Closing Bell: Nifty, Sensex close higher, PSU banks rise on RBI action
Mumbai: Sensex, Nifty saw a positive start on Wednesday before closing marginally higher, coming on the back of an overnight record close on the Wall Street. Investors kept track of the two-day monetary policy meeting of the US Federal Reserve, which is due to announce its decision on Wednesday. Realty, healthcare, oil and gas and auto indices rose. The NSE Nifty moved up by 11 points, or 0.12%, to 9,618. Support came from Dr Reddy’s, Lupin, Reliance Industries, TCS, PowerGrid and ICICI Bank, which climbed by up to 1.53%.
■ 3.30pm: Nifty PSU bank index rises after RBI said that it had identified 12 of the largest loan defaulters and will order lenders to start bankruptcy proceedings against them, without disclosing any account names. Nifty PSU bank index is higher by 0.79%. Allahabad bank is higher by 7.08%, Andhra Bank is higher by 4.3%, Syndicate Bank by 4.13%, IDBI 3.66%, Union Bank 2.49% and PNB by 2.05%.
■ 3.20pm: Realty stocks rise. BSE realty index jumps by 1.4%. HDIL shares rise by 4.61%, Prestige shares jump by 3.79%, Godrej Properties shares rise by 3.01%, DLF shares rise by 1.16%.
■ 2.27pm: Energy stocks soar. BSE Energy index rises by 1.48%. Reliance Industries shares rise by 3.09%, Hindustan Oil Exploration shares rise 1.47%, Hindustan Petroleum by 0.91%, and Gujarat Mineral Development Corporation Ltd shares rise 0.53%.
■ 2.10pm: BSE Sensex trades higher by 66 points, or 0.21%, to 31,169, while the Nifty 50 rises 8 points, or 0.08%, to 9,614.
■ 1.00pm: Hexaware Technologies lost as much as 5.26% to Rs228 per share Times of India reported that the company is facing revenue headwind from Ernst & Young. The stock is the worst performer on the BSE 200 Index.
■ 12.50pm: Filatex India Ltd gained as much as 5.96% to Rs148.40 per share after CARE upgrades long term bank facilities to BBB+.
■ 12.40pm: MMTC gained as much as 3.03% to Rs62.90 per share as it has initiated the process of divesting its 9.55% equity in the Indian Commodity Exchange (ICEX), marking its exit from the bourse.
■ 12.30pm: Gujarat Pipavav Port rose as much as 4.02% to Rs 142.15 per share on bargain hunting after a recent slide. The stock fell for four consecutive days and it had underperformed the market over the past one month till 13 June 2017, falling 13.89% compared with 2.58% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 13.84% as against Sensex’s 5.80% rise. The scrip had also underperformed the market in past one year, falling 12.54% as against Sensex’s 17.84% rise.
■ 12.20pm: Debt-ridden companies trade lower. GMR Infrastructure Ltd fell 2.4%, Jaiprakash Associates Ltd 2%, Aban Offshore 2%, Punj Lloyd 1.8%, Reliance Power Ltd 1.5%, Idea Cellular Ltd 1.3%, Adani Power Ltd 1.3%, Jindal Steel & Power Ltd 1.2%.
■ 12.15pm: Banking stocks fell. Yes Bank Ltd 2%, Union Bank Of India 1.2%, Jammu & Kashmir Bank 1.1%, DCB Bank 1%, Dena Bank 1%, Andhra Bank 0.9%, Oriental Bank of Commerce 0.8%, Axis Bank 0.6%, Kotak Mahindra Bank 0.5%, IndusInd Bank fell 0.4%.
■ 12.10pm: Mindtree Ltd fell 2.5% to Rs518. Brokerage firm ICICI Securities has downgraded the stock to hold from Buy. Currently, the stock has eight buys, 10 holds and 15 sells recommendations from brokerage firms, according to Bloomberg data.
