The BSE Sensex and NSE Nifty wiped off all the initial losses and was trading in green in the afternoon trade. ( Express photo)
Buoyed by positive global cues, the key benchmark indices BSE Sensex and NSE Nifty pared their initial losses of the day in the second half of the trade and closed 204.46 points and 58.65 points up at 27,214.60 and 8,238.58, respectively.
In the 50-share index, State Bank of India, Larsen & Toubro, BPCL, YES Bank and Asian Paints gained between 1.65 per cent and 3.15 per cent. On the other hand, Lupin, Adani Ports, Idea Cellular, Bank of Baroda and Tata Steel slid between 0.90 per cent and 2.30 per cent.
Among the sectoral indices on the Bombay Stock Exchange, the BSE Capital Goods index gained the most —1.94 per cent, followed by the BSE Bankex (up 1.41 per cent), BSE Oil & Gas (up 1.13 per cent) and BSE Auto index (up 0.95 per cent). On the other hand, the BSE Realty index and BSE Consumer Durables index slid 1.39 per cent and 0.55 per cent, respectively.
Market breadth for the day remained positive as advances to declines ratio for Nifty stood at 34:16 for the day. Volumes for Nifty stocks stood at 1,610 lakh against Thursday’s volumes of 1,724 lakh logged for Nifty stocks.
Nestle India share price gained over 7 per cent intraday on Friday after the company said it has received test results from all three laboratories mandated by the Bombay High Court in August, and that all 90 samples, covering six varieties, were safe for consumption. Later the scrip closed 5.59 per cent up at Rs 6,551.
DCB Bank surged as much as 7.09 per cent intraday on Friday after the bank informed BSE before market hours that it has decided to install over 150 branches over a period of 24 months instead of 12 months earlier – this happened after the management came in for much criticism from analysts and shareholders over its intention to expand in a major way. The share price of the bank settled 3.68 per cent up at Rs 95.75.
Asian shares hit a two-month high on Friday, catching some of Wall Street’s shine after upbeat US price and jobless claims data calmed some concerns about the strength of the US economy. Hang Seng, Nikkei and Shanghai closed 0.78 per cent, 1.08 per cent and 1.60 per cent up at 23,067, 18291 and 3391, respectively.
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Markets through the day
3.30 pm: The BSE Sensex and NSE Nifty closed in green on Friday on the back of positive global cues. Sensex and Nifty closed 204.46 points and 58.65 points up at 27,214.60 and 8,238.58, respectively.
3.07 pm: Sensex was up 213 points at 27,223. India’s fuel demand in September rose at the fastest pace in more than a decade, providing further evidence of a pick up in industrial activity in Asia’s third-largest economy.
2.43 pm: Homegrown auto major Mahindra & Mahindra has sold its entire 71.19 per cent stake in Swaraj Automotives SAL) for Rs 24.84 crore to b4S Solutions. The share price of Mahindra & Mahindra was trading 1.02 per cent up at Rs 1,287.90 in the afternoon trade.
2.41 pm: Meanwhile, Edelweiss Financial Services reported 21 per cent rise in its consolidated net profit at Rs 95.69 crore for the second quarter ended September 30.
2.31 pm: Key benchmark indices wiped off all the initial losses and was trading in green. Sensex was up 160 points at 27,170. Nifty was up 49.80 points at 8,229. Europe extended a global share market rebound on Friday, following Asian and US stock indexes higher after better US data helped allay fears about global growth and sent world stocks to two-month highs.
The pan-European FTSEurofirst 300 rose 0.7 per cent, up for a second straight session to recoup losses made earlier in the week after weak data from China.
2.10 pm: Mutual fund managers continued to maintain bullish stance on software companies as they raised their total allocation in the sector to a fresh all time-high of over Rs 43,000 crore in September on depreciation in rupee.
2.04 pm: Meanwhile, Nestle announced that the company has received test results from all three laboratories mandated by the Hon’ble Bombay High Court to test Maggi noodles samples. All the 90 samples, covering 6 variants, tested by three laboratories are clear with lead much below the permissible limits. Cheering the news, share price of Nestle India jumped over 7 per cent to Rs 6640 in the afternoon trade.
1.50 pm: Shares of IT firm Mindtree surged by over 5 per cent after the company posted 15.1 per cent rise in net profit for the September quarter, giving a growth guidance of 12-14 per cent despite a traditionally slow third quarter.
1.33 pm: Subros gained over 2.5 per cent to Rs 89 on BSE after the company said it won a Rs 15 crore order from the Indian Railways. Sensex was down 41 points at 26,969.
