Sensex, Nifty end a rangebound session flat; metal stocks outperform
22 February 2019
Market Close: Benchmark indices ended flat on Friday after trading in narrow range throughout the day.
The Sensex was down 26.87 points at 35871.48, while Nifty was up 1.80 points at 10791.70. About 1602 shares have advanced, 906 shares declined, and 148 shares are unchanged.
IOC, HPCL, JSW Steel, Vedanta and Yes Bank were the top gainers on the Nifty, while losers include Kotak Mahindra Bank, GAIL, HDFC Bank, Reliance Industries and Cipla.
Among the sectors, except energy and bank all other sectoral indices ended in green.
Suzlon Energy gains 22%: Shares of Suzlon Energy rose more than 22 percent on the back of report that Danish firm may buy controlling stake in the company.
Danish firm Vestas is in talks with Suzlon to buy a controlling stake in the company, reports CNBC-TV18, quoting sources.
Market Update: Benchmark indices continue to trade in narrow range with Nifty able to hold 10,750 level.
At 14:14 hrs IST, the Sensex is down 19.92 points at 35878.43, while Nifty is down 3.40 points at 10786.50.
Credit Suisse on Eicher Motors: The research house maintained neutral call on the stock with target at Rs 21,800 per share. According to firm, the state-wise trends is not too encouraging and within domestic motorcycles, company lost share in almost all the states in Q3.
GMR to develop new airport: Shares of GMR Infrastructure gained 2 percent intraday Friday after company signed concession agreement to develop a new international airport at Greece.
GMR Airports, a subsidiary of GMR Infrastructure along with Greek partner TERNA Group has signed the concession agreement to develop a new international airport of Heraklion at Crete, Greece.
Buzzing: Shares of Dynamatic Technologies rose 5.5 percent in the early trade on Friday as company signed a MoU with SAAB Technologies.
The company has signed a Memorandum of Understanding (MoU) with SAAB Technologies with an intent to explore future joint opportunities in commercial and defence related work, including Gripen fighter aircraft.
Bharat Electronics gains 2%: Shares rose as much as 2 percent in early trade after signing an MoU with Nagpur-based JSR Dynamics.
"The MoU aims at leveraging the individual design and manufacturing capabilities of BEL and JSR to develop weapons and light weight cruise missiles," BEL said in a statement.
Market Opens: Benchmark indices opened flat with negative bias on Friday with Nifty holding above 10,750 level.
At 09:17 hrs IST, the Sensex is down 36.45 points at 35861.90, while Nifty was down 15.10 points at 10774.80. About 400 shares have advanced, 347 shares declined, and 38 shares are unchanged.
Bajaj Auto, Maruti Suzuki, ICICI Bank, HUL, BPCL, HPCL, IOC, HDFC Bank are the top gainers in the morning, while losers is Kotak Mahindra Bank.
Market at pre-open: Benchmark indices are flat in the pre-opening trade with Nifty holding above 10,750 level.
At 09:02 hrs IST, the Sensex is up 43.31 points or 0.12% at 35,941.66, and the Nifty down 1.40 points or 0.01% at 10,788.50.
Kotak Mahindra Bank down 2 percent and Jet Airways is up 1 percent.
Market Headstart: Nifty likely to open lower; Jindal Steel, Bajaj Finance among 3 stocks to buy
Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 19 points or 0.18 percent. Nifty futures were trading around 10,794-level on the Singaporean Exchange.
ING Mauritius to sell stake in Kotak Mahindra Bank: ING Group is looking to sell around 1.20 percent stake in Kotak Mahindra Bank worth over Rs 2,800 crore via block deal, according to a report by The Economic Times. ING Mauritius Investments held about 3 percent stake, or 5,84,53,476 shares, in Kotak Mahindra Bank as of December 31, 2018, shows BSE data.
Wall Street ends lower: Weak economic reports pressured US stocks on Thursday after the market's recent run of gains, and a drop in healthcare shares added to the bearish momentum.
SGX Nifty: Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 19.50 points or 0.18 percent. Nifty futures were trading around 10,794-level on the Singaporean Exchange.
Asian markets trade lower: Shares in Asia were flat in early trade on Friday following a fall on Wall Street, with a deteriorating global economic outlook outweighing more signs of progress in trade talks between China and the United States.