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Sensex, Nifty end higher for fourth straight session; Infosys gains 3%

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SI Reporter New Delhi

Last Updated : Aug 28 2017 | 4:03 PM IST

Key Events

4:03 PM

Analyst View
 
Jayant Manglik, President, Retail Distribution at Religare Securities: Nifty gained over half a percent today amid volatility. It opened with an uptick and remained range bound thereafter due to lack of follow-up buying. The prevailing dullness in our markets can be attributed to the recently concluded earnings season, which failed to cheer the participants at large. And now, the anxiety of derivatives expiry has taken over. 
 
Things would be clear by the end of this week. Meanwhile, focus on risk management aspect and keep a close on upcoming data viz. GDP, auto sales for further cues. 

3:47 PM

Infosys top gainer

Infosys shares ended 3% higher after earlier rising as much as 4.6% on hopes that the appointment would provide some much needed stability to the company that has been reeling since the shock resignation of Chief Executive Vishal Sikka, who waged an acrimonious battle with the founders for months over alleged corporate governance lapses.


3:45 PM

Sectoral index chart

PSU Bank was the only index that ended in red on NSE. 

Source: NSE

3:42 PM

IT stocks led the gains. The Nifty IT index rose as much as 1.3%, gaining for a fourth straight session. It ended 0.8% higher.

Source: NSE

3:39 PM

Top gainers and losers on BSE Sensex

Source: BSE



3:34 PM

Broader Markets

Broader makrets outperformed benchmark indices with BSE Midcap and BSE Smallcap rising over 1% each

3:33 PM

Markets at close

Benchmark indices ended higher on Monday, gaining for a fourth consecutive session of gains, as index heavyweight Infosys surged on the first day of trading since the appointment of co-founder Nandan Nilekani as chairman on hopes that the move would help defuse a months-long row between the founders and the board.
 
The S&P BSE Sensex ended at 31,751, up 155 points while the broader Nifty50 index was ruling at 9,912, up 55 points.

3:30 PM

India Inc on record fundraising spree; Rs 62,000-crore IPOs filed with Sebi READ THE STORY HERE

3:24 PM

BUZZING STOCK

Dr Reddy's Laboratories fell over 2% after it said that a law firm representing an investor filed a class action lawsuit in New Jersey against the company, its CEO and CFO.


3:16 PM

DLF extends fall

Realty major DLF fell nearly 5% despite the audit committee approved the deal between the company and GIC for stake sale in rental arm DLF Cyber City Developers.


3:08 PM

Oil Check

Oil markets were roiled on Monday after Hurricane Harvey wreaked havoc along the US Gulf coast over the weekend, knocking out numerous refineries and some crude production.
 
Gasoline prices hit two-year highs as massive floods caused by the storm forced refineries across the US Gulf Coast to shut down.
 
In crude markets, Brent futures were pushed up by pipeline blockades in Libya, but US crude futures eased as the US refinery shutdowns could reduce demand for American crude.

3:07 PM

Europe Check

European shares fell on Monday in a broad sell-off as the euro strengthened after ECB chief Mario Draghi did not express concern about a strong currency in a closely watched speech.
 
While London was closed for a holiday, reducing activity, the broad STOXX index for euro zone stocks fell as much as 0.7% to a two-week low.

2:56 PM

Broader Markets

Broader makrets outperformed benchmark indices with BSE Midcap and BSE Smallcap rising 0.8% and 1% respectively

2:48 PM

Market Check

Benchmark indices continued to hold the morning gains led mainly by gaind in index heavyweight Infosys after Nandan Nilekani returned to take stock of teh situation in the company.

At 2:47 pm, the S&P BSE Sensex was trading at 31,769, up 173 points while the broader Nifty50 index was ruling at 9,911, up 54 points.

2:31 PM

Nestle India touched a one-month high after it reassured investors that it would focus on driving volume growth through new product launches, and Credit Suisse upgraded it to "outperform". 


Benchmark indices ended higher on Monday, gaining for a fourth consecutive session of gains with Nifty settling above 9,900, as index heavyweight Infosys surged on the first day of trading since the appointment of co-founder Nandan Nilekani as chairman on hopes that the move would help defuse a months-long row between the founders and the board.

Infosys shares ended 3% higher after earlier rising as much as 4.6% on hopes that the appointment would provide some much needed stability to the company that has been reeling since the shock resignation of Chief Executive Vishal Sikka, who waged an acrimonious battle with the founders for months over alleged corporate governance lapses.

Globally, European shares fell in a broad sell-off as the euro strengthened after ECB chief Mario Draghi did not express concern about a strong currency in a closely watched speech.

First Published: Aug 28 2017 | 3:30 PM IST