The BSE Sensex which opened at 25,953.24 points, closed at 26,316, up 456 points or 1.76% from the previous close at 25,860.17 points. The Sensex touched a high of 26,244 points and a low of 25,874.45 points during the intra-day trade so far.
The NSE Nifty closed with a gain of 142 points at 8,107. The NSE Nifty opened at 8,008 hitting a high of 8,122 and low of 7,977.
The Sensex, Nifty opened in the green on Friday morning. The domestic market is trading higher tracking positive trade in Asian markets even as investors weighed the prospect of a higher interest-rate environment in the U.S.
On the economy front, PM Narendra Modi pushed for the need to move towards a digital economy, saying that people have the right to use their money, but that can also be done digitally.
At 11:49 AM, the S&P BSE Sensex is trading at 26,121 up 268 points, while NSE Nifty is trading at 8,064 up 99 points.
The BSE Mid-cap Index is trading up 0.93% at 12,139, whereas BSE Small-cap Index is trading up 1.53% at 11,973.
Tata Steel, Infosys, GAIL, TCS, Wipro and Asian Paints are among the gainers, whereas Tata Motors, Cipla, NTPC, Bharti Airtel and Dr. Reddy's are losing sheen on BSE.
Some buying activity is seen in metal, IT, PSU Bank, media, pharma and Bank Nifty sectors, while auto sector is showing weakness on NSE.
The INDIA VIX is down 0.59% at 17.0575. Out of 1,874 stocks traded on the NSE, 269 declined, 1,213 advanced and 392 remained unchanged today.
A total of seven stocks registered a fresh 52-week high in trade today, while 59 stocks touched a new 52-week low on the NSE.
Amtek Auto Ltd is currently trading at Rs 37.35, up by Rs 2.55 or 7.33% from its previous closing of Rs 34.8 on the BSE. The scrip opened at Rs 35.05 and has touched a high and low of Rs 37.45 and Rs 34.55 respectively. So far 1311787 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 782.15 crore.
Sun Pharma rose 1%. The US drug regulator has found seven breaches of manufacturing standards at Sun Pharmaceutical Industries Ltd’s formulations plant in Mohali, Punjab, following a recent inspection.
SpiceJet rallied 4.4%. The company will announce its Q2 numbers today.
Jagran Prakashan gained 1.5%. The company said its subsidiary Music Broadcast will raise up to Rs 400 crore through initial public offer.
Vardhman Textiles advanced 1.3%. The board of the company has approved buyback proposal for up to Rs 720 crore.
Reliance Industries is trading marginally lower on the BSE. A flash fire broke out at Reliance Industries’ Ltd refinery complex at Moti Khavdi near Jamnagar on Thursday in which some contract workers were injured, the company said.
Wipro rose 2.2%. The company has informed bourses that it has granted 5,000 Restricted Stock Units under Restricted Stock Unit Plan 2007 effective November 1, 2016 to its identified employee.
Khaitan (India) jumped 4.7%. The company has infomed bourses that it has submitted an application for reference to the Board for Industrial and Financial Reconstruction (BIFR) as it has become a sick industrial company pursuant to the provisions of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA).
Jindal Poly Films dropped 2.9%. The company reported a consolidated net profit of Rs 77 crore for the September quarter, lower than the Rs 99.9 crore in the year-ago period.
Talwalkars Better Value Fitness climbed 3.6% after the management has decided to demerge gym business, thereby transferring gym business of TBVFL to TLL, in the interest of maximising overall shareholder value.
TCS rallied 2.5%. Tata Consultancy Services is rethinking how it appraises its over 3,70,000 employees after scrapping the Bell Curve model.
Sterlite Technologies zoomed 3%.The company informed bourses that Crisil has upgraded the Long term credit rating to 'CRISIL AA-/Stable' from 'CRISIL A+/Watch Developing' and Short term credit rating have been upgraded to ‘CRISIL A1+’ from 'CRISIL A1 /Watch Developing’.
LT Foods gained 2.3%. The company has inked a 51:49 joint venture with Kameda Seika, to sell rice-based snacks in India.
Natco Pharma inched up 1% after the pharma company has received final approval from the US health regulator for generic version of Budesonide capsules used for treatment of active Crohn's disease for the American market.
YES Bank gained 2% To Rs 1,143. The bank announced a partnership with Gujarat State Road Transport Corporation (GSRTC) to digitise payment of bus tickets for its customers.
DLF Ltd is currently trading at Rs 110.6, down by Rs 2.55 or 2.25% from its previous closing of Rs 113.15 on the BSE.
The Indian rupee opened marginally higher by one paise at 68.72/$ against the previous close of 68.73/$.
Asian markets opened in the green with commodities leading the charge as the yen hits 113 to the US$. The Japanese Nikkei stock index has entered a new bull market as exporters benefit from the falling yen. The Nikkei has risen from levels of sub 15000 on Brexit day to over 18000 today, which is further seeing flows unabated as investors chase higher returns in developed markets.
The demonetization drive is coming under severe criticism from the Opposition parties with former Prime Minister Manmohan Singh terming it as a ‘monumental failure’ in its implementation.
The Finance Minister shot back citing a litany of scams that had emerged during the previous government’s rule. One thing is for sure. The demonetization has sent most calculations awry – be it GDP growth, tax collections or the serpentine queues waiting for their money in cash form. The rupee continues to struggle breaching its Aug 2013 lows and is flirting near the 69 per dollar mark.
Foreign investors are net short 3,086 contracts in the index futures. The rollovers were better than anticipated at 61 pc but much lower than the three-month average of 75 pc. A strong earthquake rattled Central America raising concerns of tsunami waves. Oil prices moved higher ahead of next week’s crucial OPEC meet.