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:
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.
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.
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)
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)
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.
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.
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.
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.
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%.
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%.
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.
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.
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.
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.
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.
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.
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%.
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.
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.
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.
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.
RBI gets ‘mojo' back as it warns of budget risks https://t.co/Tk4V8BvQOH
— Livemint (@livemint) February 8, 2018
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%.
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%.
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.
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.
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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