Key indices opened marginally lower on selective selling. At 9:20 IST, the barometer index, the S&P BSE Sensex, was down 12.79 points or 0.03% at 41,448.47. The Nifty 50 index was down 5.20 points or 0.04% at 12,209.35.
The S&P BSE Mid-Cap index was up 0.09%. The S&P BSE Small-Cap index was up 0.07%. Both these indices outperformed the BSE Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 523 shares rose and 292 shares fell. A total of 62 shares were unchanged.
Among stocks, HCL Technologies rose 0.17%. HCL Technologies announced the opening of a Global Delivery Center (GDC) in Moncton, New Brunswick, Canada. The GDC will focus on technology areas in application development, support, testing, and servicing global clients. HCL will draw on its 10-year track record of success in Canada to assist tech companies as they continue to grow in the digital age.
Piramal Enterprises fell 0.15. Piramal Enterprises said meeting of board of directors will be held on 28 December, 2019, to consider and approve the issue of secured nonconvertible debentures on private placement basis amounting up to Rs 2,750 crore. It also informed that its right issue will open on 7 January 2020 and closes on 21 January 2020.
Bharti Infratel fell 1.10%. Bharti Infratel said the Government approvals for amalgamation between Indus Towers and Bharti Infratel have not been received, and consequently, conditions precedent could not be completed within the extended timeline i.e. 24 December 2019. The board of directors have extended the long stop date till 24 February 2020. Completion of merger is contingent upon receipt of requisite regulatory approvals.
Yes Bank rose 0.29%. Yes Bank said Brickwork Ratings downgraded the ratings of its Lower Tier II Bonds, from BWR AA- to BWR A, and of Upper Tier II Bonds, Hybrid Tier I Bonds and Innovative Perpetual Debt Instruments from BWR A+ to BWR A-. The outlook will continue as negative considering the risk of continuing weakness in asset quality and to monitor the capital raising plans of the bank to provide cushion to absorb any increase in risk weighted assets and assist credit growth.
More From This Section
Bharti Airtel fell 0.71%. Bharti Airtel said its subsidiary Airtel Africa pIc announced the price for the initial public offering (IPO). The price for the IPO has been set at MK 12.69 (USD 0.021) per Ordinary Share. The Subsidiary expects to raise gross proceeds of approximately up to MK 27.92 billion (USD 37.5 million).
Overseas, most Asian markets were trading higher as investors remained optimistic amid easing worries about US-China trade tensions and on hopes of a global economic pickup next year. Some of the markets in the Asian region continued to remain closed for holidays.
In US, stocks ended nearly flat on Tuesday in a shortened trading session before closing for Christmas Day.
Investors have been encouraged by plans for an interim US-Chinese trade deal despite having seen few details.
US markets will reopen on Thursday.
Powered by Capital Market - Live News