MARKET WRAP: Sensex surges 718 pts, reclaims 34,000-mark; PSU banks rally
Nifty PSU Bank index post sharpest single-day gain in past one year, surging 8 per cent led by Oriental Bank of Commerce and Canara Bank.
 "SMEs, banks, foreign exchange, markets, forex, small and medium price industries,")
SMEs at large do not understand forex and the concept of hedging, which banks often exploit. (Photo: iStock)
1:32 PM
Top gainers in BSE 500:
» More on Top Gainers
| COMPANY | PRICE() | CHG() | CHG(%) | VOLUME |
| ADANI POWER | 41.70 | 6.20 | 17.46 | 7617111 |
| TATA POWER CO. | 79.20 | 10.25 | 14.87 | 2462899 |
| DIVI'S LAB. | 1432.90 | 179.00 | 14.28 | 270534 |
| ORIENTAL BANK | 73.65 | 7.75 | 11.76 | 567470 |
| INTELLECT DESIGN | 253.20 | 25.20 | 11.05 | 125937 |
1:14 PM
PCA rejig hope: Nifty PSU Bank index up 7%; OBC, Union Bank rally 10%
Shares of public sector undertaking (PSU) banks are in focus on Monday, with Nifty PSU Bank index surging 7% on the National Stock Exchange (NSE) after a media report suggest that the government expects some changes in the prompt corrective action (PCA) framework prescribed by the Reserve Bank of India (RBI) to enable more sanction of credit by PSU banks. State Bank of India (SBI), Bank of India, Indian Bank, Canara Bank, Oriental Bank of Commerce, Bank of India, Union Bank of India, Punjab National Bank, Bank of Baroda and Syndicate Bank were up in the range of 6% to 12% on the NSE. Read more
12:59 PM
Vijaya Bank shares up post Q2 earnings
12:50 PM
BHEL announces Rs 16.28 bn buyback; should you tender your shares?
Last week, Bharat Heavy Electricals (BHEL) announced a buyback of its 189.3 million equity shares (nearly 5.16 per cent of the paid up equity share capital) at Rs 86 apiece, amounting to Rs 16.28 billion. The buyback price is at around 28 per cent premium to the current market price of Rs 67 on the Bombay Stock Exchange (BSE). Analysts believe investors should subscribe for the buyback offer, as the long-term outlook of the business remains a concern. Given the working capital stress and the attractive buyback price, they suggest investors use the opportunity to tender their shares. Read More
12:40 PM
Paper stocks in focus on strong Q2 results; Seshasayee Paper surges 18%
Shares of paper companies have rallied by up to 18% on the BSE in intra-day trade after Seshasayee Paper & Boards and International Paper APPM posted a strong set of numbers for the quarter ended September 2018 (Q2FY19). Seshasayee Paper & Boards, Ballarpur Industries, JK Paper, West Coast Paper, Star Paper Mills and International Paper APPM were up in the range of 5% to 15%, as compared to 0.77% rise in the S&P BSE Sensex. Read more
12:37 PM
NEWS ALERT 1.4% equity of Ambuja Cements changes hands on NSE & BSE in 3 blocks
12:25 PM
Modi and rupee's fate in lockstep? $730-bn sovereign bond market is worried
One of India’s largest debt underwriter says the rupee, Asia’s worst-performing currency this year, is a bigger worry for the $730 billion sovereign bond market than a miss by the government on its budget deficit target. With the US Federal Reserve expected to continue its tightening cycle and key elections due in India later this year and next, global funds may not be keen to put money to work in the nation’s assets, Shailendra Jhingan, chief executive at ICICI Securities Primary Dealership, said in an interview. Read more
12:19 PM
Tata Power rises post Supreme Court's verdict
12:15 PM
NEWS ALERT Adani - Tata Power case
Application to be made before CERC as per high powered committee recommendations, according to TV reports
Application to be made before CERC as per high powered committee recommendations, according to TV reports
12:12 PM
NEWS ALERT Adani - Tata Power case
High Powered Committee had recommended PPA extension up to 10-years for cos, according to TV reports
High Powered Committee had recommended PPA extension up to 10-years for cos, according to TV reports
12:09 PM
NEWS ALERT Adani - Tata Power case
Supreme Court allows for application to be made before CERC to amend PPA as per recommendations, according to TV reports
Supreme Court allows for application to be made before CERC to amend PPA as per recommendations, according to TV reports
12:00 PM
S&P BSE Sensex top gainers and losers
11:45 AM
IndusInd Bank hits 17 month low; Bharat Financial touches 52-week low
Shares of IndusInd Bank and Bharat Financial Inclusion have hit their respective 52-week lows on the BSE on Monday in an otherwise firm market. IndusInd Bank (Rs 1,376) and Bharat Financial Inclusion (Rs 844), down up to 5% each today, corrected 32% from their record high levels of Rs 2,038 and Rs 1,249, respectively, reported on August 3, 2018, on the BSE in intra-day trade. Read more
11:40 AM
TECHNICAL VIEW Nifty can slip below 9,000 mark, says Reliance Securities
11:34 AM
Nifty PSU Bank index up over 4%, OBC gains 8%
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First Published: Oct 29 2018 | 8:06 AM IST
