Mumbai: The benchmark BSE Sensex gained in early trade on Wednesday on buying by domestic institutional investors (DIIs) even as retail inflation rose to a five-month high. Positive trends at other Asian markets also influenced trading sentiments here.

Brokers said sentiment remained upbeat despite retail inflation rising in August to a five-month high of 3.36%. Industrial production grew by 1.2% in July against 4.5% a year ago on account of manufacturing poor show, according to official data. Brokers said Asian markets were firm after Wall Street stocks jumped to fresh records on Tuesday on easing geopolitical worries and US hurricanes. Hong Kong’s Hang Seng was up 12.03 points, Shanghai’s Composite index rose 0.03%, while Japan’s Nikkei gained 0.47% in their early trade. The US Dow Jones Industrial Average ended 0.28% higher on Tuesday.

Here are the latest updates from the markets:

■ 10.38am: BSE Sensex rises by 85 points, or 0.27%, to 32,244, while the Nifty 50 gains 19 points, or 0.19%, to 10,112.

■ 10.35am: Power companies were trading higher ahead of auctions Wednesday to secure coal supply from Coal India. Tata Power Co Ltd rose 6.1%, JSW Energy Ltd 2.1%, Lanco Infratech Ltd 4%, Bharat Heavy Electricals Ltd 1.3%, Torrent Power 1.1%

■ 10.12am: BSE Sensex trades higher by 76 points, or 0.24%, to 32,235, while the Nifty 50 rises 18 points, or 0.18%, to 10,111.

■ 10.05am: Reliance Industries Ltd hits all time high of Rs 844 a share. The stock was trading 2.5% higher. So far this year it gained 56.39%

■ 10.00am: Banking stocks gain. Oriental Bank of Commerce rises 3.7%, Syndicate Bank 3.1%, Dena Bank 2.3%, Andhra Bank 1.7%, Indian Overseas Bank 1.7%, Central Bank of India 1.6%, Allahabad Bank 1.5%, Bank of Baroda 1.4%, Bank of India 1.4%.

■ 9.57am: India’s largest telecom service provider Bharti Airtel Ltd on Wednesday said it has partnered with South Korea’s SK Telecom Co. Ltd to build an advanced telecom network in India. At 9.57am, Bharti Airtel shares were trading 0.65% down at Rs404.25, while BSE Sensex was up 85 points, or 0.27%, at 32,244.

■ 9.35am: BSE Sensex opens higher by 48 points, or 0.15%, to 32,207, while the Nifty 50 rises 12 points, or 0.12%, to 10,105.

■ 9.27am: Tata Motors Ltd rises 1.3% to Rs392.25 after the company said its global wholesales up 9% year-on-year to 94,210 in August.

■ 9.25am: Capital First Ltd is up 3% to Rs831.85 after its overseas investment limit raised by Reserve Bank of India to 50% from 24%.

■ 9.20am: Rane group stocks are trading higher after Rane Holding acquired 10.96 lakh shares in Rane Madras at Rs547 each, increasing its holding to 60.44% post acquisition. Rane Holdings Ltd rose 9.6%, Rane Engine Valve Ltd rose 16.4%, Rane Madras Ltd 16% and Rane Brake Lining Ltd 11%.

■ 9.15am: The rupee strengthened marginally against the US dollar tracking gains in its Asian peers. The rupee opened at 64.02 a dollar. At 9.15am, the rupee was trading at 63.98 a dollar, up 0.09% from its Tuesday’s close of 64.04.

■ 9.13am: The 10-year bond yield was at 6.582% — a level last seen on 6 Jun, compared to its previous close of 6.554%. Bond yields and prices move in opposite directions.

■ 9.10am: Asian currencies were trading higher amid easing tensions with North Korea. South Korean won was up 0.19%, Singapore dollar 0.17%, Japanese yen was up 0.12%, China offshore 0.11%, Malaysian ringgit, Thai baht were up 0.11% while China renminbi was up 0.08%. However, Philippines peso was down 0.06%, Taiwan dollar 0.05%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 91.788, down 0.1% from its previous close of 91.882.

Source:livemint.com