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Dec 12, 2018 03:38 PM IST | Source: Moneycontrol.com

Closing Bell: Bulls take charge on D-Street as Sensex ends 629 pts higher; Nifty above 10,700

At the close of market hours, the Sensex closed up 629.06 points or 1.79% at 35779.07, while the Nifty rose 188.40 points or 1.79% at 10737.60.

  • Dec 12, 03:38 PM (IST)

    Market at Close: Bulls took charge right from the word go and consistently traded in the green. But intense buying in the last hour helped the market end on an even stronger note. The Nifty, not only managed to clock 10,700, but also closed above this mark. 

    Buying was visible across all sectors, with maximum gains seen among automobiles, metals, banks, infrastructure and consumption names. In the broader market, the Nifty Midcap index ended 3 percent higher. 

    At the close of market hours, the Sensex closed up 629.06 points or 1.79% at 35779.07, while the Nifty rose 188.40 points or 1.79% at 10737.60. The market breadth was positive as 1,882 shares advanced, against a decline of 645 shares, while 139 shares were unchanged.

    Hero MotoCorp, Bharti Airtel, and Indiabulls Housing gained the most, while Dr Reddy’s Laboratories, and Bharti Infratel lost the most. 

  • Dec 12, 03:09 PM (IST)

    Ramco wins order: ​Ramco Systems has secured deal from a leading adversary air (ADAIR) services provider to the US defence forces, to manage its fleet of fighter aircraft used for highly complex training fleet and defence contract requirements.

  • Dec 12, 02:59 PM (IST)

    Rating Agency CARE Ratings has reaffirmed CARE A1+ rating on Shree Cements' Commercial Papers of Rs 300 crore.

  • Dec 12, 02:47 PM (IST)

    Market Update: Benchmark indices extend the gain in the afternoon trade with Nifty above 10,700, while Sensex is up over 500 points.

    At 14:47 hrs IST, the Sensex is up 539.36 points or 1.53% at 35689.37, while Nifty up 162.50 points or 1.54% at 10711.70. About 1797 shares have advanced, 621 shares declined, and 115 shares are unchanged. 

  • Dec 12, 02:30 PM (IST)
  • Dec 12, 02:22 PM (IST)

    UPDATE | Torrent Power has ought a nod from Gujarat regulator to hike tariffs so that it could offset under-recoveries. The company said that the tariff hike will help it recover Rs 275 crore. 

  • Dec 12, 01:53 PM (IST)

    ALERT | UK PM May to face vote of no confidence in her leadership 

  • Dec 12, 01:27 PM (IST)

    Opinion | Shaktikanta Das will have to prove he is his own man

    Shaktikanta Das, the new Governor of the Reserve Bank of India (RBI), is taking charge of the central bank in less than propitious circumstances. His predecessor’s resignation was clearly a protest against the government trying to impose its will on the institution. In that context, Das’ most important task is a simple one --he will have to prove that he is his own man.

    Admittedly, the new incumbent at Mint Street starts off with a handicap. While his vast experience in managing economic affairs is not in question, he has an unfortunate reputation as the man under whom the government launched its controversial demonetisation programme. The speed with which he has been appointed has also raised questions whether this was the government’s game plan all along.

    While several bureaucrats from the Finance Ministry have gone on to become excellent RBI governors and have asserted their independence, they did not assume office in similar circumstances. Simply put, Das will have to prove his independence. The dice is loaded against him, which means that given the circumstances, he will initially be seen to have been appointed to obey the diktats of the Finance Ministry. He will not only have to take an independent line, but must be seen to do so. He will have to work extra hard to show he is no pushover.

    Read the full version here

  • Dec 12, 01:18 PM (IST)
  • Dec 12, 01:08 PM (IST)

    JUST IN | The company has approved additional annual clinker capacity of 1.4 million tonnes (taking the total clinker capacity to 3.1 million tonnes), additional cement grinding capacity of 1.8 million tonnes and Captive Power Plan & Waste Heat Recovery System at Marwar Mundwa at an additional estimated cost of Rs.960 crores taking the total investment to Rs 2,350 crore.

  • Dec 12, 12:35 PM (IST)
  • Dec 12, 12:10 PM (IST)

    JUST IN | ACC Board Grants Nod to set up a greenfield integrated cement plan at Ametha.

  • Dec 12, 11:55 AM (IST)

    ALERT | According to a report by CNBC-TV18, Shaktikanta Das has assumed charge as the Governor of Reserve Bank of India.

