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Business News/ Market / Stock-market-news/  Market Wrap: Sensex closes at record high, Nifty at 10623, pharma, IT stocks rise
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Market Wrap: Sensex closes at record high, Nifty at 10623, pharma, IT stocks rise

BSE Sensex closed higher by 198.94 points at 34,352.79, while the Nifty 50 rose 64.75 points to close at 10,623.60. Here are the latest updates from the markets

BSE Sensex and NSE Nifty closed higher on Monday. Photo: ReutersPremium
BSE Sensex and NSE Nifty closed higher on Monday. Photo: Reuters

MUMBAI :Mumbai: Benchmark indices rose to fresh life-time closing highs on optimism over earnings, growth and budget. BSE Sensex hit a new intra-day record high of 34,385.67, before settling at a new closing peak of 34,352.79, up 198.94 points, or 0.58%. In last two days, the index has gained 360.47 points. Similarly, the NSE Nifty 50 touched a new intra-day high of 10,631.20 before ending a new closing high of 10,623.60, up by 64.75 points or 0.61%. The broader NSE Nifty for the first time closed above 10,600 mark. Gains in key IT, capital goods, healthcare and metal stocks helped both the key indices to scale new peaks. Traders said sentiment remained upbeat on continuous foreign fund inflows and unbated buying by investors amid expectations of encouraging quarterly earnings and hopes of growth-oriented budget next month. Foreign portfolio investors bought shares to the tune of Rs581.43 crore, while domestic institutional investors purchased shares worth a net Rs243.13 crore last Friday, as per provisional data from the stock exchanges. (PTI)

08 Jan 2018, 03:34:00 PM IST

Closing bell

BSE Sensex closed higher by 198.94 points, or 0.58%, to 34,352.79, while the Nifty 50 rose 64.75 points, or 0.61%, to close at 10,623.60.

08 Jan 2018, 03:15:00 PM IST

Orchid Pharma receives EIR from USFDA

Orchid Pharma Ltd said it received establishment inspection report from the US Food and Drug Administration based on the inspection closure for the post-marketing adverse drug experience reporting inspection. Shares rose 4.93% to Rs23.40.

08 Jan 2018, 03:13:00 PM IST

Vakrangee ties up with Netmeds Marketplace

Vakrangee Ltd said it has partnered with Netmeds Marketplace Ltd to offer medicines and other health products from Vakrangee Kendra. The company’s shares traded 1.60% higher to Rs412.90.

08 Jan 2018, 02:30:00 PM IST

Market update

BSE Sensex traded higher by 187.22 points, or 0.55%, to 34,341.07, while the Nifty 50 rose 53.90 points, or 0.51%, to 10,612.75.

08 Jan 2018, 02:27:00 PM IST

Emami Infrastructure shares jump 17%

Shares of Emami Infrastructure Ltd surged 17.47% to Rs344 after the company disclosed that its board will consider the proposal for issue of non-convertible debentures.

08 Jan 2018, 02:25:00 PM IST

Essar Ports completes investment in Salaya, Vizag terminal projects

Essar Ports Ltd said that it has completed an investment of its investment of over Rs2,800 crore in its Salaya and Vizag terminal projects. The new investment could increase the company’s revenues by 30% in FY2018-19 on the back of third-party cargo growth. (Reuters)

08 Jan 2018, 02:23:00 PM IST

Prakash Industries shares rise on December quarter earnings

Prakash Industries Ltd reported a profit of Rs101 crore in the December 2016 quarter, compared to Rs18.11 crore a year ago. The company’s December quarter revenue rose toRs726 crore versus Rs521 crore in the same period last month. Shares rose 6.60% to Rs218.

08 Jan 2018, 02:15:00 PM IST

Rupee trades flat against US dollar

The Indian rupee erased all the morning gains and was trading little changed against the US dollar on Monday. At 2pm, the home currency was trading at 63.39 a dollar, up 0.01% from its Friday’s close of 63.37. Earlier in the morning, the rupee opened at 63.32 a dollar and hit a high of 63.29, a level last seen on 29 April 2015.

08 Jan 2018, 12:55:00 PM IST

Market update

BSE Sensex traded higher by 197.81 points, or 0.58%, to 34,351.66, while the Nifty 50 rose 59.30 points, or 0.56%, to 10,618.15.

08 Jan 2018, 12:52:00 PM IST

SBI plans to raise $2 billion

State Bank of India said its board has approved long-term fund raising in single or multiple tranches of up to $2 billion. Shares traded 0.39% up at Rs307.40.

