Key benchmark indices edged lower in early trade. At 9:15 IST, the barometer index, the S&P BSE Sensex lost 14.47 points or 0.04% at 32,619.17. The Nifty 50 index fell 3.20 points or 0.03% at 10,227.65.
The S&P BSE Mid-Cap index rose 0.04%. The S&P BSE Small-Cap index advanced 0.14%. Both the indices outperformed the Sensex.
The breadth, indicating the overall health of the market, was positive. On the BSE, 569 shares rose and 439 shares declined. A total of 39 shares were unchanged.
Yes Bank rose 0.38% at Rs 368.9 after the bank announced that ICRA has assigned a rating of ICRA AA (hyb) with positive outlook for the bank's cumulative amount of Rs 7500 crore. The ratings are for Basel III compliant Tier I bonds for an amount of Rs 5000 crore on 11 October 2017 and additional ratings for Rs 2500 crore on 16 October 2017 for the purpose of issue of perpetual subordinated unsecured non-convertible Basel III compliant additional Tier I bonds in the nature of debentures aggregating to Rs 3000 crore, with a green shoe option to retain oversubscription to the extent of an additional Rs 3000 crore. The announcement was made after market hours yesterday, 16 October 2017.
Bharti Airtel advanced 1.31% at Rs 458.95 after the company announced the launch of its latest digital innovation - the Online Store that will offer a range of premium smartphones with affordable down payments, instant credit verification and financing, and bundled monthly plans. The announcement was made after market hours yesterday, 16 October 2017.
TCS was down 0.01% at Rs 2,584.80. The company announced that it has launched Connected Clinical Trials (CCT), an innovative software as a service (SaaS) platform that enables pharmaceutical companies to significantly transform patient engagement in clinical trials and improve the efficiency and accountability of the clinical supply process. The announcement was made after market hours yesterday, 16 October 2017.
Overseas, Asian stocks edged higher tracking record closing on the Wall Street overnight. US stocks hit record highs yesterday, 16 October 2017 as Wall Street bets on another strong earnings season.
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Among global news, reports suggested that North Korea's deputy UN ambassador warned yesterday, 16 October 2017 that the situation on the Korean Peninsula has reached the touch-and-go point and a nuclear war may break out any moment.
At the International Monetary Fund's (IMF) annual meeting, deputy managing director of the fund Tao Zhang was quoted as saying that China and emerging markets have to stay vigilant to possible risks. Emerging markets have major development needs, but they need to pay attention to how to better use their money, Zhang reportedly said.
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