Market Wrap: Sensex, Nifty end higher, pharma stocks top gainers

Market Wrap: Sensex, Nifty end higher, pharma stocks top gainers

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BSE Sensex and NSE Nifty closed higher on Tuesday. Photo: Reuters

  • Mumbai: The Sensex and Nifty closed higher for a fourth straight day on Tuesday, helped by gains in Reliance Industries Ltd and pharma stocks, PTIreported. The Sensex opened higher and extended gains, but settled at 33,478.35, up 118.45 points, or 0.36%, due to profit-booking in the last one hour of trade. This is its highest closing since 6 November, when it had closed at 33,731.19. The gauge had risen 599.46 points in the previous three sessions. The 50-share NSE Nifty settled up 28.15 points, or 0.27%, at 10,326.90 after shuttling between 10,358.70 and 10,315.05. Dr. Reddy’s Labs, Sun Pharma and Cipla were top gainers, while Coal India, ITC and Power Grid were the top losers. Positive leads from other Asian markets tracking overnight gains at Wall Street helped. Investors continued to focus on corporate earnings and prospects for tax cuts. Here are the latest updates from the markets:
  • 3.34 pm ISTClosing bellBSE Sensex closed higher by 118.45 points, or 0.36%, to 33,478.35, while the Nifty 50 rose 28.15 points, or 0.27%, to close at 10,326.90.

  • 3.31 pm ISTTop gainers/losersDr. Reddy’s, Sun Pharma, Cipla and Bharti Airtel were the top gainers today with gains to the tune of 4.99%, 4.18%, 2.31% and 2.13%, respectively. Meanwhile, shares of Coal India, ITC and Power Grid fell 1.51%, 1.08% and 1.03%, respectively.

  • 3.10 pm ISTMarket updateBSE Sensex traded higher by 130.60 points, or 0.39%, to 33,490.50, while the Nifty 50 rose 31.65 points, or 0.31%, to 10,330.40.

  • 3.05 pm ISTSectoral indicesAll the sectoral indices, except realty and FMCG, were trading in the positive territory. The BSE Healthcare index gained most and was up 1.81% followed by consumer durables 1.48%, energy 0.96% and telecom 0.88%. Meanwhile, realty fell 1.50% and FMCG was down 0.21%.

  • 2.55 pm ISTDonear Industries says promoters acquire OCM MillsDonear Industries Ltd said in a BSE filing that its promoters, through a limited liability partnership, acquired OCM Mills. The company’s shares surged 18% to Rs76.50 in the early hours. Shares were trading 6.03% higher at Rs68.55.

  • 2.03 pm ISTMarket updateBSE Sensex jumped 224.18 points, or 0.67%, to 33,584.08, while the Nifty 50 rose 55.55 points, or 0.54%, to 10,354.30.

  • 2.00 pm ISTRCom shares jump on asset sale buzzReliance Communications Ltd shares surged 14% to Rs13.75 after reports that the company’s lenders have approved the sale of its real estate assets in Delhi and Chennai to Canada-based Brookfield Asset Management, PTIreported.

  • 1.05 pm ISTPower Finance plans debt offerings in Asia, EuropePower Finance Corp. Ltd said it has asked Barclays, SBI Capital and Standard Chartered Bank to organise a series of meetings with investors in Asia and Europe in connection with a US dollar denominated debt offering. The company’s shares rose 1.18% to Rs128.75.

  • 12.55 pm ISTKinetic Engineering appoints Chaitanya Koranne as CEOKinetic Engineering said the board of directors appointed Chaitanya Koranne as chief executive officer of the company. Shares were trading 4.30% down at Rs83.45.

  • 12.20 am ISTMarket updateBSE Sensex traded higher by 168.51 points, or 0.51%, to 33,528.41, while the Nifty 50 rose 49.90 points, or 0.48%, to 10,348.65.

  • 12.15 pm ISTPharma stocks trade higherPharma stocks trade higher. Sun Pharmaceuticals Industries Ltd rose 3.5%, Dr Reddy’s Laboratories 3%, Cipla Ltd 3%, Lupin Ltd 2%, Wockhardt Pharma 4.8%, Eris Lifesciences 3.3% and Torrent Pharma 2.3%.

