Sensex, Nifty end flat on a choppy day; IT, auto stocks under pressure
14 March 2019
Market at close: Benchmark indices ended flat in choppy session on Thursday.
At the close, the Sensex was up 2.72 points at 37754.89, while Nifty was up 1.60 points at 11343.30. About 1216 shares have advanced, 1468 shares declined, and 148 shares are unchanged.
Nifty Bank has crossed 29,000 for the first time today, but ended off day's high.
NTPC was the top gainer on the Nifty followed by IndusInd Bank, Yes Bank, Sun Pharma and Coal India, while Power Grid Corp lost 3 percent, followed by HCL Tech, Hero Motocorp, UltraTech Cement and Tata Motors.
Among the sectors, IT and auto stocks remained under pressure, while buying was seen in in the metal and pharma stocks.
eClerx Services approves buyback: The board of directors of the company at its meeting held on March 14, 2019, has approved the proposal for buyback of fully paid-up equity shares of the company of face value of Rs 10 each for an aggregate amount not exceeding Rs 262 crore, at a maximum price of Rs 1,600 per share.
Cadila Healthcare get USFDA approval: Zydus Cadila has received the tentative approval from the USFDA to market Sitagliptin and Metformin Hydrochloride Extended-Release Tablets, (US RLD-JANUMET XR), 50 mg/500 mg, 50 mg/ 1,000 mg and 100 mg/ 1,000 mg.
Buzzing: Shares of BSE rose 4 percent as company board to consider and approve audited financial results (Standalone and Consolidated) for the financial year ended March 31, 2019, as per company release on NSE on May 7.
Also, board will consider recommendation of final dividend, if any, for the financial year ended March 31, 2019 and proposal for buyback of fully paid equity shares of the company.
Market Update: Sensex is up 38.91 points or 0.10 percent at 37,791.08, and the Nifty is up 4.20 points or 0.04 percent at 11,345.90. About 996 shares have advanced, 1,142 shares declined, and 103 shares are unchanged.
Buzzing: Start Cement has gained over 5 percent intraday after receiving Rs 115.18 crore towards freight subsidy claims from the central government.
Yes Bank gains: Yes Bank shares rallied nearly 4 percent in the morning trade on March 14 after global investment firm Deutsche Bank revised its price target for the stock upwards to Rs 300 from Rs 280 earlier.
Essel Propack redeems commercial papers: The company today redeemed commercial papers amounting to Rs 50 crore and further will be redeeming commercial papers amounting to Rs 35 crore on March 14, 2019.
Infosys to open new digital innovation center: The company will be opening a new Digital Innovation Center in Bucharest, Romania. The center will focus on developing offerings for clients based on cutting-edge digital technologies including Cloud, Big Data, Artificial Intelligence and Machine Learning.
Crude Update: Brent crude oil prices on Thursday hit their highest so far this year, pushed up by ongoing supply cuts led by OPEC and by US sanctions against Venezuela and Iran.
Market opens: It is a firm start for the Indian indices on Thursday morning with Nifty around 11,370 level.
The Sensex is up 131.80 points at 37883.97, while Nifty is up 32.80 points or 0.29% at 11374.50. About 566 shares have advanced, 268 shares declined, and 56 shares are unchanged.
DHFL gained 5 percent, followed by Lemon Tree, Lupin, Zee Ent, Indianbulls Housing, HCL Tech, Axis Bank, Yes Bank, Infosys are among the major gainers on the indices, while losers include Power Grid, BPCL, Tata Motors, Adani Ports and HPCL.
Among the sectors, FMCG, infra and energy are trading marginally lower, while IT, metal, pharma, and auto witnessing buying interest.
Rupee Opens: The Indian rupee opened lower by 14 paise at 69.67 per dollar on Thursday versus previous close 69.53.
Market at pre-open: Benchmark indices are mixed in the pre-opening session.
At 09:02 hrs IST, the Sensex is up 128.22 points or 0.34% at 37880.39, and the Nifty down 118.00 points or 1.04% at 11223.70.
DHFL, Yes Bank are trading higher in the pre-opening session.
Wall Street ends higher: US stocks rose on Wednesday, led by gains in healthcare shares, and Boeing edged upward even as the United States joined other nations in grounding the company's 737 MAX jets.
Asian markets trade firm: Asian shares paused on Thursday as investors awaited data from China for clues about the health of the world's second largest economy while the pound shot up to near nine-month highs as the risk of a no-deal Brexit receded following a late-night vote.
SGX Nifty: Trends on SGX Nifty indicate a flat opening for the broader indices in India, a gain of 7 points or 0.06 percent. Nifty futures were trading around 11,390.50-level on the Singaporean Exchange.