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Business News/ Market / Stock-market-news/  Market Wrap: Sensex closes 610 points up, Nifty gains nearly 2%, telecom, FMCG stocks rally
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Market Wrap: Sensex closes 610 points up, Nifty gains nearly 2%, telecom, FMCG stocks rally

BSE Sensex closed higher by 610.80 points at 33,917.94, while the Nifty 50 rose 194.55 points to close at 10,421.40. Here are the latest updates from the markets

BSE Sensex and NSE Nifty closed higher on Monday. Photo: MintPremium
BSE Sensex and NSE Nifty closed higher on Monday. Photo: Mint

MUMBAI :Mumbai: The markets rallied on Monday following firm global cues after trade war worries eased last week. BSE Sensex closed 610.80 points higher, while NSE’s Nifty 50 ended 194.55 points up led by telecom, FMCG and metal stocks. Moreover, Asian and European stocks gained as trade war concerns took a backseat to economic optimism following a US jobs report on Friday that showed that the American economy continued to strengthen without the prior month’s rapid wage gains that stoked inflation fears. However, analysts said that Indian markets will focus on key macro IIP and CPI for January and February, respectively, due to be released after 5.30pm. Here are the latest updates from the markets:

12 Mar 2018, 03:36:00 PM IST

Closing bell

BSE Sensex closed higher by 610.80 points, or 1.83%, to 33,917.94, while the Nifty 50 rose 194.55 points, or 1.90%, to close at 10,421.40. BSE MidCap and SmallCap were up 0.76% and 0.56%, respectively. All the sectoral indices on BSE ended higher led by telecom, which was up 2.57%, followed by metal 2.32%, FMCG 2.13% and oil and gas 2.13%. Bharti Airtel, NTPC, ITC and Tata Motors were among the top gainers, whereas Coal India and SBI were top losers.

12 Mar 2018, 03:12:00 PM IST

Caplin Point Labs to explore acquisition opportunities

Caplin Point Laboratories Ltd said its board of directors considered to explore opportunities to acquire entities. Shares traded 0.91% lower at Rs597.30.

12 Mar 2018, 02:57:00 PM IST

Market update

BSE Sensex traded higher by 527.19 points, or 1.58%, to 33,834.33, while the Nifty 50 rose 168.05 points, or 1.64%, to 10,394.90.

12 Mar 2018, 02:55:00 PM IST

Bharti Airtel to issue NCDs worth Rs10,000 crore

Bharti Airtel Ltd said its board of directors issuance of non-convertible debentures (NCDs) of upto Rs10,000 crore on a private placement basis. Shares were trading 3.93% up at Rs417.75.

12 Mar 2018, 02:50:00 PM IST

European shares trade higher

Europe’s main stock markets rose at the start of trading following strong gains in Asia. London’s benchmark FTSE 100 index climbed 0.4% to 7,249.69 points. In the eurozone, Frankfurt’s DAX 30 advanced 0.9% to 12,453.30 points and the Paris CAC 40 grew 0.5% to 5,298.22.

12 Mar 2018, 02:45:00 PM IST

Rupee strengthens against US dollar

The Indian rupee was trading higher against the US dollar ahead of key Consumer Price Index-based (CPI) inflation and Index of Industrial Production (IIP) data due on Monday after 5.30pm. The rupee was at 65.01, up 0.25% from its previous close of 65.17. The home currency opened at 64.95 a dollar and touched a high and a low of 64.95 and 65.04 respectively. Yields on 10-year government bonds was at 7.647% compared to Friday’s close of 7.671%.

12 Mar 2018, 01:54:00 PM IST

Sensex jumps 400 points, Nifty above 10,350

BSE Sensex traded higher by 414.63 points, or 1.24%, to 33,721.77, while the Nifty 50 rose 132.80 points, or 1.30%, to 10,359.65.

12 Mar 2018, 01:33:00 PM IST

Market update

BSE Sensex traded higher by 370.80 points, or 1.11%, to 33,677.94, while the Nifty 50 rose 123.70 points, or 1.21%, to 10,350.55. All the sectoral indices on BSE, except realty, traded higher with FMCG, telecom, IT and teck leading the gains. BSE MidCap and SmallCap rose 0.07% and 0.04%, respectively.

12 Mar 2018, 01:30:00 PM IST

Eicher Motors ends JV with US partner Polaris Industries

Eicher Motors Ltd announced its decision to shut its joint venture (JV) Eicher Polaris Pvt. Ltd (EPPL) with US-based Polaris Industries Inc. as sales of its personal utility vehicle Multix dropped to unsustainable levels. Shares rose 0.95% to Rs28,138.60.

12 Mar 2018, 01:27:00 PM IST

Talbros Automotive shares up on receipt of new order

Talbros Automotive Components Ltd said it has won an order from Dana Spicer India Pvt Ltd under its forging division for supply of parts with an estimated revenue of about Rs35 crore per annum. Shares gained 1.97% to Rs272.05.

12 Mar 2018, 01:25:00 PM IST

BHEL gets new order worth Rs736 crore

Bharat Heavy Electricals Ltd said it has secured a significant order worth Rs736 crore for supply of steam generators from Nuclear Power Corp. of India Ltd (NPCIL). Shares were down 0.29% to Rs86.

