All sectoral indices are giving mixed trends, with gains visible among consumption and pharmaceuticals, while automobiles are showing minor signs of pressure.

Maruti Suzuki, the country’s largest car maker, will shift entirely to a rupee-denominated royalty pay system by 2022, a top company official said.

This will help negate the vagaries in foreign exchange for the Indian entity as around 60 percent of its current royalty payment is made in yen. 

ArcelorMittal has moved the National Company Law Apellate Tribunal (NCLAT) to expedite the hearing on the auction of Essar Steel. The LN Mittal company, whose bid has got the backing of Essar Steel lenders, is in a race with the Ruias, who made a last minute offer for their insolvent steel company.

Glenmark Pharmaceuticals has been granted tentative approval by the United States Food & Drug Administration (US FDA) for Abiraterone Acetate Tablets USP, 250 mg, a generic version of Zytiga 1 tablets, the company said in a release.

As market trades flat, among stocks that have touched 52-week low include Dilip Buildcon Limited, Dena Bank, Finolex Cables Limited, IL&FS Transportation Networks Limited. Stocks that are at 52-week high include Wipro, Kilitch Drugs (India) Limited, Dhunseri Ventures Limited, etc. 

Equities have continued to remain flat, with the Nifty hovering above 10,900.

The Sensex is down 1.16 points or 0.00% at 36443.48, and the Nifty up 7.00 points or 0.06% at 10929.80. About 826 shares have advanced, 539 shares declined, and 82 shares are unchanged.

The Bank of Japan kept monetary policy steady on Wednesday and cut its price projections, bolstering market views it is in no position to rush an exit from its massive stimulus programme, despite the costs of prolonged easing.

In a widely expected move, the BOJ maintained its short-term interest rate target at minus 0.1 percent and a pledge to guide 10-year government bond yields around zero percent.

The central bank also left unchanged its forward guidance, adopted in July, that pledges to keep interest rates extremely low for an extended period.

It is a flat start for the market on Wednesday morning, with the Nifty holding 10,900.

All sectoral indices are giving mixed trends, with gains visible among consumption and pharmaceuticals, while automobiles are showing minor signs of pressure. 

The Sensex is up 23.88 points or 0.07% at 36468.52, and the Nifty up 2.10 points or 0.02% at 10924.90. The market breadth is positive as 273 shares advanced, against a decline of 114 shares, while 36 shares were unchanged.

Yes Bank and Asian Paints were the top gainers, while Infosys, Hero MotoCorp, and Vedanta have lost the most. 

Equity benchmarks are trading mixed in the pre-opening. The Nifty is below 10,900.

At 09:00 hrs IST, the Sensex is up 70.78 points or 0.19% at 36515.42, and the Nifty down 48.00 points or 0.44% at 10874.80.

The Indian rupee has opened higher at 71.17 per US dollar, up 27 paise against previous close of 71.44 per US dollar. 

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