Closing Bell: Sensex up 191 pts, Nifty ends above 10,700 on global cues

Closing Bell: Sensex up 191 pts, Nifty ends above 10,700 on global cues. The market has been holding early gains due to buying in HDFC (up 1.5 percent), HDFC Bank (0.83 percent), TCS (1.5 percent), Infosys (1 percent) and ITC (0.89 percent).

The market has been holding early gains due to buying in HDFC (up 1.5 percent), HDFC Bank (0.83 percent), TCS (1.5 percent), Infosys (1 percent) and ITC (0.89 percent).

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Market Closing: Benchmark indices closed higher following positive global cues and the correction in crude oil prices.

The 30-share BSE Sensex was up 190.66 points at 35,160.36 and the 50-share NSE Nifty gained 47.10 points at 10,739.40.

About 1,397 shares advanced against 1,262 declining shares on the BSE. Nifty Midcap was up 0.8 percent.

Repco Home Finance, DHFL, Marico, Vijaya Bank, Mishra Dhatu, Balrampur Chini, Dhampur Sugar, CG Power, Indiabulls Real Estate, Indiabulls Ventures, Bombay Dyeing and Jet Airways gained up to 8 percent.

Can Fin Homes, InterGlobe Aviation, PC Jeweller, Minda Corporation, UPL, IDBI Bank and HDIL fell up to 19 percent.

Buzzing: PC Jeweller fell more than 48 percent from its highs despite the news of share buyback.

The stock gained nearly 18 percent in morning after the company said it would consider share buyback along with March quarter earnings in next month, but it crashed 20 percent in second half of session on profit booking.

Rupee Outlook: Emkay Research said analysis reveals two important inferences. First, INR/USD movement demonstrates rising inflexibility post the taper tantrum in 2013, justifying RBI's preference for accumulation of Fx reserves. Second, India's excess Fx reserves swelled to a high of USD 110 billion in early 2016. These two factors have created positive market conditions, including a sharp decline in forward premium and lower interest rates.

But, these variables are reversing now. Importantly, while the total reserves at USD 400 billion are at a peak, excess reserves have declined sharply to USD 9 billion. Hence, there is a possibility of India 10-year G-Sec yield breaching our estimated fair value of 8 percent. Given the backdrop of re-emergence of twin deficits and receding global liquidity, we maintain our INR/USD target at 68-70 by the end of FY19.

Crude Update: Oil prices dipped after a rising rig count in the United States pointed to higher production there, but markets held near their highest in over three years and remained set for a second straight month of gains.

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Oil prices were supported by supply concerns amid prospects that the United States could reimpose sanctions on Iran, while OPEC-led producers continue to withhold output.

Brent crude futures, the international benchmark, dipped 1.33 percent, to USD 73.65 a barrel. Prices climbed as high as USD 75.47 last week, levels not seen since November, 2014.

US West Texas Intermediate (WTI) crude futures were at USD 67.35 a barrel, down 1.10 percent, from their last settlement, reports Reuters.

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Market Live: Sensex gains 200 pts on HDFC twins, tech, FMCG stocks support

Market Live: Sensex gains 200 pts on HDFC twins, tech, FMCG stocks support. The market has been holding early gains due to buying in HDFC (up 1.5 percent), HDFC Bank (0.83 percent), TCS (1.5 percent), Infosys (1 percent) and ITC (0.89 percent).

Buzzing: Shares of Meghmani Organics gained 3.6 percent intraday as the company acquired 24.97 percent equity stake in Meghmani Finechem.

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The company’s wholly-owned subsidiary Meghmani Agrochemicals (MAPL) gave successful exit to International Finance Corporation (IFC) by acquiring 24.97 percent equity stake held by IFC in Meghmani Finechem. The total consideration paid for the said acquisition is Rs 2,212 million.

Results Date: L&T Infotech said a meeting of the board of directors will be held on May 23 to consider, approve and take on record, the audited standalone and consolidated financial results for the quarter and year ended March 31, 2018, and to consider and recommend final dividend for the financial year 2017-18, if any.

Market Update: Benchmark indices remained strong in trade, with the Sensex rising 205.39 points to 35,175.09 and the Nifty climbing 54.70 points to 10,747.

HDFC twins, FMCG, and technology stocks continued to support the market while selling pressure in Reliance Industries (down 2.9 percent), Axis Bank (3.81 percent) and ICICI Bank (0.3 percent) capped gains. About two shares advanced for every share falling on the BSE.

Benchmark indices opened higher, following positive Asian cues and after RBI further liberalized ECB policy.

The 30-share BSE Sensex was up 55.15 points at 35,024.85 and the 50-share NSE Nifty rose 23.60 points to 10,715.90. Reliance Industries was down 1 percent after Q4 earnings.

SBI, HDFC, HDFC Bank, Yes Bank, Bharti Airtel, Maruti Suzuki, Bajaj Auto, Wipro and Eicher Motors gained up to 1.5 percent. The nifty Midcap index was up 70 points.

NIIT Technologies, Thyrocare, Merck, Jagran Prakashan, Idea Cellular, UPL, Equitas Holdings, PC Jeweller, Dabur India, Britannia Industries and InterGlobe Aviation gained up to 5 percent. Can Fin Homes and Vakrangee were under pressure.

Crude Update: Oil prices edged lower as a rising rig count in the United States pointed to higher production, but prices held near more than three-year highs and were on track to rise for a second consecutive month.

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The oil complex has been driven by supply concerns amid prospects of the United States reimposing sanctions on Iran, while OPEC-led producers continue to withhold supplies.

Brent crude futures, the international benchmark, dipped 0.68 percent, to USD 74.13 a barrel. Prices climbed as high as USD 75.47 last week, levels not seen since November 2014.

US West Texas Intermediate (WTI) crude futures were at USD 67.89 a barrel, down 0.32 percent, from their last settlement, reports CNBC.

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Earnings, global markets to set the trend on D-Street; 3 stocks with up to 15% return potential

On the macros side, we will continue to look at bond yields and crude prices. We believe these are two biggest factors which can dampen the Indian market rally, says Sumit Bilgaiyan, Founder of Equity99.

The Dalal Street could watch out for reactions of Q4 numbers of Nifty companies. HDFC, Kotak Mahindra Bank will announce Q4 earnings on April 30. Dabur and Hindustan Media Ventures will post their earnings the next day.

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The market will be closed on Tuesday due to Maharashtra Day. So, we will have only four trading days in this week.

On the macros side, the market will continue to look at bond yields and crude prices. We believe these are two biggest factors which can dampen the Indian market rally.

