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Business News » India

Nifty settles above 9,500; Sensex up 0.86%; Bharti Airtel top gainer

The Dalal Street may open between flat and positive amid mixed global cues, while oil is set to extend a week-long rally after major producers Saudi Arabia and Russia said supply cuts needed to continue into 2018.

On Monday, Sensex closed at 30,322.12 above 133 points or 0.44%, while Nifty ended at 9,445.40 up 44 points or 0.47%.

In the broader market, the S&P BSE Midcap added over 1% to finish at fresh closing high, while the S&P BSE Smallcap indices ended 0.8% higher. The market breadth, indicating the overall health of the market, remained positive. On the BSE, 1,494 shares rose and 1,308 shares fell. A total of 187 shares were unchanged.  NSE cash turnover was at Rs. 22, 899 cr.

Analysts at HDFC Securities said,"If Nifty sustains above 9440 level then traders could expect positive move in the Nifty towards 9480 followed by 9520 level. If Nifty sustains trades 9440 level for first hour of trade then traders may see down move, which could take Nifty towards 9380 level followed by 9320 level."

Latest Updates

Tue, May 16, 2017, 15:38 PM

Indian markets ended on a higher note with Nifty 50 settling above 9,500-mark.

Sensex closed at 30,582.60 above 260 points or 0.86%, while Nifty 50 finished above 66 points or 0.71% at 9,512.25. 

Top gainers on NSE involved Bharti Airtel at Rs 375.25 a piece up 3.05%, followed by ACC at Rs 1,731.60 a piece (2.95%), TCS at Rs 2,418.75 a piece (2.27%), Dr Reddy at Rs 2,726.75 a piece (1.90%) and Bank of Baroda at Rs 191.85 a piece (1.62%). 

Losers were - Coal India (Rs 274.75 a piece), Zee Entertainment (Rs 520.05 a piece), Asian Paints (Rs 1,136.20 a piece), Indiabulls Housing Finance (Rs 1,052.05 a piece) and ONGC (Rs 185.05 a piece) trading negative in the range of 0.90% - 1.10%.

Tue, May 16, 2017, 15:13 PM

Experts outlook and suggestion on the stocks of 'Bank of Baroda, Vedanta etc.

Tue, May 16, 2017, 14:45 PM

Share price of Punjab & Sind Bank tumbled over 2% after when the bank reported  nearly 92% decline in net profit for the fourth quarter ended March 31, 2017, result. 

The bank posted net profit of Rs 8.33 crore, down by 91.51% from Rs 98.12 crore in the corresponding period of the previous year. 

Net Interest Income was at Rs 568.20 crore, witnessing growth of 7.35% year-on-year (YoY) and 11.09% quarter-on-quarter (QoQ). 

Gross NPAs stood at 10.45%, expanding by 397 basis points yoy. 

At 1450 hours, the bank was trading at Rs 63.30 per piece down 2.54% on BSE.

Tue, May 16, 2017, 14:13 PM

At 1417 hours, Nifty reached an all time-high of over 9,500-mark. 

The index was trading at 9,506.70 above 61 points or 0.65%, with 36 advances and 14 declines and 1 remaining unchanged.

Tue, May 16, 2017, 13:57 PM

Stocks of Bharti Airtel, ACC, TCS etc are the top Nifty gainers.

Tue, May 16, 2017, 13:31 PM

Share price of Punjab National Bank surged over 5% after when the bank reported standalone net profit of Rs  261.90 crore in the fourth quarter ended March 31, 2017, result.

PNB posted net profit of Rs 261.90 crore this period, compared to net loss of Rs 5,367.14 crore in the similar period of the previous year.

A Bloomberg poll estimated PNB's net profit to be at Rs 447 crore this Q4.

At 1336 hours, PNB was trading at Rs 175.30 a piece above Rs 8 or 5.03% on BSE.

Tue, May 16, 2017, 12:55 PM

Top 10 reasons for spike in Crude.

Tue, May 16, 2017, 12:23 PM

IT stocks emerged among top gainer on both Sensex and Nifty. 

Nifty IT was trading higher by 73 points or 0.71% at 10,413.40. 

All IT companies gained on this index with Oracle Financial Services taking the lead by trading at Rs 3,847 a piece up by Rs 103 or 2.76%. 

Shares of TCS also surged at Rs 2,405.80 a piece above Rs 40 or 1.72%. This was followed by Wipro at Rs 513.45 a piece (1.41%), Mindtree at Rs 514.30 a piece (0.95%) and KPIT at Rs 129.95 a piece (0.74%). 

Other gainers were - Tata Elxsi at Rs 1,565 a piece (0.39%), HCL Tech at Rs 849.95 a piece (0.16%), Tech Mahindra at Rs 443.15 a piece (0.12%) and Infosys at Rs 952 a piece (0.05%).

