Sensex gains 292 points to close above 28,000; Nifty settles above 8,630; Dr Reddy’s falls over 3%

By: | Updated: July 25, 2016 4:41 PM

Sensex closed 292.10 points up at 28095.34, while Nifty50 index settled 94.45 points up at 8,635.65.

bse sensex nse nifty rupeeSensex closed 292.10 points up at 28095.34, while Nifty50 index settled 94.45 points up at 8,635.65. (Photo: AP)

CLOSING BELL

The BSE Sensex and NSE Nifty advanced nearly a percentage point on Monday on account of buying in frontline blue chip counters amid sustained inflows from foreign funds on optimism over GST bill’s passage. Sensex closed 292.10 points up at 28095.34, while Nifty50 index settled 94.45 points up at 8,635.65.

In the 50-share index, Dr Reddy’s Labs, Grasim, Bajaj Auto, Tata Steel and Hindalco dropped by 3.08 per cent, 0.97 per cent, 0.87 per cent, 0.74 per cent and 0.66 per cent. On the other hand, BHEL, Bank of Baroda, Maruti Suzuki, State Bank of India and Asian Paints gained 4.90 per cent, 3.55 per cent, 3.11 per cent, 2.73 per cent and 2.38 per cent, respectively.

Sectorwise, the BSE Bankex, Oil & Gas, Consumer Durables and Realty index gained 1.65 per cent, 1.52 per cent, 1.38 per cent and 1.15 per cent, respectively. Rest all other sectoral indices on BSE also ended the day in green.

Anand James, chief market strategist, Geojit BNP Paribas Financial Services said, “Putting a tepid week behind, stocks and indices pushed to new peaks supported by consistent inflows, and hopes of GST passage.”

The BSE Midcap and Smallcap index closed 1 per cent and 1.05 per cent up at 12,400.20 and 12,234.49, respectively.

Asian peers also ended mostly higher on Monday. Hang Seng and Shanghai closed higher by 0.13 per cent and 0.10 per cent, respectively.

3.25 pm: Indian Oil Corporation shares were trading 2.90 per cent up at Rs 236.55. According to reports, the oil marketing company is in talks to buy debt-laden Gujarat State Petroleum Corp’s (GPSC) stake in the under-construction Rs 4,500 crore Mundra LNG import terminal in Gujarat. In a clarification to BSE, IOC said, “We would like to clarify that GSPC LNG, a joint of GSPC, is setting up a 5 mmtpa LNG regasification project at Mundra Port in Gujarat. GSPC, which holds 50 per cent equity in the joint venture company had offered to divest its equity holding in the JV company to Indian Oil. At present, only preliminary discussion have been held with GSPC on the same and no tangible development has happened till date.”

2.58 pm: The benchmark BSE Sensex rallied over 300 points in the afternoon trade on account of buying in frontline blue chip counters amid sustained inflows from foreign institutional investors on optimism over GST bill’s passage. Nifty was trading 92.55 points up at 8,633.

2.21 pm: The BSE Sensex and NSE Nifty continued to trade firm in the afternoon trade. Sensex was up 272 points at 28076. Nifty was trading 85.85 points up at 8,627.

1.43 pm: After Advanced Enzyme IPO, another public offer from Dilip Buildcon is going to hit markets on August 1. The issue will close on August 3. Dilip Buildcon is a private sector road-focused EPC contractor in India. Sensex was trading 245 points up at 28048. Nifty was up 76.85 points at 8,618. Read more

1.16 pm: Sensex was trading 215 points up at 28,018. Shares of Indian Oil Corporation and Chennai Petroleum were trading firm.

1.10 pm: Meanwhile, Nifty hit 8600.20-mark in the afternoon trade. The index was trading 56.70 points up at 8,597.90. Sensex was trading 177.96 points up at 27981.20.

12.37 pm: HDFC is planning to raise Rs 2000 crore through issue of non-convertible debentures (NCDs) on a private placement basis. The secured, redeemable NCDs to be issued on July 27, will carry a coupon rate of 8.15 per cent per annum. Shares of HDFC were trading 1.48 per cent up at Rs 1,375.85. Sensex was trading 123 points up at 27,927.

12.24 pm: Equitas Holdings shares were trading over 4 per cent up at Rs 189.15. Read more

12.01 pm: Tata Metaliks shares were trading 3.62 per cent down despite the company reported 25.56 per cent rise in consolidated net profit at Rs 34.44 crore against Rs 27.43 crore in the corresponding quarter a last ago.

11.58 am: Sanofi India shares jumped over 2 per cent after the company reported 32.87 per cent rise in net profit figures for the quarter ended June 30, 2016 against Rs 64.20 crore in the corresponding quarter last year.

11.40 am: Sensex was up 143 points at 27,946.23. Nifty was trading 46.90 points up at 8,585.

10.50 am: The Reserve Bank of India has imposed a penalty of Rs 5 crore on Bank of Baroda. Shares of the bank were trading 1.59 per cent up at Rs 153.30. Read more: Wealth creators: Tata Metaliks made investors rich in 4 months along with 65 others

10.34 am: Mangalore Refinery & Petrochemicals was trading 9.43 per cent up at Rs 88.20.

10.05 am: Indian rupee was trading down by 13 paise in the early trade. In the 50-share index, Tata Motors DVR, Tata Motors, Power Grid, ZEEL and Bharti Infratel were up between 2.34 per cent and 3.68 per cent. On the other hand, ACC, Bajaj Auto, State Bank of India and Wipro were down between 0.89 per cent and 1.94 per cent. Nifty was trading 2.65 points up at 8543. Sensex was down 6 points at 27797.

9.17 am: Sensex was trading 52.01 points down at 27,751.23. The 50-share index Nifty was trading below 8,530 in the early trade. Cairn India was trading 1.30 per cent down at Rs 189.50. Vedanta was quoting 0.56 per cent lower at Rs 168.

9.15 am: The BSE Sensex opened 49.28 points down at 27,753.96, Nifty opened 21.25 points down at 8,519.95.

PRE-MARKETS

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

At 7.55 am (IST), SGX Nifty was up 3.50 points, or 0.04 per cent, at 8,560.

Asian peers, Hang Seng was trading down by 0.28 per cent in the early trade. However, Nikkei and Shanghai were up by 0.23 per cent and 0.20 per cent, respectively.

On Wall Street, the Standard & Poor’s 500 index gained 9.86 points, or 0.5 per cent, to 2,175.03 on Friday. The Dow Jones Industrial Average index advanced 53.62 points, or 0.3 per cent, to 18,570.85.

On the international front, Nintendo shares tanked after it said on Friday that the financial impact from the worldwide hit Pokemon Go will be limited. Shares of the company slid 17 percent as of midday in Tokyo, wiping out about $6.4 billion in market value.

The BSE Sensex on Friday gained 92.72 points on selective buying by retail investors amid sustained foreign inflows. Nifty settled 31.10 points up at 8,541.

Shares of Cairn India and Vedanta will remain in foucs on Monday as they have announced approval of the revised and final terms for the merger. “The Boards of Vedanta Limited and Cairn India have approved revised and final terms for the Transaction, taking into account prevailing market conditions and having regard to underlying commercial factors,” Cairn India said in a BSE filing.

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