BSE Sensex settles at 35,689.60 after 300-point rally; Nifty50 ends above 10,800; RITES, Fine Organic IPOs close

By: | Updated:Jun 22, 2018 5:28 pm

Sensex live updates: Last hour buying on the domestic bourses sent the BSE Sensex soaring by over 300 points and NSE Nifty50 rising almost 100 points higher on Friday.

India’s stock markets opened lower on Friday following Asian peers.

Last hour buying on the domestic bourses sent the BSE Sensex soaring by over 300 points and NSE Nifty50 rising almost 100 points higher on Friday. The benchmark BSE Sensex settled at 35,689.60 points, up 257.21 points or 0.73%. The Nifty50 of the National Stock Exchange rose by 80.75 points or 0.75% to close at 10,821.85 points. Strong demand was seen for the initial public offering (IPO) of PSU firm RITES even on the last day.

The IPO saw a subscription of almost 66.74 times, with the non-institutional quota of the RITES IPO subscribed by 194.56 times on Friday. The initial public offering (IPO) of Fine Organic Industries were oversubscribed by 8.76 times of the shares offered, stock exchanges data at 5 p.m. showed.

“Markets opened the session flat, a rally which began at the opening continued to take the indices higher to close the session with gains of close to a percent. FIIs continue to sell whereas DIIs continue to buy. Reliance was the worst performing stock for the session after a considerable rally the stock has witnessed hitherto. Banks fared well in trade today,” said Nikhil Kamath, Co-Founder, Zerodha.

 

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Indian stock market live: Sensex, Nifty updates; check major gainers and losers here

17:22 (IST) 22 Jun 2018
Fine Organic Industries IPO offer closes; oversubscribed 8.76 times

The initial public offering (IPO) of Fine Organic Industries were oversubscribed by 8.76 times of the shares offered, according to stock exchanges data at 5 p.m. Non-institutional investors bid for 21 times the shares allotted for them, while Qualified Buyers bid for 12.85 times more. Retail category got 1.18 times bids.

17:17 (IST) 22 Jun 2018
RITES IPO offer closes! HNI quota oversubscribed 194 times

Strong demand was seen for the initial public offering (IPO) of PSU firm RITES even on the last day. The IPO saw a subscription of almost 66.74 times, with the non-institutional quota of the RITES IPO subscribed by 194.56 times on Friday. Qualified Institutional Buyers bid for 71.71 times the shares offered to them. The issue continued to see high participation in the retail category as well, with the retail portion getting 14.24 times bids.

16:35 (IST) 22 Jun 2018
BSE Sensex, Nifty50 soar on last hour buying; HDFC twins, banking stocks lead gains

BSE Sensex soars 300 pts on last hour buying; Nifty50 above 10,800; HDFC twins, banking stocks lead gains

Last hour buying on the domestic bourses sent the BSE Sensex soaring by over 300 points and NSE Nifty50 almost 100 points higher. According to market experts, good buying in the HDFC twins and most banking stocks added to the upward trajectory of both the key indices. The benchmark BSE Sensex settled at 35,689.60 points, up 257.21 points or 0.73%. The Nifty50 of the National Stock Exchange rose by 80.75 points or 0.75% to close at 10,821.85 points.

16:11 (IST) 22 Jun 2018
Sacchitanand Uttekar, Assistant Vice-President, Research at Tradebulls, says:

"Nifty saw a thrust in the final hour of trade as the HDFC twins added some steam & helped the index end it's day above its previous day's high. Eventually, it has formed a Long Legged Doji on the weekly scale & a sustained move above 10,900 should open the gates towards 11,060 for the coming week else expect the consolidated / constrained move to continue within 10,900-10700."

15:34 (IST) 22 Jun 2018
BSE Sensex closes 257.21 points or 0.73% up; Nifty50 settles at 10,821.85

BSE Sensex closes 257.21 points or 0.73% higher at 35,689.60 points. Nifty50 settles at 10,821.85, higher by 80.75 points or 0.75%.

15:28 (IST) 22 Jun 2018
Banking index gains; Axis Bank shares up over 2%

S&P BSE Banking index shot up 345.50 points or 1.17%, with shares of Axis Bank gaining 2.29%. Shares of ICICI Bank were up 1.68%, SBI up 1.66% and HDFC Bank up 1.27%.

