MUMBAI :Mumbai: The BSE Sensex and NSE Nifty closed higher for the sixth straight day on Thursday helped by gains in IT stocks. During the day, the benchmark indices turned negative dragged by metal and bank stocks. The 30-share index closed at 33,588.08, up 26.53 points, or 0.08%. The NSE Nifty, after shuttling between 10,307.30 and 10,374.30, closed higher by 6.45 points, or 0.06%. Major gainers were Infosys, Sun Pharma, Reliance Industries, Power Grid and Axis Bank, whereas Dr. Reddy’s Labs, Adani Ports, Bajaj Auto, Asian Paints and NTPC were among the top losers. Here are the latest updates from the markets:
Closing bell
BSE Sensex closed higher by 26.53 points, or 0.08%, at 33,588.08, while the Nifty 50 inched up 6.45 points, or 0.06%, to close at 10,348.75.
Top gainers/losers
Infosys, Sun Pharma and Reliance Industries were the top gainers today with gains to the tune of 2.60%, 1.78% and 1.60%, respectively. Meanwhile, shares of Dr. Reddy’s Labs, Bajaj Auto and Adani Ports fell 2.10%, 2% and 1.65%, respectively.
Monsanto India reports Q2 loss
Monsanto India Ltd reported a loss of Rs6.39 crore in the quarter ended 30 September, compared to a profit of Rs2.79 crore in the same quarter last year (Indian accounting standards). Revenue from operations stood at Rs96 crore, down from Rs102 crore a year ago. The company declared an interim dividend of Rs15 per share. Shares traded 0.76% lower at Rs2,493.20. (Reuters)
Welspun Corp. receives contract
Welspun Corp. Ltd said it has received a contract to provide 392K MTs pipes for a water project in MENA region, according to a BSE filing. Shares were trading 2.805 up at Rs137.70.
President approves ordinance to amend bankruptcy code
The ministry of finance said that the President has given assent to the ordinance to amend the Insolvency and Bankruptcy Code.
The President of India has given his assent today to the Ordinance to amend the Insolvency and Bankruptcy Code, 2016.
— Ministry of Finance (@FinMinIndia) November 23, 2017
Market update
BSE Sensex traded lower by 27.25 points, or 0.08%, at 33,534.30, while the Nifty 50 fell 9.75 points, or 0.09%, to 10,322.55.
Sectoral indices
The Nifty Metal index fell 0.79% led by Hindalco, which was down 1.86%, APL Apollo Tubes 1.60%, Vedanta 1.50% and Jindal Steel 1.30%. The Nifty PSU Bank fell 0.82%. Meanwhile, the Nifty IT was up 0.95% led by Infosys, which rose 2.55%, HCL Technologies 1.45% and Tech Mahindra 1.41%.
European shares trade lower
European shares tumbled on Thursday, tracking more timid Wall Street trading as volumes thinned out for the Thanksgiving holiday. The pan-European STOXX 600 slid 0.3%, while euro zone stocks dipped 0.2%. Britain’s FTSE 100 sank 0.5% and Germany’s DAX down 0.4%. (Reuters)
Market update
BSE Sensex traded lower by 90.39 points, or 0.27%, at 33,471.16, while the Nifty 50 fell 30.65 points, or 0.30%, to 10,311.65.
Zydus Cadila drug gets US FDA approval
Zydus Cadila tentative approval from the US FDA to market Tadalafil tablets, used for the treatment of erectile dysfunction and symptoms of benign prostatic hyperplasia, Cadila Healthcare Ltd said in a regulatory filing. Shares were trading 0.41% up at Rs444.50.
Jaiprakash Power gets notice from SBICAP
Jaiprakash Power Ventures Ltd said it has received a notice from SBICAP regarding a unit of the company defaulting on interest payment, according to a BSE filing. The company’s shares traded at Rs7.25, up 0.42%.
Market update
BSE Sensex traded higher by 42.59 points, or 0.13%, at 33,604.14, while the Nifty 50 gained 15.80 points, or 0.15%, to 10,358.10.
Biocon shares surge after drug launch announcement
Biocon said it has launched KRABEVA, a biosimilar Bevacizumab for the treatment of patients with metastatic colorectal cancer and other lung, kidney, cervical, ovarian and brain cancers in India. The company’s shares jumped 1.93% to Rs416.50.
PC Jeweller shares rise on buy rating by brokerage firm
PC Jeweller Ltd rose 3.3% to Rs373 after brokerage firm Motilal Oswal gave buy rating on the stock and increased its target to Rs490 a share, up 36% from its current market price.
Aegis Logistics shares gain
Aegis Logistics Ltd rose 2.4% to Rs239.90 after brokerage house UBS has initiated buy rating on the stock with price target of Rs280 a share, up 20% from its Wednesday’s close.
Kansai Nerolac Paints shares up on CLSA upgrade
Kansai Nerolac Paints Ltd rose 2.3% to Rs494.15 after CLSA initiated buy rating on the stock with price target of Rs600 a share, up 24% from its Wednesday’s close.
Future Retail shares rise 3.4%
Future Retail Ltd rose 3.4% to Rs593 after broking firm HSBC has maintained its buy rating on the stock and increased its price target to Rs730 a share from Rs590 a share.
Sensex, Nifty trade flat
BSE Sensex traded little changed at 33,566.60, up 5.05 points, or 0.02%, while the Nifty 50 edged down 1.30 points, or 0.01%, to 10,341.
Insurance stocks trade lower
Recently listed Insurance companies trading lower. HDFC Standard Life Insurance Co. Ltd fell 2%, ICICI Lombard General Insurance Co. Ltd 1%, ICICI Prudential Life Insurance Co. Ltd 3.5% and Max Financial Services Ltd 2.6%.
Quess Corp shares fall on Thomas Cook’s stake sale announcement
Quess Corp. Ltd fell 6% to Rs858.85 after Thomas Cook said it will sell up to 75 lakh shares (5.4%) in Quess Corp. via an offer for sale, at Rs800 per share, on 23-24 November. Thomas Cook India Ltd shares rose 4%.
Videocon shares fall 3%
Videocon Industries Ltd fell 3% to Rs12.25. On Wednesday, IFCI sold 22.50 lakh shares or 0.8% equity stake at Rs12.82 each in the company.
Rupee trades marginally higher against US dollar
The Indian rupee on Thursday strengthened marginally against the US dollar, tracking gains in the local equity and Asian currencies markets. The rupee opened at 64.85 a dollar. At 9.15am, the home currency was trading at 64.81 a dollar, up 0.13% from its Wednesday’s close of 64.93.
10-year bond yield falls
The 10-year bond yield was at 6.946%, compared to its previous close of 6.958%. Bond yields and prices move in opposite directions.
Asian currencies trade higher
Asian currencies were trading higher as dollar weakened on the latest US Federal Reserve minutes, which showed some policy makers expressing concern over low inflation. China renminbi was up 0.27%, while Indonesian rupiah, Malaysian ringgit and China offshore rose 0.07% each. However, Japanese yen was down 0.13% and Taiwan dollar 0.11%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.21, down 0.01% from its previous close of 93.220.
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