Sensex adds 147 points, Nifty ends near 11,600 as blue-chips gain in late trade; Airtel, Hero, Bajaj up 5%

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Updated:Sep 07, 2018 3:56:26 pm

Share Market Today: Indian stock markets (Sensex and Nifty) ended on a positive note on Friday following the rally in heavyweight shares in the late trade with Sensex rising 147 points and Nifty concluding near 11,600 level.

Share Market Today: Indian equity markets fell in negative territory after opening flat on Friday with Sensex diving 175.59 points and Nifty slipping below 11,500. (Image: Wikimedia Commons)

Share Market Today: Indian stock markets (Sensex and Nifty) ended on a positive note on Friday following the rally in heavyweight shares in the late trade with Sensex rising 147 points and Nifty concluding near 11,600 level. Shares of Jubilant Foodworks, Network 18, Motilal Oswal Financial Services, Aurobindo Pharma, Hero MotoCorp, DCM Shriram, Jindal SAW, Bajaj Auto and Himadri Speciality Chemical were the top gainers among the ‘A’ group of BSE surging 5-8%.

Indian equity markets recoiled in the early afternoon deals on Friday with Sensex and Nifty hovering marginally higher in green as shares of Mukesh Ambani’s Reliance Industries Ltd (RIL) jumped 1% while rupee regained 34 paise vs US dollar. Shares of RIL were the biggest positive points contributors to the benchmark indices and outperformed the declines provided by Sun Pharma and Yes Bank shares. The Indian rupee recovered as much as 34 paise against the US dollar from the day’s bottom of 72.0363 to a day’s high of 71.6963, the Bloomberg data showed.

Indian equity markets fell in negative territory after opening flat on Friday with Sensex diving 175.59 points and Nifty slipping below 11,500 as US-China trade tariff worries renewed. Asian shares carved out a 14-month trough on Friday as investors feared a new salvo of Sino-U.S. tariffs could come at any moment, while a slump in US chip stocks rippled through the tech-heavy region, a Reuters report said.

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    15:49 (IST)07 Sep 2018
    Closing bell

    Indian stock markets closed in positive territory on Friday with Sensex rallying 147 points and Nifty finishing near 11,600 as the combined uptick in shares of RIL, Bharti Airtel, M&M, ICICI Bank, Infosys, Hero MotoCorp, Bajaj Auto, HUL, Tata Steel and Tata Motors lifted the headline indices in the late trade. A market-wide value buying was seen on Friday as all the sectoral indices of NSE barring Nifty PSU Bank index closed in green with Nifty Auto (up 2.2%) and Nifty Metal (up 1.86%) leading the charge. BSE Sensex ended at 38,389.82, up 147.01 points or 0.38% while NSE Nifty concluded at 11,589.10, up 52.20 points or 0.45%. 

    13:48 (IST)07 Sep 2018
    NCLAT says Numetal bid for Essar Steel eligible

    The National Company Law Appellate Tribunal (NCLAT) Friday ruled that Russia's VTB Capital-backed NuMetal's second bid for Essar Steel is eligible but the same by ArcelorMittal will qualify only if it clears the Rs 7,000 crore dues of firms it was previously associated within three days, PTI said in a report. The Committee of Creditors (CoC), however, disqualified both bids saying their promoters were tied to companies which were bank loan defaulters and so ineligible under Section 29A of the Insolvency and Bankruptcy Code, the report added. 

    12:10 (IST)07 Sep 2018
    Rupee trades 24 paise higher

    The rupee was trading higher by 24 paise to 71.75 against the US currency in late morning deals on Friday due to sustained bouts of dollar selling from banks and exporters, PTI reported. According to the report, the rupee traded in a wide range as heavy dollar demand pulled down it to 72.04 only to be supported by good supply of dollars from Reserve Bank of India through banks which helped its recovery. 

