Key benchmark indices witnessed a divergent trend in early trade. At 9:16 IST, the barometer index, the S&P BSE Sensex fell 44.69 points or 0.13% at 33,411.10. The Nifty 50 index rose 2.65 points or 0.03% at 10,324.90.
The S&P BSE Mid-Cap index fell 0.1%. The S&P BSE Small-Cap index declined 0.04%. Both the indices outperformed the Sensex.
Overseas, Asian stocks edged higher following a strong lead from Wall Street overnight. US equities closed higher yesterday, 11 December 2017, reversing earlier weakness following a terror incident near New York City's Times Square. The Dow Jones Industrial Average and the S&P 500 notched record closing highs.
The US Federal Reserve's Federal Open Market Committee (FOMC) starts its two-day meeting on interest rates later in global day today, 12 December 2017. The US Federal Reserve will announce its interest rate decision tomorrow, 13 December 2017. The Federal Reserve left the target range for its federal funds rate unchanged at 1% to 1.25% during its November 2017 meeting as widely expected.
Closer home, the breadth, indicating the overall health of the market, was positive. On the BSE, 634 shares rose and 588 shares declined. A total of 47 shares were unchanged.
Dr Reddy's Laboratories (DRL) surged 4.11% at Rs 2,283.65 after the company said it has received an Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) yesterday, 11 December 2017, as closure of audit of the company's formulations manufacturing plant - 3 at Bachupally, Hyderabad. The announcement was made after market hours yesterday, 11 December 2017.
Asian Paints fell 1.91% at Rs 1,106.50. The company said that it purchased the balance 49% stake in the kitchen solution provider company, Sleek International, from Ahuja Family and the shareholders agreement dated 8 August 2013 with the Ahuja Family has been terminated. Sleek has now become a wholly-owned subsidiary of the company. The announcement was made after market hours yesterday, 11 December 2017.
On 8 August 2013, Asian Paints had announced that it acquired 51% stake in Sleek from the Ahuja family by entering into a shareholders agreement with the Ahuja family and Sleek.
NTPC was down 0.45% at Rs 177.45. The company issued a clarification to the stock exchanges on recent news item appearing in media titled 'CBI registers corruption case against NTPC finance director'. NTPC said it is not aware of any information other than those published in the newspapers or as reported in the media. At this stage no material impact of this article can be considered on the company, it said. The company is not aware of any information that has not been announced to the exchanges under Regulation 30 of Listing Regulations, it added. The clarification was issued after market hours yesterday, 11 December 2017.
On macro front, the government will announce industrial production data for October today, 12 December 2017. India's industrial production increased by 3.8% year-on-year in September, following an upwardly revised 4.5% gain in the previous month in August.
The government will announce today, 12 December 2017, inflation data based on consumer price index (CPI) for November. Consumer prices increased 3.58% year-on-year in October, above 3.28% in September.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
