Dilution in letter or spirit of RBI rule endangers credit culturehttps://t.co/IoBLG9DOgX— Livemint (@livemint) April 17, 2018
Closing bell: Sensex rises 90 points, Nifty at 10,548 as investors focus on earnings
BSE Sensex closed higher by 89.63 points at 34,395.06, while the Nifty 50 ended 20.35 points up at 10,548.70. Here are the highlights from the markets
Last Modified: Tue, Apr 17 2018. 03 52 PM IST
- 3.33 pm ISTClosing bell
- 3.10 pm ISTMarket update
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- 2.07 pm ISTMuthoot Capital Services shares fall after Q3 results
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- 12.45 pm ISTONGC Videsh files arbitration claim against Sudan over unpaid oil dues
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- 10.40 am ISTMarket update
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- Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 closed higher for the ninth straight session on Tuesday as investor turned their focus to corporate earnings from geopolitical tension. BSE Sensex closed higher by 90 points at 34,395.06, while the Nifty 50 ended 20.35 points up at 10,548.70 led by power and financial stocks offsetting losses in IT stocks. Moreover, India Meteorological Department forecast that India will have a normal monsoon also boosted sentiment. The weather office ruled out the probability of a deficit monsoon. Here are the highlights from the markets:
- 3.33 pm IST Closing bellBSE Sensex closed higher by 89.63 points, or 0.26%, to 34,395.06, while the Nifty 50 gained 20.35 points, or 0.19%, to close at 10,548.70. Among the sectoral indices on BSE, power, realty, consumer durables, FMCG and utilities gained over 1%, while IT, teck and healthcare declined. BSE MidCap and SmallCap rose 0.28%. Power Grid, NTPC, Hindustan Unilever and ICICI Bank were top gainers, whereas Axis Bank, Sun Pharma, Adani Ports and Wipro were among the major losers.
- 3.05 pm IST Morgan Stanley says doubt about election results to hurt India stocksWhat sort of government will India have after the next general election? There’s no clear answer to that this far out and the greater the uncertainty, the more difficult it will be for the nation’s equities to make headway in the run up to the vote, according to Morgan Stanley. Read More
- 3.03 pm IST Bharat-22 ETF follow-on offer could be worth Rs10,000 croreThe finance ministry may come out with a Rs10,000-crore follow-on fund offer of the Bharat-22 exchange traded fund (ETF) as it looks to dilute stake in Coal India to meet the minimum public holding norm. Besides, the ministry is keen to take the ETF route to sell off government shares held through the Specified Undertaking of the Unit Trust of India in private companies (SUUTI)—ITC, Axis Bank and L&T, an official told PTI.
- 2.43 pm IST Schaeffler India shares rise after March quarter resultSchaeffler India Ltd said its March-quarter profit rose Rs66 crore from Rs57.48 crore a year ago. The company’s quarterly revenue from operations stood at Rs521 crore, compared to Rs497 crore last year. Schaeffler India shares gained 0.41% to Rs5318.15.
- 2.13 pm IST Capricorn Food gets Sebi approval to launch IPOCapricorn Food Products India Ltd, an integrated food processing company, has received approval from the Securities and Exchange Board of India (Sebi) to float an initial public offering (IPO). Going by the draft papers, Capricorn Food’s IPO comprises a fresh issue of equity shares worth Rs171 crore and an offer for sale of up to 76.43 lakh scrips by the existing shareholders.
- 2.07 pm IST Muthoot Capital Services shares fall after Q3 resultsMuthoot Capital Services Ltd reported a net profit of Rs21.52 crore in the quarter ended 31 March, compared to Rs11.12 crore a year ago. Revenue from operations rose to Rs119 crore versus Rs79.86 crore in the same period last year. The company’s shares fell 3.73% to Rs961.25.
- 2.05 pm IST European shares rise in early tradesEuropean stock markets mainly rose in early deals, as Frankfurt and Paris climbed but London flatlined. The British capital’s benchmark FTSE 100 index of major blue-chip companies was flat at 7,196.22 points. In the eurozone, Frankfurt’s DAX 30 rose 0.6% to 12,461.71 points and the Paris CAC 40 won 0.3% to 5,327.38. (AFP)
- 12.57 pm IST Market updateBSE Sensex traded lower by 60.73 points, or 0.18%, to 34,34.244.70, while the Nifty 50 slipped 26.35 points, or 0.25%, to 10,502. Among the sectoral indices on BSE, power, utilities and consumer durables were leading the gains, while IT, teck and telecom declined. BSE MidCap edged down 0.07%, while SmallCap gained 0.04%. Power Grid, NTPC, Hindustan Unilever and M&M were top gainers, whereas Wipro, Sun Pharma, Axis Bank and Infosys were among the major losers.
