Sensex Ends 181 Points Higher On Buying In Banking Shares

Sensex Ends 181 Points Higher On Buying In Banking Shares
3:432 p.m.: Sensex rose over 150 points while broader Nifty closed above its crucial psychological level of 8,500 for first time in 11 months as encouraging U.S. data and expectations of further monetary stimulus from global policymakers held out hopes for a strong global economic outlook.

The Sensex ended 181 points or 0.66 per cent higher at 27,808 and Nifty advanced 53 points or 0.63 per cent to close at 8,521.

2:43 p.m.: IDFC Bank announces acquisition of micro-finance company Grama Vidiyal Microfinance, shares surge 9.3 per cent to Rs 52.50.

2:32 p.m.: ICICI Bank, Axis Bank, HDFC, Reliance Industries, Maruti Suzuki, Tata Steel, ONGC and State Bank of India were among the top Sensex movers.

1:55 p.m.: Select FMCG shares were witnessing selling pressure. The BSE FMCG index was down 0.25 per cent; Hindustan Unilever, Godrej Consumer Products, Colgate Palmolive, nestle India, Dabur and Procter & Gamble were among the losers from this space.

1:23 p.m.: Shares of Shriram EPC surged as much as 16 per cent to Rs 29.60 today after the company’s board approved the conversion of Rs 1,280 crore working capital loan into equity shares as part of corporate debt restructuring package.

The board of the Chennai-based firm, which is into engineering, procurement and construction business, also approved issuance of Rs 265 crore of worth of preferential issue to the holding company – SVL Limited (erstwhile Shriram Industrial Holdings Limited).(Read)

1:15 p.m.: Jyoti Structures was the top gainer from the small-cap space, up 16 per cent to Rs 15.93. NBCC, Gujarat NRE Coke DVR, Auh Pharma, Ojas Asset Reconstruction Company and Minda Corp were also among the gainers.

1:02 p.m.: Metal stocks were witnessing buying interest. The BSE Metal index was up 1.65 per cent on the back of gains in NALCO, Hindalco, Vedanta, Hindustan Zinc, Jindal Steel, Tata Steel and SAIL.

12:47 p.m.: The market breadth was marginally negative as 1,353 stocks were declining while 1,184 were advancing.

12:41 p.m.: Shares of engineering firm Greaves Cotton jumped as much as 5 per cent to hit intraday high of Rs 145 after the company announced foray into multi-brand spare parts business.

Greaves Cotton is into the business of manufacturing of petrol/diesel engines, farm equipment and gensets.(Read)

12:21 p.m.: Banking shares witness good buying interest. The Nifty Bank index was up 0.76 per cent or 140 points at 18,530; ICICI Bank was the top gainer from this space, up 2.6 per cent to Rs 256.30. Federal Bank, Axis Bank, Bank of India, Canara Bank and State Bank of India were among the gainers, up 1-2.2 per cent each.

12:07 p.m.: Stock markets continue to trade firmly higher on the back of buying in banking shares. Sensex trades 100 points higher at 27,727 and Nifty advances 28 points to 8,495.

11:58 a.m.: Capital Goods shares were witnessing some profit-booking. The BSE Capital Goods index was down 0.46 per cent; Larsen & Toubro, BHEL, SKF India, Sadbhav Engineering, Thermax, AIA Engineering, Alstom T&D and Lakshmi Machine Works were among the losers.

11:51 a.m.: Shares of Coal India fell as much as 2.36 per cent to hit intraday low of Rs 313.30 after the state-run miner’s buyback offer disappointed the Street.

Coal India aftermarket hours yesterday had announced that its board has approved share buyback of 1.72 per cent of shares at a price of Rs 335 per share. The proposed buyback will cost Coal India Rs 3,650 crore.(Read)

11:35 a.m.: Hindalco shares jumped over 5 per cent to their 52-week high on Tuesday, tracking strong numbers of Alcoa, which is the world’s third largest producer of aluminum. Hindalco was the top gainer in the Nifty50 index.

