Markets

News Details

( 03 Nov 2017)
Markets open higher in early trade

The key domestic benchmark indices opened higher in the morning trading session tracking mixed cues across global peers.

On the corporate front, Bharti Airtel will remain in focus after the telecom major said that it will invest Rs 25,000 crore in expanding and strengthening its 4G network during this fiscal year. The investors will also react to earnings number of index heavyweight Vedanta which posted a less than expected consolidated net profit of Rs 2,036 crore in the September quarter, up 43 per cent from the same period last year. Among others, banking stocks will remain in focus as three state-run banks such as Punjab National Bank, Union Bank and UCO Bank will announce their results.

On the earnings front, big companies like Edelweiss Financial Services, Godrej Properties, Hindalco, PFC, Shipping Corporation of India, Tata Power, Titan and Torren Pharma will release their quarterly results today.

At 09:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 33674.35 up by 101.13 points or by 0.30 per cent, while the NSE Nifty was at 10453.40 up by 29.60 points or by 0.28 per cent.

The top gainers of the BSE Sensex pack were Power Grid Corporation of India Ltd. (Rs. 221.00,+2.79 per cent), Hero MotoCorp Ltd. (Rs. 3825.00,+2.46 per cent), Axis Bank Ltd. (Rs. 535.00,+0.92 per cent), ITC Ltd. (Rs. 267.90,+0.87 per cent), Kotak Mahindra Bank Ltd. (Rs. 1028.00,+0.81 per cent), among others.

Meanwhile, Cipla Ltd. (Rs. 622.60,-1.73 per cent), Bharti Airtel Ltd. (Rs. 540.00,-0.57 per cent), NTPC Ltd. (Rs. 179.90,-0.33 per cent), Coal India Ltd. (Rs. 291.00,-0.22 per cent), HDFC Bank Ltd. (Rs. 1820.05,-0.12 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 591 shares traded, 413 shares advanced, 142 shares declined while 36 were unchanged.

On the global front, Asian stocks were trading mixed after the Wall Street ended on soft note in overnight trade as investors digested the Republicans' tax-reform plan and nomination of Jerome Powell as the next Federal Reserve Governor by the US President Donald Trump. , while the Wall Street closed mixed in the previous trading session as investors digested the Republicans' tax-reform plan.