Mumbai: Indian shares rose on Monday as auto makers such as Maruti Suzuki Ltd gained after an increase in the goods and services tax (GST) was less wide-ranging than expected, with sentiment also supported by higher Asian markets.

Investors in Asia reacted with relief after North Korea did not conduct another missile test this weekend, when it celebrated its founding anniversary. Still, sentiment was broadly cautious after indices posted their first weekly fall in four, last week, as investors monitored global risk factors and awaited consumer inflation data due on Tuesday.

India’s retail inflation is expected to have picked up to a five-month high of 3.20% in August, largely driven by higher food costs, a Reuters poll showed on Monday, potentially reducing the scope of further rate cuts by the Reserve Bank of India (RBI). Here are the latest updates and developments from the markets:

■ 3.33pm: BSE Sensex closes higher by 195 points, or 0.61%, to 31,882, while the Nifty 50 rises 71 points, or 0.72%, to close at 10,006.

■ 2.45pm: BSE Sensex trades higher by 234 points, or 0.74%, to 31,922, while the Nifty 50 rises 88 points, or 0.88%, to 10,023.

■ 2.40pm: Lupin Ltd has received final approval from the US Food and Drug Administration for its infection treatment drug, Doxycycline Hyclate Tablet USP 100mg, the company said in a BSE filing on Monday. Lupin shares are trading higher at Rs9.25, or 0.96%, at Rs977.40 apiece on the BSE.

■ 1.35pm: BSE Sensex trades higher by 206 points, or 0.65%, to 31,894, while the Nifty 50 rises 77 points, or 0.78%, to 10,012. L&T, HDFC Bank and Maruti Suzuki are the top gainers with gains to the tune of 2.69%, 1.79% and 1.75%, respectively.

■ 1.25pm: Panacea Biotec Ltd said it has signed an agreement with Canada’s Apotex Inc. to launch Prasugrel 5mg and 10mg tablets, used for the treatment of certain coronary diseases, in the US. Panacea shares rose by Rs27.75, or 12.63%, to Rs247.40 apiece on BSE. The stock hit a new 52-week high of Rs254 per share after the announcement.

■ 12.33pm: BSE Sensex trades higher by 207 points, or 0.65%, to 31,894, while the Nifty 50 rises 72 points, or 0.72%, to 10,007.

■ 12.30pm: IndusInd Bank Ltd rises 5.5% while Bharat Financial Inclusion Ltd adds 4.3% to Rs976.50. Bharat Financial Inclusion Ltd, India’s first listed micro lender, on Monday said it is in a pact with IndusInd Bank Ltd for exploring a merger.

■ 11:50am: NSE Nifty jumps 75 points, or 0.76%, to hit 10,010, while BSE Sensex surges by 223 points, or 0.70%, to 31,911.

■ 10.25am: BSE Sensex jumps by 171 points, or 0.54%, to 31,858, while the Nifty 50 rises 51 points, or 0.51%, to 9,985.

■ 10.20am: Most of the indices on BSE are trading higher with S&P capital goods index up 1.91% and the BSE S&P industrials index up 1.28%. Only the BSE S&P telecom index is trading in negative at 0.41%.

■ 9.35am: BSE Sensex trades higher by 149 points, or 0.47%, to 31,836, while the Nifty 50 rises 49 points, or 0.49%, to 9,983.

■ 9.33am: Maruti Suzuki India Ltd hits Rs8,000 mark for the first time. The stock was trading at Rs8,035 on BSE, up 1% from previous close. So far this year, it has gained nearly 50%.

■ 9.30am: Bharat Financial Inclusion Ltd rises 1.5%, while IndusInd Bank is up 1.2% after the company confirmed that it is in pact with IndusInd Bank for exploring a merger.

■ 9.27am: Larsen & Toubro Ltd extended its gains for second session to Rs1,195, up 2% from its previous close, on hopes of large defence orders from the government.

■ 9.25am: Religare Enterprises Ltd rises 5% to Rs42.40. Religare Enterprise sold its entire stake in Cerestra Advisors to a team led by the managing partner of the firm that manages its Rs600 crore private equity fund, for Rs5.73 crore

■ 9.20am: The rupee opens at 63.88 a dollar. At 9.15am, the rupee was trading at 63.85 a dollar, down 0.09% from its Friday’s close of 63.79.

■ 9.15am: The 10-year bond yield is at 6.551% compared to its previous close of 6.543%. Bond yields and prices move in opposite directions.

■ 9.10am: Asian currencies are trading lower as dollar weakened on hurricane Irma’s force warned and the UN prepared to vote on tougher North Korean sanctions. Japanese yen is down 0.5%, China offshore 0.29%, China renminbi 0.14%, Malaysian ringgit 0.1%, Philippines peso 0.07% and Singapore dollar 0.06%. However, Indonesian rupiah is up 0.29% and Thai baht 0.05%. The dollar index, which measures the US currency’s strength against major currencies, is trading at 91.5, up 0.16% from its previous close of 91.352.

Source:livemint.com