3.30 pm: The BSE Sensex and NSE Nifty surged for the fourth consecutive trading session on Friday on account of firm global markets. Sensex closed 39.49 points up at 24646.48, while Nifty 50 index settled 9.75 points up at 7,485.35.
In the 50-share index, Punjab National Bank, BHEL, Vedanta, State Bank of India and Coal India gained between 3.45 per cent and 5.52 per cent. On the other hand, HCL Technologies, Tech Mahindra, Idea Cellular, Asian Paints and Sun Pharma skid between 1.48 per cent and 2.83 per cent.
Sectorwise, the BSE Metal index surged 2.15 per cent, followed by BSE Bankex (1.28 per cent), BSE Power index (1.19 per cent) ande BSE Realty index (1 per cent). On the other hand, BSE Telecom index and BSE IT index fell 0.70 per cent and 0.46 per cent, respectively.
In a scrip specific development, HMT surged nearly 20 per cent intraday on reports that the government is eyeing revival of the company’s wholly owned subsidiary – HMT Machine Tools.
Asian markets ended mostly higher on Friday as global investors returned to riskier assets after a string of positive US economic data and a bounce in oil and commodity prices.
2.54 pm: Sensex was trading 47.35 points down at 24,559. Oil prices are likely to recover after 11-year low to $55 per barrel from the current $34 in 12 months, following gains in the latter half of 2016, according to a report. However, weakness in the price of crude oil is likely to continue in the short-term, with the market yet to see the end of the downside momentum, according to a research report by UBS Wealth Management’s chief investment office.
2.50 pm: Meanwhile, Mahindra & Mahindra hiked vehicles prices by Rs 5,500- 47,000 with effect from April 1. Shares were trading 0.11 per cent down at Rs 1,214.05.
2.42 pm: Sectorwise, the BSE Telecom index was trading 0.94 per cent down, followed by BSE IT index (down 0.64 per cent) and BSE TECk index (down 0.61 per cent).
2.07 pm: Sensex was down 37 points at 24,569. Bouts of profit-booking at higher levels in banks and
financials weighed, cutting down the early gains. Nifty was trading 13.50 points down at 7,462.
1.28 pm: Shares of HMT rose sharply by 20 per cent on Friday as the government is eyeing revival of HMT Machine Tools. Sensex was down 17 points at 24,589.
1.01 pm: Sensex was up 24 points at 24,631. Nifty was trading 5.85 points up at 7,480. Market participants remained on sidelines ahead of the second edition of Gyan Sangam, a retreat of heads of public sector financial institutions, in the background of the government’s strategy to consolidate public sector (PSU) banks.
12.30 pm: BHEL shares surged over 4 per cent after the company informed stock exchanges that it has achieved a significant milestone by successfully commissioning its first 700 MW supercritical thermal unit at Bellary Thermal Project in Karnataka. Sensex was up 3.90 points at 24,610. Nifty was trading 6.50 points down at 7,469.
12.13 pm: Sensex was up 23 points at 24,630. Goa Carbon has reported production of 15,330.700 MT (million tonnes) of Calcined Petroleum Coke for the month of January 2016. Of the total production achieved for the month, Bilaspur plant produced 1,746.800 MT of Calcined Petroleum Coke, Goa plant produced 3,736.900 MT of Calcined Petroleum Coke while Pradeep plant has produced 9,847.000 MT of Calcined Petroleum Coke. Shares of Goa Carbon were trading 0.85 per cent up at Rs 70.80.
11.30 am: Sugar stocks were trading higher in the late morning trade. Balrampur Chini Mills and Shree Renuka Sugars were up by 6.13 per cent and 13.91 per cent, respectively. Sensex was trading 32.94 points up at 24,639. Nifty was up 2.70 points at 7,478.
11.03 am: AGC Network shares were trading 17.90 per cent up at Rs 78.05. AGC Networks’ cyber security division – CYBER-i, has entered into a strategic Managed Services Provider (MSP) partnership with Intel Security to offer outcome based managed security services across the globe. This will give the customers a credible solution designed to effectively and proactively prevent/monitor and respond to security incidents in their organisations. Sensex was trading 6.34 points up at 24,613. Nifty was down 4.15 points at 7,471.
