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Sensex jumps 150 points as Kotak Mahindra Bank lifts financials, HCL Tech plunges 6%

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India's benchmark stock market index, Sensex jumped nearly 150 points in the afternoon session on Friday, helped by a rally in Kotak Mahindra Bank shares following a report that Warren Buffett's Berkshire Hathaway Inc might take a stake in private-sector lender.

Sensex jumps 150 points as Kotak Mahindra Bank lifts financials, HCL Tech plunges 6%
India's benchmark stock market index, Sensex jumped nearly 150 points in the afternoon session on Friday, helped by a rally in Kotak Mahindra Bank shares following a report that Warren Buffett's Berkshire Hathaway Inc might take a stake in private-sector lender.
The Sensex traded at 35,438, up by 153 points, or 0.43 percent at 1 pm, while the Nifty traded at 10,632, higher by 31 points, or 0.29 percent.
Shares of Kotak Mahindra Bank posted their biggest intra-day gain since February 25, 2010, rising over 14 percent, after CNBC-TV18 reported that Berkshire is looking to buy 10 percent stake in the lender.
Kotak Mahindra stock was the top gainer on the S&P BSE Bankex index, which was up 1.2 percent.
The other top gainers included, Infosys, ITC, Maruti Suzuki and Asian Paints, while HDFC twins, IndusInd Bank and SBI dragged along with Tata Consultancy Services.
Among the top losers, HCL Technologies dipped about 6 percent, while GAIL shares also slipped by 4 percent. IndusInd Bank, Yes Bank, Indiabulls Housing Finance, SBI, Wipro and ONGC were other losers, falling by up to 2 percent.
HCL Technologies on Friday said it would buy select IBM software products for $1.8 billion. The transaction is expected to close by mid-2019, subject to completion of applicable regulatory reviews. Read full report here
Meanwhile, the rupee traded at 70.50 at 12.24 pm against the US dollar. The home currency opened stronger at 70.55 against the US dollar, recovering 35 paise from Thursday's close of 70.90.
Also, catch all the action and updates in our Market Live blog. For updates on polling in Rajasthan and Telangana, follow our Assembly Election 2018 Live blog.

Market Movers

CompanyPriceChng%Chng
Maruti Suzuki7,010.05 -155.00 -2.16
Power Grid Corp168.65 -2.43 -1.42
Nestle17,815.00 -207.55 -1.15
ITC206.90 -2.20 -1.05
Dr Reddys Labs4,687.35 -44.40 -0.94
CompanyPriceChng%Chng
Maruti Suzuki7,010.15 -140.05 -1.96
Power Grid Corp168.55 -2.50 -1.46
Nestle17,819.40 -193.20 -1.07
ITC207.05 -2.10 -1.00
Dr Reddys Labs4,687.00 -43.20 -0.91
CompanyPriceChng%Chng
Maruti Suzuki7,010.05 -155.00 -2.16
Power Grid Corp168.65 -2.43 -1.42
Nestle17,815.00 -207.55 -1.15
ITC206.90 -2.20 -1.05
Dr Reddys Labs4,687.35 -44.40 -0.94
CompanyPriceChng%Chng
Maruti Suzuki7,010.15 -140.05 -1.96
Power Grid Corp168.55 -2.50 -1.46
Nestle17,819.40 -193.20 -1.07
ITC207.05 -2.10 -1.00
Dr Reddys Labs4,687.00 -43.20 -0.91

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.2650-0.1100-0.15
Euro-Rupee88.1500-0.0610-0.07
Pound-Rupee103.60700.08100.08
Rupee-100 Yen0.6765-0.0001-0.01