Sensex rises 323 pts, Nifty closes at 10491; Metal, Pharma stocks rally


The domestic indices ended 1% higher on Friday taking cues from the global markets. The S&P BSE Sensex ended at 34,142, up 323 points while the broader Nifty50 index settled at 10,491, up 108 points.

Among sectoral indices, the Nifty Metal index ended nearly 3% higher on Friday led by a rise in the shares of Jindal Steel & Power, Tata Steel and National Aluminium Company. The Nifty Pharma index also ended over 2.5% higher led by surge in the stocks of Sun Pharmaceutical Industries and Divi’s Laboratories.

Sun Pharmaceutical Industries turned volatile, trading 3.5% higher at Rs 561 on the BSE at 02:34 pm on Friday, after the company said the US Food and Drug Administration (USFDA) issued Form 483, with three observations, for its Halol facility in Gujarat.

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Nifty settles below 9,800, down over 1.5% for the week; Sensex ends flat


Benchmark indices pared gains to end flat, losing over 1.5% in the week on foreign fund outflows amid worries that the government may widen its fiscal deficit target of 3.2% of gross domestic product for the year ending in March 2018 to boost an economy that grew at a slower pace than expected.

Broader markets outperformed benchmark indices with BSE Midcap and BSE smallcap indices gaining 0.8% and 1% respectively. Both indices ended over 1% for the week

Foreign investors net selling equities worth $1.1 billion during the month. They had sold worth $2 billion in shares in August.

Bajaj Auto, Adani Ports, GAIL and Eicher Motors gained the most on both indices, while HUL and Wipro were the top losers.

Realty firm Godrej Properties today said it has entered into a joint venture agreement with Royale Builders and Developers to develop a 13-acre group housing project in north Bengaluru.

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Sensex ends the week below 27000, Nifty slips below 8,250; IT stocks drag on H1B woes


Equity benchmarks closed lower on Friday, with the Sensex falling more than 100 points amid consolidation as investors remained cautious ahead of quarterly earnings that will start next week with Infosys & TCS. Profit booking, further correction in technology stocks and weak European cues drove the market lower while buying in banking & financials stocks capped downside.

The 30-share BSE Sensex slipped 119.01 points to 26759.23 after hitting an intraday high of 27009.61. The 50-share NSE Nifty fell to hold on to 8300 level, down 30 points at 8243.80.

The broader markets, too, were under pressure with the BSE Midcap down 0.3 percent as about 1532 shares declined against 1185 advancing shares.

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