Live: Sensex gains over 300 points ahead of RBI policy meet; Banking stocks gain – Livemint

India’s benchmark Sensex and Nifty Indices were trading over 1.2% each on Monday after both India and Pakistan agreed to reduce tension along line of control. India and Pakistan national security advisers have agreed to reduce tension along Line of Control, said Pakistan foreign affairs adviser Sartaj Aziz.

Auto stocks led the gains as most of the auto makers reported better then expected sales in the month of September. This was the second consecutive sessions when the Sensex and Nifty were trading higher.

At 11am, India’s benchmark Sensex Index was trading at 28,197.07, up 1.19% or 331.11 points while Nifty Index rose 1.25% or 108.05 points to 8,719.20 points.

Investors are cautious ahead of the bi-monthly Reserve Bank of India’s policy. The monetary policy panel to meet on 3-4 October and decision to be published on website on 4 October at 2.30pm. RBI may leave its repurchase rate unchanged at 6.50% according to 19 of 34 economists in Bloomberg survey; 14 forecast a cut of 25 bps and one a reduction of 50 bps.

Here are the updates:

2:25pm: BSE Sensex gains 332.33 points, or 1.19%, to 28,198.29, while the Nifty rises 111.50 points, or 1.29%, to 8,722.65.

2:15pm: Media stocks are trading higher. Hathway Cables rises 9.2%, TV18 Broadcast rises 5.1%, Network18 Media Investment rises 4%, Zee Entertainment Enterprises Ltd rises 3.4%, Dish TV 2.4%, Sun TV Network 2.2%, Den Network 2%, Jagran Prakashan 1.7%, HT Media 1.1%, DB Corp 1.1%

2:05pm: Brokerage stocks are trading higher after Caisse de dépôt et placement du Québec (CDPQ), one of North America’s largest pension fund managers, on Monday said it will acquire 20% equity stake in Edelweiss Asset Reconstruction Company (EARC), which has around Rs30,000 crores in assets under management. Motilal Oswal Financial Services Ltd rises 2.3%, JM Financial Ltd rises 9%, Geojit BNP Paribas Financial Services rises 4.1%

1:55pm: Reliance Infrastructure Ltd rises 5.3% to Rs580.90. According to BSE press release Dassault Aviation and Reliance Infrastructure promoted Reliance Aerospace announces strategic partnership in aerospace sector.

1:45pm: Hindustan Zinc Ltd rises as much as 10% to hit record high of Rs258.90. The stock gained over 19% in 11 trading sessions. YTD, it gained over 100%.

1:35pm: RBL Bank Ltd rises 1.6% to Rs296.10 after the bank said it acquired 10% stake in Utkarsh Micro Finance Ltd for undisclosed amount.

1:25pm: Banking stocks are trading higher. Jammu & Kashmir Bank rises 7.4%, Indian Bank rises 5.8%, Union Bank of India rises 3.3%, South Indian Bank rises 3%, Indusind Bank 3%, Corporation Bank rises 2.6%, Bank of India 2.4%, Oriental Bank of Commerce 2.2%, Central Bank of India 2%, Federal Bank 2%, Yes Bank 1.8%, State Bank of India 1.5%, Punjab National Bank 1.3%, HDFC Bank 1.2%, Axis Bank 1%.

1:15pm: IT stocks are trading weak. Tata Consultancy Services Ltd falls 0.7%, Infosys Ltd 0.7% while Wipro Ltd falls 0.3%.

1:05pm: BSE Sensex gains 303.78 points, or 1.09%, to 28,170.86, while the Nifty rises 104.65 points, or 1.22%, to 8,713.10.

12:55pm: Multi Commodity Exchange of India Ltd rises 2.4% to Rs.1,381.20 after the Reserve Bank of India (RBI) announced that Foreign Institutional Investors (FIIs) can now invest up to 34% in the company. The stock gained 53% since 12 September while year to date, it gained 50%.

12:45pm: Infibeam Incorporation Ltd rises 1% to Rs.897 after the company said it formed joint venture with Dubai-based KSK Capital to offer e-commerce solutions and digital marketing under its platform. The joint venture will be held in 49:51 ratio between Infibeam and KSK and would cater to 40 countries in Middle-east and Africa.

12:35pm: Metal stocks are trading higher. Hindustan Zinc Ltd rises 10%, NMDC rises 3%, Steel Authority Of India rises 2.6%, Jindal Steel & Power rises 2.4%, Tata Steel Ltd rises 1.9%, Vedanta Ltd rises 1.8%, JSW Steel ltd rises 1.7%, Coal Indai rises 1.4%.

12:25pm: Moil Ltd rises 3.2% to Rs.253.80 after the company has increased prices of various grades of manganese ore for October-December quarter effective from 1 October 2016. The price have been increased by 25% on all Ferro Grades of ore, while prices have been increased by 20% on all grades of SMGR (Mn 30%) and SMGR Low (Mn 25%) on the prevailing prices.

12:15pm: Mahindra & Mahindra Ltd rises 2.6% to Rs.1,442 after the company said its tractor sales rises 69% to 30,562 units while domestic sales rose 70% to 29,035 units.

