Key indices are trading higher in early trade on buying demand in index pivotals. At 9:23 IST, the barometer index, the S&P BSE Sensex, was up 57.03 points or 0.14% at 41,077.64. The Nifty 50 index was up 13.10 points or 0.11% at 12,113.80. The Sensex and the Nifty, both, scaled record high in early trade.
The S&P BSE Mid-Cap index was up 0.22%. The S&P BSE Small-Cap index was up 0.08%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 615 shares rose and 463 shares fell. A total of 69 shares were unchanged.
Trading could be volatile as traders roll over positions in the F&O segment from the near month November 2019 series to December 2019 series. The November 2019 F&O contracts expire today, 28 November 2019.
On the political front, Shiv Sena chief Uddhav Thackeray will take oath as the Chief Minister of Maharashtra today at Shivaji Park. While the Nationalist Congress Party (NCP) will reportedly get deputy chief minister's post in the new Sena-led Maharashtra government, the Congress is likely to get Assembly Speaker's post.
Among stocks, Cipla rose 1.48%. Cipla's wholly owned subsidiary Cipla (EU), holding 60% stake in Cipla Pharma Lanka (Private) Limited (Cipla Pharma Lanka), Sri Lanka, has signed an agreement with CitiHealth Imports (Private) Limited to acquire the remaining 40% stake in Cipla Pharma Lanka. Post-acquisition, Cipla Pharma Lanka will become a wholly owned subsidiary.
BSE rose 1.15% to Rs 502.90. CDSL lost 2.53% to Rs 217.65. BSE said that divestment committee of the board of the company has accorded approval for divestment of 41.80 lakh equity shares, constituting 4% of stake in Central Depository Services (India) through Offer for Sale process through Stock Exchange mechanism. The offer for non-retail investors will open on 28 November 2019 Date and for retail investors will open on 29 November 2019. The floor price for the offer is Rs 205 per equity share.
RBL Bank fell 0.26%. RBL Bank said that the meeting of the board of directors of the bank is scheduled on 30 November 2019 to consider and approve raising of funds by way of issue of equity shares on a preferential basis.
Balaji Amines surged 7%. Balaji Amines has received the environmental clearance for setting up Organic and Specialty Chemicals Manufacturing Unit in Chincholi MIDC, District Solapur Maharashtra from the Ministry of Environment, Forests & Climate Change, Government of India.
CEAT rose 0.37%. CEAT informed that the company has now signed the Share Subscription and Shareholders' Agreement ('SSHA') with Greenzest Solar Private Limited (Greenzest) and Cleantech India OA Pte. Ltd. (Cleantech), for subscribing to at least 26% of total equity share capital of Greenzest, for a value not exceeding Rs 5 crore.
Overseas, Asian stocks are trading mixed on Thursday as bills backing protesters in Hong Kong were signed into law by U.S. President Donald Trump on Wednesday.
Trump reportedly signed into law two bills backing protesters in Hong Kong. That move came despite past objections by China amid ongoing trade negotiations between Beijing and Washington for an anticipated phase one deal. Hong Kong's government on Thursday voiced strong opposition to the move, saying it will send the wrong signal to protesters.
US stocks edged up for a fourth straight day to score another round of records Wednesday, supported by rosier U.S. economic data and ongoing hopes for a U.S. - China trade deal.
U.S. financial markets will be closed Thursday for Thanksgiving Day and will have an abbreviated trading schedule on Friday.
In US economic data, a revised estimate of third-quarter GDP that showed the U.S. economy expanded at a 2.1% annual pace versus a previous estimate of 1.9%. The Federal Reserve's Beige Book reported U.S. businesses have seen continued growth in economic activity, wages and prices during recent weeks, and they maintain a generally positive outlook.
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