The Indian markets ended over half a per cent higher on Friday, lifted by financial stocks, while volatility index, India VIX, dipped 4 per cent to below 20 levels.
The S&P BSE Sensex gained 214 points, or 0.56 per cent, to 38,435 levels, and the Nifty50 index ended above the 11,350-mark at 11,372, up 59 points or 0.53 per cent. NTPC (up over 4.5 per cent), Asian Paints (up over 4 per cent) and Power Grid (up over 4 per cent) were the top Sensex gainers. Asian Paints hit a record high of Rs 1,971 during the day. The stock settled at Rs 1,958.35 on the BSE.
On a weekly basis, Sensex gained 1.47 per cent while Nifty added 1.72 per cent.
On the flip side, ONGC (down over 1 per cent), Bharti Airtel (down 1 per cent), and Tata Steel (down nearly 1 per cent) were the biggest losers on the index.
Among other individual stocks, GMM Pfaudler surged over 8 per cent in early deals after it said it has acquired a 54 per cent stake in its parent firm Pfaudler Group for a consideration of around $27.4 million.
The trend among Nifty sectoral indices was positive, led by Nifty PSU Bank index, up 1.8 per cent.
Meanwhile, the broader markets kept up their outperformance. The S&P BSE MidCap index ended at 14,954, up 0.57 per cent while the S&P BSE SmallCap index ended at 14,625.19, up nearly 1.5 per cent.
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After remaining range-bound for the most part of the session, benchmark indices turned highly volatile in the last hour of the trade on Friday with the indices briefly swinging into positive territory, before settling flat with negative bias. Except for metal stocks, selling was witnessed across the board.
The S&P BSE Sensex ended at 31,098, down 25 points or 0.08 per cent. Of 30 constituents, 20 declined and 10 advanced. Mahindra & Mahindra (down around 5 per cent) ended as the top loser on the index while telecom major Bharti Airtel (up nearly 3 per cent) was the biggest gainer.
ICICI Bank, Axis Bank, HDFC Bank, and Infosys contributed the most to the index’s loss.
On the NSE, Nifty ended at 9,137, down 6 points or 0.06 per cent.
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Benchmark indices surged in the last hour of Friday’s trading session after trading in a range-bound manner for a major part of the day.
The S&P BSE Sensex added 239 points or 0.8 per cent to 37,380 levels. Hero MotoCorp, ICICI Bank, Kotak Mahindra Bank, Maruti Suzuki India, and HCL Tech were the top gainers in the Sensex pack. The broader Nifty50 hovered around 11,080 levels, up 100 points, or 0.9 per cent.
The Nifty sectoral indices, except three, were trading in the green. While Nifty Realty index rose the highest 1.6 per cent, Nifty Auto index also gained 0.9 per cent. On the other hand, Nifty Pharma index was the top loser, down 0.9 per cent.
In the broader market, the S&P BSE MidCap index was trading flat at 13,610 levels. Meanwhile, the S&P BSE SmallCap index surged 64 points, or 0.5 per cent, to 12,970 levels.
Shares of banks and non-banking financial companies (NBFCs) dropped up to 5 per cent in the morning deals on Friday, a day after Altico Capital India, a lender to real estate companies, said it has defaulted on interest payments to Mashreq Bank of Dubai. An interest payment of Rs 19.97 crore was due on September 12, according to a regulatory filing with the BSE. This payment is now in default. The principal amount for the external commercial borrowing on which Altico Capital has defaulted stands at Rs 340 crore, the filing said.
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The benchmark indices ended on a positive note on Friday after two consecutive sessions of losses, lifted by a sudden surge in the last 15 minutes on a day when the indices remained rangebound for the majority of the duration.
The S&P BSE Sensex ended at 38,862.23, up 177.51 points, or 0.46 per cent, with Tata Steel being the top gainer and State Bank of India being the biggest loser. About 1,500 shares advanced, 1,049 shares declined, and 165 shares remained unchanged.
