Shares rise on positive global cues

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Capital Market
Last Updated : Sep 21 2018 | 9:31 AM IST

Key benchmark indices were trading higher in early trade, tracking positive leads from Asian markets and overnight gains on the Wall Street. At 9:17 IST, the barometer index, the S&P BSE Sensex, was up 209.15 points or 0.56% at 37,330.37. The Nifty 50 index was up 74.60 points or 0.66% at 11,308.95.

Among secondary barometers,the BSE Mid-Cap index was up 0.76%. The BSE Small-Cap index was up 0.52%.

The market breadth, indicating the overall health of the market, was positive. On BSE, 776 shares rose and 263 shares fell. A total of 56 shares were unchanged.

Overseas, Asia markets traded in positive territory on the final trading day of the week, following record highs on Wall Street. Japan's Nikkei 225 advanced by 0.63%. The moves came following after a data release earlier showed that the country's nationwide core consumer price index for the month of August rose 0.9% compared to a year ago.

In US, trade-sensitive industrial stocks led the gains on Thursday. The Dow Jones Industrial Average 0.95% while the S&P 500 gained 0.78%, both hitting record highs.

The latest rally comes after new US and Chinese tariffs on each other's goods were set at lower rates this week than previously expected, raising hopes that hostilities between the world's two largest economies may be easing. Despite the trade risks, the outlook on corporate profit remained solid in many markets on the back of strong global growth, keeping equity valuations relatively attractive.

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Back home, NBCC (India) was up 2.09%. The company said it secured total business of approximately Rs 921.67 crore in August 2018. The announcement was made after market hours on 19 September 2018.

Dilip Buildcon was up 2.40%. The company said it has been declared L-1 bidder for Indore Metro Rail project, Phase-I, valued at Rs 228.96 crore by the Madhya Pradesh Metro Rail Co., Urban Administration and Development Department, Bhopal (M.P). The announcement was made on 20 September 2018.

Yes Bank was down 18.56%. The bank said it received the Reserve Bank of India (RBI)'s letter stating that Rana Kapoor can continue to be the bank's managing director and CEO till 31 January 2019. The board of directors of the bank will meet on 25 September 2018 to decide on the future course of action. The announcement was made after market hours on 19 September 2018.

ICICI Bank was up 2.66%. The bank informed that the committee of executive directors constituted by the board of the bank is scheduled to meet on 24 September 2018 to consider offshore fund raising in single/multiple tranches in any currency through public/private placement by way of issuances of debt instruments, certificate of deposits etc. for the remaining period of financial year 2018-2019. The announcement was made after market hours on 19 September 2018.

ITC was up 0.83%. The company announced that on 19 September 2018, the company took possession of the property known as Park Hyatt Goa Resort & Spa located at 263-C Arossim, Cansaulim, Goa. The announcement was made on 20 September 2018.

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First Published: Sep 21 2018 | 9:18 AM IST

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