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Sensex up 1%, Nifty holds 8,600; Metal stocks gain

Livemint logo Livemint 12-08-2016 Livemint

Taking cues from upbeat global markets, the BSE Sensex recaptured the 28,000-level by surging over 290 points and NSE Nifty breached the 8,600-mark on Friday on continued buying by investors ahead of IIP and inflation data scheduled to be released later in the day.

US stocks closed at record highs on Thursday as surging oil prices and strong earnings buoyed investor sentiment, giving a boost to Asian markets.

Here are the updates:

3:30pm: BSE Sensex gains 292.80 points, or 1.05%, to 28,152.40.

2:20pm: BSE Sensex gains 278.15 points, or 1%, to 28,137.75, while the Nifty 50 rises 70.85 points, or 0.82%, to 8,663.

2:05pm: State Bank of India rises 0.3% to `227.55 ahead of its June quarter earnings. According to 23 Bloomberg analyst poll, the bank may post net profit of `2,503.10 crore.

1:45pm: Glenmark Pharmaceuticals Ltd rises 3.5% to `864. The company said its net profit rose 24% in June quarter to `226.78 crore against `182.95 crore a year ago. Total income rose 22.13% to `2,018.97 crore.

1:30pm: Deepak Fertilisers & Petrochemicals Corp Ltd fell 3.1% to `160. The company said its net profit fell 22.8% to `34.72 crore in June quarter against `45 crore a year ago. Total income fell 7.33% to `1,044.87 crore.

1:25pm: Metal stocks are trading higher. Hindalco Industries Ltd rises 3.3%, Vedanta Ltd 3.1%, Tata Steel Ltd rises 2.3%, Jindal Steel & Power Ltd rises 2.1%, NMDC Ltd 2.1%, SAIL 1.4%, Hindustan Zinc 1%, JSW Steel Ltd 1%.

1:10pm: Central Bank of India fell 4.7% to `94.40. The bank posted a loss of `599.81 crore in June quarter against net profit of `203.60 crore a year ago. Gross NPA for the quarter rose 13.52% from 6.7% a year ago.

12:55pm: Bosch Ltd fell 2.2% to `24,200. The company posted a net profit of `378.72 crore in June quarter, up 0.8% from `375.71 crore a year ago. Total income rose 10.5% to `2,698.43 crore.

12:40pm: Sudarshan Chemical Industries Ltd rises 2.5% to `306.45. The company posted a net profit of `31.51 crore in June quarter, up 73% from `18.21 crore a year ago. Net sales rose 14.06% to `333.84 crore.

12:30pm: Banking stocks trading higher. SBI up 8%, Bank of India 6.5%, Indian Bank 5.2%, Punjab National Bank 4%, Canara Bank 3.7%, Dena Bank 3.3%, Bank of Baroda 3.1%, Union Bank of India 2.7%, Axis Bank 2.6%, Allahabad Bank 2.6%, Oriental Bank of Commerce 2.5%, Yes Bank 2.4%, Syndicate Bank 2.4%, DCB Bank 2.1%, Federal Bank 2%, Uco Bank 1.9%, Jammu & Kashmir Bank 1.7%, Karnataka Bank 1.7%.

12:20pm: United Breweries Ltd fell 4% to `793 ahead of its June quarter earnings. According to 8 Bloomberg analyst, the company may post net profit of `134.50 crore while net sales will be at `1,637.70 crore.

12:05pm: Shree Cement Ltd rises 2.8% to `17,079.95 ahead of its June quarter earnings. According to 22 Bloomberg analyst, the company may post net profit of `269.20 crore while net sales will be at `2,125.30 crore.

11:50am: BSE Sensex gains 196.29 points, or 0.70%, to 28,055.89, while the Nifty 50 rises 58.85 points, or 0.65%, to 8,651.

11:40am: Allahabad Bank falls 1% to `72.45 ahead of its June quarter earnings. According to 4 Bloomberg analyst poll, the bank may post net loss of `15.28 crore.

11:30am: Bank of India falls 0.6% to `102.80 ahead of its June quarter earnings. According to 14 Bloomberg analyst poll, the bank may post net loss of `387.80 crore.

11:20am: Aban Offshore Ltd rises 1.7% to `212.20 ahead of its June quarter earnings. According to 2 Bloomberg analyst poll, the company may post net loss of `170.90 crore while net sales will be at `544.90 crore.

