Key benchmark indices edged higher in early trade tracking positive sentiment in Asian bourses. At 9:15 IST, the barometer index, the S&P BSE Sensex rose 171.58 points or 0.55% at 31,430.43. The Nifty 50 index advanced 61.40 points or 0.63% at 9,812.30.
The S&P BSE Mid-Cap index rose 0.68%, outperforming the Sensex. The S&P BSE Small-Cap index advanced 0.52%, underperforming the Sensex.
The breadth, indicating the overall health of the market, was strong. On the BSE, 785 shares rose and 237 shares declined. A total of 26 shares were unchanged.
Bajaj Auto was up 0.21% at Rs 2,776.40. Promoter Rahul Bajaj's sister Suman Jain, in her press release addressed to the company stated that her name should be excluded from the list of promoters/insiders of the company and also her holdings from the holdings by the promoter & promoter group with immediate effect in the company's filings with the stock exchanges. She has cited Sebi's rules to this effect. The announcement was made after market hours yesterday, 21 August 2017. Suman Jain held 0.36% stake in Bajaj Auto as on 30 June 2017 in the promoter category.
ONGC rose 0.6% at Rs 158.50 after the company said that its board of directors at a meeting held yesterday, 21 August 2017, considered the proposal for acquisition of 51.11% of share of HPCL from the Government of India and given the in-principle approval for the same. Further, the Board has constituted a Committee of Directors to examine various aspects of the said proposal and to provide its recommendations to the board of directors. The announcement was made after market hours yesterday, 21 August 2017.
Pharma major Lupin advanced 2.3% at Rs 944 after the company announced that it has received notification that the inspection carried out by the USFDA in April 2017 at its Aurangabad facility is now closed and the agency has issued an Establishment Inspection Report (EIR). This closes all outstanding USFDA inspections at Lupin's Aurangabad facility. The announcement was made after market hours yesterday, 21 August 2017.
Overseas, Asian stocks edged higher as investors turned their attention to the US Federal Reserve's annual symposium in Jackson Hole at the end of the week. US stocks closed slightly higher yesterday, 21 August 2017, but a decline in tech and financials kept a lid on gains.
The annual Jackson Hole Economic Policy Symposium is scheduled for this Friday in Wyoming. Representatives from the central banks of more than 40 countries will attend the annual gathering, hosted by the Federal Reserve Bank of Kansas City.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
