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Markets continue gaining in afternoon trade; HDFC Bank off day's high

HDFC Bank gained 8.34% as RBI saying foreign investors can now buy more shares in the company

Pranati Deva  |  New Delhi 

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Benchmark indices continued gaining but were off their early morning highs in the after noon trade after RBI put back in its FII bank list. The Central Bank said the private bank has crossed overall limit of 74% of its paid-up capital and no further purchases of shares the bank would be allowed via exchanges for FIIs.
 
At 1:47 pm, the S&P BSE was trading at 28,480, up 179 points, while the broader Nifty50 was ruling at 8,823, up 45 points.


 
In the broader market, BSE and BSE gained 0.4% and 0.5% respectively.
 
On Thursday, foreign portfolio investors (FPIs) sold shares worth a net Rs 215.69 crore, while Domestic institutional investors (DIIs) bought shares worth a net Rs 846.11 crore, provisional data available with BSE showed.
 
zooms

pared gains but was still trading up 3% after the RBI put the bank back in its FII bank list. The shares rose as much as 8.34% during the morning deals post RBI removed the bank from the FII ban lost. 

Market cap of HDFC surpassed that of RIL's post the announcement. Bank also reached its record high of 21,042 led by rally in banks.

Other Stocks
 

Indiabulls Housing Finance and Indian Oil Corporation gained 2.28% and 2% respectively after reports that they will replace and in NSE’s benchmark index The changes will come into effect from March 31, 2017, according to the announcement. and Idea fell 2% and 1.8% respectively.

HDFC Bank, Axis Bank, HDFC and Sun Pharma were the top gainers on BSE while Infosys, HeroMoto Corp, ITC and Bajaj Auto were the biggest laggards.
 
Global Markets
 
Asian stock took a breather on Friday from their recent surge as investors took profits, while the dollar inched up after Thursday's slide and optimism over possible renewed supply cuts by OPEC lifted oil prices.
 
MSCI's broadest index of Asia-Pacific shares outside Japan pulled back 0.2%, on track to end the week up 1.2%, its fourth straight week of gains. Until Thursday, the index surpassed its previous intraday high for seven consecutive sessions, and closed at 19-month highs in the past two.
 
A batch of positive economic data out of Asia this week, driven by improving exports and rising commodity prices, has bolstered shares, although concerns linger that any protectionist threats posed by US President Donald Trump could reverse the recovery.
 
Japan's Nikkei slid 0.7%, set to close 0.9% lower for the week. Australian shares were down 0.2%, shrinking the week's gains to 1.4%. Asian peers Hang Seng and Shanghai were trading lower by 0.29%, and 0.19%, respectively, in morning deals.
 
Overnight, Wall Street put in a mixed performance, with the Dow Jones Industrial Average barely eking out its sixth straight record high, while the S&P 500 and Nasdaq snapped a seven-day winning streak as investors paused their buying to digest recent gains.
(with Agency inputs)

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Markets continue gaining in afternoon trade; HDFC Bank off day's high

HDFC Bank gained 8.34% as RBI saying foreign investors can now buy more shares in the company

HDFC Bank gained 8.34% as RBI saying foreign investors can now buy more shares in the company Benchmark indices continued gaining but were off their early morning highs in the after noon trade after RBI put back in its FII bank list. The Central Bank said the private bank has crossed overall limit of 74% of its paid-up capital and no further purchases of shares the bank would be allowed via exchanges for FIIs.
 
At 1:47 pm, the S&P BSE was trading at 28,480, up 179 points, while the broader Nifty50 was ruling at 8,823, up 45 points.
 
In the broader market, BSE and BSE gained 0.4% and 0.5% respectively.
 
On Thursday, foreign portfolio investors (FPIs) sold shares worth a net Rs 215.69 crore, while Domestic institutional investors (DIIs) bought shares worth a net Rs 846.11 crore, provisional data available with BSE showed.
 
zooms

pared gains but was still trading up 3% after the RBI put the bank back in its FII bank list. The shares rose as much as 8.34% during the morning deals post RBI removed the bank from the FII ban lost. 

