MarketExpress Live: Sensex settles at 33,600, Nifty ends above 10,400, Airtel hits decade high; New India Assurance IPO fully subscribed

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Updated: November 1, 2017 6:10:23 PM

Sensex and Nifty started higher on Wednesday after India ranked 100th for the first time in the World Bank’s Ease of Doing Business ranking 2018. BSE Sensex gained 131.1 points or 0.39% to open at 33,344.23 points while NSE Nifty rose 55.05 points or 0.53% to begin at 10390.35 points.

Bombay Stock Exchange building. (Image: Wikimedia Commons)

Sensex and Nifty started higher on Wednesday after India ranked 100th for the first time in the World Bank’s Ease of Doing Business ranking 2018. BSE Sensex gained 131.1 points or 0.39% to open at 33,344.23 points while NSE Nifty rose 55.05 points or 0.53% to begin at 10390.35 points. Narendra Modi’s dream of steering India into the best countries to do business took a giant stride forward today with the country vaulting 30 places straight into top 100 in the World Bank’s Ease of Doing Business ranking 2018. In the World Bank’s latest ‘Doing Business’ report, India ranked 100th for the first time, leapfrogging 30 places from the last year’s 130, firmly aided by implementation of reforms in as many as eight out of 10 fronts, including the crucial ones such as starting a business, paying taxes and resolving bankruptcy.

Shares of Hero MotoCorp and Tech Mahindra will be in watch today ahead of their Q2 earnings. Other Companies which are also slated to announce their second-quarter earnings are Apollo Tyres, Eclerx Services, ENIL, Godrej Consumer Products, Greaves Cotton, Hexaware Technologies, JSW Energy, Max India, Shriram Transport Finance, Tourism Finance Corporation Of India, and TVS Motor.

6.00 pm:  Khadim’s India Rs 543 crore IPO opens tomorrow: Should you subscribe?

The IPO (initial public offering) of the Kolkata-based footwear retailer Khadim’s India for Rs 543 crore is all set to open tomorrow. Here’s what top brokerages have to say about the issue.

5.35 pm: New India Assurance Rs 10,000 crore IPO fully subscribed on Day 1

The near Rs 10,000 crore IPO of state-owned New India Assurance was fully subscribed on Day 1, backed by strong demand from institutional investors.

5.30 pm: Cognizant Technology Solutions Q3 net profit up 11.5% to $495 million, meets estimates

IT services firm Cognizant Technology Solutions reported a 9.1% rise in third quarter revenue backed by higher spending from its healthcare and financial clients.

5.25 pm: Mahindra Logistics IPO oversubscribed 39% on day 2; retail investors bid over 2 times: The IPO of Mahindra Logistics which opened for bidding on Tuesday was oversubscribed 39% on the second day of bidding.

3.51 pm: Wow Wednesday! Sensex finishes at lifetime high of 33,600; World Bank ranking upgrade in play: Indian stock markets closed on record high on Wednesday after India got placed on the 100th spot in the World Bank Ease of Doing Business 2018 rankings followed by a massive surge in the shares of India’s largest telecom company Bharti Airtel.

3.08 pm: Khadim’s India IPO opens this week; all you need to know about Rs 543 crore public issue: The IPO of the Kolkata-based footwear retailer Khadim’s India is slated to open on tomorrow, 2 November for bidding. We take a look at five points about Rs 543 crore public offer.

1.30 pmHow top fund manager sold India’s growth story to Japanese investors with a single slide

While people in India may be aware of the country’s growth prospects and its potential, Nilesh Shah of Kotak AMC says that he explained India’s growth story to Japanese investors using a single Powerpoint slide.

12.53 pm: Dalal Street roars: Sensex adds over 400 points to cross 33,600 for first time; 4 reasons why: Sensex hit a lifetime high on Wednesday led by the optimism flow after India grabbed the 100th spot in the World Bank’s ease of doing business rankings. We take a look at four reasons why Sensex gained over 400 points.

12.05 pmFood ordering app Zomato in talks with delivery provider Swiggy for a potential merger

Gurgaon-based food delivery provider Zomato is in talks with its rival Swiggy for a potential merger.

11.42 am: Airtel hits decade high, gains over 8% after Q2 results show sign of stability despite Jio disruption: Airtel shares hit a 10-year high on Wednesday after India’s largest telecom operator posted better-than-expected numbers for the quarter ended 30 September despite the ongoing pressure from Reliance Jio.

10.15 amNew India Assurance Rs 9,600 crore IPO opens today: Should you subscribe?

The IPO (Initial Public Offering) of state-owned New India Assurance opens for subscription today. We take a look at what top brokerage firms have to say about the issue.

10.10 am: Macquarie, UBS bullish on Dabur India shares after robust volume growth in Q2

New Delhi-based Dabur India may have reported just a 1.3% rise in net profit compared to same quarter in the previous fiscal, however, UBS and Macquarie have increased their target prices on the shares of Dabur India.

10.08 am: Sensex crosses 33,550 for first time as Modi’s reform pushes India to 100th spot in World Bank’s ease of doing business: Sensex and Nifty hit record highs on Wednesday as investors sentiments got a boost after India ranked 100th for the first time in the World Bank’s Ease of Doing Business ranking 2018.

9.33 am: New India Assurance IPO opens today; 5 points to know about Rs 9,600 crore issue before you subscribe: The IPO of New India Assurance is opening for bidding today. Have a look at five key things about Rs 9,600 crore public offer of New India Assurance before you go for subscription.

9.09 am: Stocks of Airtel, Hero MotoCorp, Escorts, SBI, InterGlobe Aviation will be in focus today: Indian stock markets are likely to open higher led by optimism flow after India ranked 100th for the first time in the World Bank’s latest ‘Doing Business’ report.

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