Mumbai: The BSE Sensex opened lower on Monday against the previous session’s closing. The broader NSE’s Nifty, too, fell in the morning hours. The Indian rupee opened little changed against the US dollar. The government will issue Index of Industrial Production (IIP) and Consumer Price Index-based inflation data for August and September, respectively, later in the day.
“Minutes from the Federal Reserve’s last meeting showed that one more interest rate increase in the US this year was ‘likely to be warranted’ given that the economic outlook remained ‘unchanged’ in the medium term, a summary showed. Policymakers, however, remained concerned about inflation” CNBC reported. Here are the latest updates from the market:
■ 9.25am: BSE Sensex opened little changed at 31,839.14, up 5.15 points, or 0.02%, while the Nifty 50 edged up 9.65 points, or 0.10%, to 9,994.45.
■ 9.23am: Sun Pharmaceuticals Industries Ltd added 3% to Rs541.85 after the company said in a notice to BSE that the US Food and Drug Administration (FDA) has cleared its manufacturing facility at Dadra, which was issued a Form-483 by the regulator earlier this year due to violation of good manufacturing practices (GMP).
■ 9.20am: Tata Consultancy Services Ltd rose 0.7% to Rs2516.70 ahead of its September quarter earnings due later on Thursday. According to 24 Bloomberg analysts, the company may post net profit of Rs6,283.50 crore while net sales will be at Rs3,0501.60 crore.
■ 9.17am: Reliance Industries Ltd gained 1% to Rs848.50 ahead of its September quarter earnings on Friday. Stand-alone quarterly net profit is likely to increase to Rs8,687.5 crore on revenue of Rs66,088 crore, according to a Bloomberg poll of seven analysts.
■ 9.15am: The rupee opened at 65.15 a dollar. At 9.15am, the home currency was trading at 65.13 against the dollar, up 0.01% from its Wednesday’s close of 65.14.
■ 9.13am: The 10-year bond yield was at 6.732%, compared to its previous close of 6.741%. Bond yields and prices move in opposite directions.
■ 9.10am: Asian currencies were trading higher after the Federal Reserve released a summary from its previous meeting that showed it believes the economy is strong enough to withstand another rate hike in December. Thai baht was up 0.14%, Philippines peso 0.11%, Indonesian rupiah 0.09%, Japanese yen 0.09%, Taiwan dollar 0.08%, Malaysian ringgit 0.04%. However, China Offshore was down 0.19%, China renminbi 0.06%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 92.875, down 0.15% from its previous close of 93.015.
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