Markets

News Details

( 12 Oct 2017)
Markets remain firm; HUL, Sun Pharma top gainers

The key domestic benchmark indices remained firm in the late morning trading session as traders built up positions ahead of key economic data-industrial production (IIP) for August and consumer inflation for September to be released after market hours today.

The IT bellwether Tata Consultancy Services (TCS) will kick-off second quarter earnings season today. According to brokerage Edelweiss Securities, the IT major may report revenue growth of 1.6 per cent in dollar terms and 0.7 per cent sequentially in constant currency terms.

On the banking front, private sector lender IndusInd Bank will also report quarterly earnings today. Share price of Zen Technologies surged 12 percent in morning on the back of export order win worth Rs 64 crore. Share prices of Prakash Industries rose 5.6 percent in the morning as it secured additional coal linkages of 2.10 lakh tonnes per annum for the next 5 years.

At 11:15 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 31961.59 up by 127.6 points or by 0.4 per cent, while the NSE Nifty was at 10026.5 up by 41.7 points or by 0.42 per cent.

The BSE Sensex touched an intraday high of 31963.4 and an intraday low of 31813.67 while the NSE Nifty touched an intraday high of 10031.2 and an intraday low of 9977.1.

The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 1241.85,+2.01 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 535.40,+1.83 per cent), NTPC Ltd. (Rs. 177.65,+1.57 per cent), Reliance Industries Ltd. (Rs. 851.55,+1.33 per cent), Mahindra & Mahindra Ltd. (Rs. 1335.65,+1.21 per cent), among others.

Meanwhile, Bharti Airtel Ltd. (Rs. 398.50,-1.21 per cent), Coal India Ltd. (Rs. 281.55,-0.76 per cent), Asian Paints Ltd. (Rs. 1152.45,-0.69 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 168.45,-0.53 per cent), Tata Motors Ltd. (Rs. 413.10,-0.52 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2398 shares traded, 1596 shares advanced, 714 shares declined while 88 were unchanged.

On the global front, Asian stocks were trading higher taking cues from signs of confidence in the US, while the Wall Street closed higher in the previous trading session amid easing geopolitical tensions such as the secessionist push in Spain and cooling tensions on the Korean peninsula.