The BSE Sensex advanced for the sixth consecutive trading session on Thursday on account of buying in banking stocks. Sensex closed 36.20 points, or 0.14 per cent, up at 25,880.38. Nifty settled 2.70 points, or 0.03 per cent, down at 7,912.05.

In the 50-share index, ICICI Bank, State Bank of India, Coal India, Bank of Baroda and BPCL gained between 1.60 per cent and 5.45 per cent. On the other hand, Wipro, Bharti Infratel, UltraTech Cements, BHEL and ACC slid between 2.57 per cent and 7.32 per cent.

Sectorwise, the BSE Bankex led the rally with gains of 1.95 per cent, followed by BSE Oil & Gas index (up 0.67 per cent) and BSE Metal index (up 0.36 per cent). On the other hand, BSE IT index and BSE Realty index plunged 1.53 per cent and 1.47 per cent, respectively.

Software counter remained under pressure after Wipro reported a sequential 0.2 per cent drop in net profit to $337 million for the three months to March. Infra sector stocks edged lower despite minister for road transport and highways Nitin Gadkari setting a goal of building 15,000 km of highways this fiscal, two and a half times what was achieved last year.

Shares of Stone India too remained in action on Thursday after the stock rallied almost 13 per cent intraday following company announcement that it has secured an order worth Rs 28.7 crore in Chattishgarh for installation of bio-toilets.

However, banking stocks mainly public sector undertakings (PSU) remained on buyers’ radar on the bourses after some report stated that the Reserve Bank of India (RBI) has trimmed the list of debt-laden companies for loan provisioning in the fourth quarter ended March 31, 2016.

Asian equity markets ended mostly higher on Thursday as oil prices rallied and the yen resumed its decline on expectations of further easing from the Bank of Japan next week. Most investors were reminded focused on the European Central Bank meeting due later in the day, although no change in policy is expected after unprecedented monetary stimulus at the March policy meeting. Japanese shares rose for a third day to hit a 2-1/2 month high, as oil prices bounced back and positive US housing data as well as expectations of further policy easing from the Bank of Japan (BoJ) weakened the yen to near the 110 level.

However, China stocks closed lower on Thursday as afternoon profit-taking in finance and manufacturing shares offset early gains by commodity stocks in the morning following oil’s sharp overnight rise.

 

Markets through the day

3.30 pm: Sensex closed 36.20 points, or 0.14 per cent, up at 25,880.38. Nifty settled 2.70 points, or 0.03 per cent, down at 7,912.05.

3.01 pm: Srei Infrastructure share price gained as much as 6 per cent on Thursday after the company announced that the process of stake sale of Viom Networks to American Tower Corporation has been completed. The scrip was trading 3.73 per cent up at Rs 63.95. Sensex was up 23 points at 25867. Nifty was down 5.35 points at 7,909.

2.45 pm: European stocks were little changed on Thursday, as German carmaker Volkswagen  outperformed while Swedish mobile telecom equipment maker Ericsson slumped.

2.30 pm: Shares of Anuh Pharma plunged as much as 9.6 per cent on Thursday after it said the World Health Organisation (WHO) has suspended its products — Pyrazinamide and Sulfadoxine — from prequalified list of active pharmaceutical ingredients (API). The scrip was trading 1.65 per cent down at Rs 173. Sensex was trading 108.40 points up at 25,952.

1.59 pm: The 30-share index was trading 121 points up at 25965. Read More: Equitas Holdings shares surges 30% on debut; What should be your trading strategy?

1.32 pm: Sensex was trading 115 points up at 25,959.

12.50 pm: Shares of Indian Oil Corp were trading 0.73 per cent up at Rs 426.90. The company has signed an agreement with Bangladesh Petroleum Corp (BPC) to set up an LPG import terminal at Chittagong and lay a pipeline from there to Tripura.

12.11 pm: Sensex was up 107 points at 25,952.

11.56 am: Shares of Stone India rallied over 7 per cent after the company bagged an order for supply & installation of 9090 units of Bio-Toilets to Government of Chattisgarh valuing Rs 28.70 crore. Sensex was up 127 points at 25,971. Nifty was up 29.50 points at 7,944.

