MUMBAI: 9.53 am: Shares of Lanco Infratech hit upper circuit on Thursday on reports that the company will raise about Rs 6,600 crore ($ 1 billion) through the sale of one of its large power projects and listing of its power business in the next two years. The share price of the company surged 9.86 percent to Rs 7.02. Sensex was up 107.74 points at 25,883. Nifty was up 34.35 points at 7,865.
9.42 am: Tata Motors has displayed four new construction and mining related commercial vehicles at the Excon 2015 international trade fair in Bengaluru. The new vehicles showcased at Excon 2015 are the Tata PRIMA 3138.K 32 CuM Coal Tipper, Tata PRIMA LX 2523.K RePTO, Tata PRIMA LX 3128.K 19 CuM Scoop HRT and Tata SAK 1613. Shares of Tata Motors were trading 1.67 percent up at Rs 407.75.
9.17 am: Sensex was up 96.46 points at 25,872. Nifty was up 26.40 points at 7,858. Shares of Dr Reddy’s Laboratories were down 6.26 percent at Rs 3,176.60. The U.S. Food and Drug Administration (U.S. FDA), which had issued a warning letter to Dr Reddy’s Laboratories over quality issues, has said it might withhold approval of the company’s fresh drugs and stop import if no corrective action is taken.
9.15 am: Domestic equity markets opened on a flat to cautious note on Thursday on account of derivatives expiry. Traders are also eyeing the winter session of Parliament, which will begin today. Prime Minister Narendra Modi on Wednesday called for a collective effort to make the two Houses function smoothly and ensure passage of important legislations, including the goods and services tax bill.
The BSE Sensex opened 5.93 points, or 0.02 points, down at 25,769.81, while NSE Nifty opened 5.55 points up at 7,837.15.
However, markets are likely to remain volatile throughout the day on account of derivatives expiry. Also, the Winter Session of the Parliament that will start from November 26 (Thursday) is expected to be a stormy one.
Ambareesh Baliga, independent market expert said, “We could see a continuous logjam, unless the BJP takes an accommodative stance. The important bills going thorough is a pipe dream but the silver lining for the markets is the expectation levels are low. So any positive developments will be welcomed with a rally.”
Asian shares advanced in early trade on Thursday, while growing bets the European Central Bank was gearing up to deliver further stimulus steps kept the euro under pressure. Hang Seng, Nikkei and Shanghai were up 0.93 percent, 0.56 per cent and 0.05 percent, respectively.
The U.S. markets made a flat closing in last session, despite some good economic data, as the traders remained on sidelines ahead of the Thanksgiving holiday. The Asian markets have made mostly a positive start with some indices rallying, led by surge in the industrial metal stocks and with recovery in global oil prices.
Back home, markets ended in the red on Tuesday as the benchmark BSE Sensex slipped by about 44 points to end at 25,775.74 on offloading of positions by participants amid a mixed trend in Asia and a lower opening in Europe. Domestic equity markets were closed on Wednesday on account of ‘Guru Nanak Jayanthi’.
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