Benchmark equities erased opening gains led by FMCG, Media, Financial Services and Metal.
Benchmark indices open mildly higher after the US Federal Reserve maintained its outlook for three hikes in interest rates in 2018 as against
some expectations of four rate hikes. The US central bank raised interest rates by 25 basis points late Wednesday.
The exit polls to the Gujarat assembly election will come in later in the evening after market hours today.
At 10:11 AM, the BSE Sensex was trading at 33,080, up 27 points, while the broader Nifty50 index was trading at 10,201, gained by 11 points.
The BSE Midcap was up 0.21%, while the BSE Smallcap Index was up 0.08 %.
Shares of Tata Comm rose as much as 8.8% after the company said it will transfer surplus land to Hemisphere Properties, which will be listed on
stock exchanges subsequently.
Shares of MEP Infrastructure Developers advanced 2% after the company’s arm received certain milestone payments from National Highways Authority of India.
Shares of Manpasand Beverages rose 7% after the Reserve Bank of India raised the foreign institutional investment threshold in the company to 49%
Prataap Snacks stock zoomed after the company reported 143% jump in its Q2 net profit at Rs12.9cr against Rs5.3cr in the same quarter last fiscal.
Shares of Ruchi Soya were trading 13% down after the company informed bourses that IDBI Bank declared it as a wilful defaulter.
On the economy front, the government will announce inflation data based on wholesale price index (WPI) for November today.
On the sectoral front, Metal, Pharma, IT, Realty and Auto were the top gainers, while Pvt Banking, FMCG, Financial Services and Media Index were
the top losers on the NSE.
Tech Mahindra (+2%), Dr. Reddy’s (+1.5%), Infratel (+1.2%), BPCL (+1.9%) and M&M (+1.15%) were the top gainers on the Nifty50.
TCS (-1.4%), GAIL (-1.1%), IndusInd Bank (-0.57%), Bajaj Finance (-0.53%) and NTPC (-0.51%) were the top losers in today’s trade.
India VIX gained 1.91%.
Out of 1,980 stocks traded on the NSE, 834 advanced, 694 declined and 452 remained unchanged today.
A total of 32 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.
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