Market Wrap: Sensex, Nifty hit record closing highs, private banks up6 min read . Updated: 15 Jan 2018, 05:54 PM IST
BSE Sensex closed at new peak of 34,843, while the Nifty ended at record 10,741 points. Here are the highlights from the markets
MUMBAI : Mumbai: The BSE Sensex and the NSE Nifty on Monday hit record closing highs for the third straight session on Monday, led by gains in private lenders, as better-than-expected growth in industrial output and a global equities rally lifted sentiment. The Nifty ended up at 10,741.55, while the benchmark Sensex closed higher at 34,843.51. Here are the main highlights from the markets:
Rupee strengthens against US dollar
The rupee closed at 63.49 a dollar, up 0.24% from its Friday’s close of 63.64. The rupee opened at 63.51 a dollar and touched a high and a low of 63.34 and 63.51, respectively. The 10-year bond yield ended at 7.267% compared to its previous close of 7.282%. Bond yields and prices move in opposite directions. So far this year, the rupee gained 0.6%, while foreign investors bought $259.10 million and $494.70 million in equities and bonds, respectively.
BSE Sensex zooms 251.12 points to close at new peak of 34,843.51, while Nifty surges 60.30 points to end at record 10,741.55. (PTI)
Merck shares surge after LIC sells over 2% stake
Life Insurance Corporation (LIC) has sold a little over 2% stake in drug and chemical firm Merck Ltd through an open market transaction. With the sale, the total shareholding of the insurer has come down to 5.6%, Merck Ltd said in a BSE filing. LIC earlier had 12,74,823 shares in the company constituting 7.68% stake. It sold 3,43,147 shares totalling 2.06%. Merck’s stock surged to a 52-week high of Rs1,687.30 and trading volume soared over 7.25 times in day trade on BSE. Over 5.5 lakh shares of the company were traded on both NSE and BSE stock exchanges. Merck shares closed up 16.70% at Rs1,640.85 on the BSE on Monday. (PTI)
BSE Sensex trades higher by 289.43 points, or 0.84%, to 34,881.82, while the Nifty 50 rises 68.80 points, or 0.64%, to 10,750.05.
DCB Bank raises Rs150 crore via bonds
Private sector lender DCB Bank today said it has raised Rs 150 crore through issuance of bonds on a private placement basis. The bank in a regulatory filing said that the capital raising committee of its board of directors issued and “allotted 15,000 non-convertible, redeemable, unsecured, Basel-III compliant tier 2 bonds, for inclusion in tier 2 capital of the bank in the nature of debentures of the face value of Rs1 lakh each at par aggregating to Rs150 crore on private placement basis”. These bonds carry an interest rate of 9.85% per annum for a period of ten years from 12 January 2018. Shares of DCB Bank were trading 0.82% higher at Rs202.60 on BSE at 3.16pm on Monday. (PTI)
Larsen & Toubro wins Rs1,310 crore contracts, stock down
Engineering giant Larsen & Toubro (L&T) on Monday said its construction arm has won contracts worth Rs1,310 crore in various business segments. “The construction arm of L&T has won orders worth Rs 1,310 Crore across various business segments,” the company said in a statement. It said its Water & Effluent Treatment Business has won orders worth Rs631 crore including a contract from Bihar Urban Infrastructure Development Corporation Ltd to lay a new sewerage network and construct pumping stations at Saidpur. The Buildings & Factories Business has won an order worth Rs340 crore, it said. Besides, its Power Transmission & Distribution Business has bagged orders worth Rs339 crore. Shares of the company were trading marginally down by 0.10% at 1,327.90 on BSE at 1.50hrs. (PTI)
BSE Sensex trades higher by 272.89 points, or 0.79%, to 34,865.28, while the Nifty 50 rises 67.45 points, or 0.63%, to 10,748.70.
Rupee trades at 63.45 a dollar
At 2pm, the Indian rupee was trading at 63.45 a dollar, up 0.31% from its Friday’s close of 63.64. The rupee opened at 63.51 a dollar and touched a high and a low of 63.34 and 63.51 respectively.The 10-year bond yield was at 7.284% compared to its previous close of 7.282%. Bond yields and prices move in opposite directions. So far this year, Rupee gained 0.7% while foreign investors bought $259.10 million and $494.70 million in equities and bonds respectively.
