Sensex ends 70 points up, Nifty settles at 8,650; Aurobindo Pharma, JK Tyre surge

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New Delhi | Updated: August 24, 2016 3:46:20 PM

Sensex closed 69.73 points up at 28,059.94, while Nifty settled 17.70 points up at 8650.30.

BSE Sensex NSE Nifty Sensex closed 69.73 points up at 28,059.94, while Nifty settled 17.70 points up at 8650.30. (Photo: Reuters)


Sensex closed 69.73 points up at 28,059.94, while Nifty settled 17.70 points up at 8650.30. In the 50-share index, Aurobindo Pharma, Tata Power, Maruti Suzuki, Cipla and ZEEL gained between 1.51 per cent and 6.84 per cent. On the other hand, Idea Cellular, Lupin, Ambuja Cement, Tata Motors DVR and Tata Steel slid between 1.50 per cent and 2.98 per cent. Overall market breadth for the day remained negative and advances to declines ratio for Nifty stood at 24:27 for the day.

3.05 pm: Sensex was trading 79.65 points up at 28072.92, while Nifty was up 26.10 points at 8,658.70. Nava Bharat Ventures shares slipped 8 per cent post Q1 results.

2.18 pm: Tata group stocks were trading higher in the afternoon trade. Tata Sponge was trading higher by 2.24 per cent. Tinplate and Tata Metaliks were up 3.97 per cent and 2.39 per cent. Tata Investment Corporation shares were trading higher by 12.97 per cent.

2.00 pm: State Bank of India (SBI) has decided to garner up to Rs 11,100 crore additional Tier 1 capital, by way of issue of Basel III compliant Perpetual Debt instrument in USD and / or INR, at par, through private placement to overseas and /or Indian investors, in such number of tranche(s), at such time(s) as may be considered appropriate and on such coupon(s) as may be decided at the time of actual issuance. The board at its meeting held on August 24, 2016 has approved for the same. Shares of the bank were trading higher by 0.04 per cent at Rs 254.70.

Read more: Why PSUs like NBCC and BPCL are becoming hot stock market bet

1.42 pm: Manappuram Finance has raised Rs 75 crore through allotment of Secured Redeemable Non-Convertible Debentures (NCDs) by way of private placement. The secured redeemable NCDs having face value of Rs10 lakh with the maturity date of March 22, 2019. The Financial Resources and Management Committee of board of directors at its meeting held on August 23, 2016 have approved for the same. Shares of the company were trading 0.23 per cent up at Rs 86.75. Sensex was trading 11.59 points up at 28,001.

1.08 pm: InterGlobe Aviation shares fell over 3 per cent after media reports that Tigerair will take back 11 jets subleased to the aviation company. Tigerair will grow capacity via the returning aircraft subleased to Indigo. Read more

12.58 pm: JK Tyre was trading 5.91 per cent up at Rs 117.40. The company is planning to set up a new R&D centre of excellence in Mysuru. In this regard, the company will invest Rs 100 crore. It will initially have about 200 engineers and scientists and the number will double during the next one year. Benchmark indices were trading flat. Sensex was up 11.90 points at 27998. Nifty was down 1.35 points at 8,631.

11.21 am: Majesco shares were trading 9.36 per cent higher at Rs 530. The company has entered into strategic partnership with Elafris, Inc., a supplier of an artificial intelligence powered chatbot messaging platform. Elafris has joined the Majesco Partner EcoSystem to enhance insurers’ customer communication and payment experience. Sensex was trading 35.74 points up at 28,025.

10.52 am: The BSE Midcap index and BSE Smallcap index were up by 0.65 per cent and 0.52 per cent at 13030 and 12498.78, respectively. In the BSE Midcap space, Torrent Pharma, Cummins India, Britannia and Tata Global were trading higher by 7.08 per cent, 3.47 per cent, 3.46 per cent and 1.87 per cent, respectively.

10.23 am: Indian rupee fell by 9 paise to 67.15 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange market on account of fresh demand for the American currency. Sensex was trading 32.61 points up at 28022. Nifty was up 9.30 points at 8,641.

9.48 am: Sensex was down 46.69 points at 28,036. Nifty was trading 9.70 points up at 8,642.30. In the 50-share index, Idea Cellular, Lupin, Ambuja Cement, TCS and Bharti Airtel were down between 0.72 per cent and 3.67 per cent.

9.25 am: Aurobindo Pharma shares were trading 3.71 per cent higher at Rs 763.60. Sensex was up 65.98 points at 28056.19. Nifty was trading 12.45 points up at 8645.05.

9.20 am: Idea Cellular shares were down 3.17 per cent at Rs 97.60. Shares of the Company jumped over 7 per cent on Tuesday after media reports that Idea Cellular is exploring options for strategic deal with Vodafone and the telecom major is talks with Vodafone for potential merger. However, Idea Cellular in a reply to BSE said, “We would like to inform that, the news item is absolutely untrue and preposterous.” Read more

9.15 am: Sensex opened 75.04 points up at 28065.25, while Nifty opened 15.90 points up at 8648.50.


The BSE Sensex and NSE Nifty are likely to open lower on Wednesday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues. At 8 am (IST), SGX Nifty was trading 26.50 points down at 8,627.50. Asian peers were trading mixed in the morning trade. Hang Seng was down by 0.52 per cent at 22878, Shanghai and Nikkei were trading higher by 0.49 per cent and 0.01 per cent, respectively.

In a dull trade on Tuesday, the benchmark BSE Sensex closed nearly 5 points up at 27,990.21 with gains in PSU, IT and banking stocks, tracking a higher opening in the European markets.

Castrol Ltd, a unit of oil major BP Plc, is selling an up to $261 million stake in Castrol India Ltd in a block trade on Wednesday, according to a termsheet seen by Reuters. The BP unit is selling shares at between Rs 385 to Rs 415.5 apiece, the termsheet showed. Castrol India shares on Tuesday closed 0.14 per cent down at Rs 417.10.

Aurobindo Pharma on Tuesday registered a 23.81 per cent increase in consolidated net profit at  Rs 584.96 crore for the first quarter ended June 30, 2016 against net profit of Rs 472.45 crore in the corresponding quarter a year ago.

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