The today's top Sensex gainers are, Tata Motors (up 5.81%), ITC (up 4.21%), Coal India (up 4.02%), Cipla (up 3.36%)

Top Sensex losers: Bharat Heavy Electricals (down 2.82%), Infosys (2.17%), Maruti Suzuki India (1.32%), NTPC (1.30%)

3:15pm: The S&P BSE Sensex is trading 0.51%, or 135.34 points, higher at 26,920.89, while the CNX Nifty is up 0.34%, or 27.35 points, at 8,146.65.

2:22pm: The S&P BSE Sensex rises 148.28 points, or 0.55%, to 26,933.83, while the Nifty is up 42.80 points, or 0.53%, to 8,162.10.

2:18pm: The Indian rupee erases initial gains to trade at 65.38 per US dollar, down 0.12% from its previous close of 65.30. The local unit opened the session at 65.27 per US dollar and touched a high and a low of 65.25 and 65.43, respectively.

2:10pm: Renuka Sugar surges as much as 9.4% amid broader gains in sugar stocks. Bajaj Hindusthan is up 8.4%, Balrampur Chini 5.7%, Triveni Engineering 9.7%, Dhampur Sugar Mills 13.4% and Dwarikesh Sugar 14.6%.

2:01pm: Infosys Ltd fell 2.5% to Rs 1151.05. The company will announce its September quarter earnings on 12 October. According to 16 Bloomberg estimates, the company may post net profit of Rs 3293.9 crore and net sales will be at Rs 15194.7 crore.

1:45pm: Indian OIl Corp. gains as much as 1.4% after the company signed agreement with Punbus and Punjab Roadways to supply diesel at a discount of Rs.1.05 per litre for five years. The company has also agreed to provide additional infrastructure like digital tyre inflators and online diesel monitoring dispensing units for effective monitoring of diesel, which will help reduce pilferage and result in saving to Punjab Roadways and Punbus.

1:22pm: Shares of mid-cap banks on Tuesday are trading lower after the Reserve Bank of India initiates prompt corrective action against Indian Overseas Bank. In intra-day trade, IOB fell as much as 2.3% to Rs.36.50. Other mid-cap banks also trading lower. UCO Bank is down 2.8%, IDBI Bank 2%, Syndicate Bank 2%, Bank of Baroda 1.9%, Union Bank of India 1.5%, Andhra Bank 1.3%, Bank of India 1.2% and Oriental Bank of Commerce 1.1%.

1:04pm: The S&P BSE Sensex is now up 39.74 points, or 0.15%, to 26,825.29. Meanwhile, the Nifty is trading in the negative, down 4.90 points, or 0.06%, to 8,114.40.

12:54pm: Tata Motors Ltd headed for its biggest two-day advance in 14 months. The stocks jumps 4.8%, extending Monday’s 5.8% advance. The shares rallied on Monday after the company said the sales of its Range Rover and Evoque SUVs in the US jumped 61% last month.

12:40pm: SpiceJet Ltd gains 5.5% after the second largest low-cost airline decided to start two direct flights to Dubai—one each from Amritsar and Kozhikode—from next month and offered an all-inclusive introductory one-way fare of Rs.4,999.

12:23pm: Jet Airways rises 3.2% after the airline reduced its business and economy class fares by up to 30% across its global destinations for a limited period. The six-day special fare offer for sale is effective from 5 October to 10 October.

12:10pm: Jefferies initiates on Ambuja Cements (down 0.1%), Dalmia Bharat (up 4%) and UltraTech Cement (down 2%) with “buy” ratings and ACC at “hold” (down 1%). It says the cement industry in India is nearing an upcycle based on increased infrastructure spending by the government, adding that north-east India will likely be a key beneficiary of this higher government spending.

11:55am: Coal India gains 3% and NTPC adds 2% after Credit Suisse upgrades the two stocks to “outperform” from “neutral”. The likely state electricity board (SEB) problem resolution will remove a big overhang; valuations now look attractive, say analysts Neelkanth Mishra, Ravi Shankar and Prateek Singh.

State governments may take over the entire debt of power distribution companies, according to media reports. India’s panel of ministers is meeting on Wednesday to consider the proposal, the reports added citing sources.

11:42am: The S&P BSE Sensex is still trading flat at 26,822.64, up 37.09 points, or 0.14%, while the Nifty is up just 0.7 point, or 0.01%, to 8,120.

11:37am: Amtek Auto Ltd jumps sharply by nearly 10% to Rs.47.15 on strong volumes.

11:22am: Hindustan Copper Ltd gains as much as 10.2% on strong volumes.

11:12am: Gujarat NRE Coke Ltd surges 20% to Rs.3.76 after the company said in a notice to the BSE that its board approved selling its wind mill business for Rs.218.75 crore. The said sale is subject to complete due diligence by the buyers of the business and approval from all relevant authorities and lenders of the company.

