MARKETS ON THURSDAY: Indices end higher, Sensex up 96 points; metals rise
Benchmark indices ended higher on Thursday on the back of gains in metal stocks
 "Bonds, Stock markets, Shares, Trading")
Bonds, Stock markets, Shares, Trading
Benchmark indices ended higher on Thursday on the back of gains in metal stocks as global aluminium prices soared, while the country’s biggest software services exporter, Tata Consultancy Services, rose ahead of its results.
The NSE metal index jumped as much as 4.2% as aluminium prices on the London Metal Exchange surged 5% to their highest in almost seven years on Thursday.
Investors cheered March-quarter results of IT firm Mindtree, sending the shares to their all-time high, while cement maker ACC climbed to a five-week high after reporting a 19% jump in quarterly profit late Wednesday.
In the global markets, resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014 and ignited a rally across commodities, though the potential boost to inflation globally also put some pressure on fixed-income assets.
Resource stocks were the big winners driving Australia's main index up 0.6 per cent. Japan's Nikkei gained 0.6 per cent, led by a 2.9 per cent rise in basic materials. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.8 per cent, with energy up over 2 per cent.
(with wire inputs)
3:41 PM
Nifty Metal Index ends 4.52% higher. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
| HIND.COPPER | 80.00 | 71.40 | 8.60 | 12.04 |
| HINDALCO INDS. | 264.50 | 242.80 | 21.70 | 8.94 |
| NATL. ALUMINIUM | 87.10 | 80.15 | 6.95 | 8.67 |
| VEDANTA | 310.45 | 291.10 | 19.35 | 6.65 |
| WELSPUN CORP | 151.75 | 143.25 | 8.50 | 5.93 |
3:37 PM
Sectoral Performers
3:36 PM
BSE Sensex: Tata Steel, Yes Bank among top gainers, Axis Bank top loser
3:32 PM
Market at close
The S&P BSE Sensex ended at 34,427, up 96 points while the broader Nifty50 index settled at 10,565, up 39 points.
3:26 PM
Idea Cellular hits 52-week low; stock falls 35% in 2018
Idea Cellular hit a 52-week low of Rs 70, down 2% on the BSE, on concerns of delay in merger between the company and Vodafone India.
The stock of telecom services provider trading at its lowest level since January 20, 2017, has fallen 35% thus far in the current calendar year 2018. READ MORE
3:15 PM
Vedanta's Electrosteel buy is value-accretive; move to buoy earnings
Mining major Vedanta has taken a step towards adding steel to its armoury, which is expected to buoy its value and earnings.
With the company’s resolution plan for acquisition of Electrosteel Steels being approved by the National Company Law Tribunal, Vedanta will be acquiring a 90 per cent stake in the latter. READ MORE
3:00 PM
EARNINGS HDFC life Q4 PAT up 24% at Rs 11 billion in FY18; total premiums rise 21%
HDFC Standard Life Insurance Company Ltd (HDFC Life) has posted net profit growth of 24 per cent for FY18 to Rs 11.1 billion, compared with Rs 8.9 billion in FY 17. New Business Premium for HDFC Life rose to Rs 113.5 billion for FY18, a 32 per cent increase from Rs 86.2 billion in FY17.
For the fourth quarter ended March 31, 2018, the company’s net profit rose 40.4 per cent to Rs 3.5 billion as compared to the same quarter last fiscal. READ MORE
IMPACT
IMPACT
2:46 PM
EARNINGS IMPACT ACC climbs to 5-week high on strong Q4 earnings
Shares of cement maker ACC climb as much as 3% to Rs 1,620, highest since March 14 in intra-day trade today on strong Q4 results.
Company said on Wednesday its March-quarter profit rose 19% to Rs 2.5 billion. ACC reported better-than-expected quarter as cost pressure from high petroleum coke prices, higher freight was not fully reflected.
2:33 PM
EARNINGS IndusInd Bank Q4 profit jumps 27 per cent
IndusInd Bank Ltd posted a nearly 27 per cent surge in its fourth-quarter net profit on Thursday, driven by higher interest income.
Net profit climbed to Rs 9.53 billion ($144.9 million) in the quarter ended March 31, from Rs 7.52 billion a year ago, IndusInd Bank, the country’s sixth-largest private lender by assets, said.
2:16 PM
Midhani zooms 82% in 7 days post signing of 2 pacts in Defexpo India 2018
Shares of Mishra Dhatu Nigam (Midhani) are locked in upper circuit of 10% for the second straight day, rising to Rs 169 per share on the BSE after the company said it has signed two pacts in Defexpo India-2018. READ MORE
2:00 PM
Market Check
| S&P BSE Sensex | 34,401.93 | 0.20% | |
| Nifty 50 | 10,557.70 | 0.30% | |
| S&P BSE 200 | 4,646.18 | 0.34% | |
| Nifty 500 | 9,346.50 | 0.37% | |
| S&P BSE Mid-Cap | 16,847.26 | 0.47% | |
| S&P BSE Small-Cap | 18,141.58 | 0.42% | |
1:47 PM
Gold gains as metals rally sparks inflation concerns
Gold prices rose for a fifth straight session helped by a rally in base metals that has fuelled concerns of inflationary pressures, with lingering U.S.-China trade tensions lending further support to the yellow metal.
Spot gold was up 0.2 percent to $1,351.51 per ounce at 0441 GMT, a day after it touched a one-week high of $1355.74.
1:34 PM
Unilever stands by outlook after first quarter meets expectations
Unilever, the Anglo-Dutch consumer goods giant, reported first-quarter sales figures that met expectations, helped mainly by increases in the volume of products sold, and maintained its full-year outlook, Reuters reported.
Unilever undertook a deep review of its business and structure last year after fending off an unwanted $143 billion takeover offer from Kraft-Heinz . The decision to sell its struggling spreads business also came from that review.
1:16 PM
Top gainers on BSE500
| COMPANY | PRICE() | CHG() | CHG(%) | VOLUME |
|---|---|---|---|---|
| HIND.COPPER | 81.10 | 9.65 | 13.51 | 2927544 |
| NATL. ALUMINIUM | 87.45 | 7.25 | 9.04 | 3992564 |
| TAKE SOLUTIONS | 211.05 | 16.75 | 8.62 | 197988 |
| MMTC | 67.70 | 4.90 | 7.80 | 1162932 |
| BASF INDIA | 2139.90 | 135.35 | 6.75 | 2596 |
1:00 PM
Fortis investors call meet, demand removal of four directors from its board
In a new twist to the Fortis hospital takeover saga, two large portfolio investors have demanded replacement of the existing board. East Bridge Capital Master Fund and Jupiter India fund, which own over 12 per cent shares in Fortis Healthcare, served a notice on Wednesday for holding of an extraordinary general meeting to select new members READ MORE
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First Published: Apr 19 2018 | 3:30 PM IST
