MARKET WRAP: Nifty gains 1%, ends above 10,600; auto, metal stocks gain
Benchmark indices rose on Friday after rupee recovered from its a 16-month low against the dollar.
 "markets, stock")
Benchmark indices rose on Friday after rupee recovered from its a 16-month low against the dollar.
The S&P BSE Sensex ended at 34,925, up 262 points, while the broader Nifty50 index settled at 10,605, up 91 points
Among sectoral indices, the Nifty Metal index gained over 2% led by a rise in Hindalco, SAIL, JSPL and Tata Steel. The Nifty Auto index also rose over 1% led by Exide Industries and Tata Motors.
In individual stocks, Tata Consultancy Services (TCS) , the country's biggest software services exporter, became the first Indian company. which saw its market capitalisation (market-cap) cross Rs 7-trillion mark.
Multi Commodity Exchange of India (MCX) rallied 8% on the BSE after reports suggested that the company has entered into merger talks with the National Stock Exchange (NSE) ahead of the implementation of the universal exchange framework in October.
The S&P BSE Sensex ended at 34,925, up 262 points, while the broader Nifty50 index settled at 10,605, up 91 points
Among sectoral indices, the Nifty Metal index gained over 2% led by a rise in Hindalco, SAIL, JSPL and Tata Steel. The Nifty Auto index also rose over 1% led by Exide Industries and Tata Motors.
In individual stocks, Tata Consultancy Services (TCS) , the country's biggest software services exporter, became the first Indian company. which saw its market capitalisation (market-cap) cross Rs 7-trillion mark.
Multi Commodity Exchange of India (MCX) rallied 8% on the BSE after reports suggested that the company has entered into merger talks with the National Stock Exchange (NSE) ahead of the implementation of the universal exchange framework in October.
GLOBAL MARKETS
Global shares were on the mend on Friday as Pyongyang’s measured response to US President Donald Trump’s announcement to call off a key summit with North Korea healed market sentiment, although investors remained cautious.
North Korean Vice Foreign Minister Kim Kye Gwan said Pyongyang still hoped for a “Trump formula” to resolve the standoff over its nuclear weapons programme, noting that the country was open to resolving issues with the United States.
MSCI’s broadest index of Asia-Pacific shares outside Japan managed to eke out 0.1% gains, while South Korea’s Kospi pared much of its earlier loss of 0.9% to last trade down 0.2%. Japan’s Nikkei was up 0.1%.
(with Reuters inputs)
3:39 PM
Top gainers in the Nifty Auto index
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) | VOLUME |
|---|---|---|---|---|---|
| EXIDE INDS. | 257.35 | 243.35 | 14.00 | 5.75 | 1888498 |
| TVS MOTOR CO. | 565.10 | 542.55 | 22.55 | 4.16 | 1654489 |
| BHARAT FORGE | 666.20 | 642.50 | 23.70 | 3.69 | 1104923 |
| MOTHERSON SUMI | 312.45 | 301.60 | 10.85 | 3.60 | 5387805 |
| APOLLO TYRES | 282.00 | 272.60 | 9.40 | 3.45 | 1420758 |
| EICHER MOTORS | 30200.00 | 29515.40 | 684.60 | 2.32 | 31929 |
3:37 PM
Nifty Metal index gains over 2%: Top gainers in the pack
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) | VOLUME |
|---|---|---|---|---|---|
| HINDALCO INDS. | 245.05 | 234.10 | 10.95 | 4.68 | 15143154 |
| WELSPUN CORP | 136.70 | 130.80 | 5.90 | 4.51 | 206370 |
| S A I L | 72.65 | 69.90 | 2.75 | 3.93 | 8792139 |
| JSW STEEL | 326.00 | 314.15 | 11.85 | 3.77 | 5182029 |
| TATA STEEL | 567.75 | 548.20 | 19.55 | 3.57 | 8886184 |
| JINDAL STEEL | 235.60 | 227.65 | 7.95 | 3.49 | 7281781 |
3:35 PM
Sectoral Trend
3:34 PM
Top Sensex gainers and losers
3:32 PM
Market at Close
The S&P BSE Sensex ended at 34,925, up 262 points, while the broader Nifty50 index settled at 10,605, up 91 points
The S&P BSE Sensex ended at 34,925, up 262 points, while the broader Nifty50 index settled at 10,605, up 91 points
3:23 PM
Global Markets: Shares recover as North Korea's conciliatory stance calms nerves
Global shares were on the mend on Friday as Pyongyang’s measured response to US President Donald Trump’s announcement to call off a key summit with North Korea healed market sentiment, although investors remained cautious.
MSCI’s broadest index of Asia-Pacific shares outside Japan managed to eke out 0.1% gains, while South Korea’s Kospi pared much of its earlier loss of 0.9% to last trade down 0.2%. Japan’s Nikkei was up 0.1%.
