Live: Sensex up 30 points, Nifty below 8,750; Banking stocks fall


BSE Sensex gains 30.88 points, or 0.11%, to 28,325.16, while the Nifty rises 15.35 points, or 0.18%, to 8,738.40
Stocks got back on their feet after two sessions of losses in early trade on Tuesday as the Sensex recovered by over 138 points driven by a fresh round of buying amid a firming trend in other Asian markets. The benchmark, which had surrendered 478.85 points in the previous two sessions, was trading higher by 138.46 points, or 0.48% at 28,432.74 with all the sectoral indices led by realty, consumer durables and healthcare supporting the recovery, rising by up to 0.92%.

The 50-share NSE Nifty was quoting higher by 45.45 points, or 0.52%, at 8,768.50. From the Sensex pack, Power Grid, Adani Ports, TCS, Tata Steel, Tata Motors, Hero MotoCorp, Bajaj Auto, Sun Pharma, RIL, Infosys and Asian Paints stayed in the spotlight, rising by up to 1.03%.

Brokers said sentiment turned better after investors followed gains in Asia and shrugged off overnight losses on Wall Street ahead of the first debate in the tightening US presidential campaign.

Here are the updates:

1:30pm: BSE Sensex gains 30.88 points, or 0.11%, to 28,325.16, while the Nifty rises 15.35 points, or 0.18%, to 8,738.40.

1:20pm: MRO TEK Ltd stock hit a high of Rs.83.25 a share—a level last seen on 21 January 2008 and gained 10%. It has hit an upper circuit for the third consecutive sessions. The stock is gaining from last 12 out of 14 trading sessions.

1:10pm: Mukta Arts hits 20% upper circuit to Rs.102.15 after the company said its board will meet on 29 September to consider transferring its entire business of cinema division to its wholly-owned subsidiary Mukta A2 Cinemas.

1:00pm: Coal India rises 0.7% to Rs.335.10. The company said in a notice to BSE that its share buyback offer will open on 3 October to 18 October. Record date for determining shareholders eligible for buyback set at Sept. 9; last date of settlement of bids on stock exchange to be 27 October.

12:15pm: BSE Sensex gains 95.97 points, or 0.34%, to 28,390.25, while the Nifty rises 32.05 points, or 0.37%, to 8,755.10.

11:55am: Banking stocks are trading lower. Indian Bank falls 1.3%, Oriental Bank of Commerce 1.2%, Union Bank of India 1.1%, ICICI Bank 1%, Karnataka Bank 0.9%, Bank of Baroda 0.9%, Bank of India 0.9%, Syndicate Bank 0.7%, Jammu & Kashmir 0.7%, IDBI Bank 0.6%, Punjab National Bank 0.6%, Allahabad Bank 0.6%.

11:40am: Healthcare stocks are trading higher. Orchid Pharma up 12%, Vivimed Lab 8%, Syncom Formulations India rose 7%, SMS Pharma 6%, Narayana Hrudayalaya Ltd rose 5%, Kopran Ltd 3.3%, Aurobindo Pharma 2.5%, Cadila Healthcare 2.8%, Marksans Pharma 2.5%, Ajanta Pharma 2%, Claris Life Science 1.9%, Sanofi India 1.9%, Dishman Pharma 2%, Sun Pharmaceuticals Industries 1.3%, Cipla 0.8%, Dr Reddy’s Laboratories 0.8%..

11:25am: Zee Entertainment Enterprises Ltd rises 2% to Rs.540.55. According to Business Standard, Zee group is likely to buy a majority stake in Hyderabad-based media firm Associated Broadcasting Company Private Limited (ABCL), which owns a bouquet of regional news channels under the brand name TV 9.

11:15am: Telecom stocks are trading lower. Bharti Airtel Ltd falls 1.3%, Idea Cellular Ltd falls 1.1%.

