Live: Sensex, Nifty Rangebound; Jindal Steel & Power Jumps 9%
Market Check: Sensex, Nifty Rangebound
Indian equity benchmarks traded in a narrow range with marginal gains.
The S&P BSE Sensex traded 0.4 percent higher at 37,291 as of 2 p.m. and the NSE Nifty 50 traded 0.32 percent to 11,038. The broader markets represented by the NSE Nifty 500 Index traded 0.49 percent.
The market breadth was tilted in favour of buyers. About 1,308 stocks advanced and 447 shares declined on National Stock Exchange
TCS Falls For Sixth Consecutive Trading Session
Shares of Tata Consultancy Services extended declined for the sixth consecutive trading session, their longest losing streak since April 2017.
The stock fell as much as 16 percent to Rs 2,146. The scrip declined 4.6 percent in four trading sessions.
Bond Market Update: 10-Year Yield Jumps Nearly 6 Basis Points
The yield on the 10-year benchmark rose as much as 6 basis points to 6.63 percent. It had gained over 10 basis points so far this month.
Market Check: Sensex, Nifty Rangebound
Indian equity benchmarks were trading in a narrow range.
The S&P BSE Sensex traded 0.33 percent higher at 37,268 as of 1 p.m. and the NSE Nifty 50 traded 0.27 percent higher at 11,032. The broader markets represented by the NSE Nifty 500 Index traded 0.41 percent higher.
Jindal Steel & Power Jumps The Most In Nearly A Month
Shares of Jindal Steel & Power rose as much as 8.6 percent, the most since Aug. 14, to Rs 103.75.
“The company has orders to manufacture more than 3.5 lakh tonnes of railway tracks. The business amounts to about a quarter of Indian Railways’ planned purchase in the current financial year,” Bloomberg reported quoting JSPL’s Managing Director VR Sharma
“Investors see the company gaining from India’s plans to invest Rs 100 lakh crore in infrastructure,” Sharma told Bloomberg in an interview,” Sharma said in an interview.
Tata Motors Extends Gain For Fourth Day; Shares Jump Over 8%
Shares of Tata Motors extended gains for the fourth consecutive trading session. The stock rose as much as 8.3 percent to Rs 132.
The scrip was the second-best performer on Sensex and Nifty. It advanced 21 percent in four trading sessions.