In US and Europe, results season is still going on. Particularly post Caterpillar and GE’s disappointing numbers we will closely watch for coming companies numbers, especially related to the old economy.

In FANG stock, Facebook has posted a very good set of numbers. We might see some relief rally in high beta US counters on back of this. So, in nutshell, next week's trend will be decided on the basis of quarterly earnings, the trend in global markets.

Salasar Techno Engineering enjoys 42% market share and all the major telecom operators are its customers having a long-term business relationship. The company has a technical tie-up with Rambol International for manufacturing and designing world-class telecom towers of various qualities and range.

The current EBITDA margin is around 10%, which is expected to increase up to 11-11.5% on the back of huge order book, consistent demand and new projects for which the company has already submitted a bid.

In FY17 Salasar Techno doubled its galvanizing capacity from 50,000 metric tons to 1,00,000 metric tons. Salasar Techno currently has an EV/EBIT of 9.72%.

At the current market price of Rs 387, the company is trading at 11x multiple for FY19. We are recommending a buy with a target of Rs 445.

Vinyl Chemicals is a Pidilite group company. It is in the business of selling various specialty chemicals mainly to textile, paints and adhesive sectors. Vinyl Acetate Monomer (VAM) was manufactured in the plant located at Mahad in Raigad District, Maharashtra, India and was sold all over the world. Vinyl had a major share of the business of this product in India.

During 2007, the said plant was de-merged to resultant parent company Pidilite Industries for strategic reasons. However, the company's main focus remains in its product “Vinyl Acetate Monomer" (VAM). The VAM is now imported/sourced from various Global suppliers and distributed/traded in India.

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Vinyl Chemicals India will maintain its major presence in the field of trading of various Speciality Chemicals in future all over the world. Currently, the stock is trading at 20x which we think is quite an attractive level given the bright future prospects and pedigree of Pidilite group.

Vinyl Chemicals will yield maximum benefits from structural changes are happening in the chemical industry. Be it production cuts from Chinese companies or continuously rising demand from Asian conglomerates. Vinyl Chemicals has all the ingredients to outpace the industry growth. We recommend a buy with a target of Rs 131.

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Market Live: Sensex up over 250 points, Nifty hovers around 10,700; IT stocks take a hit

Market Live: Sensex up over 250 points, Nifty hovers around 10,700; IT stocks take a hit. Axis Bank took a hit of 3 percent in the first few minutes, after the bank reported dismal set of numbers for the March quarter as provisions trebled.

Axis Bank took a hit of 3 percent in the first few minutes, after the bank reported dismal set of numbers for the March quarter as provisions trebled

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IPO plans: The Lodha Group is said to be looking to raise more than Rs 5,000 crore through an Initial Public Offering (IPO).

An Economic Times report stated that Rs 3,750 crore will be raised through issuance of fresh shares, while the balance will come in through offer for sale.

Rallis India gains: Shares of Rallis India slipped 5 percent intraday Friday on the back of poor fourth quarter numbers.

The company reported 37 percent decline in its consolidated net profit at Rs 19.58 crore for the quarter ended March 2018 against Rs 31.01 crore in the same quarter last year.

The total income of the company increased marginally to Rs 373.84 crore versus Rs 371.85 crore.

Buzzing Stock: Shares of Thermax gained 3.4 percent intraday Friday on the back of order win worth Rs 279 crore.

Thermax Group has received an order worth Rs 279 crore from a leading public sector fertiliser company to set up captive cogeneration plant at Trombay.

The project is for a GTG (Gas Turbine Generator) - cum - HRSG (Heat Recovery Steam Generator) based cogen plant of 50MW capacity on an EPC basis.

Rupee Update: The Indian rupee opened lower by 8 paise at 66.83 per dollar on Friday versus previous close 66.75.

After remaining under pressure in the past few sessions, yesterday, the rupee consolidated against the US dollar. Weakness in the rupee had been triggered on back of sharp rise in global crude oil prices and fund outflow by FIIs in the equity and debt segment. Yesterday, they sold another USD 100 million, now getting the cumulative figure for this month to almost USD 2billion, said Motilal Oswal.

Market Opens: Equities have begun the day on a good note, with the Sensex rising over 100 points, while the Nifty managed to open above 10,650-mark.

The Sensex is up 143.63 points at 34857.23, while the Nifty is up 56.20 points at 10674.00. The market breadth is positive as 333 shares advanced, against a decline of 171 shares declined, while 54 shares were unchanged.

Among stocks, Axis Bank took a hit of 3 percent in the first few minutes, after the bank reported dismal set of numbers for the March quarter as provisions trebled. Meanwhile, IDBI Bank is also trading lower by 4 percent after its ex-CMD has been booked in a fraud case.

Meanwhile, global markets were trading higher on the back of positive handover from US.

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Asian shares edged higher on Friday, after US equities were buoyed by solid quarterly earnings and a rebound in technology stocks, while the euro languished near three-month lows after the European Central Bank kept interest rates unchanged.

US stocks advanced on Thursday with each of Wall Street’s major indexes ending the session up 1 percent or higher, boosted by solid earnings results and a rebound in technology stocks as U.S. bond yields pulled back.

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Market Live: Nifty eyes 10,600 ahead of expiry; Realty index outshines after Mumbai Development Plan

Market Live: Nifty eyes 10,600 ahead of expiry; Realty index outshines after Mumbai Development Plan. Indiabulls Real Estate jumped 7 percent while Sobha, DLF, Phoenix Mills and Godrej Properties gained up to 2 percent.

Shares of Mahindra & Mahindra Financial Services touched a 52-week high of Rs 532, rising 4.8 percent on the back of robust Q4 numbers.

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The company's Q4 (Jan-March) consolidated net profit rose 79.4 percent at Rs 513.1 crore against Rs 286 crore, in the same quarter last year.

Revenue was up 17.6 percent at Rs 2,497 crore versus Rs 2,123.1 crore.

Market Update: The market continued to trade mildly higher amid consolidation ahead of expiry of futures & options contracts for the month of April.

The Nifty is gradually inching towards 10,600 on the day of expiry while Realty is the only major gainer among sectoral indices, rising 1.5 percent after approval to Mumbai Development Plan 2034.

Indiabulls Real Estate jumped 7 percent while Sobha, DLF, Phoenix Mills and Godrej Properties gained up to 2 percent.

Buzzing: Shares of Mahindra & Mahindra Financial Services touched a 52-week high of Rs 532, rising 4.8 percent on the back of robust Q4 numbers.

The company's Q4 (Jan-March) consolidated net profit rose 79.4 percent at Rs 513.1 crore against Rs 286 crore, in the same quarter last year.

