Share market HIGHLIGHTS: Sensex soars 718 pts, Nifty ends at 10,250; ICICI Bank gains 11%, Tata Power up 13%

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Updated:Oct 29, 2018 4:37:58 pm

Share market HIGHLIGHTS today: Sensex and Nifty traded in the positive territory on Monday led by healthy buying in banking, pharma and auto stocks among others. ICICI Bank shares zoomed over 9% after the bank reported strong numbers for the second quarter ended September.

sensex, share market live, nifty, stock marketShare market today: Check for Sensex, Nifty live updates

Share market HIGHLIGHTS: Sensex and Nifty — the benchmark indices of the domestic equity markets — extended gains led by healthy buying in all sectors led by PSU banks, pharma, IT, media and metal stocks. The BSE Sensex surged over 800 points to an intra-day high of 34,154.60 points, while the NSE Nifty jumped over 220 points to scale a high of 10,275.30 points on the NSE.

ICICI Bank shares zoomed over 11% after the bank reported strong numbers for the second quarter ended September. Tata Power shares closed 13% higher following reports that the Supreme Court has allowed for application to be made before CERC to amend PPA (power purchase agreement) as per High Powered Committee recommendations.

The BSE Sensex closed Monday’s trade 718.09 points or 2.15% higher at 34,067.40 points. ICICI Bank was the top index contributor, followed by Reliance Industries, LT, SBI, Tata Consultancy Services, Axis Bank, Infosys and itc. The Nifty of the NSE ended at 10,250.85 points, up 220.85 points or 2.20%. The Nifty PSU Bank index closed 7.99% higher.

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Share Market HIGHLIGHTS: Sensex, Nifty, Indian Rupee vs US Dollar, Latest Stock Market News, NSE, BSE

Highlights

    16:37 (IST)29 Oct 2018
    All the sectoral indices on the NSE traded with sharp gains: BNP Paribas Mutual Fund

    Stock markets in India witnessed a relief rally today as key benchmark indices surged in opening trade and sustained the momentum through the day. Overseas, Asian markets declined while European markets traded firm as investors tracked a number of political events and waited for further earnings reports. On the macro front, India's exports rose by 9.8%, in financial year 2017-18, which is the highest rate of growth in six years. This positive growth in exports has taken place at a time when there is a lot of negative headwinds globally. Market participants were cheered by this and accordingly took to buying Indian equities. Both the benchmark Sensex and the Nifty finally closed the day with gains of over 2%. All the sectoral indices on the National Stock Exchange traded with sharp gains.

    -- Abhijeet Dey, Senior Fund Manager – Equities, BNP Paribas Mutual Fund

    16:36 (IST)29 Oct 2018
    Nifty jumps over 220 points : Epic Research

    Nifty rebounded back to 10200 marks erasing its last 4 days of losses as lower level buying and short covering pulls Nifty out of bears grip. The buying was seen across the board with Pharma and PSU leading the rally adding 5% to 7% while all other indices were up between 2% to 4%. This is a classic buying that we have seen at lower levels merging just about the time when it looked like it was almost a forlorn hope for the bulls. Derivatives data saw a huge addition in the long side on strikes such as 10200 and 10300 while the writing seen on 10000 did point to it as a major support.

    With that, Leading indicators are already giving some positive divergence while price action has matched up with that though this bounce back looks internally positive with a strength we like to see a follow up buying and surpass the resistance now placed at 10400 - 10380. That may not be easy as in short-term upper hand lies with bears but a close above that would further trigger short covering that may stretch current run. We suggest buying on dips with SL below 10120 and upside target for 10350 - 10380.

    -- Mustafa Nadeem, CEO, Epic Research

    16:30 (IST)29 Oct 2018
    Tata Power to raise up to Rs 5,500 crore via NCDs

    Tata Power's Board has approved plan to raise up to Rs 5,500 crore through issuance of non-convertible debentures (NCDs) on a private placement basis. "The board has approved issuance in one or more tranches, of non-cumulative, redeemable, taxable, listed, rated securities in the form of non-convertible debentures up to an aggregate amount not exceeding Rs 5,500 crore on private placement basis," Tata Power said in a BSE filing. Shares of Tata Power settled 12.40% higher at Rs 77.50 per share on the BSE.

