Sensex Today: Sensex closes 157 points higher, Nifty at 11,847; Reliance Infra top gainer

Asian stocks slipped on Wednesday and the dollar pulled back from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing.

On Tuesday, Foreign institutional investors bought equity worth Rs 1,157.87crore, while domestic institutional investors bought shares to the tune of Rs 377.22 crore, provisional data available with stock exchanges showed.

U.S. crude oil futures advanced nearly 2% to touch a four-week high of $59.03 per barrel after data showed a decline in U.S. crude stocks.

30 share Sensex is trading at 39,379.13, down by 55 points, while Nifty50 index is trading at a loss of 28 points to 11,768.

On the currency front, Indian Rupee opened lower at 69.40 against the dollar. On Tuesday, the rupee settled at 69.34/$. Indian rupee, later depreciated 10 paise to 69.46 against the US dollar.

Top gainers in today's early session are NTPC, Power Grid, Sun Pharma, ONGC and M&M, while worst performers in th emorning session are BPCL, Indiabulls Housing Finance, IOC, JSW Steel and HDFC.

Shares of Dewan Housing Finance Corporation (DHFL) slipped nearly 9 % in early trade on Wednesday after the Indian mortgage lender defaulted payment towards maturity of commercial papers (CP).


The stock of DHFL opened with a gap down chart pattern on the BSE exchange platform today, at a loss of 6.23% to Rs 70.70.

Crude continues to move higher amid trade tensions. Brent crude is trading back over $66/ bbl, with a gain of 1.51%.

Atlas Cycle share price has risen almost 5% intraday today, ahead of its Q4 results announcement, scheduled today as per company's latest announcements.The share price of Atlas Cycle opened with a gap up chart pattern at a gain of 4.92% to Rs 41.60, also the intraday high of the stock, with only buyers bids. The stock has risen over 20% in the last 4 days. The stock currently trades at the day's high of Rs 41.60, up 4.92%, at an traded volume of 2.67 lakh shares.

Reliance Infra shares rose over 10% today, after the infrastructure company announced that it has bagged one of the largest EPC contracts from Maharashtra State Road Development Corporation (MSRDC), the prestigious Rs 7,000 crore Versova-Bandra Sea Link Project (VBSL) in Mumbai.

"VBSL is a marquee project with a length of 17.17 km, which is three times the length of the Bandra-Worli Sea Link of 5.6 km," the filing submitted stated.

The filing further added that the infrastructure giant is fully geared to deliver the project in 60 months from the Appointed Date of June 24, 2019 as per the contract.

Federal Reserve officials on Tuesday pushed back on market expectations and presidential pressure for the central bank to deliver a significant U.S. interest rate cut of half a percentage point as soon as its next meeting.St. Louis Federal Reserve Bank President James Bullard on Tuesday said he does not think the U.S. economic situation is dire enough to warrant cutting rates by a half-percentage point at its next meeting in July, even though he pushed to lower rates last week.

Edelweiss Financial Services announced in its regulatory filing that ICRA Limited has re-affirmed the credit rating of [ICRA]Al + assigned to the Commercial Paper programme of Rs 6,350 cr and Short-term Nonconvertible Debenture Programme of Rs. 100 cr of the company. While, the rating of [ICRA]AA on Non-convertible Debentures Programme of Rs. 466 crores of the company now stands as [ICRA]AA-

Rating of [ICRA]AA-indicates high degree of safety regarding timely payment of financial obligations carrying very low credit risk.

The filing further added that the company does not have any outstanding amount against above rated debt instruments.

The ED has attached assets worth over Rs 9,000 crore in connection with its money laundering probe against Gujarat-based pharmaceutical firm Sterling Biotech, which is allegedly involved in a multi-crore bank fraud case, officials said Wednesday.
(PTI)

HSBC issues notice to IL&FS transportation for payment of RMB (Chinese yuan) 1,000,000,000 against Guaranteed notes due for payment.

Indian Rupee rose in the afternoon trading session as the Dollar comes under pressure

Rupee has currently recovered more than 10 paise from today's opening.