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Share Market Update: Sensex ends 246 points higher, Nifty at 11,301 level; Bandhan Bank top gainer

Oct 11, 2019, Updated Oct 11, 2019, 4:00 PM IST

Share Market Update: Equity markets ended majorly bullish on Friday, with Sensex and Nifty ending 0.60% higher by the closing bell. While S&P Sensex closed 246 points higher at 38,127 mark, Nifty50 ended 66 points higher at 11,301 mark. Overall 20 out of 30 stocks on S&P Sensex and  35 out of 50 stocks on Nifty50 closed on bullish grounds. On the sectoral front, except media and private bank, all the other indices closed bullish for the day, with highest advance recorded in metal and IT scrips.

Share Market Update: On the sectoral front, except media and private bank, all the other indices closed bullish for the day, with highest advance recorded in metal and IT scrips. Share Market Update: On the sectoral front, except media and private bank, all the other indices closed bullish for the day, with highest advance recorded in metal and IT scrips.
10:08 AM (1 year ago)

Last close

Posted by :- Rupa Roy
Yesterday, equity markets closed majorly bearish , with benchmark indices BSE Sensex and NSE Nifty declining 0.70% each by the closing bell. While BSE S&P Sensex ended 297 points at 37,880 mark, NSE Nifty50 fell 78 points to close at 11,234 level. In total, 35 out of 50 stocks in Nifty50 and 22 out of 30 scrips on S&P Sensex closed in the red.

Sensex drops 297 points lower, Nifty ends at 11,234; Banking and financials drag
10:13 AM (1 year ago)

Global Market Update

Posted by :- Rupa Roy
Today, global markets have been bullish following positive cues from global markets on hopes of a trade deal between the US and China.

Asian stocks traded higher amid US-China trade optimism.On the Sigaporean Exchange, SGX Nifty was up 41.50 points at 11,302.50.On the Wall Street, US Futures (Dow Jones) trades at 26,548, up 64 points or 0.24%. US stocks closed higher ahead of US-China trade talks.
10:15 AM (1 year ago)

Bandhan Bank to be added in MSCI Global Standard Index

Posted by :- Rupa Roy



Bandhan Bank shares have risen almost 20% intraday over media reports that the lender will be added to MSCI Global Standard Index w.e.f October 16. There was massive buying recorded in Bandhan Bank shortly after opening.


As per media sources, Bandhan Bank is getting added to MSCI index effective 16th October as Gruh Finance is getting merged with Bandhan Bank .
10:15 AM (1 year ago)

Brent crude rises marginally

Posted by :- Rupa Roy
 Brent Crude, the global oil benchmark, trades at 59.31/bbl up 0.36%.
10:17 AM (1 year ago)

Sensex Gainers/ Losers

Posted by :- Rupa Roy
Top gainers in the Sensex pack in the early trade included Vedanta, Tata Steel, ONGC, SBI, Kotak Bank, Tata Motors, ICICI Bank, HDFC twins and Infosys, rising up to 4 per cent, while Reliance Infra, Reliance Capital, DHFL, Reliance Power and IRB Infrastructure wer among the top losers, down over 4% each.



 
10:19 AM (1 year ago)

IT stocks slip in trade led by TCS after Q2 results

Posted by :- Rupa Roy
IT stocks slip in trade today, led by TCS share, post its Q2 results. TCS was the top laggard on the exchnages with the opening bell, shedding up to 3%, after the largest software exporter on Thursday reported a tepid growth in net income for the September quarter at Rs 8,042 cr and guided towards more challenges putting a big question mark over its ability to deliver the double-digit growth.  
10:21 AM (1 year ago)

FII/ DII outcome on Thursday

Posted by :- Rupa Roy
Foreign institutional investors (FIIs) remained net sellers in the capital market, pulling out Rs 263.11 crore on Thursday, while domestic institutional investors bought shares worth Rs 502.67 crore, data available with stock exchange showed.
10:22 AM (1 year ago)

Factors for today's rally

Posted by :- Rupa Roy
Market rallied in early session on Friday tracking gains in global markets after US President Donald Trump offered an positive assessment of US-China trade talks, traders said.

"We just completed a negotiation with China. We're doing very well. We're having another one tomorrow. I'm meeting with the Vice Premier over at the White House," Trump told reporters at the White House on Thursday.

Following the news, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading significantly higher in early trade. Stocks on Wall Street too ended on a positive note on Thursday.

Domestic investors are also awaiting factory output data and Infosys earnings, scheduled to be released later in the day.
10:31 AM (1 year ago)

Infosys gains ahead of Q2 earnings

Posted by :- Rupa Roy
Infosys has risen nearly 4 % ahead of the IT gaint posting its quarterly earnings on Friday and tops the gainers front in IT sector stocks. The stock has gained after 3 days of consecutive fall and following the trend reversal, it has risen 3.84 % intraday to Rs 813 on the BSE.

Additionally, it has outperformed the IT sector by 3.79 %. Infosys stock trades 4.67 % away from 52 week high of Rs 847.4. After initial hours of fall, IT index has turned bullish, with Nifty IT rising 0.52 %, trading in line with Nifty50 rising at 0.90.%.

 
10:59 AM (1 year ago)

GRUH Finance up 20% on Bandhan Bank MSCI entry news

Posted by :- Rupa Roy
Shares of Ahmedabad-based housing finance company, GRUH Finance climbed 5.55% with the opening bell , over media reports that the commercial bank Bandhan Bank will be added to MSCI Global Standard Index w.e.f October 16.

It later rose 20% to the intraday high of Rs 327.3 on the BSE, following the news. The stock has traded in a wide range of Rs 39.4 today. Gruh Finance shares have risen 15% in one month and 10 % in one week.