Revenue was up 17.6 percent at Rs 2,497 crore versus Rs 2,123.1 crore.

Gold Update: Gold prices were little changed after falling to their lowest in five weeks in the previous session, pressured by a stronger dollar, which held near more than three-month highs, and a rise in US Treasury yields.

Spot gold was up 0.05 percent at USD 1,323.66 per ounce, after falling by as much as 0.9 percent to USD 1,318.51 in the previous session, its lowest since March 21.

US gold futures gained 0.1 percent USD 1,324.7 an ounce, reports CNBC.

Oil prices were trading higher, with the US West Texas Intermediate (WTI) futures rising 0.53 percent to USD 68.41 a barrel.

Brent crude oil futures were 0.62 percent higher at USD 74.46 a barrel. The contract hit a high going back to November 2014 at USD 75.47 on Tuesday.

Rupee Recovers: The rupee recovered from 14-month low to trade higher by 11 paise at 66.79 against the US dollar on fresh selling of the dollar by exporters and banks amidst higher opening in domestic equity market.

Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee.
 

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Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.

The rupee opened higher by 2 paise at 66.88 against the US dollar at the Interbank Foreign Exchange market.

The domestic currency had tumbled 52 paise to hit a 14-month low of 66.90 against the US dollar, the third biggest single-day fall for the domestic currency this year, amid surging crude prices coupled with headwinds on the macro-economic front in form of widening trade deficit.

Benchmark indices opened flat on Thursday, the expiry day for April derivative contracts.

The 30-share BSE Sensex was up 46.40 points at 34,547.67 and the 50-share NSE Nifty rose 5.40 points to 10,575.90.

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Market Live: Sensex, Nifty consolidate amid global weakness; Bharti Airtel jumps 2%

Market Live: Sensex, Nifty consolidate amid global weakness; Bharti Airtel jumps 2%. Bharti Airtel, Bharti Infratel, HPCL, BPCL and Reliance Industries were early gainers.

Bharti Airtel, Bharti Infratel, HPCL, BPCL and Reliance Industries were early gainers.

Rupee Update: The rupee depreciated 28 paise to 66.66 against the US dollar the interbank foreign exchange due to appreciation of the greenback amid rising US bond yields and surge in global crude oil prices.

Also, a lower opening in the domestic equity market too weighed on the investor sentiment.

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Dealers also attributed the rupee's fall to increased demand for the US currency from importers due to month-end demand and sustained foreign capital outflows.

The rupee yesterday recovered by 10 paise to 66.38 against the US dollar due to fresh selling of the American currency by exporters and banks.

The market is seeing consolidation amid global weakness, with the benchmark indices trading marginally lower.

Investors await more corporate earnings that scheduled to be announced over next one month and Karnataka elections due next month.

Bharti Airtel is up more than 2 percent after reporting profit in the March quarter against expectations of loss.

The 30-share BSE Sensex was down 25.28 points to 34,591.36 and the 50-share NSE Nifty declined 12.40 points to 10,602.

Raymond share price rallied 3 percent after reporting 61.7 percent YoY growth in net profit at Rs 54.5 crore and 10.6 percent growth in revenue at Rs 1,629.8 crore for the quarter ended March 2018.

Operating profit increased 33.5 percent to Rs 150.6 cror and margin expanded by 160 basis points to 9.2 percent YoY.

Fortis Healthcare gained a percent after KKR-backed Radiant Life Care made a revised bid for the company with a binding offer to acquire its Mulund hospital for an enterprise value of Rs 1,200 crore.

This is the second revised offer received by Fortis after Malaysian major IHH Healthcare made a binding offer to infuse Rs 650 crore immediately in the Indian firm as part of an overall proposal to invest Rs 4,000 crore.

The company has received a binding offer from Radiant Life Care, FHL said in a regulatory filing.

Bharti Airtel share price gained more than 3 percent after reporting profit against expectations of loss in the quarter ended March 2018.

Net profit fell 72.8 percent sequentially to Rs 83 crore and revenue declined 3.4 percent to Rs 19,634 crore in Q4FY18 while operating income slipped 7.3 percent to Rs 7,034 crore and margin contracted 150 basis points to 35.8 percent QoQ.

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Benchmark indices opened lower, tracking negative trend in global stocks.

The 30-share BSE Sensex was down 52.82 points at 34,563.82 and the 50-share NSE Nifty fell 21.10 points to 10,593.30.

Bharti Airtel, Bharti Infratel, HPCL, BPCL and Reliance Industries were early gainers.

Hindalco, Cipla and HCL Technologies were under pressure.

ICICI Prudential, Raymond, Idea Cellular, Advanced Enzyme, Bajaj Corp, MMTC, Parag Milk Foods, Coffee Day, Jubilant Life, Avanti Feeds, Granule India, Gati, Jaiprakash Associates, Indiabulls Ventures and Trent gained up to 5 percent.

Uniply Industries gained 2 percent after block deal of 10 lakh shares.

Balrampur Chini and Reliance Naval were under pressure.

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Market Live: Sensex up 100 pts, Nifty nears 10,600 on Asian cues; metals melt

Market Live: Sensex up 100 pts, Nifty nears 10,600 on Asian cues; metals melt. Ashok Leyland, Shriram Transport, Cholamandalam Finance, GNFC, Delta Corp, Gati, Swaraj Engines and Thomas Cook rallied up to 5 percent.

Ashok Leyland, Shriram Transport, Cholamandalam Finance, GNFC, Delta Corp, Gati, Swaraj Engines and Thomas Cook rallied up to 5 percent.

Jubilant Life Sciences share price gained 3.5 percent after the company has issued commercial papers (CPs) of Rs 75 crore on April 23.

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Market Update: The market is trading higher, with the Sensex rising more than 100 points, tracking positive Asian cues.

Banking & financials, FMCG stocks and Reliance Industries are supporting the market while the correction in metals and technology stocks cap gains.

The Nifty Metal index is down around 2.5 percent on fall in global commodity prices. Vedanta, Hindalco, and Tata Steel declined up to 7 percent.

The 30-share BSE Sensex was up 127.18 points at 34,577.95 and the 50-share NSE Nifty rose 10.80 points to 10,595.50.

About two shares advanced for every share falling on the BSE.

Reliance Naval falls 6%: Reliance Naval's auditor report said the statement regarding preparation of standalone financial results of the company on going concern basis and also recognition of deferred tax assets (DTA) on tax losses notwithstanding the fact that the company has been incurring cash losses, its net worth has been substantially eroded as on 31st March 2018, loans have been called back by secured lenders, current liabilities are substantially higher than current assets, applications have been made to National Company Law Tribunal (NCLT), Ahmedabad, under section 9 of the Insolvency Bankruptcy Code and winding up petitions been filed before Gujarat High Court for recovery of their dues by few operating creditors, for the reasons stated in the said note.

