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Market evening brief: All you need to know about Wednesday's trading session

It was a day of setting records. The Nifty50 hit 8,800 intraday for first time since April 2015, Bank Nifty rose to 17-month high, the market capitalisation (m-cap) of BSE-listed firms touched its fresh lifetime high, while Kotak Mahindra Bank also surged to record high.

BT Online | August 31, 2016 | Updated 17:27 IST
Market evening brief: All you need to know about Wednesday's trading session

It was a day of setting records. The Nifty50 hit 8,800 intraday for first time since April 2015, Bank Nifty rose to 17-month high, the market capitalisation (m-cap) of BSE-listed firms touched its fresh lifetime high, while Kotak Mahindra Bank also surged to record high.

Below is the wrap-up of all important developments that shaped the market today:

 

  1. Sensex ends at fresh 52-week high: Buoyed by positive global cues and upbeat corporate results from Whirpool India and BPCL, the S&P BSE Sensex hit a fresh 52-week high to settle the day 109 points higher, while the broader Nifty50 closed above its key 8,780-mark. The 50-share index touched 8,800 intra-day for first time since April 15, 2015 in the morning trade.
  2. M-cap of BSE-listed firms hit lifetime high: Riding on a strong stock market sentiment, the total m-cap of BSE-listed companies surged to a lifetime high of over Rs 111 lakh crore. The total market valuation of BSE firms had hit a record high of Rs 100 lakh crore in November 2014.
  3. RBL Bank makes splendid debut: RBL Bank made a splendid debut by listing at Rs 273.70, a premium of 21.64 per cent on the BSE against its issue price of Rs 225. The stock went on to hit day's high of Rs 305, up 35.55 per cent against its issue price. RBL, which is the first private bank in a decade to have made its stock market debut,  settled the day at Rs 299.30, up 33 per cent.
  4. Bank Nifty hits 17-month high: Bank Nifty closed the day 1.29 per cent higher, led by gains in Kotak Mahindra Bank, which hit its record high of Rs 814.95 in today's session. The scrip settled the day 2.91 per cent higher after the Reserve Bank of India granted approval to the Canada Pension Plan Investment Board to acquire shares in excess of 5 per cent but below 10 per cent of the paid-up capital of the company.
  5. Major blow to Tata Motors: In a major setback to the Tata Group, the Supreme Court has set aside the Calcutta High Court order upholding the land acquisition for Nano plant at Singur in West Bengal. The land acquisition process has not been dealt with properly, the apex court said and ordered the acquired land to be returned to the cultivators within 12 weeks from today. The stock of Tata Motors closed 1.73 per cent higher.
  6. Sony Pictures buys Ten Sports from Zee Ent: Zee Entertainment Enterprises (ZEE) on Wednesday announced that SPN and its affiliates have entered into definitive agreements to acquire TEN Sports Network from Zee Entertainment Enterprises Limited (ZEE) and its subsidiaries for $385 million (Rs 2,600 crore). The stock of Zee Entertainment ended 2 per cent higher

 

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