Market opens higher

Key benchmark indices were trading higher in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 24.58 points or 0.07% at 35,669.98. The Nifty 50 index was up 9.45 points or 0.09% at 10,779.35.

Among secondary barometers,the BSE Mid-Cap index and the BSE Small-Cap index were up by 0.07% each. Both these indices matched the Sensex's returns in percentage terms.

The market breadth, indicating the overall health of the market, was positive. On BSE, 534 shares rose and 484 shares fell. A total of 38 shares were unchanged.

Overseas, Asian markets were trading lower as investors searched for direction ahead of a deadline when tariffs from the US and China are due to be implemented. A looming 6 July 2018 deadline is set to see the US impose a 25% tariff on $34 billion worth of Chinese goods from more than 800 product categories. China has also announced that it will retaliate with duties on the same value of US products.

US stock market was shut on Wednesday for the Independence Day holiday.

Back home, Biocon was up 1.07%. The company has received the EU GMP certification for its Sterile Drug Product manufacturing facility in Bangalore, which was inspected by the European agencies in March 2018. This facility is used for the manufacture of Biocon's portfolio of biosimilars. The announcement was made after market hours yesterday, 4 July 2018.

Reliance Industries (RIL) was up 1.11%. The company will hold its annual general meeting today, 5 July 2018 at 11:00 IST at Mumbai.

VA Tech Wabag was up 1.61%. The company announced that the meeting of the Board of Directors of the company is scheduled to be held on 9 July 2018, consider and approve the fund raising proposal. The announcement was made after market hours yesterday, 4 July 2018.

Future Lifestyle Fashions (FLFL) was up 5.10%. KOOV, the leading e-commerce fashion business, announced that it has reached a conditional agreement with Future Lifestyle Fashions (FLFL), to subscribe for up to a 29.9% stake in Koovs. The announcement was made after market hours yesterday, 4 July 2018.

Som Distilleries & Breweries was up 2.10%. The company's subsidiary, Som Distilleries & Breweries Odisha, has acquired a Brewery unit in Odisha. The facility is expected to be operational in the next 3-4 months. The unit has been acquired at a cost of Rs 46 crore. The capacity of the unit is 42 lakh cases per annum. The company expects additional expenditure of Rs 25-30 crores on the upgradation of the manufacturing asset. The announcement was made after market hours yesterday, 4 July 2018.

Powered by Capital Market - Live News