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Business News/ Market / Stock-market-news/  Market Wrap: Sensex closes 103 points higher, Nifty settles at 10741, IT stocks rise
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Market Wrap: Sensex closes 103 points higher, Nifty settles at 10741, IT stocks rise

BSE Sensex closed 103.03 points up at 35,319.35, while the Nifty 50 ended 23.90 points up at 10,741.70. Here are the highlights from the markets

BSE Sensex and NSE’s Nifty 50 closed lower on Wednesday. Photo: MintPremium
BSE Sensex and NSE’s Nifty 50 closed lower on Wednesday. Photo: Mint

MUMBAI :Mumbai: Benchmark indices BSE Sense and NSE’s Nifty 50 closed higher on Wednesday led by market heavyweights HDFC, Reliance Industries and TCS offsetting losses in shares of oil marketing companies. However, gains were capped following mixed trades in global equities after US President Donald Trump scrapped the Iran nuclear deal, pushing oil prices to highest since 2014. Meanwhile, foreign investors sold shares worth Rs97.15 crore on net basis, while domestic investors bought equities to the tune of Rs923.25 crore on Tuesday, provisional data showed. Here are the latest updates from the markets:

09 May 2018, 03:35:00 PM IST

Market update

BSE Sensex closed higher by 103.03 points, or 0.29%, to 35,319.35, while the Nifty 50 rose 23.90 points, or 0.22%, to close at 10,741.70. BSE MidCap and SmallCap declined 0.63% and 0.10%, respectively. Among the sectoral indices on BSE, IT gained most at 0.74%, teck 0.56%, consumer durables 0.46% and capital goods 0.40%. Power fell 0.57%, utilities 0.49%, healthcare 0.47% and basic materials 0.31%. Tata Motors, Asian Paints, TCS and Axis Bank were top gainers, whereas Sun Pharma, ICICI Bank, Maruti and Wipro were among the major losers.

09 May 2018, 03:07:00 PM IST

Market update

BSE Sensex traded higher by 77.91 points, or 0.22%, to 35,294.23, while the Nifty 50 rose 19.95 points, or 0.19%, to 10,737.75. Among the sectoral indices on BSE, IT, consumer durables, IT and Teck traded higher, while power, utilities, healthcare and FMCG traded lower. BSE MidCap and SmallCap declined 0.62% and 0.10%, respectively. Tata Motors, Asian Paints, TCS and Yes Bank were top gainers, whereas Sun Pharma, ICICI Bank, M&M and HDFC were among the major losers.

09 May 2018, 03:03:00 PM IST

Softbank CEO confirms deal to sell stake in Flipkart to Walmart

Softbank chief executive office Masayoshi Son has confirmed a deal to sell the company’s stake in Flipkart to Walmart Inc., reports Associated Press. Read more

09 May 2018, 02:57:00 PM IST

Rupee weakens to fresh 15-month low against US dollar

The Indian rupee on Wednesday weakened to a fresh 15-month low against the US dollar, tracking losses in Asian currencies amid continued outflows from local assets and elevated crude oil prices. The rupee was trading at 67.43 against US dollar, down 0.49% from its previous close of 67.08. The currency opened at 66.34 and touched a low of 67.48—a level last seen on 2 February 2017. Year to date, it lost over 5.2%. The 10-year bond yield stood at 7.706%, up 13 basis points, from its previous close of 7.581%. Bond yields and prices move in opposite directions.

09 May 2018, 01:27:00 PM IST

Market update

BSE Sensex traded higher by 173.33 points, or 0.49%, to 35,389.65, while the Nifty 50 rose 46.20 points, or 0.43%, to 10,764.

09 May 2018, 01:23:00 PM IST

Arvind shares jump 4% after Q4 earnings

Arvind Ltd shares jumped 4.263% to Rs437.30 after the company reported a 16% increase in March-quarter net profit to at Rs109 crore from Rs93.42 crore last year. The company’s consolidated revenue from operations stood at Rs2,990 crore in the quarter versus Rs2,466 crore a year ago.

09 May 2018, 01:20:00 PM IST

Smartlink Holdings gets NBFI certificate

Smartlink Holdings Ltd said it has received the certificate of registration as non-banking financial institution (NBFI) without accepting public deposits from Reserve Bank of India. Shares fell 2.85% to Rs110.80.

