Key benchmark indices opened the first trading session of the new year on a subdued note. At 9:17 IST, the barometer index, the S&P BSE Sensex rose 10.78 points or 0.03% at 34,067.61. The Nifty 50 index fell 8.50 points or 0.08% at 10,522.20.
The S&P BSE Mid-Cap index advanced 0.32%. The S&P BSE Small-Cap index rose 0.42%. Both these indices outperformed the Sensex.
Overseas, Asian markets remain closed due to New Year Holiday. Growth in China's manufacturing sector slowed slightly in December. The official Purchasing Managers' Index (PMI) released on Sunday dipped to 51.6 in December, down from 51.8 in November. The 50-point level divides growth from contraction on a monthly basis. The official non-manufacturing Purchasing Managers' Index (PMI) rose to a three-month high of 55 from 54.8 in November.
US stocks closed lower on Friday, 29 December 2017 as selling pressure accelerated towards the close of the session. US markets remain closed today, 1 January 2018 on account of New Year's Day.
Closer home, the breadth, indicating the overall health of the market, was strong. On the BSE, 506 shares advanced and 155 shares declined. A total of 49 shares were unchanged.
Infosys fell 0.1% at Rs 1,038.30. The company announced that it has on 28 December 2017, signed an agreement for divestment of its entire investment in ANSR Consulting Holdings, Inc., for a total consideration of $1 million. The announcement was made after market hours on Friday, 29 December 2017.
NTPC was down 0.42% at Rs 176.45. The company said that unit 2 of 800 megawatts (MW) of Kudgi super thermal project, stage-I (3 X 800 MW) will be declared on commercial operation with effect from 1 January 2018. With this, the commercial capacity of Kudgi super thermal power project, NTPC and NTPC group becomes 1,600 MW, 44,492 MW and 51,383 MW respectively. The announcement was made after market hours on Friday, 29 December 2017.
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Separately, NTPC said its board of directors in its meeting held on 29 December 2017 has designated Sudhir Arya, Executive Director (Finance) as Chief Financial Officer of the company with immediate effect. The terms & conditions of appointment including remuneration of Sudhir Arya, shall be as per the existing policy of the company. The announcement was made after market hours on Friday, 29 December 2017.
Axis Bank was up 0.07% at Rs 562.80. The bank in a clarification to the media news titled "Axis Bank seeks bids for controlling stake in GMR Chhattisgarh" said that the bank denies the news and added that it is factually incorrect. The announcement was made after market hours on Friday, 29 December 2017.
GAIL (India) rose 1.07% at Rs 502.50 after the company said it has placed orders for another 400-km of pipeline of the Pradhan Mantri Urja Ganga natural gas pipeline project that will take the fuel to eastern India. Line pipe orders for about 400-km for pipeline from Dobhi in Bihar to Durgapur in West Bengal has been placed, the company said in a statement. With these awards, pipe supply orders for 2,100 km of the Jagdishpur-Haldia & Bokaro-Dhamra Natural Gas Pipeline (JHBDPL) project have been placed. Also, 1,700 km of line laying orders have been placed.
The 2,655 km long JHBDPL project, also known as the 'Pradhan Mantri Urja Ganga' project passes through Uttar Pradesh, Bihar, Jharkhand, West Bengal and Odisha. GAIL till date has committed over Rs 6500 crore for the project, the statement said. The announcement was made after market hours on Friday, 29 December 2017.
Oil India advanced 0.75% at Rs 375 after the company said it has made two hydrocarbon discoveries in the Dumduma Petroleum Mining Lease (PML) in the upper Assam basin during the second and third quarter FY 2018. The announcement was made after market hours on Friday, 29 December 2017.
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