Market Wrap: Sensex closes 176 points higher, Nifty above 10,500 led by metal, PSU bank stocks
BSE Sensex closed higher by 176.26 points to 33,969.64, while the Nifty 50 rose 61.60 points to close at 10,504.80. Here are the latest updates
Last Modified: Thu, Jan 04 2018. 04 35 PM IST
- 3.34 pm ISTClosing bell
- 3 pm ISTIdea Cellular to raise Rs3,250 crore
- 2.57 pm ISTSaksoft completes Faichi Solutions purchase
- 2.55 pm ISTEuropean shares trade higher
- 2.53 pm ISTRupee trades higher against US dollar
- 1.55 pm ISTMarket Update
- 1.53 pm ISTGlenmark Pharmaceuticals launches biosimilar of Adalimumab
- 1.50 pm ISTControl Print board approves QIP
- 1.47 pm ISTOptiemus Infracom shares surge on launch of new product
- 12.58 pm ISTMarket update
- 12.30 pm ISTVeer Energy shares surge over 5% on new order
- 11.48 am ISTIndia’s services sector growth improves in December
- 11.45 am ISTPSU Bank stocks trade higher
- 10.33 am ISTMarket update
- 10.30 am ISTUnichem Laboratories shares gain as board to consider buyback
- 10.28 am ISTAllahabad Bank shares fall on RBI action
- 10.25 am ISTSJVN shares jump 11% on share buyback plan
- 9.40 am ISTTata Motors shares fall on US JLR sales numbers
- 9.38 am ISTNitesh Estates shares jump 20% on report on Fosun Group investment
- 9.35 am ISTONGC shares gain on rising oil prices
- 9.33 am ISTRupee opens marginally higher
- 9.23 am ISTMarket update
- Mumbai: Benchmark Sensex rebounded by 176 points to finish at 33,970 on Thursday, while the Nifty reclaimed the 10,500-mark as investors piled into recently-battered metal, capital goods and consumer durables stocks, PTI reported. The Sensex hovered in a range of 33,995.40 to 33,802.13 before finishing at 33,969.64, up 176.26 points, or 0.52%. The gauge had lost 263.45 points in the previous three sessions. The NSE Nifty also closed higher by 61.60 points, or 0.59%, at 10,504.80 after shuttling between 10,513 and 10,441.45. Investor sentiment was bolstered after a monthly survey showed the Indian services sector returned to marginal growth in December as new orders broadly stabilised. Foreign institutional investors bought equities worth Rs96.31 crore on Wednesday, while domestic institutional investors sold shares worth Rs269.20 crore, as per the provisional data.
- 3.34 pm IST Closing bellBSE Sensex closed higher by 176.26 points, or 0.52%, to 33,969.64, while the Nifty 50 rose 61.60 points, or 0.59%, to close at 10,504.80.
- 3 pm IST Idea Cellular to raise Rs3,250 croreIdea Cellular Ltd said its board of directors approved issuance of equity shares to Aditya Birla group entities for an aggregate amount of Rs3,250 crore. The board will also consider raising further capital of Rs3,500 crore via preferential issue, QIP or rights issue. Shares rose 1.66% to Rs104.25.
- 2.55 pm IST European shares trade higherEurope’s major stock markets advanced in opening deals on Thursday, with London approaching an all-time peak amid a broad global rally. UK’s FTSE 100 index gained 0.3% to 7,696.62 points. In the eurozone, the Paris CAC 40 added 0.5% to 5,360.01 and Frankfurt’s DAX 30 rose 0.7% to 13,065.98 points.
- 2.53 pm IST Rupee trades higher against US dollarThe Indian rupee on Thursday strengthened against US dollar, tracking gains in the local equity markets. the rupee was trading at 63.45 a dollar, up 0.14% from its Wednesday’s close of 63.54. The 10-year bond yield was at 7.358% compared to its previous close of 7.32%.
- 1.53 pm IST Glenmark Pharmaceuticals launches biosimilar of AdalimumabGlenmark Pharmaceuticals Ltd said it has launched biosimilar of Adalimumab under a licensing agreement with Cadila Healthcare Ltd for the treatment of plaque psoriasis and rheumatoid arthritis. Glenmark Pharma shares traded 0.82% lower to Rs587.40, while Cadila Healthcare shares rose 0.90% to Rs431.65.
- 11.48 am IST India’s services sector growth improves in DecemberThe Indian services sector returned to marginal growth in December as new orders broadly stabilised, according to a monthly survey. Even as there was a turnaround, business activity growth in December was slight and remained well below the average recorded for the survey history as a whole. The seasonally adjusted Business Activity Index improved to 50.9 in December from 48.5 in November, signalling a renewed increase in business activity. (PTI)
- 11.45 am IST PSU Bank stocks trade higherPSU Bank stocks gained after Bloomberg reported that the government will seek Parliament nod for $12.6 billion bank recapitalisation bonds. IDBI Bank Ltd rose 6%, Oriental Bank of Commerce 2%, Bank of India 2%, Bank of Baroda 1.7%, Andhra Bank 1.4%, Canara Bank 1.3%, Punjab National Bank 1.3%, State Bank of India 1.3%, Union Bank of India 1.2%, Indian Bank 1%.
- 9.38 am IST Nitesh Estates shares jump 20% on report on Fosun Group investmentNitesh Estates Ltd hits 20% upper circuit to Rs15.93 after The Times of India reported that Shanghai-based Fosun Group is in advanced discussions to invest Rs800 crore in southern developer Nitesh Estates in what would be the Chinese conglomerate’s first M&A deal in the Indian real estate sector.
- 9.33 am IST Rupee opens marginally higherThe Indian rupee was trading marginally lower against US dollar on Thursday, tracking losses in its Asian peers. The rupee was trading at 63.61 a dollar, down 0.10% from its Wednesday’s close of 63.54. The 10-year bond yield rose ahead of the fresh 10-year bond offering on Friday and as investors await details of bond sales by state governments this quarter. The 10-year bond yield was at 7.349% compared to its previous close of 7.32%