Sensex Up Over 100 Points, ICICI Bank, TCS Lead Gains

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10:08 a.m.: Capital goods stocks witness selling pressure. The BSE Capital Goods index declines 0.37 per cent; Larsen & Toubro Siemens, Thermax, Reliance Defence and Havells were among laggards.

10:01 a.m.: Market breadth was positive as 1,253 stocks were advancing while 528 were declining on the BSE.

9:54 a.m.: Indian Bank was the top gainer from the mid-cap space, up 5 per cent at Rs 228. MRPL, Biocon, OFSS, Blue Dart, Mphasis, JP Associates, Oberoi Realty and LIC Housing Finance were also among the gainers.

9:45 a.m.: Metal stocks which witnessed good buying interest in past few days were witnessing some amount of selling pressure on account of profit-booking. The BSE Metal index was down 0.23 per cent; Tata Steel and Hindalco were among the laggards.

9:40 a.m.: Stock markets came off the intraday high levels on the back of selling pressure in select metal and capital goods stocks. Sensex was up 102 points at 28,107 and Nifty was at 8,654, up 30 points.

9:25 a.m.: Sensex rose over 150 points while 50-share Nifty moved above its crucial psychological level of 8,650 on the back of gains in heavyweights such as ICICI Bank, Reliance Industries and TCS after US Fed minutes cooled rate hike views.

Federal Reserve policymakers agree that more economic data is needed before raising interest rates, although some see a need to tighten policy soon, according to the minutes from the U.S. central bank’s July 26-27 policy meeting.

Meanwhile, from Nifty basket of shares, 43 were advancing while 8 were declining.

Power Grid was top Nifty gainer; the stock advanced 2.32 per cent to Rs 178.70. Hero MotoCorp, ICICI Bank, Adani Ports, UltraTech Cement and Axis Bank were also among the top gainers.

On the other hand, Coal India, Wipro, L&T, Aurobindo Pharma, Hindustan Unilever and HDFC were among the notable laggards.

The broader markets were in-line with the benchmark indices. The BSE mid-cap index was up 0.38 per cent while small-cap index advanced 0.5 per cent.

8:00 a.m.: Sensex and Nifty are set to open higher tracking Nifty futures traded on the Singapore Stock Exchange.

The Nifty futures traded on the Singapore Exchange traded 0.25 per cent or 22 points higher at 8,651.

Meanwhile, Asian stocks edged up early on Thursday and the dollar fell after the Federal Reserve’s latest meeting minutes showed policymakers were in no hurry to add to U.S. borrowing costs.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent, thanks to hopes that the Fed’s accommodative stance – a major liquidity spigot for global markets – would continue a little longer than expected.

Overnight, U.S. stocks ended slightly higher on Wednesday after minutes from the Federal Reserve’s last policy meeting showed voting members divided over whether to raise interest rates soon.

While policymakers agree that more economic data is needed before raising rates, some expect a hike will be needed soon, according to the minutes from the U.S. central bank’s July 26-27 policy meeting.

The Dow Jones industrial average closed up 21.92 points, or 0.12 per cent, to 18,573.94, the S&P 500 had gained 4.07 points, or 0.19 per cent, to 2,182.22 and the Nasdaq Composite had added 1.55 points, or 0.03 per cent, to 5,228.66.

Back home, foreign institutional investors bought shares worth Rs 5 lakhs while domestic institutional investors sold shares worth Rs 89 crore on Wednesday.