BSE Sensex and NSE’s Nifty 50 closed higher on Monday. Photo: Reuters
BSE Sensex and NSE’s Nifty 50 closed higher on Monday. Photo: Reuters

Market Wrap: Sensex, Nifty close marginally higher, telecom, pharma stocks lead

BSE Sensex closed 39.80 points higher at 35,483.47, while the Nifty 50 ended 19.30 points up at 10,786.95. Here are the highlights from the markets

Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty erased gains in the afternoon trade and closed marginally higher on Monday as investors are cautious ahead of key domestic economic data as well as global events this week. Stocks in Europe and Asia edged higher shrugging off fractious G7 meeting. Moreover, focus shifts to monetary policy review meetings of three major world central banks and historic summit between the leaders of US and North Korea. Meanwhile, domestic investors bought shares worth Rs459.44 crore on net, while foreign investors sold equities to the tune of Rs222.50 crore on Friday, provisional data showed. Here are the highlights from the markets:
11 Jun 2018, 03:34:00 PM IST

Closing bell: Sensex, Nifty close marginally higher

BSE Sensex closed higher by 39.80 points, or 0.11%, to 35,483.47, while the Nifty 50 rose 19.30 points, or 0.18%, to close at 10,786.95. BSE MidCap edged down 0.06%, while SmallCap gained 0.51%.Among the sectoral indices on BSE, telecom, consumer durables and healthcare led the gains, while realty, oil and gas, and metal declined most. Bharti Airtel, Sun Pharma, Dr. Reddy’s Labs and Maruti Suzuki were major gainers, whereas Tata Steel, Power Grid, Coal India and Hero MotoCorp were among the major losers.

11 Jun 2018, 03:05:00 PM IST

Market update: Sensex, Nifty trim gains

BSE Sensex traded higher by 90.02 points, or 0.25%, to 35,533.69, while the Nifty 50 rose 27.70 points, or 0.26%, to 10,795.35.

11 Jun 2018, 03:03:00 PM IST

Tata Power unit wins solar power contract in Maharastra

Tata Power Co. Ltd said that unit Tata Power Renewable Energy Ltd has won a 150 MW solar PV project on the long term basis in Maharashtra. Shares were trading 1.35% up at Rs79

11 Jun 2018, 02:57:00 PM IST

How bad are our public sector banks? Here are some vital stats

In the three years since RBI reviewed public sector banks’ quality of assets, these lenders posted a ₹28,490 crore loss in 2015-16, a paltry profit of ₹474 crore in 2016-17 and a loss of ₹85,371 crore in 2017-18

11 Jun 2018, 02:30:00 PM IST

European stocks edge higher

Europe’s stock markets rose at the start of trade on Monday, but sentiment was jarred after the Group of Seven meeting ended with deep divisions between Washington and its allies. Investors were also on tenterhooks before US President Donald Trump’s summit with North Korean leader Kim Jong Un, and ahead of this week’s European Central Bank and Federal Reserve interest rate decisions.In initial trade, London’s benchmark FTSE 100 index of major blue-chip companies was 0.3% ahead at 7,706.08 points. In the eurozone, Frankfurt’s DAX 30 added 0.4% at 12,816.32 points and the Paris CAC 40 gained 0.2% to 5,459.81, compared with the closing levels on Friday.

11 Jun 2018, 01:48:00 PM IST

Market update: Sensex, Nifty extend losses

BSE Sensex traded higher by 231.56 points, or 0.65%, to 35,675.23, while the Nifty 50 rose 73.70 points, or 0.68%, to 10,841.35. BSE MidCap gained 0.51% and SmallCap rose 1%.

11 Jun 2018, 01:43:00 PM IST

L&T unit gets Rs2,210 crore award

Larsen and Toubro Ltd said that its construction unit has won orders worth Rs2,210 crore across two business segment. Shares were trading 0.33% up at Rs1348.

11 Jun 2018, 12:50:00 PM IST

Alembic Pharma shares soar 205 after USFDA approval

Alembic Pharmaceuticals Ltd shares surged 20% to Rs521.80 after the company said that it has received a final approval from USFDA for a new drug application for Bupropion hydrochloride tablets.

11 Jun 2018, 12:17:00 PM IST

Market update: Sensex, Nifty hold gains

BSE Sensex traded higher by 175.88 points, or 0.50%, to 35,619.55, while the Nifty 50 rose 60 points, or 0.56%, to 10,827.65. BSE MidCap and SmallCap gained 0.62% and 0.94%, respectively.All the sectoral indices on BSE, except utilities, traded higher led by led by telecom (1.75%), consumer durables (1.59%) and healthcare (1.02%). On NSE, Nifty PSU Bank Index rose 1.22%.Bharti Airtel, Dr. Reddy’s Labs, Adani Ports and Sun Pharma were top gainers, whereas Power Grid, Hero MotoCorp, ONGC and Tata Steel were among the major losers.

