Live: Sensex, Nifty Surge; Tech Shares Rally
Market Check: Sensex, Nifty Surge
Indian equities rebound after falling for six consecutive trading sessions.
The S&P BSE Sensex rose 1.5 percent to 38,860 and the NSE Nifty 50 rose 1.48 percent to 11,368. The broader markets represented by the NSE Nifty 500 Index rose 1.6 percent.
Sectoral Check: NSE Nifty IT Index Best Performer
All the 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty IT Index’s 2.7 percent advance.
Large Trade Alert: Yes Bank
About 11 lakh shares of Yes Bank changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Manufacturing PMI Eases In February
The Markit India Manufacturing Purchasing Managers’ Index fell to 54.5 in February from 55.3 in January, according to a statement. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
Affle India Halts Two-Day Losing Streak
Shares of Affle India halted their two-day losing streak. The stock rose as much as 8.2 percent to Rs 1,947.
The company acquired mobile advertising technology company Mediasmart and Calle García de Paredes for a cash consideration of €5.12 million.
The scrip declined 13 percent in the past five days and rose 12 percent in the past 30 days. Affle India traded at 72 times its estimated earnings per share for the coming year, according to Bloomberg data.
F&O Check: Nifty 11,500 Call Option Premium Jumps 41%
Nifty’s 11,500 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on March 5, rose 41.39 percent to Rs 55. About 76,875 shares were removed from the open interest which stood at over 18.32 lakh shares.