News Details

( 07 Dec 2017)
Markets open higher in early trade

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

With the Reserve Bank of India delivered what was expected, keeping the benchmark repo rate unchanged at 6 per cent, now all eyes will be on assembly elections in Gujarat, which might have impact on the government policies ahead.

On the initial public offer (IPO) front, shares of Shalby Hospitals was subscribed 46 per cent on the second day of the bidding process, while Future Supply Chain Solutions subscribed 25 per cent on the first day of offer by 5 pm.

On the corporate front, shares of Infosys will remain in focus after the IT major moved to the Securities and Exchange Board of India (Sebi) to settle the severance agreement it signed with former CFO Rajiv Bansal in 2015.

At 09:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 32703.29 up by 106.11 points or by 0.33 per cent, while the NSE Nifty was at 10072.20 up by 28.10 points or by 0.28 per cent.

The top gainers of the BSE Sensex pack were Coal India Ltd. (Rs. 269.50,+1.70 per cent), Wipro Ltd. (Rs. 286.65,+1.54 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 517.95,+1.25 per cent), Tata Motors Ltd. (Rs. 229.00,+1.17 per cent), ITC Ltd. (Rs. 252.00,+0.22 per cent), among others.

Meanwhile, Larsen & Toubro Ltd. (Rs. 1180.05,-0.84 per cent), Tata Motors Ltd. (Rs. 394.00,-0.71 per cent), Hindustan Unilever Ltd. (Rs. 1270.00,-0.30 per cent), Reliance Industries Ltd. (Rs. 925.00,-0.27 per cent), Power Grid Corporation of India Ltd. (Rs. 200.00,-0.15 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 391 shares traded, 207 shares advanced, 148 shares declined while 36 were unchanged.

On the global front, Asian stocks were trading mixed as softer oil and copper as well as US policy uncertainty kept sentiment in check, while the Wall Street closed lower in the previous trading session as investors weighed signs of risk in the markets and with US policy.