Market wrap: Sensex rises 112 points, Nifty ends at 10,528, Tata Motors, Infosys top losers
BSE Sensex closed higher by 112.78 points at 34,305.43, while the Nifty 50 ended 47.75 points up at 10,528.35. Here are the highlights from the markets
Last Modified: Mon, Apr 16 2018. 06 23 PM IST
- 3.34 pm ISTClosing bell
- 3.10 pm ISTRupee hits fresh five-month low against US dollar
- 3.05 pm ISTKotak Mahindra Bank pips SBI to become India’s second most valuable bank
- 2.15 pm ISTMarket update
- 2.10 pm ISTUS frown over India’s forex policies
- 1.20 pm ISTSensex, Nifty trade flat
- 1.15 pm ISTWPI inflation edges down to 2.47% in March
- 1.13 pm ISTEuropean stocks diverge in initial trade
- 1.07 pm ISTReNew Power Ventures set to file for $900 million IPO
- 1.03pm ISTLite Bite Foods plans IPO to tap capital market
- 1 pm ISTSteel Strips Wheels gets new order
- 12 pm ISTMarket update
- 11.53 am ISTOil prices decline over Syria concerns
- 11.50 am ISTBHEL wins Rs137 crore order
- 11.47 am ISTUltraTech to considers issuance of NCDs
- 10.35 am ISTMarket update
- 10.30 am ISTHCL Infosystems shares down 1.4%
- 10.27 am ISTICICI Securities shares rise after quarterly result
- 9.37 am ISTInfosys shares fall 5% on earnings guidance
- 9.35 am ISTUCO Bank shares sink 15% after CBI books former chairman
- 9.33 am ISTGruh Finance shares gain 3% as Q4 net profit rises
- 9.30 am ISTWhere does the buck stop at banks?
- 9.27 am ISTRupee weakens against US dollar over Syria tension
- 9.25 am ISTMarket update
- Mumbai: The BSE Sensex managed to close in the positive zone for the eighth straight session on Monday by climbing some 113 points following a slew of positive economic data that revived overall investors’ sentiment despite mixed global cues. The flagship Sensex during the session swung both ways—nearly 408 points—on hectic selling and buying activity by participants. According to government data, inflation based on wholesale prices eased marginally to 2.47% in March on cheaper food articles, especially pulses and vegetables. Wholesale inflation was 2.48% in February and 5.11% in March last year. Besides, reflecting further improvement in the economic situation, industrial production grew by a healthy 7.1% in February while the key retail inflation slipped to a five-month low of 4.28% in March, official data showed on Thursday. The broader NSE Nifty too struggled before ending well above the 10,500-mark. Here are the main highlights from the markets today:
- 3.34 pm IST Closing bellBSE Sensex closed higher by 112.78 points, or 0.33%, to 34,305.43, while the Nifty 50 gained 47.75 points, or 0.46%, to close at 10,528.35. Among the sectoral indices on BSE, realty, healthcaere and FMCG gained, while IT, teck and consumer durables declined. BSE MidCap and SmallCap rose 0.34% and 0.56%, respectively. Kotak Bank, Hero MotoCorp, Adani Ports and M&M were top gainers, whereas Tata Motors, Infosys, SBI and ONGC were among the major losers.
- 3.10 pm IST Rupee hits fresh five-month low against US dollarThe Indian rupee on Monday hit a fresh five-month low against the US dollar as nation’s trade deficit widened more than estimated in March. The home currency was trading at 65.42 against US dollar, down 0.30% from its Friday’s close of 65.22. The rupee opened at 65.34 a dollar and touched a low of 65.47—a level last seen on 14 November 2017.
- 3.05 pm IST Kotak Mahindra Bank pips SBI to become India’s second most valuable bankShares of private lender Kotak Mahindra Bank Ltd on Monday beat India’s largest lender State Bank of India (SBI) for the first time to become the second most valued bank in the country. Data from BSE showed that Kotak Mahindra Bank has a market capitalization of Rs2,22,560.69 crore, after its shares rose 1.7% on Monday. Earlier in the day, Kotak Mahindra Bank shares climbed 1.8% to an all-time high of Rs1,170.15 apiece. SBI market capitalization stood at Rs2,22,043.74 crore. Its shares were trading at Rs248.80 on BSE, down 1% from its previous close.
- 2.15 pm IST Market updateBSE Sensex traded higher by 104.37 points, or 0.31%, to 34,297.02, while the Nifty 50 gained 30.75 points, or 0.29%, to 10,511.35. BSE MidCap edged down 0.02%, while SmallCap gained 0.36%. Among the sectoral indices on BSE, realty gained most at 1.68% followed by healthcare 0.92% and FMCG 0.77%. IT was down 0.70%, oil and gas 0.65%, and teck 0.61%.