11 Jun 2018, 12:13:00 PM IST

Bitcoin, ethereum, ripple prices crash after South Korea hack

Cryptocurrencies plunged in Asia on Monday after a hack on a South Korean exchange sparked fresh concerns about the safety of the digital units. The firm, which trades more than 50 cryptocurrencies, added that it had frozen all exposed coins—Fundus X, Aston, and Enper—and other units had been taken offline in a “cold wallet”.The news sent cryptocurrencies tumbling, with bitcoin losing about 13%, ethereum down 12% and ripple almost 20% lower as traders fret over the safety of their investments. Read more

11 Jun 2018, 11:35:00 AM IST

Craftsman Automation files for IPO

Craftsman Automation Ltd has filed documents for an initial public offering. The IPO comprised of a fresh issue of shares worth up to Rs400 crore by and an offer for sale of up to 4.4 million shares by selling shareholders. The IPO also included reservation of shares worth up to 50 million rupees for subscription by eligible employees.ICICI Securities, IIFL Holdings, SBI Capital Markets are book running lead managers to the IPO. (Reuters)

11 Jun 2018, 11:23:00 AM IST

Inflation likely hit a four-month high in May on oil price surge

India’s retail inflation jumped further in May to a four-month high, primarily driven by a surge in energy prices, according to a Reuters poll of economists, suggesting more policy tightening from the central bank is coming.The poll of more than 30 economists taken 4-8 June showed annual consumer price inflation likely increased to 4.83% last month, the highest since January and above April’s 4.58%. Read more

11 Jun 2018, 10:53:00 AM IST

PNB Housing Finance shares hit 1-year low

Shares of PNB Housing Finance Ltd fell as much as 6.3% to Rs1,063.50, lowest since 15 March 2017, after The Economic Times reported that Carlyle Group is looking to sell its 33% stake in the company. (Reuters)

11 Jun 2018, 10:50:00 AM IST

Sun Pharma’s Halol plant resolution could repair more than its financial health

The resolution of Sun Pharma’s Halol plant could add as much as $100 million in revenues annually

11 Jun 2018, 10:10:00 AM IST

Market update: Sensex, Nifty extend gains

BSE Sensex traded higher by 194.10 points, or 0.55%, to 35,637.77, while the Nifty 50 rose 63.85 points, or 0.59%, to 10,831.50.

11 Jun 2018, 10:05:00 AM IST

D-mart market cap rises past Rs1 trillion

Shares of D-mart parent, Avenue Supermarts Ltd, joined the elite club of companies that have seen their market capitalization soar past Rs1 trillion on the exchanges.At 9.50am, the firm saw its market capitalisation touch Rs100,171.80 crore with its shares trading at a record high of Rs1,608.50, up 1% from previous close, showed data from BSE.The stock gained 20% in last three weeks. So far this year it has gained 35%. The script has jumped 373.86% from its offer price of Rs299 since its debut in March 2017.

11 Jun 2018, 09:35:00 AM IST

ICICI Bank shares fall over 1%

ICICI Bank Ltd shares declined 1.6% to Rs283.70. Mint reported that the Securities and Exchange Board of India (Sebi) has powers to impose a penalty but not demand the resignation of ICICI Bank Ltd chief executive Chanda Kochhar if it finds she and the bank did not abide by fair disclosure norms in its ongoing probe. A maximum penalty of Rs25 crore, or three times the ill-gotten gains, can be levied under Sebi rules, but in this case, the quantum of the penalty may be at the discretion of Sebi’s adjudicating officer.

11 Jun 2018, 09:30:00 AM IST

Inox Wind shares down 5% after auditor resigns

Shares of Inox Wind Ltd fell 5.4% to Rs88 after the company said its auditors Patankar & Associates resigned due to time constraints caused by their other commitments and engagements.

11 Jun 2018, 09:28:00 AM IST

Market update: Sensex, Nifty trade higher

BSE Sensex traded higher by 140.39 points, or 0.40%, to 35,584.06, while the Nifty 50 rose 38.80 points, or 0.36%, to 10,806.45.

11 Jun 2018, 09:23:00 AM IST

Rupee edges higher against US dollar

The Indian rupee on Monday strengthened marginally against the US dollar in opening trade ahead of key domestic as well as global events this week.At 9.15am, the home currency was trading at 67.43 against the US dollar, up 0.10% from its previous close of 67.51. The currency opened at 67.48 a dollar. The 10-year bond yield stood at 7.972% from its Friday’s close of 7.947%.

11 Jun 2018, 09:20:00 AM IST

Asia stocks trade higher

Asia stocks shook off initial modest losses and edged up on Monday ahead of a US-North Korea summit that might ease regional tensions, while investors also started to focus on key central bank meetings later this week. Stocks dipped after US President Donald Trump backed out of a joint Group of Seven communique over the weekend, in a blow to the group’s efforts to show a united front.MSCI’s broadest index of Asia-Pacific shares outside Japan slipped early but was last up 0.15%. Hong Kong’s Hang Seng gained 0.3%, while the Shanghai Composite Index fell 0.5%. South Korea’s KOSPI added 0.4%, and Japan’s Nikkei climbed 0.3%. The S&P 500 futures were down 0.1% after dropping as much as 0.3%.