Markets shake off Korea tensions: Sensex ends 107 pts higher, Nifty at 9952

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3:53 PM

Analyst view

 

Anand James, Chief Market Strategist, Geojit Financial Services says: Domestic indices traded in a range during the early hours as the investors kept a cautious stance as tensions over Korea brewed. However the positivity from European peers reinstated buying interest during in the second half and with few domestic signals, markets will look up to global cues, especially central bank announcements.

3:42 PM

Nifty IT was one of the top sectoral gainers on NSE led by gains in Tech Mahindra, Just Dial, TCS and Tata Elxsi

3:40 PM

Nifty Realty up 1%

Source: NSE

3:38 PM

Sectoral Trend

Source: NSE

3:36 PM

Top gainers and losers on BSE Sensex

Source: BSE

3:34 PM

Broader Markets

Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap indices up 0.6% and 1% respectively

3:33 PM

Markets at Close

Benchmark indices ended higher as the Street shrugged off lingering concerns about the escalating North Korea crisis. The S&P BSE Sensex ended at 31,809, up 107 points while the broader Nifty50 index settled at 9,951, up 39 points

3:22 PM

Bank of Baroda keeps MCLR unchanged

 

Bank of Baroda rose 1.10% to Rs 138.25 on BSE after the bank said that it has decided to keep marginal cost of funds based lending rates unchanged. The stock had hit a high of Rs 138.65 and a low of Rs 136.05 so far during the day. 

3:13 PM

Oil Check

 

In commodity markets, US WTI oil prices edged higher, while US gasoline prices slumped to pre-Hurricane Harvey levels, as oil refineries and pipelines in the US Gulf Coast slowly resumed activity, easing supply concerns.

 

US West Texas Intermediate (WTI) crude futures ticked up 0.2% to trade at $47.38 per barrel, though global benchmark Brent prices barely budged at $52.37.

3:01 PM

Hotel Leela's clarification

Hotel Leelaventure today said there is no final agreement with any party to sell its Chennai hotel, though negotiations are on to sell the property in coordination with JM Financial.

 

The company has already received shareholders' nod for the 'sale of hotels in Delhi/Chennai' in September 2016, Hotel Leelaventure said in a filing to BSE.

 

The hospitality chain was reacting to a media report that Marigold Capital and Investments has agreed to buy the company's Chennai property.

 

2:52 PM

Dewan Housing gains

Dewan Housing rose 3.55% to hit its record high on sustained buying interest. On the BSE, 1.57 lakh shares were traded on the counter so far as against the average daily volumes of 2.36 lakh shares in the past one quarter. The stock had hit a high of Rs 539 so far during the day, which is a record high.

2:38 PM

Market Check

Equity benchmarks continued to trade higher with moderate gains, backed by Reliance Industries and realty, banking & financials stocks.

 

At 2:38 pm, the S&P BSE Sensex was trading at 31,854, up 151 points while teh broader NIfty50 index was ruling at 9,959, up 47 points

2:21 PM

IDBI moves SC against stay of insolvency proceedings against Jaypee
 

The Supreme Court on Tuesday agreed to hear IDBI Bank's plea seeking modification of its order staying insolvency proceedings against embattled real estate firm Jaypee Infratech on September 11.

 

A bench comprising Chief Justice Dipak Misra and Justices Amitava Roy and A M Khanwilkar considered the submission of the bank that staying the order of the National Company Law Tribunal (NCLT) in Allahabad had reversed the position and, as a consequence, the company had gone back to defaulting promoters.

2:04 PM

RIL gains

Reliance Industries advanced 1.16% to Rs 1,630.05 on BSE after a foreign brokerage reportedly stated that it expects the company's gross refining margins to gain on a global supply glut concerns.

 

1:39 PM

Europe Check

European markets were mixed, as geopolitical tension concerning North Korea kept investors at bay while markets lacked overnight guidance due to a Labor Day holiday in North America.

 

The pan-European Stoxx 600 edged marginally higher shortly after the opening bell, with sectors and major bourses pointing in opposite directions.