Sensex gains 227 points; PSU banks rally
14 May 2019
Market close: Benchmark indices closed in the green after falling for nine consecutive sessions. Sensex was up 227 points at 37,318.53, while Nifty closed at 11,222, up 73.80 points. About 1223 shares have advanced, 1260 shares have declined, and 132 shares are unchanged.
Sun Pharma, Bharti Airtel, Indiabulls Housing and Vedanta were among top index gainers, while TCS, Tech Mahindra, HCL Technologies and Bajaj Finance were among the top losers on the index.
Except IT that fell over 1 percent, all sectoral indices were trading in the green. PSU Bank is the biggest gainer, surging about 3 percent.
Nifty Midcap 100 was up 80 points at 16737.25, while Nifty Smallcap 100 was at 6,142.80, up 43 points
Jet Airway's temporary suspension leaves over 750 slots vacant at domestic airports in the country. The Slot Allocation Committee has allocated nearly 480 of Jet's slots to other airlines.
SpiceJet has been allotted the most slots at 130 followed by IndiGo, which received 125 slots. Vistara was the third biggest gainer at 110 slots, while GoAir, AirAsia India got around 40-45 slots.
Market update: Sensex is down 64.86 points or 0.17 percent at 37025.96. Nifty is down 16.80 points or 0.15 percent at 11131.40. About 816 shares have advanced, 1304 shares have declined, and 109 shares are unchanged.
Sun Pharma, Vedanta and Indiabulls Housing were among top gainers. TCS, Bajaj Auto, Tech Mahindra and Tata Steel were among the biggest losers.
ITC: Buy rating, Target at Rs 400 per share
Vodafone Idea: Sell rating, Target cut to Rs 12.50 per share from Rs 27 per share
HDFC: Buy rating, Target raised to Rs 2,500 per share from Rs 2,360 per share
ITC: Buy rating, Target raised to Rs 375 per share from Rs 350 per share
Vodafone Idea: Buy rating, Target at Rs 70 per share
HDFC: Buy rating, Target at Rs 2,300 per share
ITC: Outperform rating, Target at Rs 376 per share
HDFC: Maintain outperform, Target cut to Rs 2,350 per share from Rs 2,400 per share
Market Opens: It is flat opening for market as Nifty has opened at 11,151.65, up 3 points. Sensex has opened at 37,146.58.
About 316 shares have advanced, 713 shares have declined, and 35 shares are unchanged.
Sun Pharma, Vedanta, Reliance, IndusInd Bank, ITC, Adani Ports and Eicher Motors are among major gainers on the indices, while losers are Tata Steel, Infosys, ONGC, Asian Paints and L&T.
Among sectoral indices, FMCG, Pharma and PSU banks are trading higher.
Rupee Opens: The Indian rupee marginally added in the early trade on Tuesday. It opened higher by 1 paise at 70.51 per dollar versus previous close 70.52 yesterday.
Wall Street ends lower: Wall Street sank on Monday after China defied Washington by announcing retaliatory tariffs, the latest salvo in the two countries' increasingly belligerent trade war, sending investors fleeing equities for less risky assets.
Asian market trade lower?: Shares in Asia extended losses on Tuesday following sharp falls on Wall Street overnight, the yen strengthened and US Treasury yields ticked lower as the trade war between China and the United States escalated.