Domestic equity markets snapped three day losing streak on Thursday as investors bought beaten down stocks while upbeat US markets overnight also improved market sentiments. The BSE Sensex closed 311.22 points higher at 25,764.78. Nifty jumped 106 points at 7,823.
All the sectoral indices on the Bombay Stock Exchange (BSE) ended in green. The BSE Realty index surged the most — 4.55 per cent at 1285.04, it was followed by BSE Metal index (up 2.43 per cent), BSE Capital Goods index (up 1.98 per cent) and BSE Bankex (up 1.93 per cent at 18,940.16).
In the 50-share Nifty index, Cairn India, Tata Steel, HDFC, Axis Bank and UltraTech Cements gained in between 4 per cent and 6 per cent. On the other hand, Idea Cellular, BPCL, Bosch, Lupin and Hero MotoCorp fell in between 0.50 per cent and 3.10 per cent.
Vinod Nair, head, fundamental research, Geojit BNP Paribas Financial Services, said, “Broad-based value buying was seen after the European markets found some stability on Thursday.”
Gaurav Jain, director, Hem Securities, said, “Markets shut the day on a firm note on the back of positive global cues. Encouraging data from the US lifted the sentiments across the globe. Low level buying and stable rupee also supported the indices.”
Among day’s major market moving events, shares of Ambuja Cements were seen in action on Thursday and was up by more than 5 per cent intraday after ratings upgrade by brokerages. Stocks of VA Tech Wabag were too in limelight as the stock rose more than 7 per cent intraday after market reports that it has bagged a contract worth Rs 1,500 crore from Malaysia’s PETRONAS.
Shares of Steel Authority of India (SAIL) gained more than 6.5 per cent intraday after the company informed the markets about its plan to spend Rs 7,500 crore on modernisation and expansion. The company also informed the markets that it would seek shareholder’s nod to raise Rs 5,000 crore through issuing securities. The move improved investor sentiments towards the stocks and helped the share bounce back from 52 week lows.
Advances to declines ratio for Nifty stood at 44:6 for the day. Volumes for Nifty stocks stood at 1,605 lakh against volumes of 2,218 lakh logged in Wednesday’s trading session.
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Markets through the day
2.59 pm: In the BSE 100 index, Divis Lab, Lupin and JSW Steel surged the most over 10 per cent in the past one month.
2.50 pm: Avanti Feeds jumped over 7 per cent to Rs 2,679.50 on BSE after the company said that a meeting of the board of directors of the company will be held on September 12, to consider stock split. Nifty was up 1.45 per cent at 7,829.
2.40 pm: Blue Dart Express was trading 0.78 per cent lower at Rs 7,131. Blue Dart Express has submitted a Clear copy of Financial Results for the period ended June 30, 2015.
Sensex was up 327 points at 25,780.83.
1.21 pm: Sensex up 352 points at 25,805. HDFC, Tata Steel and Vedanta were up over 3.5 per cent.
1.05 pm: Share price of Caplin Point Laboratories surged over 10 per cent to Rs 1,554 after the company informed BSE that it has received approval from Brazil’s National Health Surveillance Agency ANVISA (Agencia Nacional de Vigilancia Sanitaria) for its sterile injectable manufacturing site at Chennai. The facility is capable of manufacturing Liquid Injectables in Vials, Ampoules, Lyophilized Vials and Ophthalmic dosages. Sensex was up 0.89 per cent at 25,681.
12.52 pm: Shares of IRB Infrastructure Developers was trading 0.83 per cent higher at Rs 223.30 apiece on BSE after its wholly-owned subsidiary executed concession agreement with NHAI for the project of six laning of Agra-Etawah bypass section in Uttar Pradesh. Sensex was up 231 points at 25,685.
12.19 pm: There are more than two gainers against every loser on BSE. The BSE Smallcap index was up 1.10 per cent, outperforming the Sensex. The BSE Midcap index was up 0.96 per cent.
