Key indices opened higher on select buying. At 9:19 IST, the barometer index, the S&P BSE Sensex, was up 53.40 points or 0.13% at 41,727.32. The Nifty 50 index was up 8.27 points or 0.07% at 12,256.60.
The S&P BSE Mid-Cap index was up 0.09%. The S&P BSE Small-Cap index was up 0.26%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 506 shares rose and 260 shares fell. A total of 35 shares were unchanged.
Among stocks, NMDC rose 0.24%. NMDC said the Ministry of Coal has allocated two coal blocks to NMDC, the Rohne and Tokisud North for commercial mining. Both these blocks are located at Hazaribagh District of Jharkhand. The Rohne coal block has extractable reserves of 191 million tonnes and planned production capacity of 8 million tonnes per annum. The Tokisud North coal block has extractable reserves of about 52 million tonnes of thermal coal and planned production capacity of 2.32 million tonnes per annum.
Tata Chemicals rose 0.69%. Tata Chemicals said the company, through its wholly-owned subsidiary, Valley Holdings, Inc., has acquired the remaining 25% partnership interest from The Andover Group, Inc. in Tata Chemicals (Soda Ash) Partners Holdings. With this acquisition, the company has increased its ownership in Tata Chemicals (Soda Ash) Partners, the soda ash producing operating entity, from 75% to 100%. For the year ending March 2019 TCSAP had a turnover of $ 465.5 million and an EBITDA of $ 100.7 million.
CRISIL was up 0.81%. CRISIL said its board of directors has approved acquisition of 100% of the equity share capital of Greenwich Associates LLC and its six subsidiaries, at a consideration of $ 40 million. The acquisition will be done through CRISIL Limited's 100% subsidiary, CRISIL Irevna US LLC. Greenwich Associates LLC is a provider of data, analytics and qualitative insights to the global financial services industry. The acquisition is subject to execution of binding agreements and regulatory approvals as applicable.
Bajaj Finance rose 0.19%. Bajaj Finance said that it has invoked shares of Karvy Data Management Services Ltd (KDMSL), which were pledged by Karvy Stock Broking Ltd to raise funds from the lender. It invoked 24 lakh pledged shares of KDMSL representing 10% equity stake in the company.
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Titan Company rose 1.15%. Titan Company said Titan Global Retail LLC, Dubai, has been incorporated as a subsidiary company of Titan Holdings International FZCO, Dubai, which in turn is a wholly owned subsidiary of the Company. Titan Global will be mainly engaged in carrying out business activities and retail trade for carrying out business activities, in the industry in which Titan Company operates.
Lemon Tree Hotels went up 2.91%. said it opened its first international hotel in Dubai under the Company's brand Lemon Tree Hotel. The hotel, owned by Al Waleed Real Estate LLC, is located on Al Wasl Road, less than a kilometre from Sheikh Zayed Road and Jumeirah Open Beach, and is the first branded midscale hotel in the area. The hotel features 114 well-appointed rooms, complemented by a multi-cuisine restaurant.
Overseas, most Asian markets were trading higher on Friday after Wall Street posted more record highs.
In US, all three benchmark stock indexes scored record highs again on Thursday, unfazed by President Donald Trump's impeachment, while finding ongoing support from the US-China trade deal, the passage of the United States-Mexico-Canada Agreement (USMCA) trade deal to replace North American Free Trade Agreement (NAFTA) by the House, and improving economic data.
The Chinese Ministry of Commerce reportedly said on Thursday that it remains in contact with the US as the text of the deal is drafted. US Treasury Secretary Steven Mnuchin reportedly said the deal will be signed in early January.
Compared to NAFTA, the new treaty aims to help US farmers, ranchers, manufacturers, workers and consumers by opening new markets to American goods and reducing the cost of household staples such as drugs and groceries.
On economic front, new applications for US jobless benefits fell during the week ended 14 December 2019, dipping 18,000 to a seasonally adjusted 234,000 after surging to 252,000, a two-year high, the week before.
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