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.
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.
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.
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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