Markets

News Details

( 07 Dec 2018)
Sensex, Nifty firm; Bank, Auto stocks rise

Indian benchmarks continued to trade in green during the noon trading session led by a rise in Auto and Bank stocks while decline in metals, energy and PSU banks. Kotak Mahindra Bank, Asian Paints, and Zee Entertainment were the top gainers, while Yes Bank, Wipro, HCL Tech and GAIL lost the most. The rupee is trading on a firm note having risen to a high of 70.61 against the dollar in intra-day trade so far, up from its previous close of 70.90 against the greenback.

Among individual shares, shares of Dilip Buildcon rose 4.4 percent as company bagged order worth Rs 1,000 crore from Mahanadi Coalfield.

On the gainer side, shares of the Kotak bank posted their sharpest surge in nearly nine years after the news of Warren Buffett's Berkshire Hathaway to Buy Stake in Kotak Mahindra Bank. This was the stock's sharpest intraday gain since February 2010. Whereas, Shares of Navkar Corporation have hit an all-time low of Rs 41.35 per share, dropping 17% on Friday, and falling 26% in past two trading sessions on BSE on concerns of a weak outlook.

At 14:34 hours, the 30-share benchmark index was trading at 35502.46 up by 190.33 points or by 0.54 per cent then NSE Nifty was at 10640.45 up by 39.3 points or by 0.37 per cent. Sensex touched intraday high of 35553.46 and intraday low of 35378.27 The NSE Nifty touched intraday high of 10656.65 and intraday low of 10599.35.

The top gainers of the BSE Sensex pack were Kotak Mahindra Bank Ltd. (Rs. 1252.00,+5.97%), Infosys Ltd. (Rs. 683.00,+2.21%), Adani Ports & Special Economic Zone Ltd. (Rs. 371.65,+2.13%), Asian Paints Ltd. (Rs. 1319.50,+1.89%), Bajaj Auto Ltd. (Rs. 2766.45,+1.74%), among others.

The top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 413.00,-1.69%), YES Bank Ltd. (Rs. 165.80,-1.49%), Bharti Airtel Ltd. (Rs. 300.35,-1.23%), Tata Steel Ltd. (Rs. 505.35,-1.12%), IndusInd Bank Ltd. (Rs. 1553.85,-1.01%), among others.

Among the sectors, Bank index was at 29423.93 up by 248.29 points or by 0.85%. Kotak Mahindra Bank Ltd. (Rs. 1251.40,+5.92%), Bank of Baroda (Rs. 105.95,+0.81%), ICICI Bank Ltd. (Rs. 350.35,+0.81%), Axis Bank Ltd. (Rs. 604.55,+0.70%),.

On the flip side, Metal index was at 11437.79 down by -101.53 points or by -0.88%. Steel Authority of India (SAIL) Ltd. (Rs. 50.80,-4.15%), Jindal Steel & Power Ltd. (Rs. 146.75,-1.77%), NMDC Ltd. (Rs. 91.00,-1.36%), JSW Steel Ltd. (Rs. 301.65,-1.15%), Tata Steel Ltd. (Rs. 505.35,-1.12%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2745 , shares advanced were 1017 while 1557 shares declined and 171 were unchanged.