12:05pm: JSW Steel Ltd rises 2.2% to Rs.1,769.90 after CNBC TV reported that the company wins Rama Rao Paol mine in ongoing Karnataka iron ore auctions.

11:55am: India VIX falls 9% to 15.66.

11:45am: BSE Sensex gains 293.01 points, or 1.05%, to 28,158.97, while the Nifty rises 98.30 points, or 1.14%, to 8,709.45.

11:35am: Edelweiss Financial Services Ltd rises 9% to Rs.123.45. According to ET report Caisse de Dépôt et Placement du Québec has agreed to acquire close to 30% in the asset reconstruction company of Edelweiss Securities for about $250 million in a deal that will value the stressed assets manager at $750 million. A formal announcement is due on Monday.

11:25am: Logistic companies trading are higher after Flipkart Internet Pvt. Ltd and Amazon India both claimed record sales numbers in their respective festival sales events over the weekend in what is turning out to be a fierce battle for supremacy in India’s e-commerce market. Snowman Logistics rises 2.8%, GATI Ltd rises 2.8%, Allcargo Logistics Ltd rises 3.4%, VRL Logistics Ltd 2.5%, Patel Integrated Logistics Ltd 5.6%, Transport Corporation of India Ltd 3.7% and Container Corporation Of India 0.5%.

11:15am: Kalpataru Power Transmission Ltd rises 2.1% to Rs.265.85 huge block deal. Around 16.8 lakh shares of the company changed hands in a block deal. However, details of buyers and sellers of the deal were not available, according to CNBC TV.

11:05am: Indian Bank rises 5.5% to Rs.222.50 after huge block deal. Around 16.2 lakh shares of the company changed hands in a block deal. However, details of buyers and sellers of the deal were not available, according to CNBC TV.

10:55am: Cairn India Ltd rises 1.7% to Rs.203.50 after huge block deal. Around 18.40 lakh shares of the company changed hands in a block deal. However, details of buyers and sellers of the deal were not available, according to CNBC TV.

10:45am: Inox Wind Ltd rises 3.3% to Rs.206.45 after the company said it got order worth Rs.2,000 crore for supply and installation of wind turbine generators of 350 MW in total to several repeat customers.

10:35am: BSE Sensex gains 297.64 points, or 1.07%, to 28,163.60, while the Nifty rises 101.50 points, or 1.18%, to 8,712.65.

10:25am: Tata Motors Ltd rises 1.4% to Rs.542.45 after the company reported an 8% increase in total sales at 48,648 units in September.

10:15am: Eicher Motors Ltd rises 2.2% to Rs.25,458.85 after the company has reported a 30% jump in total sales in September 2016 at 57,842 units, as against 44,491 units in the same month last year

10:05am: Jubilant Life Science Ltd rises 9% to Rs.669.25 after the company said in a notice to BSE that it got USFDA approval for RUBY-FILL- Rubidium 82 Generator and Elution System.

9:55am: State Bank of India rises 1.2% to Rs.253.75 after the government extended the tenure of Arundhati Bhattacharya by one year amid the lender’s consolidation with its associate banks.

9:45am: Liquor stocks trading are lower after the Bihar government on Gandhi Jayanti came out with a new law banning liquor with more harsh provisions like arrest of all adults in the event of recovery of the contraband in their house. United Spirit falls 2.3%, Pioneer Distilleries is down 9%, Globus Spirits 3%, Som Distilleries & Breweries rises 0.5%, Empee Distilleries is down 2.6% and Tilaknagar Industries falls 0.84%.

9:35am: The 30-share S&P BSE Sensex is currently trading higher by 204.42 points, or 0.73%, to 28,070.38, while the Nifty 50 of the National Stock Exchange (NSE) rises 57.45 points, or 0.67%, to 8,668.60.

9:30am: Maruti Suzuki India Ltd rises 3.1% to Rs.5,651.25 after the company said its domestic sales jumped 29.4% to a record 1,37,277 units in September on back of a robust growth across all the segments over the same month a year ago.

9:25am: The rupee on Monday strengthens against the US dollar at 66.53, up 0.12% from its previous close of 66.61, tracking the gains in the local equity markets.

9:20am: The benchmark 10-year government bond yields is trading at 6.81% from Friday’s close of 6.817%.

9:15am: Benchmark US crude oil falls 25 cents to $47.99 a barrel, while brent crude, the international standard, slips 28 cents to $49.91 a barrel in London.

9:10am: The dollar rises to ¥101.45 from ¥101.03 late last week in Asia. The euro rises to $1.124 from $1.118.

9:05am: Japan’s benchmark Nikkei 225 gains 1.2% to 16,640.23 in morning trading. Australia’s S&P/ASX 200 rises 0.8% to 5,481.70. Chinese and South Korean markets are closed.

9:00am: Asian stocks are mostly higher on Monday, with Chinese and South Korean trading closed, as investors weighed the prospects of a further US interest rate hike and a report on business sentiment out of Japan.

8:50am: The Dow Jones industrial average jumped 164.70 points, or 0.9%, to finish the week at 18,308.15. The Standard & Poor’s 500 index rebounded 17.14 points, or 0.8%, to 2,168.27. The Nasdaq composite rose 42.85 points, or 0.8%, to 5,312.

First Published: Mon, Oct 03 2016. 09 36 AM IST


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