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Jun 03, 2019 03:40 PM IST | Source:

Closing bell: Nifty ends above 12,000 for 1st time, Sensex surges 553 pts; autos lead

All sectoral indices, except Media, is trading in green. Auto, IT, Realty and FMCG indices gained 1-2%.

  • Jun 03, 03:40 PM (IST)

    Market Closing

    Benchmark indices ended at record closing highs as the three-day Monetary Policy Committee meeting started. The fall in crude oil prices, stronger rupee and hope of rate cut after weak Q4 GDP data boosted sentiment.

    The BSE Sensex rallied 553.42 points or 1.39 percent to 40,267.62 and the Nifty50 jumped 165.70 points or 1.39 percent to 12,088.50 but the market breadth was negative. About 1,396 shares declined against 1,185 advancing shares on the BSE.

    Bajaj Auto, Asian Paints, Indiabulls Housing, TCS, HCL Technologies, Reliance Industries and Hero Motocorp were leading gainers among Nifty50.

    GAIL was among losers.

    Among midcaps, Just Dial, Triveni Engineering, Ashok Leyland, Strides Pharma, BEML, Dabur, Jubilant Foodworks and DLF rallied.

    Jet Airways, V-Guard Industries and Gati were under pressure.

  • Jun 03, 03:30 PM (IST)

    Triveni Engineering said board approved the share buyback for up to 1 crore shares at Rs 100 per share.

  • Jun 03, 03:27 PM (IST)

    Just In

    The US Food and Drug Administration inspected Cadila Healthcare's manufacturing facilities located at St. Louis, MO, USA of Nesher Pharmaceuticals (USA) LLC (100 percent subsidiary of Zydus Pharmaceuticals USA), from May 13 to 31, 2019.

    The inspection concluded with 3 observations at one facility and 8 observations at the other facility of Nesher Pharmaceuticals with a recommendation for ’Voluntary Action Indicated (VAI)’, the company said in its filing.

    This was a product specific pre—approval inspection with general cGMP and there were no Data Integrity (DI) related observations, it added.

  • Jun 03, 03:23 PM (IST)

    Market Update:

    The market maintained momentum in late trade with the Sensex rising 559.92 points or 1.41 percent to 40,274.12 and the Nifty climbing 169.60 points or 1.42 percent to 12,092.40.

  • Jun 03, 03:13 PM (IST)

    APL Apollo said it has completed the acquisition of production unit located at Chegunta, Hyderabad, one of the units of Shankara Building Products.

  • Jun 03, 03:10 PM (IST)

    Broader market underperforms
    Mid and smallcap indices have underperformed the benchmark. Nifty Midcap index is up 0.86 percent and the Nifty Smallcap index is up 0.35 percent. In comparison, Nifty is up 1.24 percent as of now. 

  • Jun 03, 02:50 PM (IST)

    HDFC twins surge
    HDFC twins are among the biggest contributors to the rally today. They have contributed about 160 points to Sensex's 500+ point gain. 

  • Jun 03, 02:45 PM (IST)

    The broader market indices at this hour

     The broader market indices at this hour
  • Jun 03, 02:37 PM (IST)

    Nifty Inches Towards 12,100

    Benchmark indices continued to trade at around record high levels on hope of rate cut after weak GDP data in Q4 and further fall in oil prices.

    The Sensex climbed 507.31 points or 1.28 percent to 40,221.51 and the Nifty50 rallied 147.40 points or 1.24 percent to 12,070.20.

  • Jun 03, 02:34 PM (IST)

    Rupee Update:

    The Indian rupee strengthened further in afternoon, rising 40 paise to 69.29 against the US dollar.

  • Jun 03, 02:28 PM (IST)


    Suprajit Engineering entered into an asset purchase agreement to acquire the Halogen Bulb manufacturing facility (near Chennai) from Osram India Pvt. Ltd.

    With this acquisition, Suprajit's Halogen Bulb's annual capacity will increase from 87 million to about 110 million, the company said, adding Suprajit will emerge as one of top 3 manufacturers of Halogen Bulbs in the world.

  • Jun 03, 02:25 PM (IST)

    Just In

    The RBI has approved appointment of Shri Rakesh Makhija as the Non-Executive (Part-Time) Chairman of Axis Bank.

