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PremiumMUMBAI :Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 gained for a third straight session on Monday helped by banking and consumer durables stocks. Moreover, gains in Asian and European equities also boosted sentiment. Ahead of Chinese President Xi Jinping’s speech on Tuesday, US President Donald Trump tweeted that China would remove trade barriers as that would be the “right thing to do”. Investors will now focus on fourth-quarter earnings season, which will begin on Friday with Infosys. The Indian rupee erased all the morning gains and was trading little changed against US dollar. Here are the highlights from the markets:
BSE Sensex closed higher by 161.57 points, or 0.48%, to 33,788.54, while the Nifty 50 gained 47.75 points, or 0.46%, to close at 10,379.35. BSE MidCap was up 0.16% and SmallCap gained 0.38%. Among the sectoral indices on BSE, consumer durables was up 1.70%, oil and gas 1.52%, FMCG 1.15% and energy 1.14%, while teck was down 0.99%, IT 0.92%, telecom 0.51% and healthcare 0.26%. Axis Bank, M&M, ITC and IndusInd Bank were top gainers, whereas Infosys, Tata Motors, Bharti Airtel and TCS were among the major losers.
DCM Shriram Industries Ltd shares jumped 2.97% to Rs216.90 after the company said it has launched a light bullet-proof vehicle for use by Indian defence and para-military forces.
Larsen & Toubro unit L&T Technology Services has bagged a multi-million deal from ExxonMobil Exploration Co., which will deliver revenues of $20 million in the first year. L&T shares gained 1.30% to Rs1328.10.
BSE Sensex traded higher by 152.74 points, or 0.45%, to 33,779.71, while the Nifty 50 gained 46.50 points, or 0.45%, to 10,378.10. BSE MidCap was up 0.09% and SmallCap gained 0.32%. Among the sectoral indices on BSE, consumer durables gained most at 1.94% followed by oil and gas 1.57% and energy 1.02%, while IT was down 0.90% and teck fell 0.95%. Axis Bank, IndusInd Bank, M&M and ITC were among the top gainers, whereas Infosys, Bharti Airtel, Tata Motors and TCS were major losers.
Europe’s major stock markets advanced in opening deals as investors tracked worries of a looming trade war between China and the United States. In initial deals, London’s benchmark FTSE 100 index added 0.2% to 7,198.22 points. In the eurozone, Frankfurt’s DAX 30 index climbed almost 0.6% to 12,311.02 points, and the Paris CAC 40 also won 0.2% to 5,271. Asian markets also rose as fears about a potentially catastrophic trade war were tempered by hopes China and the United States will be able to hammer out an agreement. (AFP)
Reliance Infrastructure Ltd said it has received purchase order of Rs1,081 crore from Nuclear Power Corp. of India Ltd for the engineering, procurement and construction contract for Kudankulam nuclear power project at Tirunelveli district in Tamil Nadu. Shares gained 0.37% to Rs449.40.
Max India Ltd said its board will consider the proposal to buy Life Healthcare’s Group Holdings Ltd’s shares in Max Healthcare Institute Ltd when the process of valuation of Max Healthcare shares is completed. Max India shares were up 1.56% to Rs84.90.
BSE Sensex traded higher by 189.32 points, or 0.56%, to 33,816.29, while the Nifty 50 gained 64.50 points, or 0.62%, to 10,396.10.
Inflows into Indian equity funds in March were the smallest in 13 months as some investors sold before a tax on stock holdings took effect from 1 April and volatility returned to markets worldwide, Bloomberg reported.
Fund flows slow in India as stock tremors spurs risk off mood https://t.co/lXHojq2Zpi
— Livemint (@livemint) April 9, 2018
Tata Motors said its Jaguar Land Rover retail sales rose 1.7% to 614,309 vehicles for the financial year ended 31 March. Retail sales for the financial year were up year-on-year in China (19.9%), North America (4.7%) and in Overseas markets (3.4%), but down in the UK (12.8%) and in Europe (5.3%), primarily driven by continuing uncertainty over diesel. Tata Motors shares were down 0.93% to Rs360.45.
Oil India Ltd said it has received its first-ever patent from the European Patent Office. The company’s shares were down 1.31% to Rs215.10, recovering from day’s low of Rs213.50.
RPP Infra Projects Ltd said it has bagged an order worth Rs138.2 crore from Maharashtra State Road Development Corp. Ltd. Shares gained 2% to Rs284.90.
Alembic Pharmaceuticals Ltd said it has received approval from the USFDA for its abbreviated new drug application for Acyclovir ointment. Alembic Pharma shares were down 0.11% to Rs540.25.
BSE Sensex traded higher by 134.99 points, or 0.40%, to 33,761.96, while the Nifty 50 gained 46 points, or 0.45%, to 10,377.60. All the sectoral indices on BSE, except IT and teck, traded higher led by consumer durables 1.74%, oil and gas 0.84%, energy 0.60% and capital goods 0.58%. BSE MidCap and SmallCap gained 0.42% and 0.62%, respectively.
Shares of Lemon Tree Hotels Ltd were listed on the bourses at a 10% premium over its issue price on Monday after its Rs1,039 crore initial public offering (IPO) was subscribed 119% during share sale that closed on 28 March. Lemon Tree Hotels shares opened at Rs61.60 on the NSE, up 10% from its issue price of Rs56 apiece. At 10.09am, the stock was up 7.14% at Rs60 on the NSE, while the Nifty 50 gained 0.45% to 10,378.60. The Sensex rose 0.41% to 33,779.
Renewable energy producer ACME Solar Holdings is planning to re-file the draft red herring prospectus for its initial public offering (IPO), two people aware of the matter said. The company is looking to raise around Rs1,000-1,500 crore through the revised IPO. In September, ACME Solar had first filed its DRHP with Sebi to raise Rs2,200 crore through the IPO.
BSE Sensex traded higher by 130.14 points, or 0.39%, to 33,757.11, while the Nifty 50 gained 38.40 points, or 0.37%, to 10,370.
ICICI Bank Ltd shares fell 2.1% to Rs274.75 as loan probe widens. CBI started to question Kochhar’s brother-in-law Rajiv Kochhar for alleged conflict of interest after it emerged that Kochhar’s firm also advised clients of ICICI Bank.
Nitesh Estates Ltd shares rose 4% to Rs13 after the company said it got a claim of Rs15 crore in a land dispute.
Profits of the 30 firms in the benchmark Sensex are expected to grow 9.7% from a year earlier in the March quarter, according to estimates by Kotak Institutional Equities
Earnings growth set to pick up pace, powered by autos, FMCG https://t.co/SFk3zYgnvf
— Livemint (@livemint) April 8, 2018
The yield on India’s 10-year government security eased further on Monday after the Reserve Bank of India announced an increase in foreign portfolio investment limit to buy sovereign and corporate bonds. At 9.15, the yield on 10-year benchmark was trading at 7.153%, down from its Friday’s close of 7.175%. Bond yields and prices move in opposite directions. Meanwhile, the rupee was trading higher at 64.86, up 0.17% from its previous close of 64.98.
BSE Sensex traded higher by 19.85 points, or 0.06%, to 33,646.82, while the Nifty 50 inched up 12.45 points, or 0.12%, to 10,344.05.
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