Free Nifty Options Tips
Sensex rises 100 points; Nifty above 10K; Lupin, Infosys top gainers
Benchmark indices opened on a positive note on Tuesday, amid lack of directional cues from global markets. Asian markets ticked higher in cautious trade as geopolitical tensions eased a bit as North Korea on the anniversary of the founding Communist Worker’s Party and the Kim dynasty of rulers not conducting another missile test, as was feared.
At 9.25 am, the BSE Sensex was trading 91.97 points, or 0.29 per cent, higher at 31,938. The Nifty50 was ruling at 10,017.30, up 28.55 points, or 0.29 per cent.
"We still believe that one should avoid aggressive longs in the index at this juncture and should rather focus on individual stocks that are offering trading opportunities in both directions. For the coming session, 10,015-10,043 would be seen as immediate hurdles; whereas, on the lower side, any sustainable move below 9,959 would result into some weakness towards 9,930 – 9,880 levels," Angel Broking said in a note.
Among Sensex stocks, Lupin BSE 2.31 % gained 2.53 per cent to Rs 1,066.10. The drugmaker has received final approval for its Nadolol tablets from USFDA, which is a generic version of US WorldMeds' Cogard. The drug is used for treatment of hypertension, in the American market.
Infosys BSE 1.51 % rose 1.11 per cent to Rs 933.90 after shareholders overwhelmingly backed the return of Nandan Nilekani in postal ballot. The shareholders voted in favour of the appointment of Nandan Nilekani as non-executive chairman of the company , the results of the postal ballot showed.
Cipla BSE 0.95 % advanced 1.03 per cent to Rs 591.50. Larsen & Toubro rose 0.96 epr cent to Rs 1156.90. The infrastructure major has won half of the government's order to supply 5 million smart metres for its energy efficiency programme, according to a top executive of Energy Efficiency Services Limited (EESL), the company that conducted the tender.
Adani Ports, HDFC and Bajaj Auto BSE -0.18 % declined up to 0.65 per cent.
Meanwhile, Asian shares rose in early trade ahead of US Fed minutes of recent policy meet on Wednesday.
On the IPO front, the Rs 1,001 crore initial public offering (IPO) by India's leading power trading platform Indian Energy Exchange (IEX) was subscribed 15 per cent on the Day 1 of bidding process.
The initial share sale offer of MAS Financial Services, on the other hand, was oversubscribed 4.81 times on the second day of subscription. The IPO, to raise Rs 460 crore, received bids for 3,42,91,872 shares as compared to the total issue size of 71,24,910 shares, as per NSE data.
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