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Business News/ Market / Stock-market-news/  Market Wrap: Sensex, Nifty close higher breaking seven day losing streak
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Market Wrap: Sensex, Nifty close higher breaking seven day losing streak

BSE Sensex closed higher by 330.45 points at 34,413.16, while the Nifty 50 rose 100.15 points to close at 10,576.85. Here are the latest updates from markets

BSE Sensex and NSE Nifty closed higher on Thursday. Photo: MintPremium
BSE Sensex and NSE Nifty closed higher on Thursday. Photo: Mint

MUMBAI :Mumbai: Benchmarks BSE Sensex and NSE Nifty closed higher on Thursday ending a seven-day losing streak. BSE Sensex closed 330 points higher, while Nifty 50 ended 100 points up. Outperforming the 30-share index, BSE MidCap and SmallCap gained 1.82% and 2.25%, respectively. All the sectoral indices on BSE except oil and gas ended higher led by healthcare, basic materials and realty. On NSE, Nifty PSU Bank index rallied over 2%. Sun Pharma, Dr. Reddy’s Labs, SBI and Infosys were top gainers, whereas PowerGrid, NTPC, Tata Motors and ONGC were among the major losers. Here are the latest updates from markets:

08 Feb 2018, 03:34:00 PM IST

Closing bell

BSE Sensex closed higher by 330.45 points, or 0.97%, to 34,413.16, while the Nifty 50 rose 100.15 points, or 0.96%, to close at 10,576.85.

08 Feb 2018, 02:43:00 PM IST

Market update

BSE Sensex traded higher by 310.72 points, or 0.91%, to 34,393.43, while the Nifty 50 rose 93.80 points, or 0.90%, to 10,570.50.

08 Feb 2018, 02:40:00 PM IST

BHEL Q3 net profit rises

Bharat Heavy Electricals Ltd posted a nearly 64% rise in third-quarter net profit, but missed analysts’ expectations. Net profit rose to Rs153 crore, up from Rs93.54 crore a year ago. Analysts on average had expected a profit of Rs190 crore, according to Thomson Reuters data. Total revenue from operations rose marginally to Rs6,626 crore. Shares traded 0.59% up at Rs94.50. (Reuters)

08 Feb 2018, 02:37:00 PM IST

European shares trade lower

European stock markets slid at the start of trading as volatility continued to dominate global equities trading. London’s FTSE 100 dropped 0.8% to 7,219.19 points. Frankfurt’s DAX 30 shed 0.7% to 12,506.18 points and the Paris CAC 40 lost 0.5% to 5,229.78. After slumping in the region of 2.5% on Tuesday, Europe’s leading stock markets ended Wednesday’s sessions with gains of between around 1.5 and 2.0%. (AFP)

08 Feb 2018, 02:35:00 PM IST

Bond yield falls further, rupee rises against US dollar

Government bond yields extended their recent losses after RBI maintained a neutral policy stance in its recent review. The yield on India’s 10-year government bond was 7.487%, compared to its previous close of 7.530%. Meanwhile, the rupee was trading at 64.26 a dollar, up 0.14% from its previous close of 64.29.

08 Feb 2018, 01:42:00 PM IST

Net profit rises for Bajaj Electricals in Q3

Bajaj Electricals Ltd reported a net profit of Rs36.83 crore in the quarter ended 31 December 2017 versus Rs29.71 crore a year ago. The company’s total income from operations rose to Rs1,145 crore from Rs1,055 crore in December 2016 quarter. Shares traded 0.09% up at Rs487.55.

08 Feb 2018, 01:13:00 PM IST

Market update

BSE Sensex traded higher by 417.70 points, or 1.23%, to 34,500.41, while the Nifty 50 rose 118.70 points, or 1.13%, to 10,595.40.

08 Feb 2018, 01:10:00 PM IST

PSP Projects shares jump 5% as profit rises

PSP Projects Ltd shares rose 5.76% to Rs524.90 after the company reported a net profit of Rs15.18 crore in the December 2017 quarter versus a profit Rs7.32 crore a year ago.

08 Feb 2018, 01:07:00 PM IST

Sectoral indices

All the sectoral indices on BSE traded higher. Realty, healthcare, IT and teck leading the gains by rising up to 3.35%. SmallCap index outperformed the Sensex by rising 2.45%, while MidCap was up 1.80%.

08 Feb 2018, 01:05:00 PM IST

Healthcare stocks trade higher

Healthcare stocks trade higher. Morepen Labs jumped 17.10%, FDC 11.53%, Cipla 6.73%, Caplin Point Labs 4.52%, Sun Pharma 3.47%, IPCA Labs 3.45%.

08 Feb 2018, 11:53:00 AM IST

Market update

BSE Sensex traded higher by 437.34 points, or 1.28%, to 34,520.05, while the Nifty 50 rose 126.40 points, or 1.21%, to 10,603.10.

