The BSE Sensex ended over 180 points up on Friday tracking global markets that surged after European Central Bank signaled that it’s considering more stimulus to revive Europe’s ailing economy. Sensex ended 183.15 points up at 27,470.81. NSE Nifty closed 43.75 points up at 8,295.45.
Stock markets also got a boost from the Indian rupee that gained against the dollar in early trade.
Among the sectoral indices on the Bombay Stock Exchange, BSE Bankex gained the most (up 1.30 per cent), followed by S&P BSE Fast Moving Consumer Goods index (up 1.08 per cent), S&P BSE Oil and Gas (up 0.81 per cent). S&P BSE Capital Goods (down 1.56 per cent) slid the most followed by BSE Auto (down 0.73 per cent) and BSE Tech (down 0.40 per cent) index.
ITC and Axis Bank emerged as top gainers in the Sensex pack by surging 2.81 per cent each. The rally in the benchmark was also fuelled by gains in GAIL, NTPC, HDFC and ICICI Bank. Of the 30 Sensex constituents, 20 ended with gains while 10, including Bharti Airtel, Vedanta Ltd and L&T, lost.
In the 50-share index, Axis Bank (2.98 per cent), ITC (2.81 per cent), Cairn India (2.43 per cent), HDFC (2.06 per cent) and GAIL (2.05 per cent) gained. On the other hand, Idea Cellular (7.57 per cent), Bharti Airtel (3.81 per cent), Vedanta (2.57 per cent), Larsen and Toubro (2.35 per cent) and Maruti Suzuki (2.05 per cent) were among the losers.
On weekly basis, both Sensex and Nifty climbed 256.21 points (0.94%) and 57.30 points (0.69%), respectively, to log their fourth straight weekly rise.
European shares extended a rally on Friday, led by carmakers as investors speculated there could be more monetary support from the European Central Bank (ECB).
“Markets surge in line with its global partners which shooted up on the back of stimulus measures announced by European central bank yesterday. Strong set of corporate earnings, strengthening of rupee and Moody’s forecast of strong growth in India in FY15-16 bolstered the sentiment,” Gaurav Jain, director, Hem Securities said.
Indian stock markets were closed on Thursday on account of Dussehra.
Markets through the day
3.30: Sensex ends 183.15 points up at 27,470.81. NSE Nifty ends 43.75 points up at 8,295.45. Stocks of Idea Cellular closes 7.35 per cent down at Rs 140.45.
3.19: Sensex was up 186.44 points at 27,474.10. Nifty was up 46.10 points at 8,297.80. BSE Bankex index up 1.34 per cent.
2.38 pm: Cairn India shares were trading 2.50 per cent up at Rs 157.90 even after the private explorer on Wednesday reported 70.45% drop in its net profit during the July-September quarter of FY16 mainly due to decline in crude prices. Sensex was up 155.86 points at 27,443.52. Nifty was up 37.35 points at 8,289.05.
2.09 pm: Sensex was up 226.40 points at 27,514.06. Nifty was up 57.90 points at 8,309.60.
1.48 pm: Idea Cellular stocks were trading 6.66 per cent down at Rs 141.50 after company’s second quarter results failed to cheer the investors. The company said its net profit for the July-September period increased 7 per cent to Rs 809.3 crore from Rs 755.9 crore a year earlier, weighed by lower interconnection charges and pressure on mobile data charges. Sensex was up 236.66 points at 27,524.32. NSE Nifty was up 61.85 points at 8,313.55.
1.13 pm: Aurobindo Pharma shares were trading 1.63 per cent up after the company said that it may launch Tramadol Hydrochloride extended-release tablets, used for treating pain, in the US market from January. BSE Sensex narrowed gains, but was still trading 184.10 points up at 27,471.76. NSE Nifty was up 44.80 points at 8,296.50.
12.58 pm: European shares climbed higher on Friday, extending a rally from the previous session, as investors speculated on further monetary support in future from the European Central Bank (ECB). The pan-European FTSEurofirst 300 index rose 0.7 per cent, building on a 2.1 per cent gain in the previous session, while the euro zone’s blue-chip Euro STOXX 50 index advanced by 0.9 per cent. Sensex was up 210.26 points at 27,497.92. NSE Nifty was up 52.60 points at 8,304.30.