11:05am: IT stocks are trading higher. Tata Consultancy Services Ltd rises 1.4%, Tech Mahindra 1%, NIIT Ltd 1%, Infosys Ltd 1%, Hexaware Technologies Ltd 0.7%, Aptech Ltd 2%.

10:50am: BSE Sensex gains 56.75 points, or 0.20%, to 28,351.03, while the Nifty rises 23.50 points, or 0.27%, to 8,746.55.

10:40am: Narayana Hrudayalaya Ltd rises 9% to Rs.370 after huge block deal. Around 17.5 lakh shares of the company changed hands in a block deals. However, buyers and sellers were not known, according to Bloomberg report.

10:30am: Multi Commodity Exchange Of India Ltd hit 18-month high. It rose 9.7% to Rs.1,181.35—a level last seen on 19 March 2015. The stock gained 27% in last 10 days. So far this year it gained 24.7%

10:20am: Bank of Maharashtra rises 1% to Rs.31.25. The government on Monday removed Sushil Muhnot as chairman and managing director (MD) of Bank of Maharashtra, four days ahead of his scheduled retirement.

10:10am: Indoco Remedies Ltd falls 6% to Rs.323.25 after news report said that the US food and drug regulator issued form 483 with six observations for Goa plant II & III. Six observations cover quality & production systems, facilities and Six observations cover equipment & post-market reporting.

10:00am: IRB Infrastructure Developers Ltd rises 2.2% to Rs 262.15 after the company got letter of intent from NHAI for Udaipur to Gujarat border 6-laning project -Estimated cost of project at Rs 2,100 crore; concession period 21 years.

9:50am: ADAG stocks are trading higher. Reliance Capital Ltd rises 1.3%, Reliance Infrastructure Ltd rises 1%, Reliance Power rises 0.4%, Reliance Defence and Engineering Ltd 0.1%, Reliance Communications Ltd rises 0.3%.

9:40am: The 30-share S&P BSE Sensex is currently trading higher by 88.65 points, or 0.31%, to 28,382.93, while the Nifty 50 of the National Stock Exchange (NSE) rises 32.40 points, or 0.37%, to 8,755.45.

9:35am: Mukta Arts Ltd rises 10% to Rs.93.60 after the company said its board will meet on 29 September to consider transferring its entire business of cinema division to its wholly-owned subsidiary Mukta A2 Cinemas.

9:30am: The rupee on Tuesday strengthens for the fourth consecutive session and hit a fresh over-two-week high against the US dollar at 66.52 per dollar, up 0.18% from its previous close of 66.61, tracking the gains in its Asian peers.

9:25am: The 10-year bond yield fall for the fifth consecutive session. The 10-year bond yield stood at 6.781% compared to its Monday’s close of 6.789%.

9:20am: The dollar strengthens to ¥100.79 from Monday’s ¥100.37. The euro is unchanged at $1.1246.

9:15am: Benchmark US crude sheds 16 cents to $45.77 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude declines 20 cents to $47.73 in London. It gained $1.45 the previous session to $47.93.

9:10am: Hong Kong’s Hang Seng index advances 0.4% to 23,409.97 and Tokyo’s Nikkei 225 sheds 0.3% to 16,490.41. Sydney’s S&P-ASX 200 adds 0.4% to 5,497.40 and the Shanghai Composite Index is unchanged at 2,981.10. South Korea’s Kospi gains 0.9% to 2,017.94 and New Zealand also advances. Southeast Asian markets decline.

9:00am: Asian stock markets are mixed on Tuesday as traders followed the US presidential debate between candidates Hillary Clinton and Donald Trump.

8:50am: The Dow Jones industrial average lost 166.62 points, or 0.9%, to 18,094.83. The Standard & Poor’s 500 index fell 18.59 points, or 0.9%, to 2,146.10. The Nasdaq composite dropped 48.26 points, or 0.9%, to 5,257.49. Stocks are coming off two weeks of solid gains, and the Nasdaq set all-time highs twice last week.

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