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Oct 18, 2019 04:49 PM IST | Source:

Closing Bell: Sensex ends 246 pts higher, Nifty at 11,662; YES Bank, Maruti top gainers

The 30-share Sensex closed 246 points, or 63 percent higher at 39,298.38, with 24 stocks in the green, while Nifty finished 76 points, or 0.65 percent up at 11,661.85, with 35 stocks up and 15 down.

  • Oct 18, 05:33 PM (IST)

    Ambuja Cements Q2 results: The company has reported 31.3 percent jump in its September quarter (Q2FY20) standalone net profit at Rs 234.6 crore versus net profit of Rs 178.6 crore in the same quarter last fiscal.

    The standalone revenue was flat at Rs 2,626.1 crore against Rs 2,613.9 crore, YoY.

  • Oct 18, 05:06 PM (IST)

    Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities:

    The market has run up mainly due to renewed consistent interest from FIIs and higher possibilities of good set of numbers from Index giants Reliance Industries and HDFC Bank. 

    Technically, the market has broken strong falling trend line at 11,600 that started from 12,100 (Nifty)/40,300 (Sensex).  It gives an indication that sooner or later, the market going to achieve 12,100. Strategy should be to buy on dips.

  • Oct 18, 04:57 PM (IST)

    Technical view: The index is now near the September high of 11,694. Once this level gets taken out, Nifty can head towards 11,790, which is the 78.6 percent retracement of the June – August decline. From a trading perspective, buy on dips would be the strategy to go with. For Nifty, 11,550-11,500 will be the key support area to watch out for.

    --Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas.

  • Oct 18, 04:54 PM (IST)

    Sectors and stocks: Barring Nifty Media, which fell 1 percent, all sectoral indices logged gains today, with Realty, Metal and PSU Bank rising up to 2 percent. 

    On the broader market front – S&P BSE Midcap index was up 1.78 percent while the S&P BSE Smallcap index gained 1.65 percent. 

    Top Nifty gainers: Yes Bank, Coal India, Adani Ports.

    Top Nifty losers: Zee Entertainment, Tata Motors, Cipla.

  • Oct 18, 04:53 PM (IST)

    Expert's view: We may see some consolidation in Nifty after the recent surge while movement on the stock-specific would continue. In the absence of any major event, global cues and earnings will continue to dictate the market trend. The underperformance of the banking index is still a concern and will be closely tracked. We suggest preferring index majors and select midcap for short-term trading.

    --Ajit Mishra, Vice President - Research, Religare Broking

  • Oct 18, 04:47 PM (IST)

    Data point: In these six sessions of gains, both key indices have jumped about 4 percent and the market capitalisation of BSE-listed firms jumped to Rs 1,49,57,618.99 crore from Rs 1,43,21,595.59 crore on October 10, making investors richer by Rs 6.36 lakh crore. On October 18 alone, investors became richer by Rs 1.67 lakh crore.

  • Oct 18, 04:46 PM (IST)

    Expert take: Market is extending the gains in anticipation of better quarter results from next week after the subdued start this week. Globally, improvement in sentiments on Brexit deal and trade talks are helping the market led by positive inflows from FIIs.

    --Vinod Nair, Head of Research at Geojit Financial Services.

  • Oct 18, 03:43 PM (IST)

    Lupin gains 2% as Nagpur unit receives EIR from USFDA

    Shares of Lupin gained 2 percent on October 18 after company’s Nagpur facility received Establishment Inspection Report from the US health regulator. The stock closed at Rs 740.30 on the BSE.

    The facility was inspected by the US Food and Drug Administration between August 5 and August 8, 2019. The inspection for the oral solid facility at Nagpur closed without any Form 483 observation, the pharma major said in its BSE filing.

  • Oct 18, 03:33 PM (IST)

    Indoco Remedies gains 7% on zero observation from USFDA

    Shares of Indoco Remedies added more than 7 percent intraday on October 18 after USFDA completed inspection with zero 483s. The company’s clinical research organisation (CRO), AnaCipher, located at Hyderabad successfully cleared the United States Food and Drug Administration (USFDA) inspection with zero 483s, as per company release.

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