Sensex, Nifty gain on D-Street; Sun Pharma top loser
Sensex, Nifty gain on D-Street; Sun Pharma top loser
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Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.46%, while the Nikkei 225 led the Hang Seng lower. They fell 1.46% and 0.11% respectively.
Indian equity indices closed on a positive note. The BSE finished at 27,591.14 above 132.15 points or 0.48% and that of NSE at 8543.55 up by 46.50 points or 0.55%.
Sun Pharma stocks cracks by Rs 21.55 or 3.28% on BSE, trading at Rs 635.70 on reports that its Mohali plant is being inspected by US FDA.
Nifty bank and PSU index have erased early trading gains.
Investors dampened Britannia Industries shares after it made some changes in its managerial personnel. The company appointed N Venkataraman as the chief executive officer. Venkataraman has been serving as Vice President of Finance of Britannia. Following the development, the shares on BSE were trading at Rs 3240.90 down by 62.30 or 1.89% at 2.59 pm.
Shares of BHEL were trading at Rs 143.10 on BSE, above nearly 3% after it reported positive Q2 earnings. The company witnessed a net profit of Rs 109 crore for the second quarter ended September 30, 2016 as against a net loss of Rs 108.78 crore in the corresponding period of the previous year. Net profit grew 40.15% on a quarter-on-quarter (qoq) basis.
Hindalco Industries shares were up by 2.57% on BSE, trading at Rs 171.80 after the company said to weigh $500 Million share sale amid stock rally.
Auto index was the top gainer on BSE, by soaring over 198 points or 0.91% at 22,093.29. Among the gainers were - Tata Motors at Rs 536.20 up by 5.70% and Ashok Leyland at Rs 91.65 above 2.23%. While Bajaj Auto and MRF were also trading positive in the range of 0.30% -0.70% at Rs 2847.05 and Rs 50,993.10 respectively. On the losers side were - Motherson Sumi at Rs 309.45 (1.90%), followed by Maruti Suzuki at Rs 5637 (1.46%), Amara Raja Batteries at Rs 1002.20 (1.31%) and Bharat Forge at Rs 852 (0.73%).
European indices were trading positive on Tuesday's trading session. DAX was above 0.06% at 10,462.99, while England's FTSE 100 was up by 0.14% trading at 6817.35. On the other hand France's CAC 40 remained flat at 4462.25.
Shares of Bharat Forge slumped by 0.96% on BSE, trading at Rs 850, after it reported weak Q2 earnings. The reported net profit of Rs 126.89 crore for the second quarter of September 30, 2016, witnessing decline of 26.34% year-on-year (yoy) but growth of 3.95% quarter-on-quarter.
Tata Motor's shares surged over Rs 30 or 6% on BSE, trading at Rs 537.70 after the company confirmed that foreign investors have not raised any concern over its Governance.
Sensex-Nifty working with negligible growth.
Reliance Communication was trading at Rs 44.50 down by 0.78% on BSE after the company said Aptel upholds principle of fuel cost pass-through under section 62 for Vidarbha Industries Power Ltd.
Bharti Airtel on Tuesday said Venkatesh Vijayaraghavan who serves as Chief Executive Officer of Market Operations AP under the company has raplaced Rohit Malhotra - CEO of its B2C operations. Shares of Bharti Airtel was trading at Rs 304.30 down by 0.33%.
Indian market off their highs.
Pharma index shrinked by 109.35 points or 1.01% to 10709.40 on NSE as US goes to vote for its new president today. Sun Pharma was the top loser on the index by slumping over Rs 15 or 2.37% to Rs 639.40. It was followed by Glaxo Smith Kline Pharmaceutical at Rs 2730.50 (2.02%), Divis Laboratories at Rs 1243.70 (1.82%) and Aurobindo Pharma at Rs 759.25 (1.05%).
Interestingly Dr Reddy's Laboratories was the only gainer on the index by jumping over Rs 38 or 1.23%, trading at Rs 3145. A two-years ago investigation by the US Congress into the drug price hikes of 10 generic is now the topic in the US election. Among the Indian companies – Sun Pharma, Dr Reddy’s Laboratories and Cadila Healthcare also saw investigation in their drugs. Shares of Cadila Healthcare was also down by 0.99% trading at Rs 379.95.
Top financial results to watchout for today - Ashok Leyland, Bharat Heavy Electrical Limited, Bharat Forge, Interglobe Aviation aka Indigo, Tata Communications and PTC India Financial Services. Except Ashok Leyland remaining all the companies share price are trading positive in the range of 0.30%-3.20% on BSE. Ashok Leyland shares slumped by 0.61% on BSE.
Shares of CEAT was trading at Rs 1232.85 up by Rs 12.35 or 1.01% post Q2 earnings. The company's consolidated net profit saw sequential rise of 1.55% year-on-year to Rs 106.92 crore as compared to Rs 105.28 crore in the corresponding period last year.
US to vote new president today.
Kris Gopalkrishnan co-founder of Infosys talks about how US election will impact the IT sector. Know what he has to say on it
JSW Steel on Tuesday released its October sales report. Under which, its Crude Steel increased by 31% to 13.35 lakh tonnes. After the development, shares of the company surged over Rs 26 or 1.63% on BSE, trading at Rs 1627 at 10.20 am.
Varun Beverages - the 18th IPO of this fiscal year made its market debut on Tuesday trading session. Shares of Varun Beverages dropped by Rs 18 or 4.03% on BSE, trading at Rs 428.05. It got listed on BSE at Rs 430, which was a 3.37% discount from its issue price of Rs 445 per share. The company came for IPO to raise Rs 1,100 crore from the issue. During its issue the IPO got oversubscribed by 1.86 times.
Top gainers on BSE were - Tata Motors at Rs 527.20 surging by 3.92%, followed by ICICI Bank at Rs 285 above 2.24%, Bajaj Auto at Rs 2863.05 up by 1.24%. Also Tata Consultancy Service and Infosys were among the gainers by trading in the range of 0.60% - 0.85% at Rs 2301.50 and Rs 985.35 respectively.
Indian Rupee was trading at 66.721 against the US Dollar. This was down by 0.025 points or 0.04% against the previous close of 66.745.
ICICI Bank is rallying on today's trading session post Q2 earnings. The bank's stock were trading at Rs 285.05 up by 2.28%. ICICI Bank reported net profit of Rs 3102.27 crore for the second quarter ended September 30, 2016, registering growth of 2.38% year-on-year (yoy) and 38.96% quarter-on-quarter (qoq).
On Tuesday early tradings Indian market open positive. Sensex was trading above 96 points or 0.32% to 27,555.14, while NSE was at 8523.80 up by 27 points or 0.31%. Overall the 30-stock index was positive with 20 advances and 10 declines and that of 51-script index had 35 advances, 15 declines and 1 remaining unchanged. This was followed by gains from Nifty futures traded on the Singapore Exchange amid strong global cues.
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