15:15 (IST) 22 Jun 2018
BSE Sensex surges 245 points on last hour buying; Nifty50 up 90 points

BSE Sensex index surged 245.73 points to a high of 35,708.46 points on robust buying in blue chips like Sun Pharma, HDFC, M&M, Axis Bank, ITC, SBI, Bharti Airtel, NTPC, and HDFC Bank. The Nifty50 jumped almost 90 points to a high of 10,830.50 points.

14:37 (IST) 22 Jun 2018
RITES IPO offer: Less than 3 hours to go! Institutional quota oversubscribed 16 times

With only less than three hours left for the offer to close, RITES IPO was subscribed by over 12 times on Friday. Qualified Institutional Buyers bid for 16.53 times the shares offered to them. The issue continues to see high participation in the retail category as well with the retail portion getting 11.32 times bid so far.

14:13 (IST) 22 Jun 2018
Oil prices firm as OPEC meets

At 0800 GMT, benchmark Brent crude was up 75 cents a barrel at $73.80. U.S. light crude was 60 cents higher at $66.14. Oil prices were firm on Friday as OPEC is struggling to agree a deal to increase output to compensate for losses in production at a time of rising global demand.

13:27 (IST) 22 Jun 2018
Fine Organic Industries IPO closes today; oversubscribed 1.03 times

Fine Organic Industries Ltd (FOIL) initial public offering got fully subscribed on the third day of the bidding process on Friday. The IPO was subscribed 1.02 times more than the total issue size.

12:58 (IST) 22 Jun 2018
Private banks stocks mixed; Nifty Pvt Bank index down 0.12%

On the Nifty Private Bank index, shares of Axis Bank (up 0.99%), Federal Bank (up 0.43%), ICICI Bank (up 0.12%), and RBL Bank (up 0.12%) traded with gains. HDFC Bank (down 0.17%), Kotak Bank (down 0.18%), Yes Bank (down 0.23%), South Indian Ban (down 0.43%), IndusInd Bank (down 1.30%) and IDFC Bank (down 2.35%) shares traded lower.

12:44 (IST) 22 Jun 2018
Check out S&P BSE Sensex Heatmap

BSE Sensex heatmap

12:36 (IST) 22 Jun 2018
Sensex, Nifty50 back in green; M&M, ITC up 2%

Sensex trimmed losses and rose almost 40 points to a high of 35,472.34 points in mid-afternoon trade. The Nifty50 edged up 10 points to 10,751.50. Shares of M&M gained 2.08%, ITC rose 1.99%, Sun Pharma was up 1.28% and Axis Bank was up 0.95%. Shares of RIL were down 1.46%.

12:24 (IST) 22 Jun 2018
RITES IPO closes today; oversubscribed 2.64 times on 3rd day

RITES IPO was oversubscribed by 2.64 times on the third day of the offer. The issue will be closed for subscription today. On Thursday, RITES IPO was overscribed by 2.11 times with investors bidding for 5.32 crore shares of the 2.52 crore shares offered to them. Qualified Institutional Buyers bid for 0.32 times the shares offered to them, high net worth individuals bid for 0.48 times their allocation, retail investors 5.59 times and employees bid for 0.56 times of their allocation.

12:01 (IST) 22 Jun 2018
RIL shares plunge 2% after 3-day gain

Shares of Reliance Industries (RIL) fell over 2% to a low of Rs 1,010.45 per share on the BSE after a three-day gaining streak. On Thursday, RIL shares had closed at a fresh intra-day high of Rs 1,030 per scrip.

11:42 (IST) 22 Jun 2018
IDBI Bank shares surge 5.9% on stake-sale report

IDBI Bank's shares soared 5.9% to a high of Rs 61.15 on NSE today amid reports of government considering stake sale in the public lender to Life Insurance Corporation of India (LIC) to raise nearly Rs 10,000 crore. This is the biggest intraday percentage gain since June 7.

