Market opens higher on positive Asian cues

Key benchmark indices were trading higher in early trade, tracking strength in other Asian stocks. At 9:21 IST, the barometer index, the S&P BSE Sensex, was up 65.73 points or 0.24% at 26,943.97. The Nifty 50 index was currently up 15.90 points or 0.19% at 8,289.70.

Among secondary barometers,the BSE Mid-Cap index was currently up 0.55%. The BSE Small-Cap index was currently up 0.41%. Both these indices outperformed the Sensex.

The broad market depicted strength. There were more than three gainers against every loser on BSE. 733 shares rose and 190 shares fell. A total of 53 shares were unchanged.

Overseas, most Asian stocks were trading higher today, 6 January 2017. China's Shanghai Composite was down 0.11%. Japan's Nikkei 225 was down 0.43%. In US, the tech-heavy Nasdaq closed at a record yesterday, 5 January 2017, as the broader stock market finished lower, dragged down by a steep slide in the financial sector and major retailers. Mixed data on jobs also raised concerns a day before the closely watched December employment report due today, 6 January 2017.

In US, the private sector added 153,000 jobs in December, according to ADP, a rate that was below forecasts, while first-time jobless claims fell 28,000 in the latest week, dropping to a nearly 43-year low. Separately, a reading on the US services sector held steady at a 12-month high in December, suggesting growth in non-manufacturing activity, mainly the service sector, remains strong.

Jubilant Life Sciences was up 0.56%. The company announced about the issuance of commercial papers of Rs 50 crore having coupon rate of 6.79% per annum. The tenure of the instrument is 61 days. The announcement was made after market hours yesterday, 5 January 2017.

Wockhardt was up 4.54%. The company said that competent authority, Berlin, Germany has since issued EU GMP Certificate confirming that company's manufacturing facility at 138, GIDC Estate, Ankaleshwar, Gujarat, complies with the principles and guidelines of Good Manufacturing Practices. The certificate issued in this regard is valid for 3 years. The announcement was made after market hours yesterday, 5 January 2017.

Piramal Enterprises was up 3.06%. The company said that its wholly owned subsidiary, Piramal Finance (PFL) is in the business of providing financial services. In line with the company's growth plans, PFL will now be making an application to the National Housing Bank (NHB) for incorporating a housing finance company (HFC) as its subsidiary. This has been approved by the company's board of directors at its meeting yesterday, 5 January 2017. The announcement was made after market hours yesterday, 5 January 2017.

Credit Analysis and Research (CARE) was up 0.62%. The company announced that it has been operating in Maldives based on licence issued by Capital Market Development Authority (CMDA), Maldives. The current licence issued by CMDA expired on 5 January 2017. After a review of the past operations and future prospects in Maldives, CARE has decided not to renew its licence. This has been already notified to CMDA. Hence, operations of CARE in Maldives stands closed from 6 January 2017. The announcement was made after market hours yesterday, 5 January 2017.

Indian Bank was up 0.24%. The bank announced different benchmark marginal cost of funds based lending rate (MCLR) rates with effect from 7 January 2017. The overnight MCLR stands at 8.4%. The announcement was made after market hours yesterday, 5 January 2017.

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