Market Wrap: Sensex, Nifty close higher breaking seven day losing streak
BSE Sensex closed higher by 330.45 points at 34,413.16, while the Nifty 50 rose 100.15 points to close at 10,576.85. Here are the latest updates from markets
Last Modified: Thu, Feb 08 2018. 05 18 PM IST
- 3.34 pm ISTClosing bell
- 2.43 pm ISTMarket update
- 2.40 pm ISTBHEL Q3 net profit rises
- 2.37 pm ISTEuropean shares trade lower
- 2.35 pm ISTBond yield falls further, rupee rises against US dollar
- 1.42 pm ISTNet profit rises for Bajaj Electricals in Q3
- 1.13 pm ISTMarket update
- 1.10 pm ISTPSP Projects shares jump 5% as profit rises
- 1.07 pm ISTSectoral indices
- 1.05 pm ISTHealthcare stocks trade higher
- 11.53 am ISTMarket update
- 11.50 am ISTSteel Strips Wheels shares jump 5%
- 11.48 am ISTPrestige Estates partners with HDFC to boost affordable housing biz
- 11.45 am ISTSRF shares rise as brokerage upgrades stock
- 11.40 am ISTFDC shares gain on Q3 result
- 10.43 am ISTMarket update
- 10.40 am ISTAviation stocks trade higher
- 10.37 am ISTVedanta shares fall after SC cancels mining leases in Goa
- 10.35 am ISTUflex shares drop over 5% on Q3 result
- 10.32 am ISTHexaware Technologies shares trade lower as profit declines
- 10.30 am ISTRBI gets ‘mojo’ back as it warns of budget risks
- 9.53 am ISTSun Pharma shares decline on weak Taro Pharma earnings
- 9.50 am ISTOil marketing companies shares gain as oil prices fall
- 9.47 am ISTCipla shares gain on positive December quarter result
- 9.45 am ISTBond yield falls further, rupee weakens against US dollar
- 9.40 pm ISTMarket update
- Mumbai: Benchmarks BSE Sensex and NSE Nifty closed higher on Thursday ending a seven-day losing streak. BSE Sensex closed 330 points higher, while Nifty 50 ended 100 points up. Outperforming the 30-share index, BSE MidCap and SmallCap gained 1.82% and 2.25%, respectively. All the sectoral indices on BSE except oil and gas ended higher led by healthcare, basic materials and realty. On NSE, Nifty PSU Bank index rallied over 2%. Sun Pharma, Dr. Reddy’s Labs, SBI and Infosys were top gainers, whereas PowerGrid, NTPC, Tata Motors and ONGC were among the major losers. Here are the latest updates from markets:
- 3.34 pm IST Closing bellBSE Sensex closed higher by 330.45 points, or 0.97%, to 34,413.16, while the Nifty 50 rose 100.15 points, or 0.96%, to close at 10,576.85.
- 2.40 pm IST BHEL Q3 net profit risesBharat Heavy Electricals Ltd posted a nearly 64% rise in third-quarter net profit, but missed analysts’ expectations. Net profit rose to Rs153 crore, up from Rs93.54 crore a year ago. Analysts on average had expected a profit of Rs190 crore, according to Thomson Reuters data. Total revenue from operations rose marginally to Rs6,626 crore. Shares traded 0.59% up at Rs94.50. (Reuters)
- 2.37 pm IST European shares trade lowerEuropean stock markets slid at the start of trading as volatility continued to dominate global equities trading. London’s FTSE 100 dropped 0.8% to 7,219.19 points. Frankfurt’s DAX 30 shed 0.7% to 12,506.18 points and the Paris CAC 40 lost 0.5% to 5,229.78. After slumping in the region of 2.5% on Tuesday, Europe’s leading stock markets ended Wednesday’s sessions with gains of between around 1.5 and 2.0%. (AFP)
- 2.35 pm IST Bond yield falls further, rupee rises against US dollarGovernment bond yields extended their recent losses after RBI maintained a neutral policy stance in its recent review. The yield on India’s 10-year government bond was 7.487%, compared to its previous close of 7.530%. Meanwhile, the rupee was trading at 64.26 a dollar, up 0.14% from its previous close of 64.29.
- 1.42 pm IST Net profit rises for Bajaj Electricals in Q3Bajaj Electricals Ltd reported a net profit of Rs36.83 crore in the quarter ended 31 December 2017 versus Rs29.71 crore a year ago. The company’s total income from operations rose to Rs1,145 crore from Rs1,055 crore in December 2016 quarter. Shares traded 0.09% up at Rs487.55.
- 10.37 am IST Vedanta shares fall after SC cancels mining leases in GoaVedanta Ltd shares fell 2.7% to Rs306.70 after the Supreme Court on Wednesday cancelled 88 iron ore mining leases in Goa, dealing a blow to miners including Vedanta Ltd. The existing leases will run till 15 March, after which mining activity has to stop, the court directed.
- 10.30 am IST RBI gets ‘mojo’ back as it warns of budget risksRBI’s monetary policy committee displayed its independent streak, flagging inflationary risks from an expansionary Union budget and shifting toward a more hawkish bent.
RBI gets ‘mojo" back as it warns of budget risks https://t.co/Tk4V8BvQOH— Livemint (@livemint) February 8, 2018
- 9.53 am IST Sun Pharma shares decline on weak Taro Pharma earningsSun Pharmaceuticals Industries Ltd shares fell 2% to Rs538.50 after its arm Taro Pharmaceuticals Industries Ltd reported weak earnings. Gross profit decreased $64.4 million, and as a percentage of net sales was 66.2% compared to 75.9%.
- 9.47 am IST Cipla shares gain on positive December quarter resultCipla Ltd shares rose 6% to Rs601.45 after the company reported a 7% rise in its December quarter net profit to Rs401 crore from Rs375 crore a year earlier. Revenue from India rose 15% to Rs1,601 crore. Domestic revenue accounted for more than a third of the total revenue, which rose 7% to Rs3,914 crore.
- 9.45 am IST Bond yield falls further, rupee weakens against US dollarGovernment bond yields extended their recent losses on Thursday morning after RBI maintained a neutral policy stance in its recent review, which assuaged concerns of a near-term rate hike. Yield on India’s benchmark 10-year government bond was trading at 7.502% from its previous close of 7.53%.The Indian rupee weakened for eight out of nine trading sessions against the US dollar. The home currency was trading at 64.33 a dollar, down 0.1% from its previous close of 64.29. The currency opened at 64.38 and touched a low of 64.39 a dollar.