Mumbai: The benchmark 30-share S&P BSE Sensex closed at a new peak of 30,750, while the NSE Nifty 50 closed over 9,500 mark. Earlier, it rose over 300 points in the afternoon trade on Thursday after rebounding about 123 points in early trade on fresh buying by investors, tracking a firm trend in other Asian bourses. The NSE Nifty too gained over 100 points, rising over 9,450 points. Short-covering of bets, today being the last session of May expiry in the derivatives segment, supported the recovery.
The 30-share index, which had lost 269.33 points in the previous two sessions, spurted by 122.99 points, or 0.40%, to 30,424.63. FMCG, realty, IT, capital goods, consumer durables, banking, tech, oil&gas, auto, PSU and metal sectors were leading the rally.
The NSE Nifty was also trading higher by 34.15 points, or 0.36%, at 9,394.70. Brokers said market sentiment improved largely in tandem with a firming trend at other Asian bourses, tracking overnight gains at Wall Street as minutes from the Federal Reserve’s latest policy meeting pointed to a June rate hike and indicated healthy US economy.
Here are the latest updates:
■ 3.40pm: Sensex closes at new peak of 30,750.03, zooms 448.39 points, while Nifty up 149.20 points at 9,509.75.
■ 3.10pm: BSE Sensex is currently trading higher by 461.88 points, or 1.52%, to 30,763.52; Nifty 50 of the NSE rises 153.80 points, or 1.64%, to 9,514.3.
■ 2.45pm: Shares of Raymond came under massive selling pressure on Thursday, plunging nearly 10% in early trading session after proxy advisory firm IiAS warned that a proposed real estate deal will result a loss of over Rs650 crore for the company and its shareholders. Read more
■ 2.30pm: BSE Sensex is currently trading higher by 310.78 points, or 1.03%, to 30,612.42; Nifty 50 of the NSE rises 108.95 points, or 1.16%, to 9,469.50
■ 2pm: The rupee was trading at 64.53, up 0.34% from its Wednesday’s close of 64.73 at 2pm. The rupee opened at 64.56 a dollar.
■ 1.30pm: BSE Sensex is currently trading higher by 220.20 points, or 0.73%, to 30,521.84; Nifty 50 of the NSE rises 71.85 points, or 0.77%, to 9,432.40
■ 1.25pm: Banking stocks trading higher. ICICI Bank rose 3.2%, Yes Bank rose 2.3%, Indusind Bank 1.7%, Federal Bank 1.5%, State Bank of India 1.3%, Bank of Baroda 1.2%, HDFC Bank 1.1%, Axis Bank 0.8%.
■ 12.30pm: BSE Sensex is currently trading higher by 191.33 points, or 0.63%, to 30,492.97; Nifty 50 of the NSE rises 60.50 points, or 0.65%, to 9,421.05.
■ 12.15pm: IT stocks trading higher. Infosys Ltd rose 2%, TCS rose 1.8%, HCL Technologies Ltd 1.3%, Tech Mahindra Ltd 2%, Wipro Ltd 0.8%.
■ 12pm: Larsen & Toubro Ltd rose 4.1% to Rs1,754.55. The company will announce its March quarter earnings on 29 May. According to 20 Bloomberg analyst estimates, the company may post net profit of Rs2,650.50 crore, while revenues will be at Rs36,582.20 crore.
■ 11.45am: PC Jeweller Ltd rose 3.1% to Rs444 after the company said it reported 40% jump in its net profit for March quarter to Rs110.05 crore against Rs78.78 crore a year ago.
■ 11.30am: BSE Sensex is currently trading higher by 160.17 points, or 0.53%, to 30,461.81; Nifty 50 of the NSE rises 52.60 points, or 0.56%, to 9,413.15.
■ 11.15am: Jaiprakash Associates Ltd rose 7.6% to Rs10.05. The company has said in a notice to BSE that it will hold meeting on 15 June in Singapore to seek bond holders consent on extraordinary resolution.
■ 10.50am: Pharma stocks were trading lower. Glenmark Pharma fell 2.6%, Divi’s Laboratories Ltd 2.5%, Dr Reddy’s Laboratories 2.2%, Sun Pharmaceuticals Industries Ltd 2.1%, Dishman Pharma 1.8%, Cadila Healthcare 1.6%, Cipla Ltd 1.1%, Wockhardt ltd 1.1%.
■ 10.30am: BSE Sensex is currently trading higher by 141.24 points, or 0.47%, to 30,442.88; Nifty 50 of the NSE rises 43.85 points, or 0.47%, to 9,404.40.
■ 10.25am: Sintex Industries Ltd surged 26% after it fixed record date of 26 May for the purpose of determination of entitlement for allotment equity shares as per the Composite Scheme of Arrangement.
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■ 10am: BSE Sensex is currently trading higher by 125.67 points, or 0.41%, to 30,427.31; Nifty 50 of the NSE rises 36.15 points, or 0.39%, to 9,396.70.
■ 9.40am: Lupin Ltd fell 7.7% to Rs1,143 after its consolidated net profit in the Mach quarter fell 49% from a year ago to Rs380.21crore, missing analysts’ estimates by a wide margin. Read more
■ 9.35am: Dish TV India Ltd fell 7% to Rs85.60 after the company posted surprised net loss of Rs28.30 crore in March quarter. Its revenue fell 6.3% to Rs708.60 crore.
■ 9.30am: Videocon Industries Ltd hits lower circuit for fourth consecutive sessions. The stock fell 10% to Rs 52.55 a share. Since last four days it fell over 50%.
■ 9.25am: GVK Power & Infrastructure Ltd fell 8.3% to Rs 5.10 after the company said its net loss widened to Rs 205.85 crore in March quarter from Rs 105.59 crore a year ago.
■ 9.15am: The rupee opened at 64.56 a dollar. At 9.15am, the rupee was trading at 64.51, up 0.34% from its Wednesday’s close of 64.73. Read more
■ 9.10am: The 10-year bond yield was trading at 6.673% compared to its previous close of 6.681%. Bond yields and prices move in opposite directions.
■ 9am: The dollar rose to 111.90 yen from 111.76 yen. The euro edged up to $1.1195 from $1.1185.
■ 8.50am: Asian currencies were trading higher. South Korean won was up 0.78%, Malaysian ringgit 0.33%, Taiwan dollar 0.32%, China renminbi 0.3%, Thai baht 0.22%, Indonesian rupiah 0.17%, Philippines peso 0.14%, China offshore 0.11% and Singapore dollar 0.08%. However, Japanese yen was down 0.11%.
■ 8.40am: US stocks rose for the fifth consecutive day Wednesday as investors went on a late buying spree. The gains came after news that the Federal Reserve plans to start reducing its huge portfolio of bonds. The Standard & Poor’s 500 index closed at a record high.
The Standard & Poor’s 500 index picked up 5.97 points, or 0.2%, to 2,404.39. The Dow Jones industrial average gained 74.51 points, or 0.4%, to 21,012.42. The Nasdaq composite rose 24.31 points, or 0.4%, to 6,163.02.