Key benchmark indices saw a gap-up opening following positive Asian stocks, with the barometer index, the S&P BSE Sensex regaining the psychological 24,000 mark in opening trade. At 9:28 IST, the barometer index, the S&P BSE Sensex, was up 171.96 points or 0.72% at 24,134.17. The Nifty 50 index was up 65.75 points or 0.9% at 7,342.55.
The broad market depicted strength. There were more than five gainers against every loser on BSE. 1,166 shares gained and 200 shares fell. A total of 51 shares were unchanged. The BSE Mid-Cap index was currently up 0.81%. The BSE Small-Cap index was currently up 0.98%. Both these indices outperformed the Sensex.
In overseas markets, Asian stocks rose tracking overnight gains in US stocks. In Japan, the Nikkei 225 Average was currently up 3.57% on speculation for more easing amid hopes that the Bank of Japan would opt for additional stimulus at its 28-29 January policy meeting. In mainland China, Shanghai Composite was currently off 0.28%. In Hong Kong, the Hang Seng index was up 1.38%. US stocks closed higher yesterday, 21 January 2016 after a hint of more monetary easing by the European Central Bank (ECB) and a rebound in crude oil prices.
In Europe, the ECB President Mario Draghi yesterday, 21 January 2016 signaled that the governing council may provide more stimulus at its next meeting in March, noting that the outlook for inflation had weakened significantly. The ECB left its key interest rates unchanged, even as low energy prices and concerns about China's impact on the global economy threaten to derail the central bank's efforts to bring inflation back to its target. The ECB monetary policy decision hit the market after close of Indian market hours yesterday, 21 January 2016.
Index heavyweight and cigarette major ITC fell 0.26% ahead of its Q3 December 2015 result today, 22 January 2016.
Cairn India rose ahead of its Q3 December 2015 result today, 22 January 2016.
More From This Section
Telecom stocks were mixed. MTNL (up 1.7%), Tata Teleservices (Maharashtra) (up 0.73%) and Reliance Communications (up 0.45%) rose. Bharti Airtel dropped 2.44%.
Idea Cellular dropped 4.53% after consolidated net profit fell 0.37% to Rs 764.21 crore on 10.92% rise in total income to Rs 9040.48 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 21 January 2016. The net profit was dragged down by sharp fall in other income to Rs 30.79 crore in Q3 December 2015 from Rs 132.62 crore in Q3 December 2014. The EBITDA (earnings before interest, taxation, depreciation and amortization) margin improved 0.4% on year-on-year basis at 34.7% in Q3 December 2015.
Sun Pharmaceutical Industries rose 0.62%. Strides Shasun rose 1.39%. With reference to the earlier announcement of 19 September 2015, regarding 'Strides Shasun acquires CNS divisions of erstwhile Ranbaxy,' Sun Pharmaceutical Industries before market hours today, 22 January 2016 informed that the company has on 21 January 2016 received order under the Competition Act, 2002 from the Competition Commission of India (CCI) approving the proposed transaction. With this approval, all necessary regulatory approvals have been obtained, Sun Pharmaceutical Industries said.
It may be recalled that Ranbaxy Laboratories was merged with Sun Pharmaceutical Industries.
Cipla rose 0.13% after announcing that FIL Capital Investments (Mauritius) II Limited has received intimation from the Competition Commission of India (CCI) that the CCI has granted its approval with respect to, inter alia, the proposed investment by FIL Capital Investments (Mauritius) II Limited in Cipla Health, a subsidiary of the company. The investment is still subject to, amongst other conditions precedent, approval from the Foreign Investment Promotion Board (FIPB) and the transfer of company's consumer healthcare business to Cipla Health, Cipla said. The announcement was made after market hours yesterday, 21 January 2016.
Powered by Capital Market - Live News