 "Markets extend gains; Sensex up 300 points")
Markets extended gains in late trades with financials leading the gains after SBI reported lower-than-expected rise in bad loans during the June quarter.
At 2:50pm, the S&P BSE Sensex was up 322 points at 28,185 and the Nifty50 was up 83 points at 8,675.
SBI was up 8% after the state-owned bank reported lower-than-expected rise in bad loans during the June quarter.
Sun Pharma was trading flat despite better-than-expected earnings during the June quarter.
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(updated at 12:50pm)
Markets continued to trade firm in noon trades with State Bank of India gaining the most after the PSU bank reported lower-than-expected rise in bad loans during the June quarter.
At 12:50pm, the S&P BSE Sensex was up 293 points at 28,152 and the Nifty50 was up 75 points at 8,667.
SBI was up 9% after the state-owned bank reported lower-than-expected rise in bad loans during the June quarter.
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(updated at 12pm)
Markets continued to trade firm in noon trades even as profit taking in IT major Infosys shaved off some of the early gains.
At 12pm, the S&P BSE Sensex was up 236 points at 28,096 and the Nifty50 was up 63 points at 8,655.
In the broader market, the BSE Midcap and Smallcap indices were up 0.4%-0.7% each.
Among the index heavyweights HDFC and ITC were up 1% each followed by Reliance Industries which gained 2%.
SBI was trading flat with positive bias ahead of its results later today.
Grasim pared early losses and was trading flat while Aditya Birla Nuvo was down nearly 18%. Kumar Mangalam Birla, chairman of Aditya Birla Group, on Thursday announced the merger of Aditya Birla Nuvo (ABNL) with Grasim Industries.
Auto component major Bosch was down over 2% after posting lower-than-expected June quarter earnings. The company posted a net profit of Rs 379 crore for the June quarter against expectations of Rs 383 crore.
Among other shares, shares of Mafatlal Group companies such as Mafatlal Industries, Navin Fluorine International and Nocil have rallied up to 10% in intra-day trade on the BSE on the back of heavy volumes.
Alkem Laboratories was up 2% to Rs 1,625 on BSE after the pharmaceutical company announced the successful US drug regulator inspection at its bioequivalence facility at Taloja, Maharashtra. The stock is trading at its highest level since listing in December last year.
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(updated at 9:35am)
Markets opened higher on Friday tracking gains in their Asian peers and US stocks hitting fresh record highs in overnight trades.
At 9:35am, the S&P BSE Sensex was up 230 points at 28,088 and the Nifty50 was up 61 points at 8,650.
Foreign institutional investors continued to remain buyers in equities with net purchases of Rs 608 crore on Thursday, as per provisional stock exchange data.
Aditya Birla Nuvo plunged nearly 20% while Grasim dropped over 3% after Kumar Mangalam Birla, chairman of Aditya Birla Group, on Thursday announced the merger of Aditya Birla Nuvo (ABNL) with Grasim Industries. (For detailed report please click here).
GLOBAL MARKETS
Asia markets edged higher on Friday tracking sharp gains in US stocks which hit fresh record highs in overnight trades. Japanese shares gained the most on the back of a weaker yen and ahead of GDP data on Monday with the benchmark Nikkei up 0.7% while Shanghai Composite was up 0.3% and Hang Seng rose 0.7%. However, shares in Singapore witnessed profit taking after gains in the previous session. The benchmark Straits Times was trading flat with negative bias
All benchmark US stock indices, the Dow Jones industrial average, S&P 500 and Nasdaq, hit fresh record highs together for the first time on Thursday since 1999 on the back of uptick in global crude oil prices. The Dow Jones industrial average ended up 0.6% at 18,614, S&P 500 gained 0.5% at 2,186 and the Nasdaq closed 0.5% higher at 5,228.
At 2:50pm, the S&P BSE Sensex was up 322 points at 28,185 and the Nifty50 was up 83 points at 8,675.
