Key benchmark indices edged higher in early trade as firmness in Asian stocks boosted sentiment. The barometer index, the S&P BSE Sensex was currently up 66.80 points or 0.25% at 27,179.01. The market breadth indicating the overall health of the market was strong. The mid-cap and small-cap indices were in green. The BSE Mid-Cap index was up 0.84%. The BSE Small-Cap index was up 0.85%. Both these indices outperformed the Sensex. Asian stocks rose today, 19 September 2014 after the US stocks closed higher on Thursday, 18 September 2014 after data showed fewer Americans filed for jobless claims lifting the Dow Jones Industrial Average and the S&P 500 index to their record high.
Zee Entertainment Enterprises rose after Zee Entertainment Enterprises replaced United Spirits as a constituent in the NSE's 50-unit CNX Nifty Index today, 19 September 2014. Tech Mahindra gained after the company announced that it will work together with Bosch Software Innovations to develop an ecosystem to enable innovative solutions for the connected world and connected enterprises. Cipla gained after the company announced that it has signed an agreement with Salix Pharmaceuticals, Inc., a US-based speciality pharmaceutical company. Tata Power Company rose after the company said that Moody's Investors Service has upgraded the company's corporate family rating and senior unsecured rating. HCL Technologies gained after the company announced that the company will be expanding its presence in Wake County.
At 9:23 IST, the S&P BSE Sensex was up 66.80 points or 0.25% at 27,179.01. The index rose 68.05 points at the day's high of 27,180.26 in early trade. The index gained 17.36 points at the day's low of 27,129.57 in early trade.
The CNX Nifty was up 22.55 points or 0.28% at 8,137.30. The index hit a high of 8,139.75 in intraday trade. The index hit a low of 8,122.25 in intraday trade.
The market breadth indicating the overall health of the market was strong. On BSE, 1,176 shares gained and 326 shares fell. A total of 33 shares were unchanged.
The BSE Mid-Cap index was up 83.10 points or 0.84% at 9,944.32. The BSE Small-Cap index was up 94.37 points or 0.85% at 11,215.53. Both these indices outperformed the Sensex.
Reliance Industries (RIL) rose 0.1%. Reliance Jio Infocomm (Reliance Jio), a subsidiary of RIL and GTL Infrastructure after market hours on Thursday, 18 September 2014 announced the signing of a Master Services Agreement (MSA) for tower infrastructure sharing. The agreement with GTL Infra will help Reliance Jio accelerate the roll out of pan India next-generation voice and data services, Reliance Jio said.
GTL Infrastructure hit 5% upper circuit at Rs 3.16 on BSE.
Tata Power Company rose 1.99% after the company said after market hours on Thursday, 18 September 2014, that Moody's Investors Service has upgraded the company's corporate family rating to Ba3/Stable from B1/Negative, and senior unsecured rating to Ba3/Stable from B2/Negative, thus no longer notching for subordination.
Maruti Suzuki India (MSIL) gained 0.4%. The company after market hours on Thursday, 18 September 2014 said it has appointed R S Kalsi as the head of Domestic Marketing and Sales. Kalsi is currently Executive Director, heading the parts, accessories and outbound logistics divisions of the company, MSIL said in a statement.
Shashank Srivastava, Executive Director, will continue to head International Marketing for the company and both Kalsi and Srivastava will report to the Managing Director, MSIL said. These changes follow the resignation of Mayank Pareek, Senior Executive Officer (Marketing and Sales) from the company.
With these organisational changes Maruti Suzuki will continue to strengthen its relationship with customer and partners, the company said.
Cipla gained 0.93% after the company after market hours on Thursday, 18 September 2014 announced that it has signed an agreement with Salix Pharmaceuticals, Inc., a US-based speciality pharmaceutical company. Under the agreement, Cipla has granted Salix exclusive rights under certain patent applications in the 'Rifaximin Complexes' patent family controlled by Cipla.
The grant is on a worldwide basis, excluding the countries of Asia (other than Japan) and Africa, Cipla said. Salix is required to make an up-front payment and, upon achievement, additional regulatory milestone payments to Cipla in respect of the new license agreement regarding the 'Rifaximin Complexes' patent rights. Salix also will pay a royalty on net sales of products covered by the 'Rifaximin Complexes' patents licensed to Salix, the company said.
HCL Technologies gained 0.55% after the company announced before market hours that the company will be expanding its presence in Wake County. The company plans to expand its existing center and create an additional 1,237 jobs in Cary by the end of 2018. As part of its strategy to accelerate innovation and further enhance satisfaction for its clients, HCL sees Cary as a strategic talent hub in the Americas and will invest approximately $9 million in expanding the center.
The project was made possible in part by an award to HCL from the state Job Development Investment Grant (JDIG) program, as voted by the state Economic Investment Committee. Under the terms of the company's JDIG award, HCL is eligible to receive up to twelve annual grants equal to 75% of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Over twelve years, the JDIG award could yield aggregate benefits to HCL of more than $19.6 million upon the creation of 1,237 jobs.
Tech Mahindra gained 0.83% after the company after market hours on Thursday, 18 September 2014 announced that it will work together with Bosch Software Innovations to develop an ecosystem to enable innovative solutions for the connected world and connected enterprises.
Zee Entertainment Enterprises rose 0.56% after Zee Entertainment Enterprises replaced United Spirits as a constituent in the NSE's 50-unit CNX Nifty Index today, 19 September 2014.
Shares of United Spirits gained 0.96%.
Asian stocks rose today, 19 September 2014, as data showed fewer Americans filed for jobless claims. Key benchmark indices in Singapore, Hong Kong, Indonesia, Taiwan, Japan and South Korea rose by 0.09% to 1.45%. China's Shanghai Composite fell 0.1%.
US stocks rose on Thursday, 18 September 2014, a day after the US Federal Reserve kept intact its pledge to keep interest rates low, providing a backstop for investors that helped lift both the Dow Jones Industrial Average and the S&P 500 index to record highs.
US housing starts and permits fell in August, but upward revisions to the prior month's data indicated gradual improvement in the housing market.
Separately, American jobless claims fell by 36,000 to 280,000 in the period ended 13 September 2014, the Labor Department said yesterday. Those already collecting unemployment benefits fell to a more than seven-year low.
In UK, Scotland has voted on whether to stay within the United Kingdom or break the 307-year-old union in a finely balanced independence referendum with global consequences. Its verdict should be clear today, 19 September 2014.
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