Leading stock exchanges, BSE and NSE, will drop United Spirits Ltd (USL) from the future and option segment from September 19 as the company failed to comply with listing agreements, including timely submission of financial results.

In similarly-worded circulars, BSE and NSE said “United Spirits Ltd has not submitted financial results for the year ended March 31, 2014 and quarter ended June 30, 2014 as required under Clause 41 of the listing agreement.”

India's NSE Nifty index rises as much as 0.43 percent to a record high of 7,924.90.

That marks its fourth record high this week, surpassing the previous all-time high on Wednesday

Reiterating its bullishness on the domestic equities, Swiss brokerage UBS has said NSE Nifty will scale the 8,000-mark by December even though market expectations from government remain "unrealistically" high.

"The market direction is likely to remain positive going forward. We believe investors will be willing to give a premium for growth potential, especially as cyclical economic recovery starts manifesting in data points...therefore we maintain our Nifty target for end-2014 at 8000," UBS analyst Gautam Chhaochharia said in a note.

The BSE Sensex extended gains for the fourth straight session today soaring by 184 points to reclaim the 26,000-mark after two weeks as inflation dropped to five-month low level and foreign capital inflows rose - markets are also expecting a positive 'mini-Budget' speech from PM Narendra Modi on Independence Day on Friday.

The BSE benchmark, the Sensex was trading 137.58 points or 0.53% lower at 25,757.39 points, while the NSE's Nifty was trading 48.70 points or 0.63% lower at 7,672.60 points at 9.45 am IST.

On Thursday, the US markets cracked after Argentina announced that it had defaulted on its debt. The Dow Jones closed 1.88% lower, while Nasdaq ended 2.09% lower on Friday.

The National Stock Exchange (NSE) index Nifty today scaled a new record-high of 7,809.20 points, led by a rally in IT, tech, auto, oil & gas, banking and pharma stocks on sustained foreign capital inflows amid robust corporate earnings.

The 50-issue NSE Nifty index regained the 7,800-level for the second time this month by surging 41.35 points, or 0.53 per cent, to trade at an all-time high of 7,809.20, surpassing its previous intra-day high of 7,808.85 touched on July 8.

Banking shares are trading higher by up to 6% in early morning deals on National Stock Exchange (NSE) after consumer price index (CPI)-based inflation fell to 7.31% in June, the lowest since its launch in January 2012.

Its wholesale counterpart declined to a four-month low of 5.43% in the month and wholesale price inflation eased to a four-month low in June after the new government curbed farm exports.

Infosys has dipped over 4% to Rs 3,185 in early morning deals, erasing its entire gain recorded in last week, on the National Stock Exchange (NSE).

The stock had outperformed the market by gaining 2.4% in last week compared to 3.7% decline in benchmark CNX Nifty.

Shares of information technology (IT) companies are trading higher in the range of 1-4% on the National Stock Exchange (NSE) after Infosys reported a better-than-expected consolidated net profit for the first quarter ended June 30, 2014 (Q1).

All four large-cap IT stocks - Infosys, Tata Consultancy Services (TCS), HCL Technologies and Wipro are up in the range of 1-2%. Rolta, Tech Mahindra, KPIT Cummins, NIIT Technologies and Hexaware Technologies are up 2-4% on NSE.

The benchmark BSE Sensex gained over 83 points to hit another record-high of 25,924.25 in opening trade today on strong rally in FMCG, metal, consumer durable, PSUs and oil & gas stocks amid sustained capital inflows.

Hitting a new peak for the second straight session, the 30-share barometer surged 83.04 points, or 0.32 per cent, to trade at 25,924.25, surpassing its previous intra-day high of 25,864.53 reached yesterday.

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