Sensex Today: Sensex ends 396 points higher, Nifty at 11,573 level on Sept F&O expiry day

FII/DII

On a net basis, foreign portfolio investors (FPIs) sold shares worth a net of Rs 342 crore on Wednesday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 762.48 crore, provisional data available with BSE showed.  

Opening Session

Sensex Today: Benchmark indices Sensex and Nifty started on a positive note ahead of derivatives expiry today. While Sensex rallied over 350 points to 38,947 in early trade, Nifty climbed 115 points to 11,556. Banking and BSE capital goods stocks led the gains with their indices rising 503 points and 223 points, respectively.Market breadth was positive with 1030 stocks trading higher compared to 449 falling on the BSE. 

Gainers/ Losers

ICICI Bank (2.72%), IndusInd Bank (2.72%) and Kotak Bank (1.29%) were the top Sensex gainers.   Top Sensex losers were YES Bank (2.89%), HCL Tech (1.19%) and PowerGrid (0.03%).

Rupee opens flat

Rupee, the domestic unit, opened flat at of 71.02 against the dollar compared to yesterday's close of 71.03 per American currency.

S&P Sensex gainers/losers

Top gainers in the Sensex pack in early trade included ICICI Bank, IndusInd Bank, Kotak Bank, L&T, M&M, Bajaj Finance, ONGC, Tata Steel, Maruti, Bharti Airtel, Tech Mahindra and Asian Paints, surging up to 3 per cent. On the other hand, Yes Bank, HCL Tech, SBI, Infosys, HDFC, PowerGrid, ITC, Sun Pharma and TCS fell up to 3 per cent.

Market viewpoint: Expert opinion

“After correcting, markets have rebounded aided by the positive global cues,” said Deepak Jasani, head of retail research at HDFC Securities. “However, markets may consolidate, rather than pick a trend in either direction for the next couple of sessions.”

Oil price stable today, petrol/diesel stays unchanged today

Global oil benchmark Brent crude rose 0.10 per cent to 62.45 per barrel (intra-day). Favourable oil prices also moved marketing companies. Indian Oil Corp rose 2.88%, while Hindustan Petroleum Corp was up 3.8%. Petrol and diesel prices remained unchanged at Rs 74.13 per litre and Rs 67.07 per litre today at the national capital.  

Sector update

Auto stocks led gains on the NSE Nifty, with the sector’s subindex rising about 1%. India’s biggest auto maker by market cap Maruti Suzuki was up 2.23%. It was followed bu gains in Banking and CPSE scrips.  

Global Market Update

Global markets rallied on reports that US President Donald Trump asserted a trade deal with China could happen sooner than expected. Trump said on Wednesday a deal to end a nearly 15-month trade war with China "could happen sooner" than people think, which would remove a huge shadow over the global economic outlook. Asian stocks rose on Thursday and MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.13%. Bourses in Hong Kong, Tokyo and Seoul were trading significantly higher in their respective late morning sessions, while Shanghai Composite Index was trading on a negative note. Shares on Wall Street ended in the green on Wednesday.

Gold rises after initial fall

Gold prices traded higher in the futures trade on September 26. Earlier the yellow metal had fell sharply in the previous session amid reports of a potential trade deal between world's largest economies US and China.  

Market Update

Indian Indices started the day on bullish note, in line with gains in broader Asia. According to traders, domestic investors followed cues from global markets that rallied on reports that US President Donald Trump asserted a trade deal with China could happen sooner than expected. Further, experts continue to believe that the recent policy announcements are structurally positive for equities. The scenario is expected to improve with the monthly derivative settlement and ahead of the much-awaited RBI policy review meet next week, said Gaurav Dua, Sr VP, Head Capital Market Strategy & Investments, Sharekhan by BNP Paribas  

Dilip Buildcon bags order from Coal India's subsidiary in MP

Dilip Buildcon emerges as the lowest bidder for a project by Coal India's subsidiary worth Rs 2,123 cr in M.P. Share price of Dilip Biulcon has risen 3.77% intraday to touch an intraday high of Rs 456 on BSE and currently trades 1.65% higher at Rs 446.

