Live: Sensex gains for fourth straight session, up 70 points; IT stocks rise

Building on gains for the fourth straight session, the benchmark Sensex rallied over 50 points to 28,658.01 and the NSE Nifty again went past the 8,800-mark in early trade on Monday on sustained buying by participants tracking positive Asian indices.

The 30-share index traded higher led by oil & gas, PSU, banking, consumer durables, realty, healthcare and FMCG, rising by up to 0.66%. The NSE Nifty was quoting higher by 25.35 points or 0.29%, at 8,805.20. Brokers said a better trend on other Asian bourses ahead of central bank meetings in the US and Japan this week, influenced trading sentiments here.

Here are the updates:

2:30pm: BSE Sensex gains 69.34 points, or 0.24%, to 28,668.37, while the Nifty rises 38.45 points, or 0.44%, to 8,818.30.

2:25pm: Hero Group stocks are trading higher on the back of higher volumes. Munjal Auto Industries Ltd rises 13.1%, Munjal Showa Ltd rises 6.4%, Majestic Auto Ltd rises 8.6%, Shivam Autotech Ltd rises 4%.

2:20pm: IT stocks are trading higher. TCS up 2.3%, Infosys Ltd rises 0.7%, HCL Technologies Ltd rises 0.8%, Tech Mahindra Ltd rises 1.4%, Wipro Ltd rises 0.1%.

2:15pm: United Breweries Ltd rises 6.5% to Rs.881.85. In last one month the stock gained 13%. On 16 September, Heineken International BV has bought 1.85 million shares in the company from Yes Bank at an average price of Rs.819.50 a share via bulk deal.

2:10pm: Fertiliser stocks are trading higher. Khaitan Chemicals & Fertisizers Ltd rises 8%, Teesta Agro Industries Ltd rises 5%, Zuari Agro Chemicals Ltd rises 2.6%, Gujarat Narmada Valley Fertilizers & Chemicals Ltd rises 2.2%, National Fertilizers Ltd rises 1.2%.

2:00pm: Sharp India Ltd rises 20% to Rs.68.40 after the company said in a notice to BSE that it is seeking panel to give recommendation on offer from its parent company.

1:50pm: Gujarat Alkalies & Chemicals Ltd rises 2.6% to Rs.333.30 after the company said it is in pact with Chematur Engineering Sweden for forming 14000 mtpa H202 plant.

1:40pm: Max Financial Services Ltd fell 3% to Rs.572.25. According to news report Goldman Sachs was looking to sell 15% of its stake in the company for Rs.2,400 crore via secondary market trades.

1:30pm: BSE Sensex gains 70.41 points, or 0.25%, to 28,669.44, while the Nifty rises 32.45 points, or 0.37%, to 8,812.30.

1:20pm: CMI FPE Ltd rises 4% to Rs.388 after the company said at Metal, Tata Metal, one of Turkey’s leading flat steel producers, has chosen CMI Industry Metals to supply their new state-of-the-art hot-dip galvanizing line.

1:10pm: PSU Banks are trading higher. Oriental Bank of Commerce rises 1.4%, Bank of Baroda rises 1.2%, Canara Bank rises 1.2%, Union Bank of India 1.2%, State Bank of India 1.1%, Andhra Bank 1%, Syndicate Bank 0.9%, Bank of India 0.8%, Allahabad Bank 0.7%.

1:00pm: MBL Infrastructure Ltd rises 5% to Rs.117.15. The stock hit upper circuit for the ninth consecutive sessions and gained 86% in this period. So far this year it gained 48.5%.

12:50pm: J Kumar Infraprojects Ltd rises 5% to Rs.187.80. The stock gained 65.7% in last one month and fell 50% so far this year.

12:40pm: ICICI Bank Ltd rises 1.1% to Rs.270.55. ICICI Prudential Life Insurance Co. Ltd’s Rs.6,000-crore new share sale opens on Monday. The price band of Rs.300-334 per share values the firm at Rs.47,957 crore at the upper end.

12:30pm: BSE Sensex gains 62.55 points, or 0.22%, to 28,661.58, while the Nifty rises 26.65 points, or 0.30%, to 8,806.50.

12:20pm: Fiberweb India Ltd rises 5% to Rs.104.80 after the company said in a notice to BSE that it won order worth Rs.18.10 crore.

12:10pm: Metal stocks are trading higher. National Aluminum Co rises 1.8%, JSW Steel 1.6%, Hindustan Zinc 1.6%, Jindal Steel & Power rises 1.5%, Steel Authority Of India 1.3%, Vedanta Ltd 1%, Coal India 1%, NMDC 0.8%, Tata Steel Ltd 0.8%.

12:00pm: Reliance Capital Ltd rises 2.5% to Rs.268. The stock gained 37.5% in last one month. So far this year it gained 29.8%.

