Markets Live: Sensex spurts 323 points; Tata Steel, Sun Pharma rally

Nifty ends at 10,491; metal, pharma indices steal the show

4.05 pm

Closing bell: Benchmark indices ended higher by over 1 per cent, tracking gains in global equities, as investors bought the shares of recent underperformers such as pharma and financials.

The Sensex closed higher by 322.65 points or 0.95 per cent at 34,142.15. The BSE index ended 0.39 per cent higher for the week. The Nifty ended up by 108.35 points or 1.04 per cent at 10,491.05. The NSE index gained 0.37 per cent for the week.

BSE sectoral indices

NSE sectoral indices

Gainers, losers

Click here to view the full table

4 pm

Global markets: A stronger dollar and slightly higher global borrowing costs kept world shares subdued on Friday and left gold limping toward its worst week since December. More on this

Europe’s main London, Frankfurt and Paris markets barely budged in early moves, keeping MSCI’s 47- country world index just in the black on the day but facing its third red week in the last four.

 

3.50 pm

European shares were little changed as investors digested a flurry of earnings updates, with French auto parts maker Valeo and Royal Bank of Scotland among the top fallers. Read more

The pan-European STOXX benchmark index was flat in percentage terms by 0817 GMT, while the UK’s FTSE dipped 0.2 per cent and Germany’s DAX was flat.

 

3.40 pm

India's government fully endorses a dramatic move by domestic exchanges to cut off data to global bourses. Click here to read more

Singapore Exchange is exploring a tie-up with NSE in GIFT City. File Photo   -  Reuters

 

3.25 pm

Much to depositors’ chagrin, banks have been a little too nimble in cutting deposit rates over the last two to three years. But the good news now is that a few banks have already started increasing deposit rates. Click here to read more

 

3.15 pm

Benchmark indices were trading higher by over one per cent tracking strong Asian cues after comments from a Federal Reserve official eased worries about faster rate hikes in the United States and sparked a rebound in recently hit sectors such as drug makers.

The 30-share BSE index Sensex was up 325.33 points or 0.96 per cent at 34,144.83 and the 50-share NSE index Nifty up 107.70 points or 1.04 per cent at 10,490.40.

 

BSE sectoral indices

NSE sectoral indices

 

Domestic equities have been under pressure recently amid continued worries about the fallout from a $1.77-billion fraud that hit Punjab National Bank, and concerns that the central bank could soon move to raise interest rates to contain accelerating inflation.

“US bond yields have fallen and so sentiment is higher," said Anita Gandhi, whole time director, Arihant Capital Markets.

“Price correction has happened to a large extent in pharma, so market is looking at some value-buying.”

 

3.05 pm

Gold prices recovered by Rs 130 to Rs 31,480 per 10 grams on buying by local jewellers even as the metal weakened overseas. Silver reclaimed the Rs 40,000-mark. More on this

Globally, gold fell 0.26 per cent to $1,327.90 an ounce and silver by 0.18 per cent to $16.56 an ounce in Singapore

 

2.50 pm

The euro is set to post its second biggest weekly loss in nearly four months as investors trim positions before a big week for global currency markets from a European politics perspective. Click here to read more

The euro is set to post its second biggest weekly loss in nearly four months

 

2.35 pm

Sembcorp Energy India has filed draft papers with the Securities and Exchange Board of India to float an initial public offering. Read more

IPO

 

2.20 pm

Parenting is not just about taking care of the child’s emotional needs; its is also about securing the child’s future financially. Read more

 

1.55 pm

Investing in mutual funds through SIP route has some key advantages — regular investment in small doses, and averaging the cost of purchase. Click here to read more

 

1.40 pm

Benchmark indices were trading higher by over one per cent tracking strong Asian cues after comments from a Federal Reserve official eased worries about faster rate hikes in the United States and sparked a rebound in recently hit sectors such as drug makers.

The 30-share BSE index Sensex was up 321.23 points or 0.95 per cent at 34,140.73 and the 50-share NSE index Nifty up 106.35 points or 1.02 per cent at 10,489.05.

