Markets

News Details

( 12 Oct 2017)
Markets trade higher; NTPC, Sun Pharma shares advance

The key domestic benchmark indices were trading a positive terrain in the morning trading session backed by Reliance Industries, HDFC Bank, metals and infra stocks.

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. Lakshmi Vilas Bank remained in focus after the private sector lender reported an 83.4 per cent drop in net profit at Rs 10.50 crore during the July-September quarter ended September 30, compared to Rs 64.84 crore in Q2FY17, due to higher provisioning for bad loans.

Share price of Zen Technologies surged 12 percent in morning on the back of export order win worth Rs 64 crore. Also, shares of Precision Camshafts added 4 percent in the morning trade as it acquired Nashik-based company.

At 10:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 31927.23 up by 93.24 points or by 0.29 per cent, while the NSE Nifty was at 10022 up by 37.2 points or by 0.37 per cent.

The BSE Sensex touched an intraday high of 31948.13 and an intraday low of 31813.67 while the NSE Nifty touched an intraday high of 10025.4 and an intraday low of 9977.1.

The top gainers of the BSE Sensex pack were NTPC Ltd. (Rs. 178.10,+1.83 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 535.40,+1.83 per cent), Lupin Ltd. (Rs. 1061.05,+1.49 per cent), Tata Steel Ltd. (Rs. 688.65,+1.12 per cent), Reliance Industries Ltd. (Rs. 849.70,+1.11 per cent), among others.

Meanwhile, Bharti Airtel Ltd. (Rs. 398.05,-1.33 per cent), Asian Paints Ltd. (Rs. 1152.30,-0.70 per cent), ICICI Bank Ltd. (Rs. 266.00,-0.49 per cent), Tata Motors Ltd. (Rs. 413.30,-0.47 per cent), Cipla Ltd. (Rs. 582.35,-0.44 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 2094 shares traded, 1470 shares advanced, 565 shares declined while 59 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.