Key benchmark indices were trading higher in early trade, tracking positive leads from Asian markets and overnight gains on the Wall Street. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 101.49 points or 0.32% at 32,025.90. The Nifty 50 index was up 30.45 points or 0.30% at 10,047.40. The Sensex was trading above psychologically important 32,000 mark in early trade after breaching that level in opening trade.
The broad market depicted strength. There were more than three gainers against every loser on BSE. 1,171 shares rose and 362 shares fell. A total of 48 shares were unchanged.
Overseas, most Asian were trading higher, taking cues from positive closing in the US market overnight. The euro strengthened after Catalonia's president stepped back from declaring immediate independence from Spain, easing near-term concerns about euro zone instability.
The US stock market rose to record highs on Tuesday after Wal-Mart announced a large buyback and Honeywell said it was splitting into two. The Dow Jones Industrial Average gained 0.31% to hit a new all time high, while the S&P 500 index climbed 0.23%, and the NASDAQ Composite index added 0.11%.
Back home, Coal India was down 0.68%. The company said that memorandum of agreement for National Coal Wage Agreement-X has been signed on 10 October 2017 for a period of 5 years from 1 July 2016 to 30 June 2021. This agreement will impact 2.98 lakh coal workers and the total estimated avergae annual impact would be Rs 5667 crore. The announcement was made after market hours yesterday, 10 October 2017.
Sical Logistics was up 4.83%. The company said that the company's board of directors at their meeting held yesterday, 10 October 2017 have in-principle approved the proposal to initiate the buying of 26% stake held by MMTC in the company's subsidiary Sical Iron Ore Terminals. The announcement was made after market hours yesterday, 10 October 2017.
Apollo Tyres was up 0.43%. The company said that the committee of directors approved the issue and to allottment of 6.30 crore equity shares to eligible QIBs at Rs 238 per share, aggregating to approximately Rs 1500 crore. The announcement was made after market hours yesterday, 10 October 2017.
Roto Pumps was up 1.07%. The company said that in order to enhance the product basket and to exploit the robust marketing infrastructure, the company has launched a range of external gear pumps. This product will be marketed globally. The announcement was made after market hours yesterday, 10 October 2017.
Bodal Chemicals was down 0.52%. The company said that a meeting of the qualified institutional placement (QIP) Committee will be held on 13 October 2017 to consider and approve the issue price, including a discount, if any on the floor price, as permitted under the SEBI ICDR Regulations, for the shares to be allotted to qualified institutional buyers, pursuant to the QIP. The announcement was made after market hours yesterday, 10 October 2017. The board approved the opening of the QIP on 10 October 2017. The floor price for the QIP was fixed at Rs 166.73 per share.
PSP Projects was up 7.76%. The company said that it has been awarded main contract works at Surat Diamond Bourse, Khajod valued at Rs 1575 crore. The announcement was made after market hours yesterday, 10 October 2017.
PVR was up 1.63%. The company has introduced PVR PRIVILEGE, a class-leading loyalty program for its ever growing patron base. The loyalty program offers members an enriched array of first class redemption opportunities and enhanced benefits. The announcement was made after market hours yesterday, 10 October 2017.
Syndicate Bank was down 1.24%. The bank kept Marginal Cost of Funds Based Lending Rates (MCLR) unchnaged across the various tenors with effect from 10 October 2017. The announcement was made after market hours yesterday, 10 October 2017.
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