1.02 pm: Sensex was down 37 points at 26,972. Nifty was down 9.20 points 8,170. In the 30-share index, Lupin, Tata Steel and Bharti Airtel were trading 2.72 per cent, 1.94 per cent and 1.84 per cent down at Rs 2,042.20, Rs 250.35 and Rs 345, respectively.
12.44 pm: Share price of Navkar Corporation (NCL) gained over 2 per cent after Reliance Securites started coverage with ‘buy’ rating. In a research report, the brokerage house said, “We expect the company to post a CAGR growth of 24.2 per cent in revenues, 28.3 per cent in EBITDA and 38.9 per cent in net profit over FY15-FY18E. We initiate coverage on NCL with a ‘Buy’ recommendation with target price of Rs 206.” Shares of NCL were trading at Rs 160 apiece in the afternoon trade. Sensex was down 55.30 points at 26,955.
12.15 pm: DCB Bank shares surged as much as 7.09 per cent intraday on Friday after falling 33.1 pct in the previous three sessions. Lender’s management team has decided to install over 150 branches in a cautious, prudent and calibrated manner over a period of 24 months instead of 12 months earlier – BSE filing. Sensex was 84 points at 26,926. Nifty was down 25.75 points at 8,153.75.
11.52 am: Share price of Oriental Bank of Commerce was down 2.67 per cent at Rs 142. The BSE has sought clarification from Oriental Bank of Commerce with respect to news article appearing on a website on October 15, 2015 titled “ED uncovers another forex scam; ED breaks forex scam related to Axis and OBC; ED Breaks Forex Scam Related To OBC & Axis Bank.”
11.28 am: Brokers said investors booked profit after weak economic data. India’s exports contracted for the 10th straight month by 24.33 per cent in September to $21.84 billion due to steep fall in shipments of petroleum productions, iron ore, and engineering goods amid tepid global demand, negatively impacted sentiments. Sensex was down 59 points at 26,951.
10.58 am: Reliance Industries shares gained over 1 per cent in the morning trade on Friday ahead of its Q2 results, which will be announced later in the day. The scrip was up 0.74 per cent at Rs 910.70.
10.46 am: Shares of public sector oil marketing companies gained on Friday after announcing hike in diesel price effective October 16. BPCL, HPCL and IOC were up 2.22 per cent, 1.43 per cent and 0.48 per cent, respectively. The BSE Oil & Gas index was up 0.73 per cent at 9240.70. Sensex was down 25 points at 26,983.
10.25 am: The rupee weakened by 13 paise to 64.95 against the dollar at the Interbank Foreign Exchange in early trade on Friday on demand of the US currency among importers amid shrinking exports in September.
10.01 am: Shrugging-off positive global cues, the benchmark BSE Sensex fell 0ver 50 points to drop below the 27,000-level in early trade on profit booking amid exports falling for the 10th straight month in September. Sensex was down 52 points at 26,957.
9.33 am: Share price of Bharti Airtel was down over 2 per cent in the early trade on Friday. Bharti Airtel gave an update after market on Thursday, in the matter of ‘CBI vs Shvamal Ghosh & Others,’ that the Special court has vide its order dated 15 October 2015 discharged Bharti Airtel and the other accused persons, on a finding, interalia, that there is no incriminating material on record against the accused and the accused deserve to be discharged.
In another update, Bharti Airtel on October 16 informed BSE before market hours that the agreements for sale of tower assets in Africa between Bharti Airtel Malawi Holdings BV & ors. and Eaton Towers (Lilongwe) Limited & ors. has lapsed and therefore stands terminated.
9.24 am: Sensex was down 32 points at 26977. Nifty was down 10 points at 8,168. Shares of Tata Motors were trading 1.73 per cent up at Rs 387.30. Tata Motors announced on Thursday post market hours that its global wholesales, including Jaguar Land Rover rose 21 per cent at 97,102 units in September 2015 over September 2014.
The BSE Sensex and NSE Nifty opened on a flat note on Friday. Sensex opened 52.66 points up at 27062.80. Nifty opened 14.15 points up at 8193.65.
Foreign portfolio investors bought shares worth a net Rs 291.73 crore on Thursday, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 102.21 crore.
Reliance Industries will announce its Q2 earnings on Friday. KR Choksey Shares & Securities in a research report said, “We expect a moderate quarter for RIL vs. previous quarter with PAT down 5 per cent YoY and 14 per cent QoQ. We have assumed RIL’s GRMs at $8.4/bbl, down 1.2 per cent YoY and 19.2 per cent QoQ. EBITDA to increase 6 per cent YoY but down 6 per cent QoQ which reflects lower refining margins and likely inventory losses due to declining crude prices QoQ.”
(With inputs from agencies)
