MARKET WRAP: Sensex ends 125 pts higher, Nifty at 11,036; PSBs, autos gain

All that happened in the markets today

Benchmark indices ended Wednesday's range-bound session higher, lifted by public sector banks and metal stocks, thus extending their gains to three straight days.

The S&P BSE Sensex added 125 points or 0.34 per cent to settle at 37,271.  YES Bank (up 13 per cent), Tata Motors (up 10%), Maruti Suzuki India (up 4%), Tata Steel (up 4%), and Vedanta (up 3 per cent) were the top gainers in the Sensex pack. About 1,845 shares advanced, 777 shares declined, and 153 shares remained unchanged on the BSE. 

On NSE, the Nifty50 index settled at 11,036, up 33 points or 0.3 per cent.

Majority of the Nifty sectoral indices ended higher. Nifty Realty index was up 4 per cent while Nifty PSU Bank and Nifty Auto indexes were up over 3 per cent each. On the other hand, Nifty IT index dipped 1 per cent.

in the broader market, the S&P BSE MidCap index surged 140 points, or 1.04 per cent, to 13,635, while the S&P BSE SmallCap index settled at 12,892, up 182 points, or 1.43 per cent.

GLOBAL MARKETS

World stocks rose for the sixth straight day on Wednesday and bond prices fell as investors continued to unwind safety bets, encouraged by hopes of a resolution to the Sino-U.S. trade standoff and signs Europe may be preparing to ease budget spending rules.

In Europe, Euro zone stocks were up 0.5 per cent, with investors piling into banks, miners, and auto parts shares for a second day. Germany's trade-sensitive DAX's rose 0.6 per cent, while London's FTSE 100 jumped 0.9 per cent.

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Contributions to S&P BSE Sensex's gain today

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Broader indices outperform

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Key indices on BSE

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Sensex heatmap

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CLOSING BELL

The S&P BSE Sensex gained 125 points or 0.34 per cent to settle at 37,271, while NSE's Nifty50 index ended at 11,036, up 33 points or 0.3 per cent.

3:29 PM

ALERT :: Hong Kong Exchange makes surprise $36.6 billion bid for LSE

Hong Kong Exchanges and Clearing Ltd. made an unexpected bid for London Stock Exchange Group Plc, which could potentially throw the European exchange’s own transformative deal into jeopardy.
 

The transaction values one of Europe’s largest exchanges at 29.6 billion pounds ($36.6 billion), according to a HKEX a statement Wednesday. The Asian bourse operator had considered the ‘ambitious and far-reaching’ deal for many months, HKEX Chief Executive Officer Charles Li said.

3:29 PM

Wockhardt hits 20% upper circuit

3:11 PM

Maruti Suzuki India up 3%

3:02 PM

NEWS ALERT | ICRA cuts rating of Coffee Day Enterprises Ltd's long-term loans to 'D': CNBC TV18

3:00 PM

Buzzing stock | Oberoi Realty surges 10%

2:59 PM

Realty stocks gain

2:54 PM

NEWS ALERT | PSBs unlikely to be part of strategic divestment this year: sources to ET Now

-- Fin MIn has sent divestment proposal to PMO seeking urgent approval

-- Decision on new ETF basket only after cabinet nod for selling below 51% in PSU

-- Fin Min seeks cabinet nod for PSUs to be divested this year

-- SPVs of PSUs with land and non-core assets to be candidates for divestment

2:49 PM

BUZZING STOCK:: Balrampur Chini Mills surges over 12%

2:46 PM

NEWS ALERT | Tata Metaliks' Kharagpur unit to undergo maintenance shutdown, effective September 12: CNBC TV18

2:45 PM

Rupee fall may not prop up margins of IT cos, attrition, pricing to weigh

The Nifty IT index has outperformed the Nifty 50 in the past one month and is currently near its two-month highs, thanks to a weak rupee, which fell by a sharp 99 paise against the US dollar last Tuesday. A weak rupee typically provides near-term support to margins of information technology (IT) companies. Analysts estimate that margins tend to gain by 20-25 basis point for every 1 per cent depreciation of the rupee against the US dollar. However, this time, it may be too early to think about any likely margin improvement. READ MORE