      ALERT |  According to a report by CNBC-TV18, Shaktikanta Das has assumed charge as the Governor of Reserve Bank of India.
  • Dec 12, 11:52 AM (IST)

    JUST IN | Vivimed Labs said that its 50:50 joint venture (JV), Strides Vivimed has received an approval from the US Food and Drug Administration for Albendazole Tablets. The drug is used at certain infections caused by tapeworm. It also prevents newly hatched insect lawae (worms) from growing or multiplying in the body.

  • Dec 12, 11:49 AM (IST)

  • Dec 12, 11:30 AM (IST)

    ACC approves expansion proposals: ACC board granted its approval for setting up a Greenfield Integrated Cement Plant at Ametha, District Katnl, Madhya Pradesh along with expansion of the existing grinding unit in Tikaria, Uttar Pradesh and a third grinding unit also in Uttar Pradesh. Also approved the setting up of 1.1 MTPA Cement Grinding Facility at the existing location at Sindri, Jharkhand.

  • Dec 12, 11:25 AM (IST)

    JUST IN | The company has received a Letter of Award (LoA) of work from Ministry of Skill Development and Entrepreneurship, Govt. of India for construction of office building i.e. Kaushal Bhawan at New Delhi. The estimated cost of project is Rs 172 crore.

  • Dec 12, 11:16 AM (IST)

    Buzzing: Shalby shares gained nearly 3 percent in morning on Wednesday after signing memorandum of understanding with International SOS for providing medical assistance to foreign travellers in India.

  • Dec 12, 11:04 AM (IST)

    Rupee Update: Indian rupee is recovered from the day's low but trading lower at 71.96 per dollar.

  • Dec 12, 10:57 AM (IST)

    Zydus Wellness to acquire Heinz India: Shares of Zydus Wellness gained 2 percent on Wednesday after company received CCI approval for acquisition of businesses of Heinz.

  • Dec 12, 10:24 AM (IST)

    Buzzing: Share price of Ashok Leyland jumped 3 percent intraday Wednesday after company signed Memorandum of Understanding (MoU) with Israel's ​ELBlT Systems.

    As part of this agreement, Ashok Leyland will provide High Mobility vehicles (HMV) for mounting Elbit Systems' artillery guns and systems. 

  • Dec 12, 10:13 AM (IST)

  • Dec 12, 10:02 AM (IST)

    Financials rally: Shares of banks and non-banking financial companies (NBFCs) soared in trade after the government appointed a successor to Urjit Patel. The Centre on Tuesday announced the appointment of Shaktikanta Das, former finance secretary to lead the Reserve Bank of India (RBI).

    Yes Bank, Kotak Mahindra Bank, IDFC Bank, Federal Bank, and Punjab National Bank, among others rose 1-4 percent. 

    In the NBFC space, Indiabulls Housing Finance, HDFC and Bajaj Finance among others, too, rose up to 2 percent. 

  • Dec 12, 09:41 AM (IST)

    Banks under PCA rise Banks such as Allahabad Bank, Oriental Bank of Commerce and United Bank of India, among others, are surging in trade today after Shaktikanta Das was chosen as the RBI Governor. 

     Banks under PCA rise  Banks such as Allahabad Bank, Oriental Bank of Commerce and United Bank of India, among others, are surging in trade today after Shaktikanta Das was chosen as the RBI Governor. 
  • Dec 12, 09:22 AM (IST)

    Yes Bank surges Shares of Yes Bank traded around 3 percent higher ahead of its Board Meeting to name a successor to Rana Kapoor. 

  • Dec 12, 09:18 AM (IST)

    Market opens It is a positive start for the market on Wednesday morning, as investors reacted to double news of Shaktikanta Das being appointed RBI governor as well as results to state elections in five states. 

    The Sensex is up 128.23 points or 0.36% at 35278.24, while the Nifty is higher by 33.20 points or 0.31% at 10582.40. The market breadth is positive as 314 shares advanced, against a decline of 93 shares, while 12 shares were unchanged.

    All sectoral indices are trading in the green, with most gains seen in metals, infrastructure, banks and automobiles. 

    Shares of Yes Bank and Sun Pharmaceuticals and Indiabulls Housing were the top gainers, while Coal India, ICICI Bank, and Dr Reddy's Laboratories lost the most. 

  • Dec 12, 09:13 AM (IST)

    RUPEE OPENS The Indian rupee opened lower by 35 paise at 72.20 per dollar on Wednesday versus 71.85 yesterday.

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