Alcoa on Monday posted better than expected second quarter results, leading to a 4 per cent rise in its shares. The company beat Wall Street expectations in both earnings and revenue, analysts said. (Read)

11:09 a.m.: Mid-cap stocks outperform the benchmark indices. NALCO was the top gainer from this space, up 7 per cent to Rs 47.35. HPCL, Bajaj Finserv, Indiabulls Housing Finance, Jindal Steel, Marico, Titan and JSW Energy were also among the gainers.

10:38 a.m.: Quess Corp made a stellar debut in stock markets, with shares in the staffing firm rising 58 per cent on Tuesday. Quess Corp’s initial public offer (IPO) was oversubscribed 145 times, making it the most oversubscribed issue in the past nine years.

10:07 a.m.: Quess Corp shares make stellar debut on stock exchanges, surge 58 per cent to Rs 500.

10:05 a.m.: Select pharma stocks witness selling pressure. The BSE Healthcare index was down 0.53 per cent; Sun Pharma, Dr Reddy’s Labs, Aurobindo Pharma, Cipla, Lupin, Piramal Enterprises and Glenmark Pharma were among the losers.

9:54 a.m.: Stock markets come off day’s high. Sensex trades 62 points higher at 27,689 and Nifty advances 18 points to 8,486.

9:51 a.m.: The overall market breadth is positive as 1,025 stocks advance while 763 decline.

9:20 a.m.: Sensex rose over 100 points while the 50-share Nifty moved above its crucial psychological level of 8,500 on the back of broad-based buying amid strong global cues.

As of 9:19 a.m., the Sensex traded 99 points higher at 27,725 and Nifty advanced 26 points to 8,494.

Meanwhile, Asian stocks rose to a 2-1/2-month peak on Tuesday, a day after Wall Street shares hit a record high thanks to a combination of upbeat U.S. data and expectations of more stimulus from global policymakers.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent to hit its highest level since late April.

Back home, buying was visible across the sectors in the opening deals with banking stocks leading the gains. The banking sub-index on the NSE, Bank Nifty was up 0.5 per cent or 89 points at 18,480.

Select FMCG, auto and metal stocks were also witnessing buying interest.

On the other hand, after yesterday’s 500-point rally, some profit-booking was seen in IT and pharma stocks.

From the Nifty basket, 36 stocks were advancing while 15 were declining.

Hindalco was the top Nifty gainer, up 3.2 per cent to Rs 133.15. Tata Motors, Axis Bank, Tata Steel, Maruti Suzuki, HDFC, ICICI Bank, ITC and Bank of Baroda were also among the gainers, up 0.6-1.7 per cent each.

At the same time, Coal India, Cipla, Tata power, Aurobindo Pharma, TCS and Infosys were among the notable laggards.

The broader markets were mostly in-line with the benchmark indices. The BSE mid-cap and small-cap indices were up 0.5 and 0.36 per cent each respectively.

7:55 a.m.: Sensex is set for a positive start while the broader Nifty is likely to move above its crucial psychological level of 8,500 tracking gains on Nifty futures traded on Singapore Stock Exchange amid firm global cues.

The Nifty futures traded on the Singapore Stock Exchange also know an as the SGX Nifty was up 0.39 per cent or 33 points at 8,521.

Meanwhile, other Asian markets were also trading firmly higher, a day after US shares hit a record high thanks to a combination of upbeat U.S. data and expectations of more stimulus around the world.

Japan’s Nikkei surge 2.85 per cent, Hong Kong’s Hang Seng was up 0.7 per cent and Taiwan Weighted jumped 0.4 per cent.

Overnight,  the S&P 500 on Monday broke the record high it held for more than a year as upbeat economic data and low bond yields continued to funnel investors into U.S. equities.

The Dow Jones industrial average rose 80.19 points, or 0.44 per cent, to 18,226.93, the S&P 500 added 7.26 points, or 0.34 per cent, to 2,137.16 and the Nasdaq Composite gained 31.88 points, or 0.64 per cent, to 4,988.64.

Back home, foreign institutional investors bought shares worth Rs 1,055.8 crore while domestic institutional investors sold shares worth Rs 610.57 crore on Monday.