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PremiumMUMBAI :Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 closed higher on Wednesday, snapping a three-day losing streak. Shares gained on value-buying by domestic investors in IT, banking, FMCG and oil and gas stocks amid firming trend on Asian bourses. Also, a slide in crude oil prices boosted sentiments. Sustained buying by domestic investors and a firm trend in Asia and a lower opening in Europe with investors awaiting the release of minutes from the US Federal Reserve’s policy meeting later today also influenced sentiments, brokers said. On a net basis, DIIs bought shares worth Rs1,437.24 crore, while FPIs sold shares worth Rs850.35 crore on Tuesday, as per provisional data. (PTI) Here are the latest updates from the markets:
BSE Sensex closed higher by 141.27 points, or 0.42%, to 33,844.86, while the Nifty 50 gained 37.05 points, or 0.36%, to close at 10,397.45.
Lupin Ltd said the company has received the final approval for Oseltamivir Phosphate for oral suspension the generic version of Hoffman-La Roche Inc’s Tamiflu. Shares were up 0.02% at Rs816.
Oil prices fell, weighed down by a rebound in the US dollar from three-year lows hit last week and by an expected rise in US crude production. US West Texas Intermediate (WTI) crude futures were at $61.19 a barrel at 1.25pm, down 60 cents, or 1%, from their last settlement. Brent crude futures fell 48 cents, or 0.7%, from their last close to $64.77 per barrel. (Reuters)
RIL’s telecom venture Reliance Jio Infocomm has over the years invested Rs20,000 crore in UP. Also, Jio will make available over 20 million JioPhones in UP within the next two months on a priority basis, Ambani said.
UP investors summit: RIL to invest Rs10,000 crore over next 3 years, says Mukesh Ambani https://t.co/JLMNJaDjkg
— Livemint (@livemint) February 21, 2018
European shares slid on Wednesday after a day of gains in Asia as attention turned to minutes from the latest meeting of the Federal Reserve. Germany’s DAX slipped 0.5% to 12,432.70 and the CAC 40 of France lost 0.5% to 5,265.04. Britain’s FTSE 100 lost 0.2% to 7,234.56. Dow futures edged 0.1% lower to 24,933.00 and S&P 500 futures also were down 0.1% at 2,712.50, pointing to losses on the open in New York. (AP)
The rupee was trading little changed against the US dollar ahead of the RBI minutes for the latest policy meeting due to be released after 5pm on Wednesday. The home currency was trading at 64.78, up 0.01% from its previous close of 64.79. The local currency opened at 64.94 and touched a low of 64.94 a dollar, a level last seen on 22 November. Yield on 10-year government bond was at 7.665% compared to its Tuesday’s close of 7.673%.
Sadbhav Infrastructure Projects Ltd shares rose 2.34% to Rs137.50 after the company said it was declared L1 bidder for the HAM project by the National Highway Authority of India.
Vikas Granaries Ltd shares rose 4.92% to Rs10.02 after the company’s board approved a stock split.
BSE Sensex traded higher by 43.35 points, or 0.13%, to 33,746.94, while the Nifty 50 gained 3.65 points, or 0.04%, to 10,364.05. Meanwhile, BSE MidCap was down 0.58% and SmallCap fell 0.42%. Fourteen out of nineteen sectoral indices on BSE traded lower led by metal, down 1.86%, basic materials 1.26%, healthcare 1.14% and realty 0.98%. IT and Tech rose 1.41% and 1.13%, respectively.
Balrampur Chini Mills Ltd said its board of directors has approved the buyback of 6,600,000 equity shares for an aggregate amount of upto Rs99 crore. Shares traded 2.60% lower at Rs116.05.
Enterprise software company Capillary Technologies Pvt. Ltd has raised $20 million in a new round of funding from private equity firm Warburg Pincus, venture capital firm Sequoia Capital and existing investor. It will use the fresh round of funding to strengthen product development capabilities, especially around artificial intelligence (AI) and machine learning.
Yes Bank Ltd said its capital-raising committee has approved issue of Rs3,000 crore Basel III compliant tier 2 bonds. Shares traded 0.40% lower at Rs308.05.
BSE Sensex traded higher by 106.76 points, or 0.32%, to 33,810.35, while the Nifty 50 gained 22.45 points, or 0.22%, to 10,382.85.
Retirement fund manager Employees’ Provident Fund Organization (EPFO) will announce the 2017-18 provident fund interest rate for over 50 million subscribers on Wednesday after a meeting of its Central Board of Trustees (CBT).
