Indian equity market likely to remain volatile. (Photo: Hemant Mishra/Mint)
Indian equity market likely to remain volatile. (Photo: Hemant Mishra/Mint)

Market Highlights: Sensex, Nifty ends with gain ahead of GDP data

  • All the 11 sectors compiled on NSE ended in the green zone with Nifty Pharma taking the lead
  • BSE Midcap and Smallcap gauges rose 1.01% and 0.84% respectively

After a volatile session, both the equity benchmark indices on Friday closed with gains ahead of the GDP data release and fiscal deficit numbers.

Sensex closes at 37,332.79 up 263.86 points, or 0.71%, while the 50-share Nifty rose 74.95 points, or 0.68%, settling at 11,023.25.

All the 11 sectors compiled on NSE ended in the green zone with Nifty Pharma taking the lead, rising 2.02%. Nifty Information Technology (1.79%), FMCG (1.76%), Metal (1.58%) and Realty (1.29%) were the other top sectoral gainers.

In the broader market, the BSE Midcap and Smallcap gauges rose 1.01% and 0.84% respectively.

"Prospects of effective communication between US-China team added positivity in the global market. While Indian Bond market remained flat waiting for Q1 GDP data with a negative bias, but equity market inched higher, expecting more supportive measures from the government improving the economic growth in the coming quarters," said Vinod Nair, head of research, Geojit Financial Services.

Yes Bank, Sun Pharma, IndusInd Bank, Tata Steel and Hindustan Unilever were the most contributing stocks on Sensex pack, surging as much as 3.75%.

Globally, Asian shares rose as China struck a hopeful tone on trade with the United States but continued fears about a global growth slowdown, or even a recession, capped sharp rallies. Investors were focused on a string of economic releases due over the weekend including China’s official manufacturing survey which would provide a good gauge of the real impact from the Sino-US trade war.

30 Aug 2019, 03:54:15 PM IST

Market at close

Sensex closes at 37,332.79 up 263.86 points, or 0.71%, while the 50-share Nifty rose 74.95 points, or 0.68%, settling at 11,023.25.

30 Aug 2019, 03:12:46 PM IST

All the sectors turns green

All the 11 sectors complied on NSE, turned green with Nifty FMCG (1.65%) taking the poll position. Other gainers are Pharma (1.60%), Metal (1.29%) and Media (1.23%).

30 Aug 2019, 02:16:42 PM IST

Top gainers on Nifty

Sun Pharma, Vedanta, Zee Entertainment, Tata Steel and ITC top contributors on Nifty, rising as much as 3.05%.

30 Aug 2019, 01:26:55 PM IST

PSU Banks continue to fall

Shares of PSU Banks on Nifty takes the bottom position. The Nifty PSU Bank gauge is down 1.74%.

Indian Bank, Union Bank of India, Bank of India, State Bank of India and Bank of Baroda are the worst performers in the sector.

30 Aug 2019, 12:16:23 PM IST

NTPC down nearly 4%

Shares of NTPC is trading 3.74% lower at 118.45 on BSE after the company incorporated a wholly owned subsidiary in the name of "NTPC Mining Limited" for taking up coal mining business.

On NSE, the company is down 4.59%.

30 Aug 2019, 11:35:40 AM IST

Yes Bank dips over 1% ahead of board meet

Share of Yes Bank is trading at 56.60 down 1.13% on BSE ahead of the its board meet which is expected to consider fundraising. On NSE, the stock is down 1.22%.

30 Aug 2019, 11:05:45 AM IST

Indian markets unlikely to rise in a hurry: Analysts

Indian stocks will rise over the coming year, but are unlikely to recoup their recent losses, according to equity strategists in a Reuters poll who cited worries about the ongoing economic slowdown and weak corporate earnings. The poll of over 50 strategists taken over the past week showed the Sensex index will gain 2% to 38,400 by end-2019 from Tuesday's close of 37,641.27. It is then expeYes cted to rise to 39,800 by end-June 2020 and remain around that level to end-2020, a downgrade from predictions made three months ago.

30 Aug 2019, 10:38:56 AM IST

Gruh Finance up nearly 5% on stake sale by HDFC

Shares of Gruh Finance gains 4.25% at 259.80 on BSE. HDFC will raise 1,678 crore by selling 9.2% in Gruh Finance. The sale of 67.4 million shares is expected to happen at a floor price of 243 to 249 per share in the open market today.

On NSE, the company is trading up 4.09%.

30 Aug 2019, 10:38:56 AM IST

Information Technology sector continues to drag

Shares of Nifty IT sector is trading down by 0.73% as the rupee gains against the US dollar.

NIIT Tech, Mindtree, HCL Tehnologies, Tech Mahindra and Oracle Financial Services top losers among the sector.

