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The Sensex ended higher by 141.52 points or 0.41 per cent to 34,297.47 and the Nifty closed up by 44.6 points or 0.42 per cent at 10,545.50 on positive global cues . Domestic sentiment was also buoyed as wholesale inflation eased to a six-month low of 2.84 per cent in December.
BSE sectoral indices
Punjab National Bank fell for a second consecutive session after the state-run lender said it had unearthed $1.77 billion in fraudulent transactions, dragging down other state-run lenders.
PNB shares ended 12.9 per cent lower, hitting their lowest close since October 23, after falling as much as 14.2 per cent on Wednesday. The Nifty PSU bank index lost 1.1 per cent.
As per provisional data, foreign portfolio investors (FPIs) had sold shares worth Rs 728.71 crore on a net basis, while domestic institutional investors (DIIs) too sold equities to the tune of Rs 152.39 crore on Wednesday.
Bank shares broadly recovered today a day after being hit by news of the country's biggest-ever bank fraud, although Punjab National Bank - the lender at the centre of a $1.77-billion scam - has lost a fifth of its market value. Click here to read more
The government will change the base year to 2017-18 for the calculation of GDP and IIP numbers, while for retail inflation the year will be revised to 2018. C lick here to read more
The Statistics Ministry has proposed the new base year for GDP and IIP as 2017-18 while for CPI it will be 2018.
The Sensex was trading higher by 138.54 points or 0.41 per cent at 34,294.49 and the Nifty up 47.2 points or 0.45 per cent at 10,548.10.
However, the BSE index fell from intraday high of 34,535.08 due to fresh selling pressure in capital goods, consumer durables, infrastructure and realty stocks amid firm global cues. However, oil & gas, metal, IT and FMCG stocks remained investors' favourite.
PNB case : Punjab National Bank has demanded a concrete repayment action plan from Nirav Modi, the prime accused in the Rs 11,300-crore 'Letter of Undertaking' scam. Click here to read more
A replay of the Ketan Parekh scam?
The Punjab National Bank (PNB) scam has an uncanny similarity to the Ketan Parekh (KP) bank scam in 2001. Click here to read more
PNB fraud : Axis Bank on Thursday said it ‘sold down all the buyers' credit transactions’ undertaken by its Hong Kong branch with Punjab National Bank. Click here to read more
Axis Bank said it is an active participant in the secondary market for buyer’s credit transactions and it has sold “all the referred transactions’’.
The benchmark BSE Sensex was trading higher by nearly 220 points on strong global cues and as WPI inflatio n dropped to a six-month low of 2.84 per cent in January.
The 30-share BSE index Sensex was up 215.99 points or 0.63 per cent at 34,371.94 and the 50-share NSE index Nifty up 65.4 points or 0.62 per cent at 10,566.30.
Top five Sensex gainers were ICICI Bank, Infosys, Bajaj Auto, PowerGrid and HDFC, while the major losers were Hero MotoCorp, Bharti Airtel, Kotak Bank, Tata Steel and IndusInd Bank.
SBI slips on asset quality : Weak loan growth and sharp slippages led to SBI reporting a loss of ₹2,146 crore in the latest December quarter. Read more
DLF: Short-term view is positive
The medium-term uptrend will be in place as long as the stock trades above ₹215. Investors with a high-risk profile and medium-term perspective can consider buying the stock with a stop-loss at ₹205. Click here to read more
Nifty call : Traders should desist from taking fresh positions as long as the contract trades in this sideways range. Fresh long positions can be initiated with a fixed stop-loss on a strong rally above 10,575 levels. Click here to read more
Inability to sustain higher and extend the upmove reflects lack of strong follow-through buying in the market.
Municipal bonds: The Greater Hyderabad Municipal Corporation has raised Rs 200 crore by issuing bonds on private placement basis using the BSE BOND platform. Read more
Grasim net down : Grasim Industries has reported 17 per cent fall in December quarter net profit at Rs 787 crore (Rs 952 crore), largely due to wider loss in its subsidiary Idea Cellular. More on this
The share of loss inherited by Grasim from Idea Cellular increased multi-fold in the December quarter to Rs 359 crore against a loss of Rs 18 crore logged in the same period last year.
WPI inflation : Annual wholesale price inflation last month slowed to 2.84 per cent from a year earlier, from a provisional 3.58 per cent rise in December. Click here to read more
Wholesale food prices in January rose 1.65 per cent year-on-year, compared with a 2.91 per cent rise a month earlier.
The Sensex and Nifty were trading higher by nearly 0.7 per cent on WPI data and positive global cues . The 30-share BSE index Sensex gained 215.69 points or 0.63 per cent to 34,371.64 and the 50-share NSE index Nifty jumped 68.2 points or 0.65 per cent to 10,569.10.