08 Jan 2018, 12:48:00 PM IST

L&T bags Rs2,265 crore order

Larsen and Toubro Ltd said the transportation infrastructure and water and effluent treatment businesses of L&T Construction received three EPC orders worth Rs2,265 crore from Andhra Pradesh Capital Region Development Authority. Shares traded 0.99% up at Rs1,327.45.

08 Jan 2018, 12:45:00 PM IST

Satin Creditcare shares jump 18% on new investment

Satin Creditcare Network Ltd shares surged 18% to Rs511.60 after the company said Kora Management LP has invested Rs80 crore in the company.

08 Jan 2018, 11:25:00 AM IST

Market update

BSE Sensex traded higher by 205.16 points, or 0.60%, to 34,359.01, while the Nifty 50 rose 58.65 points, or 0.56%, to 10,617.50.

08 Jan 2018, 11:23:00 AM IST

Pharma stocks trade higher

Pharma stocks gains. Wockhardt Pharma rose 8%, SMS Pharma 9%, Sun Pharmaceuticals Ltd 4%, Marksans Pharma Rs 4%, Ipca Laboratories Ltd 3.3%, Biocon Ltd 3%, Cadila Healthcare 3%, Glenmark Pharma 2.7%, Lupin Ltd 2.5%, Divi’s Lab 2%.

08 Jan 2018, 11:20:00 AM IST

GDP forecast, Q3 earnings to affect markets this week

Industrial production data for November and inflation data based on consumer price index (CPI) for December will be released this week

08 Jan 2018, 11:17:00 AM IST

Hindustan Construction shares rise on new order

Hindustan Construction Co. Ltd rose 5% to Rs44 after the company said its joint venture with AL Fara’a won order valued at Rs484 crore for Pune metro project work.

08 Jan 2018, 10:20:00 AM IST

Jindal Steel shares rise 13% on fund raising plan

Jindal Steel & Power Ltd rose 13% to Rs240 after PTI reported that the company will raise Rs1000 crore via QIP in February. The report also said that it plan to raise as much as Rs2000 crore via listing Oman Operations in four month.

08 Jan 2018, 10:18:00 AM IST

Sagar Cements shares rise on December sales data

Sagar Cements Ltd rose 2% to Rs1115 after the company reported its December sales at 254.35 billion tonnes, up 65% from a year ago.

08 Jan 2018, 10:15:00 AM IST

Sobha shares gain 9%

Sobha Ltd rose 9% to Rs655.50. Sobha’ previous quarter new sales volumes at 9,33,365 square feet valued at Rs751 crore; average realization in the previous quarter at Rs8,045 per square feet versus Rs7,840 in quarter-ended September

08 Jan 2018, 09:42:00 AM IST

Market update

08 Jan 2018, 09:40:00 AM IST

Telecom companies’ shares trade lower

Telecom companies were trading lower after Reliance Jio on Friday cut tariffs by Rs50 of all its monthly schemes under which customers are getting 1GB data per day and also enhanced data limit to 1.5GB from the existing 1GB for select plans. Bharati Airtel Ltd fell 3.1%, Idea Cellular Ltd declined 3.6% and Reliance Communications Ltd 1%.

08 Jan 2018, 09:38:00 AM IST

Jaypee Infratech shares gain 8%

Jaypee Infratech Ltd rose 8% to Rs25.05 after The Economic Times reported that Tata and Lodhas are keen to take Jaypee Expressway.

08 Jan 2018, 09:35:00 AM IST

Sun Pharma shares rise 2%

Sun Pharmaceutical Industries Ltd rose 2% to Rs590.15 after The Economics Times reported that USFDA may inspect Sun Pharma’s Halol site in February.

08 Jan 2018, 09:32:00 AM IST

Rupee strengthens further against US dollar

The Indian rupee on Monday strengthened further to hit a fresh 32-month high against US dollar, tracking gains in the local equity markets. The rupee opened at 63.32 a dollar and hit a high of 63.29, a level last seen on 29 April 2015. The home currency was trading at 63.29 a dollar, up 0.14% from its Friday’s close of 63.37.

08 Jan 2018, 09:30:00 AM IST

Market update

BSE Sensex traded higher by 196.24 points, or 0.57%, to 34,350.09, while the Nifty 50 rose 50.45 points, or 0.48%, to 10,609.30.

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