(With inputs from Reuters)
(With inputs from Reuters)
3:14 PM
Volume Toppers
» More on Most Active Volume
| COMPANY | PRICE() | CHG() | CHG(%) | VOLUME |
|---|---|---|---|---|
| SUZLON ENERGY | 9.10 | 0.04 | 0.44 | 17033321 |
| REL. COMM. | 14.35 | 0.20 | 1.41 | 8260940 |
| IFCI | 18.90 | 2.05 | 12.17 | 4348325 |
| IDBI BANK | 64.70 | -2.50 | -3.72 | 4063919 |
| JP ASSOCIATES | 15.85 | 0.20 | 1.28 | 3121064 |
3:06 PM
Stocks at 52-week high
» More on 52 Week High
| COMPANY | PRICE() | 52 WK HIGH | CHG() | CHG(%) |
|---|---|---|---|---|
| BAJAJ FINSERV | 6047.40 | 6073.65 | 213.80 | 3.66 |
| BERGER PAINTS | 297.60 | 299.60 | 4.80 | 1.64 |
| BRITANNIA INDS. | 5825.55 | 5850.00 | 111.90 | 1.96 |
| INFOSYS | 1230.55 | 1248.00 | 8.70 | 0.71 |
| JUBILANT FOOD. | 2660.15 | 2694.50 | 9.65 | 0.36 |
3:00 PM
Gateway okays acquisition of Blackstone stake in arm; stock up 20%
Gateway Distriparks is locked in upper circuit of 20% at Rs 199 on the BSE after the company said its board approved the acquisition of entire shareholding held by Blackstone in Compulsorily Convertible Preference Shares (CCPS) and equity shares in Gateway Rail Freight for a total consideration of Rs 8.10 billion.
The acquisition of entire shareholding will take Gateway Distriparks holding in Gateway Rail Freight to 99.80%. READ MORE
2:44 PM
Europe Check
European stocks are trading higher, as market participants' fears were calmed by North Korea's response to President Donald Trump's decision to cancel a landmark summit. The pan-European Stoxx 600 was up around 0.4%, with almost all sectors and major bourses in positive territory
2:30 PM
IFCI recovers Rs 2.8 bn from Bhushan Steel, allotted over 579,000 shares
Infrastructure lender IFCI has recovered Rs 2.80 billion and has been allotted over 579000 equity shares of debt-ridden Bhushan Steel (BSL), which has been acquired by Tata Steel, under the insolvency process.
"IFCI as one of the financial creditors to BSL had filed its claim with the resolution professional which was duly accepted. Under the resolution plan (RP) envisaging payment of Rs 352 billion to all the financial creditors, IFCI has since received its share of Rs 2.80 billion," IFCI said in a BSE filing. READ MORE
2:16 PM
As Singapore and India fight over futures trading, investors' worries grow
A fight between Singapore Exchange and National Stock Exchange of India over derivatives contracts is threatening to end a popular way of hedging Indian shares.
The battle, which went to court in Mumbai this week, has left traders scrambling to find new ways to manage their exposure to the US$2.3 trillion market, one of Asia's biggest.
The dispute broke into the open in February after NSE said it was axing licensing agreements with overseas bourses. READ MORE
2:01 PM
Market Check
| S&P BSE Sensex | 34,918.97 | 0.74% | |
| Nifty 50 | 10,600.50 | 0.82% | |
| S&P BSE 200 | 4,600.81 | 1.01% | |
| Nifty 500 | 9,203.25 | 0.96% | |
| S&P BSE Mid-Cap | 15,867.68 | 1.32% | |
| S&P BSE Small-Cap | 17,120.59 | 0.98% | |
1:45 PM
Avenue Supermarts extends gain as founder RK Damani completes 1% stake sale
Shares of Avenue Supermarts that runs the D-Mart retail stores was trading higher by 5% at Rs 1,476, extending its Thursday’s 3.3% gain on the BSE, after the founder Radhakishan Damani completed sale of 6.24 million shares, or 1%, of total equity of the company for achieving minimum public share holding.
“Radhakishan Shivkishan Damani has completed sale of 6.24 million equity shares of the Company, constituting 1% of the paid-up equity share capital of the Company, between May 21, 2018 and May 24, 2018,” Avenue Supermarts said in a BSE filing. READ MORE
1:30 PM
From hope to happiness: Analysts find SBI's FY20 plan credible
State Bank of India (SBI) seems to be taking the Rs 77.18-billion loss in the March 2018 quarter in its stride with the bank’s chairman Rajnish Kumar expecting better days ahead. “The year gone by was one of despair, the current year is one of hope and 2019-20 will be the year of happiness,” Kumar said.
He expects gains from higher credit growth, robust financial profile and control on costs. READ MORE
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First Published: May 25 2018 | 3:30 PM IST
