MARKET WRAP: Sensex up 115 pts on positive global cues; auto stocks rally

All that happened in the markets today

Benchmark indices scaled fresh record highs amid a range-bound trade on Thursday supported by positive global cues. As per news agency Reuters, China unveiled a new list of tariff exemptions for US imports, mostly chemical products, days after the world’s two largest economies announced the Phase 1 deal. 

At the index level, the benchmark S&P BSE Sensex, which hit a fresh high of 41,698.43 in the intra-day deals, closed at 41,673.92 level, up 115.35 points or 0.28 per cent. YES Bank, TCS, Bharti Airtel, and Tata Motors, up between 2.6 and 6.4 per cent, were the top gainers among the Sensex pack, while Vedanta, HDFC, Sun Pharma, and IndusInd Bank were the top laggards.

On the NSE, the Nifty50 settled at 12,259.80-mark, up 38.15 points or 0.31 per cent. The index hit a record high of 12,268.35 level. Sectorally, Nifty Auto closed the day as the top performing index on the NSE, up over a per cent. On the downside, Nifty Financial Services slipped the most.

In the broader market, the mid and small caps settled the day with marginal gains. The S&P BSE mid and small-cap index closed 0.17 per cent and 0.06 per cent higher, respectively. 

GLOBAL MARKETS

Asian shares pulled back from a one-and-a-half year peak on Thursday as investors took some money off the table. Japan's Nikkei index closed 0.29 per cent lower, while Hong Kong's Hang Sang index slipped 0.3 per cent. South Korea's Kospi, meanwhile, added 0.08 per cent.

In Europe, shares edged higher with a pre-holiday lull making for a quiet trading session aside from a handful of corporate updates. The pan-European STOXX 600 rose 0.2% with media, healthcare and utilities sectors leading gains.

(With inputs from Reuters)

3:42 PM

Sectoral trends at NSE at close

3:41 PM

Sensex heatmap at close

3:41 PM

Closing Bell

>> At the index level, the benchmark S&P BSE Sensex, which hit a fresh high of 41,698.43 in the intra-day deals, closed at 41,673.92 level, up 115.35 points or 0.28 per cent.

>> On the NSE, the Nifty50 settled at 12,259.80-mark, up 38.15 points or 0.31 per cent. The index hit a record high of 12,268.35 level.

3:20 PM

NEWS ALERT | Suven Life gets EIR from US FDA for Pashamylaram unit: BSE filing

EIR for Pashamylaram unit indicates closure of the inspection

Alert: EOIR is Establishment Inspection Report

 

3:14 PM

NEWS ALERT | Want govt to make doing business easy: Sunil Bharti Mittal, reports CNBC TV18

3:05 PM

YES Bank declines on rating downgrade by India Ratings; rebounds later

Shares of YES Bank moved higher by 7.4 per cent to Rs 50.20, bouncing back nearly 12 per cent from its intra-day low of Rs 45, on the BSE on Thursday on the back of heavy volumes.

 

A combined 188 million equity shares have changed hands on the NSE and BSE till 02:30 pm. In comparison, the S&P BSE Sensex was up 0.31 per cent at 41,686 levels. READ MORE

2:50 PM

Tech view: Understanding double top and bottom patterns

Double top and bottom patterns are formed from consecutive rounding tops and bottoms. These patterns are often used in conjunction with other indicators in technical charting. A double top pattern is formed from two consecutive rounding tops.

 

The first rounding top forms an upside-down ‘U’ pattern. Rounding tops can often be an indicator for a bearish reversal, as they often occur after an extended bullish rally. If a double top occurs, the second rounded top will usually be slightly below the first rounded tops peak indicating resistance and exhaustion.  READ MORE

2:35 PM

$110 bn question: Who runs Tata Sons if SC backs tribunal on Cyrus Mistry

How do you unscramble an egg called Tata Sons? The second law of thermodynamics says orderly things gradually turn more chaotic, and there’s no going back, no separating yokes from whites.

 

But the appeals judge of India’s corporate law arbiter thinks he can reverse time. Or so it would appear from his order declaring that Cyrus Mistry, deposed three years ago as executive chairman of the holding company of India’s leading conglomerate, must be reinstated because ousting him was illegal. READ MORE

2:27 PM

Top gainers on the BSE at this hour

2:17 PM

Clariant Chemicals surges 12% as board approves restructuring plan

Shares of Clariant Chemicals (India) moved higher by 12 per cent to Rs 356 on the BSE on Thursday after the board approved the restructuring plan by sale of Masterbatch Business to PolyOne Polymers for Rs 426 crore. The stock of specialty chemicals was trading at its highest level since April 4, 2019.
 

“The board approved the sale of Masterbatch Business to PolyOne Polymers India or its affiliate in India, on a going concern basis by way of slump sale for total consideration of Rs 426 crore,” Clariant Chemicals said in a regulatory filing. READ MORE

2:05 PM

BUZZING STOCK | Torrent Power jumps 3%

2:01 PM

PNB Housing Finance slips nearly 2%

1:51 PM

Sector watch | Pharma stocks slip in trade; index down 0.5%

1:23 PM

NEWS ALERT | Lupin receives US FDA approval for Mycophenolic Acid Delayed-Release tablets USP: BSE filing

-- Approval for 180 mg and 360 mg tablets

1:17 PM

NEWS ALERT | SC rules in favour of Dalmia Bharat Cement Vs I-T Dept: CNBC TV18

-- Court says I-T dept should have allowed late filing that co made in 207 as the issue was pending in NCLT

 

Alert: Dalmia Bharat had claimed Rs 56 cr accumulated loss in 2016-17 while I-T dept disallowed filing citing delay