Live Nifty and Sensex 26-Aug-2016

Sensex, Nifty under pressure; Fed chief Yellen's speech eyed  
12:59 pm Market Update: Equity benchmarks remained under pressure as the Sensex was down 77.86 points at 27758.05 and the Nifty down 22.65 points at 8569.55. About 1422 shares declined against 963 advancing shares on the BSE.  

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12:40 pm Europe opens: European stocks opened slightly higher as investors stay sidelined amid continued debate among Federal Reserve officials over the timing of a US rate hike and ahead of a speech by the central bank's chair Janet Yellen later in the day. The pan-European STOXX 600 was up 0.16 percent.

12:35 pm Edelweiss on Mahanagar Gas: The Mumbai Metro Rail Corporation has inked agreements with 4 civil contractors, including J Kumar Infra, for 6 project packages. This will enable the contractors to claim mobilisation advances and start work post the monsoon season, says Edelweiss. This project comprises around 50 percent of the company's order book.

12:20 pm Market Outlook: The sharp rally in the market does cause jitters, given the state of expensive valuations, especially in the midcap space, but overall, markets are moving in the right direction, says Vikas Khemani, President and CEO of Edelweiss Securities.

Live Nifty Sensex Update

LIVE: Sensex jumps over 70 points, Nifty above 8,650; Idea Cellular down, Aurobindo Pharma gains  

9.25 am: Aurobindo Pharma shares were trading 3.71 per cent higher at Rs 763.60. Sensex was up 65.98  points at 28056.19. Nifty was trading 12.45 points up at 8645.05.

9.20 am: Idea Cellular shares were down 3.17 per cent at Rs 97.60. Shares of the Company jumped over 7 per cent on Tuesday after media reports that Idea Cellular is exploring options for strategic deal with Vodafone and the telecom major is talks with Vodafone for potential merger. However, Idea Cellular in a reply to BSE said, “We would like to inform that, the news item is absolutely untrue and preposterous.” 

 9.15 am: Sensex opened 75.04 points up at 28065.25, while Nifty opened 15.90 points up at 8648.50.  

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PRE-OPENING  

The BSE Sensex and NSE Nifty are likely to open lower on Wednesday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues. At 8 am (IST), SGX Nifty was trading 26.50 points down at 8,627.50. Asian peers were trading mixed in the morning trade. Hang Seng was down by 0.52 per cent at 22878, Shanghai and Nikkei were trading higher by 0.49 per cent and 0.01 per cent, respectively.  

Castrol Ltd, a unit of oil major BP Plc, is selling an up to $261 million stake in Castrol India Ltd in a block trade on Wednesday, according to a termsheet seen by Reuters. The BP unit is selling shares at between Rs 385 to Rs 415.5 apiece, the termsheet showed. Castrol India shares on Tuesday closed 0.14 per cent down at Rs 417.10.  

Aurobindo Pharma on Tuesday registered a 23.81 per cent increase in consolidated net profit at Rs 584.96 crore for the first quarter ended June 30, 2016 against net profit of Rs 472.45 crore in the corresponding quarter a year ago.