    15:42 (IST)29 Oct 2018
    NSE Live! Check out top Nifty gainers and losers

    The NSE Nifty closed Monday's trade at 10,250.85 points, up 220.85 points or 2.20%. Gains were led by PSU Banks, pharma and auto stocks. Check out the top gainers and losers on the Nifty:

     

    15:33 (IST)29 Oct 2018
    CLOSING BELL: Sensex closes over 700 points higher; Nifty ends above 10,250

    The BSE Sensex closed over 700 points higher on Monday led by gains in most PSU Banks and pharma stocks. The NSE Nifty held on to the 10,250-level on closing. Check out the top gainers and losers on the Sensex:

    15:29 (IST)29 Oct 2018
    Bharti Airtel Delays IPO of $8 Billion Africa Business

    Bharti Airtel Ltd is delaying a planned initial public offering of its Africa unit due to the turmoil in emerging-market stocks, Bloomberg reported quoting people with knowledge of the matter. The company, which was originally aiming to list the unit in London by March, has pushed back the share sale by about half a year, according to the people. Shares of Bharti Airtel traded 1.78% lower at Rs 293 per share on the BSE.

    15:26 (IST)29 Oct 2018
    Dollar stands tall as equities fall, global sentiment remains fragile

    The dollar rose towards a 10-week high against a basket of other currencies on Monday as concerns about global growth pervaded markets, said a Reuters report. World stocks have sold off in October, beset by worries over corporate earnings and geopolitical uncertainty. That has lifted the dollar - a currency that typically outperforms in risk-off periods - but the currency has strengthened only moderately.

    14:02 (IST)29 Oct 2018
    Q2 UPDATE: Tata Power PAT up 85.4%

    Key highlights:

    • PAT up 85.4% to Rs 393 cr YoY
    • Revenue up 6.7% to Rs 7,332 cr Yoy
    • EBITDA at Rs 1,725 cr

    Tata Power shares traded 14.58% higher at Rs 79 per share on the BSE.

    13:54 (IST)29 Oct 2018
    ICICI Bank share price extends gains after strong Q2

    ICICI Bank shares zoomed nearly 10% on Monday after the bank’s quarterly results showed an improvement in asset quality for the quarter ended September 2018. ICICI Bank share price surged by 9.8% to an intra-day high of Rs 346.55 per share on the NSE on Monday, the highest level in over a month. ICICI Bank was the top gainer on both the Sensex and Nifty indices in Monday’s trade.

    Read full story here: ICICI Bank share price zooms 10% after Q2 result shows improved asset quality; is it the right time to buy?

    13:45 (IST)29 Oct 2018
    Vedanta wins 10-yr extension for Rajasthan oil block

    Vedanta Ltd has won a 10-year extension of its contract for the prolific Rajasthan oil block, but on condition that it pays a higher share of profit to the government. On Monday, the company said the 25-year contract for exploration and production of oil and gas from Barmer block RJ-ON-90/1 of Vedanta, formerly Cairn India, is due for renewal on May 14, 2020. "The Government of India, acting through the Directorate General of Hydrocarbons, Ministry of Petroleum and Natural Gas has granted its approval for a ten-year extension of the Production Sharing Contract (PSC) for the Rajasthan Block, RJ-ON-90/1," the company said in a regulatory filing to the BSE.

    Vedanta shares were trading 2.11% higher at Rs 208.35 per share on the BSE.

    13:29 (IST)29 Oct 2018
    Reliance Nippon Life Insurance Sep quarter premium up 8% to Rs 1,042 crore

    Reliance Nippon Life Insurance Company on Monday said its total premium grew by 8% to Rs 1,042 crore in July-September quarter compared to the year-ago period. The company said it had assets under management of Rs 19,612 crore as on September 30 this year, up by 9% from the same period a year ago, PTI reported. Its renewal premium during the period under review rose 4% to Rs 792 crore.Its individual WRP (weighted received premium) grew 35% year-on-year to Rs 222 crore. The company said business made a marginal profit in the second quarter of this fiscal as against a loss in the corresponding period a year ago.

    Reliance Nippon Life AMC shares fell 0.28% to trade at Rs 159.10 per share on the BSE.

    13:26 (IST)29 Oct 2018
    Sector UPDATE: Nifty PSU Bank index trades at a year's high

    The Nifty PSU bank index extended gains on Monday, surging to over a year's high on the National Stock Exchange. Check out the top gainers on the index:

    12:31 (IST)29 Oct 2018
    Q2 UPDATE: Prakash Industries Q2 profit up over 80%

    Key Highlights:

    • Net profit surges 80.4% to Rs 130.7 cr YoY
    • Revenue up 46% to Rs 950 cr YoY
    • EBITDA up 60.2% to Rs 190 cr YoY
    • EBITDA margin up 20%

    Prakash Industries share price was trading 7.55% higher at Rs 108.95 per share on the BSE.

    12:28 (IST)29 Oct 2018
    Q2 UPDATE: Vijaya Bank's Q2 profit down 24%

    Key highlights:

    • Gross NPA down 0.3% QoQ
    • Net NPA down 1.9% QoQ
    • Q2 profit down 24.5% YoY to Rs 140 crore YoY
    • NII up 15.6% to Rs 1,165.5 crore

    Shares of Vijaya Bank rose nearly 5% to Rs 42.60 per share on the BSE.