Tue, May 16, 2017, 12:02 PM

Bharat Heavy Electricals Limited (BHEL) on Tuesday won a order worth Rs 233 crore for a Steam and Power Generation Package from Ramagundam Fertilizers and Chemicals Limited. 

BHEL said, "Through this order, BHEL shall be contributing to the Government of India's ongoing initiative for revival of fertilizer facilities in the country."

Share price of BHEL was trading at Rs 170.25 per piece on BSE, down by 1.02%.

Tue, May 16, 2017, 11:35 AM

Share price of Jain Irrigation was trading at Rs 99.10 per piece up by 2.06% after when the company said that it has acquired 80% stake in two of the United States' largest micro-irrigation companies. 

In a BSE filing, Jain Irrigation said, "This is further to our announcement dated April 19, 2017. We hereby inform that through its mutli generation wholly owned subsidiary in the United States of America (USA) has completed acquisition of 80% stake in two of the US' largest micro-irrigation dealers - Agri Valley Irrigation and Irrigation Design and Construction."

Aric Olson, President of Jain Irrigation said, "Together we look forward to continuing to work on improving the value-chain for farmers by investing in knowledge, talent and technology."
 

Tue, May 16, 2017, 10:33 AM

The Indian rupee was trading at 64.146 higher by 0.081 paisa or 0.13% against US dollar.

Tue, May 16, 2017, 10:18 AM

Top gainers on BSE involved - Bharti Airtel at Rs 374.90 per piece above 3.04%, followed by TCS at Rs 2410.85 per piece (1.96%), Dr Reddy at Rs 2721 per piece (1.68%), Reliance Industries at Rs 1362.60 per piece (1.48%) and Tata Motors at Rs 436.25 per piece (1.02%). 

Losers had Asian Paints at Rs 1134 per piece down 1.15%, followed by Axis Bank (Rs 496.70 per piece), Bajaj Auto (Rs 2972.55 per piece), Coal India (Rs 275.95 per piece), Mahindra & Mahindra (Rs 1372 per piece) and Gail India (412.35 per piece) trading negative in the range of 0.20% - 0.70%.

Tue, May 16, 2017, 09:19 AM

Indian markets made a positive opening on Tuesday post trade deficit numbers for the April month. 

At 9.22 am, Sensex was trading at 30,397.99 above 75 points or 0.25%, while Nifty 50 soared over 15 points or 0.17% trading at 9,461.15. 

Analysts at Motilal Oswal said, "Overall Nifty has re- mained range bound to positive with partici- pants being tentative at higher levels. Positive flows, MSCI changes, stability in commodity prices could aid the up move.

Data compiled by Ministry of Commerce showed that exports grew 19.77% in the first month of the financial year while imports rose 49.07%, leaving a trade deficit of $13.2 billion.

Tue, May 16, 2017, 09:04 AM

Offline jewellers offering big discounts to compete with online markets.

 

Tue, May 16, 2017, 08:35 AM

Stocks in focus will be. 

Vedanta: The company on Monday reported consolidated net profit of  Rs 2,989 crore in its fourth quarter ended March 31, 2017, compared to net loss of Rs 21,104 crore in the corresponding period of 2015-16.

Indian Oil Corp, HPCL and BPCL will be in focus after when petrol price was cut by Rs 2.16 per litre and diesel by Rs 2.10 a litre, reversing the four week trend of rising rates.

The reduction, which will be effective from midnight tonight, comes on back of a marginal 2 paise a litre increase in petrol and 52 paise per litre hike in diesel rates effected from May 1.

HDFC Bank: The bank has lowered its mortgage pricing for new low-cost home loans to 8.35% from previous 8.50% for loan below Rs 30 lakh for women borrowers and by 10 basis points to 8.40 percent for men. 

ICICI Bank: The bank on Monday cuts its home loan rates by 30 basis points to 8.35% for loans up to Rs 30 lakh, bringing it in line with the country's largest lender SBI, which had last week set the tone for the maret.

Colgate Palmolive: In its Q4FY17, the company reported net profit Rs 143 crore, declining by 24.5% year-on-year basis. The company's volume growth was down 3% compared to 3% growth last year. Sales stood at Rs 2,150 crore rising by 21.5% yoy. It declared a dividend of Rs 3 per share while presenting Q4 result.  

TCS: The company on Monday stated that its  share buy-back plan will be open on May 18, 2017 and will be available till May 31,2017. The pro- posed shares under the buyback represent 2.85% of the total paid up equity share capital at Rs 2,850 per equity share worth Rs16,000 crore. 

South India Bank: The bank in its Q4 reported net profit Rs 75.5 crore, which grew by 3.4% YoY. Meanwhile, gross NPA contracted to 2.45% vs 3.98% of the preceding quarter. Net NPA was at 1.45% compared to 2.52% a year ago same period. 

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