1. IT, metal stocks help Sensex end 275 points up, Nifty settles above 7,600; Vedanta rallies over 7%

IT, metal stocks help Sensex end 275 points up, Nifty settles above 7,600; Vedanta rallies over 7%

Widespread buying in the last half an hour of trade in information technology, telecom, auto, metals and banking stocks alongwith firm global cues supported benchmark indices in Friday's Trade.

By: | New Delhi | Updated: March 18, 2016 4:01 PM
Sensex, nifty, bse, nse Widespread buying in the last half an hour of trade in information technology, telecom, auto, metals and banking stocks alongwith firm global cues supported benchmark indices in Friday’s Trade. (Photo: Reuters)

3.30 pm: Widespread buying in the last half an hour of trade in information technology, telecom, auto, metals and banking stocks alongwith firm global cues supported benchmark indices in Friday’s Trade. As a result, the BSE Sensex and NSE Nifty advanced 275.37 points and 91.80 points to 24,952.74 and 7,604.35, respectively.

In the 50-share index, Vedanta surged the most — 7.83 per cent, followed by Hindalco (up 5.49 per cent) and ACC (up 4.97 per cent). On the other hand, Lupin and Sun Pharma skid 6.91 per cent and 1.31 per cent, respectively.

Among the sectoral indices on the BSE, the BSE IT index, BSE TECk, BSE Metal and BSE Realty gained 2.31 per cent, 2.17 per cent, 2.14 per cent and 1.57 per cent. BSE Healthcare index (down 0.82 per cent) remained the only loser in the sectoral indices chart.

In scrip specific development, NHPC closed 3.26 per cent higher after it successfully synchronized Unit-2 of Teesta Low Dam (TLDP) HE Project, Stage-IV (40 MW) with grid on March 16, 2016. On the other hand, Lupin plunged nearly 7 per cent after foreign brokerage firm downgrade the company to underperform. The pharma major’s shares have been reeling under selling pressure following adverse observations about the company’s Goa plant by the US Food and Drug Administration earlier this week.

Asian equity markets ended mostly in green on Friday, after US indices ended higher and oil prices hit their highest levels for this year. Sentiments were also upbeat as investors turned more positive on riskier assets after the Federal Reserve’s cautious stance on further interest rate increases. Hong Kong shares rose, buoyed by gains in China shares which were boosted by easing fears of capital outflows as the dollar weakened. Meanwhile, Japanese shares bucked the regional uptrend to end lower after the dollar plunged to a near 17-month low against the yen overnight, pressuring exporters and dented overall sentiment.

3.01 pm: Sensex surged further and was trading 289 points up at 24966. Nifty was trading 90.60 points up at 7,603. Tyre stocks were trading firm in the afternoon trade. MRF was trading 2.74 per cent up at Rs 34,767.

2.43 pm: Tata Motors was trading 1.22 per cent up at Rs 365.45. Tata Motors has commenced bookings for its much-awaited stylish compact hatchback, Tata TIAGO from March 10, 2016, onwards.

2.40 pm: Sensex was up 151 points at 24824. Nifty was trading 57.80 points up at 7,570.35.

2.08 pm: Sensex was up 90 points at 24,767. State Bank of India (SBI) has unveiled ‘SBI Global Ed-Vantage’ — an overseas education loan for students who wish to pursue higher education abroad. The SBI Global Ed-Vantage aims to help those who are pursuing full time regular courses in foreign
colleges/ universities. Shares of SBI were trading 1.45 per cent up at Rs 188.85.

1.55 pm: European shares opened slightly lower on Friday with banking stocks leading the decline and Italian insurer Generali down after net profit fell short of expectations. The pan-European FTSEurofirst 300 index was down 0.2 per cent at 1,336.86 points by 0811 GMT, and was on course for its first negative week in five. While Germany’s DAX  fell 0.6 per cent. Sensex was trading 84.28 points up at 24,761.65, while NSE Nifty was trading 35.40 points up at 7,547.95.

1.36 pm: NHPC shares were trading 0.93 per cent up at Rs 21.70 after it successfully synchronized Unit-2 of Teesta Low Dam (TLDP) HE Project, Stage-IV (40 MW) with grid on March 16, 2016. Sensex was trading 52.70 points up at 24,730.07, while NSE Nifty was trading 25.95 points up at 7,538.50.

1.20 pm: Voltas is aiming double digit growth in the air-conditioners segment on the back of launch of its new products as well expectations of a longer and normal summer season. Recently, the company introduced its Voltas All Star ACs range and All Weather Smart ACs range. It has now expanded its product portfolio to offer 150 variants of split ACs. Stocks of the company were trading 2.86 per cent up at Rs 258.70. Sensex was trading 100.09 points up at 24,777.46, while NSE Nifty was trading 39.80 points up at 7,552.35.

12.51 pm: Torrent Pharma share price was trading 4.02 per cent up at Rs 1307.00 as its third manufacturing plant in Gujarat has obtained the Establishment Inspection Report ( EIR) from the US health regulator USFDA. Sensex was trading 121.27 points up at 24,798.64, while NSE Nifty was trading 46.60 points up at 7,559.15.

12.20 pm: Credit rating agency ICRA has downgraded the rating of Maharashtra Seamless’ long term bank facilities worth Rs 718.5 crore to ‘AA-’ from ‘AA’. Shares of Maharashtra Seamless were trading 0.72 per cent down at Rs 138. Sensex was up 90.23 points at 24,767.

