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Sensex, Nifty: Markets rise for third consecutive day; Sugar stocks gain

Livemint logo Livemint 31-08-2016 Livemint

Stock markets continued their winning run for the third straight session on Wednesday on widespread gains amid sustained foreign fund inflows. The gauge had gained 560.76 points in the previous two sessions. All the sectoral indices, led by realty, banking and healthcare were trading in the positive zone. Brokers said sentiment was largely bolstered on sustained foreign fund inflows and persistent buying by domestic financial institutions as well as retail investors. Besides, a firming trend at other Asian markets boosted sentiment, they said.

Here are the updates:

3:35pm: BSE Sensex gains 109.16 points, or 0.39%, to 28,452.17.

2:25pm: BSE Sensex gains 137.74 points, or 0.49%, to 28,480.75, while the Nifty rises 61.35 points, or 0.70%, to 8,805.70.

2:20pm: J Kumar Infraprojects falls 1.54% to `169.35 on BSE after HDFC Standard Life Insurance Company sold 6.10 lakh shares in the company at average price of `172.53 in a bulk deal on NSE yesterday, 30 August 2016.

2:10pm: Surya Roshni rises as much as 5.20% to `192.20 on BSE after media reports suggested that two private equity firms have evinced interest in buying the Indian company’s lighting business.

2:00pm: Hindustan Construction gains 19.83% to `27.50 the highest gainer among the BSE500 stocks on Government Policy as India Cabinet approves proposal on construction sector. Shares of GVK Power gained 8.4%; Punj Lloyd gained 6.5%; Jaiprakash Associates gained 4.9%; Power Finance gained 4.8% and GMR Infrastructure gained 3.3%.

1:50pm: Rane Brake Lining clocked volume of 63,000 shares on BSE, a 32.42-times surge over two-week average daily volume of 1,956 shares. The stock jumped 10% to `797.75.

1:40pm: Indraprastha Medical Corporation rises as much as 3.05% to `59.20 on BSE after net profit rose 18.7% to `8.38 crore on 2.16% rise in net sales to `186.69 crore in Q1 June 2016 over Q1 June 2015.

1:30pm: Goodyear India rises 3.10% to `573 on BSE after net profit rose 11.36% to `41.28 crore on 2.46% fall in net sales to `415.38 crore in the quarter ended 30 June 2016 over the quarter ended 30 June 2015.

1:20pm: TCS falls 1% to `2,523.15 per share after it announced that it has developed an innovative digital solution to connect Intelligent LEDs, to GE’s Predix operating system for the industrial Internet through Intel Atom-based gateways, providing critical analytics to save significant time and costs in the manufacturing process.

1:10pm: BSE Sensex gains 98.40 points, or 0.35%, to 28,441.41, while the Nifty rises 44.25 points, or 0.51%, to 8,788.60.

1:00pm: HDFC rises 1.27% after the company’s announcement that it is aiming to raise `500 crore by issuing rupee denominated bonds to overseas investors. HDFC said the rupee denominated overseas bond issue will open today, 31 August 2016 and will close tomorrow, 1 September 2016. The bonds will be listed on the London Stock Exchange (LSE).

12:50pm: Indraprastha Medical Corporation rises 3.05% to `59.20 on BSE after net profit rose 18.7% to `8.38 crore on 2.16% rise in net sales to `186.69 crore in Q1 June 2016 over Q1 June 2015.

12:40pm: Hindustan Copper rises 6.36% to `69.40 on BSE after the company said it has executed a joint venture agreement with Chhattisgarh Mineral Development Corporation.

12:30pm: IDBI Bank rises 2.49% to `74.20 on BSE after the bank said that it has raised `1,500 crore through issue of Basel III compliant Additional Tier-1 bonds on private placement basis to strengthen bank’s capital adequacy.

12:20pm: DLF Ltd falls 0.5% to `161.40. The justice S.N. Dhingra-led commission, which is probing the grant of licences for change in land use (CLU) in four villages of Gurgaon, including the licence granted to a company (Sky Light Hospitality Private Limited ) owned by Robert Vadra, the son-in-law of Congress party president Sonia Gandhi, will submit its report to the Haryana Government on Wednesday.

12:10pm: Hindustan Copper Ltd rises 3.5% to `67.50. Hindustan Copper said that it is in pact with Chhattisgarh Mineral Development for exploration, mining and beneficiation of copper ‘and itsassociated minerals in the state of Chhattisgarh.

12:00pm: Tata Motors Ltd rises 3.05% to `544.40. The stock gained 103% since 11 February.