12.14 pm: Reliance Industries share price continued to rally after the company posted better than expected earnings for quarter ending in September. The company’s shares were trading 0.86 per cent up at Rs 963. International financial ratings and services firm Moody’s said in a note to investors that the earnings of the company improved despite a decline in the Singapore benchmark refining margin and decline in the petrochemical product spread. “The ongoing projects in the refining and petrochemical segments, and investments in the telecom sector, has kept debt levels elevated with net debt increasing by 48% y-o-y. However, compared to 1QFY2016, debt has increased only marginally. As a result, RIL’s leverage largely remained flat with net debt/EBITDA increasing to 1.8xduring the twelve months ending 30 September 2015 compared to 1.7x as of FY2015. We expect RIL’s credit metrics to improve over the next 12-18 months once the ongoing projects get completed,” said Sweta Patodia, analyst at Moody’s in the report. Sensex was up 220.62 points at 27,508.28. NSE Nifty was up 56.15 points at 8,307.85.
1149 am: The BSE Sensex and the Nifty both hit their highest levels in more than nine weeks. The 30-share index resumed higher at 27,466.64 and hovered in a range of 27,555.06 and 27,456.23 before quoting at 27,503.97, a gain of 216.31 points, or 0.79 per cent, from its last close. The 50-share Nifty was also trading higher at 53 oints, or 0.64 per cent, to 8,304.70.
11.30 am: Bharti Infratel share price was trading 2.67 per cent down at Rs 398.00 after the telecom tower company reported a 25 per cent jump in net profit at Rs 579 crore for the September quarter as operators quickened 3G and 4G rollouts. Sensex was up 215.38 points at 27,503.04. NSE Nifty was up 54.05 points at 8,305.75 during the same time. Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 48.33 crore on Wednesday, as per provisional data.
10.55 am: KPIT Technologies Limited share price was trading 11.15 per cent up at Rs 137.10 after the company’s second quarter profit rose 69 per cent sequentially to Rs 75.08 crore on strong improvement in operating profit performance. Sensex was up 212.16 points at 27,499.82. Nifty was up 54.95 points at 8,306.65.
10.26 am: Sensex up 227.30 points at 27,514.96. Nifty was up 57.90 points at 8,309.60. S&P BSE Realty index was up 1.35 per cent.
9.59 am: Cadila Healthcare Ltd shares were up 2.63 per cent at Rs 443.00 after the company on Thursday said its net profits for the July-September quarter increased by 41 pe cent from Rs 278 crore to Rs 391 crore, helped by launch of new products in India and Mexico, and growth in sales of high-margin drugs in the US market. Sensex was up 233.32 points at 27,520.98. NSE Nifty was up 61.70 points at 8,313.40 during the same time.
9.41 am: The Indian rupee snapped its two-day falling streak and strengthened by 34 paise to 64.78 against the dollar in early trade on fresh selling of the US currency by exporters and banks amid sustained foreign funds inflows. Sensex was up 212.35 points at 27,500.01. Nifty as up 59.50 points at 8,311.20 during the same time.
9.24 am: Wipro stocks were trading 1.57 per cent down at Rs 568.80 after the company on Wednesday posted 7.2 per cent year-on-year rise in its consolidated net profit at Rs 2235.40 crore for the second quarter ended September 30, 2015.BSE Sensex was up 261.33 points at 27,548.99. NSE Nifty was up 73.30 points at 8,325.00 during the same time.
The BSE Sensex and NSE Nifty opened on a positive note on Friday tracking global markets. At 9.17 am, Sensex was up 212.58 points at 27,500.24. NSE Nifty was trading 64.55 points up at 8,316.25
Asian stocks rocketed higher on Friday after the European Central Bank signaled that it’s considering more stimulus to revive the continent’s ailing economy.
The S&P 500 closed at its highest in two months on Thursday as stronger-than-expected earnings from several top companies, including McDonald’s, relieved investors’ concerns about the profit outlook.
Britain’s top share index edged higher on Thursday, failing to match a sharp rally in euro zone shares after European Central Bank President Mario Draghi stoked prospects of further monetary easing, sending the euro lower.
Japan’s Nikkei share average rose sharply to a near two-month high on Friday after European Central Bank President Mario Draghi signalled that new stimulus measures could come as early as December, boosting riskier assets.