11:38 (IST) 22 Jun 2018
Mid-caps, small-caps underperform Sensex

The S&P BSE mid-cap and small-cap indices underperformed the benchmark Sensex. Around 11.30 a.m., the mid-cap index traded lower by 45.73 points or 0.29 %. The small-cap index edged lower by 49.65 points or 0.30%, while the Sensex was down 16.27 points or 0.05%. PNB Housing (down 3.39%) was the worst performer on the S&P BSE mid-cap index, while Ducon Infratechnolgies (down 15.32%) lost the most in the small-cap space.

10:17 (IST) 22 Jun 2018
Former Infosys top boss Vishal Sikka in trouble

Vishal Sikka in middle of row: Former Infosys top boss faces Teradata suit for ‘theft’ of trade secrets

Teradata, a cloud-based data firm, has alleged that key SAP employees, including its then former CTO Vishal Sikka, were involved in misappropriation of Teradata’s trade secrets. Vishal Sikka who was formerly with Infosys is considered to be one of the key people behind the growth of SAP’s analytics platform.

10:03 (IST) 22 Jun 2018
RIL, Coal India shed over 1%

Top five losers on the S&P BSE Sensex: RIL (down 1.47%), Coal India (down 1.21%), Tata Motors DVR (down 1.19%), SBI (down 0.97%), Wipro (down 0.97%)

Top five gainers: M&M (up 1.73%), HDFC (up 0.62%), ITC (up 0.54%), Tata Steel (up 0.42%), LT  (up 0.29%)

09:57 (IST) 22 Jun 2018
SEBI amends IPO norms, simplifies buyback regulations

Big market reforms: Sebi simplifies buyback regulations, changes IPO price band timeline

The Securities and Exchange Board (SEBI) has approved amendments to buyback and takeover regulations and changed the time for announcing the price band of initial public offering (IPO) from 5 to 2 days, Chairman Ajay Tyagi told reporters. SEBI had made a proposal to bring changes based on suggestions made by the regulator’s Primary Market Advisory Committee (PMAC). 

09:44 (IST) 22 Jun 2018
Oil prices rise over 1% on uncertainty ahead of OPEC meeting

Oil prices rise on uncertainty ahead of OPEC meeting

Oil prices rose by more than 1 percent in early Asian trading on Friday, pushed up by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day. Brent crude futures, the international benchmark for oil prices, were at $73.88 per barrel at 0144 GMT, up 83 cents, or 1.1 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $66.30 a barrel, up 76 cents, or 1.2 percent.

09:43 (IST) 22 Jun 2018
Asian shares trade under pressure

Asian shares under pressure, trade at 6-month lows as signs of tariff effects appear

Asian shares were under pressure on Friday on signs US trade battles with China and many other countries are starting to chip away at corporate profits, with oil prices choppy ahead of major producers meeting to discuss raising output. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trade, stuck barely above its six-month low hit on Tuesday. Japan’s Nikkei lost 1.0 percent.

09:40 (IST) 22 Jun 2018
RITES IPO fully subscribed on day 2

Rites IPO fully subscribed on Day 2

RITES IPO was fully subscribed by 2.11 times on the second day of the offer with investors bidding for 5.32 crore shares of the 2.52 crore shares offered to them. Qualified Institutional Buyers bid for 0.32 times the shares offered to them, high net worth individuals bid for 0.48 times their allocation, retail investors 5.59 times and employees bid for 0.56 times of their allocation.

09:39 (IST) 22 Jun 2018
Rupee gains 19 paise aided by global dollar weakness

Rupee gains 19 paise aided by global dollar weakness

The rupee firmed up by 19 paise to 67.79 against the dollar today after increased selling of the US currency by exporters and banks.  On Thursday, the rupee ended 10 paise higher at 67.98 against the greenback on sustained selling of the dollar by exporters and local banks.

09:36 (IST) 22 Jun 2018
Sensex, Nifty50 trade in red; Coal India, RIL down 1%

The domestic equity markets opened on a lower note on Friday following weak Asian peers. The benchmark Sensex index, which opened at 35428.42 points, fell 50 points to a low of 35,381.48 points. The Nifty50 of the National Stock Exchange fell 20 points to a low of 10,720.70 points. Coal India and RIL shares were trading with losses of over 1% in early trade. 

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