 "Energy shares boost markets; RIL up 1.5%, GAIL up 4%")
Benchmark share indices were trading near their day's high in late morning deals after stabilising global crude prices led to buying interest in oil and gas shares.
At 11:35am, the S&P BSE Sensex was up 261 points at 25,852 after hitting an intra-day high of 25,863 and the NIfty50 was up 76 points at 7,862 after touching an intra-day high of 7,865.
Traders will remain cautious in a truncated week. The stock exchanges will be closed for trading on Friday on account of Christmas Day. Further, the winter session of the parliament ends today.
The Indian rupee gained for the sixth straight session against the US dollar and was up 8 paise at 66.24 compared to its previous close tracking gains in the equity markets.
NEW LISTINGS
Dr Lal PathLabs listed at Rs 720, a 31% premium to its issue price of Rs 550 per share on the National Stock Exchange (NSE). The stock was up 2.6% at Rs 739 after hitting a high of Rs 748.
Alkem Laboratories made its debut at Rs 1,380, a 31% premium against its issue price of Rs 1,050 per share, on the National Stock Exchange (NSE). The stock was marginally down at Rs 1,379 after hitting a high of Rs 1,399.
STOCKS IN FOCUS
All sectoral indices on the BSE were trading positive led by BSE Metal index up 1.8% followed by Healthcare, Oil & Gas and Capital Goods indices among others.
Oil and gas shares were among the top gainers as global crude oil stabilised after they hit 11-year lows early this week.
Index heavyweight Reliance Industries was up 1.7% contributing the most to the Sensex gains.
ONGC rose 1.6% after the Cabinet Committee on Economic Affairs (CCEA) yesterday, 22 December 2015, has given its approval for investment of Rs 5000 crore by ONGC into the equity share capital of ONGC Videsh (OVL) by conversion of existing loan of equivalent amount into equity.
GAIL was the top Sensex gainer up 4.1%. GAIL India has extended last date of bidding for its $7 billion tender for hiring nine newly built ships for ferrying LNG from the US by over two months to allow Indian shipyards to tie up technology for building the specialised vessels.
Tata Steel was up 3% after its overseas subsidiary Tata Steel UK has signed a letter of intent with Greybull Capital, an investment company, to enter exclusive negotiations for a potential sale of its long products Europe business.
IT and FMCG shares which eased in the previous session were trading with marginal gains. In the FMCG space, ITC and HUL were up 1%-1.7% each.
IT majors which had weakened in the previous on account of sharp hike in US visa fees gained in today's session. Infosys and TCS were up 1%-1.7% each. However, Wipro was trading flat with positive bias.
Sun Pharma extended gains and was up 3% on short-covering. The stock had witnessed sharp decline on Monday after the company said that it has received a warning letter from US Food and Drugs Administration (FDA) for its manufacturing facility located in Halol in Gujarat.
Capital goods shares witnessed renewed buying interest. L&T was up nearly 1% while PSU engineering major BHEL gained nearly 4%.
Other Sensex gainers include, HDFC and HDFC Bank which were up 0.9%-1.1% each.
Among others, Shares of Chambal Fertilisers were up nearly 2% at Rs 60.50 on the Bombay Stock Exchange after the company plans to sell ships to fund its Ammonia-Urea project.
Shares of Orchid Pharma were up 3% at Rs 63.55 on the Bombay Stock Exchange after the company said that it UK-based subsidiary has secured long-term funds worth US $800 million.
At 11:35am, the S&P BSE Sensex was up 261 points at 25,852 after hitting an intra-day high of 25,863 and the NIfty50 was up 76 points at 7,862 after touching an intra-day high of 7,865.
Traders will remain cautious in a truncated week. The stock exchanges will be closed for trading on Friday on account of Christmas Day. Further, the winter session of the parliament ends today.
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India's current account deficit (CAD) narrowed to $8.2 billion (1.6% of gross domestic product) in the September 2015 quarter from $10.9 billion (2.2% of GDP) in the year-ago quarter.
The Indian rupee gained for the sixth straight session against the US dollar and was up 8 paise at 66.24 compared to its previous close tracking gains in the equity markets.
NEW LISTINGS
Dr Lal PathLabs listed at Rs 720, a 31% premium to its issue price of Rs 550 per share on the National Stock Exchange (NSE). The stock was up 2.6% at Rs 739 after hitting a high of Rs 748.
Alkem Laboratories made its debut at Rs 1,380, a 31% premium against its issue price of Rs 1,050 per share, on the National Stock Exchange (NSE). The stock was marginally down at Rs 1,379 after hitting a high of Rs 1,399.
STOCKS IN FOCUS
All sectoral indices on the BSE were trading positive led by BSE Metal index up 1.8% followed by Healthcare, Oil & Gas and Capital Goods indices among others.
Oil and gas shares were among the top gainers as global crude oil stabilised after they hit 11-year lows early this week.
Index heavyweight Reliance Industries was up 1.7% contributing the most to the Sensex gains.
ONGC rose 1.6% after the Cabinet Committee on Economic Affairs (CCEA) yesterday, 22 December 2015, has given its approval for investment of Rs 5000 crore by ONGC into the equity share capital of ONGC Videsh (OVL) by conversion of existing loan of equivalent amount into equity.
GAIL was the top Sensex gainer up 4.1%. GAIL India has extended last date of bidding for its $7 billion tender for hiring nine newly built ships for ferrying LNG from the US by over two months to allow Indian shipyards to tie up technology for building the specialised vessels.
Tata Steel was up 3% after its overseas subsidiary Tata Steel UK has signed a letter of intent with Greybull Capital, an investment company, to enter exclusive negotiations for a potential sale of its long products Europe business.
IT and FMCG shares which eased in the previous session were trading with marginal gains. In the FMCG space, ITC and HUL were up 1%-1.7% each.
IT majors which had weakened in the previous on account of sharp hike in US visa fees gained in today's session. Infosys and TCS were up 1%-1.7% each. However, Wipro was trading flat with positive bias.
Sun Pharma extended gains and was up 3% on short-covering. The stock had witnessed sharp decline on Monday after the company said that it has received a warning letter from US Food and Drugs Administration (FDA) for its manufacturing facility located in Halol in Gujarat.
Capital goods shares witnessed renewed buying interest. L&T was up nearly 1% while PSU engineering major BHEL gained nearly 4%.
Other Sensex gainers include, HDFC and HDFC Bank which were up 0.9%-1.1% each.
Among others, Shares of Chambal Fertilisers were up nearly 2% at Rs 60.50 on the Bombay Stock Exchange after the company plans to sell ships to fund its Ammonia-Urea project.
Shares of Orchid Pharma were up 3% at Rs 63.55 on the Bombay Stock Exchange after the company said that it UK-based subsidiary has secured long-term funds worth US $800 million.