Market Wrap: Sensex closes 176 points higher, Nifty above 10,500 led by metal, PSU bank stocks
4 min read.Updated: 04 Jan 2018, 04:35 PM ISTLivemint
BSE Sensex closed higher by 176.26 points to 33,969.64, while the Nifty 50 rose 61.60 points to close at 10,504.80. Here are the latest updates
Mumbai: Benchmark Sensex rebounded by 176 points to finish at 33,970 on Thursday, while the Nifty reclaimed the 10,500-mark as investors piled into recently-battered metal, capital goods and consumer durables stocks, PTI reported. The Sensex hovered in a range of 33,995.40 to 33,802.13 before finishing at 33,969.64, up 176.26 points, or 0.52%. The gauge had lost 263.45 points in the previous three sessions. The NSE Nifty also closed higher by 61.60 points, or 0.59%, at 10,504.80 after shuttling between 10,513 and 10,441.45. Investor sentiment was bolstered after a monthly survey showed the Indian services sector returned to marginal growth in December as new orders broadly stabilised. Foreign institutional investors bought equities worth Rs96.31 crore on Wednesday, while domestic institutional investors sold shares worth Rs269.20 crore, as per the provisional data.
04 Jan 2018, 03:34:00 PM IST
BSE Sensex closed higher by 176.26 points, or 0.52%, to 33,969.64, while the Nifty 50 rose 61.60 points, or 0.59%, to close at 10,504.80.
04 Jan 2018, 09:26:00 AM IST
Idea Cellular to raise Rs3,250 crore
Idea Cellular Ltd said its board of directors approved issuance of equity shares to Aditya Birla group entities for an aggregate amount of Rs3,250 crore. The board will also consider raising further capital of Rs3,500 crore via preferential issue, QIP or rights issue. Shares rose 1.66% to Rs104.25.
04 Jan 2018, 02:57:00 PM IST
Saksoft completes Faichi Solutions purchase
Saksoft Ltd said its unit Saksoft Inc. USA has completed the acquisition of California-based startup Faichi Solutions LLC. Shares are trading 1.66% lower to Rs228.45.
04 Jan 2018, 02:55:00 PM IST
European shares trade higher
Europe’s major stock markets advanced in opening deals on Thursday, with London approaching an all-time peak amid a broad global rally. UK’s FTSE 100 index gained 0.3% to 7,696.62 points. In the eurozone, the Paris CAC 40 added 0.5% to 5,360.01 and Frankfurt’s DAX 30 rose 0.7% to 13,065.98 points.
04 Jan 2018, 02:53:00 PM IST
Rupee trades higher against US dollar
The Indian rupee on Thursday strengthened against US dollar, tracking gains in the local equity markets. the rupee was trading at 63.45 a dollar, up 0.14% from its Wednesday’s close of 63.54. The 10-year bond yield was at 7.358% compared to its previous close of 7.32%.
04 Jan 2018, 01:55:00 PM IST
BSE Sensex traded higher by 168.84 points, or 0.50%, to 33,962.22, while the Nifty 50 rose 46.60 points, or 0.45%, to 10,489.80.
04 Jan 2018, 01:53:00 PM IST
Glenmark Pharmaceuticals launches biosimilar of Adalimumab
Glenmark Pharmaceuticals Ltd said it has launched biosimilar of Adalimumab under a licensing agreement with Cadila Healthcare Ltd for the treatment of plaque psoriasis and rheumatoid arthritis. Glenmark Pharma shares traded 0.82% lower to Rs587.40, while Cadila Healthcare shares rose 0.90% to Rs431.65.
04 Jan 2018, 01:50:00 PM IST
Control Print board approves QIP
Control Print Ltd said its board of directors has approved the issue of equity shares to qualified institutional buyers at a price of Rs455 per share. Shares rose 2.47% to Rs479.75
04 Jan 2018, 01:47:00 PM IST
Optiemus Infracom shares surge on launch of new product
Optiemus Infracom Ltd said it has launched Blackberry-branded android phone KEYone in Bangladesh. Shares surged 5% to Rs196.60
04 Jan 2018, 12:58:00 PM IST
BSE Sensex traded higher by 107.34 points, or 0.32%, to 33,900.72, while the Nifty 50 rose 30.45 points, or 0.29%, to 10,473.65.
