1. Sensex holds gains, Nifty keeps above 9300, cement stocks lead; gold edges down

Sensex holds gains, Nifty keeps above 9300, cement stocks lead; gold edges down

Sensex, Nifty opened higher today on the back of positive handover from Wall Street on Friday and reports that Emmanuel Macron to be elected as the new French President.

By: | Updated: May 8, 2017 5:03 PM

Indian stock markets opened firm today and continued to trade strong, extending morning gains, tracking firm trading in rest of the Asian markets and on positive handover from Wall Street on Friday, amid reports that Emmanuel Macron is set to be elected as the next President of France. The Investors cheered centrist Emmanuel Macron’s victory over anti-EU Marine Le Pen in France’s presidential election, which influenced sentiment. Elsewhere, Asian stocks climbed outside of China, with Japanese shares rallying after a three-day holiday, amid optimism on improving global growth. Wall Street edged higher on Friday as US job growth rebounded, and rising oil prices led to a bounce back in energy stocks.

Here are the latest updates:

05:00 pm: Gold moved lower for the seventh day today in the national capital — this time by Rs 175 to Rs 28,550 per 10 grams — chiefly because of a drop in local demand even as it saw a slight bounce overseas. Silver, too, declined further by Rs 225 to Rs 38,350 per kg — a sign of softness in orders from industrial units and coin makers. The persistent fall in the yellow metal prices is seen as a direct outcome of fading demand from local jewellers and strength in the rupee that made its imports cheaper. (Read More)

04:45 pm: Market benchmark Sensex gained 67.35 points or 0.23% today to end at 29,926.15 gaining marginally from a positive opening. Sensex had opened 0.25% higher at 29,915.12 tracking a higher positive handover from Wall Street on Friday and reports that Emmanuel Macron is set to be elected as the new French President. The 51-share NSE Nifty gained 28.75 points or 0.31 per cent to close at 9,314.05 points as it pared off early marginal gains, due to positive global cues, later during the day. (Read More)

04:30 pm: Ahluwalia Contracts (India), ACC, Ansal Properties & Infrastructure, Bedmutha Industries, Central Bank of India, Chambal Fertilizers & Chemicals, CEAT, Dilip Buildcon, DLF, Eicher Motors, Essel Propack, Ganesh Housing Corporation, Havells India, Hindustan Unilever, Indiabulls Real Estate, ICICI Bank, Larsen & Toubro Infotech, Larsen & Toubro Infotech, Motherson Sumi Systems, Procter & Gamble Hygiene and Health Care, Rajesh Exports, Supreme Industries and Rashtriya Chemicals and Fertilizers were among 88 stocks that hit their 52-week high on NSE on Monday. Domestic stock markets ended in positive terrain with Sensex closing 67.35 points up at 29,926.15, while Nifty settled the day 28.75 points up at 9,314.05. (Read More)

03:40 pm: Markets close marginally higher, BSE Sensex up 0.23% at 29,926.15 points, NSE Nifty up 0.31% at 9,314.05 points. The shares of Proctor and Gamble Hygiene and Healthcare Ltd rose as much as 5.12% to close at Rs 7782, other gainers were Ambuja Cements up 4.89%, Eicher Motors 3.98%, ACC Ltd up 2.67%, Aurobindo Pharma up 2.58% and Bharti Airtel up 2.19% on NSE. The shares of ICICI Bank and Federal Bank hit new 52-week high of Rs 308.15 and Rs 120 respectively, while the benchmark index of real estate sector, Nifty Realty made a new all-time high at 266.6 points.

03:10 pm: Markets about to close, BSE Sensex up 0.28% at 29,942.57 points, NSE Nifty up 0.37% at 9319.65 points. The top 5 gainers on Sensex are Bharti Airtel up 2.22%; ICICI Bank up 1.71%; Lupin 2.28%; ONGC up 1.69% and Asian Paints up 1.98% while ITC shares are down 1.44%.

