Benchmark indices rose more than 1 per cent on Thursday after seven consecutive sessions of declines, as market heavyweights such as Infosys recovered and as drug maker Cipla gained on solid earnings.
The S&P BSE Sensex ended at 34,413, up nearly 330 points while the broader Nifty50 index settled at 10,576, up around 100 points.
3:21 PM
Pharma shares in focus; Cipla, Sun Pharma surge over 5%
Shares of pharmaceutical companies were in focus with the Nifty Pharma index gaining nearly 4% on back of strong rally in Cipla and Cadila Healthcare post their December quarter results.
Among the pharma index, Cipla and Sun Pharmaceutical Industries have rallied more than 5% each, while Cadila Healthcare, Dr Reddy’s Laboratories and Divi’s Laboratories up in the range of 2% to 4% on the National Stock Exchange (NSE). READ MORE
3:13 PM
Earnings impact
Balrampur Chini shares declined 3 per cent as profit in quarter ended December 2017 fell sharply by 65 per cent to Rs 61.4 crore from Rs 175.2 crore in year-ago, impacted by disappointing operational performance.
Revenue from operations increased 6.9 per cent to Rs 1,001.9 crore in Q3FY18, compared to Rs 937 crore in same period last year.
3:00 PM
HeidelbergCement India surges 12% on strong Q3 results
HeidelbergCement India surged 12% to Rs 168 on BSE in afternoon deals after the company reported net profit of Rs 318 million for the quarter ended December 2017 (Q3FY18), on back of higher sales.
It had posted a net loss of Rs 36 million in the same quarter last fiscal.
Net sales during the quarter rose 24.8% to Rs 4,839 million against Rs 3,878 million in the corresponding quarter of previous year. READ MORE
Prestige, HDFC Capital to invest Rs 25 bn for affordable housing projects
Realty firm Prestige Estates Projects has partnered HDFC's arm HDFC Capital Advisors to set up Rs 25 billion (Rs 2,500 crore) fund to develop affordable and mid-income housing projects across the country.
This platform would enable Prestige group to develop projects worth Rs 100 billion (Rs 10,000 crore). READ MORE
2:13 PM
Sectoral Trend
2:09 PM
How you can smartly use the systematic exit route to avoid LTCG tax
The finance minister has in the Finance Bill, 2018 proposed to tax certain long-term capital gains that have so far been exempt from tax.
Currently, capital gains from transfer of equity shares in a company and a units of equity-oriented mutual fund schemes are exempt from tax, provided they have been held for more than one year prior to transfer. Equity shares should also have been subject to Security Transaction Tax (STT) in order to avail this exemption. In other words, long-term capital gains from the transfer of listed shares and units of an equity-oriented scheme are not subject to tax. CLICK HERE FOR FULL STORY
1:40 PM
HEG erases three-week loss in two days by surging 37% ahead of board meet
HEG has surged an over 10% to Rs 3,045 on BSE in intra-day trade, extending its Wednesday’s 20% rally ahead of board meeting today to consider either the interim dividend or proposal for buy back of equity shares of the Company.
The stock of the leading graphite electrode manufacturer has rallied 37% in past two trading sessions from Rs 2,215 on BSE. The BSE & NSE have revised the circuit filter of the stock from 5% to 20% with effect from Wednesday, February 7, 2018.
HEG erased its entire 30% decline recorded during three weeks in past two days. The stock hit an all-time high of Rs 3,147 on January 16, 2018 in intra-day trade. READ MORE
1:14 PM
Bank of England to send new rates message in last year before Brexit
The Bank of England is expected to say on Thursday that another interest rate increase could be nearing as Britain's economy grows faster than expected ahead of its departure from the European Union in just over a year's time READ MORE HERE
The indices ended higher on Thursday after the market heavyweights such as Infosys gained over 2%. The S&P BSE Sensex gained over 500 points to 34634 levels before trimming gains. In broader markets, Nifty50 index hit an intra-day high of 10,637 levels.
The S&P BSE Sensex ended at 34,413, up nearly 330 points while the broader Nifty50 index settled at 10,576, up around 100 points.
Among other index stocks, Sun Pharma, Dr. Reddy's, State Bank of India, Axis Bank and HDFC gained between 1.5% to 6.1%. Shares of Cipla surged as much as 6.85% after the country’s fourth-largest drugmaker by revenue reported a 7% jump in quarterly profit on Wednesday.
The day's gains came even as Asian shares flirted with six-week lows. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed as U.S. bond yields crept up towards four-year highs. Among regional indices, Nikkei 225, Straits Times, KOSPI and Hang Seng moved up between 0.4% to 1.2%.
 "Sensex ends 330 pts higher, Nifty above 10,550; IT, pharma, realty gain")
