Sensex ends 172 pts higher, Nifty closes above 9,100

BT Online   New Delhi     Last Updated: March 30, 2017  | 16:39 IST
Sensex ends 172 pts higher, Nifty closes above 9,100

The benchmark indices opened on a higher note and continued to sustain gains through the day. The Sensex gained over 180 points in trade on Tuesday and Nifty climbed well past its 9,100-mark.

The positive sentiment was impacted by a good rally on Wall Street followed by upbeat trend in the Asian markets.

Most of the Asian stocks rose as investors looked beyond the failure of the Trump administration to replace the Obamacare, aided by improving macroeconomic data out of the US and Europe.

In the domestic front, Finance Minister Arun Jaitley briefed lawmakers about the four GST Bills - Central GST, Integrated GST, Union Territory GST and the Compensation Law - introduced in Lok Sabha which will be taken up for consideration on Wednesday.

Buzzing stocks

Axis Bank was the top gainer on the BSE gaining over 3 per cent after the private sector bank informed the bourses that it has raised senior notes in the international market. The stock was the top Sensex gainer.

Bharti Infratel surged as much as 3.63 per cent after global private equity investor KKR & Co LP and Canada Pension Plan Investment Board bought a 10.3 per cent stake in the company for more than Rs 61.9 billion.

BSE Telecom index was the leading sectoral gainer with over 1 per cent gain.

Dishman Pharma soared as much as 20 per cent to an all-time high after company's partner Tesaro Inc got the USFDA's nod for an ovarian cancer drug, Zejula.

Other top performers on the BSE index were HDFC, Tata Motors, Asian Paints and ICICI Bank gaining over 1 per cent.

On the NSE nifty Index, Eicher motors and Axis Bank were the top gainers.

Market Closing:

The S&P BSE Sensex ended the day at 29,409.52, having rallied 172.37 points.

The top gainer was Axis Bank while ONGC was the biggest laggard.

The Nifty50 closed at 9,100.80, up 55.60 points.

Eicher Motors was the top gainer on the NSE while Tech Mahindra was the top loser.

Nifty Bank closed 168 points higher after bank stocks outperformed in todays trade.

However in the metal space, gold and silver dipped gains.

1.05 PM:

Europe markets open higher. Asian markets continue to rally.

12.56 PM:

Gas prices to be marginally hiked by April 1, 2017, reported CNBC TV 18.

This marks the first upward movement of gas prices in over 2 years.

The prices are likely to be hiked to $2.60-2.80 from $2.50 per unit, while premium prices are to be revised from $5.30 to $5.80per unit.

ALSO READ: Donald Trump may approve major export of natural gas to India

12.27 PM:

NTPC announced today that its board has approved investment of Rs 3,004 crore for Talaipalli Coal Mining Project which has an estimated 18 million tonnes per annum capacity in Chhattisgarh.

"In line with the Corporate Disclosure requirements, we wish to inform that the Board of Directors of the Company has accorded investment approval for Talaipalli Coal Mining Project (18 Million Tonnes per annum) at an appraised current estimated cost of Rs 3,004 crore," NTPC Ltd said in a statement.

NTPC has been allotted coal blocks namely, Pakri-Barwadih, Chatti-Bariatu, Kerandari, Dulanga, Talaipalli and Chatti-Bariatu (South), Banai, Bhalumunda and Mandakini B.

12.23 PM:

Aurobindo Pharma has received final approval from the USFDA for Meropenem injection used for treatment of complicated skin and related infections, complicated intra abdominal infections and bacterial meningitis.

The company "has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Meropenem injection 500 mg/vial and 1g/ vial," Aurobindo Pharma said in a filing to BSE.

This is a generic version of AstraZeneca Pharmaceuticals' Merrem injection, it added.

"The approved product has an estimated market size of USD 118 million for the 12-month ending January 2017, according to IMS," said Aurobindo Pharma.

The scrip was trading 1.60 per cent higher on the BSE.

11.42 AM:

Axis Bank led the BSE gains clocking 2.48 per cent.

9.35 AM:

KKR buys 10 per cent stake in Bharti Infratel from Bharti Airtel at Rs 325 per share, reported CNBC TV 18.

The stock of Bharti Infra rose 3.14 per cent on the BSE.

9.29 AM:

Pharma major Sun Pharma has climbed 1.04 per cent.

9.26 AM:

Among the top gainers on the BSE, Axis Bank was leading the rally 1.50 per cent higher, followed by WIPRO (1.17 per cent), NTPC (0.95 per cent) and Bharti Airtel (0.95 per cent).

9.19 AM:

Shares of Dishman Pharma has surged over 20 per cent after the US FDA approves Cancer drug, Zejula for Tesaro Inc.

9.16 AM:

Bank Nifty opens 175 points higher led by ICICI Bank, Kotak Mahindra Bank and Induslnd Bank.

BSE Sensex kicks off at 29,351.96, up 114.81 points.

Nifty starts at 9,085.75, up 40.55 points.

9.13 AM:

Market pre opening suggests a positive rally

9.08 AM:

GLOBAL MARKETS

Asian stocks advanced on Tuesday after Wall Street steadied and the dollar bounced from a four-month-low, as anxiety over Donald Trump's setback on healthcare reform gave way to tentative hopes for the us President's planned stimulus policies.

Asian markets picked up pace on Tuesday on the back of Wall Street that gained stability and the US dollar that bounced from a four-month-low as investors fear over Trump's healthcare setback converted to hopes for the US President's planned stimulus policies.

Japan's Nikkei jumped 1 per cent, its biggest one-day gain in more than two weeks, while the Chinese Shanghai Composite dipped  0.29 per cent and the Hang Seng Index stiffened up 121.73 points, adding 0.50 per cent to the bourse.

China's market was one of the region's underperformers, with the CSI 300 index about 0.2 percent lower and the Shanghai Composite down 0.4 percent.

Overnight, the S&P 500 and the Dow Jones Industrial Average closed lower but had narrowed their losses from earlier in the session, when both hit near-six-week lows. The Nasdaq ended higher.

Risk appetite had evaporated after Trump's failure to garner enough support last week to pass a bill repealing the Affordable Care Act, former President Barack Obama's signature health care bill, even with a Republican-controlled Congress.

That blow for Trump spooked global risk assets on concerns about the president's ability to enact stimulus policies. The MSCI World index, which had stumbled last week, managed to recover, as confidence returned that the Trump administration will corral Congressional support for other pro-growth policies.

 

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