Sensex rallies 127 points, Nifty settles above 8,560; PSU banks surge

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New Delhi | Updated: July 14, 2016 3:49:16 PM

Nifty hits 8,550 for the first time since August 11, 2015.

BSE Sensex, NSE NiftyNifty hits 8,550 for the first time since August 11, 2015. (Photo: Reuters)


Domestic benchmark indices BSE Sensex and NSE Nifty advanced on Thursday ahead of quarterly earnings of IT major Tata Consultancy Services (TCS) amid mixed Asian cues. Sensex closed 126.93 points up at 27,942, while Nifty settled 45.50 points up at 8,564.30.

In the 50-share index, Grasim, ICICI Bank, Maruti Suzuki, ZEEL and Power Grid gained up to 2.98 per cent. On the other hand, ONGC, Infosys, Sun Pharma, M&M and Dr Redd’s slipped between 1.04 per cent and 1.46 per cent.

Asian peers ended mixed on Thursday. Hang Seng and Nikkei closed higher by 1.12 per cent and 0.95 per cent. Shanghai settled lower by 0.22 per cent.

3.17 pm: Sensex was trading 122 points up at 27,938. Nifty was up 43.50 points at 8,563.

2.27 pm: PSU Banks were trading firm in the late afternoon trade. Canara Bank was up 7.66 per cent, followed by PNB (up 6.44 per cent) and Union Bank (up 5.16 per cent). Sensex was up 87 points at 27903. Nifty was up 30.05 points at 8549.55.

Read more: Nifty hits 8,550; Oil India, ONGC among 5 stocks to bet on

2.07 pm: Domestic benchmark indices BSE Sensex and NSE Nifty continued to trade in green in afternoon trade on account of buying in frontline blue chip counters after wholesale inflation data was released which soared to 1.62 per cent in June as against 0.79 per cent in May. Sensex was up 73 points at 27,888.

1.32 pm: Sensex was trading 76 points up at 27891. Nifty was up 25.55 points at 8,545.

12.52 pm: SPML Infra shares surged over 7 per cent after it announced that the company in joint venture with Tata Projects have received three major new orders for design and construction of Sewerage System with provision of treated wastewater reuse from Rajasthan Urban Drinking Water Sewerage & Infrastructure Corporation Limited (RUDSICO) for 11 cities in Rajasthan for a total value of Rs 1,275 crore.

12.39 pm: In the 50-share index, Bank of Baroda, UltraTech Cement, Grasim, Maruti Suzuki and Power Grid were up between 1.61 per cent and 2.51 per cent. On the other hand, ONGC, M&M, Sun Pharma, Tata Power and Dr Reddy’s Labs were down between 0.72 per cent and 1.51 per cent. Meanwhile, Nifty hits 8,550 for the first time since August 11, 2015. Sensex was up 86 points at 27,901.69.

12.09 pm: Meanwhile, wholesale inflation soared to 1.62 per cent in June as against 0.79 per cent in May. Sensex was up 50.82 points at 27866. Nifty was trading 18.30 points up at 8,537.

11.34 am: RIIL was trading 1.5 per cent down after it reported 32 per cent fall in net profit at Rs 3.02 crore for the quarter ended June 30, 2016. The company has reported net profit of Rs 4.45 crore in the corresponding quarter a year ago.

11.10 am: Indiabulls group’s shares were trading in red for the second day after the I-T Department on Wednesday carried out search operations at different offices in New Delhi, Chennai and Mumbai for alleged tax evasion to the tune of about Rs 1,500 crore. Read more

10.30 am: Rupee strengthened by 9 paise to 66.96 against the US dollar at the inter-bank forex market following sustained selling of the American currency by banks and exporters. Sensex was down 35 points at 27,779.95. Nifty was trading 12.80 points down at 8,506.

9.56 am: Meanwhile, shares of Max India listed on BSE and NSE. Read more

9.34 am: Shares of National Aluminium Company (NALCO), the Navratna PSU, gained after the company has been granted Pottangi Bauxite Mines, in Koraput district of Odisha, where the company’s 22,75,000-tonne Alumina Refinery is located. The company has been granted the mining lease of Pottangi with an area covering 1,738 hectares for a period of 50 years. The scrip was trading 4 per cent up at Rs 50.20. Sensex was down 33 points at 27,782.

9.15 am: The BSE Sensex opened 42.62 points up at 27,857.80, while Nifty opened 3.75 points down at 8515.75.


The BSE Sensex and NSE Nifty are likely to open on a flat-to-cautious note on Thursday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.

At 8.03 am (IST), SGX Nifty was down 2 points at 8515.

Asian markets held near eight-month high on Thursday as investors bet the Bank of England will cut rates in a pre-emptive strike to ward off a recession following the country’s decision to leave the European Union.

On Wall Street, Dow Jones Industrial Average index gained 24.45 points to 18,372.12; the S&P 500 inched up 0.29 points to 2,152.43 and the Nasdaq Composite fell by 17.09 points to 5,005.73.

The 30-share Sensex on Wednesday ended almost unchanged as it closed in the green for the third consecutive day amid foreign inflows and rising global indices. The index closed 7.04 points up at 27,815.18.

Stocks in focus

Shares of Tata Consultancy Services (TCS) will remain in focus today as the IT major will announce its earning figures for the first quarter ended June 30, 2016 later in the day.

Reliance Industrial Infrastructure Limited today said its standalone net profit declined by 32 per cent to Rs 3.02 crore in the three-month period ended June 30, 2016.

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