 

BSE sectoral indices

NSE sectoral indices

 

Domestic equities have been under pressure recently amid continued worries about the fallout from a $1.77-billion fraud that hit Punjab National Bank, and concerns that the central bank could soon move to raise interest rates to contain accelerating inflation.

“US bond yields have fallen and so sentiment is higher," said Anita Gandhi, whole time director, Arihant Capital Markets.

“Price correction has happened to a large extent in pharma, so market is looking at some value-buying.”

Top gainers, losers

Click here to view the full table

The Nifty Pharma index rose as much as 2.8 per cent in its biggest intraday percentage gain since February 8. It had declined about 8 per cent since the start of the year, as of Thursday's close. Financials also gained, with HDFC Bank and ICICI Bank among the biggest contributors to the rise.

1.30 pm

Nifty futures: Short-term traders with high risk appetite can go long on a break above 10,420. Stop-loss can be placed at 10,390 for the target of 10,480. Click here to read more

 

1.15 pm

Motor Insurance is mandatory under law in India. However, the mandatory part is the ‘liability only’ policy that covers death and property damage to third party. Click here to read more

istock.com/Tatomm   -  Tatomm

 

12.55 pm

Gold prices slipped on Friday and were headed for their sharpest weekly drop in 2-1/2 months as the dollar strengthened during the week. Read more

Spot gold was down 0.2 per cent at $1,328.90 an ounce as of 0338 GMT, heading for a fifth session of fall in six.   -  Visual3Dfocus/shutterstock.com

 

 

12.40 pm

Oil prices edged up, supported by lower US crude inventories. WTI crude futures were at $62.89 a barrel at 0206 GMT, up 12 cents, or 0.2 percent, from their last settlement. More on this

BL29_SHALE-OIL

 

12.25 pm

Benchmark indices were trading higher by nearly one per cent tracking strong Asian cues after comments from a Federal Reserve official eased worries about faster rate hikes in the United States and sparked a rebound in recently hit sectors such as drug makers.

The 30-share BSE index Sensex was up 235.81 points or 0.7 per cent at 34,055.31 and the 50-share NSE index Nifty up 78.55 points or 0.75 per cent at 10,461.25.

 

Domestic equities have been under pressure recently amid continued worries about the fallout from a $1.77-billion fraud that hit Punjab National Bank, and concerns that the central bank could soon move to raise interest rates to contain accelerating inflation.

“US bond yields have fallen and so sentiment is higher," said Anita Gandhi, whole time director, Arihant Capital Markets.

“Price correction has happened to a large extent in pharma, so market is looking at some value-buying.”

The Nifty Pharma index rose as much as 2.8 per cent in its biggest intraday percentage gain since February 8. It had declined about 8 per cent since the start of the year, as of Thursday's close. Financials also gained, with HDFC Bank and ICICI Bank among the biggest contributors to the rise.

 

12.15 pm

The dollar sagged broadly after its recovery this week faded as US Treasury yields declined from their recent peaks. The dollar index against a basket of six major currencies was little changed at 89.815. More on this

 

12 noon

NSE says that derivative trading in Fortis Healthcare would be stopped if the company fails to submit its financial results for last two quarters by March 1. Read more

 

11.45 am

Shares of pharma co Merck Ltd climbed as much as 5.1 per cent to Rs 1,520 on strong results. Read more

Merck stock posted its biggest intraday percentage gain since February 12.

 

11.30 am

The Sensex was trading higher by nearly 130 points due to fresh positions created by investors with the beginning of March F&O series coupled with firm Asian cues.

The 30-share BSE index Sensex was up 126.71 points or 0.37 per cent at 33,946.21 and the 50-share NSE index Nifty up 47.95 points or 0.46 per cent at 10,430.65.

Barring IT and TECk, all other BSE sectoral indices were trading in the positive zone. Among them, metal index was the star-performer followed by healthcare, power and banking.

 

Top five Sensex gainers were Tata Steel, YES Bank, Dr Reddy's, Sun Pharma and Bharti Airtel, while the major losers were TCS, Infosys, Asian Paints, M&M and Hero MotoCorp.

