Sensex soars over 300 points on D-Street, on GST hopes

Top losers on BSE were, Dr. Reddys Laboratories, Axis Bank and Adani Ports together ending marginally down at Rs. 3,080.15, Rs. 528.50 and Rs. 207.40 respectively. 

Top gainers on BSE were SBI at RS. 215.65 surging by 3.90%, followed by NTPC at Rs. 153.95 up 3.88% and L&T at Rs. 1,509.95 rose 3.38%. 

State Bank of India was among the top gainer on Bank Nifty, on Cabinet approving for merger of its subsidiary. Shares of the bank ended at Rs. 215.25 up by 7.55 points or 3.64%. It has reached a high and low of Rs. 217.55 and Rs. 208.55 respectively. Total traded volume stood at 4,83,33,866 with traded value of 1,03,323.31.

NSE Nifty reached at 8,200.95, surging over 90 points with 41 advances and 9 declines. Total traded volume stood at 1,748.34 crore with turnover of Rs. 6,941.90 crore. 

BSE Sensex on D-Street surged over 300 points at 26,713.29. The rise was pinned down on hopes for implementation of long waited GST Bill. The index opened at 26,500.79, 100 points above its previous closing of 26,395.71. It had 25 advance and 5 declines on Wednesday trading session. Total turnover stood at Rs. 403.42 crore with volume of 10,417,981.

State Bank of India and its subsidiaries surged on Wednesday trading session, on Cabinet approving the merger of the five subsidiaries of SBI and Bharatiya Mahila Bank. SBI was trading at Rs. 216.55 up 4.34%. While its subsidiaries State Bank of Mysore, State Bank of Bikaner and Jaipur and State Bank of Travamcore together rose 20% trading at Rs. 547.90, Rs. 600 and Rs. 479 respectively. 

 

Persistent System rose marginally at Rs. 705, on receiving the highest scores for overall capabilities in the Ovum decision Matrix for distributed agile delivery models. 

At 3 pm, Sensex was rallying at 353 points and that of Nifty at 88 points. 

Bharti Infratel faced selling pressure on announcements of buy back around 4.70 crore equity shares at Rs 425 per share from June 16. The script of the company dips by 3% at Rs. 367.70. 

NTPC rose on BSES agreeing to clear the company's dues by September. Shares of the company were trading at Rs. 152, up by 3.80 points or 2.56%. The script opened at Rs. 149, slightly above its previous close of Rs. 148.20. Total traded quantity has was around Rs. 1.97 lakhs against its two weeks average quantity of Rs. 1.91 lakhs. 

During afternoon session, BSE Sensex rose 135.14 points or 0.51% at 26,530.85 and that NSE Nifty stood at 8,147.15 up by 38.30 points or 0.47%. The 30 stock index was positive with 23 advances and 7 declines, while 50 stock index recorded 37 advances and 14 declines. At 1 pm, top gainers on BSE were Hero Motocorp at Rs. 3082.8 up 2.56% and Bharti Airtel at Rs. 351.05 jumped 2.45%. Top losers were Bharti Infratel at Rs. 368.8 dipping by 3.15% and Axis Bank marginally down at Rs. 524.85. 

Aviation stocks rise on rumours of new civil aviation policy. Spice Jet soared by 5% trading at Rs. 67.35, followed by InterGlobe Aviation at Rs. 1026 up 3.6%, Global Vectra Helicorp at Rs. 80, rising 2.7% and Jet Airways at Rs. 572.50, up 2.39%.

Alstom T&D India trades in red, marginally down at Rs. 367.60, after recieving two orders from Power Grid Corporation.  The company is awarded with two projects worth Rs. 2020 million from Power Grid for execution of projects in Madhya Pradesh. The script opened at Rs. 373, above its previous closing of Rs. 369.95. It has reached a high and low of Rs. 380 and Rs. 367.60 respectively. 

Metal stocks are trading in red. The index is down by 36 points or 0.44% trading at Rs. 8197.34. It opened higher at Rs. 8281.12 from its previous closing of Rs. 8233.21. Out of 10 stocks only 3 stocks are trading on a positive note. Vedanta Limited is top gainer by trading marginally up at Rs. 115.60

Infosys will close the quarterly trading window in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015 on June 16, 2016 and the trading window will open on July 17, 2016. Shares of the company were trading marginally up at Rs. 1182.55. The script opened at Rs. 1180, higher from its previous close of Rs. 1175.20. Total trading quantity is around Rs. 0.19 lakhs against its two weeks average quantity of Rs. 1.77 lakhs.