BSE Sensex and NSE Nifty trade higher on Wednesday. Photo: Hemant Mishra/Mint
- Mumbai: BSE Sensex and NSE’s Nifty 50 gained on Wednesday, snapping a three-day falling streak, as investors and domestic institutions widened their bets amid firm Asian cues. Short-covering by speculators ahead of February F&O expiry tomorrow added to the upward move. Brokers said fresh buying in select blue chip stocks, coupled with covering-up of outstanding short positions ahead of the February F&O expiry, had a positive impact on the market. On a net basis, DIIs bought shares worth Rs1,437.24 crore, while FPIs sold shares worth Rs850.35 crore on Tuesday, as per provisional data. The rupee weakened further against the US dollar ahead of the RBI’s minutes for the latest policy meeting due after 5pm. (PTI) Here are the latest updates from the markets:
- 1.13 pm IST Market updateBSE Sensex traded higher by 43.35 points, or 0.13%, to 33,746.94, while the Nifty 50 gained 3.65 points, or 0.04%, to 10,364.05. Meanwhile, BSE MidCap was down 0.58% and SmallCap fell 0.42%. Fourteen out of nineteen sectoral indices on BSE traded lower led by metal, down 1.86%, basic materials 1.26%, healthcare 1.14% and realty 0.98%. IT and Tech rose 1.41% and 1.13%, respectively.
- 1.10 pm IST Balrampur Chini Mills to buyback shares worth Rs99 croreBalrampur Chini Mills Ltd said its board of directors has approved the buyback of 6,600,000 equity shares for an aggregate amount of upto Rs99 crore. Shares traded 2.60% lower at Rs116.05.
- 1.07 pm IST Capillary Technologies raises $20 million from Warburg Pincus, othersEnterprise software company Capillary Technologies Pvt. Ltd has raised $20 million in a new round of funding from private equity firm Warburg Pincus, venture capital firm Sequoia Capital and existing investor. It will use the fresh round of funding to strengthen product development capabilities, especially around artificial intelligence (AI) and machine learning.
- 1.05 pm IST Yes Bank to issue Rs3000 crore Basel III compliant bondsYes Bank Ltd said its capital-raising committee has approved issue of Rs3,000 crore Basel III compliant tier 2 bonds. Shares traded 0.40% lower at Rs308.05.
- 12 pm IST Market updateBSE Sensex traded higher by 106.76 points, or 0.32%, to 33,810.35, while the Nifty 50 gained 22.45 points, or 0.22%, to 10,382.85.
- 11.57 am IST EPFO to announce interest rate today: 4 things to watch out forRetirement fund manager Employees’ Provident Fund Organization (EPFO) will announce the 2017-18 provident fund interest rate for over 50 million subscribers on Wednesday after a meeting of its Central Board of Trustees (CBT).
EPFO to announce interest rate today: 4 things to watch out for https://t.co/VWgdpLyqbj
— Livemint (@livemint) February 21, 2018
- 11.55 am IST BHEL wins Rs1034 crore contractBharat Heavy Electricals Ltd said it has won a contract worth Rs1,034 crore from Hindustan Petroleum Corp. for setting up a gas turbine based captive power plant at Visakhapatnam, Andhra Pradesh. Shares traded 0.32% lower at Rs92.85.
- 11.52 am IST Bitcoin rises as South Korea flags better deal for cryptocurrenciesBitcoin is now changing hands at a three-week high of $11,160 on the Luxembourg-based Biststamp exchange. Choe Heung-sik, chief of South Korea’s Finance Supervisory Service (FSS) said on Tuesday that it hopes to see South Korea—which has become a hub for cryptocurrency trade—normalise the virtual coin business in a self-regulatory environment.
- 11.25 am IST Sun Pharma shares fall 7% after block dealSun Pharmaceuticals Industries Ltd shares declined 7% to Rs520.45 after a huge block deal. Around 1.3 million shares of the company changed hands in a block deal, according to Bloomberg. However, details of the buyers and sellers were not known.
