Closing Bell: Sensex, Nifty settle mildly higher, Indiabulls Housing Finance up 10%##Closing Bell: Sensex, Nifty settle mildly higher, Indiabulls Housing Finance up 10%
The Sensex gained 46.70 points, or 0.13 percent, to end at 36,241, while the Nifty settled at 10,883.75, up by just 7 points, or 0.06 percent. Broader markets outperformed frontline indexes with the Nifty MidCap gaining 0.72 percent. The BSE MidCap setled 0.46 percent higher. As many as 33 stocks advanced against 10 declining sectors. Nfity Pharma dipped the most by2.31 percent. Among top gainers, Indiabulls Housing Finance surged by nearly 10 percent, Yes Bank up almost 5 percent. HUL shares also surged more than 4 percent, while Gail and Vedanta were up nearly 3.7 percent. Bharti Airtel and NTPC were other major gainers, rising almost 3 percent. Among top losers, Sun Pharma dipped 7.5 percent, M&M, UPL, HPCL, ZEEL, M&M, ITC, Hero MotoCorp and Reliance Industries declined by up to 4 percent.
Here's why Reliance Communications shares are up over 16% today##Here's why Reliance Communications shares are up over 16% today
Shares of Reliance Communications (RCom) surged more than 16 percent on Monday, touching an intraday high of Rs 16.80. The stock surged after Reliance Realty, the arm of Reliance Communications, furnished corporate guarantees of Rs 1,400 crore to the Department of Telecommunication, which was part of the Supreme Court (SC) order on Friday allowing Anil Ambani-controlled company to sell spectrum to Mukesh Ambani's Reliance Jio Infocomm. Read more
Local growth, global growth & politics are three significant challenges for markets, says Udayan Mukherjee##Local growth, global growth & politics are three significant challenges for markets, says Udayan Mukherjee
Udayan Mukherjee, consulting editor at CNBC-TV18, on Monday spoke about easing global trade worries, improved outlook and also shared concerns around earnings growth trajectory and looming political uncertainty. Read more
Escorts hit 2-month high as Nov total tractor sales up 56%##Escorts hit 2-month high as Nov total tractor sales up 56%
Shares of Escorts gained more than 2 percent to hit their two-month high of Rs 719.80 as the total tractor sales of the company in November rose 56.4 percent on year to 8,005 units. The company's domestic tractor sales rose 54.6 percent on year to 7,641 units and tractor exports rose to 364 units from 178 units a year ago. The shares of the company gained more than 5 percent in the last three sessions. At 3.04 pm, shares of the company traded up 0.5 percent at Rs 708.45.
GAIL India surges 3% on hopes of hike in tariffs, Sensex, Nifty flat##GAIL India surges 3% on hopes of hike in tariffs, Sensex, Nifty flat
Shares of GAIL India surged 3 percent after brokerage firm Nomura Financial Advisory and Securities India in a note said it expects 40-50 percent hike in tariff for the company's Hazira-Vijaipur-Jagdishpur pipeline. The brokerage said the final tariff-setting process was in final stages. Nomura India said the network accounts for 72-73 percent of GAIL's transmission volume and therefore, is key to the company's earnings. (Cogencis)
The Sensex traded at 36,226.95, up by 32.65 points, or 0.09 percent at 3.15 pm, while the Nifty was at 10,875.90, marginally down by 0.85 points, or 0.01 percent. The Nifty MidCap outperformed, rising 0.82 percent.
Motherson Sumi gains 7% on reduced trade war concerns##Motherson Sumi gains 7% on reduced trade war concerns
Shares of Motherson Sumi trade nearly 7 percent higher as investors bet on its overseas business prospects, following a tweet from US President Donald Trump. He wrote that China will be reducing and removing tariffs into cars coming from US. Shares traded at Rs 166.25, up by 6.78 percent on the NSE at 2.36 pm.
Hindustan Unilever up 2.5% on Horlicks deal##Hindustan Unilever up 2.5% on Horlicks deal
Shares of Hindustan Unilever surged 2.53 percent to Rs 1,798.40 on the NSE at 2.07 pm. The Board of Directors of Hindustan Unilever Limited (HUL) today approved a scheme of amalgamation between the Company and GlaxoSmithKline Consumer Healthcare Limited (GSK CH India) subject to obtaining requisite approvals from statutory authorities and shareholders. HUL has reached a definite agreement with GSK CH India in this regard. The transaction is an all equity merger with 4.39 shares of HUL being allotted for every share in GSK CH India. This transaction values the total business at INR 317 bln."
Indiabulls Housing Finance surges 6% ahead of RBI meet, Sensex, Nifty recover##Indiabulls Housing Finance surges 6% ahead of RBI meet, Sensex, Nifty recover
Shares of Indiabulls Housing Finance surged nearly 6 percent and was the top gainer on the Nifty 50 ahead of the upcoming RBI meet. Shares of Indiabulls Housing Finance were up 5 percent at Rs 751.40, with over 8.3 million shares traded on the NSE versus a daily average of 1.7 million shares. Shares quoted at Rs 773, up by 8.02 percent on the NSE at 2 pm. The Nifty50 traded in the green, up by nearly 15 points, or 0.14 percent, to 10,891. The Sensex traded at 36,224, higher by nearly 30 points, or 0.08 percent.
Shankara Building tanks 10%, Sensex, Nifty turn negative##Shankara Building tanks 10%, Sensex, Nifty turn negative
Shares of Shankara Building Products hit their 10 percent lower circuit limit of Rs 624.45 as the company pared its store expansion target and said it sees lower margins in the remainder of 2018-19 (Apr-Mar). Meanwhile, benchmark indexes traded lower with the Nifty50 down by 25 points, or 0.23 percent, to 10,852 at 1.06 pm. The Sensex dipped over 81 points, or 0.22 percent, to 36,112.87.
RCom up 16% today, Sensex, Nifty flat##RCom up 16% today, Sensex, Nifty flat
RCom shares traded at Rs 16.55, higher by 16.14 percent, on the NSE at 11.44 am. The benchmark Nifty traded flat at 10,877.85, up by 1 points, while the Sensex was up by 42 points, or 0.12 percent, to trade at 36,236. Shares surged more than 16 percent on Monday, touching an intra-day high of Rs 16.80.
Market update: Sensex, Nifty trim gains as crude oil prices gain##Market update: Sensex, Nifty trim gains as crude oil prices gain
The Sensex traded at 36,271, higher by nearly 77 points, or 0.21 percent, while the Nifty was up by 16.30 points, or 0.15 percent at 10,893 at 11.05 am. The Nifty MidCap outperformed, rising 0.78 percent. The BSE MidCap was also higher by 0.63 percent. Among index gainers, Indiabulls Housing Finance, Vedanta, Hindalco, Tata Steel, Coal India, Power Grid and Tata Motors rose by up to over 5 percent. Among index losers, Sun Pharma, HPCL, UPL, BPCL, Hero MotoCorp, M&M, Reliance, L&T, by up to over 8 percent.