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PremiumMUMBAI :Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 on Tuesday driven by gains in banking stocks after the government announced lower-than-expected borrowing programme for the first half of the fiscal year 2019. Moreover, global equities also traded gained as trade war fears eased after reports possible trade negotiations between the US and China. According to provisional data, foreign investors sold shares worth Rs741.19 crore on net basis, while domestic investors purchased equities worth Rs2,017.95 crore on Monday. Here are the latest updates from the markets:
BSE Sensex closed higher by 107.98 points, or 0.33%, to 33,174.39, while the Nifty 50 gained 53.50 points, or 0.53%, to close at 10,184.15. All the sectoral indices on BSE, except telecom, ended higher led by metal, basic materials, oil and gas, and bankex. BSE MidCap and SmallCap were up 1.06% and 1.36%, respectively. SBI, IndusInd Bank, Tata Steel and Kotak Bank were top gainers, whereas Bharti Airtel, Bajaj Auto, HDFC and Hero MotoCorp were among the major losers.
BSE Sensex traded higher by 175.24 points, or 0.53%, to 33,241.65, while the Nifty 50 gained 70.05 points, or 0.69%, to 10,200.70.
Steel Strips Wheels Ltd said that it has bagged an export order for supply of 7,500 steel wheels for EU caravan market. Shares were trading 0.78% down at Rs1069, recovering from day’s low of Rs1050.
The 10-year bond yields fell 28 basis points, biggest decline since November 2013, on Tuesday after the government announced lower-than-expected borrowing programme for the first half of the fiscal year 2019. Yield on India’s benchmark 10-year government bonds was trading at 7.335%, down 28.40 basis points—its biggest decline since 25 November 2013—compared to its Monday’s close of 7.623%. Bond yields and prices move in opposite directions. Meanwhile, rupee erased all the morning gains and was trading little changed against US dollar. The home currency was trading at 64.87 a dollar, down 0.01% from its previous close of 64.86.
BSE Sensex traded higher by 66.92 points, or 0.20%, to 33,133.33, while the Nifty 50 gained 34.80 points, or 0.34%, to 10,165.45. BSE MidCap and SmallCap were up 1.09% and 1.32%, respectively. Eighteen out of 19 sectoral indices on BSE traded in green led by metal, basic materials, healthcare and industrials. Telecom was down 1.36%.
Reliance Infrastructure Ltd said Delhi High Court asked Delhi Metro Rail Corp. to pay Rs306 crore to a consortium of banks to ensure that no account of Delhi Airport Metro Express Pvt. Ltd, a unit of Reliance Infrastructure, turns NPA by 31 March. Reliance Infra shares rise 1.40% to Rs430.35.
The Nikkei ended 2.7% higher at 21,317.32. South Korea’s KOSPI stock index gained 14.98 points, or 0.61%, to close at 2,452.06. At the close, the Shanghai Composite index was up 1% at 3,166.65, while the blue-chip CSI300 index rose 0.86% to 3,913.27. (Reuters)
Fortis Healthcare Ltd said it has received on 23 March an unsolicited non-binding indication of interest from Manipal Health Enterprises Pvt. Ltd. “The said proposal is still under evaluation by the management and no firm decision in this regard has been taken by the board,” said the company in a BSE filing. The company’s shares fell 2.84% to Rs143.50. In the morning hours, the shares gained 4.26% to Rs154.
European stock markets rallied at the start of trading on Tuesday after soaring gains in Asia and on Wall Street as global trade war fears eased, according to traders. London’s benchmark FTSE 100 index jumped 1.3% to 6,980.40 points. In the eurozone, Frankfurt’s DAX 30 index surged 1.8% to 11,996.35 points and the Paris CAC 40 advanced 1.5% to 5,141.40. (AFP)
BSE Sensex traded higher by 59.97 points, or 0.18%, to 33,126.38, while the Nifty 50 gained 28.80 points, or 0.28%, to 10,159.45.
The Election Commission announced the polling schedule for the 224-member Karnataka assembly on Tuesday. Voting in Karnataka will be held on 12 May, while counting is slated for 15 May. The last state elections were held in the first week of May in 2013. The polls are being seen as politically crucial for the ruling Congress as well as the Bharatiya Janata Party (BJP) as it is the only big state where the former is in power after losing a string of assembly elections to the saffron party in the last few years.
Kalpataru Power Transmission Ltd shares rose 1.44% to Rs470 after the company said that it has secured new orders worth Rs901 crore
JMC Projects (India) Ltd shares jumped 4.29% to Rs556 after the company said it has secured new orders worth Rs634 crore
Larsen and Toubro Ltd said its power transmission and distribution business of L&T Construction has won orders valued Rs4,353 crore. Shares were trading 0.60% up at Rs1,302.90.
BSE Sensex traded higher by 94 points, or 0.28%, to 33,160.41, while the Nifty 50 gained 30.10 points, or 0.30%, to 10,160.75. All the sectoral indices on BSE, except telecom, traded higher with metal, basic materials, finance and capital goods leading the gains. BSE MidCap and SmallCap were up 0.85% and 1.25%, respectively.
Shares of Bandhan Bank Ltd listed at 30% premium on the bourses on Tuesday after its Rs4,470 crore initial public offer (IPO), the largest ever by a bank, was subscribed 14.63 times last week. Bandhan Bank shares opened 29.33% higher on the BSE at Rs485 apiece, compared to the issue price of Rs375, which was the upper end of the price band of Rs370-375 per share.
Fortis Healthcare shares were up 0.78% at Rs148.85 after Mint reported the boards of Manipal Health Enterprises Pvt. Ltd, and Fortis Healthcare Ltd will meet in the next couple of days to approve the proposed merger of hospital chains of Fortis and Manipal.
BSE Sensex traded higher by 239.10 points, or 0.72%, to 33,305.51, while the Nifty 50 gained 73.65 points, or 0.73%, to 10,204.30.
Banking stocks gained further after the government announced lower than expected borrowing programme. Corporation Bank rose 5.5%, IDBI Bank rose 3.3%, Bank of Baroda 2.9%, Oriental Bank of Commerce 2.2%, Union Bank of India 2%, Allahabad Bank 2%, Indian Bank 2%, Syndicate Bank 1.9%, Bank of India 1.9%, Punjab National Bank 1.8%, Andhra Bank 1.6%, State Bank of India 1.5%.
Dilip Buildcon Ltd rose 2% to Rs 1005.50 after the company said it got order worth Rs 4114.50 crore by the National Highways Authority of India in the State of Karnataka and Maharashtra.
The final quarter of 2017 revealed that states, small and large, took measures to stand out as champions of innovation—both for entrepreneurs and industry looking to grow.
Enterprising Indian states: leaders and laggards https://t.co/WbXSEcvbpL
— Livemint (@livemint) March 26, 2018
Government bond yields fell 25 basis points, their steepest decline in 52 months, on Tuesday after the government announced lower-than-expected borrowing programme for the first half of the fiscal year 2019. Meanwhile, the rupee gained against the US dollar. Yield on India’s benchmark 10-year government bonds was trading at 7.371%, down 25.20 basis points—its biggest decline since 25 November 2013—compared to its Monday’s close of 7.623%. Bond yields and prices move in opposite directions.
BSE Sensex traded higher by 137.64 points, or 0.42%, to 33,204.05, while the Nifty 50 gained 44.35 points, or 0.44%, to 10,175.
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