The company is also of the view that no impairment of its non-current assets is required. These conditions indicate the existence of a material uncertainty that may cast significant doubt on the company's ability to continue as going concern.

The appropriateness of assumption of going concern, recognition of DTA and evaluation of the recoverable value of its non-current assets is critically dependent upon the approval of company's resolution plan by the secured lenders, the company's ability to raise requisite finance generate cash flows in future to meet its obligations and to earn profits in future.

Benchmark indices opened higher, following the positive lead from Asian stocks.

The 30-share BSE Sensex was up 101.63 points at 34,552.40 and the 50-share NSE Nifty rose 14.20 points to 10,598.90.

Nalco, Hindalco Industries, Vedanta, JSPL, JSW Steel and SAIL fell up to 9 percent.

Tech Mahindra, BPCL, and IOC were under pressure.

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Bharti Infratel, Indiabulls Housing Finance, ONGC, Zee Entertainment, TCS and Yes Bank were early gainers.

Ashok Leyland, Shriram Transport, Cholamandalam Finance, GNFC, Delta Corp, Gati, Swaraj Engines and Thomas Cook rallied up to 5 percent.

LIC Housing, 3i Infotech and Ujjivan Financial fell up to 9 percent.
 

Rupee Update: The Indian rupee recovered by 10 paise to 66.38 against the US dollar today.

The rupee on Monday ended at its lowest level against the dollar since March 10, 2017, at 66.48.

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Closing Bell: Sensex ends flat, Nifty below 10,600; pharma gains

Closing Bell: Sensex ends flat, Nifty below 10,600; pharma gains. ICICI Bank, Infosys, Bajaj Finance, SBI, Axis Bank, Adani Ports, Hero Motocorp and Bharti Airtel fell up to 2 percent.

ICICI Bank, Infosys, Bajaj Finance, SBI, Axis Bank, Adani Ports, Hero Motocorp and Bharti Airtel fell up to 2 percent.

Market at Close: The market began the week on a good note, but have ended flat now. The Nifty managed to breach 10,600-mark.

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The Sensex is up 35.19 points at 34450.77, while the Nifty is up 20.70 points at 10584.70. The market breadth was narrow as 1391 shares advanced, against a decline of 1290 shares, while 165 shares are unchanged.

IndusInd Bank and Mahindra & Mahindra were the top gainers, while HDFC Bank, Hero MotoCorp, Indiabulls Housing, and Hindalco were the top losers.

Rupee reference rate: The Reserve Bank of India today fixed the reference rate of the rupee at 66.2177 against the US dollar and 81.2690 for the euro.

The corresponding rates were 66.0167 and 81.4580, as on friday April 20.

The according to an RBI statement, the exchange rates for the pound and the yen against the rupee were 92.8438 and 61.40 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

Europe Trade: European markets edged lower as investors reacted to fresh corporate earnings, while keeping an eye on geopolitics and oil.

The pan-European Stoxx 600 was 0.2 percent lower with different sectors moving in opposite directions.

Market Update: Benchmark indices were off their day's high due to depreciation in the rupee and weak global cues.

The sharp depreciation in the rupee for sixth consecutive day pushed technology stocks higher, but kept the market volatile.

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The 30-share BSE Sensex was up 121.09 points at 34,536.67 and the 50-share NSE Nifty rose 47.80 points to 10,611.80, backed by IT and Pharma stocks.

Nifty IT and Pharma indices gained 1.6 percent each whereas ICICI Bank, HDFC Bank and metals stocks were under pressure.

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Market Live: TCS hits $100 bn in market cap, rupee falls for 6th consecutive day

Market Live: TCS hits $100 bn in market cap, rupee falls for 6th consecutive day. ICICI Bank, Infosys, Bajaj Finance, SBI, Axis Bank, Adani Ports, Hero Motocorp and Bharti Airtel fell up to 2 percent.

ICICI Bank, Infosys, Bajaj Finance, SBI, Axis Bank, Adani Ports, Hero Motocorp and Bharti Airtel fell up to 2 percent.

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Phoenix Mills gained over a percent after Island Star Mall Developers (ISMDPL), the strategic investment alliance owned by the company and Canada Pension Plan Investment Board (CPPIB), acquired a prime land parcel in Hebbal, Bengaluru for a total consideration of Rs 650 crore.

The site has a development potential of approximately 1.81 million square feet.

Stake Sale: Tata Sons sold over Rs 9000 crore (representing 1.6 percent of paid-up equity) worth of TCS shares in March.

Afte the stake sale, Tata Sons still holds 72 percent stake in TCS.

Here are the top headlines at 10 am from Moneycontrol News' Anchal Pathak

Rupee Trade: Falling for the sixth consecutive session, the rupee weakened by 12 paise to 66.22 against the US dollar at the interbank foreign exchange market, amid foreign capital outflows.

Forex dealers said, sustained demand for the American currency from importers and dollar strength against other currencies overseas, bolstered by rising US bond yields, weighed on the domestic unit.

On Friday, The rupee had crashed below the key 66 level to close at a 13-month low of 66.12 against the US currency, hit by a resurgent dollar, firming crude prices and a more hawkish tone of the Reserve Bank.

TCS continued its run, rising nearly 3 percent and becoming the first company to hit a USD 100 billion in market capitalisation.

The IT major has crossed even its competitor Accenture (USD 98 billion) in market cap.

Unichem Labs rallied 7 percent after the US Food and Drug Administration completed Ghaziabad plant inspection and has not issued any observations.

Indiabulls Housing Finance share price gained more than 2 percent after its Q4 consolidated net profit grew by 22.6 percent YoY to Rs 1,030.4 crore, revenue 25.9 percent to Rs 3,689.7 crore and net interest income rose 22.1 percent to Rs 1,661 crore.

HDFC Bank share price remained flat in trade after its Q4FY18 profit grew by 20.3 percent YoY to Rs 4,799.3 crore and net interest income was up 17.7 percent to Rs 10,657.7 crore; the board of directors recommended a dividend of Rs 13 per equity share of Rs 2 each.

Benchmark indices were off their opening highs amid global weakness. Investors after digesting HDFC Bank numbers look for more corporate earnings to get further market direction.

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The 30-share BSE Sensex was down 53.42 points at 34,362.16 and the 50-share NSE Nifty fell 9.10 points to 10,554.90.

