The benchmark indices settled higher on Friday taking cues from their Asian peers.
The S&P BSE Sensex ended at 37,948, up 284 points while the broader Nifty50 index settled at 11,471, up 86 points.
Among key stocks, the fast moving consumer goods (FMCG) major ITC rose over 2 per cent to end at Rs 313 levels on the BSE. The stock hit a fresh 52-week high of Rs 315 earlier today. ICICI Bank and State Bank of India also ended higher in a range of 1.8 to 3.0 per cent on the BSE.
Among sectors, the Nifty Pharma index ended higher for the fourth straight day, hitting an over six-month high on the National Stock Exchange (NSE). Sun Pharmaceutical Industries, Dr Reddy’s Laboratories, Glenmark Pharmaceuticals, Lupin, Aurobindo Pharma and Cadila Healthcare from the index, were up in the range of 1 per cent to 4 per cent on the NSE.
Shares of paper companies were trading higher on the bourses on expectations of a positive outlook for the current July-September quarter.
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Benchmark indices ended lower on Friday, after touching record highs for four straight sessions, following global market trends. Metals, pharma and PSU banks were the top draggers during the day.
The S&P BSE Sensex ended the day at 37,869 down 155 while the Nifty50 index settled at 11,429 down 41 points
SBI slipped 4% after it reported a bigger-than-expected quarterly loss on Friday, as the country’s biggest lender by assets made higher provisions for treasury losses. SBI’s third consecutive quarterly net loss came in at Rs 48.76 billion ($707.28 million) for the three months to June 30, compared with a profit of Rs 20.06 billion a year ago, and a record loss of Rs 77.18 billion in the March quarter. Gross NPA stood at 10.69% vs 10.91% QoQ while provisions were at Rs 192.28 billion vs Rs 280.96 billion QoQ
Shares of Jet Airways hit a three-year low of Rs 262, down 10% on the BSE on Friday in early morning trade after the company deferred announcing their June quarter numbers to an unspecified date. On the National Stock Exchange (NSE), the stock hit a low of Rs 258, and is trading at its lowest level since June 16, 2015
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The benchmark indices ended at record closing high for the second straight session on Friday on strong quarterly results. The gains were led by index heavyweights like ITC, RIL, and Hindalco.
The S&P BSE Sensex settled at a record high of 37,337, up 352 points, while the broader Nifty 50 index settled at a new high of 11,278, up 111 points.
In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37368.62 while the Nifty50 index touched its record high level of 11,283.40.
Leading the gains is ITC, which has surged over 5 per cent on the BSE. Beating street estimates, diversified conglomerate ITC on Thursday posted a 10.07 per cent jump in its net profit at Rs 28.19 billion for the quarter ended June 30, 2018 with its total revenue, inclusive of other income, registered at Rs 112.78 billion.
Among other gainers, Reliance Industries was among the top contributors to the NSE index, up over 1.5 per cent ahead of its quarterly results later in the day. The oil-to-retail conglomerate will also report results of its telecom arm Reliance Jio.
Nifty Bank index also hit an all-time high, ending 0.8% higher for the day. IDFC Bank, Federal Bank, and Axis Bank were the top gainers in the pack, up between 2 per cent to 2.6 per cent.
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The benchmark indices pared most of their day’s gains to end marginally higher on Friday tracking recovery in the global markets.
The S&P BSE Sensex ended at 35,658, up 83 points while the broader Nifty50 index settled at 10,773, up 23 points.
Among sectoral indices, the Nifty Auto index settled over 1% led by rise in the stocks of Ashok Leyland, Hero MotoCorp and Tata Motors.
The rupee recovered 21 paise from intra-day low of 69.03 to trade at 68.82 against the US dollar in late morning deals. As the US is set to impose tariffs on Chinese goods today and sustained foreign capital outflows pressured the sentiment, the rupee fell sharply to 69.03 a dollar before quoting 68.82. The rupee moved in range between 68.82 and 69.03.
Shares of paint company Asian Paints, fast moving consumer goods (FMCG) firm Hindustan Unilever (HUL) and information technology giant Tata Consultancy Services (TCS) from the Sensex have hit their respective new highs on the BSE on Friday. Thus far in the current calendar year 2018, these three stocks have outperformed the market by gaining in the range of 15% to 39%, as compared to 4.5% rise in the S&P BSE Sensex.
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The benchmark indices settled over 1% higher on Friday after the rupee recovered from its all-time low and Asian peers staged a pullback.
The S&P BSE Sensex ended at 35,423, up 386 points while the broader Nifty50 index settled at 10,714, up 125 points.
Among sectoral indices, the Nifty Metal index settled 2.8% higher led by a surge in the shares of Jindal Steel & Power, NMDC and Hindalco Industries. The Nifty PSU Bank index also rose 1.35% led by IDBI Bank, Oriental Bank of Commerce and Syndicate Bank.
On the BSE, the S&P BSE Midcap index rose 1.8% higher on Friday and the S&P BSE Smallcap index ended 1.9% up.
Among individual stocks, Tata Steel was the biggest gainer on S&P BSE Sensex, gaining 3.6% to settle at Rs 567.85. The market heavyweight Reliance Industries also rose 3% to end at Rs 972.95 on Friday.
