MARKETS: Sensex up 100 pts, Nifty up 17,900; Zomato wins 2%, ITC 1%

Opening bell

LIVE Market Updates: Frontline indices started rising on Dalal Street on Thursday amid gains in PSU Bank, FMCG and Metals stocks.

The S&P BSE Sensex added 76 points, or 0.13%, to quote at 60,084 levels in early trades while the Nifty50 hovered around 17,900 marks. In the larger markets, the BSE SmallCap index extended its outperformance on the third day, up 0.32%.

Among the individual actions, TIC rose 1% and was the best performer in the Sensex index, followed by SBI, Asian Paints, Power Grid and Titan Company. On the downside, M&M was the biggest laggard, down 1.2%.

Actions of Vedanta, meanwhile, slipped about 2% on the Nifty on profit reservation after the company said it appointed a board of directors to assess and recommend a range of options and alternatives, including spin-offs, spin-offs or strategic partnerships of its aluminum, iron & steel and oil and gas companies.

In the wider market space, the shares of Zomato grew by more than 2 percent as it completed the closure of its UK subsidiary, Zomato UK. Additionally, according to reports, the food delivery company is in talks to invest up to $ 500 million in Grofers.

Phoenix Mills Shares also jumped 2 percent after the Canada Pension Plan Investment Board (CPPIB) completed its first tranche of investment worth Rs 787 crore in the company’s subsidiary.

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Pre-opening session

LIVE Market Updates:

BSE Sensex lost 39 points in pre-opened trades at 59,969 levels. The Nifty50, meanwhile, lost 8 points to 17,890.

Britannia Industries, Asian Paints, Hindalco and Adani Ports are Nifty’s main actions in the pre-opening agreements.

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Updated at 8:15 a.m.

LIVE Market Updates: In the absence of triggers, national stocks should trade sideways and follow global signals for further moves. All eyes, however, will be on Paytm and Sapphire Foods’ list today.

At 8:05 am SGX Nifty was at 17,877, down 7 points.

Primary market update

Go Fashion (India) IPO was underwritten 2.5 times at the end of day 1. The retail quota received bids 12.1 times.

Meanwhile, Tarsons Products’ 1,024 crore IPO was underwritten 77.5 times at close following strong demand from institutions and HNIs.

Global indices

US markets ended lower on Wednesday amid fears of a possible anticipated rate hike by the Federal Reserve. The Dow Jones lost 0.6%, while the Nasdaq and S&P 500 fell 0.3% each.

In Asia, Nikkei and Hang Seng were down 0.5% and 1%, respectively, while Shanghai Composite was up 0.4%. Kospi and Straits Times fell 0.5% and 0.2% respectively. Taiwan, however, was up 0.2 percent.

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