Market Wrap: Sensex closes 294 points up, Nifty above 10500 ahead of inflation data
6 min read.Updated: 12 Feb 2018, 05:03 PM ISTLivemint
BSE Sensex closed higher by 294.71 points at 34,300.47, while the Nifty 50 rose 84.80 points to close at 10,539.75. Here are the latest updates from the markets
Mumbai: Benchmark indices BSE Sensex and NSE Nifty closed higher on Monday, recovering from their biggest weekly drop since August. Gains in Asian and global stock markets also boosted sentiment. Sensex closed 294 points up at 34,300.47, while Nifty ended 84.80 points higher at 10,539.75. BSE MidCap and SmallCap rose 1.31% and 1.60%, respectively, outshining the Sensex. All the sectoral indices on BSE, except IT and Teck, ended higher led by power, realty, utilities and capital goods. Tata Steel, IndusInd Bank, Yes Bank and PowerGrid were top gainers, whereas SBI, Infosys, M&M and ITC were among the major losers. Here are the highlights from the markets:
12 Feb 2018, 03:34:00 PM IST
BSE Sensex closed higher by 294.71 points, or 0.87%, to 34,300.47, while the Nifty 50 rose 84.80 points, or 0.81%, to close at 10,539.75.
12 Feb 2018, 02:52:00 PM IST
BSE Sensex traded higher by 322.79 points, or 0.95%, to 34,328.55, while the Nifty 50 rose 97.05 points, or 0.93%, to 10,552.
Reliance Infrastructure said the Competition Commission of India (CCI) has approved sale of its integrated Mumbai power business to Adani Transmission in a Rs18,800 crore deal. Reliance Infra shares gained 3.46% to Rs467.60, Adani Transmission shares rose 3.22% to Rs211.35. (PTI)
12 Feb 2018, 02:47:00 PM IST
Finolex Cables Ltd shares gain as net profit rises
Finolex Cables Ltd shares rose 3.08% to Rs690.80 after the company said its December 2017 quarter net profit rose Rs74.87 crore from Rs68.44 crore a year ago.
12 Feb 2018, 02:45:00 PM IST
Shipping Corp. of India shares rise 9%
Shares of Shipping Corp. of India Ltd gained as much as 9.10% to Rs84.55 in anticipation of good results and the board meeting was rescheduled to 13 February 2017.
12 Feb 2018, 02:42:00 PM IST
Rupee strengthens against US dollar ahead of CPI data
The Indian rupee strengthened against the US dollar on Monday, tracking gains in Asian currencies. The home currency was trading at 64.31 a dollar, up 0.13% from its Friday’s close of 64.40. The rupee opened at 64.26 a dollar and touched a high and a low of 64.24 and 64.32, respectively. The 10-year bond yield was trading at 7.497%, compared to its previous close of 7.49%.
12 Feb 2018, 02:08:00 PM IST
Zuari Agro Chemicals shares surge 8% as profit increases
Zuari Agro Chemicals Ltd shares rose 8.69% to Rs536.15 after the company posted a 32% jump in its standalone net profit to Rs48.02 crore in third quarter of the current fiscal.
12 Feb 2018, 02:05:00 PM IST
Indian Bank shares rises 6% after earnings
Indian Bank Ltd on Monday said its December-quarter net profit fell 18.85% on the back of higher provisions and lower other income. The bank has posted a net profit Rs303.06 crore for the three months ended 31 December from Rs373.48 crore in the same quarter last year. Shares rose 6.09% to Rs360.
12 Feb 2018, 02:03:00 PM IST
Sharda Motor shares jump as net profit rises in Q3
Sharda Motor Industries Ltd shares surged as much as 7.5% to Rs2,560 after the company reported a net profit of Rs17.15 crore in the December 2017 quarter, up from Rs11.83 crore a year ago.
12 Feb 2018, 01:58:00 PM IST
Reliance Infra shares rises 4%
Reliance Infrastructure Ltd gained as much as 4.56% to Rs311.60 per share after it received Letter of Approval from NTPC for Flue Gas Desulphurisation work for its power plant in Jhajjar, Haryana for the order value of project is Rs 567 crore.
12 Feb 2018, 01:27:00 PM IST
BSE Sensex traded higher by 220.67 points, or 0.65%, to 34,226.43, while the Nifty 50 rose 60.80 points, or 0.58%, to 10,515.75. BSE MidCap and BSE SmallCap were up 1.41% and 1.75%, respectively. All the sectoral indices on BSE except IT and teck traded higher led by healthcare, industrial, capital goods and realty.
12 Feb 2018, 12:25:00 PM IST
LT shares rise on Rs2,200 crore EPC contract
Larsen and Toubro Ltd shares gained 1.93% to Rs1,353.15 after its unit L&T Hydrocarbon Engineering has signed a major field development EPC contract with Al Dhafra Petroleum Operations Co. Ltd, Abu Dhabi, UAE, with a value in excess of Rs2,200 crore.
12 Feb 2018, 12:20:00 PM IST
IDBI Bank shares jump 11% after CARE revises outlook on bonds
IDBI Bank Ltd shares surged as much as 11.31% to Rs69.90 per share after Lower Tier II Bonds outlook was revised from negative to stable from CARE ratings
12 Feb 2018, 12:15:00 PM IST
Ol India shares gain on Q3 result
Shares of Oil India rose 2.71% to Rs366 on BSE after net profit surged 55.1% to Rs705.22 crore on 13.52% rise in total income to Rs3,065.30 crore in Q3 December 2017.