ICICI Bank, Infosys, Bajaj Finance, SBI, Axis Bank, Adani Ports, Hero Motocorp and Bharti Airtel fell up to 2 percent while TCS, Reliance Industries, L&T, HDFC, Indiabulls Housing, IOC and HPCL were early gainers.

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Closing Bell: Sensex ends off day’s low points, Nifty above 10,550; IT surges

The Sensex is down 11.71 points or 0.03% at 34415.58, while the Nifty is down 1.30 points or 0.01% at 10564.00.

Market at Close: Shares have ended the week on a mildly lower note, but were off the day’s lowest point.

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The Sensex is down 11.71 points or 0.03% at 34415.58, while the Nifty is down 1.30 points or 0.01% at 10564.00. The market breadth is negative as 1169 shares advanced, against a decline of 1428 shares declined, while 175 shares are unchanged.

TCS, Infosys, and Tech Mahindra were the top gainers, while Yes Bank and ICICI Bank lost the most.

Analysts expect rate hike post MPC minutes: The interest rate-setting panel's deliberations point towards a "hawkish" stance in the

future, which may increase the possibility of a rate hike by the Reserve Bank, analysts said.

"Minutes (of the monetary policy committee) suggest that a back-ended rate hike in 2018 remains a possibility, if headline inflation exceeds the trajectory set out by the MPC," domestic rating agency Icra said in a note.

It was also leaning towards hawkishness, which was a view shared by a majority of watchers.

Japanese brokerage Nomura also called the minutes 'hawkish', which has increased the probability of rate hikes.

Its American peer Morgan Stanley said the tone of the minutes was broadly similar, but deputy Governor Viral Acharya's commentary on shifting away from the accommodatory stance was the biggest surprise, reports PTI.

Mahindra CIE Automotive share price gained nearly 2 percent as revenue in January-March quarter grew by 32 percent to Rs 612 crore and profit increased 132 percent to Rs 38.56 crore compared to year-ago.

Reliance General Insurance, a wholly owned subsidiary of Reliance Capital, said gross written premium was Rs 5,122 crore in FY18, an increase of 28 percent over FY17 and profit after tax rose 27 percent YoY to Rs 165 crore.

Combined ratio improved from 120 percent in FY17 to 111 percent in FY18 and investment book increased 19 percent YoY to Rs 7,999 crore.

Reliance General Insurance has 7.7 percent market share in the private sector.

Snapping its three-session rising streak, gold recorded a steep fall of Rs 240 to Rs 32,390 per 10 grams at the bullion market on weak global cues amid easing demand from local jewellers.

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Silver followed suit and declined by Rs 180 to Rs 41,300 per kg on reduced offtake by industrial units and coin makers.

Traders said apart from a weak trend overseas, fall in demand from local jewellers and retailers at prevailing higher levels at the domestic spot market mainly weighed on the precious metals' prices, reports PTI.

TCS eyes USD 100 billion in market cap: TCS is the most valued company at Dalal Street, with a market capitalisation of Rs 6.5 lakh crore and inching towards to become the first USD 100 billion company after its healthy earnings performance and strong commentary.

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Market Live: Sensex weak, rupee breaches 66/$; TCS hits record high, oil retailers rebound

 Market Live: Sensex weak, rupee breaches 66/$; TCS hits record high, oil retailers rebound. Cyient, Mahindra CIE, Fortis Healthcare, Mishra Dhatu and IndusInd Bank gained up to 4 percent while Vakrangee was down 3.6 percent.

Cyient, Mahindra CIE, Fortis Healthcare, Mishra Dhatu and IndusInd Bank gained up to 4 percent while Vakrangee was down 3.6 percent.

Rupee Trade: Rupee weakened by 25 paise to breach the 66-level and hit its 13-month low of 66.05 against the US dollar due to the appreciation of the US currency overseas.

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Increased demand for the dollar from importers also put pressure on the domestic unit.
 

Meanwhile, the minutes of the last meeting of the Monetary Policy Committee (MPC) indicated the Reserve Bank of India may shift to a hawkish monetary stance in June.

Dealers attributed the rupee's fall to dollar gains against other currencies overseas, persistent foreign fund outflows and a lower opening of the domestic equity market.

Yesterday, the rupee had lost 14 paise to close at a fresh 13-month low of Rs 65.80 as growing worries over higher crude prices and likely fiscal slippages led to subdued forex market sentiments.

Market Update: The market is mildly lower following weakness in global peers, dragged by banks, metals stocks, Reliance Industries, and ITC.

However, the buying in technology stocks capped market losses.

TCS is the biggest gainer among Nifty50 stocks, rising 4 percent to hit a fresh record high after reporting healthy quarterly earnings.

Infosys, HCL Technologies, Tech Mahindra and Wipro gained 2-3.5 percent while HPCL, BPCL, and IOC rebounded 1 percent each after yesterday's sharp sell-off.

Buzzing: Cyient rallied as much as 9.4 percent in morning trade, a day after the company reported 16.2 percent year-on-year (YoY) rise in net profit at Rs 121.5 crore for the quarter ended on March 31, 2018, compared to the year-ago period.

The Hyderabad-based company had posted a net profit of Rs 104.6 crore in the corresponding quarter a year ago, Cyient said in a statement.

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Its revenue increased 12.8 percent to Rs 1,061.8 crore in the said quarter against Rs 941 crore in the year-ago period.

“Cyient delivered strong revenue growth in 4QFY18 but disappointed on the margin front, but the management remains optimistic about Cyient’s growth prospects and has guided for double-digit growth in core IT services and 35 percent YoY growth in DLM,” HDFC Securities said in a note.

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Closing Bell: Global cues push Sensex, Nifty higher; midcaps outperform

Closing Bell: Global cues push Sensex, Nifty higher; midcaps outperform. Fortis Healthcare, Mishra Dhatu, Mindtree, HDFC Standard Life, Phoenix Mills, Aban Offshore, Godrej Industries, Godrej Consumer Products, Dabur and Kaya gained up to 7 percent.

Fortis Healthcare, Mishra Dhatu, Mindtree, HDFC Standard Life, Phoenix Mills, Aban Offshore, Godrej Industries, Godrej Consumer Products, Dabur and Kaya gained up to 7 percent.

Market Closing: Benchmark indices closed higher despite crude oil prices, backed by metals, technology and FMCG stocks.

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The 30-share BSE Sensex was up 95.61 points at 34,427.29 and the 50-share NSE Nifty gained 39.10 points at 10,565.30 following positive global cues.

Hindalco, Nalco, Tata Steel, Vedanta, Hindustan Copper, JSW Steel, SAIL, Nalco and Jindal Steel & Power rallied up to 12 percent on higher commodity prices.