08 Feb 2018, 11:50:00 AM IST

Steel Strips Wheels shares jump 5%

Steel Strips Wheels Ltd announced that Kalink Co. has increases its stake in the company to 1.73%. Shares jumped 5.26% to Rs1,035.

08 Feb 2018, 11:48:00 AM IST

Prestige Estates partners with HDFC to boost affordable housing biz

Prestige Estates Projects Ltd said it has signed a strategic partnership agreement with HDFC Capital Advisors Ltd to boost its business in mid income and affordable housing sector. Shares rose 5% to Rs305.

08 Feb 2018, 11:45:00 AM IST

SRF shares rise as brokerage upgrades stock

SRF Ltd shares rose 6% to Rs1,872.50 after brokerage house Emkay has upgraded the stock to buy and increased its target price to Rs1,978 a share.

08 Feb 2018, 11:40:00 AM IST

FDC shares gain on Q3 result

FDC Ltd shares gained 6% to Rs270 after the company reported a profit of Rs42.66 crore in December quarter, up 94% from a year ago.

08 Feb 2018, 10:43:00 AM IST

Market update

BSE Sensex traded higher by 401.65 points, or 1.18%, to 34,484.36, while the Nifty 50 rose 112.65 points, or 1.08%, to 10,589.35. Midcap was up 1.42%, while Smallcap rose 2.04%. All the sectoral indices on BSE traded higher.

08 Feb 2018, 10:40:00 AM IST

Aviation stocks trade higher

Among aviation stocks, SpiceJet Ltd rose 5%, Jet Airways India Ltd 2.3% and InterGlobe Aviation Ltd was up 1.4%.

08 Feb 2018, 10:37:00 AM IST

Vedanta shares fall after SC cancels mining leases in Goa

Vedanta Ltd shares fell 2.7% to Rs306.70 after the Supreme Court on Wednesday cancelled 88 iron ore mining leases in Goa, dealing a blow to miners including Vedanta Ltd. The existing leases will run till 15 March, after which mining activity has to stop, the court directed.

08 Feb 2018, 10:35:00 AM IST

Uflex shares drop over 5% on Q3 result

Uflex Ltd shares declined 5.1% to Rs373.10 after the company reported a 29.5% drop in its net profit to Rs52.01 crore in December quarter.

08 Feb 2018, 10:32:00 AM IST

Hexaware Technologies shares trade lower as profit declines

Hexaware Technologies Ltd shares were down 5.6% to Rs335.70 after the company reported a 15% fall in its December quarter profit to Rs121 crore. Its revenue declined 1.3% to Rs 1004.80 crore.

08 Feb 2018, 10:30:00 AM IST

RBI gets ‘mojo’ back as it warns of budget risks

RBI’s monetary policy committee displayed its independent streak, flagging inflationary risks from an expansionary Union budget and shifting toward a more hawkish bent.

08 Feb 2018, 09:53:00 AM IST

Sun Pharma shares decline on weak Taro Pharma earnings

Sun Pharmaceuticals Industries Ltd shares fell 2% to Rs538.50 after its arm Taro Pharmaceuticals Industries Ltd reported weak earnings. Gross profit decreased $64.4 million, and as a percentage of net sales was 66.2% compared to 75.9%.

08 Feb 2018, 09:50:00 AM IST

Oil marketing companies shares gain as oil prices fall

Oil marketing and aviation companies trading higher after international crude oil prices fell. Bharat Petroleum Corp. Ltd rose 3.3%, Hindustan Petroleum Corp. Ltd rose 3%, Indian Oil Corp. Ltd rose 1.2%.

08 Feb 2018, 09:47:00 AM IST

Cipla shares gain on positive December quarter result

Cipla Ltd shares rose 6% to Rs601.45 after the company reported a 7% rise in its December quarter net profit to Rs401 crore from Rs375 crore a year earlier. Revenue from India rose 15% to Rs1,601 crore. Domestic revenue accounted for more than a third of the total revenue, which rose 7% to Rs3,914 crore.

08 Feb 2018, 09:45:00 AM IST

Bond yield falls further, rupee weakens against US dollar

Government bond yields extended their recent losses on Thursday morning after RBI maintained a neutral policy stance in its recent review, which assuaged concerns of a near-term rate hike. Yield on India’s benchmark 10-year government bond was trading at 7.502% from its previous close of 7.53%.The Indian rupee weakened for eight out of nine trading sessions against the US dollar. The home currency was trading at 64.33 a dollar, down 0.1% from its previous close of 64.29. The currency opened at 64.38 and touched a low of 64.39 a dollar.

08 Feb 2018, 09:40:00 PM IST

Market update

BSE Sensex trades higher by 256.97 points, or 0.75%, to 34,339.68, while the Nifty 50 rises 77.95 points, or 0.74%, to 10,554.65.

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