Indian shares rose on Thursday, mirroring a firm trend across Asia as cooling Chinese consumer price inflation increased hopes for more policy easing. Closer home, investors await June industrial output data for directional cues.
The benchmark 30-share Sensex is currently up 78 points or 0.42 percent at 17,674, while the broader Nifty index is at 5,358, up 20 points or 0.38 percent from its previous close.
The BSE mid-cap and small-cap indexes are gaining about 0.3 percent each and the market breadth is fairly positive, with gaining shares outpacing declining ones by 1045 to 796 shares on the BSE.
M&M is gaining 3.3 percent, extending the previous session's 4 percent rally on solid Q1 results. Oil India is moving up 0.4 percent after the state-run firm reported a 9.5 percent drop in first-quarter net profit due to higher crude and gas price realizations.
Tata Motors, Tech Mahindra and Ranbaxy Laboratories are gaining between 0.9 percent and 1.4 percent ahead of their quarterly results today. Jaypee Infratech is moving up 1.4 percent ahead of the formal inauguration of its 165-km Yamuna Expressway today.
Tata Power is rising 0.7 percent even as its quarterly profit plunged 66 percent from a year earlier, hurt by high interest costs and foreign exchange loss. Bombay Burmah Trading Corporation is moving up 0.6 percent after its board approved a 5-for-1 stock split.
Bharti Airtel is tumbling 4 percent, extending the previous session's slump after the telecom major reported its 10th straight quarter of profit decline.
GVK Power and Infrastructure is down 0.9 percent after the infrastructure firm reported a higher-than-expected consolidated net loss of Rs.64.3 crore for the quarter ended June, largely due to higher interest costs and tax expenses.
Sangam Advisors is trading at Rs.22.10 on its debut, just a tad higher compared to its initial public offering price of Rs.22 a share. Thermax is little changed after dissolving its joint venture firm Thermax Energy Performance Services pursuant to the order passed by the Mumbai High Court.
SAIL, Sun TV Network and Tata Global Beverages are down about a percent each on going ex-dividend. Cairn India is losing 2.6 percent after its Managing Director and CEO Rahul Dhir decided to step down from his post to pursue his entrepreneurial interests.
Tata Steel is declining 1.2 percent after Moody's downgraded the rating of its U.K. unit by one notch. Pantaloon Retail is down 2.7 percent on disappointing earnings results.
Indian shares pared early gains to end little changed on Wednesday, as gains in heavyweight stocks such as Reliance Industries and Infosys offset a sharp fall in Bharti Airtel after the telecom major posted its 10th straight quarter of profit decline. The benchmark 30-share BSE Sensex ended the session down 1 point or 0.01 percent at 17,601, while the broader Nifty index ended up 1 point or 0.02 percent at 5,338.
by RTT Staff Writer
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