Sensex ends 550 points higher, Nifty closes at 10,386; midcaps up 2%
31 Oct 2018
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Market at Close: Wednesday’s session has ended on a strong note, with the Sensex soaring over 500 points, while the Nifty closed above 10,350-mark. A strong surge in financials along with IT names were responsible for pushing the indices higher.
Pharmaceuticals joined the bandwagon as well and a combination of all these factors boosted the market.
Automobiles, consumption, infrastructure, and PSU banks were the other big gainers. In the broader markets, the Nifty Midcap index rose around 2 percent.
At the close of market hours, the Sensex ended up 550.92 points or 1.63% at 34,442.05, while the Nifty was higher by 188.20 points or 1.85% at 10,386.60. The market breadth is positive as 1,593 shares advanced, 946 shares declined, while 1,114 shares were unchanged.
Market Update: Benchmark indices gained further ground in the afternoon trade with Nifty trading cloer to 10,350 level.
The Sensex is up 406.41 points or 1.20% at 34297.54, while Nifty up 138.10 points or 1.35% at 10336.50. About 1409 shares have advanced, 941 shares declined, and 1297 shares are unchanged.
Reliance Industries, HDFC, Infosys, ICICI Bank and TCS are the positive contributors to the Sensex.
Market Update: Equity benchmarks have extended their gains, with the Nifty soaring past 10,250.
The Sensex is up 219.04 points or 0.65% at 34110.17, while the Nifty is higher 74.90 points or 0.73% at 10273.30. The market breadth is positive as 1,279 shares advanced, against a decline of 1,021 shares, while 1,346 shares were unchanged.
IT stocks have further extended their gains, while pharmaceuticals and PSU banks were higher as well. Metals, infra and automobiles were the other big losers. The midcap index was higher by a percent.
Market Update: There’s a recovery on the cards. The Sensex is up over 140 points, while the Nifty is around 10,250.
The Sensex is up 140.09 points or 0.41% at 34031.22, and the Nifty up 48.70 points or 0.48% at 10247.10. The market breadth is positive as 1,188 shares advanced, against a decline of 1,022 shares, while 1,434 shares were unchanged.
Among sectors, gains are visible among IT and pharmaceuticals, while auto, metals and infrastructure names are trading in the red.
Midcaps are in the green, with Nifty Midcap index trading around a percent higher.
Market Update: The market is trading volatile on Wednesday with Nifty trading around 10,150 mark, while Sensex is down over 50 points.
The Sensex is down 69.35 points or 0.20% at 33821.78, while the Nifty down 15.20 points or 0.15% at 10183.20. About 1002 shares have advanced, 1090 shares declined, and 1551 shares are unchanged.
Infosys, HDFC, IndusInd Bank, Sun Pharma and Axis Bank are the top gainers on the Sensex.
Buy Gujarat Ambuja Exports: Gujarat Ambuja Exports has been consolidating in the range of Rs 180-230 from the last four months. In this month we have observed fresh breakout in the prices, said Shitij Gandhi of SMC Global Securities.
Currently, the stock has formed a bullish flag pattern on the daily charts and is on the verge of a breakout above the same.
The positive divergence on secondary indicators like RSI and stochastic also suggest for further upside in prices moving forward. Traders can accumulate the stock in a range of Rs 235-240 for the upside target of Rs 261 and a stop loss below Rs 220, he added.
Market Update: Sudden selling has gripped D-Street as the Sensex is trading over 200 points lower. The Nifty has given up 10,150.
The Sensex is down 214.93 points or 0.63% at 33676.20, while the Nifty is down 75.60 points or 0.74% at 10122.80. The market breadth is negative as 789 shares advanced, against a decline of 870 shares, while 1,983 shares were unchanged.
Shares of Infosys, HDFC, and Indiabulls Housing are the top gainers, while Tata Steel, Coal India and Dr Reddy’s Laboratories have lost the most.
Market Update: Equity benchmarks are off their high points, but the Nifty is holding 10,200.
The Sensex is up 24.31 points or 0.07% at 33915.44, while the Nifty is higher by 10.10 points or 0.10% at 10208.50. The market breadth is positive as 980 shares advanced, against a decline of 472 shares, while 2,190 shares were unchanged.
Infosys, HDFC, UPL and Indiabulls Housing are the top gainers, while Coal India, Tata Steel, and Dr Reddy’s have lost the most.
Dr Reddy’s falls 6%: Shares of Dr Reddy’s Laboratories fell over 6 percent on Tuesday morning as investors reacted to the company receiving observations for its Duvvada unit.
The drug maker said it got Form 483 with 8 observations from US FDA for its injectable plant in Duvvada.
“This is to inform you that the audit of our formulations manufacturing facility at Duvvada, Visakhapatnam, by the US FDA, has been completed today,” the company said in a statement to stock exchanges.
“We have been issued a Form 483 with 8 (eight) observations, which we are addressing,” the company added.
The company didn’t disclose the nature of these observations.
The US drug regulator conveys its concerns on manufacturing practices through Form 483. Companies that receive observations must respond in writing with a corrective and preventive action plan in 15 days.
The company's Duvvada unit, known as FTO-VII, manufactures cytotoxic and hormonal injectables is under warning since November 2015, blocking any new approvals.
The inspection has begun on October 22.
Market opens: It’s a higher start for the market on Tuesday morning. The Nifty is above 10,200-mark.
The Sensex is up 136.70 points or 0.40% at 34027.83, while the Nifty is higher by 40.50 points or 0.40% at 10238.90. The market breadth is positive as 566 shares advanced, against a decline of 281 shares, while 2,795 shares were unchanged.
Shares of Cummins India are up around 12 percent on the back of robust Q2 numbers. Bank of Baroda is higher by 3 percent ahead of its September quarter results announcement.
Yes Bank, HDFC, and Indiabulls Housing are the top gainers, while Coal India, Tata Steel, and Dr Reddy’s are the top losers.
Market at pre-open: Equity benchmarks are trading higher in pre-opening trade.
At 09:03 hrs IST, the Sensex is up 94.73 points or 0.28% at 33985.86, while the Nifty is higher by 28.40 points or 0.28% at 10226.80.
The Indian rupee opened weak at 73.92 per US dollar.
Asian markets trade strong: Asian stocks pulled away from 20-month lows to eke out small gains on Wednesday, thanks to a rebound on Wall Street though investors remained cautious after a torrid October month that saw trillions of dollars wiped out of global equity markets, reported Reuters.
Wall Street gains: Major US stock indexes jumped more than 1 percent on Tuesday, helped by strong gains for chip and transport stocks as investors took advantage of cheaper prices following a steep recent pullback for equities, reported Reuters.
