Nifty holds 7,900 amid range bound trades
.jpg)
Markets have turned range bound in the morning trades amid absence of any fresh triggers as traders maintained a cautious stance ahead of the expiry of December F&O contracts.
At 11:45am, benchmark indices were showing a divergent trend with S&P BSE Sensex up 13 points at 26,048 and Nifty50 down 6 points at 7,918.
On the currency front, breaking its 8 day rising streak, the rupee traded lower by 17 paise at 66.36 against the dollar in early trade at the Interbank Foreign Exchange on month-end demand for the US currency from importers amid capital outflows.
In the commodity markets, the oil prices regained some of its lost ground to stabilize a bit after slipping more than 3% on Monday.
Meanwhile, the Supreme Court of India upheld the Kerala liquor ban policy. Reacting to the news, the liquor stocks came under pressure. United Breweries, United Spirits, Tilaknagar Industries have dropped between 0.7%-1.5% each.
Among the sectoral indices, BSE Pharma, BSE Oil&Gas, and BSE Auto indices have seen some buying interest.
Individually, Lupin was up 0.3% after the company announced it has received approval for generic Femhrt tablets. Among its peers, Sun Pharma, Cipla and Dr Reddy's Labs were up 0.1%-0.3% each.
HDFC has gained amid media reports that it has sold 2.12% stake in Indraprastha Medical Corporation through the secondary market. The stock has advanced 0.4%.
Auto shares also have edged up ahead of their December sales numbers. M&M, Bajaj Auto, and Hero MotoCorp were up 0.5%-1.5%each while Maruti Suzuki is trading flat.
Gail (India) has advanced 1.5% on the buzz of lower imported gas prices. With new prices, GAIL's transmission volumes, margins and Petchem segments' profitability can all get a boost.
State-owned oil marketing companies: Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) have firmed up 0.3%-0.5% each on the Bombay Stock Exchange on reports that they might jointly set up a mega refinery at Ratnagiri in coastal Maharashtra.
National Building Construction Corp has gained 0.4% after the company bagged an order worth Rs 328.08 crore from Nabinagar Power Generating Company for a township project near its super thermal power project. Nabinagar Power Generating Company is a joint venture between NTPC and Bihar State Power Generation Co.
Shares of Suven Life Sciences were up 2.5% on the BSE after the company said it has received product patents one each from Europe and Macau corresponding to the new chemical entities for the treatment of disorders associated with neurodegenerative diseases.
According to media reports, the board of Jindal Steel and Power has allowed lenders to its subsidiary Jindal Power to convert the debt into equity in case of a default. The stock has gained 0.4%
On the losing side, BHEL, Coal India, HUL, ITC, and HDFC Bank have lost between 03-1.3% each.
Other Latest News
.webp)
The Supreme Court on Tuesday dismissed a petition seeking to revert to ballot paper voting in elections in the country.
"What happens is, when you win the election, EVMs (electronic voting machine) are not tampered. When you lose the election, EVMs are tampered (with)," remarked a bench of Justices Vikram Nath and P B Varale.
.webp)
The Bharatiya Janata Party (BJP) would not rush into announcing its chief ministerial candidate until the distribution of portfolios in the new Maharashtra government is finalised, party sources said on Tuesday.
The indications that the Mahayuti coalition's decision on who would become the next CM would be delayed emerged as the Governor on Tuesday morning asked Eknath Shinde to act as a caretaker chief minister after he tendered his resignation.
.webp)
Anurag Agrawal, Dean of Biosciences and Health Research at Ashoka University, in a conversation with Economic Times, has claimed that every resident of Delhi is developing lung damage as deadly smog continues to blanket the Capital city.
Upon being asked how many people will suffer from lung cancer in future because of poor AQI, the Ashoka University dean said that “every Delhi is developing some degree of lung damage.” People who have pre-existing diseases or sensitivity are more serious, but no one is immune to it, he added.
.webp)
India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters.
US authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed Indian government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of Jammu and Kashmir, between 2021 and 2022.
.webp)
The board of directors of Hindustan Unilever (HUL) on Monday gave an in-principle approval to demerge the ice-cream business into an independent listed entity.
Subject to necessary approvals and procedures, shareholders of HUL will receive shares in the new entity in proportion to their shareholding in the company, HUL said in a release.
.webp)
.webp)
.webp)
.webp)
.webp)
