Benchmark indices snapped two-day losing streak on Wednesday as the BSE Sensex and NSE Nifty closed 100.10 points and 28.60 points higher at 27,931.64 and 8,495.15, respectively.

Among the sectoral indices on the Bombay Stock Exchange (BSE), the BSE Healthcare index and BSE Consumer Durables index gained 2.63 per cent and 1.39 per cent. The BSE Metal and BSE Realty index declined 1.33 per cent and 1.01 per cent, respectively.

In the 30-share Sensex pack, share price of Sun Pharma surged the most — 4.32 per cent at Rs 927.25, it was followed by Lupin (up 2.28 per cent), Wipro (up 2.15 per cent) and Hero MotoCorp (up 1.82 per cent). On the other hand, Hindalco and State Bank of India plunged 3.14 per cent and 2.08 per cent at Rs 86.30 and 278.05 stood among the bottom of the performance chart of the benchmark index.

Gaurav Jain, director, Hem Securities, said, “Indices consolidated and traded in a narrow range throughout the day. Investors stay cautious ahead of the FOMC minutes which will be released later tonight. However, appreciation in rupee, buying in information technology and pharma stocks helped the indices to recover and shut the lower positive.”

Vinod Nair, head, fundamental research, Geojit BNP Paribas Financial Services, said, “As anticipated India is continuing to outperform emerging markets which are impacted by the slowdown in China’s economy, fall in commodities prices and increase in currency volatility.”

Broader markets too ended in green with smallcap and midcap indices rising by up to 0.24 per cent.
Shares of Jaypee Infotech remained in action on Wednesday after the government cleared the reduction in Eco-Sensitive Zone (ESZ) around Okhla Bird Sanctuary which could possibly benefit more than 50,000 home buyers. Share price of Jaypee Infratech gained 5.30 per cent at Rs 15.49.

Asian peers, Hang Seng and Nikkei closed 1.31 per cent and 1.61 per cent lower at 23,167.85 and 20,222.63, respectively. Shanghai gained 1.23 per cent at 3,794.11.

 

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Markets through the day

3.10 pm: Metal and mining stocks edged lower on weakness in industrial metal prices in the global commodities markets. Hindustan Zinc and Hindalco were trading 4.58 per cent and 3.14 per cent lower at Rs 140.55 and Rs 86.30, respectively. The BSE Metal index was down 1.35 per cent at 7,651. Sensex was up 96.62 points at 27,928.

2.27 pm: Amtek Auto fell over 6 per cent on the National Stock Exchange after the exchange on August 18 announced that the bourse has decided to exclude the stock from its equity derivatives segment. The share price of the company was trading 6.58 per cent lower at Rs 120 on NSE and 7.04 per cent lower at Rs 119.50 on BSE. Sensex was up 119 points at 27,951.

2.23 pm: Gujarat Pipavav Port clocked volume of 13.04 lakh shares on BSE, a 10.95 times surge over two-week average daily volume of 1.19 lakh shares. The stock fell 3.88 per cent at Rs 200.80.

Mastek notched up volume of 5.60 lakh shares, a 7.27-fold surge over two-week average daily volume of 77,000 shares. The stock was down 4.35 per cent at Rs 204.40.

1.50 pm: The 30-share Sensex was up 164 points to 27,7996.

01:20 pm: Sensex was trading 135.62 points up at 27,967.16. Nifty was up 38.30 points at 8,504.85. Healthcare stocks up 2.61 per cent.

12.49 pm: Shares of Glenmark Pharmaceuticals was trading 3 per cent higher as the company received final approval from the the United States Food & Drug Administration (USFDA) to sell oral contraceptive – drospirenone and ethinyl estradiol tablets – in the US market. BSE Sensex was up 107 points at 27,939.

12:30 pm: The Sensex and NSE Nifty shrugged off its early losses and was trading over 170 points up in noon on Wednesday following fresh buying in blue chips such as Sun Pharmaceutical, Reliance and ICICI Bank.

Buying was mainly seen in healthcare, consumer durables, realty, oil and gas and power segment which lifted the market.

The 30-share Sensex had lost 110.29 points to 27,721.25 points in early trade.

12.16 pm: Sensex was trading 170.83 points up at 28,002.37. Nifty was up 45.05 points at 8,511.60. Healthcare stocks up over 2 per cent.

11.52 am: Sensex was up 126.33 points at 27,957.87. Nifty was up 32.90 points at 8,499.45

11.26 am: The BSE Sensex was trading 153 points higher at 27,985. NSE Nifty was up 42 points at 8,508.

10.32 am: Share price of Rajesh Exports jumped over 1.5 per cent to Rs 615.30 in the morning trade as the company said on Tuesday that it has bagged an export order worth Rs 1,170 crore from an UAE-based company for gold and diamond-studded jewellery and medallions. The Bangalore-based firm said that the order is to be completed by October, which will significantly add to its bottomline. NSE Nifty was down 4 points at 8,461.

9.58 am: Sun Pharmaceuticals shares gained in the early trade on Wednesday after Bank of America Merrill Lynch (BoA-ML) upgraded the stocks of pharma major to “buy” from “neutral”. Sun Pharma was trading 2.32 per cent higher at Rs 909.45 on the BSE.

9.34 am: Infosys edged higher after Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys said that Fidelity Bank Plc., Nigeria, one of the fastest growing Commercial Banks in Africa, will migrate its core banking platform from Finacle version 7 to Finacle version 10. Infosys made announcement after market hours on August 18. The share price of the company was up 0.40 per cent at 1,168.50.

The BSE Sensex was down 24 points at 27,807.

9.20 am: The BSE Sensex and NSE Nifty were down 73.74 points and 34.15 points at 27,757 and 8,432.

The BSE Sensex and NSE Nifty opened on a flat note on Wednesday.

Shares of healthcare, information technology and realty were trading in positive zone in the early trade.

Sensex opened 20.27 points higher at 27,851.81 while Nifty opened up 1.55 points at 8,468.05.

(With inputs from Reuters)