Coal news and updates

Sensex trading up 82 points; Vedanta, Coal India top gainers

Indian benchmark indices the Sensex and the Nifty moved up as global stocks moved on recovery in China.

At 10.10 am, the Sensex was trading up 82.76 points or 0.30 per cent at 27,656.42 while the NSE Nifty was up 21.45 points or 0.26 per cent at 8,350.

Of the 50 Nifty constituents, 29 traded in the green and 21 in the red.

Barring FMCG all BSE sectoral indices were trading in the green. Metal, health care, capital goods and banks advanced the most.

Vedanta, Coal India, Tata Motors, Sun Pharma, Wipro and BHEL gained by up to 1.8 per cent on the BSE.

Tata Consultancy Services shares were trading choppy as disappointing operational performance in April-June weighed on the stock.

Bharat Heavy Electricals was trading up 0.80 per cent after gaining nearly 2 per cent on reports CLSA Asia Pacific Markets had upgraded the stock to ‘buy’ from ‘sell’.

In midcaps, Monnet Ispat and Energy surged 20% as the company inked a non-binding MoU with JSW Energy for a possible sale of stake in its arm Monnet Power Co. JSW Energy’s shares were down 0.3%.

Global markets

Asian shares and the euro gained in early Asian trade on Friday after Greece offered new reform proposals to creditors, raising hopes of a cash-for-reform deal at a weekend summit of European leaders.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent, but still on track for a weekly loss over 4 percent in a period marred by a savage correction in Chinese stock markets.

US stock futures also rose, with S&P 500 mini futures jumping as high as 2061.75, up 1.0 percent from late U.S. levels. They were last up 0.7 percent.

But Japan's Nikkei stock index drooped 0.3 per cent, headed for a weekly loss of over 3 per cent.

source: http://www.thehindubusinessline.com