SBI was up 8% after the state-owned bank reported lower-than-expected rise in bad loans during the June quarter.
Sun Pharma was trading flat despite better-than-expected earnings during the June quarter.
__________________
(updated at 12:50pm)
Markets continued to trade firm in noon trades with State Bank of India gaining the most after the PSU bank reported lower-than-expected rise in bad loans during the June quarter.
At 12:50pm, the S&P BSE Sensex was up 293 points at 28,152 and the Nifty50 was up 75 points at 8,667.
SBI was up 9% after the state-owned bank reported lower-than-expected rise in bad loans during the June quarter.
___________________
(updated at 12pm)
Markets continued to trade firm in noon trades even as profit taking in IT major Infosys shaved off some of the early gains.
At 12pm, the S&P BSE Sensex was up 236 points at 28,096 and the Nifty50 was up 63 points at 8,655.
In the broader market, the BSE Midcap and Smallcap indices were up 0.4%-0.7% each.
Among the index heavyweights HDFC and ITC were up 1% each followed by Reliance Industries which gained 2%.
SBI was trading flat with positive bias ahead of its results later today.
Grasim pared early losses and was trading flat while Aditya Birla Nuvo was down nearly 18%. Kumar Mangalam Birla, chairman of Aditya Birla Group, on Thursday announced the merger of Aditya Birla Nuvo (ABNL) with Grasim Industries.
Auto component major Bosch was down over 2% after posting lower-than-expected June quarter earnings. The company posted a net profit of Rs 379 crore for the June quarter against expectations of Rs 383 crore.
Among other shares, shares of Mafatlal Group companies such as Mafatlal Industries, Navin Fluorine International and Nocil have rallied up to 10% in intra-day trade on the BSE on the back of heavy volumes.
Alkem Laboratories was up 2% to Rs 1,625 on BSE after the pharmaceutical company announced the successful US drug regulator inspection at its bioequivalence facility at Taloja, Maharashtra. The stock is trading at its highest level since listing in December last year.
_______________________
(updated at 9:35am)
Markets opened higher on Friday tracking gains in their Asian peers and US stocks hitting fresh record highs in overnight trades.
At 9:35am, the S&P BSE Sensex was up 230 points at 28,088 and the Nifty50 was up 61 points at 8,650.
Foreign institutional investors continued to remain buyers in equities with net purchases of Rs 608 crore on Thursday, as per provisional stock exchange data.
Aditya Birla Nuvo plunged nearly 20% while Grasim dropped over 3% after Kumar Mangalam Birla, chairman of Aditya Birla Group, on Thursday announced the merger of Aditya Birla Nuvo (ABNL) with Grasim Industries. (For detailed report please click here).
Financials were among the top gainers led by Axis Bank which gained over 2% followed by HDFC and Yes Bank among others.
Other gainers include, ITC, L&T, Reliance Industries and Tata Motors among others.
Among other shares, Rane Engine Valve has surged 20% to Rs 551, also its 52-week high on the BSE in early morning trade after the company announced the sale of part of its land in Alandur, Chennai at a market value of Rs 94.82 crore.
GLOBAL MARKETS
Asia markets edged higher on Friday tracking sharp gains in US stocks which hit fresh record highs in overnight trades. Japanese shares gained the most on the back of a weaker yen and ahead of GDP data on Monday with the benchmark Nikkei up 0.7% while Shanghai Composite was up 0.3% and Hang Seng rose 0.7%. However, shares in Singapore witnessed profit taking after gains in the previous session. The benchmark Straits Times was trading flat with negative bias
All benchmark US stock indices, the Dow Jones industrial average, S&P 500 and Nasdaq, hit fresh record highs together for the first time on Thursday since 1999 on the back of uptick in global crude oil prices. The Dow Jones industrial average ended up 0.6% at 18,614, S&P 500 gained 0.5% at 2,186 and the Nasdaq closed 0.5% higher at 5,228.