Sensex ends 37 points up in a volatile trade, Nifty at 8,356; banking stocks up

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Updated: August 13, 2015 4:47 PM

All sectoral indices on the Bombay Stock Exchange opened in green. The BSE Realty and BSE Bankex were up over 1.5 per cent.

bse sensexThe BSE Sensex and NSE Nifty opened higher on Thursday tracking strong global cues.
( Express photo)

The BSE Sensex and NSE Nifty ended the day on a flat note on Thursday amid volatile trading session. The BSE Sensex and NSE Nifty gained 37.27 points and 6.40 points at 27,549.53 and 8,355.85, respectively.

Shares of healthcare, banking and auto ended the day in positive zone.

Mahindra and Mahindra (up 3.59 per cent), Cipla (up 3.10 per cent), Tata Power (up 2.74 per cent), Sun Pharma (up 2.52 per cent), Lupin (up 2.49 per cent) remained top gainers in the Nifty pack.

On the other hand, share price of Vedanta, Tata Steel and Hindalco declined 8.26 per cent, 6.04 per cent and 5.11 per cent, respectively, and remained at the bottom of 50-share Nifty pack.

Among the sectoral indices on the Bombay Stock Exchange (BSE), the BSE Healthcare index, BSE Auto index and BSE Bankex gained 0.79 per cent, 0.43 per cent and 0.68 per cent at 17,715.22, 19,005.80 and 20,852.31, respectively.

The barometer index, the BSE Sensex opened at 27,635.25 and touched a high and low of 27,791.10 and 27,496.29, respectively, on Thursday. The NSE Nifty opened at 8384.45 and touched a high and low of 8429.50 and 8339.75, respectively.

Achin Goel, head, wealth management and financial planning, Bonanza Portfolio, said, “Positive cues from the domestic economy kept market sentiments upbeat inspite consecutive devaluation of currency by Chinese authorities.”

Sentiment remained upbeat on hopes that the Reserve Bank of India (RBI) may cut rates to strengthen economic growth following macro economic data announced after market hours on August 12, which showed industrial production registered year-on-year growth of 3.8 per cent in June 2015 and inflation based on the consumer price index (CPI) eased sharply last month to 3.78 per cent from 5.4 per cent in June 2015. Firmness in European and Asian stocks also supported gains on the domestic bourses.

However, gains were curtailed when the Parliament ended the monsoon session without approving the GST Bill.

The market breadth indicating the overall health of the market was weak. On BSE, 1,837 shares declined and 1,011 shares rose. A total of 97 shares were remained unchanged.

Weak rupee supported pharma stocks on Thursday as the currency corrected by more than 1.6 per cent in the previous six sessions. Dr. Reddy’s Laboratories shares gained after the company announced that it has launched PRAMIPEXOLE dihydrochloride extended-release tablets 0.375 mg, 0.75 mg, 1.5 mg, 3 mg and 4.5 mg, a therapeutic equivalent generic version of MIRAPEX ER (pramipexole dihydrochloride) Extended-Release Tablets in the US market on 11 August 2015, following the approval by the United States Food & Drug Administration (USFDA). The share price of Dr Reddy’s Laboratories closed 0.32 per cent higher at Rs 4,290. Aurobindo Pharma rose on decent Q1 result.

Shares of Nestle India rallied more nearly 6 per cent intraday after Bombay High Court quashed FSSAI order that had banned Maggi noodles. The scrip closed 2.78 per cent higher at Rs 6,356.70.

Asian peers, Nikkei 225, Shanghai and Hang Seng gained 0.99 per cent, 1.76 per cent and 0.43 per cent, respectively.

Market performance through the day

3.30 pm: Stock markets ends flat. Sensex closed 37.27 points higher at 27,549.53. Nifty closed 6.40 points higher at 8,355.85.

3.17 pm: Benchmark indices choppy, Sensex up 28 points at 27,541. Nifty was trading 2.15 points down at 8,347.

2.27 pm: Symphony announced that it has signed an equity transfer agreement with shareholders of Munters Keruilai Air Treatment Equipment (Guangdong) Co. (MKE), China, to 100 per cent of the equity share capital of MKE. MKE is market leading brand in China, producing energy saving and environment friendly evapourative air coolers under brand Keruilai. The share price of Symphony was trading 1.07 per cent higher at Rs 1,870.

The consideration for the proposed acquisition will be RMB 1.5 M (equivalent to about Rs 1.55 crore). 

Sensex and Nifty was up around 0.40 per cent and 0.49 per cent at 27,622 and 8,391, respectively.

1.35 pm: Sensex was up 118.27 points at 27,630.53. Nifty 38.80 points up at 8,388.25

1.03 pm: The BSE Sensex was up 172 points at 27,684. Nifty up 51 points at 8,400.

12.56 pm: Rajya Sabha ended monsoon session of Parliament early today, 13 August 2015, without passing Goods and Services Tax (GST) bill after opposition protests that prevented the house from functioning every day of the three-week sitting.

12.26 pm: Shares of steel makers fell for the third straight day after Chinese central bank’s decision to devalue its tightly controlled currency. Tata Steel, Vedanta, Hindalco Industries, Hindustan Zinc and NMDC hit 52-week low. National Aluminium Company tumbled after announcing weak Q1 results. The BSE Metal index was down 1.34 per cent at 7,813.

The BSE Sensex was trading 51 points up at 27,563 at the same time.

11.23 am: Share price of telecom companies like Bharti Airtel and Idea Cellular were up 2.70 per cent and 1.02 per cent at Rs 408.45 and Rs 163.30, respectively. The government on Wednesday allowed telecom operators to share airwaves in the same band to reduce call drops

11.21 am: The BSE Midcap and BSE Smallcap indices were up over 0.5 per cent.

10.43 am: Brokers said buying activity picked up on positive economic data as retail inflation fell to 3.78 per cent in July.

10.33 am: The BSE Sensex and NSE Nifty were trading 139 points and 31 points up at 27,651 and 8,380, respectively.

9.48 am: Banking stocks gain as record low CPI stokes rate cut hopes. Share price of State Bank of India, Bank of Baroda and Punjab National Bank were up over 2 per cent in the early trade.

9.25 am: The BSE Sensex and NSE Nifty were up around 250 points and 71 points at 27,760 and 8,420, respectively.

All sectoral indices on the Bombay Stock Exchange opened in green. The BSE Realty and BSE Bankex were up over 1.5 per cent.

On Wednesday, the benchmark BSE Sensex and NSE Nifty declined 1.27 per cent and 1.33 per cent to 27,512.25 and 8,349.45, respectively.

Global Markets

New York: US stocks rebounded in afternoon trading on Wednesday to end little changed as energy shares and Apple bounced back, offseting continued concerns about a slowdown in China. The Dow moved nearly 300 points from its low of the day to its high before closing flat.

London: Britain’s top share index was dragged lower on Wednesday by Unilever and mining companies after the fall in the value of China’s currency pulled down metals prices.

Tokyo: Japan’s Nikkei share average rose but the broader Topix index fell on Thursday as confused investors shed risk assets while trying to gauge how much the yuan will fall and how that would affect Japanese companies’ bottom lines.

The Nikkei rose 0.4 per cent to 20,478 thanks to gains in some of its heavyweights but the Topix fell 0.4 per cent to 1,659.53 as investors booked profits in large cap shares, such as banks and telecom companies

Hong Kong: The Hang Seng index was down 0.03 per cent.

(With inputs from agencies)

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