Sensex, Nifty end at 11-month closing high; Quess Corp surges 58% on debut

By: | Updated: July 12, 2016 3:49 PM

Sensex opened 41.12 points, or 0.15 per cent, up at 27667. NSE Nifty index opened 34.70 points up at 8502.60

BSE Sensex brexit losses gainQuess Corp shares listed at Rs 500 on NSE and at Rs 499 on BSE against the issue price of Rs 317. (Reuters)


The BSE Sensex and NSE Nifty ended on fresh 11-month closing high on Tuesday on account of firm global cues ahead of CPI and factory output data. Sensex closed 181.45 points up at 27,808.14, while Nifty50 index settled 47.60 points up at 8,515.50. The 50 share index closed above 8,500 level for the first time since August 14, 2015.

In the 50-share index, Tata Steel, ICICI Bank, Hindalco, Axis Bank and Maruti Suzuki gained between 2.10 per cent and 5.04 per cent. On the other hand, Tata Power, BPCL, Cipla, Coal India and Bank of Baroda dipped between 1.10 per cent and 1.84 per cent.

Quess Corp which debut on bourses on Tuesday closed 58.68 per cent up at Rs 503 against the issue price of Rs 317.

IDFC Bank shares gained over 8 per cent after it said that the bank has entered into an agreement with Grama Vidiyal Micro Finance (GVMFL) for acquisition of 100 per cent equity share capital of GVMFL.

Among the sectoral indices on BSE, Metal index gained the most — 2.87 per cent, followed by Realty index (up 2.02 per cent), Bankex (up 1.62 per cent), Consumer Durables (up 0.91 per cent) and Telecom (up 0.62 per cent). On the other hand, Healthcare, FMCG and Power index slid 0.49 per cent, 0.48 per cent and 0.07 per cent, respectively.

Asian markets ended higher on Tuesday, as the yen continued to slide against the dollar and oil prices rebounded in Asian trade after steep overnight losses.

3.17 pm: Sensex was up 186.08 points at 27,812.77. Nifty was trading 55.95 points up at 8,523. Shares of Cairn India and Vedanta were trading higher by over 7 per cent.

2.35 pm: Unitech was trading 14.24 per cent up at Rs 7.94. The Nifty Realty index was trading 1.59 per cent up at 210.40.

2.02 pm: Larsen & Toubro Infotech IPO which hit capital markets on Monday subscribed 1.94 times on the second day of offer till 1 PM with investors bidding for 2.38 crore shares compared with 1.22 crore shares on offer. Read more

1.17 pm: Sensex was trading 84 points up at 27711. Nifty was up 24.80 points at 8,492.

12.41 pm: L&T Infotech IPO was subscribed 1.74 times on the day second day of offer till noon. Sensex was up 112 points at 27,738.

12.02 pm: Rico Auto Industries shares jumped over 5 percent after the company said it has laid the foundation stone for a new manufacturing plant at Pathredi, Bhiwadi (Rajasthan) for the manufacturing of auto components on July 7, 2016. Read more

11.48 am: Sensex was trading 89.49 points up at 27716. Read more: Quess Corp shares make stellar debut, but analysts want you to ‘SELL’, here is why

11.11 am: Sensex was trading 65.46 points up at 27,692. Nifty was up 19.65 points at 8,487. Brokers said widening up of bets by participants ahead of key economic data – May IIP and June CPI inflation – to be released after market hours on Tuesday fuelled the upmove.

10.40 am: In the 50-share index, Hindalco, Grasim, Axis Bank, ICICI Bank and Tata Steel were up between 1.34 per cent and 4.39 per cent. On the other hand, Coal India, Aurobindo Pharma, Tata Power, Dr Reddy’s Labs and Cipla  were down between 0.97 per cent and 1.66 per cent.

10.12 am: Quess Corp shares listed at Rs 500 on NSE and at Rs 499 on BSE against the issue price of Rs 317. At 10.13 am, shares of Quess Corp were trading 55.33 per cent up at Rs 492.60 against the issue price. Sensex was up 64.50 points at 27691.19. Nifty was trading 19.55 points up at 8,487.

9.50 am: Quess Corp shares are set to list on bourses on strong note. It settled at Rs 500 per share in pre-open against issue price of Rs 317 per share.

9.49 am: The rupee edged lower by 3 paise to 67.16 against the dollar in early trade Tuesday on scattered demand for the American currency from importers.

9.23 am: Coal India board on Monday decided to buy back its shares at a cost of Rs 3,650 crore. Shares of Coal India were trading 1.79 per cent down at Rs 314.75 in the early trade on Tuesday. About 10.89 crore shares would be bought back at Rs 335 per share.

9.16 am: The 30-share index was trading 105.62 points up at 27732.31. Shriram EPC was up over 12 per cent in the early trade. Debt-laden Shriram EPC on Monday said it will take shareholders nod for conversion of its debt worth up to Rs 1,280 crore into equity shares.

9.15 am: Sensex opened 41.12 points, or 0.15 per cent, up at 27667. NSE Nifty index opened 34.70 points up at 8502.60


The BSE Sensex and NSE Nifty are likely to open in green on Tuesday tracking SGX Nifty and firm global cues.

At 8.30 am (IST), SGX Nifty was up 29 points, or 0.34 per cent, at 8,517.

Asian peers held firm around a 2-1/2-month peak, a day after US shares hit a record high thanks to a combination of upbeat US data and expectations of more stimulus around the world.

Quess Corp whose IPO was subscribed 144 times will list on BSE and NSE on Tuesday.


The public offer was opened for subscription from June 29 to July 1 for Quess Corp. The company will use the issue proceeds for repayment of debt availed by the company; funding capital expenditure requirements of the company and its subsidiary, MFX US; funding incremental working capital requirement of the company; acquisitions and other strategic initiatives and general corporate purposes.

Quess Corp garners 86 per cent of its revenues from India while the balance comes from its international business.

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