Markets live: Sensex, Nifty open higher, Max Financial shares fall 4%

By Rob 0

Mumbai: The BSE Sensex opens higher on Friday morning. The broader Nifty, too, rises in the opening hours. The Indian rupee trades lower against the US dollar. The Asian currencies trade higher. The shares of sugar companies edge up, while those of Max Financial Services fall. The shares of Dhampur Sugar Mills Ltd rise 8% and Radico Khaitan Ltd shares rise 7%.

9.30am: BSE Sensex trades higher by 75 points, or 0.25%, to 29,497, while the Nifty 50 rises 29 points, or 0.32%, to 9,165.

9.27am: Max Financial Services Ltd fell 4% to Rs626 after huge block deal. Around 4.86% stake or 13 million shares of the company changed hands in two block deals, according to Bloomberg. However, buyers and sellers were not known.

9.25am: Sun Pharmaceuticals Industries Ltd fell 1% to Rs648.70. The USFDA noted incomplete laboratory records among the 11 observations of potential manufacturing violations it made during an inspection of Sun Pharmaceutical’s Dadra unit this month, according to an inspection report obtained by Bloomberg News.

9.20am: Sugar stocks trading higher after the Uttar Pradesh government today asked sugar mills to clear cane dues of farmers within next 14 days while assuring their delegation that it will give all facilities to establish new mills in the state.

9.15am: The rupee was trading at 64.64, down 0.11% from its Thursday’s close of 64.56. Year to date, it gained 5.2%.

9.10am: The 10-year bond yield was trading at 6.876% compared to its previous close of 6.877%. Bond yields and prices move in opposite directions.

9.05am: Taiwan dollar was up 0.2%, South Korean won 0.17%, Malaysian ringgit 0.13%, Japanese yen 0.11%, China Offshore 0.07%, China Renminbi 0.05%. However, Thai Baht was down 0.07%.

9.00am: Asian markets opened higher, helped by optimism about earnings and US tax reform. Overnight, the US markets closed with gains. S&P 500 at 2,355 points is up 0.76%.

First Published: Fri, Apr 21 2017. 09 39 AM IST

[Source: livemint.com]