Some profit-taking was seen in IT and banking stocks. Midcap stocks rebounded today with the BSE midcap index up around 0.65%.

Indian markets wobbled in early trade today with Sensex and Nifty trading flat. Metal stocks were in the limelight with the sectoral index on the NSE up around 0.50%. Some profit-taking was seen in IT and banking stocks. On the global front, Asian shares inched marginally higher today as optimism over the US-Mexico trade deal was quickly clouded by caution ahead of a looming deadline on tariffs with China. Midcaps rebounded today with the BSE midcap index up 0.65%. The BSE smallcap index also rose nearly 0.50%.

10:26 am: Rupee falls against US dollar

The rupee was trading at 70.30 a dollar, down from its previous close of 70.11. Many other Asian currencies were trading lower today. Philippine Peso lost 0.212%, Thai Baht 0.172%, China renminbi 0.169%, Indonesian Rupiah 0.162%, Malaysian Ringgit 0.134%, China Offshore 0.119%, Japanese yen 0.072% and Singapore Dollar 0.007%.

10 am: Kwality Ltd shares fall nearly 5%

Kwality Ltd shares lost as much as 4.99% to Rs 22.09 per share after the board meet to consider issuance of securities by way of QIP/ADR/GDR.

Intec Capital lost as much as 4.97% to Rs 32.50 after the company approved re-appointment of Sanjeev Goel as Managing Director.

Jaiprakash Power Ventures Ltd gained as much as 11.38% to Rs 3.23 per share after the company to mull conversion of loan of lenders into Compulsory Convertible Pref Share up to Rs 4,000 crore.

Artson Enginnering Ltd gained as much as 19.97% to Rs 73 per share after the company got purchase order from Thyssenkrupp Ind India of about Rs 15 crore.

Nitin Fire Protection Industries Ltd lost nearly 4.5% after loss widened to Rs 48.36 crore for the quarter ending 30th June 2018 from Rs 34.20 crore for the same quarter last year.

9:42 am: JSW Steel shares hit a new high today

JSW Steel will replace Lupin in Nifty50 index next month. 23 of 31 brokerages rate the stock “buy” or higher, five “hold” and three “sell” or lower, according to Reuters. On BSE, JSW Steel shares rose 3.5% to a new high of Rs 379.5.

9:30 am | Nifty rejig from September 28 – Lupin shares fall 1%, JSW Steel shares up nearly 3%

Shares of pharma major Lupin were down 1% in early trade today. Lupin will move out from the National Stock Exchange’s benchmark index Nifty 50 from September 28. In its place, leading alloy maker JSW Steel will enter the index. JSW Steel shares were up nearly 3% in early trade. These changes were announced by NSE Indices, an arm of the NSE, as part of its periodic review.

Further, six companies – Punjab National Bank, Cummins India, Emami, JSW Steel, Power Finance Corporation and Rural Electrification Corporation – will be excluded from Nifty Next 50 index, which composes of 50 companies from Nifty 100, other than the Nifty 50 firms. These firms will be replaced by Bandhan Bank, Biocon, HDFC Standard Life Insurance Company, ICICI Lombard General Insurance Company, Lupin and The New India Assurance Company.

9:20 am: Indian markets were off to a cautious start today, with benchmark indices BSE Sensex and Nifty50 inching lower in early trade. Some profit-taking was seen in IT and banking stocks. Metal stocks extended gains today after surging on Tuesday.The Sensex was down 37 points at 38,858 while Nifty was off 18 points at 11,720.

source: livemint.com