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Market opens higher on positive Asian stocks

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Key indices were trading higher in early trade on positive Asian stocks. At 9:27 IST, the barometer index, the S&P BSE Sensex, was up 69.36 points or 0.18% at 39,661.44. The Nifty 50 index was up 26.70 points or 0.23% at 11,874.25.

Market is likely to see volatility due to F&O expiry. Traders roll over positions in the F&O segment from the near month June 2019 series to July 2019 series. The June 2019 F&O contracts expire today, 27 June 2019.

The S&P BSE Mid-Cap index was up 0.21%. The S&P BSE Small-Cap index was up 0.49%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 805 shares rose and 326 shares fell. A total of 31 shares were unchanged.

Overseas, Asian markets were trading higher ahead of the highly anticipated G20 meeting.

US stocks closed mostly lower Wednesday, as investors grew increasingly skeptical that a U.S.-China trade deal is in the offing, though technology shares were supported by optimism related to Micron Technology's better-than expected guidance.

Meanwhile, investors looked toward developments on the US-China trade front, with Presidents Donald Trump and Xi Jinping set to meet at the G-20 summit in Osaka, Japan,which kicks off on Friday.

Back home, State Bank of India (SBI) rose 0.68%. SBI said that the meeting of central board of the bank is scheduled to be held on 1 July 2019 to consider raising additional tier 1 (AT1) capital by way of issuance of Basel-III compliant debt instrument in USD and/ or INR from domestic/ international market during FY 2020. The announcement was made after market hours yesterday, 26 June 2019.

Infosys rose 0.3%. EdgeVerve Systems, a subsidiary of Infosys announced the launch of AssistEdge Engage at CCW Vegas. AssistEdge Engage is an intelligent automation platform for contact centers offering smart features that increase agent productivity, satisfaction and elevate customer experience. The announcement was made after market hours yesterday, 26 June 2019.

Mahindra & Mahindra (M&M) rose 0.75%. Mahindra International UK (MIUL), a wholly owned subsidiary of Mahindra Overseas Investment Company (Mauritius) (MOICML) which in-turn is a wholly owned subsidiary of M&M had filed for voluntary liquidation and upon receipt of the Order dated 26 June 2019 has been liquidated and ceased to be in existence. Pursuant to the same, MIUL has ceased to be a subsidiary of MOICML and that of the company. The announcement was made after market hours yesterday, 26 June 2019.

CreditAccess Grameen advanced 4.55%. CreditAccess Grameen has completed a direct assignment of Rs 138.89 crore on 26 June 2019. This is the first direct assignment transaction initiated during the FY-2019-20. With this transaction, the company has completed one securitization and one direct assignment transaction totaling to Rs 249.24 crore in FY-2019-20. The announcement was made after market hours yesterday, 26 June 2019.

Welspun India gained 2.12%. Welspun India has entered into joint venture with Sense Organics Import & Trading GmbH, Germany (SOIT) and has acquired 51% of the share capital, at, par, of Pure Sense Organics Myanmar (PSOML). PSOML is a company incorporated under the Myanmar Companies Act 2018 on 24 January 2018. Welspun India will be investing amounts upto US$ 140,000 during year 2019 as a part of the company's sustainable sourcing strategy. The announcement was made after market hours yesterday, 26 June 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 27 2019. 09:27 IST