The NSE’s Nifty50 index closed above 11,650 level at 11,665.95, up 68 points, or 0.59 per cent.
Metal stocks advanced the most, followed by realty and IT counters. The Nifty Metal index ended almost 2 per cent higher at 3,132.35.
On a weekly basis, the S&P BSE Sensex ended 0.49 per cent higher while the NSE Nifty 50 gained 0.36 per cent on a weekly basis.
In the broader market, the S&P BSE Midcap index surged 97 points or 0.63 per cent to close at 15,509. The S&P BSE SmallCap rose 108 points or 0.72 per cent to end at 15,046.
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Continuing with their lacklustre performance for the third straight day, the equity benchmark indices settled on a flat note on Friday. While the day witnessed solid buying in bluechips such as Reliance Industries (RIL), HCL Tech, HDFC Bank and TCS, the gains in the index were capped by drubbing in counters including Sun Pharma, Bharti Airtel and L&T.
The S&P BSE Sensex ended just 13 points higher at 36,387, while NSE’s Nifty50 index held the crucial 10,900 level to close at 10,907, up 2 points. On a weekly basis, both the indices ended 1 per cent higher.
Sectorally, barring IT, all other indices ended in the red with the pharma stocks bleeding the most. The Nifty Pharma pack lost nearly 3 per cent to end the day at 8,690.
Shares of pharma bellwether Sun Pharma crashed to their six year- low of Rs 375.40 apiece in the early trade on Friday after news reports suggested fresh whistleblower documents were sent to Sebi. The stock plunged as much as 12 per cent on BSE. The company, however, in a BSE filing clarified that it was not privy to the news reported by MoneyLife. The stock, eventually, ended nearly 9 per cent lower at Rs 390.75.
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The domestic equity indices snapped out of a two-session losing streak to settle 0.5 per cent higher on Friday led by a rise in public sector banks and metal stocks.
The S&P BSE Sensex ended at 35,695, up 181 points or 0.51 per cent, while the broader Nifty50 index settled at 10,727, up 55 points or 0.52 per cent. On a weekly basis, the S&P BSE Sensex fell 1.05 per cent, while the Nifty 50 declined 1.22 per cent.
In the broader market, the S&P BSE MidCap index rose 0.48 per cent or 72 points to end the day at 15,148, while the S&P BSE SmallCap settled at 14,592, up 0.14 per cent or 20 points on Friday.
Among sectors, the Nifty PSU Bank rose the most on Friday, gaining 2.32 per cent led by Syndicate Bank, Punjab National Bank (PNB) and State Bank of India (SBI). Nifty Metal too, rose 1.40 per cent led by Jindal Steel & Power, Vedanta and Tata Steel.
The rupee traded on a firm note having risen to 69.75 against the US dollar in intra-day trade. The domestic unit had settled at 70.17 against the greenback on Thursday.
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Markets consolidated with midcaps at record high. The Bank Nifty closed at its highest level in the last 17-months high. The Sensex was down 46.44 points or 0.2 percent at 28077 and the Nifty was down 6.35 points at 8666.90. About 1480 shares have advanced, 1237 shares declined, and 182 shares are unchanged.
In stock specific action SBI remained on buyers’ radar gained 4 percent as investors gave a thumbs up to its merger ratio. All SBI associates including State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner and Jaipur jumped.
BHEL, Tata Steel, HUL and Cipla were other top gainers while Coal India, TCS, Lupin, Sun Pharma and M&M were losers in the Sensex.
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Equity benchmarks ended the last session of the week on a negative note. The Sensex fell 74.59 points to 27126.90 and the Nifty declined 14.70 points to 8323.20.
The market breadth was negative as about 1545 shares declined against 1161 advancing shares on Bombay Stock Exchange. Tata Motors, Asian Paints and Hero Motocorp
Tata Motors, Asian Paints and Hero Motocorp topped buying list on Sensex, up more than 2 percent while Bharti Airtel and GAIL fell over 2 percent.
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