11.27 am: Sakthi Sugars Ltd stocks were trading 1.04 per cent up at Rs 38.70 as it informed bourses that a Scheme of Demerger of ABT Limited has been approved by the Hon’ble High Court of Judicature at Madras. ABT Limited, is a company belonging to the Promoter Group, holding majority equity shares (i.e. 70.12%) in the company. Sensex was trading 135.33 points up at Rs 25,979.51, while NSE Nifty was trading 32.90 points up at 7,947.65.

10.54 am: S&P BSE Bankex index was trading 2.38 per cent up after Reserve Bank of India trimmed list of companies whose loans need to be provided against the risk of default, according to a business daily report. Sensex was trading 130.28 points up at 25,974.46, while NSE Nifty was trading 29.20 points up at 7,943.95.

10.25 am: Market benchmark BSE Sensex recaptured the crucial 26,000-mark by advancing over 200 points in early trade on Thursday as investors engaged in widening their bets amid firm global cues.

10.12 am: The rupee weakened by 5 paise to 66.27 against the dollar at the Interbank Foreign Exchange (forex) market on fresh demand for the American currency from importers and banks.

10.04 am: Nifty was trading 52.85 points up at 7967. Sensex was up 214 points at 26,058.

10.00 am: Meanwhile Equitas Holdings shares made a robust stock markets debut on Thursday at a list price of Rs 144 on BSE, up 30.91 per cent, against the issue price of Rs 110.

9.48 am: Maruti Suzuki India is planning to add around 323 more dealership outlets including 123 Nexa showrooms, which is catering to premium segment of the passenger car market. The company is expected to continue its low double digit growth during the current financial year. The company has sold around 70,000 cars in the Nexa channel in six months and it has been able to create that delight among the customers. Shares of Maruti were trading 1.04 per cent up at Rs 3707.70.

9.32 am: Bharti Airtel shares were trading 0.59 per cent down at Rs 354.40. Bharti Airtel is reportedly planning to sell more than 5 per cent stake in its tower arm Bharti Infratel through an open market block deal. The company owns a 71.7 per cent stake in Bharti Infratel, and a 5 per cent stake sale in the unit would be worth $566.74 million based on current valuations. Consequently, the company plans to use the sale proceeds to reduce its debt.

9.20 am: Equitas Holdings, which had raised Rs 2,200 crore through its initial public offer (IPO), will make its stock market debut on Thursday (April 21). The IPO, which opened from April 5-7, was subscribed 17.24 times at a price band of Rs 109-110 per share.

9.17 am: Sensex was trading 221 point up at 26,065. Nifty was up 59.60 points at 7,974. Wipro shares were trading 4.96 per cent down at Rs 571.55.

9.15 am: The BSE Sensex opened 135.50 points, or 0.52 per cent, up at 25979.68, while Nifty 50 index opened 38.90 points, or 0.49 per cent, up at 7,953.65. ICICI Bank (up 5.44 per cent), SBIN (up 2.51 per cent), Bank of Baroda (up 1.83 per cent) and Axis Bank (1.48 per cent) were among top gainers in the early trade.

8.41 am: The BSE Sensex and NSE Nifty are likely to open in green on Thursday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and firm global cues.

At 8.28 am (IST), SGX Nifty was up 31 points, or 0.39 per cent, at 7,966.

Asian shares hovered close to 5-1/2-month highs on Thursday as oil prices showed surprising resilience partly on hopes that oil producers may eventually agree on a measure to ease a global glut.

Wall Street shares ended less than 2 per cent short of a record-high close on Wednesday as a rebound in oil prices added to optimism sparked by a raft of earnings reports.

The S&P 500 gained 0.08 per cent to 2,102.4, and up 15 per cent since mid-February.

Back home, the market see-sawed for most part of the day, but ended in the green for the fifth straight session by inching up about 28 points as investors added to their bets amid sustained inflows by foreign funds. But the gains were somewhat offset by concerns about TCS’ weaker-than-expected margins and slide in oil prices due to oversupply issues.

Shares of Wipro and Tata Steel will remain in focus on Thursday. Wipro on Wednesday after market hours reported 1.6 per cent drop in its March quarter net profit to Rs 2,235 crore due to pressure on margins even as it aims to double revenue to $15 billion by 2020, while its board approved a Rs 2,500-crore share buyback plan.

Tata Steel UK’s senior staff are believed to be finalising plans to bid for a management buyout of the Indian group’s troubled Welsh steelworks.

(With agency inputs)