However, HPCL, BPCL and IOC were down 4-7 percent on higher crude oil prices.

Among others, Titan Company and HDFC  were down up to 2.5 percent while Yes Bank, UltraTech Cement, ONGC, L&T and ITC gained up to 3 percent.

Nifty Midcap index was up 133 points.

Chambal Fertilizers, GNFC, GSFC, Shipping Corporation of India, Bombay Burmah, Phoenix Mills, Lemon Tree Hotels, Parag Milk Foods and Rain Industries gained up to 12 percent.

HEG, Graphite, Balrampur Chini Mills, Dhampur Sugar, Indian Hotels and Godrej Consumer Products were down up to 9 percent.

RS Software has narrowed its Q4 loss to Rs 5.9 crore from Rs 7.6 crore in previous quarter.

BPCL plans to start oil trading office in Singapore: Bharat Petroleum Corporation plans to start a trading office in Singapore in the near future to procure crude for its refineries and trade oil products, its head of refineries, R. Ramachandran, said late on Wednesday.

"We will open office in the near future," he said, without specifying a timeline.</p><p>However, a company source, who declined to be named, said the office may start operations by September.

BPCL could become the second Indian state refiner after Indian Oil Corp to open a Singapore trading outpost as Indian buyers hunt for competitively priced spot cargoes from the Asian oil-trading hub, reports Reuters.

Coffee exports from India, Asia's third-largest producer and exporter, reached an all-time high at 3.95 lakh tonnes in the 2017-18 fiscal on strong demand for instant coffee, according to state-run Coffee Board.

The country had exported 3.55 lakh tonnes of coffee in the previous year.

The top three export destinations are Italy, Germany and the Russian Federation.

Crude Oil prices in Action: Talk that Saudi Arabia has its sights on USD 80-100 a barrel oil again ignited a fierce rally in commodities and resource stocks, though the potential boost to inflation globally put some pressure on fixed-income assets.

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It was set to be the strongest day for the commodity complex in eight months as Brent crude futures climbed past USD 74 a barrel after a near 3 percent jump overnight.

The surge came on a Reuters report that OPEC's new price hawk Saudi Arabia would be happy for crude to rise to USD 80 or even USD 100, a sign Riyadh will seek no changes to a supply-cutting deal even though the agreement's original target is now within sight, reports Reuters.

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Market Live: Sensex opens up 116 pts, Nifty Metal shines

Market Live: Sensex opens up 116 pts, Nifty Metal shines. Fortis Healthcare, Mishra Dhatu, Mindtree, HDFC Standard Life, Phoenix Mills, Aban Offshore, Godrej Industries, Godrej Consumer Products, Dabur and Kaya gained up to 7 percent.

Market Live: Sensex opens up 116 pts, Nifty Metal shines; Mishra Dhatu, Nalco rally.

Fortis Healthcare, Mishra Dhatu, Mindtree, HDFC Standard Life, Phoenix Mills, Aban Offshore, Godrej Industries, Godrej Consumer Products, Dabur, and Kaya gained up to 7 percent.

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Fortis Healthcare informed exchanges that the company today has received a supplemental proposal from IHH.

On April 16 also, the board of Fortis received an unsolicited non-binding expression of interest from IHH Healthcare Berhad (IHH) for possible due diligence and participation with the company.

The board of directors of Fortis is scheduled to meet on April 19, 2018, to consider all options.

Procter & Gamble Overseas India BV has submitted to exchanges an open offer for acquisition of up to 43,15,840 fully paid up equity shares of Merck from the public shareholders.

Acquisition: Parag Milk Foods expanded its footprint in North India with the Acquisition of the manufacturing facility of Danone Foods and Beverages India Private Limited, a French dairy based MNC.

"The company has acquired the Danone Foods and Beverages India Pvt Ltd’s manufacturing facility of Curd, Yogurt, and other related products at Rai, Sonipat, Haryana near Delhi. This acquisition would help expand the company’s footprints in North India and strengthen company’s fresh category distribution of Milk, Flavoured Milk, Buttermilk, Curd, Fresh Paneer and Yogurt in this region," the company said.

Crude Update: Oil prices remained close to highs touched the previous day that was last seen in late 2014, buoyed as US crude inventories declined and as top exporter Saudi Arabia is expected to keep withholding supply to prop up the market.

Brent crude oil futures were at USD 73.92 per barrel, up 0.6 percent, from their last close.

US West Texas Intermediate (WTI) crude futures were up 0.58 percent, at USD 68.87 a barrel.

Brent on Wednesday marked its highest level since November 2014 at USD 73.93 per barrel. WTI hit its strongest since December 2014 at USD 68.91 a barrel, reported CNBC.

Market Update: Equity benchmarks rebounded on Thursday after the correction in the previous session, following a positive lead from global stocks.

The 30-share BSE Sensex was up 111.58 points at 34,443.26 and the 50-share NSE Nifty rose 41.20 points to 10,567.40.

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Nifty Metal was up 1.6 percent as Hindalco, Vedanta, Nalco, and Tata Steel rallied up to 5 percent on positive global metal prices.

Nifty Midcap was up 75 points.

Fortis Healthcare, Mishra Dhatu, Mindtree, HDFC Standard Life, Phoenix Mills, Aban Offshore, Godrej Industries, Godrej Consumer Products, Dabur, and Kaya gained up to 7 percent.

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Market Live: Sensex consolidates after 9-day gains; hotels stocks extend rally

Market Live: Sensex consolidates after 9-day gains; hotels stocks extend rally. Vedanta, Tata Steel, Wipro, TCS, Yes Bank, Bharti Airtel, Adani Ports, Eicher Motors, UltraTech Cement and GAIL were early gainers.

Market Live: Sensex consolidates after 9-day gains; hotels stocks extend rally

Vedanta, Tata Steel, Wipro, TCS, Yes Bank, Bharti Airtel, Adani Ports, Eicher Motors, UltraTech Cement and GAIL were early gainers.

Market Update: The market continued to be in a tight range of 30 points on the Nifty after rallying for previous nine consecutive sessions, as investors look for corporate earnings to get further market direction.

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The 30-share BSE Sensex was up 26.55 points at 34,421.61 and the 50-share NSE Nifty rose 8 points to 10,556.70.

Hotels stocks extended previous day's rally. Taj GVK, Lemon Tree Hotels, Royal Orchid, Oriental Hotels, Indian Hotels Company etc gained up to 17 percent.

Results Date: Bajaj Holdings & Investment said the board of directors of the company will meet on May 18 to consider the audited financial results for the year ended March 31, 2018 and recommendation of dividend on equity shares, if any, for the said year.

