Benchmark indices were trading in the green in the afternoon trade on Tuesday. BSE Sensex was trading 82 points or 0.26 per cent higher at 31,929.35 and Nifty50 at 10,013.20, up 24.45 points or 0.24 per cent at around 12.45 pm (IST).
BSE Smallcap index was trading up in Tuesday’s afternoon trade, backed by gains in stocks such as TVS Electronics (up 20 per cent), Sanwaria Consumer (up 19.93 per cent), India Glycols (up 16.38 per cent) and HSIL (up 13.63 per cent).
Meanwhile, shares of Shiva Granito Export, TVS Electronics, Amrit Corp, Tyche Inds, Saboo Sodium, Schrader Duncan, Times Guaranty, Sanwaria Agro, Genus Paper Boards and India Glycols hit their fresh 52-week highs today.
11.20 am: Sensex, Nifty extend gains; Nifty IT top sectoral gainer
BSE Sensex was trading as many as 124 points or 0.39 per cent higher at 31,976.66 with shares of Lupin (up 2.33 per cent), Reliance (up 1.61 per cent), Infosys (up 1.23 per cent), HDFC Bank (up 1.06 per cent) and Coal India (up 1.03 per cent) being the top gainers on the index.
Meanwhile, Nifty50 was trading aove 10k mark at 10,025.80, up 37 points or 0.37 per cent at around 11.20 am (IST).
Barring Nifty Realty (down 0.23 per cent), Nifty FMCG and Nifty PSU Bank (down 0.05 per cent each), all other indices were trading in green. Nifty IT (up 0.73 per cent) was the top sectoral gainer at around the same time.
The Nifty FMCG index (down 0.03 per cent) appeared volatile as the stocks such as Jubilant Foodworks (down 1.24 per cent), Marico (down 0.43 per cent), ITC (down 0.41 per cent) and Procter Gamble Hygiene Healthcare (down 0.21 per cent) weighed on the index.
09.25 am: Sensex rises 100 points; Nifty above 10K; Lupin, Infosys top gainers
Benchmark indices opened on a positive note on Tuesday, amid lack of directional cues from global markets. Asian markets ticked higher in cautious trade as geopolitical tensions eased a bit as North Korea on the anniversary of the founding Communist Worker’s Party and the Kim dynasty of rulers not conducting another missile test, as was feared.
At 9.25 am, the BSE Sensex was trading 91.97 points, or 0.29 per cent, higher at 31,938. The Nifty50 was ruling at 10,017.30, up 28.55 points, or 0.29 per cent.
“We still believe that one should avoid aggressive longs in the index at this juncture and should rather focus on individual stocks that are offering trading opportunities in both directions. For the coming session, 10,015-10,043 would be seen as immediate hurdles; whereas, on the lower side, any sustainable move below 9,959 would result into some weakness towards 9,930 – 9,880 levels,” Angel Broking said in a note.
Among Sensex stocks, Lupin gained 2.53 per cent to Rs 1,066.10. The drugmaker has received final approval for its Nadolol tablets from USFDA, which is a generic version of US WorldMeds’ Cogard. The drug is used for treatment of hypertension, in the American market.
Infosys rose 1.11 per cent to Rs 933.90 after shareholders overwhelmingly backed the return of Nandan Nilekani in postal ballot. The shareholders voted in favour of the appointment of Nandan Nilekani as non-executive chairman of the company , the results of the postal ballot showed.
Cipla advanced 1.03 per cent to Rs 591.50. Larsen Toubro rose 0.96 epr cent to Rs 1156.90. The infrastructure major has won half of the government’s order to supply 5 million smart metres for its energy efficiency programme, according to a top executive of Energy Efficiency Services Limited (EESL), the company that conducted the tender.
Adani Ports, HDFC and Bajaj Auto declined up to 0.65 per cent.
Meanwhile, Asian shares rose in early trade ahead of US Fed minutes of recent policy meet on Wednesday.
On the IPO front, the Rs 1,001 crore initial public offering (IPO) by India’s leading power trading platform Indian Energy Exchange (IEX) was subscribed 15 per cent on the Day 1 of bidding process.
The initial share sale offer of MAS Financial Services, on the other hand, was oversubscribed 4.81 times on the second day of subscription. The IPO, to raise Rs 460 crore, received bids for 3,42,91,872 shares as compared to the total issue size of 71,24,910 shares, as per NSE data.