Sensex closes 48 points up in choppy trade, Nifty settles above 8,600; Dr Reddy’s Lab plunges 10%, Jindal Steel surges 10%

By: | Updated: July 27, 2016 3:53 PM

Sensex closed 47.81 points up at 28,024.33, while Nifty 50 index settled 17.95 points up at 8,608.60.

BSE Sensex, NSE Nifty, stock markets todaySensex closed 47.81 points up at 28,024.33, while Nifty 50 index settled 17.95 points up at 8,608.60. (Reuters)

CLOSING BELL

The BSE Sensex and NSE Nifty ended higher on Wednesday on account of firm Asian cues. Sensex closed 47.81 points up at 28,024.33, while Nifty 50 index settled 17.95 points up at 8,608.60.

In the 50-share index, Bharti Infratel, ICICI Bank, ZEEL, Maruti Suzuki and Adani Ports gained between 1.71 per cent and 4.94 per cent. On the other hand, Dr Reddy’s Lab, Idea Cellular, ITC, Tata Steel and Reliance Industries slid between 1.24 per cent and 10.72 per cent.

Jindal Steel and Power shares extended their gains closed 9.71 per cent up at Rs 88.15.

Barring the BSE FMCG, Realty and Healthcare index, rest all other sectoral indices ended the day in green.

Asian peers also ended mostly higher on Wednesday. Hang Seng and Nikkei settled 0.40 per cent and 1.72 per cent up at 22,218.99 and 16,664.82, respectively.

3.11 pm: Sensex was up 64.52 points at 28041. Nifty was trading 28.75 points up at 8,619. JSW Steel shares jumped over 5 per cent post Q1 results.

3.03 pm: Shares of Bharti Infratel were trading 3.67 per cent up after the company posted a 71 per cent rise in consolidated net profit for the quarter ended June 2016.

2.10 pm: Dabur reported 11.82 per cent rise in net profit at Rs 292.80 crore for the quarter ended June 30, 2016 against Rs 261.84 crore in the corresponding quarter a year ago. Shares of the FMCG major were trading 1.20 per cent up at Rs 307.

1.32 pm: Uttam Galva Steels shares jumped over 8 per cent after CNBC TV18 report that the Uttam Galva Group is hoping to raise up to Rs 7,000 crore vis sale of three plants and subsidiaries. Read more

1.03 pm: Manali Petrochemical shares advanced over 8 per cent intraday after it informed bourses that consent of TNPCB for operating the plant at higher capacity has been received and hence the utilisation of the plant is being restored to the earlier levels.

12.57 pm: Benchmark equity indices again turned green. Sensex was trading 26 points up at 28,002, while Nifty was up 13.20 points at 8,603.

12.23 pm: Bajaj Auto reported 2.19 per cent rise in net profit at Rs 978.37 crore for the quarter ended June 30, 2016 against Rs 957.36 crore in the corresponding quarter a year ago. Shares of Bajaj Auto were trading 1 per cent down at Rs 2,644. Sensex was down 48 points at 27,928. Read more

11.57 am: YES Bank shares were trading 0.31 per cent down despite the bank reported 33 per cent rise in net profit at Rs 731.80 crore for the quarter ended June 30, 2016 against Rs 551.20 crore in the corresponding quarter a year ago.

11.32 am: Sensex was trading 22.43 points down at 27954.09. Nifty was down 0.50 points at 8,590.

11.28 am: Educomp Solutions shares were trading over 4 per cent up after it said it will divest its entire shareholding in its subsidiary Vidya Mandir Classes following invocation of corporate guarantee by ICICI Bank. Sensex was trading 36.18 points up at 28,012. Nifty was up 12.25 points at 8,602.

11.20 am: YES Bank shares were trading over 1 per cent down ahead of its quarterly results to be announced later in the day. Read more

11.02 am: Sensex was trading 165 points up at 28,142. Meanwhile, Union minister Venkaiah Naidu requested all parties especially Congress to support GST Bill.

10.33 am: Meanwhile, Zee Entertainment shares hit their new all-time of Rs 493.65. Read More: Zee Entertainment, Maruti Suzuki among 5 companies to bet after their results

10.06 am: Sensex extended its gains and was trading 213 points up at 28,190. Nifty was trading 63.35 points up at 8,654. The 50-share index was trading at its 15-month high level in the morning trade. All the components of the Nifty 50 index were trading in green. Nifty Bank was less than 100 points away from fresh 52-week high.

10.05 am: Indian rupee fell by 7 paise to 67.34 against the US dollar in early trade on Wednesday on account of increased demand for the American currency from importers

9.40 am: Zee Entertainment shares were trading 3.40 per cent up at Rs 490.70 post Q1 results.

9.26 am: The 30-share index was trading 110 points up at 28087. In the Sensex pack, Tata Motors, ICICI Bank, Maruti Suzuki and Power Grid were up by 1.53 per cent, 1.53 per cent, 1.48 per cent and 1.28 per cent.

9.19 am: Nifty was up 34 points at 8,624. Sensex was trading nearly 100 points up at 28,076.

9.16 am: Sensex was trading 28.17 points up at 28,004. Nifty was up 8.75 points at 8,599.40. Dr Reddy’s Labs were trading 9 per cent down at Rs 3,022.

9.15 am: Benchmark indices opened on a flat note on Wednesday.

PRE-MARKETS

Domestic equity markets are likely to open higher on Wednesday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues.

At 8.04 am (IST), SGX Nifty was up 10.50 points, or 0.12 per cent, at 8,601.50.

Asian peers, Hang Seng and Nikkei were trading higher by 0.46 per cent and 1.32 per cent, respectively, in the morning trade. Shanghai was slightly up by 0.02 per cent at the same time.

Japan’s Nikkei 225 index was trading higher on expectation that the prime minister may announce stimulus package worth 27 trillion yen today.

Shares of Zee Entertainment (ZEEL) and Bharti Airtel will remain in focus on Wednesday. ZEEL on Tuesday post market hours posted a 21.76 per cent jump in consolidated net profit at Rs 216.96 crore for the quarter ended June 30, 2016 against Rs 178.18 crore in the same quarter last year.

Bharti Airtel will announce its financial results for the quarter ended June 30, 2016 on Wednesday.

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