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Buyers and sellers were not immediately known
Source: Bloomberg
Shares of sugar makers were trading lower after the production of sweetner rose to 23.05 million tonnes fin 2017-18 compared with 16.26 million tonnes suring the same period last year, according to industry body Indian Sugar Mills Association (ISMA).
Sugar Stocks trade lower:
Shares of the government-owned banks climbed back into green around 12:00 pm and rose 0.6 percent to Rs 100.65 after the Indian investigators were said to widen probe into $2 billion PNB fraud.
Shares of the debt-ridden steel maker fell nearly 3 percent to Rs 45.55 after NCLT issued notice to the company on resolution professional's plea.
Resolution professional has alleged that Bhushan Steel is not sharing data.
Shares of JSW Energy rose as much as 2.9 percent to Rs 81.70 after it acquired JSW Electric Vehicles Private Ltd.
Shares of the Mumbai-based private lender rose as much as 5.9 percent, the most in almost six months, to Rs 1,790.
IndusInd Bank Ltd. has invoked the pledge on 6 crore Jaypee Infratech Ltd. shares, which amounts to a 4.3 percent stake of the crisis-hit company. These shares were held by Jaypee Infratech’s promoter Jaiprakash Associates Ltd., which is the flagship company of debt-ridden Jaypee Group.
Indian equity benchmarks pared gains as M&M, State Bank of India, Coal India and Power Grid came under selling pressure.
The S&P BSE Sensex rose 0.4 percent to 33,887 and the NSE Nifty 50 Index gained 0.4 percent to 10,400.
Nine out of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Media index's 1.6 percent gain. On the other hand, the Nifty PSU Bank index was the top sectoral loser, down 0.27 percent.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the tile maker rose as much as 4 percent to Rs 687 after its board approved plan to merge three units of promoter group with itself.
Shares of the Mumbai-based steel wire rope maker rose as much as 6.2 percent to Rs 126.35 ahead of board meet on March 9 to consider and approve raising of funds.
Shares of the Mumbai-based film maker rose as much as 3.26 percent to Rs 103 after its subsidiary Double Negative (DNEG) won an Oscar award for its work on Blade Runner 2049.
This is the third Oscar win for DNEG since the merger with Prime Focus and fourth overall – having earlier won Oscars for Interstellar, Ex Machina and Inception. Last week DNEG was honoured with the BAFTA award for ‘Best Special Visual Effects’ for the same film, the company said in a press release.
Shares of the country's largest drug maker rose as much as 2.5 percent to Rs 562 after the U.S. drug regulator found no data integrity issues, and its observations are mostly to do with procedural matters, according to the information on the Form 483 on its website.
The three observations issued by the U.S. Food and Drug Administration inspectors are focused on equipment and plant cleanliness and hence addressable, said Gurudatta GG, chief executive officer at consulting firm Estima Pharma Solutions in a comment to BloombergQuint.
Indian equity benchmarks opened sharply higher led by gains in metal producers and private banks amid strong global cues.
The S&P BSE Sensex rose 0.6 percent or 212 points to 33,958 and the NSE Nifty 50 Index climbed 0.6 percent or 64 points to 10,423.
Gains were broad-based as the S&P BSE MidCap and the S&P BSE SmallCap indices rose 0.8 percent each.
All sectoral gauges compiled by the National Stock Exchange were trading higher led by the Nifty Metal index's 2.2 percent gain.
Here's a quick look at corporate insider trades reported on Monday.https://t.co/d24BywhAUk pic.twitter.com/R7c21v3A1h
— BloombergQuint (@BloombergQuint) March 6, 2018
Traders appetite for state government bonds will be tested today with the equivalent of $2.8 billion of debt set to be auctioned.
The quasi-sovereign bonds are being sold in an environment where demand for government paper remains weak
The benchmark 10-year bond yield rose 4 basis point to 7.78 percent on Monday and has advanced in each of the previous three weeks.
Participation in the bond market has been subdued for some time, but it has contracted even further of late, plagued by an acute lack of appetite, Edelweiss Securities said in a note after trading hours Monday.
It appears that the appetite is unlikely to turnaround soon, the note said.
The rupee may climb today, in line with its Asian peers. Forwards imply the currency may start trading around 64.99 to the U.S. dollar.
For a complete list of stocks in news, click here
BSE
India solar goal has a secret weapon.https://t.co/mUBRyngNTk pic.twitter.com/aTlbJyO0wZ
— BloombergQuint (@BloombergQuint) March 6, 2018
Nikkei snaps 4-day losing streak.https://t.co/EHwJf2AfyQ pic.twitter.com/sE8UizqRcH
— BloombergQuint (@BloombergQuint) March 6, 2018
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