The S&P BSE Sensex regained lost ground and turned
positive after falling over 100 points in mid-morning trade after the US govt
set in motion the first government shutdown for the first time in 17 years.
Both leaders of the House and Senate acknowledged there
would not be a resolution in time to stop a shutdown, as flurry of last-minute
moves by the House, Senate and White House failed to break a bitter budget
standoff over President Barack Obama's health care law.
The S&P BSE Sensex quickly pared opening gains and
plunged over 100 points in mid-morning trade but soon regained lost ground and
turned positive, led by gains in HDFC Bank, ICICI Bank and TCS.
At 10:15 AM: The 50-share index was at 5,752.85, up 17
points or 0.3 per cent. It touched a high of 5,762.40 and a low of 5,700.95 in
early trade today.
The S&P BSE Sensex was trading at 19,442.32, up 62
points or 0.3 per cent. It touched a high of 19,466.18 and a low of 19,264.72
in trade today.
The S&P BSE Midcap Index was up 0.22 per cent and BSE
S&P Small cap Index edged higher by 0.55 per cent.
Among the sectoral indices, the BSE Banking Index was up
1.01 per cent, followed by the S&P BSE Auto Index which gained 0.74 per
cent and the S&P BSE Capital Goods Index rose 0.81 per cent.
The BSE Metal index was trading 1.1 per cent lower, followed
by the BSE PSU index which slipped 0.55 per cent, the BSE oil & Gas index
plunged 0.38 per cent and the BSE FMCG index was trading 0.36 per cent lower.
BHEL (4.3 per cent), DRL (1.6 per cent), Maruti Suzuki (3
per cent), SBI (1.2 per cent) and HDFC Bank (1.08 per cent) were among the
major Sensex gainers.
Sesa Goa (2.6 per cent), NTPC (2.09 per cent), Jindal Steel
(1.8 per cent), ONGC (2.1 per cent) and Tata Power (1.9 per cent) were among
the index losers.
♦Reliance Industries Ltd:
The Supreme Court today issued notice to Centre, Reliance
IndustriesBSE 0.24 % Ltd (RIL) and others on a PIL seeking cancellation of
contract for exploration of oil and gas concerning the KG block and to impose
penalty for failure in adhering to commitments.
♦MRF Ltd:
Even with the on-going turmoil over the bifurcation of
Andhra Pradesh, India's leading tyre maker MRF said it will invest about Rs
1,000 crore to double its capacity at a facility located near Hyderabad.
♦
Infosys Ltd:
India's second largest software services exporter, and
software giant IBM have won a 300 million euro (about Rs 2,535 crore) contract
to develop the computer system for the UK-based bank Williams & Glyn's.
♦
Electrosteel Steel Ltd:
A part of Electrosteel Castings, a leading producer of
ductile iron pipes used for water transportation, has received a nod from the
Corporate Debt Restructuring (CDR) cell for its proposed Rs 6,181 crore CDR
package.
♦
Siemens Ltd:
Siemens Ltd in consortia with Siemens AG has bagged an order
from Rashtriya Ispat Nigam Ltd to modernise its blast furnace at the
Visakhapatnam Steel Plant.
♦
Berger Paints India Ltd:
The paint company is looking to reposition its products
following the acquisition of Sherwin Williams' decorative paints business in
India, to avoid competition within the group. In the changed scheme of things,
Sherwin will primarily cater to the premium paints segment.
♦
Hexaware Technologies Ltd:
A slew of top executives at Hexaware Technologies have sold
shares in the company in the recent days. Even as some analysts read it as a
sign of impending management changes, the IT service provider whose promoters
are selling their holding to Barings Asia Private Equity said no such changes
are planned.
♦
Apollo Tyre Ltd:
US-based Cooper Tire & Rubber Co today said shareholders
approved its sale to Apollo Tyres Ltd, clearing the decks for the $2.5 billion
transaction billed as one of the largest US acquisitions by an Indian firm.
♦
Tata Communications Ltd:
Tata CommunicationsBSE 5.08 % Ltd. said on Monday it has
entered into discussions with Vodacom SA to sell its stake in South African fixed-line
telephone operator Neotel.
♦
BPCL (BSE -1.95 %), HPCL (BSE -0.94 %), and IOC:
State run oil marketing companies will be in focus. Petrol
price was on Monday cut by Rs 3.05 per litre, the first reduction in rates in
over five months and the steepest in over five years, while diesel prices were
raised by 50 paise a litre.
