The benchmark BSE Sensex surged over 150 points on Wednesday on a buying build-up by participants, tracking a global rally. Moreover, short-covering of positions by speculators in view of tomorrow’s June monthly derivatives contract expiry contributed to the surge.

Market updates and Reports

1:00pm: BSE Sensex is up 120 points, or 0.49%, to 26,653.86, while the Nifty gains 50 points, or 0.62%, to 8,178.05.

12:55pm: JP Group stocks are trading higher. Jaiprakash Associate Ltd rises 4%, Jaypee Infratech Ltd 3%, Jaiprakash Power Ventures Ltd 2.3%.

12:50pm: Metal stocks are trading higher. Vedanta Ltd rises 3.1%, Hindalco Industries Ltd 2%, Hindustan Zinc Ltd 2%, NMDC 1.7%, Steel Authority of India 1.2%, Tata Steel Ltd 1%, Jindal Steel and Power Ltd 0.8%.

12:45pm: Dhanlaxmi Bank Ltd rises 4.1% to Rs.24.15. The bank said in a notice to BSE that its board will meet on 4 July to consider the proposal for raising further equity shares on preferential allotment basis and seek shareholders’ approval for the same.

12:40pm: Banking stocks are trading higher on the back of higher volumes. Indian Overseas Bank rises 2%, Canara Bank up 2%, IDBI Bank 2%, Karnataka Bank 1.8%, Indusind Bank 1.6%, Union Bank of India 1.2%, Andhra Bank 1.2%, Yes Bank 1%, ICICI Bank up 1%, Federal Bank up 0.9%, Bank of India 0.9%, Syndicate Bank 0.6%.

12:30pm: BSE Sensex is up 115 points, or 0.44%, to 26,640.50, while the Nifty gains 42 points, or 0.52%, to 8,170.05.

12:20pm: Dabur India Ltd falls 2.3% to Rs.304.45. The stock fell for the second consecutive sessions. On Tuesday, Japanese broking firm Nomura has downgraded the stock to Neutral as compared to Buy earlier.

12:10pm: Indiabulls Housing Finance Ltd falls 1.4% to Rs.656.10. The stock fell 13 out of 18 trading sessions.

12:00pm: BSE Sensex is up 110 points, or 0.43%, to 26,638.46, while the Nifty gains 36 points, or 0.45%, to 8,164.70.

11:50am: Shree Digvijay Cement Co. Ltd gained 22% in last three sessions. The stock is up 15% to Rs.23.90. So far this year it gained 35%. Burnpur Cement is up 19% to Rs.13.79.

11:40am: Mining companies are trading higher. The Union cabinet on Wednesday cleared a new mineral exploration policy that will allow private companies to carry out stand-alone exploration for the first time, according to Reuters. Ashapura Minechem Ltd up 13%, Maithan Alloys Ltd 3%, Sandur Manganese and Iron Ores Ltd 5%, Indian Metals and Ferro Alloys Ltd 6.5%.

11:35am: BSE Sensex is up 95 points, or 0.36%, to 26,620.04, while the Nifty gains 33 points, or 0.42%, to 8,161.60.

11:30am: SKF India Ltd rises 5% to Rs.1,389. Since 10 June, the stock gained 15% and so far this year it gained 14.1%.

11:25am: After falling for three sessions, IT stocks are trading in the green. Infosys Ltd rises 0.7%, Tata Consultancy Services Ltd 0.7%, Wipro Ltd 1%, HCL Technologies Ltd 0.8%, Tech Mahindra Ltd 1%.

11:20am: Power companies trading higher on the back of higher volumes. JSW Energy Ltd rises 3.8%, Thermax Ltd 2.5%, Reliance Infrastructure Ltd 1.8%, NTPC Ltd 1.7%, Bharat Heavy Electricals Ltd 1.3%, PowerGrid Corp Ltd 1.1%, Reliance Power Ltd 1%, Crompton Greaves Ltd 1%, Alstom T&D India Ltd 1%, ABB Ltd 0.8%, Tata Power Co. Ltd 0.8%.

11:15am: Adani Enterprises Ltd gained 11% in last three sessions. The stock rises 1.3% to Rs.82.45. So far this year it fell 2%.

