Sensex ends at record closing high, Nifty above 11,700; Zee Ent falls 3%
02 April 2019
Market at close: Benchmark indices ended higher for fourth consecutive day on April 2 with Nifty finished above 11,700 level.
At close, the Sensex was up 184.78 points at 39056.65, while Nifty was up 44 points at 11713.20. About 1197 shares have advanced, 1323 shares declined, and 157 shares are unchanged.
Tata Motors, Bharti Airtel, Eicher Motors, SBI and Gail India were among gainers on the Nifty, while HPCL, Zee Entertainment, BPCL, Bajaj Auto and Sun Pharma remained on the losing side.
Among the sectors, PSU and auto led the gainers followed by infra and IT, while FMCG, metal and pharma witnessed selling pressure.
Buzzing: Godrej Agrovet shares rallied 7.7 percent after Motilal Oswal initiated coverage with a buy call, citing strong growth prospects in crop protection and oil palm business segments.
Strides Pharma gets EIR from USFDA: The company has now received the Establishment Inspection Report (EIR), there by confirming the successful closure of the inspection which concluded on February 1, 2019.
Sterlite Technologies announced a collaboration with the Telecom Infra Project (TIP) to enhance data networks of the future.
The collaboration will see the creation of an optical transport controller to manage and control Voyager and Cassini platforms developed by TIP members, the company said.
Annai Infra Developers Files IPO Papers
Tamil Nadu-based engineering, procurement and construction company Annai Infra Developers has filed draft red herring prospectus (DRHP) with the capital market regulator for its initial public offering of up to 1 crore equity shares.
The company may consider issuing up to 16 lakh equity shares on a private placement basis for cash consideration, prior to filing of the red herring prospectus with the Registrar of Companies.
The IPO proceeds will be utilised to finance the purchase of plant and equipment, funding the working capital requirement and general corporate purposes.
Sensex Completes 40 Years
“It is a matter of pride for BSE that Sensex has completed 40 years. It was the first real-time index of India and caught the imagination of investing public," said Ashishkumar Chauhan, MD & CEO, BSE.
"Over the last 40 years, it has given CAGR of over 17 percent which is the highest returns of any asset class in India. It is a true reflection of the growth of India over all these years," he added.
Buzzing: Cyient has tumbled about 11 percent after it reported a delay in delivery of order worth $5 million due to issues related to regulatory clearances.
Strides to launch tablets in US market: The company's step-down wholly owned subsidiary, Vensun Pharmaceuticals, Inc., USA and its partner Pharmaceutics International, Inc.have received approval for jointly developed Potassium Chloride Extended-Release Tablets USP, 10 mEq (750 mg), 15 mEq (1,125 mg), and 20 mEq (1,500 mg) product from the United States Food & Drug Administration (USFDA).
Buzzing: Shares of Zee Entertainment Enterprises fell more than 3 percent after promoters of the media organisation relinquished stake worth Rs 332 crore in recent months.
Gold Update: Gold inched up on Tuesday, but was trading near a more than three-week low touched in the previous session as the US dollar strengthened and equities rose.
Market Opens: Indian indices opened higher on Tuesday with Nifty around 11,700 level.
At 09:16 hrs IST, the Sensex is up 86.98 points or 0.22% at 38958.85, and the Nifty up 9.70 points or 0.08% at 11678.90. About 505 shares have advanced, 169 shares declined, and 43 shares are unchanged.
The major gainers are Eicher Motors, Dr Reddys Lab, TCS, Infosys, Titan, Maruti Suzuki, Asian Paints while losers include Zee Entertainment, BPCL, Kotak Mahindra and HCL Tech.
Among the sectors, IT, Infra, FMCG, energy are trading higher, while some selling seen in the metal and banking stocks.
Rupee Opens: The Indian rupee slipped in the early trade on Tuesday. It opened lower by 12 paise at 69.27 per dollar versus Friday's close 69.15.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session.
At 09:01 hrs IST, the Sensex is up 82.60 points or 0.21% at 38954.47, and the Nifty up 46.60 points or 0.40% at 11715.80.
Tata Motors, Tech Mahindra, ONGC, IndusInd Bank are trading higher.
Crude Update: Oil prices rose to fresh highs for the year on Tuesday, after a US official said Washington is considering more sanctions on Iran and a key Venezuelan export terminal halted operations.
Asian markets trade higher: Asia shares extended their rally on Tuesday as factory activity surveys from China and the United States boosted investor confidence, triggering the largest one-day sell-off in the US Treasury market in nearly three months.
US markets end higher: US stocks rallied on Monday, starting off the second quarter on a strong note, as upbeat manufacturing numbers from China and the United States eased worries about slowing global growth.
SGX Nifty: Trends on SGX Nifty indicate a positive opening for the broader indices in India, a gain of 17 points or 0.14 percent. Nifty futures were trading around 11,751-level on the Singaporean Exchange.