10.36 am: Minda Industries shares were trading nearly 15 per cent up at Rs 967. The automobile components manufacturer, has acquired the global lighting business of Spain based Rinder Group that manufactures automotive lamps- head lamp, tail lamps and small lamps. The enterprise value for the total deal is 20 million euro. The acquisition includes 100 per cent equity holding in Rinder India and Light Systems and Technical Center, Spain along with 50 per cent equity holding in Rinder Riducu, Colombia. The deal will be financed through internal accruals and the debts.
10.30 am: Tata Steel, one of the world’s biggest steel companies, has received clearance from Environment Ministry for its Rs 1,877 crore expansion project to be carried out at Jamshedpur Steel Works in Jharkhand. The ministry has considered the application based on the recommendations of the Expert Appraisal Committee (Industry-I) and decided to grant environment clearance (EC) to the proposal for expansion of crude steel production at Tata Steel Works. Shares of Tata Steel were trading 0.44 per cent up at Rs 287.55.
10.21 am: The BSE Bankex was down 0.33 per cent at 17,207.58 on profit booking. HDFC Bank, Kotak Mahindra Bank and YES Bank were down 1.46 per cent, 0.85 per cent and 0.95 per cent, respectively.
10.12 am: Sensex was down 23.98 points at 24,583. Asian Paints on Thursday informed BSE that it has restarted operations at the company’s paint Plant situated at Rohtak in the state of Haryana. The company had shut down operations at the said plant in Rohtak due to agitation at lMT, Rohtak effective from February 19, 2016. Shares of Asian Paints gained as much as 1.12 per cent in the early trade on Friday.
10.00 am: Staying on the upward trajectory for the sixth straight day, the rupee gained another 12 paise to trade at 67.22 against the US dollar in early trade at the Interbank Foreign Exchange on persistent selling of the greenback in view of increased foreign fund inflows.
9.50 am: Sensex was down 45 points at 24561. Nifty was trading 22.40 points at 7453.20. In the 50-share index, ICICI Bank, ONGC, Dr Reddy’s Labs, ITC and Tata Motors were up between 0.90 per cent and 1.68 per cent. On the other hand, State Bank of India, GAIL, Hindalco, HDFC Bank and Punjab National Bank were down between 1.26 per cent and 1.82 per cent.
9.26 am: Vijaya Bank shares were trading in green after it received an approval for preferential issue of equity shares to Life Insurance Corporation of India (LIC) aggregating up to Rs 226 crore (inclusive of premium amount). The board of directors at its meeting held on March 3, 2016 has approved for the same. Shares of Vijaya Bank were trading 1.06 per cent up at Rs 33.35. Sensex was up 8 points at 24,615. Nifty was down 12 points at 7,463.
9.24 am: Japanese financial services giant Nippon Life has got markets regulator Sebi’s nod for raising
its stake in Reliance Mutual Fund to 49 per cent, completing the regulatory approval process for the deal. Reliance Capital was trading 1.65 per cent down at Rs 361.15.
9.21 am: Benchmark indices pared their initial gains. Sensex was trading 11.77 points down at 24,595. Nifty was down 4.25 points at 7,471.35.
9.19 am: Jindal Steel and Power shares were trading over 1 per cent up on reports that the company is in advanced talks with Adani Group to sell power unit.
9.15 am: Benchmark indices BSE Sensex and NSE Nifty opened in green on Friday on the back of firm global cues. The BSE Sensex opened 97.60 points up at 24704.59, while Nifty 50 index opened 29.80 points up at 7505.40.
8.47 am: Domestic equity indices are likely to open in green on Friday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global markets.
At 8.32 am (IST), SGX Nifty was trading 37 points, or 0.49 per cent, up at 7,477.50.
Asian shares look set to post a third straight weeks of gains on Friday as investors scaled back cautious bets on the global economy after a string of positive US economic data and a recovery in oil and commodity prices.
On Wall Street, S&P 500 Index rose 0.35 per cent to a two-month high of 1,993.4. The US data published on Thursday was positive on the whole, with factory orders rising and the service sector index showing a continued expansion.
Back home, the post-Budget market rally continued for the third day in a row, adding over Rs 5.32 lakh crore to investor wealth. The benchmark BSE Sensex on Thursday surged by 364 points or 1.50 per cent to end at 24,606.99. In the past three sessions, the index has risen 1,605 points.
Shares of Coal India will remain in focus on Friday. State-owned Coal India has offered 14 million tonnes of fossil fuel under special e-auction to both power and non-power sectors in order to facilitate liquidation of pit-head stock, Parliament was informed on Thursday.
(With agency inputs)