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Markets open in green, Sensex up 200 points; Nifty touches 10,500 mark
Posted on 12th February 2018
Key indices on Monday opened in green. The benchmark BSE Sensex opened 200 points higher to open at 34203.34 while the NSE Nifty gained over 70 points to trade above 10,500.

The BSE market breadth was bullish as 1,028 stocks advanced as against 224 declines.

At 10:00 AM, Sensex was up by 0.34% to trade at 34,120.03 points while Nifty was at 10,495.05.

Meanwhile, the rupee recovered by 15 paise to 64.25 against the dollar in opening trade today on fresh selling of the US currency by exporters and banks amid a higher opening in domestic equity markets.

Forex dealers said the dollar's losses against major global currencies overseas after last week's rally supported the rupee.

Asian share markets found a semblance of calm on Monday as S&P futures extended their bounce, though bond investors were still fretting about the risks from looming U.S. inflation data.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.8 per cent, having suffered a 7.3 per cent drubbing last week.

Both South Korea and China gained 0.8 percent, while Japan's Nikkei was closed for a holiday.

E-Mini futures for the S&P 500 rose 0.5 per cent, adding to a late bounce on Friday. Yet a relatively sharp 12 tick drop in Treasury bond futures suggested it was too early to sound an all-clear on volatility.

"A massive buildup in market leverage has been partially unwound in the blink of an eye and morphed into something far more broad-based," said Chris Weston, chief market strategist at broker IG.

"One could argue that it is the U.S. bond market that is the driving force, and will remain so through this coming week."Particularly challenging will be U.S. consumer price data on Wednesday given it was fears of faster inflation, and thus more aggressive rate rises, that triggered the global rout in the first place.

Median forecasts are for consumer price inflation to slow a little to 1.9 per cent in January, mainly due to the base effect of a high reading in January 2017, while the core measure is seen ticking down to 1.7 per cent.

Related Companies: Bombay Stock Exchange - BSE   National Stock Exchange of India Ltd (NSE)    

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LIC completes the acquisition of 51% controlling stake in IDBI Bank
Posted on 21st January 2019
IDBI Bank Monday said insurance behemoth LIC has completed acquisition of 51 per cent controlling stake in the bank, making it the lender's majority shareholder.

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Sebi interpretation does not permit smaller L&T buyback
Posted on 21st January 2019
Shares of Larsen & Toubro Ltd opened over 3% lower on Monday after market regulator Securities Exchange Board of India denied the company permission for its first ever share buyback plan. However, the scrip pared all the losses and was trading 0.4% higher.

The stock had opened at ₹1,275 a share, or 3.3% lower than its Friday close. At 9.56 am, L&T was trading at ₹1,324 on the BSE, up 0.44% from its previous close. The Sensex rose 0.7% to 36,652.26 points.


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