The rupee, which breached the 69 per dollar mark for the first time on Thursday, recovered tracking a rebound in Asian shares and currencies. The Indian currency had on Thursday breached the 69-mark but covered lost ground to finally close at an all-time low of 68.79 with a fall of 18 paise against the US dollar due to multiple headwinds like weak global cues and concerns related to inflation and fiscal slippage.
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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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Benchmark indices edged lower on Friday as losses in financials offset gains in auto stocks, with investor focus shifting to the monsoons.
The S&P BSE Sensex ended at 35,227, down 95 points while the broader Nifty50 index settled at 10,696, down 40 points.
Among sectoral indices, the Nifty Bank index ended over 1% lower led by a fall in the shares of IndusInd Bank and Federal Bank.
Meanwhile, government data showed on Thursday that Indian economy grew 7.7% year-on-year in January-March, its quickest pace in nearly two years driven by higher growth in manufacturing, the farm sector and construction.
Adani Power Mundra, a subsidiary of Adani Power, is likely to approach the National Company Law Tribunal (NCLT) for bankruptcy protection. This comes after its lenders stepped back from stake-sale negotiations with Gujarat Urja Vikas Nigam (GUVNL), the state power distribution company.
Sun TV Network fell for fifth straight session, down 3.9% at Rs 881.85, on the NSE. Sun TV Network jumped 5.69% in last one year as compared to a 10.94% rally in Nifty and a 1.48% spurt in the Nifty Media index.
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Benchmark indices declined for a fourth straight session on Friday, amid caution over uncertainty over the formation of government in Karnataka, developments in US-China trade negotiations and firm crude prices.
In a major political development, the Supreme Court held a hearing in the Karnataka government formation matter, directing that the Bharatiya Janata Party (BJP) leader and the state’s new chief minister, BS Yeddyurappa, must conduct the floor test on Saturday at 4 pm.
The S&P BSE Sensex ended at 34,848, down 301 points while the broader Nifty50 index settled at 10,605, down 78 points
Among sectoral indices, the Nifty Bank index fell as much as 0.6%, extending its drop into a third session. ICICI Bank declined 2.9%, while HDFC Bank slipped 0.8%.
The Nifty PSU Bank Index also shed 1.6%, in what could be its fourth consecutive session of fall, on continued concerns about disappointing quarterly results due to a jump in bad-loan provisions.
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The markets ended higher on Friday ahead of the Karnataka Assembly elections. The southern state will vote on Saturday and the poll outcome will be known on May 15.
The S&P BSE Sensex ended at 35,536, up 289 points while the broader Nifty50 index settled at 10,807, up 90 points.
Among individual stocks, Asian Paints hit a record high on strong March-quarter results and was among the top contributors to index gains. Stock was the top gainer of the broader Nifty50 index.
Shares of Fortis Healthcare ended 3% lower at Rs 148 on the BSE, after the company said the board chooses the Hero Enterprises-Burman Family Office offer as the best for the hospital and diagnostic chain.
Shares of select pharmaceutical companies were under pressure, falling by up to 6% ahead of US President Donald Trump speech today about controlling prescription drug prices. Sun Pharmaceutical Industries slipped 6% to Rs 468 on the BSE in noon deal on back of heavy volumes. Novartis India, Marksans Pharma, Ajanta Pharma, Morepen Laboratories, Alkem Laboratories, Sun Pharma Advanced Research Company (SPARC) and Aarti Drugs were down in the range 3% to 4% on the BSE.
PC Jeweller on Thursday announced its board has approved buy-back of shares worth Rs 4.24 billion amid a sharp plunge in stock price in recent weeks. The shares will be bought back at Rs 350 per unit, which is 67 per cent higher than the closing price of Rs 209 apiece on the BSE on Thursday. Promoters will not participate in the buy-back process. In a regulatory filing, the jeweller said the board at its meeting held on Thursday considered and approved the buy-back of up to 1,21,14,286 fully paid-up equity shares of Rs 10 each.
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Benchmark indices ended flat on Friday, as investors remained cautious after sentiment soured on renewed fears of a trade war after US President Donald Trump proposed more tariffs on China.
Back home, the Reserve Bank of India (RBI) on Thursday adopted a remarkably dovish tone, surprising analysts who were expecting the firming up of rates in the medium term, even as one of the six members in the Monetary Policy Committee (MPC) voted for a hike in an otherwise status quo policy.
The S&P BSE Sensex ended at 33,627, up 30 points while the broader Nifty50 index settled at 10,331, up 6 points.
Reliance Communications Ltd (RCom) said on Friday it received the National Company Law Appellate Tribunal’s (NCLAT) approval to proceed with the sale of its tower and fibre business.
Shares of public sector bank were in focus for the second straight day with Nifty PSU Bank index nearly 1%, extending its Thursday’s 5% surge, after the Reserve Bank of India (RBI) maintained status quo on the key short-term borrowing rate in its first bi-monthly monetary policy for the financial year 2018-19 (FY19) on Thursday.
Punjab National Bank (PNB), Allahabad Bank, Oriental Bank of Commerce, Bank of Baroda, Union Bank of India, Bank of India and Canara Bank were up in the range of 1% to 4% on the National Stock Exchange (NSE).
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