30 Aug 2019, 10:15:59 AM IST

SBI's credit card business aims to raise via IPO

SBI Card & Payments Services Ltd, the credit card subsidiary of State Bank of India (SBI), plans to raise about 8,000 crore ($1.12 billion) via an initial public offering this year, a senior SBI executive involved in the process said.

SBI has already tapped banks to run the IPO process and a listing is expected to happen in the last quarter of this financial year, bank officials have previously said.

"Roughly about an 8% stake will be divested and after seeing the valuations and the inputs we are getting it would translate to 80 billion rupees," said the source directly involved in the process, who asked not to be named as the details are not public.

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30 Aug 2019, 10:13:30 AM IST

Midcap and Smallcap in green

The BSE Midcap and Smallcap indices are trading up by 0.65% and 0.57% respectively.

30 Aug 2019, 09:58:27 AM IST

Nifty Metal gains on US-China trade talk optimism

Nifty Metal is the best performing sectors, rising 2.35% on US-China trade talk optimism.

Jindal Steel (3.99%), Hindalco (3.48%), National Aluminium (2.99%), Hindustan Zinc (2.96%) and Tata Steel (2.88%) are the top gainers in the sector.

30 Aug 2019, 09:40:58 AM IST

Nifty back at 11,000

The 50-share index is trading at 11,000.75 rising 52.45 points, or 0.48%.

30 Aug 2019, 09:37:13 AM IST

L&T's Power Business wins order from THDC India

L&T's Power business bagged a large order in range of 2,500-5,000 crore from THDC India, the company informed the exchanges.

Shares of Larsen and Toubro (L&T) is trading at 1353, gaining 0.76% on BSE.

30 Aug 2019, 09:32:52 AM IST

Adani Green Energy zoomed over 8%

Shares of Adani Green Energy rose 8.06% at 46.90 on NSE in the morning trade as the company signed definitve agreement to acquire 10 renewable power-based companies which are valued at enterprise value of 1,300 crore from Essel Group.

On BSE, the company trades at 46.65 surging 7.61%.

30 Aug 2019, 09:32:52 AM IST

Nine out of 11 sectors on Nifty opens positive

Except for Nifty Information Technology (-0.31%) and Pharma (-0.25%), all the other nine sectors opened with gains. Nifty Metal top sector gainer, rising 1.08%.

30 Aug 2019, 09:18:41 AM IST

Sensex, Nifty opens positive

Sensex opened at 37,232.85 rising 163.92 points, or 0.44%, in the opening bell, while the 50-share index gained 42.65 points, or 0.39%, at 10,990.95.

30 Aug 2019, 09:15:16 AM IST

Five reasons to watch out for the June quarter GDP growth

The National Statistical Office on Friday will release India’s economic growth figures for the April-June quarter of 2019-20. Most analysts expect the GDP growth rate in June quarter to be less than 5.8% secured in the March quarter of 2018-19. The Reserve Bank of India (RBI) has projected India's GDP growth for FY20 at 6.9%. Here are the five probable implications:

Economic Slowdown: Most analysts expect the GDP growth rate in June quarter to be less than 5.8% secured in the March quarter of 2018-19 which was a five year low. If the GDP print comes below 5.8%, then it will be confirmed that the deceleration in economic activity is still ongoing and a recovery may not happen anytime soon. On the contrary, if the GDP print comes above 5.8%, it may lead to conclusion that the process of economy recovery has begun.

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30 Aug 2019, 09:09:18 AM IST

Rupee, bond traders flat ahead of key GDP data

The Indian rupee and bond was trading little changed as traders are awaiting the release of gross domestic product data due later on Friday. The currency opened at 71.77 to a dollar. At 9.10 am, the domestic currency was trading at 71.76, up 0.01% from its Thursday's close of 71.72.

The 10-year government bond yield was at 6.558% compared with its previous close of 6.551%.

30 Aug 2019, 09:04:36 AM IST

Markets at pre-open

Sensex opens positive at 37,229.19 rising 160.26 points, or 0.43%, during the pre-opening session, while the broader Nifty fell 97.80 points, or 0.89%, at 10,948.30.

30 Aug 2019, 09:32:53 AM IST

Stocks in focus

HDFC Bank: The board agreed to sell its entire 10% stake in equiry share of GSR network for total consideration of 1 crore to various state governments and Union Territories.

Yes Bank: The board likely to consider raising funds today.

PNC Infratech: The company bagged a national highway EPC project worth 1,062 crore.

Grasim Industries: The board approved increase in limit of NCDs of up to 2,500 crore.

Adani Green Energy: The company signed definitve agreement to acquire 10 renewable power-based companies which are valued at enterprise value of 1,300 crore from Essel Group.

30 Aug 2019, 08:54:14 AM IST

SGX Nifty suggests negative opening

SGX Nifty closed at 10,991.00 losing 17.00 points, or -0.15%.

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