Top five Sensex gainers were ICICI Bank, Infosys, YES Bank, HDFC and State Bank of India, while the major losers were Hero MotoCorp, Asian Paints, Kotak Bank, Sun Pharma and HDFC Bank.
Among BSE sectoral indices, metal index gained the most by 1.65 per cent, followed by IT 0.92 per cent, banking 0.78 per cent and TECk 0.69 per cent.
Dollar hits 15-month low : The dollar dropped below Wednesday's nadir of 106.725 yen and fell as low as 106.42 yen, its weakest level since November 2016. Read more
Dollar falls at low as 106.42 yen. File Photo
Jewellery stocks lose shine: Shares of Gitanjali Gems plunged up to 19 per cent as the company has come under the scanner of various investigating agencies following PNB’s declaration of nearly Rs 11,400-crore fraud. More on this
Gitanjali Gems stock opened on a bearish note at Rs 48, then lost further ground to touch a low of Rs 47.50, down 18.94 per cent over its previous closing price.
Rupee hits 2-week high : The rupee gained another 17 paise to trade at a two-week high of 63.92 on dollar selling by exporters and banks amid firm equities. More on this
Dollar’s weakness against other currencies overseas also supported the rupee sentiment.
PNB tanks nearly 9% : Shares of Punjab National Bank fell as much as 8.6 per cent to Rs 133.50, lowest since October 24. More on this
ED to probe PNB case : The Enforcement Directorate will probe the possibility of money laundering in a $1.77 billion fraud case at Punjab National Bank. Click here to read more
File Photo of a Punjab National Bank branch
Crude oil: WTI crude futures were at $61.02 a barrel at 0147 GMT, up 42 cents, or 0.7 per cent from their last settlement, adding to a 2.4 per cent gain in the previous session. Brent crude futures were at $64.64 per barrel, up 28 cents, or 0.4 per cent, extending Wednesday's 2.6 per cent rise. More on this
Saudi Arabia says it is committed to cut throughout 2018. File Photo
Nikkei surges : The Nikkei advanced 1.6 per cent to 21,497.83 in midmorning trade, after tumbling to a four-month low on Wednesday and briefly dipping below its 200-day moving average. Read more
Japanese stocks have seen volatile trade in recent weeks. File Photo
The Sensex surged 270 points to hit intraday high of 34,425.65 and the Nifty jumped 86 points to 10,586.80 on strong global cues. Strengthening of rupee against the dollar also boosted the domestic sentiment.
At 10.55 am, the 30-share BSE index Sensex was up 231.7 points or 0.68 per cent at 34,387.71 and the 50-share NSE index Nifty was up 73.6 points or 0.7 per cent at 10,574.50.
Barring consumer durables, all other BSE sectoral indices were trading in the green.
Top five Sensex gainers were ICICI Bank, Infosys, Adani Ports, YES Bank and HDFC, while the major losers were Hero MotoCorp, Asian Paints, Kotak Bank, ONGC and Sun Pharma.
Asian markets : Asian stocks gained on Thursday after Wall Street brushed aside strong US inflation data and surged. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1 per cent. Click here to read more
Australian stocks climbed 0.8 per cent.
Day Trading Guide : Supports and resistances for Nifty 50 futures and seven key stocks are given below for intra-day trading. Click here to read the full text
Today's stock pick : KRBL (₹637.4)
Investors with a short-term perspective can buy the stock of KRBL at current levels. The stock has been in an intermediate-term uptrend since taking support at ₹375 in late June 2017. Read more
India Inc's performance : A large part of India Inc’s performance in the December quarter has shown improvement, especially on the profitability front. Click here to read more
India Inc all cheers for UnionBudget2018
Aster DM Healthcare : Investors with a high risk appetite and long-term perspective can subscribe to the company's IPO of Aster DM Healthcare. Click here to read more
Aster DM Healthcare IPO opens on February 12.
AstraZeneca : AstraZeneca Pharma India has launched an anti-diabetic tablet ‘Xigduo XR’ used for the treatment of type 2 diabetes in adults. The company shares were trading down by 0.04 per cent at Rs 1,049.95. Read more
What to watch : Shares of MOIL will remain in investors’ focus, as they will turn ex-date for the proposed buyback on February 16. More on this
Stock in focus : IRB Infrastructure said its special purpose vehicle, KG Tollway Pvt Ltd, has achieved financial closure for the ₹1,526-crore highway BOT project in Rajasthan. Read more
9.10 am
The S&P BSE Sensex gained 76.92 points or 0.23 per cent to 34,232.87 and the Nifty50 rose 37 points or 0.35 per cent to 10,537.90.
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