  • 11.40 am ISTYes Bank raises Rs40 crore via two syndicated loansYes Bank Ltd said it has raised Rs40 crore throught two syndicated loan transactions in Taiwan and Japan, according to a BSE filing on Tuesday. The loan comprises Rs25 crore from Taiwanese banks and around Rs15 crore from Japan. Yes Bank shares were trading 1.23% higher at Rs317.05.

  • 11.15 am ISTJet Airways shares decline 5%Jet Airways India Ltd fell 5% to Rs687.50. The company on Monday said it would focus on reducing expenses, especially in trimming maintenance and distribution costs, as the full service airline pursues strategic growth priorities amid stiff competition. To bolster its overall income, the carrier would also focus on enhancing ancillary revenue by around Rs 250 crore.

  • 10.47 am ISTMarket updateBSE Sensex traded higher by 180.76 points, or 0.54%, to 33,540.66, while the Nifty 50 rose 51.10 points, or 0.50%, to 10,349.85.

  • 10.45 am ISTSimplex Infrastructures shares up 9% after construction orderSimplex Infrastructures Ltd rose 9% to Rs567.50 after the company said it won an order worth Rs524 crore from NBCC India to construct buildings for IIT Bhubaneswar and its extended campus.

  • 10.40 am ISTARSS Infrastructure awarded Rs87.1 crore orderARSS Infrastructure Projects Ltd rose 10% to Rs52.85 after the company said it got an order worth Rs87.1 crore from Rail Vikas Nigam.

  • 10.20 am ISTDr. Reddy’s receives EIR for Vizag facility, jumps 6%Dr. Reddy’s Laboratories Ltd jumped 6.3% to Rs2,420.20 after the company said in a notice to BSE that it got establishment inspection report from the US FDA for its Duvvada site, in Vishakhapatnam, Andhra Pradesh.

  • 10.15 am ISTQuess plans to buy 51% stake in Tata Business Support ServicesQuess Corp. Ltd rose 8.6% to Rs940.15 after the company said it will buy 51% stake in Tata Business Support Services for Rs153 crore.

  • 10.05 am ISTKajaria Ceramics shares up after block dealKajaria Ceramics Ltd rose 2.3% to Rs729.40 after a huge block deal. Around 3.5 million shares of the company changed hands in a block deal, Bloombergreported. However, details of the buyers and sellers were not available.

  • 9.27 am ISTSensex, Nifty open higherBSE Sensex opened higher by 125.58 points, or 0.39%, to 33,488.48, while the Nifty 50 rose 34.35 points, or 0.33%, to 10,333.10.

  • 9.25 am ISTRIL shares rise 2%Reliance Industries Ltd rose 2% to Rs934.55. The company has hit the overseas debt market with a $800 million bond sale programme as it seeks to pare a portion of its high-cost debt that stands at over Rs2.14 trillion.

  • 9.23 am ISTL&T Finance Holdings shares down 2.7% after block dealL&T Finance Holdings Ltd fell 2.7% to Rs183 after a huge block deal. Around 1.8% stake or 33.30 million shares of the company changed hands in a block deal, Bloomberg reported. However, details of buyers and sellers were not available.

  • 9.20 am ISTFuture Enterprises shares rise 3%Future Enterprises Ltd rose 3.2% to Rs51.50 after PTI reported that US-based Griffin Partners has sold 19.63 lakh shares of Future Supply Chain Solutions for Rs124.99 crore to Edelweiss Crossover Opportunities Fund and EW Clover Scheme.

  • 9.15 am ISTRupee flat against US dollarThe rupee opened at 65.11 a dollar. At 9.15am, the home currency was trading at 65.10 a dollar, down 0.01% from its Friday’s close of 65.10. So far this year, the rupee has gained 4.36%, while foreign institutional investors have bought $8.24 billion and $22.33 billion in equity and debt, respectively.

  • 9.13 am ISTBond yields fallThe 10-year bond yield was at 6.88%, compared to its previous close of 6.89%. Bond yields and prices move in opposite directions.

  • 9.10 am ISTAsian currencies trade mixedAsian currencies were trading mixed. Philippines peso was down 0.15%, while Indonesian rupiah and Taiwan dollar fell 0.04% each. However, South Korean won was up 0.25%, Japanese yen 0.08% and Malaysian ringgit rose 0.07%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.052, down 0.03% from its previous close of 94.08.