11:10am: Future Enterprises Ltd gained over 17% in last three trading sessions. The stock up 8% to Rs.24.80. So far this year it gained 26%.

11:05am: Future Lifestyle Fashions Ltd jumped 15% in last two weeks. The stock gained for the third consecutive sessions. It is up 5% today to Rs.128.20. So far this year it gained 49%.

11:00am: BSE Sensex is up 130 points, or 0.50%, to 26,657.36, while the Nifty gains 49 points, or 0.60%, to 8,176.85.

10:55am: Non-bank financial companies (NBFCs) are trading higher on the back of higher volumes. Ujjivan Financial Services Ltd rises 4%, Equitas Holdings Ltd jumps 2%, Muthoot Finance Ltd up 4%, SKS Microfinance Ltd up 1%, Mahindra and Mahindra Financial Services Ltd jumps 4%.

10:50am: JSW Steel Ltd rises 1% to Rs.1,440. JSW Steel Ltd on Tuesday said it will seek shareholders’ approval to raise as much as $2 billion by selling non-convertible foreign currency denominated bonds to fund its long-term capital expenditure plans.

10:40am: Shares of ARSS Infrastructure Ltd gained over 100% in last three weeks, with hitting over four year high, on the back of higher volumes. Since 6 June, the stock gained over 103% and so far this year it gained 82%. The stock today up 4% to Rs.89.45.

10:35am: Gammon India gained over 88% since last one week. The stock today is up 3% to Rs.18.23 a share.

10:29am: Suven Life Sciences Ltd rises 2.5% to Rs. 209.30 after the company said in a notice to BSE that it secured three product patents in Europe and Eurasia.

10:20am: Auto companies trading higher on the back of higher volumes. Hero MotoCorp Ltd up 1.7%, Tata Motors Ltd up 1.7%, Maruti Suzuki India 0.8%, Mahindra and Mahindra Ltd up 0.7%, Ashok Leyland up 0.7%.

10:10am: Strides Shasun Ltd rises 1.3% to Rs.1,105. Shareholders of Strides Shasun have approved divestment of Shasun Pharma Solutions Ltd, UK via postal ballot.

10:05am: BSE Sensex is up 155 points, or 0.59%, to 26,680.30, while the Nifty gains 47 points, or 0.58%, to 8,175.05.

10:00am: Future group companies are trading higher on the back of higher volumes. Future Consumer Enterprises Ltd up 4.6%, Future Enterprises Ltd up 7.8%, Future Lifestyle Fashions Ltd up 3.5%.

9:55am: Thomas Cook India Ltd rises 1.7% to Rs.217.60. Staffing firm Quess Corp. will hit capital markets on Wednesday to raise Rs.400 crore through an initial public offering (IPO).

9:50am: Hester Biosciences Ltd rises 1.1% to Rs.774. The board of Hester Biosciences is meeting on Wednesday to consider a proposal to raise funds through a qualified institutional placement (QIP) issue.

9:45am: Realty stocks are trading higher on the back of higher volumes— DLF up 9%, Unitech Ltd up 9%, HDIL up 4.6%, Sobha up 4.6%, Indiabulls Real Estate 3.3%, Godrej Properties up 2.1%, Oberoi Realty Ltd 2%.

9:30am: India’s 10-year bond yield was trading at 7.445%, compared with Tuesday’s close of 7.452%.

9:20am: The rupee opened at 67.80 a dollar. At 9.12am, the home currency was trading at 67.77, up 0.26% from its previous close of 67.95.

9:15:am: The Indian rupee on Wednesday strengthened against the US dollar, tracking gains in the global markets.

9:05am: US crude oil futures were up 40 cents at $48.25, while Brent crude rose 27 cents to $48.85.

9:00am: MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1% to recoup around a third of Friday’s stinging loss. Japan’s Nikkei climbed 1.4%, while Australian stocks added 0.8%.

8:55am: Asian share markets joined a global rebound on Wednesday as the immediate drag from the Brexit vote began to ebb and investors wagered central banks would ultimately ride to the rescue with more stimulus measures.

8:50am: On Wall Street, the Dow Jones industrial average rose 269.48 points, or 1.57%, to 17,409.72, the S&P 500 gained 35.55 points, or 1.78%, to 2,036.09 and the Nasdaq Composite added 97.42 points, or 2.12%, to 4,691.87.