Eicher Motors shares fall by 2%
Eicher Motors Ltd fell 2% to Rs28000. The stock fell nearly 7.5% so far this year. Since 1 November 2016, it fell over 13%.
BSE Sensex trades higher by 286.64 points, or 0.83%, to 34,879.03, while the Nifty 50 rises 69.85 points, or 0.65%, to 10,751.10.
Sintex Industries shares fall 5%
Sintex Industries Ltd fell 5% to Rs25.45 after the company reported 50% decline in its net profit to Rs21.10 crore from Rs42.30 crore a year ago.
Karnataka Bank shares fall by over 3%
Karnataka Bank fell 3.11% to Rs161.80. The bank on Friday registered a net profit of Rs87.38 crore in Q3 FY18 as against Rs68.52 crore in the corresponding year-ago period.
BSE Sensex trades higher by 304.44 points, or 0.88%, to 34,896.83, while the Nifty 50 rises 82.90 points, or 0.78%, to 10,764.15.
BSE Sensex trades higher by 364.75 points, or 1.05%, to 34,957.14, while the Nifty 50 rises 95.85 points, or 0.90%, to 10,777.10.
Federal Bank shares rise 1% to Rs116
Federal Bank rose 1% to Rs116 ahead of its December quarter earnings. According to eight Bloomberg analyst estimates, the bank may report a net profit of Rs258.20 crore.
Housing Development & Infrastructure shares rise 8%
Housing Development & Infrastructure Ltd rose 8% to Rs68.70 after the company approved allotment of Rs200 crore warrants to promoter at Rs70.5 per warrant.
BSE Sensex trades higher by 325.94 points, or 0.94%, to 34,918.33, while the Nifty 50 rises 88.05 points, or 0.82%, to 10,769.30
ICICI Bank shares rise 4%
ICICI bank rose 4% to Rs328.95 after Brokerage firm Morgan Stanley rated the stock with overweight and increased its target price to Rs480 a share. The brokerage firm said the stock has potential to return more than 50% this year as its loan quality and weak profitability “turn around meaningfully, Bloomberg reported.
BSE shares rise over 1%
BSE Ltd rose 1.4% to Rs975 after ET Now reported that, the Asia’s oldest stock exchange, is planning to buyback its shares.
BSE Sensex trades higher by 236.79 points, or 0.68%, to 34,829.18, while the Nifty 50 rises 67.55 points, or 0.63%, to 10,748.80.
Granules India shares rise 2%
Granules India Ltd rose 2% to Rs146.95 after the company said Reserve Bank of India hiked its FPI limit hiked to 49% from 24% earlier.
HDFC shares rise 2%
HDFC Ltd rose 2% to Rs1,794 after the firm said it will raise around Rs11,104 crore from marquee institutional investors like KKR, GIC and Premji Invest, among others. Separately, the country’s largest mortgage lender will also be raising up to Rs1, 896 crore through qualified institutional placement (QIP).
Shares of Capital First, IDFC Bank up after merger announcement
Capital First Ltd rose 5% to Rs874.70, while IDFC Bank Ltd fell 3.2% to Rs65.50. Both the firms on Saturday announced a merger to form a combined entity with assets under management of Rs88,000 crore, branch network of 194 and customer base of over 5 million. As per the agreement, IDFC Bank will issue 139 shares for every 10 shares of Capital First.
Rupee opens at 63.51 against US dollar
The Indian rupee on Monday strengthened against the US dollar, tracking gains in the local equity and Asian currencies market. The rupee opened at 63.51 a dollar. At 9.15am, the home currency was trading at 63.43 a dollar, up 0.33% from its Friday’s close of 63.64.
Bond yield gains amid concern of rising inflation
Bond yield gained amid concerns of rising inflation and speculations that the government may miss the fiscal deficit target. The 10-year bond yield was at 7.292% compared to its previous close of 7.282%. Bond yields and prices move in opposite directions.
Asian currencies trade higher
Asian currencies were trading higher. China renminbi was up 0.49%, China offshore 0.37%, Taiwan dollar 0.31%, Malaysian ringgit 0.3%, Japanese yen 0.27%, South Korean won 0.25%, Indonesian rupiah 0.12% and Singapore dollar gained 0.11%.
Sensex, Nifty trade higher
BSE Sensex trades higher by 185 points, or 0.54%, to 34,777.61, while the Nifty 50 rises 49.60 points, or 0.46%, to 10,730.85.