A bout of volatility was seen as the key benchmark indices once again trimmed gains in afternoon trade after regaining strength from lower level in early afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex was up 57.71 points or 0.2% at 28,351.99. The Nifty 50 index was currently up 18.40 points or 0.21% at 8,741.45. The market breadth indicating the overall health of the market was positive. On BSE, 1,419 shares rose and 1,066 shares fell. A total of 220 shares were unchanged. The BSE Mid-Cap index was currently up 0.42%. The BSE Small-Cap index was currently up 0.61%. Both these indices outperformed the Sensex.
In overseas stock markets, European and most Asian stocks rose with sentiment buoyed by the US presidential debate where Hillary Clinton appeared to gain momentum over Donald Trump. Investors were reacting to the first televised debate between US presidential nominees Hillary Clinton and Donald Trump yesterday, 26 September 2016. Clinton appeared to have edged out her Republican opponent based on reports on the initial market reaction.
US stocks extended losses yesterday, 26 September 2016 as worries about Germany's Deutsche Bank weighed on the financial sector and as investors awaited the US presidential debate. US presidential elections will be held on 8 November this year.
Most FMCG stocks rose. Godrej Consumer Products (up 1.13%), Britannia Industries (up 0.32%), Colgate-Palmolive (India) (up 0.34%), Dabur India (up 0.3%), Hindustan Unilever (up 0.38%), Tata Global Beverages (up 0.82%), Procter & Gamble Hygiene and Health Care (up 1.54%), Jyothy Laboratories (up 0.7%) rose.
GlaxoSmithkline Consumer Healthcare (down 0.17%), Marico (down 0.29%), Nestle India (down 0.62%) and Bajaj Corp (down 0.94%) fell.
Cement stocks saw mixed trend. Ambuja Cements (up 1.33%) and ACC (up 0.57%) rose. UltraTech Cement (down 0.15%) and Shree Cement (down 0.68%) fell.
Grasim Industries was up 0.35% at Rs 4,862.30. Grasim has exposure to the cement sector through its holding in UltraTech Cement.
Multi Commodity Exchange of India rose 7.97% to Rs 1,157.05 after the company hiked transaction charges for investor trades on its platform. The company made the announcement ysterday, 26 September 2016. For trading in non-agricultural commodities, Multi Commodity Exchange of India (MCX) has increased the transaction fee to Rs 2.60 for every Rs 1 lakh turnover for members generating a monthly average daily turnover of up to Rs 350 crore. Incremental turnover above Rs 350 crore would attract a charge of Rs 1.75 per lakh. In the case of agriculturural commodities, MCX has increased the transaction charges to Rs 1.75 for every Rs 1 lakh turnover.
The transaction fee shall be debited on a monthly basis to the settlement account of the members in the first week of the succeeding month. The above said transaction fee structure will be effective for trades executed from 1 October 2016 onwards and will be valid till further notice.
Adlabs Entertainment fell 4.59% to Rs 107.05 on profit booking after a recent rally. Shares of Adlabs Entertainment had gained 45.71% in four trading sessions to settle at Rs 112.20 yesterday, 26 September 2016, from its close of Rs 77 on 20 September 2016.
Meanwhile, the Asian Development Bank kept its growth estimates for developing Asia for this year and next at 5.7%, saying sustained expansion in China and India can steady the region but warned of risks from a looming US interest rate hike. The Manila-based lender increased its growth forecast this year for China to 6.6% from 6.5% and for 2017 to 6.4% from 6.3%, citing fiscal and monetary stimulus measures in the world's second-largest economy. The projections for India were kept at 7.4% for this year and 7.8% for 2017, driven by strong consumption and an investment revival, the ADB said.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)