11:50am: Sugar stocks are trading higher. Balrampur Chini rises 4.3%, Shree Renuka Sugars 4%, Dwarikesh Sugar Industries rises 4%, Bajaj Hindusthan Sugar rises 4%, Dalmia Bharat Sugar and Industries Ltd rises 12%, Dhampur Sugar Mills rises 4%, Mawana Sugars Ltd rises 10%.

11:40am: Jaypee Group stocks are trading higher. Jaiprkash Associates Ltd rises 1.8%, Jaypee Infratech rises 2.4%, Jaiprakash Power Ventures Ltd rises 1.1%.

11:30am: Anil Ambani Group stocks are trading higher. Reliance Infrastructure Ltd rises 2%, Reliance Capital Ltd rises 2.9%, Reliance Communications Ltd rises 1.7%, Reliance Defence and Engineering Ltd rises 2.8%.

11:20am: BSE Sensex gains 96.37 points, or 0.34%, to 28,695.40, while the Nifty rises 35.35 points, or 0.40%, to 8,815.20.

11:10am: NHC Foods Ltd rises 14% to Rs.21.2 after the company said in a notice to BSE that Malaysia based MAP Enterprises; leading importer of seed spices is in talks with NHC Foods Limited, a two star export house and manufacturer of the spices under the brand SAAZ Masala in picking a stake in the company.

11:00am: Raymond Ltd rises 7% to Rs.510.05. The stock gained 12 out of 14 trading sessions and rose 26.7% in this period.

10:50am: South Indian Projects Ltd rises 13% to Rs.149 after the company said in a notice to BSE that it has entered into contract worth €180,000 with PrexensSas, a Company incorporated in France to provide its services related to software development.

10:40am: Petron Engineering Construction Ltd rises 7% to Rs.168.25 after the company said in a notice to BSE that it won order worth Rs.50 crore from Shree Cement for civil work at their cement plants at Aurangabad, Bihar and at Gulbarga, Karnataka.

10:30am: Brigade Enterprise Ltd rises 3% to Rs.179.05 after the company said its arm has entered in to a Joint Development Agreement with Cornerstone Bay East Developers Private Limited (Land Owner) to develop 47 acres at Varthur and Gunjur, Off Whitefield region, Bangalore which will have a developable area of around 5 million sq. ft.

10:20am: Vipul Ltd rises 10% to Rs.82.10 after the company said in a notice to BSE that it received environmental clearance from state environment impact assessment authority Haryana for its project Aarohan on Golf Course road in Gurgaon.

10:10am: The 30-share S&P BSE Sensex is currently trading higher by 58.98 points, or 0.21%, to 28,658.01, while the Nifty 50 of the National Stock Exchange (NSE) rises 25.35 points, or 0.29%, to 8,805.20.

10:00am: Heritage Foods Ltd rises 7.2% to Rs.877.60. According to ET, Future Group is in advanced talks to acquire the retail business of Heritage Foods, a deal that would give Kishore Biyani sway over a network of more than 100 grocery outlets in Hyderabad, Chennai and Bengaluru.

9:55am: Infosys Ltd falls 1.3% to Rs.1,046.20 after CNBC TV reported that the company may cut its FY17 guidance. The company will meet on 14 October to consider its September quarter earnings and also will comment on business outlook.

9:45am: The Indian rupee on Monday strengthens marginally against the US dollar at 66.94 per dollar, up 0.07% from its previous close of 66.99, tracking the gains in the Asian currencies markets.

9:35am: The 10-year bond yield stood at 6.867% compared to its Friday’s close of 6.868%.

9:25am: The dollar index, which measures the greenback against a basket of six currencies, dips 0.2% to 95.901. The euro is just above a 10-day low at $1.1164, while sterling inches up from a one-month low to $1.3033 after suffering jitters on plans to leave the European Union.

9:20am: Brent crude rises 82 cents to $46.59 a barrel, while US crude adds 84 cents to $43.87.

9:10am: MSCI’s broadest index of Asia-Pacific shares outside Japan gains 0.8%, though that remained well short of recent one-year peaks. Shanghai puts on 0.6%, while South Korea adds 0.6%. Liquidity was lacking with Tokyo closed for a holiday.

9:00am: Asian shares advanced on Monday ahead of central bank meetings in the United States and Japan this week, while oil prices bounced on talk of an OPEC deal on output and reports of fighting around Libyan oil ports.

8:50am: The Dow Jones industrial average fell 88.68 points, or 0.49%, to close at 18,123.8, the S&P 500 lost 8.1 points, or 0.38%, to end at 2,139.16 and the Nasdaq Composite dropped 5.12 points, or 0.1%, to finish at 5,244.57.