    12:22 (IST)29 Oct 2018
    Tata Power, Adani Ports shares surge after SC nod to PPA amendment negotiation

    Shares of Tata Power surged nearly 20% to Rs 82.50 per share on the BSE following reports that the Supreme Court has allowed for application to be made before CERC to amend PPA (power purchase agreement) as per High Powered Committee recommendations. TV news reports said the CERC will decide if the power purchase agreement can be amended. Following the news, Adani Power shares rose nearly 10% to a high of Rs 39 per share.

    12:05 (IST)29 Oct 2018
    Sensex at 12! ICICI Bank, Axis Bank, SBI top gainers

    Around 12 pm on Monday, the BSE Sensex traded 259.78 points or 0.78% higher at 33,609.09 points led by gains in shares of ICICI Bank. Axis Bank, Sbi, Sun Pharma and LT among others.

    11:27 (IST)29 Oct 2018
    Australia shares gain across the board; NZ ticks up

    Australian shares closed higher on Monday, driven by financials and materials sectors as investors snapped up beaten down stocks after the recent sell-off in global markets, said a Reuters report. The S&P/ASX 200 index closed up 63 points at 5,728.200 to show a 1.1% gain - its biggest daily advance in nearly two weeks. Last week the index lost 4.6% amid a rout in global equities over concerns of cooling global growth and trade war tensions. Dominating the action on Monday, financials stocks rose 1.1%. Australia and New Zealand Banking Group, the country's third largest lender by market value, added 1.2%, while National Australia Bank edged 1.3% higher.

    11:11 (IST)29 Oct 2018
    Q2 Update: Hester Bio's net profit up 12%

    Key highlights:

    • Net profit up 12.2% at Rs 9.9 cr vs Rs 8.8 cr YoY
    • Revenue up 7.7% at Rs 42 cr vs Rs 39 cr YoY
    • EBITDA down 2.4% at Rs 15.2 cr vs Rs 15.6 cr Yoy

    Hester Biosciences shares traded 0.67% lower at Rs 1,143.10 per share.

    11:05 (IST)29 Oct 2018
    Q2 IMPACT: Dr.Reddy's rises 6% after strong Q2 results

    Shares of Dr. Reddy's Lab rose 6.4% to an intra-day high of Rs 2,559 per share on the NSE marking the biggest daily percentage gain since May 22. The company reported better-than-expected rise in second-quarter profit of $70.57 million) on Friday, helped by higher sales in some emerging countries.

    10:56 (IST)29 Oct 2018
    Oil dips as markets remain cautious on trade concerns

    Oil prices dipped on Monday as sentiment remained cautious after a plunge in financial markets last week triggered worries that global growth may be slowing, said a Reuters report. Front-month Brent crude oil futures were at $77.56 a barrel at 0430 GMT, 6 cents below their last close. U.S. West Texas Intermediate (WTI) crude futures were at $67.59 a barrel, flat from their last settlement. Sentiment among investors remained cautious after hefty losses last week.

    10:42 (IST)29 Oct 2018
    NSE update: FMCG, metals, realty indices in red

    The NSE Nifty on Monday traded with gains, inching closer to the 10,100 mark as banking, pharma and auto stocks gained. On the other hand. FMCG, metals and realty indices posted losses.

    10:32 (IST)29 Oct 2018
    Global markets UPDATE: China shares slide as profits weaken; liquor makers on the rocks

    China shares fell on Monday as cooling demand ate into profits for industrial and consumer firms, adding to investors' concerns about the slowing economy, according to a Reuters report. By the midday break, the blue-chip CSI300 index was down 2.3 percent at 3,101.16 points, while the Shanghai Composite Index was off 1.5 percent at 2,560.74, shrugging off Beijing's latest attempts to bolster the country's markets.

    10:17 (IST)29 Oct 2018
    Sector UPDATE: Pharma stocks gain after CRISIL report

    The Nifty Pharma index traded on a higher note on Monday after ratings agency Crisil said big Indian drug firms are expected to return to double-digit growth in the current fiscal. After two consecutive years of single-digit expansion, big Indian drug firms are expected to return to double-digit growth in the current fiscal aided by recovery in US sales, weakening of the rupee and revival of domestic demand, ratings agency Crisil said on Sunday. The return to double-digit growth would help the homegrown pharma companies, with turnover of Rs 1,000 crore or more, to weather a sharp rise in input costs. As per Crisil, green shoots are already visible in the first quarter for 20 of these listed drug-makers, which account for three-fourths of the pharma industry revenue.

