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PremiumMUMBAI :Mumbai: The Sensex and Nifty closed higher for a fourth straight day on Tuesday, helped by gains in Reliance Industries Ltd and pharma stocks, PTI reported. The Sensex opened higher and extended gains, but settled at 33,478.35, up 118.45 points, or 0.36%, due to profit-booking in the last one hour of trade. This is its highest closing since 6 November, when it had closed at 33,731.19. The gauge had risen 599.46 points in the previous three sessions. The 50-share NSE Nifty settled up 28.15 points, or 0.27%, at 10,326.90 after shuttling between 10,358.70 and 10,315.05. Dr. Reddy’s Labs, Sun Pharma and Cipla were top gainers, while Coal India, ITC and Power Grid were the top losers. Positive leads from other Asian markets tracking overnight gains at Wall Street helped. Investors continued to focus on corporate earnings and prospects for tax cuts. Here are the latest updates from the markets:
BSE Sensex closed higher by 118.45 points, or 0.36%, to 33,478.35, while the Nifty 50 rose 28.15 points, or 0.27%, to close at 10,326.90.
Dr. Reddy’s, Sun Pharma, Cipla and Bharti Airtel were the top gainers today with gains to the tune of 4.99%, 4.18%, 2.31% and 2.13%, respectively. Meanwhile, shares of Coal India, ITC and Power Grid fell 1.51%, 1.08% and 1.03%, respectively.
BSE Sensex traded higher by 130.60 points, or 0.39%, to 33,490.50, while the Nifty 50 rose 31.65 points, or 0.31%, to 10,330.40.
All the sectoral indices, except realty and FMCG, were trading in the positive territory. The BSE Healthcare index gained most and was up 1.81% followed by consumer durables 1.48%, energy 0.96% and telecom 0.88%. Meanwhile, realty fell 1.50% and FMCG was down 0.21%.
Donear Industries Ltd said in a BSE filing that its promoters, through a limited liability partnership, acquired OCM Mills. The company’s shares surged 18% to Rs76.50 in the early hours. Shares were trading 6.03% higher at Rs68.55.
BSE Sensex jumped 224.18 points, or 0.67%, to 33,584.08, while the Nifty 50 rose 55.55 points, or 0.54%, to 10,354.30.
Reliance Communications Ltd shares surged 14% to Rs13.75 after reports that the company’s lenders have approved the sale of its real estate assets in Delhi and Chennai to Canada-based Brookfield Asset Management, PTI reported.
Power Finance Corp. Ltd said it has asked Barclays, SBI Capital and Standard Chartered Bank to organise a series of meetings with investors in Asia and Europe in connection with a US dollar denominated debt offering. The company’s shares rose 1.18% to Rs128.75.
Kinetic Engineering said the board of directors appointed Chaitanya Koranne as chief executive officer of the company. Shares were trading 4.30% down at Rs83.45.
BSE Sensex traded higher by 168.51 points, or 0.51%, to 33,528.41, while the Nifty 50 rose 49.90 points, or 0.48%, to 10,348.65.
Pharma stocks trade higher. Sun Pharmaceuticals Industries Ltd rose 3.5%, Dr Reddy’s Laboratories 3%, Cipla Ltd 3%, Lupin Ltd 2%, Wockhardt Pharma 4.8%, Eris Lifesciences 3.3% and Torrent Pharma 2.3%.
Yes Bank Ltd said it has raised Rs40 crore throught two syndicated loan transactions in Taiwan and Japan, according to a BSE filing on Tuesday. The loan comprises Rs25 crore from Taiwanese banks and around Rs15 crore from Japan. Yes Bank shares were trading 1.23% higher at Rs317.05.
Jet Airways India Ltd fell 5% to Rs687.50. The company on Monday said it would focus on reducing expenses, especially in trimming maintenance and distribution costs, as the full service airline pursues strategic growth priorities amid stiff competition. To bolster its overall income, the carrier would also focus on enhancing ancillary revenue by around Rs 250 crore.
BSE Sensex traded higher by 180.76 points, or 0.54%, to 33,540.66, while the Nifty 50 rose 51.10 points, or 0.50%, to 10,349.85.
Simplex Infrastructures Ltd rose 9% to Rs567.50 after the company said it won an order worth Rs524 crore from NBCC India to construct buildings for IIT Bhubaneswar and its extended campus.
ARSS Infrastructure Projects Ltd rose 10% to Rs52.85 after the company said it got an order worth Rs87.1 crore from Rail Vikas Nigam.
Dr. Reddy’s Laboratories Ltd jumped 6.3% to Rs2,420.20 after the company said in a notice to BSE that it got establishment inspection report from the US FDA for its Duvvada site, in Vishakhapatnam, Andhra Pradesh.
Quess Corp. Ltd rose 8.6% to Rs940.15 after the company said it will buy 51% stake in Tata Business Support Services for Rs153 crore.
Kajaria Ceramics Ltd rose 2.3% to Rs729.40 after a huge block deal. Around 3.5 million shares of the company changed hands in a block deal, Bloomberg reported. However, details of the buyers and sellers were not available.
BSE Sensex opened higher by 125.58 points, or 0.39%, to 33,488.48, while the Nifty 50 rose 34.35 points, or 0.33%, to 10,333.10.
Reliance Industries Ltd rose 2% to Rs934.55. The company has hit the overseas debt market with a $800 million bond sale programme as it seeks to pare a portion of its high-cost debt that stands at over Rs2.14 trillion.
L&T Finance Holdings Ltd fell 2.7% to Rs183 after a huge block deal. Around 1.8% stake or 33.30 million shares of the company changed hands in a block deal, Bloomberg reported. However, details of buyers and sellers were not available.
Future Enterprises Ltd rose 3.2% to Rs51.50 after PTI reported that US-based Griffin Partners has sold 19.63 lakh shares of Future Supply Chain Solutions for Rs124.99 crore to Edelweiss Crossover Opportunities Fund and EW Clover Scheme.
The rupee opened at 65.11 a dollar. At 9.15am, the home currency was trading at 65.10 a dollar, down 0.01% from its Friday’s close of 65.10. So far this year, the rupee has gained 4.36%, while foreign institutional investors have bought $8.24 billion and $22.33 billion in equity and debt, respectively.
The 10-year bond yield was at 6.88%, compared to its previous close of 6.89%. Bond yields and prices move in opposite directions.
Asian currencies were trading mixed. Philippines peso was down 0.15%, while Indonesian rupiah and Taiwan dollar fell 0.04% each. However, South Korean won was up 0.25%, Japanese yen 0.08% and Malaysian ringgit rose 0.07%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.052, down 0.03% from its previous close of 94.08.
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