MARKET WRAP: Nifty at new high, Sensex up 284 pts; banks, FMCG stocks rally
Among key stocks, the fast moving consumer goods (FMCG) major ITC rose over 2 per cent to end at Rs 313 levels on the BSE. The stock hit a fresh 52-week high of Rs 315 earlier today.
 "Markets, Stocks, BSE, NSE, Trade")
Photo: Shutterstock.com
The benchmark indices settled higher on Friday taking cues from their Asian peers.
The S&P BSE Sensex ended at 37,948, up 284 points while the broader Nifty50 index settled at a new high of 11,471 levels, up 86 points.
The S&P BSE Sensex ended at 37,948, up 284 points while the broader Nifty50 index settled at a new high of 11,471 levels, up 86 points.
Among key stocks, the fast moving consumer goods (FMCG) major ITC rose over 2 per cent to end at Rs 313 levels on the BSE. The stock hit a fresh 52-week high of Rs 315 earlier today. ICICI Bank and State Bank of India also ended higher in a range of 1.8 to 3.0 per cent on the BSE.
Among sectors, the Nifty Pharma index ended higher for the fourth straight day, hitting an over six-month high on the National Stock Exchange (NSE). Sun Pharmaceutical Industries, Dr Reddy’s Laboratories, Glenmark Pharmaceuticals, Lupin, Aurobindo Pharma and Cadila Healthcare from the index, were up in the range of 1 per cent to 4 per cent on the NSE.
The money and bond markets are closed today on account of Parsi New Year.
Global Markets
Asian shares won a modest reprieve on Friday after China and the United States agreed to hold their first trade talks since June next week and as the Turkish lira extended gains from its record low earlier this week.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.46 per cent, a day after it hit its lowest level in a year. Japan’s Nikkei advanced 0.5 per cent.
The gains came after a Thursday rebound in US markets, with a string of positive news ranging from strong corporate earnings to reports of a revival in US-China trade talks all boosting investor sentiment.
The meeting is set to take place as the world’s two largest economies are due to slap tariffs on billions of dollars of each other's goods on August 23, 2018, in addition to levies that took effect on July 6, 2018.
The Turkish lira strengthened against the dollar on Friday as investors weighed up a US warning that Turkey should expect more economic sanctions unless it hands over detained American pastor Andrew Brunson.
Economists see GDP rising at 7.5 per cent
Back home, India's economy is expected to grow at a healthy 7.5 per cent in the first quarter (Q1) of 2018-19 (FY19), lower than a seven-quarter high of 7.7 per cent in the fourth quarter (Q4) of 2017-18 (FY18), economists have said.
(with inputs from Reuters)
3:45 PM
Nifty Pharma index ended around 1% higher. Top gainers:
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) |
|---|---|---|---|---|
| CADILA HEALTH. | 357.80 | 340.20 | 17.60 | 5.17 |
| LUPIN | 879.95 | 849.75 | 30.20 | 3.55 |
| GLENMARK PHARMA. | 601.45 | 583.25 | 18.20 | 3.12 |
| AUROBINDO PHARMA | 654.55 | 635.30 | 19.25 | 3.03 |
| DIVI'S LAB. | 1176.50 | 1164.40 | 12.10 | 1.04 |
3:42 PM
Nifty sectoral gainers of the day
3:40 PM
BSE Sensex: Yes Bank, SBI, ITC, ICICI Bank among top gainers of the day
3:37 PM
Markets at close
The S&P BSE Sensex ended at 37,948, up 284 points while the broader Nifty50 index settled at 11,471, up 86 points.
The S&P BSE Sensex ended at 37,948, up 284 points while the broader Nifty50 index settled at 11,471, up 86 points.
3:17 PM
Nifty PSU Bank index gains 3% after falling 7% in past four trading days
Shares of public sector undertaking (PSU) banks were in focus with Nifty PSU Bank index gaining 3% on Friday after falling 7% in past four trading days on the National Stock Exchange (NSE). READ MORE
3:03 PM
Top gainers in Nifty 500:
» More on Top Gainers
| COMPANY | PRICE() | CHG() | CHG(%) |
| H D I L | 34.15 | 3.55 | 11.60 |
| DR LAL PATHLABS | 1057.55 | 91.15 | 9.43 |
| KIOCL | 175.00 | 13.45 | 8.33 |
| EDELWEISS.FIN. | 297.40 | 22.85 | 8.32 |
| GMR INFRA. | 18.90 | 1.25 | 7.08 |
2:47 PM
FCI plans to hasten foodgrain sales, may expedite wheat selling in bulk
With record inventory, government-owned Food Corporation of India (FCI) wants to expedite foodgrain sales to make warehouse space available for next season’s procurement, as well as to calm the heated market. READ MORE
2:33 PM
Gold nudges up, but set for biggest weekly fall in 15 months
Gold eked out small gains in Asian trade on Friday after declining to a 19-month low in the previous session, but the metal remained on track for its biggest weekly decline since mid-2017.
Spot gold was up 0.1 per cent at $1,175.22 an ounce, while US gold futures were down 0.2 percent at $1,181.30 an ounce. READ MORE
2:20 PM
Paper stocks extend rally; JK Paper zooms 75% in one month
Shares of paper companies were trading higher on the bourses on expectations of a positive outlook for the current July-September quarter. READ MORE
2:04 PM
Market Check
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 37,956.69 | +293.13 | +0.78 |
| S&P BSE SENSEX 50 | 12,008.05 | +94.10 | +0.79 |
| S&P BSE SENSEX Next 50 | 33,973.62 | +344.98 | +1.03 |
| S&P BSE 100 | 11,744.79 | +96.08 | +0.82 |
| S&P BSE Bharat 22 Index | 3,601.63 | +30.75 | +0.86 |
1:47 PM
Top gainers in BSE 500:
» More on Top Gainers
| COMPANY | PRICE() | CHG() | CHG(%) |
| EDELWEISS.FIN. | 296.30 | 21.25 | 7.73 |
| IL&FS TRANSPORT | 35.55 | 2.55 | 7.73 |
| H D I L | 32.95 | 2.20 | 7.15 |
| GMR INFRA. | 18.85 | 1.25 | 7.10 |
| PNB HOUSING | 1348.00 | 86.25 | 6.84 |
1:29 PM
EMs on cusp of a bear market; investors cautious amid global headwinds
Turkey may have helped buoy the lira, but the rest of the developing world is reeling — with stocks on the verge of a bear market. The MSCI Emerging Markets Index has tumbled almost 20 per cent from a January peak, while a currency measure slipped to the lowest since May 2017. READ MORE
1:14 PM
Strong advertising outlook, launch of channels positives for Sun TV Network
Strong advertising growth, additional subscription revenue, launch of channels and entry into new markets could stem the tide for Sun TV Network, which has been impacted by stiff competition in its core markets. READ MORE
12:58 PM
US firms cement their dominance in the top 500 league, Indian tally falls
Despite the growing prominence of emerging markets (EMs) such as India on the world stage, the big-boy club of global markets continues to be dominated by US-based corporations. According to data, 203 of the world’s 500 biggest companies in terms of market capitalisation are from the US. A decade ago, there were only 164 US companies in the list. READ MORE
12:41 PM
Stock Quote:
Ashok Leyland bags order for 300 double-decker buses from Bangladesh
Ashok Leyland has won an order of 300 double-decker buses from Bangladesh Road Transport Corporation (BRTC). READ MORE
Stock Quote:
Topics :
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Aug 17 2018 | 8:15 AM IST
