Key benchmark indices traded near the flat line in early trade. At 9:18 IST, the barometer index, the S&P BSE Sensex was down 17.76 points or 0.07% at 26,680.06. The Nifty 50 index was currently down 11.60 points or 0.14% at 8,210.20.
The BSE Mid-Cap index was currently up 0.02%. The BSE Small-Cap index was currently up 0.07%. Both these indices outperformed the Sensex.
Overseas, Asian stocks witnessed a mixed trend. US equities closed higher yesterday, 13 December 2016, as investors kept an eye on a key Federal Reserve meeting due today, 14 December 2016, while the Dow Jones industrial average closed in on another milestone. The Fed is expected to raise interest rates for only the second time in a decade amid recent data suggesting the US recovery is gaining traction.
Closer home, the market breadth, indicating the overall health of the market, was positive. On the BSE, 591 shares rose and 486 shares declined. A total of 53 shares were unchanged.
Coal India fell 3.09% after consolidated net profit fell 77.37% to Rs 600.44 crore on 6.77% decline in total income to Rs 17625.09 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 13 December 2016.
Reliance Industries (RIL) was up 0.83% after the company announced that Global Business Innovators launched $1 billion investment fund for the next generation energy technologies. The members of the Breakthrough Energy Coalition (BEC) have committed to invest more than $1 billion in Breakthrough Energy Ventures (BEV), an investor-led fund that will finance emerging energy breakthroughs to deliver affordable and reliable energy with the goal of reducing global greenhouse gas emissions to near-zero. The announcement was made after market hours yesterday, 13 December 2016.
NTPC was off 0.21%. The company announced that it has decided to raise Rs 3925 crore through private placement of secured non-convertible debentures at a coupon of 7.37% per annum with a door to door maturity of 15 years on 14 December 2016. The proceeds will be utilized to finance capital expenditure/refinancing the debt requirement in on-going projects and other general corporate requirements. The announcement was made after market hours yesterday, 13 December 2016.
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Power Grid Corporation of India (PGCIL) was down 0.57%. The company announced that POWERGRID Warora Transmission, a wholly owned subsidiary of the company has successfully completed the element - LILO of existing Seoni-Bina 765kV S/C line at Gadarwara STPP and declared the same for commercial operation on 30 November 2016. The announcement was made after market hours yesterday, 13 December 2016.
Wockhardt rose 3.67% at Rs 715.50 after the company announced that UK MHRA has confirmed that the company's manufacturing unit at Kadaiya, Daman complies with the principles and guidelines of Good Manufacturing Practices. In view of this, the approval status of the unit continues. The announcement was made after market hours yesterday, 13 December 2016.
Jindal Steel & Power (JSPL) was up 0.72% after the company announced that Jindal Power, a subsidiary of the company has successfully obtained commercial date of operation (COD) in respect of 4th and last unit of 2,400 megawatts (MW) power plant at Tamnar. The announcement was made after market hours yesterday, 13 December 2016.
On the macro front, data released by the government after market hours yesterday, 13 December 2016 showed that the all-India general CPI inflation dipped to 24-months low of 3.63% in November 2016 compared with 4.2% in October 2016. The corresponding provisional inflation rate for rural area was 4.13% and urban area 3.05% in November 2016 as against 4.78% and 3.54% in October 2016. The core CPI inflation was nearly flat 4.9% in November 2016 from 4.86% in October 2016.
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