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Sep 06, 2018 03:36 PM IST | Source: Moneycontrol.com

Closing Bell: Rupee recovery, rally in index heavyweights help Nifty reclaim 11,500; Sensex up over 200 points

Among sectors, banks lost some sheen in the last half hour, but strength in pharmaceuticals, energy, and infrastructure names helped the bulls to hold their grip on the market.

  • September 06, 2018 03:36 PM IST

    Market at Close: Sentiment on the market moved in tandem with the rupee’s movement on Thursday. A recovery in the Indian rupee, after it fell to a record low of 72.10/USD, helped the market end the day in green as well. The Nifty reclaimed 11,500-mark and ended above the threshold. 

    Along with the currency, rally in index heavyweights such as Reliance Industries and HDFC twins helped indices see a strong surge as well. Among sectors, banks lost some sheen in the last half hour, but strength in pharmaceuticals, energy, and infrastructure names helped the bulls to hold their grip on the market. 

    Having said that, investors will make a note of rupee’s movements ahead, with the currency hitting 72 per dollar again at the time of market coming to close.  

    At the close of market hours, the Sensex ended higher by 224.50 points or 0.59% at 38242.81, while the Nifty closed higher by 59.90 points or 0.52% at 11536.90. The market breadth is positive as 1,582 shares advanced, against a decline of 1,105 shares, while 191 shares were unchanged.

    Reliance Industries, Sun Pharmaceuticals, and Cipla were the top gainers, while Maruti Suzuki, Yes Bank, Zee Entertainment and Hindalco lost the most. 

  • September 06, 2018 03:23 PM IST

    CLSA maintains buy on Reliance Industries: Shares of Reliance Industries added 3 percent as broking house CLSA has maintained buy call on company. The broking house raised target price to Rs 1500 from Rs 1365 per share with a potential upside of 22 percent.

    According to firm, grand omni-channel strategy may be a big long-term promise for the stock.

    It removed holding company discount on retail and Jio to raise target. Its high customer engagement is going to create a big market opportunity.

  • September 06, 2018 03:13 PM IST

    Buzzing: Share price of Power Grid Corporation of India surged 3.5 percent as broking house Axis Capital has maintained hold with a target of Rs 197 per share.

    Broking house believes that era of high earnings growth is over and expect considerably lower earnings CAGR of 7% over FY18-20.

    The upcoming CERC’s tariff policy for 2019-22 is a key overhang. At CMP, stock valuation appears cheap at 11x FY19/FY20 P/E, it added.

  • September 06, 2018 03:05 PM IST

    Market Update: Bulls seem to be taking charge on D-Street on Thursday even as the rupee touched fresh record low earlier. But a recovery in the currency along with a rally in index heavyweights such as Reliance Industries and HDFC twins is helping the market surge ahead. 

    Among sectors, pharmaceuticals have extended their surge while energy names are in the green too. Banks are trading strong, while auto, infra, IT, and metals are in the green. The Nifty Midcap index is up around half a percent. 

    The Sensex is up 258.97 points or 0.68% at 38277.28, and the Nifty up 67.70 points or 0.59% at 11544.70. The market breadth is positive as 1,532 shares advanced, against a decline of 1,037 shares, while 163 shares were unchanged.

  • September 06, 2018 01:58 PM IST

    Market Update: After seeing some weakness post the rupee’s fall, bulls are fighting it out on D-Street. 

    Banking names are trading in the green, while automobiles, FMCG and metals are marginally in the red. Pharmaceuticals continue to be the big gainers along with energy names too. Midcaps have recovered from their low points.

    The Sensex is up 117.22 points or 0.31% at 38135.53, while the Nifty is higher by 27.40 points or 0.24% at 11504.40. The market breadth is positive as 1,356 shares advanced, against a decline of 1,147 shares, while 152 shares were unchanged.

  • September 06, 2018 01:45 PM IST

    The rupee has fallen over 3 percent in the past one month. 

     The rupee has fallen over 3 percent in the past one month. 
  • September 06, 2018 12:49 PM IST

    Rupee hits 72/$: Equity markets have given up all their gains from Thursday morning, particularly after the rupee touched a record low. The Indian currency managed to hit 72 per US dollar mark. A strengthening dollar is seen as responsible for this upmove. 

    Among benchmarks, the Nifty has managed to stay below 11,500, while the Sensex is trading flat. 

    Sectorally speaking, pharmaceuticals continue to be the lead gainers along with banks, auto, FMCG and metals. Midcaps, too, have seen a sharp selloff, with the Nifty Midcap index down over one-third of a percent. 

    The Sensex is down 9.34 points or 0.02% at 38008.97, while the Nifty is down 11.70 points or 0.10% at 11465.30. The market breadth is narrow as 1,345 shares advanced, against a decline of 1,034 shares, while 144 shares are unchanged.

  • September 06, 2018 12:17 PM IST

    Buzzing: Shares of Bharti Infratel touched 52-week low of Rs 266, down nearly 2 percent as its consolidated revenue to reduce by Rs 780 crore per annum from the merger of Vodafone-Idea.

    On completion of Vodafone-Idea merger Bharti Infratel and Indus Towers, where the company holds 42% equity, have received exit notices, which would result in exit of 27,447 co-locations for the company on a consolidated basis.

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