The BSE Sensex and NSE Nifty climbed nearly 0.50 per cent on Thursday following positive cues from the global markets, as strong US earnings and rally in oil prices helped spur global risk appetite. The 30-share index closed 145.47 points up at 28129.84, while Nifty settled 40.30 points up at 8699.40. In the Nifty 50-index, Adani Ports, ICICI Bank, Hindalco, Bharti Infratel and Idea Cellular gained between 2.35 per cent and 5.02 per cent. On the other hand, HCL Technologies, Tata Motors DVR, HUL, Sun Pharma and Tata Motors dipped between 0.60 per cent and 1.71 per cent.
3.02 pm: LIC Housing Finance was trading 0.53 per cent down at Rs 612.70. Sensex was up 143.13 points at 28127.50, while Nifty was trading 36.90 points up at 8696.
2.13 pm: Engineers India was trading 0.58 per cent up at Rs 260.90. Engineers India (EIL) and Cochin Shipyard (CSL) have joined hands for design and construction of small scale LNG carriers. This initiative, under the ambit of ‘Make in India’ programme, aims at joint design and building small-scale LNG carriers. Both the companies have inked a Memorandum of Understanding (MoU) for the same.
1.18 pm: DB Corp was trading 9 per cent up at Rs 435.20. Sensex was trading 135 points up at 28119. Nifty was up 38.80 points up at 8,698. DB Corp reported 55.07 per cent rise in its net profit at Rs 89.49 crore for the quarter ended September 2016 as compared to Rs 57.71 crore for the same quarter in the previous year. Total income of the company increased by 9.75 per cent at Rs 532.87 crore for Q2FY17 as compared Rs 485.51 crore for the corresponding quarter previous year.
12.33 pm: Yes Bank was trading 1.56 per cent up at Rs 1,312. For the quarter ended September 2016, the bank reported net profit of Rs 801.54 crore, up 31.31 crore, against Rs 610.41 crore in the corresponding quarter a year ago. Read more
11.42 am: In order to increase its capital adequacy, State Bank of India (SBI) is reportedly planning to raise up to Rs 3,300 crore through additional tier-1 (AT1) bonds. This is the second time in recent months that SBI is looking to raise funds through this route. In September, the bank had issued AT1 bonds worth Rs 2100 crore to YES Bank at a coupon (interest rate) of nine per cent. CRISIL has assigned ‘AA+’ for these bonds. SBI was trading 2.12 per cent up at Rs 260.20.
11.26 am: KPIT Technologies has reported 35.22 per cent rise in its net profit at Rs 49.15 crore for the quarter under review as compared to Rs 36.35 crore for the same quarter in the previous year. Total income of the company increased by 6.34 per cent at Rs 345.47 crore for Q2FY17 as compared Rs 324.88 crore for the corresponding quarter previous year. Shares of company were trading 4.05 per cent up at Rs 141.25.
10.36 am: Mangalore Chemicals & Fertilizers was trading 3.08 per cent down at Rs 61.40. Shares of the company surged 20 per cent on Wednesday after the company reported Rs 15.35 crore standalone net profit for the quarter ended September 30. It had reported a net loss of Rs 19.43 crore in the year-ago period.
10.31 am: Hindustan Construction (HCC) was trading 3.48 per cent up at Rs 38.70. HCC Concessions, a subsidiary of HCC, has commenced commercial operations of its Rs 1,720 crore Farakka Raiganj Highways (FRHL) in Bengal. FRHL covers the busiest section of NH-34 over 100 km and passes through major towns such as Farakka, Kaliachawk, Malda, and Gajol, besides being the only link over the river Ganges in the region. The project, which has a concession period of 30 years, forms an integral part of HCC’s Rs 4,300 crore development of NH- 34 across three contiguous stretches over 256 km between Baharampore and Dalkhola (the first leg between Baharampore to Farakka has been operational since May 2014 with a current daily collection of approximately Rs 40 lakh).
9.56 am: Sensex was up 209.77 points at 28194. Nifty was up 57.65 points at 8,716. In the Nifty 50 index, Idea Cellular, ICICI Bank, Bharti Infratel, HDFC and Ambuja Cement were up between 1.40 per cent and 3.75 per cent. On the other hand, HCL Tech, Wipro, ITC, Adani Ports and Bharti Airtel were down between 0.01 per cent and 0.74 per cent.
9.23 am: Quess Corp was trading 4.64 per cent up at Rs 623.50. Quess Corp has entered into agreements to acquire stakes in Singapore-based Comtel Solutions and two domestic firms – Terrier Security Services and Simpliance Technologies – for undisclosed sums. The deal would also give a boost to Quess’ operations in Asia Pacific markets such as Malaysia, the Philippines and Sri Lanka, where it operates. Initially, Quess will acquire a 64 per cent stake in Comtel, while the balance would be acquired in a phased manner over 2018-20. Sensex was trading 192 points up at 28175, while Nifty was up 52.30 points at 8,711.40. Read more
9.17 am: Sensex was trading 125.17 points up at 28109. Nifty was up 34.70 points at 8693.80. Stock in focus: Quess Corp, RBL Bank, Suzlon, KPIT and more
9.15 am: The BSE Sensex opened 47.20 points up at 28031.57. Nifty opened 34.25 points up at 8693.35.
Below are 5 things you should know before market opens on Thursday:
1) SGX Nifty was trading 34.50 points, or 0.40 per cent, up at 8,692.50, indicating a positive start for domestic equity markets.
2) Asian peers gained on Thursday, propelled by strong US earnings and oil prices near a 15-month high, as the third and final U.S. presidential debate before the Nov 8 election got underway.
3) Overnight, the S&P 500 index and the Dow Jones Industrial Average index gained 0.2 percent, after Morgan Stanley posted a better-than-expected quarterly profit to round out a string of solid results from big US banks.
4) Oil prices dipped on Thursday on profit booking after markets rallied the previous day due to a draw in US stocks and an expectation of an OPEC-led cut in production.
5) Results Today: Reliance Industries, DB Corp, LIC Housing Finance, Kajaria Ceramics and YES Bank will announce their financial results for the quarter ended September 30, 2016 on Thursday.