Key indices edge higher in early trade

Key benchmark indices edged higher in early trade on positive Asian stocks. At 9:18 IST, the barometer index, the S&P BSE Sensex rose 149.57 points or 0.46% at 32,910.01. The Nifty 50 index advanced 45.15 points or 0.45% at 10,163.20.

The S&P BSE Mid-Cap index rose 0.54%. The S&P BSE Small-Cap index advanced 0.55%. Both the indices outperformed the Sensex.

Overseas, Asian stocks edged higher, shrugging off the softer lead from Wall Street. US stocks closed lower yesterday, 15 November 2017 as the current bull market showed signs of slowing down. The International Energy Agency (IEA) slashed its outlook for oil demand growth by 100,000 barrels per day for 2017 and 2018.

Closer home, the breadth, indicating the overall health of the market, was strong. On BSE, 898 shares rose and 308 shares declined. A total of 35 shares were unchanged.

L&T (up 1.29%), Reliance Industries (up 1.21%) and Dr Reddy's Laboratories (up 0.99%) edged higher from the Sensex pack. Hindustan Unilever (down 1.37%), Coal India (down 1.02%) and Hero MotoCorp (down 0.57%) edged lower from the Sensex pack.

ONGC was up 1.52% at Rs 180.05. With reference to media report titled "Venezuela likely to go bankrupt in a day", ONGC clarified that its wholly-owned subsidiary, ONGC Videsh (OVL), is implementing the 'San Cristobal Oil Field Project' in Venezuela. Consequent to the agreements signed in November 2016, Petreos de Venezuela, S.A. (PDVSA) has paid $88 million out of $537 million and the outstanding amount of dividend as of now is about $449 million.

A high level delegation from OVL held meetings with HE Eulogio Del Pino, Minister of Petroleum, Venezuela and Nelson Martinez, President, PdVSA on 9th and 10th November 2017 for compliance with the agreements signed in November 2016. OVL has been assured that PdVSA is committed to these agreements and payments will be made through existing offtaker channels or through new agreements with the Government owned refineries and accordingly the investment in Venezuela will be protected. ONGC issued the clarification after trading hours yesterday, 15 November 2017.

RBL Bank was up 0.55% at Rs 507.85 after the bank said that it has on 14 November 2017, acquired additional 2.08% stake in Swadhaar FinServe and thereby increased its shareholding in Swadhaar to 60.48%. The announcement was made after trading hours yesterday, 15 November 2017.

Powered by Capital Market - Live News