- 12.45 pm IST ONGC Videsh files arbitration claim against Sudan over unpaid oil duesThe foreign acquisition unit of Oil and Natural Gas Corp. Ltd’s (ONGC) has filed an arbitration claim against the government of Sudan in a London court, a company official said, seeking to recover dues pending for years from a project hit by the breakaway of South Sudan in 2011.People familiar with the matter in India and Sudan said ONGC had filed a claim for $98.94 million, in what they said was a first for the South Asian nation’s top oil and gas explorer against any government. They declined to be identified because they weren’t authorised to discuss the matter with media.
- 12.43 pm IST Lloyds Metals shares rise over 2%Lloyds Metals and Energy Ltd said it has received permission from from Director of Mines Safety to extract ore at Surjagarh iron ore mine at Gadchiroli district, Maharashtra. The company also disclosed that it has received acknowledgement of proposed 15MW electric power generation in respect of the proposed mineral-based steels plant at Gadchiroli. Shares gained 2.54% to Rs18.20.
- 11.50 am IST Rupee hits over six-month low against US dollarThe Indian rupee on Tuesday erased all the morning gains and weakened to an over six-month low against US dollar as India’s trade deficit widened. Also the US Treasury department said that it would be adding India to the list of countries that it considers as potential currency manipulators dampened the sentiment.The rupee was trading at 65.64 against US dollar, down 0.22% from its Monday’s close of 65.49. The rupee opened at 65.46 a dollar and touched a low of 65.65—a level last seen on 3 October 2017.
- 11.17 am IST Global gold prices steady on weaker US dollar, trade tension supportGold prices were steady on Tuesday as the US dollar remained on the back foot, with the metal supported by festering worries over US-China trade tensions. Spot gold was unchanged at $1,345.62 an ounce as of 8.52am. US gold futures eased 0.2% to $1,348.4 an ounce.
- 10.40 am IST Market updateBSE Sensex traded higher by 101.17 points, or 0.29%, to 34,406.60, while the Nifty 50 gained 19.50 points, or 0.19%, to 10,547.85. All the sectoral indices on BSE, except IT and teck, traded higher led by power, which gained 1.29% followed by utilities 1.12% and metal 1.04%. BSE MidCap and SmallCap rose 0.44% and 0.58%, respectively.
- 10.37 am IST Nestle India shares gain 2%Nestle India Ltd shares climbed as much as 2% to hit an all-time high of Rs8,924.90. The stock is on track to gain for the fourth straight session. Goldman Sachs has raised target price to Rs7,354 from Rs6,786 keeps ‘neutral’ rating on stock. CLSA notched up TP to Rs9,750 from Rs8,950 rupees, but downgrades stock to ‘outperform’ from ‘buy’, citing a 13% surge in past one month. Stock has risen over 27% in nearly 10 weeks up to Monday since hitting a multi-month low on 8 February versus a 2% gain in the Nifty FMCG index. (Reuters)
- 10.33 am IST Mahindra & Mahindra joins Rs1 trillion market cap clubMahindra and Mahindra Ltd shares gained as much as 2.23% to hit an intraday high of Rs819.10 a share on BSE. Currently, the market cap stands at Rs1.01 trillion. At 9.35am, the shares were trading at Rs812.85 apiece on the BSE, up 1.5% from its previous close, while India’s benchmark Sensex index rose 0.01% to 34,309.96 points.
- 9.30 am IST Dilution in letter or spirit of RBI rule endangers credit culture The government brought in the Insolvency and Bankruptcy Code and now it should uphold RBI’s efforts in bad loan resolution
- 9.27 am IST Rupee opens higher against US dollarThe Indian rupee on Tuesday strengthened marginally against US dollar after local equity markets gained for eight consecutive sessions. The rupee was trading at 65.43 against US dollar, up 0.10% from its Monday’s close of 65.49. The rupee opened at 65.46 a dollar. Yields on 10-year government bond stood at 7.481% from its previous close of 7.49%. Bond yields and prices move in opposite directions.
First Published: Tue, Apr 17 2018. 09 28 AM IST
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