The Indian equity market started off the first day of October series on a positive note, rebounding sharply after previous day's sharp sell-off.
At 9:40 AM, the S&P BSE Sensex is trading at 27,875 up 47 points, while NSE Nifty is trading at 8,602 up 11 points.
The BSE Mid-cap Index is trading up 0.76% at 13,012 whereas BSE Small-cap Index is trading up 0.90% at 12,627.
GAIL, Infosys, Wipro, Sun Pharma, RIL and SBI are among the gainers, whereas Adani Ports, Bharti Airtel, Dr.Reddy's and Cipla are losing sheen on BSE.
Some buying activity is seen in realty, oil & gas, utilities, auto and pharma sectors, while FMCG, consumer durables and telecom are showing weakness on BSE.
The INDIA VIX is down 2.19% at 18.0450. Out of 1,850 stocks traded on the NSE, 564 declined, 916 advanced and 370 remained unchanged today.
A total of six stocks registered a fresh 52-week high in trades today, while 42 stocks touched a new 52-week low on the NSE.
Seamec soared 8.8% after the company has entered into an agreement with HAL Offshore (HAL) for deployment of vessel SEAMEC II along with provision of services of ROV, the contract commenced with effect from September 28, 2016.
Lovable Lingerie climbed 2.5% on the BSE. Promoters of Lovable Lingerie Ltd are in talks with private equity funds to sell 15-20% stake in the company, as per media reports.
Alkem Laboratories Ltd tanked 6.5% after the company has received 13 observations from the US Food and Drug Administration (USFDA) after the regulator inspected its manufacturing facility at Daman.
Yes Bank gained 1.3% after the bank is planning to raise up to Rs.2,500 crore by issuing long-term bonds on a private placement basis.
NHPC zoomed 2% after the company has signed a power purchase pact with the Government of Rajasthan as well as Inox Ltd for a 50 mw wind power project in the state.
Lupin inched up 1%. The company said it has received approval from the US health regulator to market its memantine hydrochloride extended-release capsules, used in treating Alzheimer's disease.
Zee Entertainment Enterprises Ltd gained 0.55% after the company announced acquisition of UAE-based radio station. The company already operates satellite television channels like Zee Aflam and Zee Alwan in the UAE market.
Kotak Mahindra Bank is trading marginally lower on the BSE. ING offloaded a 2.5% stake in Kotak Mahindra Bank for an estimated Rs 3,653 crore through an open market transaction.
Sintex Industries jumped 6% to Rs.77.50 after the company said its board has approved demerger of custom moulding business and prefab business from its two arms Sintex BAPL and Sintex Infra Projects, respectively.
HCL Technologies gained 1%. HCL and IBM said that the companies have entered a 15-year partnership for automation and development and operations.
Jubilant Life Sciences rose 2%. Jubilant Life Sciences has successfully raised $300 million through a sale of unsecured bonds by its pharmaceuticals arm in Singapore, as per media reports.
The rupee opened marginally higher one paise at 66.85/$ against US Dollar Friday as against the previous close of 66.84/$.
Market participants are anxiously awaiting the Monetary Policy Review on October 4, the first to be held under the newly appointed RBI Governor Urjit Patel and the first to be decided by a six-member panel.
On the economy front, Finance Ministry exuded confidence that currency and stock markets will stabilise in the next few days and decisive action against terrorism will spur growth.
Asian markets are trading mixed. In Japan, the Nikkei 225 fell 1.6%. Hong Kong's Hang Seng slipped 1.3%, while Shanghai Composite is trading in green.
US crude futures added 1.7% to USD 47.83, after climbing to as high as USD48.32, the highest level in almost five weeks.
On agenda today are GST Council meet, CPI for Industrial workers and Core Sector growth for August. The rollovers have been below average. Foreign investors have pumped in over Rs.7,000 crore.