GSK Pharma slips 3% after suspension of sale of ranitidine products

Shares of GlaxoSmithKline Pharmaceuticals fell 3.5% in the early trade on Thursday as the pharmaceutical firm was contacted by regulatory authorities regarding the detection of genotoxic nitrosamine NOMA in ranitidine products. "Based on the information received and correspondence with regulatory authorities, GSK made the decision to suspend the release, distribution and supply of all dose forms of ranitidine hydrochloride products to all markets, including India, as a precautionary action pending the outcome of ongoing tests and investigations," GSK Pharma said in the press release submitted to the exchanges, after market hours.   Reacting to the filing, shares of GlaxoSmithKline formed a gap down chart pattern today at the opening bell and started day's trade 1.35% lower at Rs 1,416 apiece, against the last closing price of Rs 1,435.45 on the BSE. Later the stock price fell 3.51% lower to the intraday low of Rs 1,385. The GSK Pharma stock has overall fallen nearly 5% in the last 2 sessions. GSK Pharma share price slips over 3% on suspension of sale of ranitidine products

NHPC signs MoU with Himachal Pradesh government

NHPC stock sees a trend reversal after 2 days of fall and gains 2.19% to the day's high of Rs 23.25 on BSE as the company announced today it has signed MoU with Himachal Pradesh government for project worth Rs 4,112 crore. Company' sfiling said," NHPC Limited has signed a Memorandum of Understanding (MoU) with Government of Himachal Pradesh on September 25 for execution of 449 MW Dugar HE Project located in Chamba District, Himachal Pradesh." The estimated present day cost of the project is Rs 4,112 cr. As per the filing, the project is a run of the river scheme on Chenab River and is estimated to generate 1610 MUs in a 90% dependable year with 95% machine availability.

IRCTC IPO opens on Sept 30

IRCTC has set the price band for its initial public offering at Rs 315-320 per share and the government hopes to raise Rs 635 to Rs 645 crore in this price band. The IPO will open for subscription on September 30 and close on October 3.

The IPO comprises of an offer for sale of 2 crore shares (representing 12.5 per cent of total paid-up equity) by the Ministry of Railways. There would also be an additional employee reservation portion of 1.6 lakh shares, taking the total offer size to 12.6 per cent of total paid-up equity.

IRCTC IPO: Railway's ticketing arm to get premium valuation on Dalal Street

YES Bank hits 52- week low despite lender's plan to raise funds

YES Bank share price fell for the second straight day even after the private lender said it has received strong interest from investors for raising capital. YES Bank stock fell to its fresh 52-week low and was among the top Sensex losers in an otherwise rising market today. The mid cap stock fell up to 5.31% to Rs 50.85 on BSE.

"The bank has received strong interest from multiple foreign as well as domestic private equity and strategic investors for this capital raise and remains firmly on course to raising growth capital subject to the necessary approvals, " the bank said. YES Bank share price falls to fresh 52-week low despite lender's plan to raise funds

AstraZeneca Pharma stock 4.5% higher

Share price of AstraZeneca Pharma rose 4.5% intarday to Rs 2,250 on both the bourses on Thurday after the company announced to the exchanges it has received import and market permission in Form 45 (marketing authorization) from the Drugs Controller General of India.

Rupee trades at 70.95 vs dollar

At the interbank foreign exchange the rupee opened at 70.99, then gained further ground and touched a high of 70.90, registering a rise of 14 paise over its previous close. The domestic unit however could not hold on to the gains and was trading at 70.95 against the dollar at 1008 hrs.

On Wednesday, rupee had settled for the day marginally down by 3 paise at 71.04 against the US dollar.

 

Sterlite Technologies acquires 100% stake in Impact Data Solutions Group

The stock price of Sterlite Technologies (STL) rose 4.2% in the early trade to Rs 162 after the company announced that it has acquired a 100 percent stake in European firm Impact Data Solutions Group. The stock has fallen 11.78% in the last 3 days. As per company's BSE filing, Sterlite Global Venture (Mauritius) Limited, a wholly owned subsidiary of STL, has entered into definitive agreements to acquire a 100% stake in Impact Data Solutions Group. "The Group, made up of Impact Data Solutions Limited, UK and its affiliate company, provides network infrastructure solutions to hyper-scale data centres and colocation providers. As part of the transaction STL has acquired 80% of the shares of the Group in the first tranche and the balance 20% will be acquired over the next few years on an earn out model," the filing added. Although by the afternoon trading session, shares of Sterlite Technologies (STL) pared gains to trade 2.5% lower at Rs 152 on BSE.

DIL gets NCLT approval for amalgation with Fermenta Biotech

DIL Ltd, rose over 4% on Thursday's trading session as the company informed the exchanges about getting NCLT approval for the amalgation of Fermenta Biotech with company. The stock price of DIL Ltd rose 4.16% to touch an intraday high of Rs 950 on the BSE. "The Board of Directors of the Company has dissolved the Operations Committee and constituted the Special Situation Committee (SSC) comprising Mr. Narayan K. Seshadri, Non Executive Independent Director (Chairman of SSC), Mr. Ashish Kumar Guha, Non Executive Independent Director and Mr. Sudhir Mathur, Whole Time Executive Director as members." the filing said. The regualtory statement further added that the broad terms of reference of the SSC is to focus on operational improvement, strategic review of international businesses, capital re-structuring including raising capital and dealing with the regulatory bodies.