EPFO to announce interest rate today: 4 things to watch out for https://t.co/VWgdpLyqbj
— Livemint (@livemint) February 21, 2018
Bharat Heavy Electricals Ltd said it has won a contract worth Rs1,034 crore from Hindustan Petroleum Corp. for setting up a gas turbine based captive power plant at Visakhapatnam, Andhra Pradesh. Shares traded 0.32% lower at Rs92.85.
Bitcoin is now changing hands at a three-week high of $11,160 on the Luxembourg-based Biststamp exchange. Choe Heung-sik, chief of South Korea’s Finance Supervisory Service (FSS) said on Tuesday that it hopes to see South Korea—which has become a hub for cryptocurrency trade—normalise the virtual coin business in a self-regulatory environment.
Sun Pharmaceuticals Industries Ltd shares declined 7% to Rs520.45 after a huge block deal. Around 1.3 million shares of the company changed hands in a block deal, according to Bloomberg. However, details of the buyers and sellers were not known.
Gold prices fell further and hit a one-week low as the dollar steadied after a recovery from last week’s three-year low, while investors awaited the minutes of the US Federal Reserve’s last policy meeting for clues on the pace of interest rate hikes this year. Spot gold had slipped by 0.2% to $1,326.37 an ounce by 9.23am and was down for a fourth straight session. Earlier in the day, prices touched the lowest since 14 February at $1,325.31 an ounce. US gold futures were down 0.2% at $1,328.5 per ounce.
BSE Sensex traded higher by 45.05 points, or 0.13%, to 33,748.64, while the Nifty 50 was little changed at 10,360.10. BSE MidCap was down 0.23%, while SmallCap edged down 0.06%. Among the sectoral indices on BSE, IT, Teck and FMCG leading the gains, while metal, healthcare and basic materials were trading lower.
Mid Cap IT stocks are trading higher after Nasscom said the software services exports will see revenue growth of 7-9% in constant currency terms in the fiscal year to March 2019. L&T Technology Services Ltd rose 7%, Infinite Computer Solutions India Ltd rose 5%, NIIT Technologies Ltd rose 4%, Mindtree Ltd 4%, Persistent Systems Ltd 4%, Mphasis Ltd 4%, Mastek Ltd 4%, Larsen & Toubro Infotech Ltd 4%, Hexaware Technologies Ltd 4%.
Metal stocks trades lower. Hindalco Industries Ltd fell 4%, Steel Authority Of India Ltd 1.8%, Vedanta Ltd 1.7%, Coal India 1.4%, National Aluminum Co Ltd 1.2%, Jindal Steel & Power Ltd 1.2%, JSW Steel Ltd 1%, Tata Steel Ltd 1%.
Steel Strips Wheels Ltd said it has received an export order of about 46,000 steel wheels from BMW. Shares rose 1.71% to Rs985.
Eros International Media Ltd shares jumped 9% to Rs213.85 after Reliance Industries Ltd (RIL) on Tuesday said it will buy a 5% stake in NYSE listed Eros International Plc (Eros) through a subsidiary. RIL will pay $15 per Eros International share, which represents an 18% premium to Friday’s closing price. The two parties will invest up to Rs1,000 crore each to produce and acquire Indian films and digital originals across all languages Reliance Industries Ltd rose 0.6%
Biocon Ltd shares fell 1.7% to Rs562.55 after the company said US food and drug regulator issued Form 483 with six observations.
Dilip Buildcon Ltd shares rose 3.4% to Rs949 after the company said it got orders worth Rs380 crore from NHAI in Karnataka.
Even if we were to assume for a moment that growth rates in the IT sector turn out to be how Nasscom expects them to be in FY19, there’s nothing much for investors to get excited about.
Nasscom has better visibility, but haze lingers
— Mint Mark to Market (@livemint_m2m) February 21, 2018
Even if we were to assume for a moment that growth rates in the IT sector turn out to be how Nasscom expects them to be in FY19, there's nothing much for investors to get excited about https://t.co/7E6PAeMcXL @mobis_philipose
The Indian rupee weakened further against the US dollar ahead of the Reserve Bank of India’s (RBI) minutes for the latest policy meeting due after 5pm. The home currency was trading at 64.87, down 0.12% from its previous close of 64.79. The local currency opened at 64.94 and touched a low of 64.94 a dollar, a level last seen on 22 November. Yield on 10-year government bond was at 7.668% compared to its Tuesday’s close of 7.673%.
BSE Sensex traded higher by 112.77 points, or 0.33%, to 33,816.36, while the Nifty 50 gained 33.20 points, or 0.32%, to 10,393.60.
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