Bandhan Bank shares climb 20% on MSCI entry; Gruh Finance stock rises 20%

 
11:01 AM (1 year ago)

Rupee opens stronger

Posted by :- Rupa Roy
The rupee, the domestic currency appreciated 15 paise against its previous close to trade at 70.92 per American currency in early session. On Thursday, the local unit closed at 71.07 against the dollar.

The domestic unit however could not hold on to the gains and was trading at 70.92 against the dollar at 1012 hrs.

Forex traders said higher opening in domestic equities supported the rupee.

Rupee vs Dollar: Rupee appreciates to 70.80 per USD amid US-China trade talks optimism
11:23 AM (1 year ago)

Pricol declines in trade

Posted by :- Rupa Roy
Shares of Pricol fell over 2% in the trade on Thursday after the auto-components maker announced non-working days in its facilities across the country, in October. The Tamil Nadu based company had announced non-working days for eight out of its 10 plants in the country last month.
11:26 AM (1 year ago)

TCS share price falls over 3%

Posted by :- Rupa Roy

Tata Consultancy Services (TCS) share price fell in early trade today after the IT firm's Q2 net profit and revenue growth missed estimates. This is the second successive quarter when the IT major has missed estimates in terms of both revenue and margin. TCS share price fell up to 3.56% to Rs 1,933 compared to the previous close of Rs 2,004.40 on BSE. 

TCS share price falls over 3% after Q2 earnings miss estimates
11:27 AM (1 year ago)

Cipla share price falls over 7%

Posted by :- Rupa Roy

Cipla share price falls over 7% in early trade today after USFDA issued form 483 for the Goa manufacturing facility of the firm. Cipla share price fell up to 7.74% to Rs 389.55 compared to the previous close of Rs 422.25 on BSE.

The observations assume significance since the firm's Goa unit generates 25 to 30% of US business.

The observations say facility will require very extensive change in standard operating procedures, and processes which could require a bit longer for the company to resolve issues.

Cipla share price loses over 7% on fears of USFDA action against Goa unit
11:33 AM (1 year ago)

Global Market Update

Posted by :- Rupa Roy

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5% after Trump said he would meet with Chinese Vice Premier Liu He, as the White House said trade talks between the two countries on Thursday went “probably better than expected.”

11:34 AM (1 year ago)

Expert opinion

Posted by :- Rupa Roy

“After a little bit of negativity, fresh build up is helping stocks,” said Anand James, Chief Market Strategist at Geojit Financial Services in Kochi.

“The market believes that at least some of the sectors will see some positivity, especially after the corporate tax rate-cut.”

  (Reuters)
12:12 PM (1 year ago)

Kwality shares rise 5% on Haldiram bid for acquisition

Posted by :- Rupa Roy



The share price of dairy firm Kwality rose 5% intraday after the company announced that Delhi-based Haldiram group has emerged as the sole bidder for its acquisition with an offer of around Rs 130 crore in the ongoing insolvency process. Kwality total debt stands around Rs 1900 cr.

Kwality insolvency: Haldiram makes Rs 130 crore bid for dairy firm



 
12:22 PM (1 year ago)

Thomas Cook falls 1.8% intraday after the company announces amalgation

Posted by :- Rupa Roy


Shares of Thomas Cook fell 1.8% intraday to the day's low of Rs 136.40 on the BSE, after the company announced amalgation among TC Forex Services Limited and Travel Corporation (India) Limited and TC Travel Services Limited and SOTC Travel Management Private Limited and Thomas Cook (India) Limited and Quess Corp Limited.

Thomas Cook's filing read," We are pleased to inform you that the NCLT, Mumbai Bench, has allowed the Composite Scheme of Arrangement and Amalgamation amongst TC Forex Services Limited and Travel Corporation (India) Limited and TC Travel Services Limited and SOTC Travel Management Private Limited and Thomas Cook (India) Limited and Quess Corp Limited and their respective shareholders."

Further, the fiing added," the final hearing for Quess Corp Limited is scheduled on 18th October, 2019 in the Hon'ble National Company Law Tribunal, Bengaluru Bench. Once the order is received from both the NCLT Benches and filed with the respective Registrars of Companies, the scheme shall be made effective."
1:08 PM (1 year ago)

Oil prices jumps by 2% over Inranian tanker explosion reports

Posted by :- Rupa Roy


Oil prices jumped by 2% on Friday after an Iranian state-owned oil tanker was struck by two missiles off the Saudi port of Jeddah on Friday, Iranian state television reported, raising the prospect of supply disruptions from a crucial producing region.

Oil prices jumped 2% after reports of the tanker explosion, with benchmark Brent and U.S. West Texas Intermediate crude futures rising more than $1 a barrel each.

International benchmark Brent crude futures LCOc1 rose as much as 2.3% to $60.46 a barrel and were at $60.13 per barrel, up $1.02, by 0648 GMT.

U.S. West Texas Intermediate (WTI) crude CLc1 futures rose as much as 2.1% to $54.69 a barrel and were at $54.47 per barrel, up 92 cents.

 
1:14 PM (1 year ago)

Market Update

Posted by :- Rupa Roy

Share Market LIVE: Equity markets have given up initial gains on Friday, with benchmark indices BSE Sensex and NSE Nifty rising 0.45 % each, after media reports suggested that Iranian state-owned oil tanker was struck by two missiles off the Saudi port, causing 2% rise in oil prices. Domestic equity indices continue to trade in the green amid US-China trade talks optimism. While BSE Sensex trades 153 points higher at 38,033 level, Nifty has risen 45 points to 11,277 mark. On the sectoral front, except auto and PSU bank stocks, all the other indices currently trade bullish, with over 1 % gain in metal stocks and over 0.50 % advance in realty, financial, FMCG and IT scrips.