    10:57 (IST)07 Sep 2018
    Yes Bank falls 4% after bank informs about Rs 30,000 crore fundraising

    Yes Bank shares fell nearly 4% on Friday after India's fifth-largest private sector lender informed about Rs 30,000 crore fundraising programme through debt securities. "The bank has necessary approvals from the board of directors and shareholders to borrow/ raise funds in Indian /foreign currency by issue of debt securities including but not limited to nonconvertible debentures, MTN (Medium Term Notes), bonds (including bonds forming part of Tier 1/ Tier 2 capital in accordance with and subject to the terms and conditions specified in the Basel Ill Capital Regulations prescribed by RBI, long-term infrastructure bonds or such other securities as may be permitted by RBI from time to time) upto Rs 30,000 crore," Yes Bank said in an exchange filing on Thursday night. The stock of Yes Bank slipped 3.94% to a day's bottom of Rs 325.65 from the Thursday's closing of Rs 339 on BSE today. The said fundraising of Rs 30,000 crore will take place in one or more tranches on private placement basis from time to time, Yes Bank said. 

    10:49 (IST)07 Sep 2018
    US dollar eases against Japanese yen

    The US dollar eased against the yen on Friday after a report suggested that Japan would be the next country with which US President Donald Trump will take up trade issues, a Reuters report said. According to CNBC television, President Trump hinted to a Wall Street Journal columnist that he might next take up trade issues with Japan.

    10:46 (IST)07 Sep 2018
    Sun Pharma plunges 5% on report USFDA issues 6 observations

    Shares of the Mumbai-headquartered drugmaker Sun Pharmaceuticals plunged more than 5% on Friday after CNBC TV18 reported that the US FDA has issued six observations to Sun Pharma's Halol facility. Laboratory controls don't include appropriate test procedures and the procedures designed to prevent objectionable microorganisms have not followed, a CNBC TV18 report said. Written stability programme doesn't include sample size based on statistical criteria, the report added. The stock of Sun Pharma shed as much as 5.28% to a day's low of Rs 640.95 on BSE and was the biggest loser among all the constituents of Sensex.

    10:16 (IST)07 Sep 2018
    Chinese markets in red

    Stocks in China reversed early gains to edge lower on Friday, in the last trading session ahead of a deadline for public comment on fresh U.S. trade tariffs on $200 billion worth of Chinese goods, though details on the timing of tariffs remained murky, a Reuters report said. At the midday break, the Shanghai Composite index was down 3.46 points or 0.13 percent at 2,688.13, while the blue-chip CSI300 index slipped 0.14 percent, while its financial sector sub-index climbed 0.16 percent and the real estate index rose 0.29 percent, the report added. 

    09:38 (IST)07 Sep 2018
    Rupee drops 5 paise, hits 72.04

    The Indian rupee remained under pressure on Friday against the US dollar as the domestic currency touched a day's bottom of 72.0363 after opening marginally higher at 71.9200 per unit US dollar, the Bloomberg data showed. Earlier yesterday, the rupee breached the 72/USD mark for the first time in the history just after few days when the domestic currency surpassed 71/$ level. The rupee has been depreciated by more than 13% against US dollar in the current year so far which is the steepest decline among all the Asian currencies vs US dollar. The factors such as costlier crude oil prices, US-China trade spat, Turkish economic crisis and capital outflows on the back of negative regional cues have beaten down rupee value against US dollar. According to some experts, the rupee is still overvalued and is likely to hover above 70/$ level in this year. 

    09:30 (IST)07 Sep 2018
    Sensex trips 175 points, Nifty slips below 11,500

    The headline indices Sensex and Nifty bottomed into negative territory after opening flat on Friday morning as US-China trade tariff tensions renewed. BSE Sensex plunged as much as 175.49 points to a day's low of 38,067.32 whereas NSE Nifty hovered below 11,500 and touched a day's low at 11,487.15, down 49.75 points. Shares of Sun Pharma (down 2.8%), Yes Bank (down 2.63%), Power Grid (down 2.11%), ICICI Bank (down 1.35%), SBI (down 1.26%), Maruti Suzuki (down 1.09%) were the major Sensex losers whereas Bajaj Auto (up 2.64%), Tata Motors (up 1.32%) and Coal India (up 1.13%) were the only notable gainers. 

    Earlier yesterday, the tech-heavy Nasdaq saw sharp declines as internet stocks faltered for a second day on concerns about increased regulation, while a warning from KLA Tencor led a slide in chip stocks, Reuters reported. The Dow Jones Industrial Average was down 50.75 points, or 0.20% at 25,924.24, the S&P 500 was down 15.74 points, or 0.54% at 2,872.86 and the Nasdaq Composite was down 83.19 points, or 1.04% at 7,911.98.
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