Key indices opened lower taking cue from Asian markets. At 9:15 IST, the barometer index, the S&P BSE Sensex, was down 66.69 points or 0.16% at 41,491.88. The Nifty 50 index was down 14.45 points or 0.12% at 12,207.20.
The S&P BSE Mid-Cap index was down 0.23%. The S&P BSE Small-Cap index was down 0.05%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 349 shares rose and 368 shares fell. A total of 37 shares were unchanged.
Among stocks, NBCC was up 0.14%. NBCC said it has secured the business of Rs 8861.05 crore during the month of November, 2019.
Piramal Enterprises fell 0.23%. Piramal Enterprises said it has fixed 31 December as a record date for right issue. It has fixed rights entitlement ratio as 11 (Eleven) Equity Share for every 83 (Eighty Three) fully paid-up Equity Shares held as on the Record Date by the Eligible Equity Shareholders of the Company and the holders of CCDs who may participate in the Issue. Rights issue is fixed at Rs 1 ,300 per Equity Share (including a premium of Rs. 1,298 per Equity Share.
L&T Finance Holdings rose 0.09%. L&T Finance Holdings said the board approved fund raising of up to Rs 300 crore. The fund raising will be in the form up to 300,00,000 Cumulative Compulsorily Redeemable Non-Convertible Preference Shares of Rs 100 Face Value at par and aggregating up to Rs 300 crore on a private placement basis.
NMDC was up 2.29%. NMDC said the company has received from Approval for Modified Mining Plan of Kumaraswamy Iron Ore Mines of NMDC from 7 MTPA (7-Million Tonnes per Annum) to 10 MTPA (10-Million Tonnes per Annum) from the Indian Bureau of Mines (IBM), Ministry of Mines, Government of India. The effective date of approval is for 2020-21 and 2021-22. NMDC operates the Kumaraswamy Mines at its facility in the state of Karnataka.
Lemon Tree Hotels went up 3.59%. Lemon Tree Hotels said the company has signed a License Agreement for a 44 room Hotel located at Baga, Goa under the Company's brand 'Lemon Tree Hotel' and this will be its fifth Hotel in Goa. The Hotel will feature 44 well-appointed rooms and suites, complemented by a multi-cuisine restaurant - Citrus Caf a bar, meeting and conference spaces, a swimming pool, a well-equipped fitness center, a rejuvenating spa and more. The hotel, owned by Aqua Resorts And Spa Pvt. Ltd, is expected to be flagged and re-launched in April 2020. Carnation Hotel Private Limited, a subsidiary and the hotel management arm of the Company will be operating and marketing this Hotel.
JK Paper was up 2.74%. JK Paper said CRISIL has upgraded the ratings on the long-term bank facilities, non-convertible debentures aggregating Rs 335 crore, and fixed deposit of Rs 100 crore programme of JK Paper Limited (JKPL) to ''CRISIL AA-/FAA/Stable'' from ''CRISIL A+/FAA-/Positive''. Rating for Commercial Paper of Rs 100 crore was reaffirmed at CRISIL A1 +
Overseas, most Asian markets were trading lower on Thursday as investors sat on the sidelines with little in the way of fresh catalysts after the year's big run-up. Investors are also keeping an eye on impeachment proceedings in the US.
In US, stocks extended winning streak on Wednesday with the boost in sentiment from a preliminary US-China trade.
Investors remained largely unfazed by impeachment proceedings against President Donald Trump led by House Democrats.
The United States House of Representatives on Wednesday voted largely along party lines to impeach President Donald Trump for obstruction of Congress and abuse of power related to his dealings with Ukraine. Trump is only the third president in US history to be impeached by the full House.
The trial on removing Trump from office will now move to the Senate. Republicans hold a solid majority and are expected to exonerate him in the Senate.
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