    09:59 (IST)29 Oct 2018
    Reliance Industries gains over 1%

    Reliance Industries shares gained 1.16% to an intra-day high of Rs 1,056.85 per share on the BSE after reports said Billionaire Mukesh Ambani has won oil regulator PNGRB’s approval for selling his loss-making east-west natural gas pipeline to Canadian investor Brookfield. Ambani’s Reliance Gas Transportation Infrastructure Ltd, which later changed the name to East West Pipeline Ltd (EWPL), a decade back built a 1,400-kilometer pipeline from Kakinada in Andhra Pradesh to Bharuch in Gujarat to transport natural gas discovered in a KG basin block operated by his flagship firm Reliance Industries. The report was given by PTI citing a top official.

    09:55 (IST)29 Oct 2018
    Sector UPDATE: Nifty PSU Bank index gains; SBI shares up 2%

    The Nifty PSU Bank index rose on Monday, led by gains in SBI, Union Bank, Vijaya Bank, Canara Bank and Bank of Baroda shares. Meanwhile, the NSE Nifty index traded 44.25 points or 0.44% higher at 10,074.25 points. 

    09:48 (IST)29 Oct 2018
    Today USDINR likely to remain in the range of 73.10-73.42

    Today USDINR is likely to remain in the range of 73.10 (stretched 72.95) to 73.42 (stretched 73.61). Dollar holds firm against major currencies, Dollar Index currently at 96.45, as geopolitical uncertainties, global growth, concerns over corporate earnings kept the reserve currency supported. Asian markets though have come back in green in trades today, but remain highly cautious. And for similar reasons, Oil too remains relatively weaker, though has recouped some of its last weeks losses. Brent Crude now at $77.55 per barrel, and it remaining sub-$80 would continue to provide support to the Indian Rupee. Asian Markets of Nikkei & HangSeng are 67 & 64 points respectively, whereas SGX Nifty Fut is up 72 points.

    -- Hiren Sharma, Portia Advisory Services LLP

    Also read: Rupee gains 17 paise, opens at 73.29 per US dollar on RBI intervention, crude oil price fall

    09:44 (IST)29 Oct 2018
    Earnings, macro-data to guide markets this week

    Some more set of earnings, along with macro-data and global market movements will chart the course of the headline indices in the upcoming week, said experts. Mustafa Nadeem, CEO, Epic Research, has underlined macro-data and the impact of country’s largest private sector lender ICICI Bank’s Q2 performance as the key factors to steer the market next week. Read the full story here: Sensex, Nifty fall over 2% to 7-month lows last week; Q2 earnings, global cues to guide ahead

    09:39 (IST)29 Oct 2018
    NSE live! Check out the most traded stocks

    ICICI Bank was among the most traded stock by volume on the NSE in the first 15 minutes of trade on Monday, followed by Kwality, RCom, Yes Bank and JP Associates. Check out all the stocks here:

    09:37 (IST)29 Oct 2018
    ICICI Bank shares rise 5% after strong Q2 numbers

    Shares of ICICI Bank rose 5% to an intra-day high of Rs 328.90 per share on the BSE in early morning trade on Monday. The bank had come out with a strong set of numbers after markets hours on Friday, posting a net profit of Rs 908.88 crore on a standalone basis, which was much better than the quarter ago’s Rs 120 crore loss. The bank’s core net interest income rose 12.4% to Rs 6,418 crore on an eight-quarter high credit growth of 15.7% and a 0.10% expansion in the net interest margin at 3.33% on a blended basis.

    09:24 (IST)29 Oct 2018
    MARKET OPEN: Sensex opens 200 points higher; ICICI Bank shares zoom 5% on strong Q2

    The BSE Sensex, which opened on a higher note, turned flat within a few minutes of trading on Monday. ICICI Bank shares zoomed 5% after the bank reported strong numbers for the second quarter ended September. The NSE Nifty slipped below the 10,050 level.

    09:19 (IST)29 Oct 2018
    Stocks in news: ICICI Bank, BPCL, HDFC AMC, Cox & Kings, Axis Bank

    Sensex and Nifty opened on a positive note on Monday tracking a mild recovery in the Asian markets. Check out the top stocks to track in today's trade. ICICI Bank, BPCL, HDFC AMC, Cox & Kings, Axis Bank among top stocks to trade.

    09:14 (IST)29 Oct 2018
    PRE-OPEN: Sensex surges over 200 points; rupee opens at 73.2997 per dollar

    The Sensex surged over 200 points during the market pre-open session, while the NSE Nifty traded 0.48% higher. The Indian rupee opened at 73.2997 against the US dollar vs its Friday's close at 73.4662/$.

    Share market last week: Sensex and Nifty posted their second consecutive weekly loss, falling nearly 2.8% during the week to their lowest levels in over seven months. The benchmark domestic market indices have fallen over 8% in October. On Friday, the market entered the November derivatives series on a weak note, with the Sensex plunging over 400 points from its day’s high while the Nifty managed to hold on to the 10,000 mark.
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