1. Sensex closes 109 points up, Nifty settles at 8,784; Hero MotoCorp, Tata Motors gain

Sensex closes 109 points up, Nifty settles at 8,784; Hero MotoCorp, Tata Motors gain

Domestic equity markets closed higher on account of buying in frontline blue chip counters on Wednesday ahead of the release of economic growth data later in the day.

By: | New Delhi | Updated: August 31, 2016 3:42 PM
nifty bse nse sensex ntpc, hpcl, oberoi realty Domestic equity markets closed higher on account of buying in frontline blue chip counters on Wednesday ahead of the release of economic growth data later in the day.

Domestic equity markets closed higher on account of buying in frontline blue chip counters on Wednesday ahead of the release of economic growth data later in the day.

3.30 pm: Sensex closed 109.16 points up at 28,452.17, while NSE Nifty ended 40.40 points up at 8,784.75.

3.18 pm: Rajesh Exports has bagged an export order worth Rs 1172 crore of designer range of gold & diamond studded jewellery & medallions from Singapore. The order is to be completed by December 2016. Shares of the company were trading 2.82 per cent down at Rs 440.30. Sensex was trading 73.02 points up at 28,416.03, while NSE Nifty was trading 34.60 points up at 8,778.95.

2.53 pm: GVK Power & Infrastructure shares were trading 7.09 per cent up at Rs 6.65 despite the company  posting a net loss of Rs 51.04 crore for the quarter ended June 30, 2016 as against net loss of Rs 3.09 crore for the same quarter in the previous year. Sensex was trading 161.22 points up at 28,504.23, while NSE Nifty was trading 66.25 points up at 8,810.60.

2.06 pm: European equities steadied in early trading on Wednesday after setting a two-week high in the previous day, with gains in companies such as Commerzbank and Bouygues offsetting weaker miners. The pan-European STOXX 600 index was trading flat in percentage terms by 0726 GMT after climbing to its highest level since the middle of August on Tuesday. The index headed for its second straight month of gains. Sensex was trading 174.91 points up at 28,517.92, while NSE Nifty was trading 73.90 points up at 8,818.25.

1.48 pm: Fiberweb India shares were trading 5.67 per cent up at Rs 94.10 after it bagged export order worth Rs 14.80 crore for the advance products. There is overwhelming response to the advance products developed by the company which has opened door for better margin and great advantage over the competitors. Sensex was trading 153.96 points up at 28,496.97, while NSE Nifty was trading 65.80 points up at 8,810.15.

1.30 pm: Construction and infrastructure companies shares gained after Union Cabinet eased rules for quicker settlement of disputes in the construction sector to pump liquidity and activate some of the stranded real estate and infrastructure projects. Shares of Gammon India, GMR Infra, Srei Infrastruture, GVK Power & Infrastructure and Larsen and Toubro were trading 15.54 per cent, 4.51 per cent, 3.95 per cent, 8.70 per cent and 1.81 per cent, respectively. Sensex was trading 129.19 points up at 28,472.20, while NSE Nifty hit its fresh 52-week high and was trading 57.75 points up at 8,802.10.

1.01 pm: Indian rupee reversed its losses and was trading 4 paise up at 66.99 against the US dollar on strong domestic equity market, but investors remained cautious ahead of the key gross domestic product (GDP) data for the June quarter and fiscal deficit data for July due later in the day.  Sensex was trading 79.23 up at 28,422.24, while NSE Nifty was trading 40.70 points up at 8,785.05.

12.18 pm: Zee Entertainment Enterprises shares were trading 1.46 per cent up at Rs 536.90 after the company informed bourses that ist board of directors have approve selling of its sports business – Ten Sports – to Sony for $385 mn (arround 2,600 cr). Sensex was trading 38.30 points up at 28,381.31, while NSE Nifty was trading 28.55 points up at 8,772.90.

11.44 am: Crompton Greaves shares were trading 3.66 per cent up at Rs 84.90 despite the company  reporting 48.37 per cent fall in its net profit at Rs 38.27 crore for the quarter ended June 30, 2016 as compared to Rs 74.12 crore for the same quarter in the previous year. Sensex was trading 86.39 points up at 28,429.40, while NSE Nifty was trading 37.55 points up at 8,781.90.

10.58 am: Kotak Mahindra Bank shares were trading 2.13 per cent up at Rs 802.25 after Reserve Bank of India granted approval to Canada Pension Plan Investment Board (CPPIB) for acquiring shares in excess of 5 per cent and below 10 per cent of the paid up capital of Kotak Mahindra Bank. Sensex was trading 99.07 points up at 28,442.08, while NSE Nifty was trdaing 38.75 points up at 8,783.10.

10.28 am: Indian Oil Corporation was trading 0.03 per cent up at Rs 573.70 after as it has steadily raised crude oil imports from Iran after US sanctions were lifted in January this year.  Sensex was trading 74.16 points up at 28,417.17, Nifty was trading 32.95 points up at 8,777.30.

10.13 am: RBL Bank made a blockbuster debut on bourses on Wednesday with the stock listing 22 per cent higher at Rs 274.20 against the issue price of Rs 225. At 10.13 am, the stocks was trading 22.7 per cent up at Rs 276.10 on NSE. The stock touched a day’s high of Rs 282.40 and a low of Rs 274.20 during the trade so far.

9.57 am: Cox & Kings stocks were trading 2.10 per cent down at Rs 189.25 after it posted 23.67 per cent dip in consolidated net profit to Rs 108.07 crore for the first quarter ended June 30, 2016-17 as compared to Rs 141.60 crore for the corresponding period of the previous fiscal. Sensex was trading 136.23 points up at 28,479.24, while NSE Nifty was trading 54.20 points up at 8,798.55.

9.30 am: UltraTech Cement shares were trading 2.89 per cent up at Rs 4001.10 after it received an approval from the Reserve Bank of India (RBI), whereby the apex bank has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 30% of the paid up capital of the company under the Portfolio Investment Scheme (PIS). Sensex was trading 115.11 points up at 28,458.12, while NSE Nifty was trading 41.60 points up at 8,785.95.

The BSE Sensex and NSE Nifty opened flat on Wednesday tracking SGX Nifty and Asian markets. Asian shares eased on Wednesday following modest losses on Wall Street, but were still on track for a monthly rise as investors waited to see if upcoming job data could prod the Federal Reserve into raising interest rates as soon as September.

Domestic equity markets ended higher on Tuesday on account of global cues and positive corporate earnings.

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