Back
PremiumMUMBAI :Mumbai: BSE Sensex rose over 300 points to close above the 34,000 mark on Friday. NSE’s Nifty 50 ended over 1% higher on positive beginning of March derivative series and gains in Asian equities. All the sectoral indices on BSE closed higher led by metal, basic materials, healthcare and telecom. Outperforming the Sensex, BSE MidCap and SmallCap gained 1.47% and 1.54%, respectively. Tata Steel, Sun Pharma and Yes Bank were top gainers, whereas Asian Paints, Coal India and Infosys were among the major losers. Friday’s gains came as relief in Indian stock market, which had been under pressure this month following a disappointing budget and a Rs11,400 crore PNB fraud. Here are the highlights from the markets:
BSE Sensex closed higher by 322.65 points, or 0.95%, to 34,142.15, while the Nifty 50 rose 108.35 points, or 1.04 %, to close at 10,491.05.
Sun Pharma shares gained 3.26% to Rs559.80 after the company said the USFDA has issued a Form 483 to the company with three observations after completing inspection at its Halol facility in Gujarat.
Punjab National Bank shares trade 0.65% lower at Rs113.90 following reports that as many as 10,000 debit and credit card accounts of the bank were compromised in a data breach.
Shares were mixed Friday, with European stock benchmarks slipping after a day of gains in Asia. In early trading, Germany’s DAX index edged 0.1% lower to 12,454.01 points and France’s CAC 40 lost 0.1% to 5,303.40. London’s FTSE 100 was off 0.2% at 7,234.96. On Wall Street, the future for the Dow Jones was up 0.3% and that for the Standard & Poor’s 500 index rose 0.2%.
BSE Sensex traded higher by 301.45 points, or 0.89%, to 34,120.95, while the Nifty 50 rose 103.70 points, or 1 %, to 10,486.40.
The Indian rupee on Friday strengthened against the US dollar, tracking gains in local equity and Asian currencies market. At 1.55pm, the rupee was trading at 64.81, up 0.37% from its previous close of 65.05. The local currency opened at 64.96 a dollar. The Yield on 10-year government bonds was at 7.724% compared to its Thursday’s close of 7.746%. Bond yields and prices move in opposite directions.
Bharti Infratel Ltd shares traded 1.50% up at Rs339.20. Mint reported that Bharti Infratel Ltd and Indus Towers Ltd—two of India’s largest telecom tower firms—are planning to merge their businesses.
BSE Sensex traded higher by 250.80 points, or 0.74%, to 34,070.30, while the Nifty 50 rose 86.90 points, or 0.84%, to 10,469.60. All the sectoral on BSE traded in green led by metal, basic materials, telecom and healthcare. BSE Midcap and SmallCap were up 1.14% and 1.21%, respectively.
While Mehul Choksi-promoted Gitanjali Gems Ltd has lost around Rs435.91 crore or nearly 60% of its market value ever since the fraud at Punjab National Bank (PNB) came to light, the steep erosion has hammered other jewellery stocks as well. Read more
Larsen and Toubro Ltd said its construction unit has won orders worth Rs1,266 crore across various business segments. Shares traded 0.22% lower at Rs1,294.15.
BSE Sensex traded higher by 143.39 points, or 0.42%, to 33,962.89, while the Nifty 50 rose 52.40 points, or 0.50%, to 10,435.10.
Sun Pharmaceuticals Industries Ltd shares rose 5% to Rs566. US food and drug regulator inspecting its Halol plant which is expected to complete today, according to a news report. The drug regulator started re-inspection on 12 February.
Merck Ltd shares gained 5.09% to Rs 1517.50 after the company reported a profit of Rs27.27 crore in the December 2017 quarter versus Rs19.44 crore a year ago.
Dilip Buildcon Ltd shares rose 2.2% to Rs978 after the company said it bagged engineering, procurement, and construction project worth Rs157 crore from Karnataka government.
BSE Sensex traded higher by 96.17 points, or 0.28%, to 33,915.67, while the Nifty 50 rose 33.05 points, or 0.32%, to 10,415.75. Meanwhile, BSE MidCap and SmallCap rose 1%. All the sectoral indices on BSE, except capital goods, traded higher led by metal, which rose 2.20%, healthcare 1.85%, and basic materials 1.56%.
Adani Transmissions Ltd shares rose 2.5% to Rs212.75 after the company said it received letter of intent for one inter-state transmission project in Rajasthan.
Bank of Baroda shares gained 1.5% to Rs145.30 after the bank clarified to the exchanges that it has no exposure to LoUs issued by PNB in the alleged fraud case involving Nirav Modi.
Federal Bank Ltd shares rose 3.5% to Rs93.05 after the bank said in a notice to BSE that its board approved acquiring 26% stake in Equirus Capital.
Public sector banks are barely making profits, seeing an enormous erosion of capital and 11 of them are under the RBI’s prompt corrective action plan.
It's sell or shrink as public sector banks forage for growth capital
— Mint Mark to Market (@livemint_m2m) February 23, 2018
Public sector banks are barely making profits and are seeing an enormous erosion of capital https://t.co/UZ7Ow17eHe @aparnaviyer02
PSU Bank stocks gain. IDBI Bank rose 2.2%, Syndicate Bank 1.6%, Punjab National Bank 1.3%, Bank of Baroda 1.2%, Union Bank of India 1.1%, Indian Bank 1.1%, Andhra Bank 0.9%, Allahabad Bank 0.9%, Oriental Bank of Commerce 0.9%, Canara Bank 0.7% and State Bank of India was up 0.6%.
Fortis Healthcare Ltd shares fell 1.4% to Rs144.30 after National Stock Exchange said all existing F&O contracts will expire on 28 March, and no fresh contracts will be available if the firm fails to submit results for quarters ended September and December 2017 by 1 March.
Jubilant Life Sciences Ltd shares fell 6.3% to Rs929.25 after huge block deal. Around 3.2% stake or 5.12 million shares of the company changed hands in a block deal, Bloomberg reported. However, details of the buyers and sellers were not known.
The Indian rupee on Friday strengthened against the US dollar, tracking gains in its Asian peers. The local currency opened at 64.96 a dollar. The home currency was trading at 64.87, up 0.27% from its previous close of 65.05. The yield on 10-year government bonds was at 7.740% compared to its Thursday’s close of 7.746%.
BSE Sensex traded higher by 124.59 points, or 0.37%, to 33,944.09, while the Nifty 50 rose 38.15 points, or 0.37%, to 10,420.85.
Download the App to get 14 days of unlimited access to Mint Premium absolutely free!
