Sensex, Nifty jump; Tata Motors surges 15% on Brexit deal3 min read . Updated: 17 Oct 2019, 04:51 PM IST
- The Sensex gained 453.07 points, or 1.17%, to close at 39,052.06
- The Nifty gained 122.35 points, or 1.07%, to close at 11,586.35
Mumbai: Key indices rose for fifth consecutive day as Finance minister Nirmala Sitharaman said more reforms are on the anvil this fiscal to boost growth as fresh economic data and subdued corporate earnings point to a deeper economic downturn and UK clears Brexit deal. The benchmark index, the S&P BSE Sensex, gained 453.07 points, or 1.17%, to close at 39,052.06 points and the Nifty 50 index gained 122.35 points, or 1.07%, to close at 11,586.35 points.
In the broader market, the S&P BSE Mid-Cap index was up 1.77%. The S&P BSE Small-Cap index was up 0.89%.The market breadth favored the bulls. On the BSE, 1427 shares rose and 1058 shares fell and a total of 195 shares remained unchanged. In Nifty 50 index, 30 stocks advanced while 20 stocks declined.
Zee Entertainment Enterprises was up 1.91% ahead of its Q2 results today, 17 October 2019.
Tata Motors Ltd owner of the luxury Jaguar Land Rover brand, surged as much as 15% after
European Commission President Jean-Claude Juncker said Brexit deal has been reached to close gaining 9.82% to ₹138.15 per share.
TCI Developers Ltd tumbled 10.38% to close at ₹347.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 1 shares were traded on the counter so far as against the average daily volumes of 553 shares in the past one month.
National Aluminium Company (Nalco) was down 3% to ₹40.40 after it said that short supply of coal has severely impacted aluminium production of the company and also the cost of power, as the power purchased from the grid is costly as compared to the power produced by it at its captive power plant (CPP).
Shares of Eicher Motors climbed 6.66% to ₹20,518 after a foreign brokerage reportedly upgraded its rating on the stock to buy from sell and raised target price to ₹23,000, the brokerage said that the de-rating and downgrade cycle is coming to an end and there is a high conviction of sequential volume growth for Royal Enfield in second half of FY20. With limited price increases from BS-VI, the brokerage expects volume growth to turn positive in FY21 on a major product refresh and new model launches.
Edelweiss Financial Services rose 4.16% to close at ₹86.40 after the Competition Commission of India (CCI) has approved Kora Master Fund LP investment of up to 10% ($75 million) in Edelweiss Securities. Its principal activity is that of investment holding and related activities.
MindTree was down 2.06% to close at ₹728 per share after the company announced its Q2 figures after trading hours yesterday, 16 October 2019. Consolidated net profit jumped 45.63% to ₹135 crore on a 4.19% rise in total income to ₹1,934 crore in Q2 September 2019 compared with Q1 June 2019.
Hathway Cable & Datacom advanced 2.43% to close at ₹23.15 after the company announced a robust Q2 earnings after market hours yesterday. On a consolidated basis, the cable broadband service provider reported a net loss of ₹3.99 crore in Q2 September 2019 as against a net loss of ₹73.23 crore in Q2 September 2018.
Genesys International Corporation Ltd lost 10.91% to ₹61.25. The stock was the third biggest loser in 'B' group.On the BSE, 11252 shares were traded on the counter so far as against the average daily volumes of 1721 shares in the past one month.
IT firm Mastek was down 4.02% to close at ₹329.90. On a Consolidated net profit rose 1.73% to ₹24.64 crore on QoQ basis. The company's revenue from operations declined 1.6% to ₹243.60 during the said period.