MUMBAI :Mumbai: Benchmark indices closed at record highs on Wednesday, with Sensex crossing the 35,000-mark for the first time to hit a new all time high of 35118.61 and NSE Nifty rising above 10,800 to set a new record of 10,803. All the sectoral indices on BSE ended higher with bank, capital goods and IT leading the gains. The Nifty PSU Bank rose to 4.17%. Axis Bank, SBI, ICICI Bank and Infosys were major gainers, whereas Wipro, M&M, Kotak Bank and HDFC Bank stocks were major losers. Here are the latest updates from the markets:
Closing bell
BSE Sensex closed higher by 313.73 points, or 0.90%, to 35,084.78, while the Nifty 50 rose 88.10 points, or 0.82%, to close at 10,788.55.
Market update
BSE Sensex traded higher by 213.56 points, or 0.61%, to 34,984.61, while the Nifty 50 rose 56.60 points, or 0.53%, to 10,757.05. In intraday trade, the BSE Sensex rose 231.73 points to touch a new record high of 35,002.78.
Pennar Industries gets Rs242 crore order
Pennar Industries Ltd announced that it has received orders worth Rs242 crore across its business units and subsidiary companies. Shares fell 3.07% to Rs66.25.
Om Metals Infraprojects gets contract from Ghana
Om Metals Infraprojects Ltd said it has received a contract in a joint venture for ‘rehabilitation and completion of Kpong left bank irrigation project’ from ministry of food and agriculture, Republic of Ghana. Shares were up 2.65% at Rs69.75.
Market update
BSE Sensex traded higher by 166.51 points, or 0.48%, to 34,937.56, while the Nifty 50 rose 46.35 points, or 0.43%, to 10,746.80.
Bonds recoup losses after government cuts borrowing requirement
India’s 10-year bond yield slumped 17 basis points, its steepest fall in 14 month on Wednesday after the government said it will cut borrowing programme. The yield on 10-year bonds fell 17 basis points, its steepest fall since 15 November 2016 to 7.212% compared to its previous day close of 7.269%.
BHEL wins Rs2,800 order to set up power plant
Bharat Heavy Electricals Ltd said it has won an order worth Rs2800 core to set up a 660MW coal-based thermal power project in Maharashtra. Shares rose 0.25% to Rs99.05.
Gold prices trade lower
Gold prices reversed early gains to trade slightly lower on Wednesday as the US dollar recovered from a three-year low against a basket of currencies. Spot gold was down 0.3% at $1,334.86 an ounce by 12.11pm, after rising to $1,343.91 earlier in the session. It touched its strongest since 8 September at $1,344.44 on Monday. US gold futures were down 0.1 percent at $1,335.40 an ounce. (Reuters)
Som Distilleries and Breweries unit gets nod from KPCB
Som Distilleries and Breweries Ltd said that its unit Woodpecker Distilleries and Breweries has received necessary approvals to operate from Karnataka State Pollution Control Board. Shares rose 0.89% to Rs265.85
Gravita India receives new order worth Rs250 crore
Gravita India Ltd announced that it has received orders worth Rs250 crore from Luminous Power Technologies, a part of European Schneider group. Shares gained 1.03% to Rs181
Gayatri Projects shares gain on new orders
Gayatri Projects Ltd said that the company has secured two new orders worth Rs529 crore and Rs394 crore from National Highways Authority of India. Shares traded 0.12% higher at Rs213
Ashok Leyland signs letter of intent with Phinergy of Israel
Ashok Leyland Ltd said it has signed a letter of intent with Phinergy of Israel for a long-term arrangement of high energy EV commercial vehicle solutions. Shares rose 1.19% to Rs123.75
Market update
BSE Sensex traded higher by 129.18 points, or 0.37%, to 34,900.23, while the Nifty 50 rose 32.30 points, or 0.30%, to 10,732.75.
Sun Pharma shares gain
Sun Pharmaceuticals Industries Ltd rose 1% to Rs583 after the company said it got license to sell the generic version of Linzess in US from 1 February 2031 after settling patent litigation.
Ipca Laboratories buys Pisgah Labs
Ipca Laboratories Ltd rose 2.4% to Rs587 after the company said it acquired Pisgah Labs in US for $9.65 million
Hatsun Agro Product shares down on Q3 result
Hatsun Agro Product Ltd fell 3% to Rs855.45 after the company reported 53% drop in its net profit to Rs14.98 crore.
Market update
BSE Sensex trades lower by 53.39 points, or 0.15%, to 34,717.66, while the Nifty 50 fell 29.10 points, or 0.27%, to 10,671.35.
IT stocks trade higher
IT stocks extends their gains after global brokerage firm Morgan Stanley said that Indian IT services stocks could be set for a turnaround in 2018. According to the research firm, valuations are at or below long-term averages as large-cap IT stocks have underperformed the Sensex for the last three years. An improving global economy could spur tech spending, which could lead to a re-rating of IT stocks. Morgan Stanley sees a 17-69% upside for IT services stocks in a bull-case scenario. TCS up 2%, Infosys Ltd 2%, Tech Mahindra Ltd 1.1%, HCL Technologies Ltd 1%
MCX shares fall on December quarter result
Multi Commodity Exchange of India fell 3.5% to Rs865.45 after the company reported a 47% drop in its December quarter net profit at ₹19 crore.
Rupee opens flat against US dollar, bond yield rises
The Indian rupee was trading little changed against US dollar in opening trade, tracking mixed Asian currencies market. The rupee opened at 64.08 a dollar, and was trading at 64.04 a dollar, down 0.01% from its Tuesday’s close of 64.04. The 10-year bond yield was at 7.385%, compared to its previous close of 7.269%.
Market update
BSE Sensex traded higher by 290.41 points, or 0.84%, to 35,061.46, while the Nifty 50 rose 78.95 points, or 0.74%, to 10,779.40.
Market update
BSE Sensex traded higher by 63.68 points, or 0.18%, to 34,834.73, while the Nifty 50 rose 2.25 points, or 0.02%, to 10,702.70.
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