Markets wrap: Sensex closes 194 points up, Nifty at 10,252 ahead of Gujarat exit poll results4 min read . Updated: 14 Dec 2017, 04:05 PM IST
BSE Sensex rises by 194 points at close and NSE Nifty 50 ended up 59.15 points to 10,252.10 ahead of exit poll results of Gujarat elections. Here are the latest updates and developments from the markets
MUMBAI : Mumbai: Benchmark BSE Sensex closed 194 points higher at 33,246 while the NSE Nifty50 closed above 10,250. Investors kept their bets on hold today earlier as key indices traded lower ahead of exit poll results of Gujarat election. Power, consumer durables, IT, technology and FMCG counters witnessed investor caution.Asian markets were trading mixed. US stocks climbed yesterday, with the Dow posting a record closing, after the Federal Reserve hiked interest rates. Here are the latest updates and developments from the markets today:
Sensex rises 193.66 points to end at 33,246.70; Nifty up 59.15 points to 10,252.10.
BSE Sensex rises 228.80 points, or 0.69%, at 33,281.84, while the Nifty 50 rises 81.25 points, or 0.80%, to 10,274.20.
BSE Sensex rises 69.20 points, or 0.21%, at 33,122.24, while the Nifty 50 rises 16.20 points, or 0.16%, to 10,209.15.
Rupee strengthens against US dollar
The Indian rupee strengthened against the US dollar ahead of the exit poll predictions of Gujarat election due later on Thursday. At 2pm, the home currency was trading at 64.31 a dollar, up 0.20% from its Wednesday’s close of 64.44. The rupee opened at 64.32 a dollar and touched a high and a low of 64.25 and 64.33 respectively.
BSE Sensex falls 57.71 points, or 0.17%, at 32,995.33, while the Nifty 50 falls 14.65 points, or 0.14%, to 10,178.30.
TCS falls over 3%
Tata Consultancy Services Ltd fell 3.3% to Rs 2542. The company underperformed the benchmark Nifty 50 index for the fourth consecutive year in 2017. So far this year, TCS has gained 7.37% compared to a 24% rise in the 50-share index, according to data from Bloomberg. Of the 51 brokers tracking the TCS stock on Bloomberg, 10 gave a “buy” rating as against 41 “buy” ratings in October 2014 when the stock touched a record high. Analysts at 12 firms asked investors to “sell” the stock and 29 have a “hold” rating as compared with 3 and 15, respectively, in October 2014.
BSE Sensex falls 137.94 points, or 0.42%, at 32,915.10, while the Nifty 50 falls 42.40 points, or 0.42%, to 10,150.55.
WPI inflation at 8 month high
India’s annual wholesale price inflation (WPI) accelerated in November to an eight-month high, driven by faster rise in prices of food and fuel products, government data showed on Thursday.
BSE Sensex falls 105.22 points, or 0.32%, at 32,947.82, while the Nifty 50 falls 29.95 points, or 0.29%, to 10,163.00.
Religare Enterprises shares rise 5%
Religare Enterprises Ltd rose 5% to Rs60.25 after huge block deal. Around 11 million shares of the company changed hands in block deal, according to Bloomberg report. However, details of the buyers and sellers were not known.
Ruchi Soya shares fall by 14%
Ruchi Soya Industries Ltd fell 14% to hit 13-year low of Rs16.30 after IDBI Bank declared company a wilful defaulter of loans via letter dated 8 December, according to an exchange filling. The company said it will take appropriate legal actions to challenge the decision.
Mahindra & Mahindra shares rise by 1.1%
Mahindra & Mahindra Ltd rose 1.1% to Rs1,428 after the company said its arm Mahindra Overseas Investment Co. sold 6.45 million shares of Spain based CIE Automotive to raise around €151.60 million.
BSE Sensex trades higher by 16.66 points, or 0.05%, at 33,069.70, while the Nifty 50 rises 5.30 points, or 0.05%, to 10,198.25.
Manpasand Beverages shares rise over 7%
Manpasand Beverages Ltd rose 7.83% to Rs404.40 after RBI increased its FII limit to 49% from 24% and allows further FII buying.
Prataap Snacks shares rise 6.4%
Prataap Snacks Ltd rose 6.4% to Rs1,360 after the company said it reported 143% increase in its net profit to Rs12.90 crore while revenue rose 11% to Rs264 crore.
S Chand and Co shares rise 3.6%
S Chand and Co Ltd rose 3.6% to Rs501 after brokerage firm Credit Suisse initiated coverage on the stock and rated it with outperform with the target price of Rs625 a share.
Oberoi Realty shares rise 5%
Oberoi Realty Ltd rose 5% to Rs474.75 after Motilal Oswal initiated buy rating on the stock and kept its target price to Rs580 a share.
BSE Sensex trades lower by 20.57 points, or 0.06%, at 33,032.47, while the Nifty 50 rose 10.70 points, or 0.10%, to 10,182.25.
Corproation Bank share fall over 2%
Corporation Bank fell 2.2% to Rs39.60 after the company said RBI has placed the lender under Prompt Corrective Action framework for high NPAs.
Tata Communications shares rise 5%
Tata Communications Ltd’s shares rose 5% to Rs730 after the company said its board approved proposal to demerge around 773 acres surplus land of government through special purpose vehicle firm Hemisphere Properties India Ltd.
Dollar index trading lower
The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.374, down 0.06%, from its previous close of 93.429.
Asian currencies trading higher
Asian currencies were trading higher. South Korean won was up 0.33%, Malaysian ringgit 0.21%, Indonesian rupiah 0.18%, China renminbi 0.15%, Taiwan dollar 0.14%, China offshore 0.1%, Thai baht 0.07% and Philippines peso rose 0.07%. However, Japanese yen was down 0.08%, Hong Kong dollar 0.07% and Singapore dollar 0.05%.
Bond yield falls for the second session
After hitting a 17-month high, bond yield fell for the second session on Thursday on news of repurchase announcement of debt by the government, up to Rs20,000 crore, on 18 December to prematurely redeem some stock by utilizing surplus cash balances. The 10-year bond yield was at 7.142%, compared to its previous close of 7.173%. Bond yields and prices move in opposite directions.
Rupee opens higher against dollar
The Indian rupee strengthened against the US dollar ahead of the exit poll predictions of Gujarat election due later on Thursday. The rupee opened at 64.32 a dollar. At 9.15am, the home currency was trading at 64.28 a dollar, up 0.24% from its Wednesday’s close of 64.44.
BSE Sensex, Nifty50 trade higher
BSE Sensex trades higher by 52.55 points, or 0.16%, at 33,105.59, while the Nifty 50 rose 18.15 points, or 0.18%, to 10,211.10.