12.11 pm: Bank stocks edged higher on renewed buying. Telecom stocks also gained. Overseas cues were positive. Asian stocks were in green after a rally in US stocks overnight. Sensex was up 217 points at 25,670.
11.39 am: Sensex up 257.72 points at 25,711.28. Nifty was up 86.05 points at 7,803.05 during the same time.
11.34 am: HCL Technologies shares were trading up 0.74 per cent at Rs 956.45 on BSE. The shares were up 0.68 per cent at Rs 955.35 on NSE. Sensex was up 238.73 points at 25,692.29. Nifty was up 81.25 points at 7,798.25.
10:51: Jet Airways shares gained 1.53 per cent on BSE, while on NSE shares were up 2.39 per cent after the Naresh Goyal-promoted airlines on Wednesday said its board has approved merger of the low-cost subsidiary JetLite with the parent airline. Sensex was up 228.69 points at 25,682.25. NSE Nifty was up 70.05 points at 7,787.05.
10.15 am: Sensex up 272.04 points at 25,725.60, while Nifty was up 86.75 points at 7,803.75. BSE realty up 5.20 per cent.
10.08 am: China and Hong Kong are closed today for a public holiday.
10.06 am: Share price of Va Tech Wabag jumped around 5 per cent in the early trade on Thursday after the company informed stock exchanges on Wednesday (post market hours) that Malaysia’s national oil and gas company, Petroliam Nasional Berhad (PETRONAS) awarded Rs 1,500 crore effluent treatment plant order to the consortium of VA Tech Wabag and Muhibbah Engineering. Sensex was up 235 points at 25,689. Nifty was up 76 points at 7,793.
9.49 am: Foreign Portfolio Investors (FPIs) sold shares worth a net Rs 1,573.42 crore on Wednesday, as per provisional data released by the stock exchanges. Domestic Institutional Investors (DIIs) bought shares worth a net Rs 880.27 crore, as per provisional data. Nifty was up 56.65 points at 7,773.65.
9.29 am: Sensex was up 118 points at 25,571. HCL Technologies rose over 1 per cent on BSE after the company announced that it has entered into a global partnership with Manchester United.
The BSE Sensex and NSE Nifty opened higher on global cues. The 30-share Sensex opened 161.13 points higher at 25,614.69. Nifty opened 57.45 points higher at 7,774.45.
All the sectoral indices on the Bombay Stock Exchange opened in green.
In the 50-share Nifty index, Ambuja Cement, Bank of Baroda, Punjab National Bank, Cipla and HCL Technologies were up between 1.50 per cent and 2.50 per cent.
NTPC turned ex-dividend on Thursday, for final dividend of Rs 1.75 per share for the financial year ended March 2015. Grasim Industries also turned ex-dividend, for dividend of Rs 18 per share for the year ended March 2015.
Markets extended their southward journey on September 2 for the third straight session, benchmarks indices ended the Wednesday’s session with a cut of around a per cent, breaching their crucial 25,500 (Sensex) and 7,750 (Nifty) levels.
Sentiments remained dampened on account of weak GDP data coupled with worries on China’s economic slowdown amid fears of an interest rate hike by the US fed has triggered a fresh round of selling across the global markets.
Global Markets
New York: Wall Street stocks jumped almost 2 per cent on Wednesday in the latest volatile session as investors weighed the impact of a stumbling Chinese economy and global market turmoil on the Federal Reserve’s impending decision about when to raise interest rates.
London: London-focused housebuilder Berkeley Group has replaced valve and pump maker Weir Group in Britain’s FTSE 100 index following a quarterly reshuffle, FTSE Group announced on Wednesday.
Tokyo: Japan’s Nikkei share average rose for the first time in four days on Thursday as gains on Wall Street boosted sentiment and bargain hunters flocked to recently battered stocks.
(With inputs from Reuters)