  • Jun 03, 02:25 PM (IST)

    Top Sensex Gainers

      Top Sensex Gainers
  • Jun 03, 02:22 PM (IST)

  • Jun 03, 02:12 PM (IST)

    FMCG Index Gains Over 1%

     FMCG Index Gains Over 1%
  • Jun 03, 02:09 PM (IST)

    Market At Record High:

    Benchmark indices touched fresh record high in afternoon on hope of repo rate cut or some big reforms from government to boost economy.

    The BSE Sensex rose 412.01 points to 40,126.21 and the Nifty50 climbed 123.70 points to 12,046.50 but the market breadth is weak.

    About 1,333 shares declined against 1,050 advancing shares on the BSE.

  • Jun 03, 01:41 PM (IST)

    Rating Upgrade

    CRISIL upgraded its credit rating to AA-/Stable from A+/Stable on bank loan facilities and non-convertible debentures of Motilal Oswal Home Finance Limited, material subsidiary of Motilal Oswal Financial Services.

  • Jun 03, 01:28 PM (IST)

    Rate Cut Hope

    In terms of liquidity driven rally, in an interview to CNBC-TV18, Gautam Shroff of Edelweiss Securities said, “I think flows will continue only if we see action from the government and the Reserve Bank of India (RBI) together. So action is something which is much required. We have a policy this week. Anywhere between 25 basis points (bps) and 50 bps, if they do 50 bps then the market will surely cheer that because 25 is almost like a given and that is already priced in. So that is something that will help in action and flows will continue only after we see that decision come through.”

  • Jun 03, 01:21 PM (IST)

    European stocks traded lower as fears over the current state of global trade intensified, causing international markets to stumble.

    France's CAC, Germany's DAX and Britain's FTSE were down a percent each.

  • Jun 03, 01:10 PM (IST)

    Steel Strips Wheels achieved May 2019 total wheel rim sales of 12.10 lakh against 13.68 lakh in May 2018 representing a de-growth of 11.5 percent YoY.

  • Jun 03, 01:09 PM (IST)

    Elara Capital Sees 52% Potential Upside in Bharti Airtel

    Management confirmed a bulk of capex over FY18-19 was toward optic fiber rollout to connect towers, and peak capex is behind it, said Elara Capital which expects elevated access charges, with the new minimum tariff strategy encouraging correction of traffic asymmetry, the positive effects of which will be visible only in FY21.

    The brokerage expects debt reduction to be pushed out, as monetization of Bharti Africa and Bharti Infratel is likely only toward second half of FY20 or later.

    Elara reiterated buy with a new target price of Rs 530 from Rs 510 based on 6.5x (unchanged) FY21E EV/EBITDA adjusted for minority holding in Bharti Infratel.

  • Jun 03, 01:03 PM (IST)

    Gold Hits 2-Month High

    Gold prices rose to their highest in more than two months as heightened Sino-US trade tensions and Washington's threat of tariffs on Mexico stoked worries of a global recession and drove investors to seek refuge in safe-haven bullion. (Source: Reuters)

  • Jun 03, 12:43 PM (IST)

    Kesar Enterprises rallied 5 percent as it has started its distillery operations after a voluntary closure of about 44 months.

  • Jun 03, 12:20 PM (IST)

    TVS Motor Company registered sales of 3,07,106 units in May 2019, down 0.9 percent against 3,09,865 units in May 2018.

  • Jun 03, 12:05 PM (IST)

    Stake Buy

    Canada-based insitutional investor CDPQ bought 1.54 percent stake in M&M for Rs 1,244 crore from promoter.

    M&M said proceeds from share sale will be used for company's operational requirements.

  • Jun 03, 11:51 AM (IST)


    Quess Corp said its subsidiary acquired 53,87,155 equity shares of Allsec, representing 35.35 percent of the total share capital of Allsec by way of a block trade on the National Stock Exchange of India Limited.

    Accordingly, as on date, the subsidiary holds 93,49,095 equity shares of Allsec, representing 61.35 percent the total share capital of Allsec, it added.

  • Jun 03, 11:48 AM (IST)

    Just In

    Dilip Buildcon said its wholly owned subsidiary DBL Mangloor Highways Private Limited has received the appointed date i.e. April 12, 2019 by the National Highways Authority of India.

    The project included four laning of NH-161 from Mangloor to Telangana/Maharastra border in Telangana under Bharatmala Pariyojana on Hybrid Annuity Mode.

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