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The Indian equity market reversed most of yesterday’s losses while currency market hit the intra-day low 70.08 before making a recovery. The Sensex gained 207 points to close above 37,800 while Nifty advanced 79 points to 11,435. Reliance and ICICI Bank were top Index gainers followed by Sun Pharma that surged on the back of better-than-expected Q1 earnings. In the broader market, the Nifty Bank index edged 227 points higher to end above 28,000, led by ICICI Bank, YES Bank and Axis Bank.
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On the earnings front, Grasim reported strong earnings, but failed to reflect in stock as it closed flat at 986.60. But, Sun Pharma saw gain of over 7 percent as it reported operationally strong earnings with profit coming in at Rs 982.5 crore against CNBC-TV18 poll of Rs 931.5 crore. Margin came in at 22.2 percent against poll of 21.4 percent. SpiceJet saw its margin slipping to 3.7 percent against the estimate of 12.4 percent.
In the futures market, Nifty 11,400 and 11,500 Put Calls added 7 lakh and 3 lakh shares respectively in the open interest with premium slipping 33 percent and 30 percent respectively. Nifty 11,700 Call option added 3 lakh shares with premium moving 575 higher. Nifty August Futures premium expanded 30 points from Monday’s level of 25 points.
Asian shares closed mixed, as some regional markets bounced back one day after declining over jitters related to economic uncertainty in Turkey. The Nikkei 225 led gains, jumping 2.3 percent to close at 22,356, as the yen gave up some of its recent strength — amid safe haven demand on uncertainty in Turkey.
Exporters, including automakers and tech names, bounced back, with Honda Motor up 2 percent for the day. All of Tokyo's 33 sectors finished in positive territory, with the broader Topix ending higher by 1.6 percent.
Elsewhere, South Korea's Kospi edged higher by 0.5 percent to end at 2,259. Tech names were a mixed bag, with LG Electronics dropping 3.5 percent while index bellwether Samsung Electronics tacked on 0.2 percent. Down Under, the S&P/ASX 200 added 0.8 percent to close at 6,300, with the financials, telecommunications and information technology subindexes recording gains of more than 1 percent.
Greater China markets, however, declined, lagging their regional peers. Hong Kong's Hang Seng Index erased 0.7 percent. Tech sector names also recorded heavy declines, with heavyweight Tencent dropping 3.7 percent. The Shanghai Composite edged lower by 0.2 percent to close at 2,781 and the blue-chip CSI 300 declined 0.5 percent by the end of the session as markets digested a barrage of data released earlier. China fixed asset investment growth rose 5.5 percent compared to one year ago, missing the 6 percent estimate.
First Published: Aug 14, 2018 4:10 PM IST