India must lead the transition to green energy https://t.co/6zbHSFEA8P— Livemint (@livemint) March 11, 2018
Market Wrap: Sensex closes 610 points up, Nifty gains nearly 2%, telecom, FMCG stocks rally
BSE Sensex closed higher by 610.80 points at 33,917.94, while the Nifty 50 rose 194.55 points to close at 10,421.40. Here are the latest updates from the markets
Last Modified: Mon, Mar 12 2018. 05 06 PM IST
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- 9.47 am ISTRupee trades higher against US dollar ahead of key CPI, IIP data
- 9.35 am ISTMarket update
- Mumbai: The markets rallied on Monday following firm global cues after trade war worries eased last week. BSE Sensex closed 610.80 points higher, while NSE’s Nifty 50 ended 194.55 points up led by telecom, FMCG and metal stocks. Moreover, Asian and European stocks gained as trade war concerns took a backseat to economic optimism following a US jobs report on Friday that showed that the American economy continued to strengthen without the prior month’s rapid wage gains that stoked inflation fears. However, analysts said that Indian markets will focus on key macro IIP and CPI for January and February, respectively, due to be released after 5.30pm. Here are the latest updates from the markets:
- 3.36 pm IST Closing bellBSE Sensex closed higher by 610.80 points, or 1.83%, to 33,917.94, while the Nifty 50 rose 194.55 points, or 1.90%, to close at 10,421.40. BSE MidCap and SmallCap were up 0.76% and 0.56%, respectively. All the sectoral indices on BSE ended higher led by telecom, which was up 2.57%, followed by metal 2.32%, FMCG 2.13% and oil and gas 2.13%. Bharti Airtel, NTPC, ITC and Tata Motors were among the top gainers, whereas Coal India and SBI were top losers.
- 2.50 pm IST European shares trade higherEurope’s main stock markets rose at the start of trading following strong gains in Asia. London’s benchmark FTSE 100 index climbed 0.4% to 7,249.69 points. In the eurozone, Frankfurt’s DAX 30 advanced 0.9% to 12,453.30 points and the Paris CAC 40 grew 0.5% to 5,298.22.
- 2.45 pm IST Rupee strengthens against US dollarThe Indian rupee was trading higher against the US dollar ahead of key Consumer Price Index-based (CPI) inflation and Index of Industrial Production (IIP) data due on Monday after 5.30pm. The rupee was at 65.01, up 0.25% from its previous close of 65.17. The home currency opened at 64.95 a dollar and touched a high and a low of 64.95 and 65.04 respectively. Yields on 10-year government bonds was at 7.647% compared to Friday’s close of 7.671%.
- 1.33 pm IST Market updateBSE Sensex traded higher by 370.80 points, or 1.11%, to 33,677.94, while the Nifty 50 rose 123.70 points, or 1.21%, to 10,350.55. All the sectoral indices on BSE, except realty, traded higher with FMCG, telecom, IT and teck leading the gains. BSE MidCap and SmallCap rose 0.07% and 0.04%, respectively.
- 1.30 pm IST Eicher Motors ends JV with US partner Polaris IndustriesEicher Motors Ltd announced its decision to shut its joint venture (JV) Eicher Polaris Pvt. Ltd (EPPL) with US-based Polaris Industries Inc. as sales of its personal utility vehicle Multix dropped to unsustainable levels. Shares rose 0.95% to Rs28,138.60.
- 12.30 pm IST Sugar stocks trade lowerSugar stocks declined after Indian Sugar Mills Association estimates record output. Balrampur Chini Mills Ltd fell 4.1%, Bajaj Hindustan Sugar Ltd fell 1.2%, Shree Renuka Sugars 0.3%, Mawana Sugars Ltd 1.4%, Dwarikesh Sugar Industries Ltd 5.2%, Avadh Sugar & Energy Ltd 3%.
- 11.18 am IST Market updateBSE Sensex traded higher by 320.02 points, or 0.96%, to 33,627.16, while the Nifty 50 rose 101.05 points, or 0.99%, to 10,327.90. All the sectoral indices on BSE traded higher with IT gaining most at 1.86%, teck 1.57 and FMCG 1.40. BSE MidCap and SmallCap 0.26% and 0.39%, respectively.
- 11.15 am IST Coal India shares decline on lower dividendCoal India Ltd shares fell 1.6% to Rs300 after the company paid lower-then-expected dividend for the financial year 2017-18. On Sunday, Coal India approved dividend of Rs16.50 a share. As of December 2017, government holds 78.55% stake in Coal India and it is expected to get around Rs8,044 crore dividend. Last fiscal year, it gave around Rs12,350 crore dividend to government.
- 9.58 am IST Banking stocks trade lowerBanking stocks fell. Central Bank of India declined 5%, IDBI Bank 3.5%, Oriental Bank of Commerce 3.3%, Canara Bank 3%, Allahabad Bank 2.1%, Union Bank of India 1.8%, Bank of India 1.6%, Indian Bank 1.5%, Syndicate Bank 1.1%, Indian Overseas Bank 1.1%, State Bank of India 1%, Punjab National Bank 0.9% and Bank of Baroda fell 0.5%.
- 9.55 am IST Andhra Bank shares down after ED files case against former directorAndhra Bank shares fell 12% to Rs34 after Enforcement Directorate on Friday filed a supplementary prosecution complaint (chargesheet) against former Andhra Bank director Anup Prakash Garg in connection with a Rs5,000 crore bank fraud involving the Vadodara-based Sterling Biotech Ltd (SBL) of the Sandesara group of companies.
- 9.47 am IST Rupee trades higher against US dollar ahead of key CPI, IIP dataThe Indian rupee was trading higher against the US dollar ahead of key Consumer Price Index-based (CPI) inflation and Index of Industrial Production (IIP) data due on Monday after 5.30pm. The home currency opened at 64.95 a dollar. At 9.15am, the rupee was at 64.96, up 0.33% from its previous close of 65.17. Yields on 10-year government bonds was at 7.697% compared to Friday’s close of 7.671%. Bond yields and prices move in opposite directions.
First Published: Mon, Mar 12 2018. 09 37 AM IST
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