Sensex up 118 points; Jet Airways soars 27%
15 November 2018
Market at close: The benchmark indices ended on positive note with Nifty managed to close above 10,600 level.
The Sensex was up 118.55 points at 35260.54, while Nifty was up 40.40 points at 10,616.70.
Shares of Jet Airways ended 28 percent higher on the report of Tata-Jet deal.
Adani Ports, Kotak Mahindra Bank, Hero Motocorp, Axis Bank and Tata Motors are the top gainers on the Sensex.
S&P rating on IDBI Bank: Global rating agency S&P said it's 'BB' long-term and 'B' short-term issuer credit ratings on state-run IDBI Bank continues to remain on
credit watch with negative implications, due to uncertainty on the lender's ability to meet capital requirements.
Buzzing: Shares of Thermax gained 3.5 percent as company posted better numbers for the quarter ended September 2018.
The company's Q2 net profit grew 29 percent at Rs 74.9 crore against Rs 57.9 crore.
Market Update: Equity benchmarks are trading around high points, with the Sensex gaining over 200 points. The Nifty is nearing 10,650.
The Sensex is up 247.64 points or 0.70% at 35389.63, while the Nifty is higher by 66.60 points or 0.63% at 10642.90. The market breadth is negative as 1,015 shares advanced, against a decline of 1,326 shares, while 115 shares were unchanged.
Adani Ports, Tata Motors, and Titan are the top gainers, while Yes Bank, Sun Pharma, and Grasim have lost the most.
Credit Suisse on Page Industries: Global brokerage house Credit Suisse has maintained its underperform rating on Page Industries and slashed target price by 15 percent after weakest growth in second quarter.
The research house cut target price of the stock to Rs 22,000 from Rs 26,000 per share after it reduced earnings estimates by 5-12 percent over FY19-21.
Buzzing stock: Shares of Jet Airways are up over 7 percent on reports that the government is keen to see Tata-Jet Deal going through.
According to reports by CNBC-TV18, Tata Sons chairman N Chandrasekaran is in favour of the deal, but Chairman Emeritus Ratan Tata has some reservations.
The Board of Tata Sons will discuss the proposal on Friday and if approved by the Board, the airline deal could move quickly.
Market Update: Shares have extended their gains after witnessing a flat start, with the Sensex rising over 100 points. The Nifty has surpassed 10,600-mark.
Among sectors, automobiles, banks, and infra names have gained the most. The IT index is up over 1 percent.
The Sensex is up 111.43 points or 0.32% at 35253.42, while the Nifty is higher by 29.00 points or 0.27% at 10605.30. The market breadth is narrow as 653 shares advanced, against a decline of 590 shares, while 56 shares were unchanged.
Hero MotoCorp, Tata Motors, and Titan are the top gainers, while Yes Bank, M&M, and Grasim have lost the most.
Market opens: Equity benchmarks have witnessed a flat start on Thursday morning, with the Nifty trading above 10,550-mark.
Pharmaceuticals are seeing some strength along with automobiles, while energy and infra indices are marginally lower.
The Sensex is up 5.98 points or 0.02% at 35147.97, while the Nifty is up 0.10 points or 0.00% at 10576.40. The market breadth is narrow as 308 shares advanced, against a decline of 195 shares, while 31 shares were unchanged.
Shares of Kotak Mahindra Bank, NTPC, and HCL Technologies are the top gainers, while Yes Bank, Wipro and Grasim have lost the most.
Market at pre-open: Benchmark indices are trading flat in the pre-opening session with Nifty holding above 10,550 level.
At 09:01 hrs IST, the Sensex is down 4.01 points or 0.01% at 35137.98, and the Nifty down 13.80 points or 0.13% at 10562.50.
Asia trades mixed: Asian stocks edged up on Thursday as a steep slide in crude oil prices which had chilled investor sentiment slowed, while the pound and euro were supported after British Prime Minister Theresa May gained cabinet support for a Brexit deal.
US markets close lower: Wall Street stocks fell on Wednesday, with the S&P 500 notching a fifth straight day of losses as financial stocks were hit by fears that regulations on the banking industry would tighten once the Democratic Party takes control of the US House of Representatives, reported Reuters.