04 Jan 2018, 12:30:00 PM IST
Veer Energy shares surge over 5% on new order
Veer Energy and Infrastructure Ltd said it has received an order of 2000 KW solar rooftop from a renowned infrastructure developer at Ahmedabad. Shares surged 5.33% to Rs39.50.
04 Jan 2018, 11:48:00 AM IST
India’s services sector growth improves in December
The Indian services sector returned to marginal growth in December as new orders broadly stabilised, according to a monthly survey. Even as there was a turnaround, business activity growth in December was slight and remained well below the average recorded for the survey history as a whole. The seasonally adjusted Business Activity Index improved to 50.9 in December from 48.5 in November, signalling a renewed increase in business activity. (PTI)
04 Jan 2018, 11:45:00 AM IST
PSU Bank stocks trade higher
PSU Bank stocks gained after Bloomberg reported that the government will seek Parliament nod for $12.6 billion bank recapitalisation bonds. IDBI Bank Ltd rose 6%, Oriental Bank of Commerce 2%, Bank of India 2%, Bank of Baroda 1.7%, Andhra Bank 1.4%, Canara Bank 1.3%, Punjab National Bank 1.3%, State Bank of India 1.3%, Union Bank of India 1.2%, Indian Bank 1%.
04 Jan 2018, 10:33:00 AM IST
BSE Sensex traded higher by 39.88 points, or 0.12%, to 33,833.26, while the Nifty 50 rose 14.65 points, or 0.14%, to 10,457.85.
04 Jan 2018, 10:30:00 AM IST
Unichem Laboratories shares gain as board to consider buyback
Unichem Laboratories Ltd rose 4% to Rs345.95 after the company said its board will meet on 8 January to consider buyback of shares.
04 Jan 2018, 10:28:00 AM IST
Allahabad Bank shares fall on RBI action
Allahabad Bank fell 2.4% to Rs70.65 after the Reserve Bank of India placed the bank under prompt corrective framework.
04 Jan 2018, 10:25:00 AM IST
SJVN shares jump 11% on share buyback plan
SJVN Ltd rose 11% to Rs38.40 after the company said its board to meet on 8 January to consider buyback of shares.
04 Jan 2018, 09:40:00 AM IST
Tata Motors shares fall on US JLR sales numbers
Tata Motors Ltd fell 1.1% to Rs252 after the company said its US JLR sales fell 9.4% to 11394 units.
04 Jan 2018, 09:38:00 AM IST
Nitesh Estates shares jump 20% on report on Fosun Group investment
Nitesh Estates Ltd hits 20% upper circuit to Rs15.93 after The Times of India reported that Shanghai-based Fosun Group is in advanced discussions to invest Rs800 crore in southern developer Nitesh Estates in what would be the Chinese conglomerate’s first M&A deal in the Indian real estate sector.
04 Jan 2018, 09:35:00 AM IST
ONGC shares gain on rising oil prices
Oil and Natural Gas Corp. Ltd rose 1.3% to Rs196.15 after international crude oil prices hit a three-year high.
04 Jan 2018, 09:33:00 AM IST
Rupee opens marginally higher
The Indian rupee was trading marginally lower against US dollar on Thursday, tracking losses in its Asian peers. The rupee was trading at 63.61 a dollar, down 0.10% from its Wednesday’s close of 63.54. The 10-year bond yield rose ahead of the fresh 10-year bond offering on Friday and as investors await details of bond sales by state governments this quarter. The 10-year bond yield was at 7.349% compared to its previous close of 7.32%
04 Jan 2018, 09:23:00 AM IST
BSE Sensex traded higher by 27.22 points, or 0.08%, to 33,820.60, while the Nifty 50 rose 16.20 points, or 0.1%, to 10,459.40.