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

Market Wrap: Sensex closes 303 points higher, Nifty at 10,582, realty, auto stocks rally

BSE Sensex closed higher by 303.60 points at 34,445.75, while the Nifty 50 rose 91.55 points to closed at 10,582.60. Here are the highlights from the markets

MUMBAI : Mumbai: Shares posted gains for a second straight session on Monday, with BSE Sensex closing over 300 points higher and NSE’s Nifty 50 closing at 10,582. Shares were boosted by gains in auto and realty stocks, offsetting losses in IT and Teck. The gains come after stock markets fell on worries over the fallout from a $1.8 billion fraud at Punjab National Bank. This week, markets will watch for gross domestic product (GDP) data for the December quarter to be released on Wednesday. Maruti, Tata Motors, IndusInd Bank and L&T were top gainers, whereas Sun Pharma, TCS, Infosys and ITC were among the major losers. Here are the highlights from the markets:

26 Feb 2018, 03:33:00 PM IST

Closing bell

BSE Sensex closed higher by 303.60 points, or 0.89%, to 34,445.75, while the Nifty 50 rose 91.55 points, or 0.87%, to closed at 10,582.60.

26 Feb 2018, 03:07:00 PM IST

Lupin launched generic Axiron topical solution in the US

Lupin Ltd said it has launched Testosterone Topical Solution, 30 mg per actuation is the generic equivalent of Eli Li lly and its Axiron Topical Solution. Shares gained 1.72% to Rs821.

26 Feb 2018, 03:03:00 PM IST

Reliance Infra wins arbitration award against Goa government

Reliance Infrastructure Ltd shares rose 3.17% to Rs469.25 after the company said it has won an arbitration award of Rs292 crore against Government of Goa.

26 Feb 2018, 02:37:00 PM IST

Market update

BSE Sensex traded higher by 303.76 points, or 0.89%, to 34,445.91, while the Nifty 50 rose 91.35 points, or 0.87%, to 10,582.40. Among the sectoral indices on BSE, IT and Teck extend losses and were trading lower by 1.15% and 0.77%, respectively. Realty, auto, industrials, capital goods and bankex extend gains. MidCap was up 0.67%, while SmallCap gained 0.87%.

26 Feb 2018, 02:35:00 PM IST

UPL unit to launch dollar denominated debt offering

UPL Ltd said its unit UPL Corp. Ltd has approved the proposal to launch an offering of US dollar denominated senior unsecured notes. Shares rose 3% to Rs721.

26 Feb 2018, 02:33:00 PM IST

Rupee erases gains, trades lower against US dollar

Indian rupee erased all the morning gains and was trading marginally weaker against US dollar on Monday. The 10-year bond prices too erased its morning gains. At 2.10pm, the home currency was trading at 64.80, down 0.11% from its previous close of 64.73. The local currency opened at 64.70 a dollar and touched a high and a low of 64.63 and 64.78 respectively. Yields on 10-year government bonds was at 7.702% compared to its Friday’s close of 7.670%.

26 Feb 2018, 02:30:00 PM IST

BSNL selects Nokia to launch 4G service in 10 circles

Bharat Sanchar Nigam Ltd (BSNL) Monday signed a pact with Finnish telecom gear maker Nokia to roll out 4G services in 10 telecom circles covering western and southern regions in India. Bharat Sanchar Nigam Ltd (BSNL) Monday signed a pact with Finnish telecom gear maker Nokia to roll out 4G services in 10 telecom circles covering western and southern regions in India.

26 Feb 2018, 01:27:00 PM IST

Q3 GDP growth likely 6.9%, best in 2017, says poll

India’s economy grew at its fastest pace in a year in the October-December quarter as consumers, businesses and the government stepped up spending, a Reuters poll predicted. This suggests that disruptions from a shock ban on high-value currency notes in November 2016 and the chaotic launch of a goods and services tax (GST) in July are fading.Gross domestic product (GDP) grew 6.9% in the October-December quarter from a year earlier, according to the poll of more than 35 economists, taken over the past week. If the data, due at 5.30pm on 28 February, matches the consensus, the quarter will have the best growth rate in 2017.

26 Feb 2018, 09:25:00 AM IST

RCom shares jump 12% on block deal

Reliance Communications Ltd shares surged 12% to Rs30.10 after huge block deal. Around 2 million shares of the company changed hands in a block deal, Bloomberg reported. However, details of the buyers and sellers were not known.

26 Feb 2018, 12:20:00 PM IST

Market update

BSE Sensex traded higher by 237.43 points, or 0.70%, to 34,379.58, while the Nifty 50 rose 74.05 points, or 0.71%, to 10,565.10. BSE MidCap and SmallCap rose 0.87% and 0.85%, respectively. Among the sectoral indices on BSE, realty, auto, capital goods, oil and gas, and industrials gained, whereas IT, Teck and Healthcare declined.

26 Feb 2018, 12:17:00 AM IST

Strides Shasun to launch Ranitidine tablets in US

Strides Shasun Ltd shares rose 2.97% to Rs713.50 after the company said that it will launch Ranitidine tablets USP 150 mg (OTC) in the US markets.