09 May 2018, 11:32:00 AM IST

Goldman Sachs-backed Renew Power files for IPO

Goldman Sachs Group Inc.-backed renewable energy company Renew Power Ltd on Wednesday filed its draft initial public offering (IPO) documents with the regulators. The IPO will see the company raise Rs2,600 crore in fresh capital, while existing private equity investors of the company will sell an aggregate of 94.37 million shares, according to the draft prospectus. Read more

09 May 2018, 11:27:00 AM IST

Tata Motors shares rise 3% after JLR April sales data

Tata Motors Ltd said that Jaguar Land Rover’s total retail sales of rose 11.9% year-on-year to 45,180 vehicles in April. Land Rover retailed 31,891 vehicles in April, up 13.6% from last year. Jaguar’s retail sales stood at 13,289 vehicles in April, up 8%. Tata Motors shares gained 3.16% to Rs342.60.

09 May 2018, 10:50:00 AM IST

Market update

BSE Sensex traded higher by 24.77 points, or 0.07%, to 35,241.09, while the Nifty 50 edged up 1.50 points, or 0.01%, to 10,719.30.

09 May 2018, 10:45:00 AM IST

The $20 billion Flipkart-Walmart deal: Key facts

Walmart and Google parent Alphabet are expected to announced a deal to buy up to three quarters of Flipkart today. Here are the key facts related to the deal

09 May 2018, 10:43:00 AM IST

Hindalco Industries shares up 4%

Hindalco Industries Ltd shares rose 3.7% to Rs248 after its subsidiary Novelis posts strong results. Novelis sales were up 20% to $11.5 billion and profits attributable to shareholders jumped by 80% to $635 million

09 May 2018, 09:47:00 AM IST

Shares of oil marketing companies trade lower

Shares of oil marketing companies were trading lower after oil prices rose to the highest level since late 2014 after US President Donald Trump said the US will withdraw from the Iran nuclear deal, a move that was seen as raising the chances of another Mideast war and testing Washington’s relations with Europe.Hindustan Petroleum Corp Ltd fell 4%, Bharat Petroleum Corp Ltd 3.2% and Indian Oil Corp Ltd 2.7%.

09 May 2018, 09:43:00 AM IST

Sintex Industries shares gain 12% after Q4 results

Sintex Industries Ltd shares rose 12% to Rs19 after the company said its profit rose 4.76% to Rs52.82 crore in the quarter ended 31 March as against Rs50.42 crore a year ago. Sales rose 41.00% to Rs616.93 crore in the quarter as against Rs437.53 crore during the March 2017 quarter.

09 May 2018, 09:45:00 AM IST

Jubilant Life Sciences shares up 4% ahead of Q4 earnings

Jubilant Life Sciences Ltd shares gained 3.7% to Rs 859 ahead of its earnings for March quarter due later today.

09 May 2018, 09:35:00 AM IST

Sensex, Nifty trade lower

BSE Sensex traded lower by 37.31 points, or 0.11%, to 35,179.01, while the Nifty 50 edged lower 8.35 points, or 0.08%, to 10,709.45.

09 May 2018, 09:25:00 AM IST

Rupee weakens to 15-month low against US dollar

The Indian rupee weakened to a fresh 15-month low against the US dollar, tracking losses in Asian currencies amid continued outflows from local assets and elevated crude oil prices.The rupee was trading at 67.38 against US dollar, down 0.45% from its previous close of 67.08. The currency opened at 66.34 and touched a low of 67.39—a level last seen on 8 February 2017. Year to date, it lost over 5%.The 10-year bond yield stood at 7.648%, from its previous close of 7.581%. Bond yields and prices move in opposite directions.

09 May 2018, 09:20:00 AM IST

Asian shares trade lower

Asian stocks slipped and crude oil climbed past $70 in New York after President Donald Trump scrapped the nuclear deal with Iran. Treasury yields advanced toward 3 percent, helping stoke gains in the dollar against the yen.The MSCI Asia Pacific Index fell 0.5%. Topix index sank 0.5%. Kospi index fell 0.4%. Hong Kong’s Hang Seng Index was little changed. Futures on the S&P 500 Index fell less than 0.05%.Concern about an increase in geopolitical tension is weighing on global sentiment at the same time as concerns spread over the implications of higher Treasury yields and a stronger dollar. Sanctions on Iran could potentially disrupt supplies from OPEC’s third-largest producer and open an uncertain new chapter for the Middle East. (Bloomberg)

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