Sensex ends on Friday 19 pts down, Nifty at 10,768; Sun Pharma up 8%


Benchmark indices trimmed their morning losses and ended flat on Friday even as yields on the 10-year government bonds hit over 8% in the opening session today, first time since May 2015, but soon declined.

The S&P BSE Sensex ended at 35,444, down 19 points while the broader Nifty50 index settled at 10,768, down 1 points.

Among individual stocks, Sun Pharma surged over 8%, while Dr. Reddy ended nearly 5% higher on the BSE.

Among sectoral indices, the Nifty Pharma index rose 4.26% today led by a rise in the shares of Sun Pharmaceutical Industries, Lupin and Dr. Reddy’s Laboratories.

Investors also continued to react to Reserve Bank of India’s (RBI) first rate hike since 2014, while maintaining a neutral stance.

Shares of Reliance Industries (RIL) have moved higher by 1.5% to Rs 986 per share, rebounding 2.6% from their intra-day low of Rs 961 on the BSE.

Shares of select public sector undertaking (PSU) banks were quoting higher for the third straight trading day ahead of Finance Minister Piyush Goyal’s meeting on Friday with the chief executives of 15 public sector banks (PSBs) in Mumbai. Dena Bank, Uco Bank and Corporation Bank were up 5% each, while Punjab National Bank (PNB), Bank of Maharashtra, Indian Overseas Bank, Andhra Bank and Allahabad Bank were up in the range of 3% to 4%. Shares of State Bank of India (SBI) however, trading 0.17% lower at Rs 269 on the National Stock Exchange (NSE).

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Surgical strikes across the LoC spook the sensex


After witnessing a sharp fall on Thursday due to geo-political concerns, markets rebounded and ended flat on the first day of October series despite weak global cues.
The S&P BSE Sensex ended up 38 points to settle at 27,866 and the Nifty50 settled 20 points higher at 8,611. In the broader market, both the BSE Midcap and Smallcap indices outperformed the front-liners with gains of 2% each.
On Thursday, markets ended at their lowest closing levels since August 26, 2016 as risk-aversion prevailed following September F&O expiry and concerns over foreign capital outflows amid geo-political tensions arising between India and Pakistan after the Indian Army conducted surgical strikes across LoC in Pakistan on Wednesday night.
Top gainers from the Sensex pack included GAIL, M&M, ONGC, Power Grid and Tata Steel, all surging between 1%-3%. On the losing side, Cipla, ITC, Coal India, Bharti Airtel and HUL slipped between 1%-3%.