Benchmark indices fell marginally in the first hour of trade amid weak global cues. Sensex declined 35 points to 65,745.14. Nifty edged 9 points lower to 19,566.10.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said: "For the near term, there are mixed cues for the market. The negative factors are the surprising strength of the dollar index at 104.86, the resilient bond yields in the US (the 10-year at 4.26), and now, the Brent crude at $90. The spike in crude is a major macro concern. In this scenario, the FIIs are likely to continue selling in the cash market. On the positive side, the sustained DII buying is imparting strength to the market. DIIs have bought stocks worth Rs 5,934 crore in the cash market during the last three trading days of September."
Shares of NBCC climbed 3.43% to Rs 61.83, as the company signed an MoU with Kerala State Housing Board (KSHB) for the development of 17.9 acres land parcel for Rs 2,000 crore.
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Shares of recent debutant Vishnu Prakash R Punglia continued its winning run after making a solid listing on Tuesday. The stock climbed 8.07% to Rs 157.70 level. The stock is admitted to 'B' group Securities.
Syrma SGS Technology climbed 6.13% to Rs 571.50 as it completed acquisition of 51% stake in Johari Digital Healthcare (JDHL) for a consideration of Rs 229.50 crore.
Shares of MMTC gained 7% to Rs 67.36 even as the company said there is no significant event, which may have a bearing on stock prices and needs to be reported to the stock exchanges.
Artson Engineering gained 2% to Rs 139.30 as the company bagged an order confirmation of Rs 25.19 crore inclusive of taxes from Tata Projects for Fabrication of Structures for AMNS Project on Conversion Basis.
Shares of Jio Financial JFS were trading 2.6% lower at Rs 248.40 on NSE. The stock will be excluded from Nifty and other NSE indices from September 7.
Shares of Vedanta gained 0.93% to Rs 243.60 amid a media report suggesting parent Vedanta Resources is in discussions with Standard Chartered Bank for a loan of $1.2 billion to $1.3 billion.
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