- 2.10 pm IST US frown over India’s forex policiesIn a recent report to Congress, the US Treasury department has included India along with five other nations for their foreign exchange and macroeconomic policies
US frown over India"s forex policies https://t.co/t475pECzb4— Livemint (@livemint) April 16, 2018
- 1.15 pm IST WPI inflation edges down to 2.47% in MarchIndia’s annual wholesale price index (WPI)-based inflation slightly eased in March, helped by a fall in food prices, government data showed on Monday. Annual wholesale price inflation last month eased to 2.47% from a year earlier, a shade lower than a provisional 2.48% rise in February, and below a 2.58% increase forecast by economists in a Reuters poll. Wholesale food prices in March fell 0.07% year-on-year, compared with a 0.07% rise a month earlier, data showed. (Reuters)
- 1.13 pm IST European stocks diverge in initial tradeEuropean stock markets diverged at the opening bell in a muted reaction to US-led strikes on Syria. London’s FTSE 100 index fell 0.1% to 7,254.83 points. In the eurozone, Frankfurt’s DAX 30 rose 0.3% to 12,478.99 points compared with Thursday’s closing level. However in Paris there was no data immediately available for the CAC 40 index due to a technical incident, according to a statement from Euronext. (AFP)
- 1.07 pm IST ReNew Power Ventures set to file for $900 million IPOReNew Power Ventures Pvt. Ltd, the largest green energy company in India, will file draft share sale documents with the markets regulator for a $900 million initial public offering (IPO) before the end of the month, three people aware of the development said. The move follows ReNew’s acquisition of 1.1 gigawatts (GW) of renewable assets from Ostro Energy at an enterprise value of around Rs10,000 crore.
- 1.03pm IST Lite Bite Foods plans IPO to tap capital marketLite Bite Foods, which runs popular restaurant like Punjab Grill, Baker Street and Street Foods, is considering to raise funds through an initial public offer (IPO), reported PTI. Promoted by Dabur’s vice chairman Amit Burman and Rohit Aggarwal, the company runs close to 140 restaurant outlets through its portfolio of over a dozen brands
- 11.53 am IST Oil prices decline over Syria concernsOil fell 1% on Monday as markets opened following western air strikes in Syria over the weekend, while a rise in U.S. drilling for new production also dragged on prices. US, France and Britain launched 105 missiles on Saturday, targeting what they said were three chemical weapons facilities in Syria in retaliation for a suspected poison gas attack in Douma on 7 April.Brent crude oil futures were at $71.85 per barrel at 11.17am, down 73 cents, or 1%, from their last close. US WTI crude futures were down 57 cents, or 0.9%, at $66.82 a barrel. (Reuters)
- 10.35 am IST Market updateBSE Sensex traded lower by 49.43 points, or 0.14%, to 34,143.22, while the Nifty 50 edged down 4.75 points, or 0.05%, to 10,475.85. BSE MidCap was down 0.02%, while SmallCap gained 0.15%. Among the sectoral indices, healthcare, realty and FMCG traded higher, while IT, teck, oil and gas, and energy declined. Sun Pharma, NTPC, ITC and TCS were top gainers, whereas Infosys, Tata Motors, Axis Bank and Tata Steel were among the major losers.
- 10.30 am IST HCL Infosystems shares down 1.4%HCL Infosystems Ltd said that HCL Insys Pte. Ltd has decided to terminate the sale of its entire investments in its subsidiary namely HCL Infosystems MEA FZE to Axis Investment Inc. after the latter has failed to pay the consideration. HCL Infosystems shares were down 1.47% at Rs53.55.
- 10.27 am IST ICICI Securities shares rise after quarterly resultICICI Securities Ltd shares were trading 1.24% up at Rs427.90. The company on Saturday reported a 91% rise in net profit to Rs159 crore in the fourth quarter of 2017-18, compared to Rs83 crore in the year-ago period.
- 9.37 am IST Infosys shares fall 5% on earnings guidanceInfosys Ltd shares fell 5.3% to Rs1,107 as investors were disappointed after the company lowered its operating margin band to 22-24% for 2018-19.
- 9.35 am IST UCO Bank shares sink 15% after CBI books former chairmanUCO Bank Ltd shares declined 15% to Rs19.20 after CBI on Saturday booked former Chairman and Managing Director (CMD) of UCO bank Arun Kaul and others for an alleged fraud to the tune of Rs621 crore.
- 9.27 am IST Rupee weakens against US dollar over Syria tensionThe Indian rupee and Asian currencies on Monday wakened against US dollar amid geopolitical tensions over Syria and trade war concerns. The home currency was trading at 65.38 against US dollar, down 0.26% from its Friday’s close of 65.22. The rupee opened at 65.34 a dollar. Yields on the 10-year government bond stood at 7.413% from its previous close of 7.425%. Bond yields and prices move in opposite directions.