12.06 pm: LT Foods share price was trading 7.92 per cent up at Rs 241.10 after Hindustan Unilever (HUL) signed an agreement with the company for sale of its rice exports business for a consideration of Rs 25 crore as it looks to exit non-core businesses. Sensex was trading 46.96 points up at 24,724.33, while NSE Nifty was trading 22.95 points up at 7,535.50. Read More

11.50 am: Crompton Greaves share price was trading 1.28 per cent up at Rs 47.40 as it has won $35 million order from Indonesian state electricity company PT PLN (Persero). Sensex was trading 65.61 points up at 24,742.98, while NSE Nifty was trading 26.60 points up at 7,539.15.

11.28 am: NMDC was trading 2.03 per cent up at Rs 97.90 as the company has announced a surprise board meeting on March 19 to consider a second interim dividend. Brokerage House said NMDC could afford a Rs 9.5 per share dividend. Sensex was trading 95.08 points up at 24,772.45, while NSE Nifty was trading 35.85 points up at 7,548.40.

11.07 am: Tata Consultancy Services stocks were trading 2.30 per cent up at Rs 2405.75 after the company held its analyst meeting on Thursday to demonstrate its digital services business. Macquarie touted its capabilities and its investments in the digital base and reiterated ‘Outperform’ rating. Sensex was trading 144.40 points up at 24,821.77, while NSE Nifty was trading 43.45 points up at 7,556.00.

10.54 am: Dhanuka Agritech shares were trading over 3 per cent up after it informed bourses that the company has received a Licence to manufacture Insecticides from Joint Director of Agriculture (Plant & Protection), Rajasthan for the manufacturing unit of the company situated at Keshwana, Kotputli (Jaipur), Rajasthan. Dhanuka Agritech is engaged in manufacturing wide range of agro-chemicals like herbicides, insecticides, fungicides, miticides, plant growth regulators in various forms – liquid, dust, powder and granules.

10.40 am: The IPO of cancer-care network operator HealthCare Global Enterprises (HCG) was subscribed 54 per cent on the second day of the offer on Thurday. The public offer will close on March 18. Sensex was trading 125 points up at 24,803.

10.38 am: V-Mart Retail has informed that the Board of Directors of the Company at its meeting held on March 17, 2016, has considered, approved and declared the payment of interim dividend of 11.50% i.e. Rs 1.15 per equity share of the face value of Rs 10 each for the financial year 2015-16.

10.08 am: Sensex was trading 123 points up at 24,800.71. Nifty was up 41.70 points at 7554.25. MOIL was trading nearly 5 per cent up at Rs 217. Read more

10.01 am: Mphasis shares which gained over 5 per cent on Thursday amid reports that Blackstone Group is close to acquiring the IT firm. The scrip extended its gains further and was trading 1.74 per cent up at Rs 497.55 in the morning trade.

9.53 am: The rupee strengthened by 20 paise to 66.55 against the dollar in early trade on Thursday on increased selling of the US currency by exporters and banks amidst sustained foreign fund inflows. Sensex was trading 44 points up at 24,721.

9.46 am: Sensex was trading 33.95 points up at 24,711. Nifty was up 10.35 points at 7,522.

9.40 am: Valuation of Infibeam has come under focus ahead of the company’s initial share sale, as media reports suggested that investment banks Kotak Mahindra Capital and ICICI Securities dropped out of the issue due to disagreement over the same.  Infibeam IPO will open on March 21. Read More

infibeam ipo

9.38 am: Realty major DLF on Thursday sold its shopping mall at Saket in the national capital to its wholly-owned subsidiary for Rs 904.5 crore as part of its strategy to consolidate and monetise the rental assets. Shares of DLF were trading 1.76 per cent up at Rs 106.90. Sensex was trading 42.45 points up at 24,719. Read more

9.32 am: Lupin shares were trading 3.55 per cent down at Rs 1615. Meanwhile, Kotak Securities down graded Lupin to ‘Reduce’. Read More

9.23 am: Eros International shares were 13.66 per cent up at Rs 179.75. Sensex was trading 74.34 points up at 24,751.

9.16 am: Sensex was up 93.95 points at 24,771. Nifty was trading 20.45 points up at 7,533. Idea Cellular and Bharti Airtel shares were trading 2.49 per cent and 2.05 per cent up at Rs 103 and Rs 347.75, respectively. Read More

9.15 am: Buoyed by firm global cues, the BSE Sensex opened 52.04 points up at 24,729.41, while NSE Nifty 50 index opened 22.10 points up at 7,534.65.

8.41 am: The BSE Sensex and NSE Nifty are set to open higher on Friday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global markets.

At 8.27 am (IST), SGX Nifty was trading 62 points, or 0.82 per cent, up at 7,551.

Asian shares edged higher on Friday, turning positive for the year, while the US dollar weakened broadly after the Federal Reserve’s cautious stance on further rate increases prompted investors to rebuild their bets on riskier assets.

Wall Street edged up on Thursday as FedEx and GE shares lifted the industrials sector, a day after the Federal Reserve’s lowered projection of two interest rate hikes in 2016 pushed the S&P 500 to its highest close this year.
Market benchmark Sensex ended lower on Thursday after giving up its early gain of over 265 points on fag-end selling in healthcare and realty stocks. The 30-share index closed 5.11 points or 0.02 per cent lower at 24,677.37.

The NSE Nifty continued its upward journey and gained 13.80 points or 0.18 per cent to end at 7,512.55.

Shares of Reliance Communications (RCom) and HUL will remain in focus on Friday. Swedish telecom firm Ericsson on Thursday said it will supply and manage the wi-fi network of RCom along with Ozone Networks.

FMCG Hindustan Unilever (HUL) said it has signed an agreement with LT Foods for sale of its rice exports business for a consideration of Rs 25 crore as it looks to exit non-core businesses.

(With inputs from agencies)

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