Sensex regains 35,000

Domestic stocks saw a positive opening led by buying demand in index pivotals. At 9:21 IST, the barometer index, the S&P BSE Sensex, was up 172.87 points or 0.49% at 35,123.79. The Nifty 50 index was up 54.60 points or 0.52% at 10,578.60. The Sensex regained the psychological 35,000 level in opening trade.

The S&P BSE Mid-Cap index was up 0.37%. The S&P BSE Small-Cap index was up 0.53%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 293 shares rose and 93 shares fell. A total of 19 shares were unchanged.

Overseas, Asian stocks were mixed as investors looked to the US midterm elections set for later in the day. US stocks logged a mixed performance yesterday, 5 November 2018, ahead of an updated policy statement from the Federal Reserve and midterm elections that could alter the balance of power in Washington.

Midterm congressional elections, which are expected to see Democrats take control of the House and Republicans maintain a grip on the Senate, take place Tuesday. On Thursday, the Fed concludes a two-day policy meeting, which isn't expected to deliver a change in rates, but may offer fresh insights to investors about the pace of coming rate increases and the effects of trade clashes between the US and China on the domestic economy.

In US economic data, the ISM services index slipped to 60.3 in October, down from 61.6 in September.

Back home, Power Grid Corporation of India rose 0.3%. The company's net profit rose 7.9% to Rs 2309.49 crore on 14.2% increase in net sales to Rs 8283.03 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 5 November 2018.

Coal India rose rose 0.7% to Rs 265.45. The company said that the Government of India reduced its stake in the company by 3.19% to make its holding stand at 75.13% of the equity share capital of the company. The announcement was made after market hours yesterday, 5 November 2018.

HCL Technologies (HCL) gained 0.48% after the company said it tied up with Deutsche Bank to transform the bank's global cheque processing operations. Under the terms of the agreement, HCL will build a cloud-based digital and fully scalable cheque processing platform for the bank. The new IT-platform is expected to go live in 2019. The announcement was made after market hours yesterday, 5 November 2018.

PNB Housing Finance advanced 3.4%. On a consolidated basis, PNB Housing Finance's net profit rose 33.12% to Rs 252.99 crore on 41.89% increase in total income to Rs 1808.26 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 5 November 2018.

Powered by Capital Market - Live News