02:50 pm: Government-owned Housing and Urban Development Corporation (HUDCO)’s IPO, bidding for which opened on BSE and NSE today at 10:00 am, has been subscribed 29.52 percent as of 1:30 pm today. At that time, of their respective quota of reserved shares, Institutional investors had bid 4.08%; Non-Institutional investors 7.85%; retail investors 78.04%; and employees 0.06%.The total bids for subscription on BSE and NSE were 29.76%. (Read More)

02:30 pm: The benchmark index for the real estate stocks on NSE, Nifty Realty hit a new all-time high at 264.90 points, with the shares of Indiabulls Real Estate Ltd and DLF Ltd hitting fresh 52-week highs at Rs 167.95 and Rs 198.6 respectively.

02:10 pm: Markets sustain gains, BSE Sensex up 0.36% at 29,966.49 points while NSE Nifty up 0.42% at 9324.2 points. Shares of Bharti Airtel lead the gain on Sensex, rose 2.73% to Rs 354.05, the telecom operator is going to announce the Q4 earnings tomorrow.

01:00 pm: Legendary investor Warren Buffett after a session with the shareholders of Berkshire Hathaway during its 53rd annual general meeting on May 6 spoke to ETNow on Indian, world and US economy. During his interview with ET Now he elaborated on how he sees India and what are his plan. He also advocated people to remain invested in strong businesses and said that it was easier to invest in 1950 than today as there was less competition. (Read More)

12:30 pm: Markets continue to trade in green, BSE Sensex up 0.26% at 29,936.16 points while NSE Nifty up 0.35% at 9318.1 points. The Benchmark for banking stocks, Bank Nifty rose 0.74% to 22,772.7 points and the automobile index of NSE gained 0.85% at 10,194.25 points. ICICI Bank Shares hit a fresh 52-week high of Rs 308.15.

12:05 pm: Indian shares rose on Monday led by a rally in Ambuja Cements and ACC Ltd after the companies said they were exploring a merger, while lenders extended gains after the government further empowered the central bank to tackle bad debts in the sector. The sentiment was also boosted by a rise in Asian stocks on investor relief after centrist Emmanuel Macron comfortably won the French presidential election. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3 percent, snapping a three-day losing streak. (Read More)

11:35 am: Stocks of both ACC and Ambuja Cements rallied in early trade on Monday after boards of both the companies initiated a study to explore merger between the two. Both the Cement companies in separate statements to exchanges have said that the board of directors on Friday have agreed to start the evaluation of a potential merger between the two. (Read More)

11.10 am: Government-owned Housing and Urban Development Corporation (HUDCO)’s IPO has opened today with a goal to raise over Rs 1,120 crore. The IPO is a part of government’s efforts to meet its disinvestment target. The price band has been set in the range of Rs 56-60 per share. The issue comprises sale of 20 crore equity shares (10 percent paid-up capital) by the central government through an offer for sale (OFS). The offer will close on May 11. (Read more)

10:55 am: Cement stocks leading the gains on NSE Nifty, Ambuja Cements up 9%, ACC Ltd up 4.6%, UltraTech Cement up 2.5%, trading near  52-week highs.

10:45 am: Markets continue to rise, BSE Sensex up 0.4% at 29,977.67 points; NSE Nifty up 0.43% at 9,325.45 points.

10:15 am: The benchmark Sensex gained over 78 points and the NSE Nifty reclaimed the 9,300-mark in early trade today on widespread gains tracking a firm trend in Asia. The 30-share index was trading higher by 78.22 points, or 0.26 per cent, at 29,937.02 with all the sectoral indices led by consumer durables, auto, capital goods and healthcare, trading in the positive terrain by gaining up to 0.66 per cent. (Read More)

10:10 am: The rupee recovered 13 paise to 64.25 against the US dollar in early trade today at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters and banks. Besides, a higher opening of domestic stocks and fresh bout of foreign fund inflows kept the domestic unit in high spirits, forex dealers said.

10:00 am: BSE Sensex opened on a strong positive note today, on the back of a higher positive handover from Wall Street on Friday and reports that Emmanuel Macron is set to be elected as the new French President. ICICI Bank, Infosys, ONGC shares pulling indices up; HDFC, Adani Ports and ITC drag. (Read more)

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top