Key benchmark indices were trading higher in early trade on positive global cues. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 207.81 points or 0.73% at 28,620.70. The gains for the Sensex were higher in percentage terms than those for the Nifty 50 index. The Nifty was up 54.10 points or 0.62% at 8,796.65.
The broad market depicted strength. There were more than five gainers against every loser on BSE. 1,103 shares rose and 195 shares fell. A total of 43 shares were unchanged. The BSE Mid-Cap index was currently up 0.91%. The BSE Small-Cap index was currently up 0.88%. Both these indices outperformed the Sensex.
In overseas stock markets, Asian stocks rose after weak US data reduced the chance of an interest rate increase by the Federal Reserve at next week's meeting. Markets in China, Taiwan and South Korea are closed today, 16 September 2016, for public holidays.
US stocks finished higher yesterday, 15 September 2016, as a rally in the tech sector helped to lift the broader market following a deluge of macroeconomic reports. Sales at US retailers fell in August for the first time in five months as traffic dropped off for most stores. Retail sales declined a seasonally adjusted 0.3%.
Further, weekly jobless claims ticked up slightly to 260,000 but the level of layoffs continues to be the lowest since the 1970s. Meanwhile, US wholesale prices were flat in August, mostly because of sharp declines in the cost of food and gasoline.
Industrial production in US contracted in August after a promising expansion in the previous two months, the Federal Reserve said yesterday, 15 September 2016.
More From This Section
Shares of public sector oil marketing companies (PSU OMCs) rose after a hike in petrol prices. BPCL (up 0.91%), HPCL (up 0.78%) and Indian Oil Corporation (up 0.45%), edged higher.
PSU OMCs hiked petrol price by 58 paise a litre and cut diesel price by 31 paise per litre in Delhi effective 16 September 2016 (including state levies), with corresponding price revision in other states. Petrol will cost Rs 64.05 a litre as against Rs 63.47 in Delhi. Similarly, diesel will cost Rs 52.63 a litre as compared to Rs 52.94 a litre.
Punjab National Bank (PNB) was up 2.05%. The bank said that consequent upon receipt of capital funds to the tune of Rs 2112 crore from the Government of India on 14 September 2016, the bank has issued and allotted 16.43 crore equity shares at Rs 128.49 per equity share on preferential basis to Government of India. The announcement was made after market hours yesterday, 15 September 2016.
Union Bank of India was up 1.81%. The bank said that on 15 September 2016 it issued 10,000 Non-Convertible, Unsecured Subordinated Basel III Compliant Perpetual Debt Instruments eligible for inclusion in Additional Tier 1 Capital. The bond is issued for face value of Rs 10 lakh each at par aggregating to Rs 1000 crore on private placement basis bearing 9.50% per annum coupon payable annually. The AT1 Bonds are rated 'IND AA' by India Ratings and Research and 'CARE AA' by Credit Analysis & Research. The announcement was made after market hours yesterday, 15 September 2016.
Powered by Capital Market - Live News