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October 29, 2018 / 03:36 PM IST

Closing Bell: Sensex ends over 700 points higher, Nifty around 10,250; PSU bank index up 8%

At the close of market hours, the Sensex closed up 718.09 points or 2.15% at 34067.40, while the Nifty ended higher by 220.90 points or 2.20% at 10250.90.

  • October 29, 2018 / 03:35 PM IST

    Market at Close An extremely strong day of trade comes to a close, with the Sensex jumping over 700 points, while the Nifty ended above 10,250-mark. 

    Intense buying among PSU banks, automobiles, infra, IT, metals, and pharmaceuticals boosted the indices. The Nifty Midcap index rose 3 percent. 

    Index heavyweights such as Reliance Industries, ITC, Infosys, and TCS rallied and aided sentiment. 

    At the close of market hours, the Sensex closed up 718.09 points or 2.15% at 34067.40, while the Nifty ended higher by 220.90 points or 2.20% at 10250.90. The market breadth is positive as 1,814 shares advanced, against a decline of 769 shares, while 1,046 shares were unchanged.

  • October 29, 2018 / 03:24 PM IST

    Fund Raising: Tata Power board has approved raising Rs 5,500 crore via NCDs.

  • October 29, 2018 / 03:19 PM IST

    Market at day's high: The benchmark indices are trading at day's high level in the final hour of trading with Nifty trading above 10,250 mark.

    At 15:19 hrs IST, the Sensex is up 751.18 points or 2.25% at 34100.49, while Nifty is up 231.30 points or 2.31% at 10261.30. 

    About 1775 shares have advanced, 717 shares declined, and 1133 shares are unchanged.

  • October 29, 2018 / 03:15 PM IST

    KRBL Q2 result: The company's consolidated net profit rose 52 percent at Rs 157.2 crore against Rs 103.3 crore. Revenue was up 74 percent at  Rs 1,245 crore against Rs 715.2 crore, YoY

  • October 29, 2018 / 03:04 PM IST

    Buzzing: Shares of GTPL Hathway gained 6 percent as company won an EPC order worth Rs 1,246 crore in Gujarat.

    The company is appointed as project implementation agency (PIA) of package B for implementation of BharatNet Phase ‐ II Project in the state of Gujarat by Gujarat Fibre Grid Network (GFGNL).

  • October 29, 2018 / 02:41 PM IST

    RESULTS | Colgate Palmolive India's second quarter profit grew by 10.6 percent year-on-year to Rs 196.37 crore, driven by good volume growth and operating income.

    Profit in corresponding period last fiscal stood at Rs 177.57 crore.

    Revenue from operations during the quarter increased 7.66 percent to Rs 1,168 crore YoY, with volume growth of 7 percent.

  • October 29, 2018 / 02:23 PM IST

    Results | Gruh Finance has reported a rise of 20 percent in its net profit for September quarter at Rs 105.4 crore. 

  • October 29, 2018 / 02:14 PM IST

    Here’s how global brokerages reacted to Dr Reddy’s Q2 show. 

    Brokerage: Macquarie | Rating: Neutral | Target: Rs 2,500

    The global research firm said that the results were marginally better, driven by a strong Russia, China sales. It likes the company’s focus on cost efficiencies and rationalization of non-core assets. Reducing complex arbitrage could play spoilsport, it added. 

    Brokerage: Nomura | Rating: Buy | Target: Rs 2,704

    Nomura said that the company’s Q2 was in line with estimates and there was strength visible beyond US generics. Key near-term events likely to impact earnings, it added.  

    Brokerage: Morgan Stanley | Rating: Overweight | Target: Rs 2,729

    Morgan Stanley said that Q2 was a beat as emerging markets made up for domestic markets’ stagnation. Base business is showing growth momentum, it added.  

    Brokerage: Citi | Rating: Neutral | Target: Raised to Rs 2,680

    Citi termed the Q2 earnings were a mixed bag. It raised FY19 earnings per share (EPS) target by 10 percent, but lowered FY20-21 EPS estimates by 4-5 percent. It is factoring in slightly higher erosion in US generics. Stability in US pricing & cost control initiatives should provide a floor to base earnings, it added. 

  • October 29, 2018 / 01:23 PM IST

    Market Update Equity benchmarks have extended their gains from the morning session, with the Sensex soaring over 470 points. The Nifty is trading well above 10,150-mark. 

    The Sensex is up 473.15 points or 1.42% at 33822.46, and the Nifty up 142.30 points or 1.42% at 10172.30. The market breadth is positive as 1,622 shares advanced, against a decline of 675 shares, while 1,323 shares were unchanged.

    ICICI Bank and State Bank of India are the top gainers, while IndusInd Bank and HDFC Bank are the top losers. Reliance Industries, ITC and ICICI Bank have lost the most.  

  • October 29, 2018 / 01:07 PM IST