■ 12.00 noon: Kelton Tech Solutions Ltd gained as much as 3.66% to Rs114.65 per share after the company said it formed a partnership with BEC (Systems Integration). On the BSE, 5,592 shares were traded in the counter so far, compared with average daily volumes of 13,240 shares in the past one quarter. The stock had hit a high of Rs 114.65 and a low of Rs 110.65 so far during the day. The stock hit a 52-week high of Rs 178.90 on 15 June 2016. The stock hit a 52-week low of Rs 79 on 18 October 2016.
■ 11.30am: BSE Sensex trades lower by 30 points, or 0.10%, to 31,074, while the Nifty 50 falls 19 points, or 0.20%, to 9,588.
■ 11.15am: Wipro Ltd fell 2% to hit three week low to Rs253.80. The stock fell for the sixth consecutive sessions and declined 10% in this period. So far this year it gained 7%.
■ 10.50am: Raymond Ltd fell 2.5% to Rs712.25 after SEBI opened preliminary enquiry against Raymond over alleged corporate governance lapses relating to the sale attempt of JK House.
■ 10.40am: Reliance Industries Ltd shares rise 2.6% to Rs1,346.55 after huge block deal. Around 1.02 million shares of the company changed hands in a block deal, according to Bloomberg report. However, details of the buyers and sellers were not known.
■ 10.25am: Metal stocks witness a considerable fall. BSE metal index declines by 0.95%. Hindalco shares fall by 1.45%, Jindal Steel by 1.34%, Vedanta by 1.28%, SAIL by 1.15%, Hindustan Zinc by 0.84%.
■ 10.00am: Banking shares edge higher after the central bank said it had identified 12 of the largest loan defaulters and will order lenders to start bankruptcy proceedings against them, without disclosing any account names. SBI was trading up 0.2%, having risen as much as 0.7%, while Punjab National Bank (PNB) was 0.4% up.
■ 9.25am: BSE Sensex trades higher by 24 points, or 0.08%, to 31,128, while the Nifty 50 rises 3 points, or 0.03%, to 9,609.
■ 9.22am: Alok Industries Ltd lost 16.39% to Rs2.55 per share as it features in the list on which the Insolvency and Bankruptcy Code can be implemented. In October 2016, the board of directors gave the approval to the company to approach the Board of Industrial and Financial Reconstruction (BIFR) following an erosion in its net worth by more than 50% from peak levels.
■ 9.20am: MCX gained as much as 2.16% to Rs1,070 per share as Sebi allowed options trading in commodities for deepening the market but permitted each exchange to launch these contracts for only one product initially, while asking bourses to follow robust risk management measures.
■ 9.18am: Emkay Global Financial Services lost as much as 4% to Rs130.95 per share after the company has entered into an exclusive pact with DBS Bank arm DBS Vickers Securities (Singapore) for co-branding and distribution of equity research to the latter’s global clients.
■ 9.15am: Gitanjali Gems Ltd gained as much as 7.93% to Rs70.75 per share after its arm Nakshatra gets Sebi nod for an IPO.
■ 9.12am: Greaves Cotton gained as much as 3.28% to Rs162.35 per share after it pact with Pinnacle Engines to grant license for manufacturing & sale of internal combustion engines.
■ 9.09am: The rupee was trading at 64.32 a dollar, up 0.04% from its Tuesday’s close of 64.34. The rupee opened at 64.34 a dollar and touched a high and a low of 64.31 and 64.34, respectively.
■ 9.05am: Asian currencies were trading higher. South Korean won rose 0.170%, Philippines peso 0.129%, Thai baht 0.062%, China renminbi 0.028%, Japanese yen lost 0.027%, Indonesian rupiah 0.015% and Malaysian Ringgit gained 0.012%. However, Hong Kong dollar 0.083%, China offshore 0.029%, Taiwan dollar 0.066% and Singapore dollar 0.087% were trading lower.
With inputs from PTI