12 Mar 2018, 01:20:00 PM IST

Man Infraconstruction shares gain over 1%

Man Infraconstruction Ltd announced that it has received orders worth Rs220.75 crore from Pimpri Chinchwad Municipal Corp. under the Pradhan Mantri Awas Yojna housing scheme. Shares rose 1.29% to Rs54.80.

12 Mar 2018, 12:35:00 PM IST

L&T unit gets orders worth Rs2,597 crore

Larsen & Toubro Ltd said its construction arm has won orders worth Rs2,597 crore across business segments. Shares 0.84% up at Rs1301.

12 Mar 2018, 12:33:00 PM IST

IT stocks trade higher

IT stocks trade higher. Infosys Ltd rose 2.2%, TCS gained 1.3%, Wipro Ltd 2%, HCL Technologies Ltd 3.2%, Tech Mahindra Ltd 1.1%.

12 Mar 2018, 12:30:00 PM IST

Sugar stocks trade lower

Sugar stocks declined after Indian Sugar Mills Association estimates record output. Balrampur Chini Mills Ltd fell 4.1%, Bajaj Hindustan Sugar Ltd fell 1.2%, Shree Renuka Sugars 0.3%, Mawana Sugars Ltd 1.4%, Dwarikesh Sugar Industries Ltd 5.2%, Avadh Sugar & Energy Ltd 3%.

12 Mar 2018, 11:18:00 AM IST

Market update

BSE Sensex traded higher by 320.02 points, or 0.96%, to 33,627.16, while the Nifty 50 rose 101.05 points, or 0.99%, to 10,327.90. All the sectoral indices on BSE traded higher with IT gaining most at 1.86%, teck 1.57 and FMCG 1.40. BSE MidCap and SmallCap 0.26% and 0.39%, respectively.

12 Mar 2018, 11:15:00 AM IST

Coal India shares decline on lower dividend

Coal India Ltd shares fell 1.6% to Rs300 after the company paid lower-then-expected dividend for the financial year 2017-18. On Sunday, Coal India approved dividend of Rs16.50 a share. As of December 2017, government holds 78.55% stake in Coal India and it is expected to get around Rs8,044 crore dividend. Last fiscal year, it gave around Rs12,350 crore dividend to government.

12 Mar 2018, 11:13:00 AM IST

Man Infraconstruction shares gain

Man Infraconstruction Ltd shares gained 2.1% to Rs55.25 after the company said it got order worth Rs221 crore from Pimpri Chinchwad.

12 Mar 2018, 11:10:00 AM IST

Suzlon Energy shares rise on receipt of order

Suzlon Energy Ltd shares rose 1.5% to Rs11.19 after the company said it got 75 MW repeat order from independent producer via Maharashtra bid.

12 Mar 2018, 10:25:00 AM IST

Avanti Feeds, Apex Frozen Foods shares fall

Avanti Feeds Ltd shares were down 1%, Apex Frozen Foods Ltd fell 1.2%. US Department of Commerce has suggested a hike in anti-dumping duty on Indian shrimp to 2.34% from 0.84%, Bloomberg reported.

12 Mar 2018, 09:58:00 AM IST

Banking stocks trade lower

Banking stocks fell. Central Bank of India declined 5%, IDBI Bank 3.5%, Oriental Bank of Commerce 3.3%, Canara Bank 3%, Allahabad Bank 2.1%, Union Bank of India 1.8%, Bank of India 1.6%, Indian Bank 1.5%, Syndicate Bank 1.1%, Indian Overseas Bank 1.1%, State Bank of India 1%, Punjab National Bank 0.9% and Bank of Baroda fell 0.5%.

12 Mar 2018, 09:55:00 AM IST

Andhra Bank shares down after ED files case against former director

Andhra Bank shares fell 12% to Rs34 after Enforcement Directorate on Friday filed a supplementary prosecution complaint (chargesheet) against former Andhra Bank director Anup Prakash Garg in connection with a Rs5,000 crore bank fraud involving the Vadodara-based Sterling Biotech Ltd (SBL) of the Sandesara group of companies.

12 Mar 2018, 09:53:00 AM IST

Hindalco Industries shares fall after downgrade

Hindalco Industries Ltd shares declined 1% to Rs218 after brokerage firm CLSA has downgraded the stock to sell and lowered its price target to Rs205 a share from Rs285 earlier.

12 Mar 2018, 09:50:00 AM IST

India must lead the transition to green energy

The fight against climate change is likely to create the next big technological wave, an opportunity for India.

12 Mar 2018, 09:47:00 AM IST

Rupee trades higher against US dollar ahead of key CPI, IIP data

The Indian rupee was trading higher against the US dollar ahead of key Consumer Price Index-based (CPI) inflation and Index of Industrial Production (IIP) data due on Monday after 5.30pm. The home currency opened at 64.95 a dollar. At 9.15am, the rupee was at 64.96, up 0.33% from its previous close of 65.17. Yields on 10-year government bonds was at 7.697% compared to Friday’s close of 7.671%. Bond yields and prices move in opposite directions.

12 Mar 2018, 09:35:00 AM IST

Market update

BSE Sensex traded higher by 263.82 points, or 0.79%, to 33,570.96, while the Nifty 50 rose 89.80 points, or 0.88%, to 10,316.65.

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