11:45am: Sugar stocks are trading higher. Mawana Sugars Ltd rises 9%, Upper Ganges Sugar & Industries Ltd rises 12%, Sakthi Sugars Ltd rises 7.4%, KCP Sugar & Industries Corp Ltd 6%, Balrampur Chini Mills Ltd 3.2%, Andhra Sugars Ltd rises 6.1%, Bajaj Hindusthan Sugar Ltd rises 2%, Dalmia Bharat Sugar and Industries Ltd rises 6.4%, Dhampur Sugar Mills Ltd rises 4.4%.

11:30am: BSE Sensex gains 76.01 points, or 0.27%, to 28,419.02, while the Nifty rises 33.45 points, or 0.38%, to 8,777.80.

11:20am: RBL shares are up 34.47% on the BSE at `302.44 a share, compared to its issue price of `225. The stock opened at `273.70 and touched a high and a low of `304 and `273.70 respectively.

11:10am: IT stocks fall. Infosys Ltd falls 0.5%, Tata Consultancy Services Ltd falls 0.8%, Wipro Ltd falls 0.5%.

11:00am: Ultratech Cement Ltd rises 3.2% to `4,012. The Reserve Bank of India has allowed foreign investors to invest up to 30% in the company.

10:50am: Cox & King Ltd falls 1.4% to `191.60 after the company reported 23.67% dip in consolidated net profit to `108.07 crore in the June quarter.

10:40am: Goodyear India Ltd rises 2.2% to `568.10 after the company said its net profit rose 11.4% to `41.28 crore in June quarter against `37.07 crore a year ago.

10:30am: SREI Infrastructure Finance Ltd rises 4% to `78.75. According to CNBC report, the company likely to make announcement of merger and acquisition on 1 September.

10:20am: Delta Corp Ltd falls 3.1% to `157.45 on profit booking. The company said in a notice to BSE that its board approved buying 26% stake in Gauss Network.

10:10am: Jain Irrigation Systems Ltd rises 1.6% to `84.70. The company clarified after Maharashtra government scrapped 95% projects saying it does not have any projects in such scrapping.

10:00am: Crompton Greaves Ltd rises 3.3% to `84.65. The company reported consolidated net loss of `9.51 crore in June quarter lower than net loss of `62.20 crore a year ago. Total income rose 34.70% to `1,441.34 crore

9:50am: The 30-share S&P BSE Sensex is currently trading higher by 123.79 points, or 0.44%, to 28,466.80, while the Nifty 50 of the National Stock Exchange (NSE) rises 45.45 points, or 0.52%, to 8,789.80.

9:40am: Kotak Mahindra Bank Ltd rises 2% to `800.75. The Reserve Bank of India today gave a go-ahead to Canada Pension Plan Investment Board (CPPIB) to almost double its holding in Kotak Mahindra Bank. CPPIB already holds 4.89% in the bank which it had bought in multiple tranches.

9:35am: According to Bloomberg analyst estimates, GDP may be at 7.5% compared with 7.9% in the March quarter.

9:30am: The Indian rupee on Wednesday weakens marginally against the US dollar at 67.06 per dollar, down 0.05% from its previous close of 67.03, ahead of the key gross domestic product (GDP) and fiscal deficit data due after 5.30pm.

9:25am: The 10-year bond yield is trading at 7.103%, compared with its Tuesday’s close of 7.11%.

9:20am: The dollar rises to ¥102.95 from ¥102.33 late on Tuesday. The euro slips to $1.1159 from $1.1174.

9:15am: In energy trading, benchmark US crude oil falls 9 cents to $46.26. It fell 63 cents to $46.35 a barrel on Tuesday. Brent crude falls 8 cents to $48.65 a barrel.

9:10am: Japan’s benchmark Nikkei 225 gains 0.8% to 16,857.07 in morning trading. South Korea’s Kospi loses 0.3% to 2,033.35. Hong Kong’s Hang Seng is up nearly 0.1% to 23,033.97, while the Shanghai Composite slips 0.1% to 3,071.32.

9:00am: Asian stocks are mixed in listless trading on Wednesday ahead of key jobs data later this week in the US that could lead to higher interest rates.

8:50am: The Dow Jones industrial average fell 48.69 points, or 0.3%, to 18,454.30, amid extremely light trading. The Standard & Poor’s 500 index fell 4.26 points, or 0.2%, to 2,176.12 and the Nasdaq composite fell 9.34 points, or 0.2%, to 5,222.99.

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