Sensex Today: Sensex ends 375 points higher, Nifty at 10,946; Prabhat Dairy hits 20% upper circuit

Sensex Today: Benchmark indices started the Friday's trade on a bullish note with Sensex rising 140 points to 36,785 level and Nifty advancing back above 10,880 mark.

Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bearish with net selling logged at Rs 561.17 crore from Indian equities while domestic institutional investors (DIIs) bought Rs 699.31 crore on Thursday.

 

Globally, markets reacted on a bullish note. Asian markets traded higher as investors await US nonfarm payrolls numbers due later in the day. SGX Nifty on the Singaporean Exchange, traded up by 49 pts or 0.45%.


On Wall street, US Futures (Dow Jones) trades at 26782 up 81 pts or 0.30%. US stocks rally on easing trade fears. European stocks hit one-month highs on trade optimism.

 

Sensex opens at 36,785.59, advancing 140 points over the last closing value of 36,644.42, and Nifty50 started the day's trade 40 points higher at 10,883.80 against the last closing price of  10,847.90


 

Sensex Today:  Sectorally,  except pharma, metal and realty, all the other indies are currently trading on a bullish note, with media and IT sector rising almost 1%. 

Sensex Today: Sensex had made a high of 36,867.49 and low of 36,757.59 , while Nifty has made a high of 10,905.20 and low of 10,877.70  in Friday's trade as of 0935 IST.

Share price of Sun Pharma declined 3.72% intraday to Rs 415.9, as the company on its clarification reply to a notice issued by the bourses, accepted the allegations of a SEBI ordered forensic audit on company's financial statements quoting,"Sun Pharma slides 4% on report of Sebi ordering forensic audit.

"The Company is not aware of any information that could explain the movement in the price of the scrip as referred to the said News Article" company said in the BSE filing adding that," A forensic audit has been ordered by SEBI w.r.t. the financial statements of Sun Pharmaceutical Industries Ltd. for the financial years ending March 31, 2016, March 31, 2017 and March 31, 2018.The said forensic audit is presently ongoing."

The stock price of Sun Pharma has fallen over 4.18% in a week's period.Sun Pharma has moved below its 30 day, 50 day and 150 day simple moving average today.

Sun Pharma share falls after firm says financial statements undergoing forensic audit

Share price of Ashok leyland fell 1.3% to the day's low of Rs 62.30 on BSE, against the last closing price of Rs 63.10, after media reports suggested that the company has issued notice to the employees and declared five days of no-production for its Ennore plant, starting from September 6, excluding Sunday, owing to sluggish market.

The five days of no production will impact around 5,000 workers at the plant, including 3,000 contractual personnel, sources said. 

Indiabulls Housing Finance Limited after the company submitted a regulatory filing regarding media reports suggesting a 'PIL against the company and its Promoter in Delhi High Court'.

IBHFL said that," The petition hasn’t yet been filed in the High Court as per the website records of Delhi High Court, but has been leaked in the social media with malicious intent and vested intereststo create turbulence in the stock price of the Company and fulfill ulterior motives."

"The purported PIL admits that the allegations are the same as in the petition of earlier  petitioner Abhay Yadav which was subsequently withdrawn." the filing said, addign that, "similar complaints with exactly similar allegations have already filed under various individual names in July 2019".

The filing further stated that," The petitioners have deliberately chosen the route of PIL  to attract attention and play into the hands of blackmailers and corporate rivals at a sensitive time of merger process of Indiabulls Housing Finance and Laxmi Vilas Bank".

Reacting to the filing, inititally the stock opened with a gap down chart pattern, at Rs 420.70 against the last closing of Rs 447, and fell over 9% to an intraday low of Rs 406.2 on BSE.

 

DLF on Friday has issued a notice regarding a purported Public Interest Litigation that is circulating on social media which makes certain unfounded allegations in respect of the relationship between DLF group and  Indiabulls group more specifically IBHFL.

DLF added that similar allegations had also circulated a few months back and that the said allegations are malicious and are completely and unambiguously denied.

DLF group have had financing transactions with the Indiabulls group since 2011 and all such transactions were completely on an arms length basis. Such transactions were fully compliant with all legal requirements and regulations.

The filing further stated that DLF has repaid all loans taken from Indiabulls by June 30th 2019 ahead of schedule, except for one loan of Rs 175 crore, which was downsold by IBHFL to a foreign bank, and is reflected in our books as such.

"As on date no other amounts are owed by any DLF group company to IBHFL or any other Indiabulls company" the filing added.

Share of DLF fell nealry 7% and touched an intraday low of Rs 148.20 on BSE, following the news. 

Gold price fell below Rs 39,000 mark over reduces trade tensions. China and the US have agreed to hold the next round of trade negotiations in Washington in early October to end the bruising trade war.

 Brent crude futures, the global oil benchmark, surged to nearly USD 61.10 per barrel, after rising 0.25 per cent.

The Indian rupee appreciated by 17 paise to 71.67 against the US dollar in early trade on Friday as gains in domestic equity market and resumption of US-China trade talks in October strengthened investor sentiments.

At the interbank foreign exchange the rupee opened at 71.87, then gained further ground and touched a high of 71.67, registering a rise of 17 paise over its previous close.

On Thursday, rupee had settled for the day with gains of 28 paise at 71.84 against the US dollar. The domestic unit however could not hold on to the gains and was trading at 71.73 against the dollar at 0949 hrs. Forex traders said investors were optimistic about the US-China trade talks in October. 

Rupee vs dollar: Rupee rises 17 paise to 71.67 on easing US-China trade tensions

 

Share price of Inox Leisure rose nealry 5% to touch an intraday high of Rs 283.75 on BSE, after the company filed statement regarding, commencing commercial operations of a Multiplex Cinema Theatre taken on Leave and License basis in Jalandhar, Punjab, with effect from today, i.e. Friday, 6th September, 2019.

The stock price of Prabhat Dairy were locked in 20% upper circuit band at Rs 78.15 apiece on the BSE on Friday, as the company filed an statement regarding voluntary delisting of the equity shares of the firm.

The company said that the promoters, including Sarangdhar Ramchandra Nirmal, and Vivek Sarangdhar Nirmal, were mulling purchasing publicly held shares, and delisting of the company. "In the letter, the promoters have expressed their intention to acquire 4,87,40,547 fully paidvup equity shares of the Company representing 49.90% of the paidrup equity share capital of the Company that are presently held by the public shareholders of the company", the company said in a regulatory filing.

The promoter groups presently holds 4,89,35,584 fully paid-up equity shares of the Prabhat Dairy representing 50.10% of the paid-up equity share capital. Of this, Nirmal Family Trust, Sarangdhar Ramchandra Nirmal and Vivek Sarangdhar Nirmal held 46.64%, 1.15%, and 1.15%, respectively.




 

Sensex Today: Benchmark indices traded on a bullish note on Friday. Market gained for 3rd straight session, with Senex closing 337 points or 0.92% higher at 36,981 and Nifty rising 98 points to 10,946 mark.

Sectorally, except FMCG, pharma and realty, all the other indices closed in the green, with major advances registered in auto, metal and banking indices.

Sensex ended day's trade at 36,644, declining 80 points against the last close and Nifty50 closed 3 points higher at 10,847 mark. Sectorally, while gains in auto, metal, media and pharma  provided mild support to the major indices, declines registered in realty and financial services dragged indeces further down.