11:01am: Prabhat Dairy Ltd climbs as much as 10.4% to Rs.129.30 after Reliance Mutual Fund bought 1.15 million shares of the company at an average price of Rs.117 a share, according to the BSE bulk deal data.

10:50am: Bank of Baroda is down 1.6% to Rs.183.65 after Economic Times reported that the bank is investigating a bill discounting fraud running into Rs.350 crore. “There is a suspected fraud. An internal probe is on. If the money cannot be recovered, the bank will have to take a hit,” ET reported.

10:36am: PTC India Financial Services Ltd rose 1.2% in early trade but later erased gains to trade flat after the company in a notice to the BSE announced the introduction of its credit enhancement scheme as part of its efforts to step up lending to quality infrastructure projects in the country.

10:28am: J Kumar Infraprojects Ltd gains 5% to Rs.876 and ITD Cementation India Ltd climbs 9.4% to Rs.94.85 after both the companies emerged lowest bidders for Mumbai Metro Rail projects. J Kumar has emerged the lowest bidder for Dharavi to the domestic airport and the domestic airport to the international one, while ITD Cementation emerged the lowest bidder for Siddhivinayak to Mahim project, according to Business Standard.

10:16am: The S&P BSE Sensex trims gains to trade higher by just 37.02 points, or 0.14%, to 26,822.57, while the Nifty is up just 3.30 points, or 0.04%, to 8,122.60.

10:10am: Adani Enterprises Ltd advances 5% to Rs.84. According to a Times of India report, the Adani Group, which has proposed to set up an urea plant in Jharkhand earlier this year, is planning to take over Sindri fertilizer plant through bidding. A delegation from the Gautam Adani-led conglomerate had taken up the issue during a meeting with representatives of the Jharkhand industry department late last month.

10:02am: Suzlon Energy Ltd jumps 3% to Rs.22.35 after the company said it has got 100.8MW order from Orange Renewable.

9:55am: Sun Pharmaceutical Industries Ltd adds 1.8% to Rs.913.90. Ranbaxy Pharmaceuticals Inc., a unit of Sun Pharmaceutical, has settled a patent litigation with Actavis over the generic version of Absorica, a drug used to treat acne.

9:49am: Wockhardt Ltd jumps 3.3% to Rs.1,592.50 after a news report said that UK health regulator MHRA has completed the inspection of its plant at Chikalthana in Maharashtra without issuing any critical observations on the facility.

9:43am: Tech Mahindra Ltd rises 1.2% to Rs.576.30 after the company said in a notice to the BSE that it has signed an agreement with Bombardier Commercial Aircraft under which the latter will develop the aircraft ground support system for Bombardier’s Aircraft Health Management System for the C Series family of aircraft.

9:37am: Indian Overseas Bank falls 2.1% to Rs.36.55 after the bank on Monday informed stock exchanges that the Reserve Bank of India had initiated a “prompt corrective action” on the lender to improve internal controls and consolidate its business activities.

9:30am: The equity markets continue their rally after climbing over 2% on Monday as inventors sensed diminishing chances of the Fed rate hike in the near future after a weak US jobs report.

The 30-share S&P BSE Sensex adds 123.31 points, or 0.46%, to 26,908.86, while the 50-share Nifty of the National Stock Exchange (NSE) is up 20.25 points, or 0.25%, to 8,139.55.

The BSE Healthcare is the top sectoral gainer, up 1%, followed by Consumer Durables (up 0.9% each) and Oil and Gas (0.7%).

9:25am: The rupee opens higher for a sixth consecutive session, at 65.27 per US dollar compared with its previous close of 65.30.

9:20am: The yield on India’s 10-year benchmark bond is trading at 7.521% compared with its Monday’s close of 7.513%.

9:15am: The dollar is little changed at 120.47 yen from 120.42 yen in the previous day’s trading. The euro falls to $1.1183 from $1.1192.

9:10am: US benchmark crude slips 4 cents to $46.22 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude rises 9 cents to $49.96 a barrel in London.

9:05am: Japan’s Nikkei 225 jumps 1.1% to 18,198.50 and South Korea’s Kospi adds 0.5% to 1,988.60. Hong Kong’s Hang Seng inches up 0.1% to 21,873.39. Australia’s S&P/ASX 200 is up 0.7% to 5,185.80. Benchmarks in Singapore, Taiwan, the Philippines and New Zealand are also higher. Markets in mainland China are closed until Thursday.

9:00am: Japan lead Asian stocks higher on hopes for new stimulus from its central bank while investors were also buoyed by the prospect that the Federal Reserve will wait until next year to raise interest rates.

8:55am: The Dow Jones industrial average added 1.9% to close at 16,776.43 on Monday. The Standard and Poor’s 500 ended 1.8% higher at 1,987.05. The Nasdaq composite index rose 1.6% to 4,781.26.