Key benchmark indices were trading higher in early trade, tracking positive cues from the Asian market and overnight gains in the US market. At 9:21 IST, the barometer index, the S&P BSE Sensex, was up 155.18 points or 0.58% at 26,788.31. The Nifty 50 index was currently up 40.45 points or 0.49% at 8,230.95.
Among secondary barometers,the BSE Mid-Cap index was currently up 0.80%. The BSE Small-Cap index was currently up 0.66%. Both these indices outperformed the Sensex.
The broad market depicted strength. There were more than five gainers against every loser on BSE. 985 shares rose and 194 shares fell. A total of 28 shares were unchanged.
Overseas, most Asian stocks edged higher today, 5 January 2017, underpinned by a firm closing at the Wall Street. US stocks closed just shy of record levels yesterday, 4 January 2017, following the release of the Federal Reserve's policy minutes from its December meeting and a strong showing in auto sales.
The Fed said interest-rate hikes may come at a faster-than-expected pace, according to minutes from the Federal Open Market Committee's 13-14 December 2016 meeting.
Sun Pharmaceutical Industries was up 1.02%. The company announced successful phase 3 confirmatory clinical trial results for Seciera (cyclosporine A, 0.09% ophthalmic solution), for the treatment of dry eye disease. Seciera is a patented, novel, proprietary nanomicellar formulation of cyclosporine A 0.09%. It is a clear, preservative-free, aqueous solution. Seciera is being developed by Ocular Technologies, a company recently acquired by Sun Pharma. Following this acquisition, Sun Pharma owns exclusive, worldwide rights to Secier and is developing it to commercialize for global markets including US, Europe, and Japan, as well as several emerging markets. The announcement was made after market hours yesterday, 4 January 2017.
Canara Bank was up 1.25%. The bank announced fixation of the marginal cost of funds based lending rate for all rupee loans and credit limits renewed. The MCLR for overnight loans was fixed at 8.2%. The rate for one month was fixed at 8.25% and for three months was fixed at 8.3%. The MCLR on 6-month loans is 8.4% and for one-year loan is 8.45%, the bank said. The announcement was made after market hours yesterday, 4 January 2017.
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Petron Engineering Construction was up 7.69 %. The company said that it received letter of intent from Shree Cement, for civil work of plant building and silos and miscellaneous work at their Orissa grinding project at village : Chandrabali, Orissa for contract value of Rs 33 crore (approximately). The announcement was made after market hours yesterday, 4 January 2017.
Pratibha Industries was up 1 %. The company announced that a meeting of the board of directors of the company shall be held on 7 January 2017, to consider and approve, the issue and allotment of shares on preferential basis to the lenders of the company, who have not subscribed the shares till 4 January 2017 under strategic debt restructuring (SDR) scheme. The announcement was made before market hours today, 5 January 2017.
Quick Heal Technologies was up 2.08%. The company announced that company has capitalized for incorporation of wholly owned subsidiary namely Seqrite Technologies DMCC, as a free zone company under the rules & regulations of DMCA. The announcement was made after market hours yesterday, 4 January 2017.
Dena Bank was up 1.95%. The bank announced that a meeting of the board of directors of the bank will be held on 7 January 2017 to consider capital planning for FY 2016-17 i.e. raising of capital through equities and/or bonds. The announcement was made after market hours yesterday, 4 January 2017.
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