Finally, the BSE Sensex ended with a loss of 16 points at 28,507. The BSE Sensex opened at 28,554 touched an intra-day high of 28,689 and low of 28,462.
The NSE Nifty closed with a loss of mere one points at 8,777. The NSE Nifty opened at 8,790 hitting a high of 8,827 and low of 8,757.30.
The S&P BSE Sensex on Wednesday jumped over 100 points, while the broader Nifty went above its key 8,800 level. The Nifty opened 14 points up at 8,790, while the Sensex opened 31 points up at 28,554. The Bank of Japan refrained from cutting interest rates from -0.1% at its monetary policy meeting, choosing instead to modify its existing policy framework.
At 2:03 PM, the S&P BSE Sensex is trading at 28,561 up 37 points, while NSE Nifty is trading at 8,788 up 17 points. The BSE Mid-cap Index is trading up 0.23% at 13,150 whereas BSE Small-cap Index is trading up 0.50% at 12,861.
Adani Ports, Bharti Airtel, GAIL, Axis Bank, Sun Pharmaceuticals and Power Grid are among the gainers, whereas Hero MotoCorp, Maruti Suzuki, Bajaj Auto and ONGC are losing sheen on BSE.
Some buying activity is seen in telecom, realty, capital goods, consumer durables, utilities and pharma sectors, while auto sector is showing weakness on BSE.
On the global front, the US Federal Reserve is scheduled to deliver their latest monetary policy decisions on Wednesday.
Welspun Corp Ltd is currently trading at Rs. 77.25, up by Rs. 2.95 or 3.97% from its previous closing of Rs. 74.3 on the BSE. The company announced that the Company's manufacturing unit at Anjar, Gujarat has been awarded with the following awards in the 27th Annual Convention on Quality Concepts organized by the Quality Circle Forum of India, Secunderabad (Vadodara Chapter).
Team Lease Services Ltd is currently trading at Rs. 1160.25, up by Rs. 61.15 or 5.56% from its previous closing of Rs. 1099.1 on the BSE. The company has signed a definitive agreement to acquire NichePro Technologies Pvt Ltd for an enterprise value of up to Rs. 29.5 crore.
Inox Leisure Ltd is currently trading at Rs. 272.5, up by Rs. 2.25 or 0.83% from its previous closing of Rs. 270.25 on the BSE. The Reserve Bank has allowed foreign investors to buy up to 49% stake in Inox Leisure Ltd under the Portfolio Investment Scheme (PIS).
Shriram EPC Ltd is currently trading at Rs. 25.95, up by Rs. 2.75 or 11.85% from its previous closing of Rs. 23.2 on the BSE. The company announced that it has been awarded contract of over Rs.74 crore. The company received an order from Chennai Metropolitan Water Supply and Sewage Board for providing comprehensive water supply scheme in Chennai city.
Indoco Remedies rallied 3.2% after the company has acquired the manufacturing facility located at Baddi of Micro Labs Ltd., (a Bangalore based company)
Prestige Estates Projects gained 1.3%. The company is planning to raise at least $300 million, around Rs.2,000 crore, by selling up to 40% stake in its rent-yielding commercial assets and has drawn interest from Canadian Pension Plan and GIC of Singapore, as per media reports.
Inox Leisure inched up 1%. The Reserve Bank has allowed foreign investors to buy up to 49% stake in Inox Leisure Ltd under the Portfolio Investment Scheme (PIS).
Monsanto India zoomed 4%. German chemicals conglomerate Bayer made an open offer to buy 26% in Monsanto India as part of a global deal. Bayer is acquiring the U.S. based seed major Monsanto for $66 billion, as per media report.
Trent Ltd slipped 0.55%. Trent Ltd has informed BSE that the Company has redeemed 3,000 rated listed unsecured redeemable non - convertible debentures ("NCDs") of face value Rs.10 lakhs each at par on due date i.e. September 20, 2016. Total redemption amount was Rs.300 crore.
NBCC advanced 1% to Rs.254.50. NBCC (India) said that it has secured work orders amounting to about Rs.440 crore.
IRB Infrastructure Developers gained 1.1%. IRB Infrastructure said it has bagged a DBFOT road project for six-laning of 125 km long Kishangarh-Udaipur-Ahmedabad section in Rajasthan.
Vardhman Textiles Ltd climbed 6%. Vardhman Textiles will consider proposal to buy-back the fully paid-up equity shares of the company, as per media reports.
TeamLease Services Ltd zoomed 5%. The company has signed a definitive agreement to acquire NichePro Technologies Pvt Ltd for an enterprise value of up to Rs. 29.5 crore.
Adani Ports inched up 1%. Abbot Point Operations Pty Ltd (APO), the Australian subsidiary of Adani Ports and Special Economic Zone Limited (APSEZ) has entered into an agreement to acquire ownership of Abbot Point Bulkcoal Pty Ltd (APB).
Kolte-Patil Developers Ltd slipped 1% to Rs.127. The company said it had generated an internal return rate of 36% on its Margosa Heights project in Pune, which it co-developed with Portman Holdings.
The INDIA VIX is down 1.20% at 14.6025. Out of 1,866 stocks traded on the NSE, 629 declined, 950 advanced and 287 remained unchanged today.
A total of 56 stocks registered a fresh 52-week high in trades today, while 15 stocks touched a new 52-week low on the NSE.
The rupee opened higher two paise at 66.99/$ against US Dollar Wednesday as against the previous close of 67/$.
Asian markets got off to a tentative start. Shanghai Composite and Hang Seng are trading in red, while Nikkei 225 is marginally down.
Wall Street closed flat on Tuesday. The Dow Jones industrial average rose 9.79 points, or 0.05%, to 18,129.96, the S&P 500 gained 0.64 points, or 0.03%, to 2,139.76 and the Nasdaq Composite added 6.33 points, or 0.12%, to 5,241.35. Oil prices were up in early Asian trade with US crude oil futures up 2% to USD 44.85 per barrel.
In the cabinet meeting today, the government to consider the finance ministry's proposals to reform the entire budgetary process, including advancing the date of budget presentation, merging the Railway budget with general budget and dropping the plan and non-plan distinction.
Moody's Investors Service said the reforms undertaken by the government will help boost investor confidence and bolster growth potential, but cautioned muted private investment and banking sector risks will remain a constraint on India's sovereign rating.
The initial public offering (IPO) of ICICI Prudential Life Insurance Co. Ltd, excluding the anchor book, was subscribed 51.96% on Tuesday, the second of the three-day offering.
Read More: Opening Bell - Sensex, Nifty flat in early trade
Pre-Market - Sensex, Nifty to open on a flat note
Top 17 stocks in focus today: IOC, Inox Leisure, Monsanto