Resolution Plan for Electrosteel Steels: Electrosteel Steels said the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by Vedanta to acquire the company pursuant to Corporate Insolvency Resolution Process implemented as per provisions of Insolvency and Bankruptcy Code.

As per the resolution plan, a wholly-owned subsidiary of Vendata, will subscribe for the share capital of the company for an aggregate amount of Rs 1,805 crore and provide additional funds aggregating of Rs 3,515 crore by way of debt.

Upon implementation of the resolution plan, Vedanta will hold approximately 90 percent of the paid up share capital of the company. The remaining 10 percent of the company's share capital will be held by the company's existing shareholders and the financial creditors who receive shares in exchange for the debt owed to them.

The funds received by the company as debt and equity will be used to fully settle the debts owed to the existing financial creditors of the company, by payment of Rs 5,320 crore.

Is Gold really a safe bet?: Ashwani Kumar Harit, Commodity Research Analyst at Share India said in global turmoil situation especially when geopolitical tension is going on, gold becomes hot destination for investment than the equity market because investors pull out their money from the stock market due to negative flows and rush to pour their money into the yellow metal that can sustain in such negative situations.

Whenever such situations arise, bullion becomes the safe haven investments due to its negative correlation with the equity markets and as a hedge against inflation.

Presently gold have already been benefitted from the US-China trade war and along with that prices are also getting support to push on the higher side from the ongoing escalation of tension between US-Syria.

Rupee Trade: The rupee weakened by another 14 paise, nearing a fresh seven-month low of 65.78, against the US dollar at the interbank forex market today on fresh demand for the greenback from importers and banks.

It recovered a bit to trade 7 paise down at 65.71 against the US dollar now.

Dealers attributed the rupee's persistent fall to increased demand for the US currency from importers and foreign fund outflows.

Yesterday, the rupee had lost 15 paise to end at a near 7-month low of 65.64 against the US dollar amid persistent capital outflows and a fresh ripple of geopolitical tensions.

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Concerns over oil prices, a global trade war threat, and the widening current account deficit have also weighed on the domestic unit.

Earnings Date: Bajaj Auto informed exchanges that the board of directors will meet on May 18 to consider the audited financial results for the year ended 31 March 2018 and recommendation of dividend on equity shares, if any, for the said year.

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Closing Bell: Sensex ends rangebound session higher; hotels, jewellery, realty stocks rally

Closing Bell: Sensex ends rangebound session higher; hotels, jewellery, realty stocks rally. Benchmark indices were in the green in pre-opening trade, following positive lead from global peers.

Benchmark indices were in the green in pre-opening trade, following positive lead from global peers.

Market Closing: Benchmark indices managed to end near day's high after volatility throughout the session.

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The 30-share BSE Sensex was up 89.63 points to 34,395.06 and the 50-share NSE Nifty gained 20.30 points at 10,548.70.

Nifty Midcap index was up 26 points.

Indian Hotels, Taj GVK, Lemon Tree Hotels and Kamat Hotels rallied up to 20 percent.

Puravankara, Kolte-Patil, Hubtown, DLF, PC Jeweller, Titan Company, TBZ, United Breweries, Parag Milk Foods, Jet Airways, DCB Bank, DHFL, Tata Coffee and Jubilant Foodworks gained up to 6 percent.

Fortis Healthcare, UCO Bank and IRB Infrastructure fell up to 3 percent.

Consumption stocks on buyers' radar: United Breweries and Parag Milk Foods jumped over 5 percent while Jubilant Foodworks gained a percent.

Ramky Infrastructure share price rallied 12.66 percent intraday after receiving provisional completion certificate for the project in J&K.

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Its subsidiary Srinagar Banihal Expressway had received the project 'rehabilitation, strengthening and four laning of Srinagar to Banihal, section of NH-1A on DBFOT (Annuity) basis in Jammu & Kashmir under NHDP-Phase-II from National Highways Authority of India (NHAI).

"Srinagar Banihal Expressway has received 'Provisional Completion Certificate' from independent engineer and declared fit for entry into commercial operations of the project highway effective from March 27, 2018," the company said in its filing.

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Market Live: Sensex, Nifty erase opening gains as investors digest normal monsoon forecast

Benchmark indices were in the green in pre-opening trade, following positive lead from global peers.

Bajaj Electricals surged nearly 7 percent after the engineering & project business unit of the company has bagged orders for ten rural/urban electrification projects.

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The company said the order worth Rs 3,577.93 crore was from Madhyanchal Vidyut Vitran Nigam Limited under the Saubhagya Yojna of Government of India in Uttar Pradesh.

The scope of work includes work of rural/urban electrification and related work on turnkey basis under the Saubhagya Yojna of Government of India.

These projects will be completed within 15 months from the date of issue of letter of intent, the company said.

China's economic growth held steady at 6.8 percent over a year earlier in the quarter ending in March, buoyed by retail sales and investment.

Data released today showed growth in the world's second-largest economy was down slightly from 2017's full-year expansion of 6.9 per cent but in line with the quarter ending in December.
 

Rupee Trade: The rupee fell 4 paise to 65.53 against the dollar at the interbank forex market.

Yesterday, the rupee had fell by 29 paise, or 0.44 per cent, to close at a six-month low of 65.49 against the US currency on widening trade deficit concerns amid heightened geopolitical worries.
 

Market Update: Benchmark indices erased opening gains amid consolidation, as investors digested normal monsoon forecast and look for corporate earnings.

The 30-share BSE Sensex was down 2.48 points at 34,302.95 and the 50-share NSE Nifty fell 2.20 points to 10,526.20.

About 917 shares advanced against 548 declining shares on the BSE.
 

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Long-Term Agreement: Adani Ports and Special Economic Zone (APSEZ) share price gained nearly a percent after it signed a long term agreement with Indian Oil Corporation (IOC) to provide liquefied natural gas (LNG) regasification services on a use or pay basis to the state-run refiner, at its upcoming LNG import terminal at Dhamra in Odisha.

As per the contract, IOC has booked 3 million tonnes per annum (MTPA) regasification capacity spread over 20 years. IOC plans to supply the gas to its refineries in Paradip in Odisha and Haldia in West Bengal.

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Closing Bell: Sensex gains 113 pts, Nifty ends above 10,500; Tata Motors dips 5%

Closing Bell: Sensex gains 113 pts, Nifty ends above 10,500; Tata Motors dips 5%. Infosys was down 4 percent after lowering of full year EBIT margin guidance.

Infosys was down 4 percent after lowering of full year EBIT margin guidance.

