Sensex closes 373 points higher, Nifty above 10,600; FMCG leads rally
26 November 2018
Market at Close: Shares were off to a flying start on Monday, thanks to a sharp rally among consumption names in the last couple of hours
Among sectors, financials, automobiles, consumption, and IT names were in the green, while investors sold metals and pharmaceuticals segments. In the broader markets, Nifty Midcap index underperformed benchmarks, but closed with gains of around 0.2 percent.
At the close of market hours, the Sensex was up 373.06 points or 1.07% at 35354.08, while the Nifty ended higher by 101.80 points or 0.97% at 10628.60. The market breadth was negative as 1,080 shares advanced, against a decline of 1,508 shares, while 160 shares were unchanged.
Hero MotoCorp, Wipro, and HUL are the top gainers, while ONGC, Sun Pharma, and Yes Bank lost the most.
Market Update: Benchmark indices are trading strong in the afternoon trade with Nifty is hovering around 10,600 level, while Sensex is trading higher by 250 points.
At 14:12 hrs IST, the Sensex is up 268.92 points at 35249.94, while Nifty up 65.80 points at 10592.60. About 906 shares have advanced, 1515 shares declined, and 136 shares are unchanged.
HUL, Asian Paints, IndusInd Bank, HDFC Bank and Bharti Airtel are the top gainers on the Sensex.
Lupin gets USFDA approval: The company has received approval for its Clomipramine Hydrochloride Capsules USP, 25 mg, 50 mg, and 75 mg from the United States Food and Drug Administration (FDA) to market a generic version of SpecGx LLC's Anafranil Capsules, 25 mg, 50 mg, and 75 mg.
Brent Remains Below $60 per barrel
Oil prices won back some ground after hefty losses on Friday, but remained under pressure with Brent crude below $60 per barrel amid weak fundamentals and struggling financial markets.
Front-month Brent crude oil futures were at $59.66 per barrel, up 1.46 percent, from their last close.
US West Texas Intermediate (WTI) crude futures, were up 1.01 percent, at $50.93 per barrel. (Source: Reuters).
Airtel Africa Appoints Global Banks For IPO
Airtel Africa, a unit of Indian telecom operator Bharti Airtel, said on Monday it had appointed eight banks for an intended initial public offering (IPO) on an international stock exchange.
The company has appointed JP Morgan, Citigroup Inc, BofA Merrill Lynch, Absa Group Limited, Barclays Bank PLC, BNP Paribas, Goldman Sachs International and Standard Bank Group Ltd. Source: Reuters.
Buzzing: Shares of GPT Infra locked at 5 percent upper circuit in the early trade on Monday after company bagged an order worth Rs 159.81 crore.
There were pending buy orders of 340 shares, with no sellers available.
Market Opens: Indian indices started the week on the higher note with Nifty is trading above 10,500 level.
HPCL, IOC, Bharti Airtel, Indiabulls Housing, Axis Bank, Maruti Suzuki, Zee Entertainment, IndusInd Bank are the major gainers on the indices.
Infosys, Tech Mahindra, Kotak Mahindra, Adani Ports are the losers.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session with S&P BSE Sensex trading above 35,000 level.
At 09:01 hrs IST, the Sensex is up 122.82 points or 0.35% at 35103.84, and the Nifty up 62.20 points or 0.59% at 10589.
Crude Update: Oil prices steadied on Monday after plunging nearly 8 percent in the previous session, but remain under pressure with Brent crude below USD 60 per barrel amid weak fundamentals and struggling financial markets.
SGX Nifty: Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 20 points or 0.19 percent. Nifty futures were trading around 10,575-level on the Singaporean Exchange.