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LIVE: Sensex gains over 200 points on positive European cues, Nifty above 8,210; MTNL soars

by June 23, 2016 General
Sensex, Nifty, BSE, NSE The BSE Sensex opened 12.45 points down at 26,753.20, while Nifty opened 2.55 points down at 8,201.15. (Reuters)

2.54 pm: Benchmark indices BSE Sensex and NSE Nifty added gains and were hovering near the highest point of the day in the late afternoon session on account of buying in frontline blue chip counters taking cues from the European markets. Investors maintained a cautious approach ahead of Brexit votes as polls showed the outcome of a UK referendum on whether to leave the European Union remained too close. Sensex was trading 232.85 points, or 0.87 per cent, up at 26,998.50. Nifty was up 69.90 points at 8273.60.

2.35 pm: Meanwhile, Sensex surged over 200 points in the afternoon trade.

2.20 pm: Drug Controller General of India (DCGI) has given nod to Biocon and its partner Quark Pharmaceuticals to proceed with clinical trials on human subjects for a new drug candidate, ‘QPI-1007’ aimed for ocular neuroprotection. The company and Quark Pharmaceuticals have also randomised the first patient in India in the global Phase II/III study of the new drug candidate. Randomisation is the allocation of subjects to treatment groups to prevent selection and accidental bias. Shares of Biocon were trading 0.39 per cent up at Rs 718. Sensex was up 88 points at 26,854.

1.23 pm: MTNL shares soared nearly nearly 9 per cent on Thursday after the state-run telecom firm said it will submit its revival plan to the Department of Telecommunications (DoT) by August this year which aims to bring the loss making public sector undertaking (PSU) out of the red. Read more

Sensex was up 37 points at 26803. Nifty was trading 6.85 points up at 8,210.

12.44 pm: Benchmark indices BSE Sensex was trading 74.27 points up at 26,840 after the European markets opened in green. Nifty was up 14.60 points at 8,218.

12.41 pm: Reliance Power has received a show-cause notice from Union ministry of coal (MoC) for the delay in developing coal blocks associated with its 4,000-Mw Ultra Mega Power Project (UMPP) at Tilaiya in Jharkhand.  According to the notice, Reliance Power and its subsidiary Jharkhand Integrated Power (JIPL) cannot be absolved of their responsibility of paying for damages for non-achievement of milestones set for the development of the Kerandari B & C coal blocks. Shares of Reliance Power were trading 0.88 per cent down at Rs 50.85.

12.34 pm: European markets opened in green. FTSE and DAX were trading up by over 0.60 per cent each.

12.18 pm: Nifty was trading 4.80 points down at 8,198. Read more: Spicejet shares soared over 250% in 1 year; what’s in store

12.05 pm: KEC International was trading 4.78 per cent up at Rs 140.25. KEC International (KEC), a global infrastructure EPC major, an RPG Group Company has secured new orders worth Rs 1,036 crore. In the transmission and distribution (T&D) segment, the company has secured orders worth Rs 666 crore in Middle East and Americas. It has bagged an order of Rs 582 crore from Abu Dhabi Transmission and Dispatch Company for supply and construction of 400 kV Transmission Line from Barakah Switchyard to Madinat Zayed Grid Substation in Abu Dhabi.

11.50 am: Meanwhile, Voting started on Thursday in a historic referendum on whether the UK should remain within the 28-nation European Union or leave with opinion polls showing a very tight race that could go either way.

Read more: If Brexit happens, Pound and Euro will fall further

10.54 am: Sensex was trading 5.77 points down at 26,759. In the 30-share index, Sun Pharma, Tata Motors, Dr Reddy’s Labs and Lupin were up over 1 per cent. On the other hand, NTPC, Cipla, ONGC and Power Grid were down by over a percentage point.

Read more: Tata Motors, Motherson Sumi among companies that could be hit if Brexit happens

10.14 am: Sensex was trading 6.89 points down at 26,758.76. Traders said selective buying in line with a slightly better trend in other Asian markets in thin trading, just hours before the start of Britain’s referendum on its futures in the European Union, influenced trading sentiment here.

9.54 am: Max Ventures and Industries hit upper circuit on Thursday for the second trading session after the listing on bourses on Wednesday. Read more

9.31 am: Rupee appreciated 15 paise to 67.33 against the US dollar in early trade today on increased selling of the American currency by bankers and exporters. Read more: Indian rupee could see depreciation of upto 3 per cent

9.18 am: The 30-share index was up 39.16 points at 26,804. Jain Irrigation was trading 9.47 per cent up at Rs 47.95.

9.15 am: The BSE Sensex opened 12.45 points down at 26,753.20, while Nifty opened 2.55 points down at 8,201.15.

8.12 am: The BSE Sensex and NSE Nifty are likely to open on flat-to-cautious note on Thursday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.

At 7.49 am (IST), SGX Nifty was up 6 points at 8,210.

Asian shares edged up and sterling stood close to its peak for the year on Thursday, as investors were cautiously optimistic that British voters would opt to remain in the European Union at a referendum later in the session.

US stocks gave up morning gains and closed lower on Wednesday. The Dow Jones industrial average fell 48.9 points, or 0.27 per cent, to 17,780.83, the S&P 500 lost 3.45 points, or 0.17 per cent, to 2,085.45 and the Nasdaq Composite dropped 10.44 points, or 0.22 per cent, to 4,833.32.

Back home, equities fell for a second straight session on Wednesday as the BSE Sensex tumbled by 47 points despite a positive start, as investors remained on the sidelines, tracking cautious mood overseas, a day ahead of ‘Brexit’ vote.

Sebi and stock exchanges have beefed up their surveillance mechanism to deal with any excessive volatility in the run up to the ‘Brexit’ referendum whose outcome is keenly awaited by the investors.

The initial share sale of country’s second largest CNG retailer Mahanagar Gas continued to witness strong investor response with the issue getting oversubscribed 3.92 times on the second day of the three-day offering.

(With agency inputs)