Sensex ends 190 points higher, Nifty above 10,950; RIL gains 4%
21 January 2019
Market at close: Benchmark indices ended higher on Monday but gave up some of its intraday gains in the last hour of trading. Nifty finished above 10,950 level with the help of energy stocks led by Reliance Industries.
The Sensex was up 192.35 points at 36,578.96, while Nifty was up 54.90 points at 10, 961.90. About 930 shares have advanced, 1651 shares declined, and 155 shares are unchanged.
Among sectors energy, IT and pharma indices led the gainers, while auto, infra, FMCG and metal indices ended in red.
Lupin gets USFDA approval: The company has received approval for its Levothyroxine Sodium Tablets USP, 25 meg, 50 meg, 75 meg, 88 meg, 100 meg, 112 meg, 125 meg, 137 meg, 150 meg, 175 meg, 200 meg, and 300 meg from the United States Food and Drug Administration (FDA) to market a generic version of AbbVie, Inc's Synthroid Tablets.
GHCL Q3 result: Gujarat Heavy Chemicals (GHCL) has registered 44 percent jump in its third quarter (Q3FY19) net profit to Rs 102.5 crore against Rs 71.2 crore in the same quarter last fiscal. Revenue of the company was up 21 percent at Rs 869.9 crore against Rs 717.9 crore.
Result reaction: Share price of HUDCO gained 10.6 percent after company reported strong set of numbers for the quarter ended December 2018. The company's Q3FY19 net profit was up 27 percent at Rs 328 crore against Rs 259 crore in the same quarter last fiscal.
Citi on AU Small Finance Bank: Shares fell nearly 2 percent as global brokerage house Citi assigned sell rating on the stock after Q3 earnings.
"Company's Q3 net profit was below estimate due to lower non-interest income. We cut earnings estimates by 2 percent / 5 percent for FY19/20 for less fees & costs," the brokerage said.
Market Update: Benchmark indices are trading off day's high with Nifty around 10,950 level.
The Sensex is up 238.39 points at 36625, while Nifty is up 56.30 points at 10963.30. About 874 shares have advanced, 1255 shares declined, and 133 shares are unchanged.
Reliance Industries, Sun Pharma, Infosys, Bajaj Finance and TCS are the top gainers on the Sensex.
Buzzing: Shares of PSP Projects added 2.7 percent as company received orders worth Rs 572 crore from various clients for industrial, residential and institutional projects.
Wockhardt get USFDA approval: The company has received approval from the United States Food & Drug Administration (US FDA) for an ANDA for 100mg and 400mg tablets of Imatinib Mesylate, which is used to treat many kinds of cancers and tumors.
Buzzing: Shares of Larsen and Toubro declined by over 3 percent in morning trade as investors reacted to Sebi denying permission for its buyback issue.
The engineering major on January 19 said market regulator Sebi denied permission for its Rs 9,000 crore share buyback offer.
Market opens: Benchmark indices started the week on a flat note with Nifty holding above 10,900 level.
The Sensex is up 30.57 points at 36417.18, while Nifty is down 0.40 points at 10906.60. About 386 shares have advanced, 448 shares declined, and 56 shares are unchanged.
HDFC Bank, Sun Pharma, NTPC, Infosys, RIL are trading higher, while Wipro, L&T, IOC, BPCL, TCS, Jet Airways, South Indian Bank, DCB Bank, are among major losers.
Market at pre-open: Benchmark indices are trading mixed in pre-opening trade with Nifty is below 10,900 level.
At 09:02 hrs IST, the Sensex is up 58.69 points at 36445.30, while Nifty is down 34.30 points at 10872.70.
Linde India down 20 percent, and DCB Bank, L&T down 10 percent in pre-opening trade, while Vodafone Idea and Wipro are trading higher.
Crude Update: Oil prices dipped on Monday as China reported its weakest annual economic growth in 28 years, although oil prices remain relatively well supported by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC).
SGX Nifty: Trends on SGX Nifty indicate a positive start for the broader index in India, a gain of 18 points or 0.16 percent. Nifty futures were trading around 10,953-level on the Singaporean Exchange.
Asian markets trade mixed: Asian markets were in limbo early on Monday ahead of data likely to show the Chinese economy slowed at the end of last year, underlining the urgent need for more stimulus as Beijing wrestles with the United States over trade.