11:10am: Cipla Ltd rises 0.05% to `523.50 ahead of its June quarter earnings. According to 20 Bloomberg analyst poll, the company may post net profit of `372 crore while net sales will be at `3,909.50 crore.

11:00am: Hindalco Industries Ltd rises 3.3% to `146.90 ahead of its June quarter earnings. According to 17 Bloomberg analyst poll, the company may post net profit of `214.40 crore while net sales will be at `8,389.30 crore.

10:50am: Jet Airways India Ltd rises 0.8% to `551.30 ahead of its June quarter earnings. According to 4 Bloomberg analyst poll, the company may post net profit of `269.80 crore while net sales will be at `5,177.90 crore.

10:40am: Oriental Bank of Commerce falls 0.3% to `109.45 ahead of its June quarter earnings. According to 6 Bloomberg analyst poll, the bank may post net profit of `91.57 crore.

10:30am: Sun Pharmaceuticals Industries Ltd rises 1% to `817.30 ahead of its June quarter earnings. According to Bloomberg analyst poll, the company may post net profit of `1,869.20 crore while net sales will be at `8,080.80 crore.

10:20am: Dhanlaxmi Bank Ltd rises 5% to `23.60. The bank reported a profit of `5.73 crore for the first quarter against a loss of `22.71 crore in the same quarter of previous fiscal. Gross NPA came down to 7.02% for the quarter against 8.45% year ago.

10:10am: Balrampur Chini Mills Ltd rises 2.4% to `115.35. The company said it reported a net profit of `110.70 crore in June quarter against net loss of `70.36 crore a year ago. Total income rose 24% to `832.14 crore.

10:00am: JK Lakshmi Cement Ltd rises 2% to `446.60. The company said it reported a net profit of `28.64 crore in June quarter against net loss of `23.48 crore a year ago. Total income rose 32% to `787.64 crore.

9:50am: The 30-share S&P BSE Sensex is currently trading higher by 268.72 points, or 0.96%, to 28,128.32, while the Nifty 50 of the National Stock Exchange (NSE) rises 78.05 points, or 0.91%, to 8,668.30.

9:45am: Aditya Birla Nuvo Ltd falls 21% to `1,257.60 while Grasim Industries Ltd falls 6.6% to `4,238.95. The Aditya Birla Group is merging two of its main companies, Aditya Birla Nuvo Ltd (Nuvo) and Grasim Industries Ltd, both of which also serve as holding companies, in an attempt to create a stronger entity, and unlock shareholder value by spinning off and listing one of Nuvo’s subsidiaries, Aditya Birla Financial Services Ltd.

9:40am: The Indian rupee was trading little changed against the US dollar at 66.85 a dollar, down 0.02% from its previous close of 66.84, ahead of the macroeconomic data due later on Friday.

9:35am: The government will issue consumer price inflation (CPI) data for July and Index of Industrial Production (IIP) data for June on 12 August after 5.30pm. According to a poll of Bloomberg analysts, CPI will be at 5.9% in July against 5.77% in June, while IIP will be at 1.6% in June against 1.2% in May.

9:30am: The 10-year bond yield is trading at 7.092%, from its Thursday’s close of 7.083%. Since 1 July till date, foreign institutional investors (FIIs) bought $2.30 billion in equity and $1.17 billion in debt.

9:25am: The dollar strengthens to ¥101.97 from ¥101.86 on Thursday. The euro rises to $1.1144 from $1.1137.

9:15am: Benchmark US crude rises 19 cents to $43.68 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude advances 14 cents to $46.18. It gained $1.99, or 4.3 percent, to close at $46.04 in London.

9:10am: Japan’s Nikkei 225 stock index rises 0.7% to 16,856.27 and Hong Kong’s Hang Seng gains 0.8% to 22,757.22. The Shanghai Composite index adds 0.4% to 3,015.62 and Australia’s S&P/ASX 200 rises 0.3% to 5,522.10. Shares in Southeast Asia are mostly higher.

9:00am: Asian shares rises on Friday, tracking the rally in US stocks that was driven by strong gains by energy companies and retailers. Rising oil prices also lifted sentiment. The retailers’ earnings fueled optimism for the US government’s latest monthly tally of retail sales on Friday.

8:50am: The Dow Jones industrial average climbed 0.6% to 18,613.52, up 0.1%, from its last record high set on 20 July. The S&P 500 index adds 0.5% to 2,185.79, up 0.13%, the high it set on Friday. The Nasdaq composite index gained 0.5% to 5,228.40, up 0.1% from its previous high.

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