12 Feb 2018, 12:13:00 PM IST
Marico shares gain as net profit rises
Marico Ltd shares gained as much as 4.56% to Rs311.60 per share after the company reported a 16.51% increase in its consolidated net profit at Rs223.28 crore for the quarter ended December 2017 on account of higher income led by market share gains.
12 Feb 2018, 11:30:00 AM IST
Steel Strips Wheels shares rise 6%
Steel Strips Wheels Ltd gained as much as 6.56% to Rs1,114.90 per share after it bagged an order of Caravan Wheels from Europe.
12 Feb 2018, 11:27:00 AM IST
Kitex Garments shares fall 10% as net profit declines
Shares of Kitex Garments dropped as much as 10.82% to Rs258.85, the most in six months, after its net profit declined 45% to Rs17.62 crore for the quarter ended December 2017 against Rs31.80 crore for the same quarter last year.
12 Feb 2018, 11:23:00 AM IST
Essar Steel ownership: final bids today, three-way fight likely
A combine of ArcelorMittal and Nippon Steel, Tata Steel and NuMetal Mauritius, a consortium of Russia’s VTB Capital and the Ruia family, are likely to submit binding bids for debt-laden Essar Steel.
Shares of National Aluminium Co Ltd gained as much as 7.20% to Rs78.95 after the company reported five folds rise in its net profit to Rs721.78 crore for the quarter ended December against Rs 143.92 crore for the same quarter last year
12 Feb 2018, 11:17:00 AM IST
Cadila Healthcare shares gain following completion of USFDA inspection
Cadila Healthcare gained as much as 5.35% to Rs433.05 per share after it completed FDA inspection at Moraiya facility and no observation was issued as it said on Friday on the exchange.
12 Feb 2018, 10:37:00 AM IST
BSE Sensex traded higher by 212.41 points, or 0.62%, to 34,218.17, while the Nifty 50 rose 59.75 points, or 0.57%, to 10,514.70. Meanwhile, the MidCap was up 1.23% and SmallCap rose 1.57%.
12 Feb 2018, 10:35:00 AM IST
Fortis Healthcare shares fall 3%
Shares of Fortis Healthcare lost as much as 3.14% to Rs143.65 per share after the promoters Malvinder and Shivinder Singh stepped down from the company’s board, allegations of financial misappropriation surfaced against the brothers. According to Bloomberg, the brothers took at least Rs500 crore out of the publicly traded hospital company they controlled without board approval about a year ago.
12 Feb 2018, 10:33:00 AM IST
Tata Steel shares rise over 5% on positive Q3 result
Tata Steel shares gained as much as 5.02% to Rs718 per share after its net grew close to five folds to Rs1,135.92 crore for the quarter ended December 2017 from Rs231.90 for the same quarter last year.
12 Feb 2018, 10:30:00 AM IST
Amara Raja Batteries shares up over 7% after Q3 result
Amara Raja Batteries Ltd gained as much as 7.6% to Rs859.70 per share after it reported 20% rise in its net profit to Rs134.45 crore and 3.57% rise in its net sales to Rs1,553.46 crore.
12 Feb 2018, 09:53:00 AM IST
SBI shares trade lower
State Bank of India shares fell 2.88% to Rs287.85. The company reported a net loss of Rs2,416 crore for the fiscal third quarter after setting aside funds to cover rising bad loans and losses on its bond portfolio. It had reported a net profit of Rs1,582 crore in the September quarter.
12 Feb 2018, 09:28:00 AM IST
ONGC shares rise
Oil and Natural Gas Corp. Ltd shares rose 3.09% to Rs193.55. A consortium of Indian companies led by ONGC Videsh Ltd has bought a 10% stake in the UAE’s offshore oil and gas field Zakum.
12 Feb 2018, 09:47:00 AM IST
Bank of Baroda shares gain over 5%
Bank of Baroda shares gained 5.66% to Rs165.20. The company reported that its net NPAs or bad loans fell to 4.97% of the net advances by the end of third quarter for this fiscal from 5.43% in year ago period. The company, however, registered a decline of 56% in its net profit at Rs112 crore for the third quarter ended December.
12 Feb 2018, 09:45:00 AM IST
CG Power shares rise as unit gets $55 million order
CG Power and Industrial Solutions Ltd said its unit CG Power Systems Indonesia has bagged an order from Indonesian state utility PT PLN (Persero) for manufacturing and supply of 64 units of power transformers valued at $55 million. Shares rise 2.71% to Rs90.85.
12 Feb 2018, 09:35:00 AM IST
Rupee opens higher against US dollar
The Indian rupee strengthened against the US dollar, tracking gains in Asian currencies. At 9.09am, the home currency was trading at 64.26 a dollar, up 0.21% from its Friday’s close of 64.40. The rupee opened at 64.26 a dollar and touched a high and a low of 64.24 and 64.29, respectively. The 10-year bond yield was trading at 7.46% compared to its previous close of 7.49%.
12 Feb 2018, 09:25:00 AM IST
BSE Sensex traded higher by 245.36 points, or 0.72%, to 34,251.12, while the Nifty 50 rose 79.10 points, or 0.76%, to 10,534.05.