Market Wrap: Sensex closes 141 points higher, Nifty at 10545, PNB shares fall 12%
BSE Sensex closed higher by 141.52 points at 34,297.47, while the Nifty 50 ended 44.60 points up at 10,545.50. Here are the highlights from the markets
Last Modified: Thu, Feb 15 2018. 05 04 PM IST
- 3.34 pm ISTClosing bell
- 2.32 pm ISTMarket update
- 2.30 pm ISTKridhan Infra unit gets order worth Rs255 crore
- 2.27 pm ISTRupee trades higher against US dollar, bond yield rises
- 12.50 pm ISTMarket update
- 12.47 pm ISTShree Cement commissions new cement grinding unit
- 12.45 pm ISTWPI inflation eases to 2.84% in January
- 11.42 am ISTAxis Bank sells transactions guaranteed by PNB
- 11.40 am ISTRepco Home Finance shares fall after Q3 result
- 10.22 am ISTMarket update
- 10.17 am ISTBanking stocks trade higher
- 10.15 am ISTNestle India shares gain 3%
- 10.13 am ISTJewellery stocks trade lower
- 9.40 am ISTPNB shares down over 7%
- 9.37 am ISTGitanjali Gems shares tank 18%
- 9.35 am ISTJet Airways shares decline 3% after Q3 result
- 9.33 am ISTHousehold inflation expectations have subsided
- 9.30 am ISTRupee opens higher against US dollar
- 9.28 am ISTMarket update
- Mumbai: Benchmark indices BSE Sensex and NSE Nifty closed higher on Thursday following gains in global stock markets. However, BSE midcap and smallcap fell 0.46% and 1.27%, respectively. Punjab National Bank shares declined for a second consecutive session after it unearthed fraudulent transactions of around $1.77 billion. PNB shares closed nearly 12% lower. Among the sectoral indices on BSE, metal, oil and gas, bank and FMCG led the gains, while telecom, capital goods, consumer durables and realty ended lower. ICICI Bank, Infosys, PowerGrid and ONGC were major gainers, whereas Hero MotoCorp, Tata Steel, Bharti Airtel and L&T were among the top losers. Here are the highlights from the markets.
- 3.34 pm IST Closing bellBSE Sensex closed higher by 141.52 points, or 0.41%, to 34,297.47, while the Nifty 50 rose 44.60 points, or 0.42%, to close at 10,545.50.
- 2.27 pm IST Rupee trades higher against US dollar, bond yield risesThe Indian rupee was trading at 63.90, up 0.31% from its previous close of 64.09. The local currency opened at 63.94 and touched a high of 63.87 a dollar. The 10-year government bond yield gained nearly 11 basis points after surging US treasury yield worried traders that it will curb inflows into the Asian nation’s sovereign debt. Higher international crude oil prices also weighted the sentiment. India’s 10-year bond yield was at 7.6% from its Wednesday’s close of 7.5%.
- 12.50 pm IST Market updateBSE Sensex traded higher by 313.72 points, or 0.92%, to 34,469.67, while the Nifty 50 rose 86 points, or 0.82%, to 10,586.90. All the sectoral indices on BSE, except consumer durables, traded higher led by metal, which was up 1.79%, IT 1.22% and Bankex 1.11%. BSE MidCap was up 0.33%, whereas SmallCap fell 0.06%.
- 11.42 am IST Axis Bank sells transactions guaranteed by PNBAxis Bank informed the stock exchanges on Thursday that the bank has sold down all the transactions which it had undertaken against the Letter of Undertakings (LoUs) issued by Punjab National Bank. These transactions were, however, undertaken against authenticated SWIFT LoUs, the bank assured. Shares traded 0.30% up at Rs545.60.
- 10.15 am IST Nestle India shares gain 3%Nestle India Ltd shares rose 3.3% to Rs7,497 after Swiss packaged food company Nestle SA has finally joined the Rs10,000 crore sales club in India—more than a century after it entered the burgeoning market to sell Swiss condensed milk as a trader. On Wednesday, its local entity Nestle India Ltd reported total sales at Rs10,135.11 crore for the year ended December 2017. The maker of Maggi noodles, Kit Kat chocolates and Nescafe instant coffee mixes follows a January-December accounting year.
- 9.40 am IST PNB shares down over 7%Punjab National Bank shares fell further by 7.5% to Rs138.50 after the bank said on Wednesday that it unearthed fraudulent transactions of around Rs11,400 crore in one of its branches in Mumbai and filed a complaint with the Central Bureau of Investigation (CBI) on the fraud amid concern that the contagion could spread to other banks.
- 9.37 am IST Gitanjali Gems shares tank 18%Gitanjali Gems Ltd shares slumped 18% to Rs48.05 after Punjab National Bank said on Wednesday it had been defrauded of about Rs11,400 crore by jeweller Nirav Modi, his maternal uncle Mehul Chinubhai Choksi, and other relatives through a clutch of companies they own.
- 9.35 am IST Jet Airways shares decline 3% after Q3 resultJet Airways India Ltd shares fell 3.2% to Rs777.65 after the company reported a 45.9% drop in standalone net profit to Rs165.2 crore in the December quarter from a year earlier, hit by a sharp jump in fuel expense. Net profit fell despite a 10.43% increase in revenue from operations to Rs6,086.2 crore during the third quarter when both domestic and international traffic grew.
- 9.33 am IST Household inflation expectations have subsidedThe share of households expecting very high inflation has fallen consistently since 2014, according to disaggregated data released by RBI.
Household inflation expectations have subsided https://t.co/rwnluBNZhx— Livemint (@livemint) February 15, 2018
- 9.30 am IST Rupee opens higher against US dollarThe Indian rupee strengthened against the US dollar on Thursday, tracking gains in the Asian currencies market. The home currency was trading at 63.96, up 0.21% from its previous close of 64.09. The local currency opened and touched a high of 63.94 a dollar. India’s 10-year bond yield was at 7.561% from its Wednesday’s close of 7.491%.