Market Closing: Benchmark indices closed in the green for the eighth consecutive session, with the Sensex rising 112.78 points to 34,305.43 and the Nifty gaining 47.80 points at 10,528.40.

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Cipla, Grasim Industries and UPL rallied up to 5 percent.

Tata Motors was down nearly 5 percent. Infosys ended with a loss of 3 percent after lowering EBIT margin guidance for FY19.

Wipro, SBI, Tech Mahindra and Bharti Airtel were under pressure.

Nifty Midcap gained 158 points.

DCB Bank, Jain Irrigation, JSPL, Dish TV and Indiabulls Real Estate rallied up to 6 percent while Mishra Dhatu Nigam surged 20 percent.
 

Private sector lender DCB Bank share price rallied more than 5 percent after reporting good earnings growth and improvement in asset quality performance.

Net profit for the March quarter grew by 21.5 percent to Rs 64.2 crore and net interest income grew by 19.7 percent to Rs 263.7 crore compared to year-ago.

Operating profit increased 23 percent to Rs 142 crore from Rs 115 crore on year-on-year basis.

Gross non-performing assets improved to 1.79 percent in Q4FY18 from 1.89 percent in Q3FY18 and net NPA also improved to 0.72 percent from 0.87 percent on sequential basis.

The market extended gains, with the Sensex rising over 100 points and the Nifty trading above 10,500 levels.

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Index heavyweights HDFC, HDFC Bank and ITC rallied further in the last hour of trade, trading higher by around 1.5 percent.

Infosys (down 3.5 percent), Tata Motors (4.87 percent) and Reliance Industries (0.55 percent), however, continued to see selling pressure.

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Market Live: Sensex, Nifty mildly lower; ITC, HDFC twins support; Infosys dips 3%

Infosys was down 4 percent after lowering of full year EBIT margin guidance.

Market Update: Benchmark indices were mildly lower, with the Sensex falling 57.90 points to 34,134.75 and the Nifty declining 13.90 points to 10,466.70.

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Infosys, Tata Motors and Reliance Industries pulled the market lower while ITC, HDFC Bank and HDFC helped the market recover from opening lows.

The market breadth is in favour of declines. About 1,134 shares declined against 909 advancing shares on the BSE.
 

Market Outlook: Gaurav Jain, Director, Hem Securities said global clues, earnings and macroeconomic data will dictate market trend this week. Apart from on-going geopolitical concerns and on-going earnings seasons, markets will now keep an eye on upcoming Karnataka State elections. Any new developments on that front will affect market swings.

The results season would take center stage once again as some of the index-heavyweight companies are scheduled to release their quarterly this week. HDFC Bank, TCS and IndusInd Bank are among the big names releasing their quarterly numbers this week.

On macro front, the government will announce inflation data based on wholesale price index (WPI) for March today . Wholesale prices rose by 2.48 percent year-on-year in February 2018, after a 2.84 percent increase in the prior month.

On the global front, China will announce Q1 GDP annual growth rate on Tuesday. Japanese industrial production data for February will be declared on Tuesday. Japanese inflation data for March will be announced on Friday.While the US industrial production data for March will be unveiled on Tuesday, 17 April 2018.
 

Market Outlook: Dinesh Rohira of 5nance.com said based on a Fibonacci retracement, a support for the Nifty50 placed at 10,417 levels and resistance at 10561 levels.

With positive set of macro data, and better-expected earnings result, the index is likely to build uptrend momentum in coming session as it decisively indicated in the last week trade.

However, a geopolitical tension is expected to keep index volatile on a rangebound move although we maintain an upwards bias at 10,630 levels on weekly basis and at 10,390 on the downside.

Rupee Update: The rupee fell 20 paise to 65.40 against the US dollar on global trade war concerns, dip in India's exports in March and a sharp drop in domestic equities.

Geopolitical tensions over Syria and trade war concerns weighed on the domestic unit. But, a weak dollar against major global currencies capped some losses, forex dealers said.

India's exports dipped by 0.66 percent to USD 29.11 billion in March, even as they increased by 9.78 percent for the full 2017-18 fiscal.

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The rupee closed higher by 6 paise at 65.20 in the previous session on Friday on the back of positive macroeconomic data and firm local equities.

The market is off its opening lows, with the Sensex falling 100 points due to selling pressure in technology, oil exploration and select banks stocks.

Infosys was the biggest loser among Nifty50 stocks, down 4 percent after the company lowered its full year margin guidance.

Bhansali Engineering was down 3 percent while ICICI Securities, DCB Bank, Gruh Finance gained up to 6 percent after March quarter earnings.

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Closing Bell: Sensex ends higher, Nifty near 10,500; SBI down 1%

Closing Bell: Sensex ends higher, Nifty near 10,500; SBI down 1%. Investors await Infosys Q4 earnings due later in the day.

Closing Bell: Sensex ends higher, Nifty near 10,500; SBI down 1%

Investors await Infosys Q4 earnings due later in the day.

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Market at Close: Shares have ended the day and week on a positive note, with the Nifty closing near 10,500-mark.

The Sensex is up 91.52 points or 0.27% at 34192.65, and the Nifty up 21.90 points or 0.21% at 10480.60. The market breadth is negative as 1265 shares advanced, against a decline of 1435 shares, while 156 shares are unchanged.

Adani Ports, Wipro, and Tech Mahindra were the top gainers, while SBI, Axis Bank, BPCL and Bajaj Finserv lost the most.
 

Fundraising: HDFC Bank said it plans to raise Rs 50,000 crore through bonds in the next 12 months to fund business expansion.

The decision to this effect will be taken in the board meeting on April 21, 2018, HDFC Bank said in a regulatory filing.

The funds will be raised by issuing Perpetual Debt Instruments (part of Additional Tier I capital), Tier II Capital Bonds and Long Term Bonds (Financing of infrastructure and affordable housing) up to a total of Rs 50,000 crore in next 12 months through private placement mode, it said.
 

CJI issue: The Supreme Court today decided to examine a PIL filed by former law minister Shanti Bhushan challenging the existing roster practice of allocation of cases by the Chief Justice of India (CJI).

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A bench comprising Justices A K Sikri and Ashok Bhushan sought the assistance of Attorney General K K Venugopal and Additional Solicitor General Tushar Mehta in dealing with the PIL stating that the CJI cannot exercise arbitrary power in allocation of cases.

However, the bench took objection when Bhushan's counsel made an attempt to bring to its notice the unprecedented January 12 press conference held by four of the court's most senior judges -- Justices J Chelameswar, Ranjan Gogoi, M B Lokur and Kurian Joseph -- who had accused Chief Justice Dipak Misra of arbitrarily allocating cases.

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