26 Feb 2018, 12:15:00 PM IST

Tejnaksh Healthcare considers bonus shares issue

Tejnaksh Healthcare Ltd shares rose 3.29% to Rs447.25 after the company has proposed to consider issuing a bonus equity share.

26 Feb 2018, 11:25:00 AM IST

Oriental Bank of Commerce shares fall over 9%

Oriental Bank of Commerce disclosed that it has declared Dwarka Das Seth International Pvt. Ltd and Dwarka Das Seth SEZ India Inc. wilful defaulters, and has reported theses accounts as fraud to CBI and RBI. Shares fall 9.69% to Rs95.50.

26 Feb 2018, 11:22:00 AM IST

Aster DM Healthcare shares fall 4% on stock market debut

Shares of Aster DM Healthcare Ltd made stock market debut on a tepid note on Monday. The stock was listed at Rs182.10, down from its issue price of Rs190 per share. The stock touched a high and a low of Rs187.80 and Rs176.45, respectively. It was trading at Rs181.60 on the BSE, down 4.42% from its issue price of Rs190 a share.

26 Feb 2018, 11:20:00 AM IST

Sun Pharma shares fall after USFDA issues observations

Sun Pharma shares trade 1.50% lower at Rs561.65 after the USFDA had made three observations after inspecting its factory at Halol in Gujarat, for failing to meet good manufacturing practice standards. In early trading, the shares fell as much as 2.66% to Rs555.

26 Feb 2018, 11:17:00 AM IST

Xpro India shares gain

Xpro India Ltd shares rose 2.84% to Rs54.30 after the company said its shareholders approved a proposal to sale its Pithampur unit.

26 Feb 2018, 10:25:00 AM IST

Market update

BSE Sensex traded higher by 233.39 points, or 0.68%, to 34,375.54, while the Nifty 50 rose 76.50 points, or 0.73%, to 10,567.55. BSE MidCap was up 0.61%, and SmallCap rose 0.78%. Sixteen out of nineteen sectoral indices on BSE trade higher led by realty, up 2.36%, industrials 1.53%, auto 1.54% and capital goods 1.49%. IT, healthcare and Teck declined 0.45%, 0.16% and 0.21%, respectively.

26 Feb 2018, 10:23:00 AM IST

Aviation shares trade higher

Aviation stocks gains. InterGlobe Aviation Ltd rose 3%, SpiceJet Ltd and Jet Airways India Ltd gained over 2% each

26 Feb 2018, 10:20:00 AM IST

Sterlite Technologies shares gain on receipt of order

Sterlite Technologies Ltd shares rose 8% to Rs371.20 after the company said it got an order worth Rs3,500 crore to build communications network from Indian Navy.

26 Feb 2018, 09:40:00 AM IST

Metal stocks trade higher

Metal stocks gains. Steel Authority of India rose 3%, Hindustan Zinc 2.2%, Jindal Steel and Power Ltd 1.6%. Tata Steel Ltd 1.6%, NMDC 1.4%, Vedanta Ltd 1.4%, JSW Steel Ltd 1.4% and Hindalco Industries Ltd was up 1.2%.

26 Feb 2018, 09:37:00 AM IST

Oriental Bank of Commerce shares fall as CBI probes fraud case

Oriental Bank of Commerce shares fell 9% to Rs96.50, while Simbhaoli Sugars Ltd shares declined 20% to Rs13.70. The Central Bureau of Investigation (CBI) on Sunday registered a case against Simbhaoli Sugars Ltd and its top executives for causing a loss of Rs109 crore to state-owned Oriental Bank of Commerce (OBC). In the first information report (FIR), the investigative agency named the company, which is one of India’s largest sugar makers, its chairman and managing director, chief executive officer, chief financial officer and directors for allegedly defrauding the bank.

26 Feb 2018, 09:35:00 AM IST

Dr Reddy’s Labs shares fall 5%

Dr. Reddy’s Laboratories Ltd shares shed 5% to Rs2,080 after the USFDA maintains OAI status on Dr. Reddy’s Srikakulam plant.

26 Feb 2018, 09:33:00 AM IST

RBI’s monetary policy committee’s next move likely to be rate hike: Morgan Stanley

The monetary policy committee’s next move will likely be a rate hike but this will not be taken up immediately as a recovery is still at nascent stage, says a Morgan Stanley report.

26 Feb 2018, 09:30:00 AM IST

Rupee gains against US dollar in opening trade

The Indian rupee strengthened against the US dollar, after global markets gained and US treasury yield steadied. The local currency opened at 64.70 a dollar. At 9.15am, the home currency was trading at 64.66, up 0.12% from its previous close of 64.73. Yields on 10-year government bonds was at 7.651% compared to its Friday’s close of 7.670%. Bond yields and prices move in opposite directions.

26 Feb 2018, 09:25:00 AM IST

Market update

BSE Sensex traded higher by 108.45 points, or 0.32%, to 34,250.60, while the Nifty 50 rose 30.95 points, or 0.30%, to 10,522.

Close
×
My Reads Logout