Key benchmark indices once again bounced back in positive terrain in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was up 38.92 points or 0.15% at 25,858.26. The Nifty 50 index was up 9.10 points or 0.12% at 7,858.35.
The market breadth indicating the overall health of the market was positive. On BSE, 1,445 shares rose and 1,004 shares fell. A total of 195 shares were unchanged. The BSE Mid-Cap index was up 0.30%. The BSE Small-Cap index was up 0.42%. Both these indices outperformed the Sensex.
In overseas markets, most Asian stocks were trading higher. US markets closed marginally lower yesterday, 23 November 2015, as Pfizer's plan to buy Allergan plc in a $160 billion deal quickly drew criticism from politicians as a tax dodge.
TCS was down 0.28%. TCS announced a strategic partnership agreement with Gfi Informatique, a leading vendor in value-added IT services and software, to accelerate smart cities programs in France. The partnership will meet the requirements of digital initiatives in public transportation, water, and energy and accelerate the adoption of digital technologies in France's fast-growing and innovative smart cities market. Gfi Informatique and Tata Consultancy Services will offer the Intelligent Urban Exchange (IUX) advanced analytics solution developed by the TCS Digital Software & Solutions (DS&S) Group. The TCS IUX software solution leverages real-time and historical data to close the loop between citizen and city needs and the supply of services, such as transportation, water and energy.
The contract is a culmination of DS&S Group's knowledge of the global smart city market a $1.6 trillion dollar opportunity by 2020 and Gfi's trusted relationships with local public sector organizations to provide system integration and localization in France. Gfi will use IUX analytics software to support digital initiatives that enhance public services for citizens, make efficient use of resources and improve the environment to help boost France's leadership in intelligent city programs, TCS said in a statement. TCS made the announcement during trading hours today, 24 November 2015.
Reliance Capital was up 2.39%. The company announced during trading hours today, 24 November 2015, that Japan's Nippon Life Insurance (NLI) signed definitive agreements to increase its stake in Reliance Life Insurance (RLIC), a part of Reliance Capital, from the existing 26% to 49%. The Japanese company will be investing an aggregate value of Rs 2265 crore to acquire an additional 23% stake in Reliance Life Insurance to reach a 49% stake. The transaction pegs Reliance Life Insurance's valuation at approx. Rs 10000 crore, amongst the highest valuations for any Life Insurance company in the country, the company said.
FMCG stocks were mixed. Hindustan Unilever (up 1.99%), Tata Global Beverages (up 1.43%), Marico (up 1.27%), Dabur India (up 0.8%), Godrej Consumer Products (up 0.62%), Procter & Gamble Hygiene & Health Care (up 0.46%) and Jyothy Laboratories (up 0.05%), edged higher. Bajaj Corp (down 0.47%), Colgate Palmolive (India) (down 0.67%), Nestle India (down 0.97%), GlaxoSmithKline Consumer Healthcare (down 1.03%) and Britannia Industries (down 1.77%), edged lower.
Metal shares were mixed. Jindal Steel & Power (up 3.06%), Steel Authority of India (up 0.45%), Vedanta (up 0.33%), JSW Steel (up 0.27%) and NMDC (up 0.11%), edged higher. National Aluminium Company (down 0.13%), Tata Steel (down 0.22%), Hindalco Industries (down 0.34%), Hindustan Zinc (down 0.42%), Hindustan Copper (down 0.64%) and Bhushan Steel (down 1.38%), edged lower.
Powered by Capital Market - Live News