- 11.23 am IST Global gold prices hit one-week low on strong dollarGold prices fell further and hit a one-week low as the dollar steadied after a recovery from last week’s three-year low, while investors awaited the minutes of the US Federal Reserve’s last policy meeting for clues on the pace of interest rate hikes this year. Spot gold had slipped by 0.2% to $1,326.37 an ounce by 9.23am and was down for a fourth straight session. Earlier in the day, prices touched the lowest since 14 February at $1,325.31 an ounce. US gold futures were down 0.2% at $1,328.5 per ounce.
- 10.35 am IST Market updateBSE Sensex traded higher by 45.05 points, or 0.13%, to 33,748.64, while the Nifty 50 was little changed at 10,360.10. BSE MidCap was down 0.23%, while SmallCap edged down 0.06%. Among the sectoral indices on BSE, IT, Teck and FMCG leading the gains, while metal, healthcare and basic materials were trading lower.
- 10.33 am IST IT stocks trade higher following Nasscom growth outlookMid Cap IT stocks are trading higher after Nasscom said the software services exports will see revenue growth of 7-9% in constant currency terms in the fiscal year to March 2019. L&T Technology Services Ltd rose 7%, Infinite Computer Solutions India Ltd rose 5%, NIIT Technologies Ltd rose 4%, Mindtree Ltd 4%, Persistent Systems Ltd 4%, Mphasis Ltd 4%, Mastek Ltd 4%, Larsen & Toubro Infotech Ltd 4%, Hexaware Technologies Ltd 4%.
- 10.30 am IST Metal stocks trades lowerMetal stocks trades lower. Hindalco Industries Ltd fell 4%, Steel Authority Of India Ltd 1.8%, Vedanta Ltd 1.7%, Coal India 1.4%, National Aluminum Co Ltd 1.2%, Jindal Steel & Power Ltd 1.2%, JSW Steel Ltd 1%, Tata Steel Ltd 1%.
- 10.27 am IST Steel Strips Wheels shares gainSteel Strips Wheels Ltd said it has received an export order of about 46,000 steel wheels from BMW. Shares rose 1.71% to Rs985.
- 9.53 am IST Eros International shares rise 9% following deal with RILEros International Media Ltd shares jumped 9% to Rs213.85 after Reliance Industries Ltd (RIL) on Tuesday said it will buy a 5% stake in NYSE listed Eros International Plc (Eros) through a subsidiary. RIL will pay $15 per Eros International share, which represents an 18% premium to Friday’s closing price. The two parties will invest up to Rs1,000 crore each to produce and acquire Indian films and digital originals across all languages Reliance Industries Ltd rose 0.6%
- 9.50 am IST Biocon shares fall as USFDA issues observationsBiocon Ltd shares fell 1.7% to Rs562.55 after the company said US food and drug regulator issued Form 483 with six observations.
- 9.48 am IST Dilip Buildcon shares gain on receipt of new orderDilip Buildcon Ltd shares rose 3.4% to Rs949 after the company said it got orders worth Rs380 crore from NHAI in Karnataka.
- 9.45 am IST Nasscom has better visibility, but haze lingersEven if we were to assume for a moment that growth rates in the IT sector turn out to be how Nasscom expects them to be in FY19, there’s nothing much for investors to get excited about.
Nasscom has better visibility, but haze lingers
Even if we were to assume for a moment that growth rates in the IT sector turn out to be how Nasscom expects them to be in FY19, there”s nothing much for investors to get excited about https://t.co/7E6PAeMcXL @mobis_philipose
— Mint Mark to Market (@livemint_m2m) February 21, 2018
- 9.43 am IST Rupee weakens against US dollar ahead of RBI minutesThe Indian rupee weakened further against the US dollar ahead of the Reserve Bank of India’s (RBI) minutes for the latest policy meeting due after 5pm. The home currency was trading at 64.87, down 0.12% from its previous close of 64.79. The local currency opened at 64.94 and touched a low of 64.94 a dollar, a level last seen on 22 November. Yield on 10-year government bond was at 7.668% compared to its Tuesday’s close of 7.673%.
- 9.30 am IST Market updateBSE Sensex traded higher by 112.77 points, or 0.33%, to 33,816.36, while the Nifty 50 gained 33.20 points, or 0.32%, to 10,393.60.
First Published: Wed, Feb 21 2018. 09 35 AM IST