 

Top gainers, losers

Click here to view the full table

 

11.15 am

Avenue Supermarts rose as much as 4.3 per cent to Rs 1,294 as Goldman Sachs has raised the price target on the stock to Rs 1,672 from Rs 1,611 with 'buy' rating. Click here to read more

Goldman Sachs expects the company to open 24, 28 and 30 stores in FY 2019, 2020 and 2021 respectively, after CEO's comments in a recent interview.

 

11.05 am

The Nikkei rose 0.3 per cent to 21,791.68 in midmorning trade. For the week, the benchmark index was up 0.4 per cent. More on this

The Nikkei rose 0.3 per cent to 21,791.68 in midmorning trade. For the week, the benchmark index was up 0.4 per cent.   -  Reuters

 

 

10.50 am

Algo case: SEBI has questioned a few current and former officials of the NSE in the past couple of weeks and it is likely that the regulator may summon former top officials and board members of the exchange for a final line of inquiry and statement. Click here to read more

 

10.35 am

SEBI has allowed two additional measures for listed companies to comply with the 25 per cent minimum public shareholding norms. Click here to read more

The fake notice bearing the regulator’s logo and purportedly addressed to the National Stock Exchange was circulated on various WhatsApp groups and other social media platforms on February 21.

 

10.20 am

Federal Bank has approved acquiring a strategic minority stake of 26 per cent in Equirus Capital Pvt Ltd subject to statutory and regulatory approvals and satisfactory completion of financial and legal due diligence.  The shares were trading up by 4.28 per cent at Rs 93.75 on the BSE. Read more

 

10.10 am

Asian shares rebounded as comments from a Federal Reserve official eased worries that the central bank might raise rates more aggressively this year. Click here to read more

 

10 am

The Sensex was trading higher by over 120 points on heavy buying in healthcare, metal and banking stocks amid firm Asian cues. The 30-share BSE index Sensex was up 125.28 points or 0.37 per cent at 33,944.78 and the 50-share NSE index Nifty up 36.95 points or 0.36 per cent at 10,419.65.

Among BSE sectoral indices, healthcare was the star-performer and was up 1.92 per cent, followed by metal 1.59 per cent, banking 0.77 per cent and power 0.54 per cent.

 

Top five Sensex gainers were Sun Pharma, Tata Steel, Bharti Airtel, Dr Reddy's and YES Bank, while the major losers were Hero MotoCorp, L&T, M&M, Asian Paints and Coal India.

 

9.50 am

Today's stock pick: Ipca Laboratories (Rs 662.70)

Short-term outlook is bullish for the stock. It can extend the uptrend and reach the price targets are ₹680 and ₹700 in the ensuing trading sessions. Traders can buy with a stop-loss at ₹650. More on this

 

9.45 am

Day Trading Guide: Supports and resistances for Nifty 50 futures and seven key stocks are given in the table that can help in intra-day trading. Click here to view the full table

PO07HDFC1

 

9.40 am

Yash Papers MD has entered into a memorandum of understanding with the Uttar Pradesh Government for ₹73.44 crore. The stock was trading higher by 5.5 per cent at Rs 74.20 on the BSE. Read more

 

 

9.30 am

Dilip Buildcon has received a letter of award from Ircon International for a new EPC project worth ₹157.23 crore in Karnataka. The company shares were trading up by 1.38 per cent at Rs 969.85 on the BSE. Read more

 

9.20 am

Shares of FDC will turn ex-date on Monday for the proposed buyback. The stock was trading up 0.51 per cent at Rs 286 on the BSE. Read more

 

 

9.15 am

The Sensex opened up by 12.5 points at 33,832 against the previous close of 33,819.50 and the Nifty rose 25.4 points at 10,408.10 against Thursday's close of 10,382.70.

9.05 am

US stocks: The Dow and S&P 500 advanced on Thursday to halt a two-session losing skid, buoyed by gains in industrial and energy shares as US Treasury yields eased, while the Nasdaq lost ground for a third straight session. Read more

Major indexes advanced early as worries about a faster pace of interest rate hikes by the US Federal Reserve were eased by comments by St. Louis Fed President James Bullard, who expressed concerns that a “bunch of hikes” could turn Fed policy restrictive

 

Published on February 23, 2018