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Markets close in the green after rangebound session; banks among top gainers

Markets close in the green after rangebound session; banks among top gainers

Markets close in the green after rangebound session; banks among top gainers
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By CNBC-TV18 Apr 10, 2018 4:10:06 PM IST (Updated)

The BSE Sensex rose 92 points to 33,880 but closed below 100-day-moving average (DMA) and the NSE Nifty gained 23 points to 10,402, with ICICI Bank and Axis Bank among the top index gainers.

The markets closed in the green after a rangebound session.

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The BSE Sensex rose 92 points to 33,880, but closed below the 100-day-moving average (DMA), while the NSE Nifty gained 23 points to 10,402, with ICICI Bank and Axis Bank among the top index gainers.
The upward trend in the two above-mentioned stocks, led to the Nifty Bank gaining 133 points to 25,227. The midcap index, Nifty Midcap 100, advanced 36 points to 19,631.
The market breadth was in favour of the declines and the put-call ratio continues to hover around 1.40. “Market could see a 5% correction.” Kotak Portfolio Management Services' Anshul Saigal said.
The HDFC twins, HDFC and HDFC Bank, failed to participate in contributing to the bank index gains as both the stocks slipped a percent each.
Mahindra & Mahindra, Hero Motocorp and Bajaj Finserv were among other major index losers.
Among gainers, rising metal prices helped stocks like Tata Steel and Vedanta to gain a percent each.  Manappuram Finance, Ramco Cements and Apollo Hospitals were among the top gainers while Federal Bank, Vakrangee and M&M contributed to losses in the midcap index.
In derivatives, both the Nifty 10,400 and the 10,300 Puts were active in today’s trade with both the options adding 10 lakh and 6 lakh shares respectively. Among call options, 10,500 added a little over 3 lakh shares. The Nifty April Futures’ premium stands at 22 as against yesterday’s level of 15.
Asian equities got a boost after Xi Jinping, China's president, announced to implement major opening measures.
Japan's Nikkei gained 0.5% to 21,794, Hang Seng surged 500 points to close above 100-DMA and China's Shanghai rose 1.7%.
“Xi Jinping’s speech is quite important from global markets' perspective. And, China's announcement of opening up the auto sector is a positive development,” Port Shelter Investment said.
Stock: Exchange Announcements
YES Bank:  The board is considering to fundraise and re-appoint Rana Kapoor as their managing director and chief executive on  April 26, 2018.
Vedanta:  The firm filed an application for the renewal of the Thoothukudi plant was rejected.
Thirumalai Chemicals:  The firm's Ranipet unit will resume its operations after planned maintenance and catalyst change.
Monnet Ispat:  Committee of Creditors approved the resolution plan of Aion-JSW.
Welspun Corp: The firm bagged an order for the supply of 4.17 lakh metric tonne of pipes for a water project in Middle East and North Africa region.
Maruti Suzuki:  The firm started exporting the models manufactured in their Gujarat plant.
Minda Industries: The board approved an acquisition of an additional 41.7% stake in TG Minda from Toyoda Gosei for Rs 136.8 crore.
Dr Reddy's: The firm received an establishment inspection report from the US FDA for its API unit in Mexico.
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