Markets

News Details

( 07 Nov 2017)
Markets open higher in early trade

The key domestic benchmark indices opened higher in the morning trading session tracking firm cues and bullish trend across global peers.

On the economy front, the government has formed a multi-agency panel led by the chairman of the income tax (I-T) department to carry out a probe into the Paradise Papers leak of financial documents.

On the earnings front, big companies like BHEL, Cipla, Indian Overseas Bank, Jindal SAW, Balrampur Chini, Manappuram Finance Jyothy Labs, Finolex Cables, Tata Coffee and VIP Industries, will release their quarterly results this week.

At 09:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 33834.43 up by 103.24 points or by 0.31 per cent, while the NSE Nifty was at 10476.90 up by 25.10 points or by 0.24 per cent.

The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1399.55,+2.58 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 202.00,+1.69 per cent), Cipla Ltd. (Rs. 663.25,+1.20 per cent), Maruti Suzuki India Ltd. (Rs. 8359.90,+0.70 per cent), Tata Motors Ltd. (Rs. 261.00,+0.68 per cent), among others.

Meanwhile, Tata Motors Ltd. (Rs. 458.00,-0.77 per cent), Kotak Mahindra Bank Ltd. (Rs. 1004.40,-0.43 per cent), Infosys Ltd. (Rs. 928.50,-0.01 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 1136 shares traded, 832 shares advanced, 261 shares declined while 43 were unchanged.

On the global front, Asian stocks were trading higher after the Wall Street ended at record high in overnight trade led by rally in energy stocks, while the Wall Street closed higher in the previous trading session helped by optimism about merger activity and as investors bet that a Republican plan to cut corporate taxes would bolster earnings.