Sensex ends 440 points up on global cues, Nifty settles at 8,744

By: | Updated: August 30, 2016 3:57 PM

Domestic equity markets opened strong on Tuesday following global cues amid Reserve Bank of India's latest report that stated that the near-term growth outlook for India seems brighter than last fiscal and the economy is likely to expand at 7.6 percent in 2016-17.

Sensex, Nifty open strong Domestic equity markets opened strong on Tuesday following global cues amid Reserve Bank of India’s latest report that stated that the near-term growth outlook for India seems brighter than last fiscal and the economy is likely to expand at 7.6 percent in 2016-17.

Domestic equity markets rose for second day in a row on Tuesday on firm global cues amid slew of positive results from companies like DLF.

3.30 pm: Sensex closed 440.35 points up at 28,343.01, while NSE Nifty ended 136.90 points up at 8,744.35. Ambuja Cement, Bosch Ltd and Grasim were among the top gainers on NSE.

3.27 pm: Crompton Greaves shares were trading 1.24 per cent up at Rs 81.40 after it reported 48.37 fall in its net profit at Rs 38.27 crore for the quarter ended June 30, 2016 as compared to Rs 74.12 crore for the same quarter in the previous year. Sensex was trading 445.42 points up at 28,348.08, while NSE Nifty was trading 134.40 points up at 8,741.85.

2.46 pm: Maruti Suzuki shares were trading 2.90 per cent up at Rs 5072.65 after the company launched sporty Swift Deca, a limited edition model of its most popular hatchback. Sensex was trading 406.18 points up at 28,308.84, NSE Nifty was trading 129.20 points up 8,736.65.

1.56 pm: Whirlpool posted a 25.94 per cent increase in its standalone net profit at Rs 121.95 crore for the first quarter ended June 30, 2016-17. Stocks of the company were trading 0.23 per cent up at Rs 956.70. Sensex was trading 314.71 points up at 28,217.37. NSE Nifty was trading 101.55 points up at 8,709.

1.29 pm: DLF was trading 2.43 per cent up at Rs 162.15 after it posted a net profit at Rs 67.46 crore for the quarter ended June 30, 2016 as against a net loss of Rs 42.33 crore for the same quarter in the previous year. Sensex was trading 319.54 points up at 28,222.20, while NSE Nifty was trading 99.10 points up at 8,706.55.

1.06 pm: TD Power Systems shares were trading 8.70 per cent up at Rs 213 as it has received an order for supply of 45 railway application generators from a major multi-national company for installation in North America. Sensex jumped over 300 points and was trading 293.29 points up at 28,195.95, while NSE Nifty was trading 93.70 points up at 8,701.15.

12.22 pm: Sensex was trading 257.28 points up at 28,159.94, while NSE Nifty was trading 80.05 points up at 8,687.50. EClerx Services posted 37.58 per cent rise in its net profit at Rs 91.45 crore for the quarter as compared to Rs 66.47 crore for the same quarter in the previous year. Shares of the comany were trading 0.91 per cent down at Rs 1617.90.

11.15 am: Gujarat Mineral Development Corporation (GMDC) shares were trading 7.28 per cent up at Rs 97.25 after it posted 58.94 per cent increase in its net profit at Rs 114.80 crore for the quarter ended June 30, 2016 as against Rs 72.23 crore for the same quarter in the previous year. Sensex was trading 201.77 points up at 28,104.43, NSE Nifty was trading 63.75 points up at 8,671.20.

10.09 am: Ramky Infrastructure stocks were trading 8.16 per cent up at Rs 80.90 after it along with Ashoka Buildcon won contracts worth Rs 1,646 crore to  build two highway projects in Jharkhand. Sensex was trading 208.01 points up at 28,110.67, while NSE Nifty was trading 62.90 points up at 8,670.35.

10.01 am: Indian rupee recovered 7 paise to 67.11 against the US dollar in early trade due to selling of the American currency by exporters and banks amid a higher opening in the domestic equity market. Sensex was trading 205.78 points up at 28,108.44, while NSE Nifty was trading 60.70 points up at 8,668.15.

9.21 am: MOIL stocks were trading 1.09 per cent up at Rs 157.15 despite posting a 48 per cent fall in standalone net profit at Rs 47.15 crore for the quarter ended June 30 as against net profit of Rs 89.88 crore in the year-ago period. Sensex was trading 163.30 points up at 28,065.96, while NSE Nifty was trading 45.25 points up at 8,652.70.

9.15 am: Sensex rallies over 109.8 points at 28012.46 in opening trade, while NSE Nifty reclaims 8,650.

Domestic equity markets opened strong on Tuesday following global cues amid Reserve Bank of India’s latest report that stated that the near-term growth outlook for India seems brighter than last fiscal and the economy is likely to expand at 7.6 per cent in 2016-17.

Telecom stocks will hog limelight, as heeding to the telecom industry’s demand for starting spectrum auction from an auspicious date; the government has deferred the mega sale of mobile frequencies by two days to October 1 from the earlier scheduled date of 29th September.

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