Market cap of HDFC surpassed that of RIL's post the announcement. Bank also reached its record high of 21,042 led by rally in banks.

Other Stocks
 

Indiabulls Housing Finance and Indian Oil Corporation gained 2.28% and 2% respectively after reports that they will replace and in NSE’s benchmark index The changes will come into effect from March 31, 2017, according to the announcement. and Idea fell 2% and 1.8% respectively.

HDFC Bank, Axis Bank, HDFC and Sun Pharma were the top gainers on BSE while Infosys, HeroMoto Corp, ITC and Bajaj Auto were the biggest laggards.
 
Global Markets
 
Asian stock took a breather on Friday from their recent surge as investors took profits, while the dollar inched up after Thursday's slide and optimism over possible renewed supply cuts by OPEC lifted oil prices.
 
MSCI's broadest index of Asia-Pacific shares outside Japan pulled back 0.2%, on track to end the week up 1.2%, its fourth straight week of gains. Until Thursday, the index surpassed its previous intraday high for seven consecutive sessions, and closed at 19-month highs in the past two.
 
A batch of positive economic data out of Asia this week, driven by improving exports and rising commodity prices, has bolstered shares, although concerns linger that any protectionist threats posed by US President Donald Trump could reverse the recovery.
 
Japan's Nikkei slid 0.7%, set to close 0.9% lower for the week. Australian shares were down 0.2%, shrinking the week's gains to 1.4%. Asian peers Hang Seng and Shanghai were trading lower by 0.29%, and 0.19%, respectively, in morning deals.
 
Overnight, Wall Street put in a mixed performance, with the Dow Jones Industrial Average barely eking out its sixth straight record high, while the S&P 500 and Nasdaq snapped a seven-day winning streak as investors paused their buying to digest recent gains.



(with Agency inputs)
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Business Standard
177 22

Markets continue gaining in afternoon trade; HDFC Bank off day's high

HDFC Bank gained 8.34% as RBI saying foreign investors can now buy more shares in the company

Benchmark indices continued gaining but were off their early morning highs in the after noon trade after RBI put back in its FII bank list. The Central Bank said the private bank has crossed overall limit of 74% of its paid-up capital and no further purchases of shares the bank would be allowed via exchanges for FIIs.
 
At 1:47 pm, the S&P BSE was trading at 28,480, up 179 points, while the broader Nifty50 was ruling at 8,823, up 45 points.
 
In the broader market, BSE and BSE gained 0.4% and 0.5% respectively.
 
On Thursday, foreign portfolio investors (FPIs) sold shares worth a net Rs 215.69 crore, while Domestic institutional investors (DIIs) bought shares worth a net Rs 846.11 crore, provisional data available with BSE showed.
 
zooms

pared gains but was still trading up 3% after the RBI put the bank back in its FII bank list. The shares rose as much as 8.34% during the morning deals post RBI removed the bank from the FII ban lost. 

Market cap of HDFC surpassed that of RIL's post the announcement. Bank also reached its record high of 21,042 led by rally in banks.

Other Stocks
 

Indiabulls Housing Finance and Indian Oil Corporation gained 2.28% and 2% respectively after reports that they will replace and in NSE’s benchmark index The changes will come into effect from March 31, 2017, according to the announcement. and Idea fell 2% and 1.8% respectively.

HDFC Bank, Axis Bank, HDFC and Sun Pharma were the top gainers on BSE while Infosys, HeroMoto Corp, ITC and Bajaj Auto were the biggest laggards.
 
Global Markets
 
Asian stock took a breather on Friday from their recent surge as investors took profits, while the dollar inched up after Thursday's slide and optimism over possible renewed supply cuts by OPEC lifted oil prices.
 
MSCI's broadest index of Asia-Pacific shares outside Japan pulled back 0.2%, on track to end the week up 1.2%, its fourth straight week of gains. Until Thursday, the index surpassed its previous intraday high for seven consecutive sessions, and closed at 19-month highs in the past two.
 
A batch of positive economic data out of Asia this week, driven by improving exports and rising commodity prices, has bolstered shares, although concerns linger that any protectionist threats posed by US President Donald Trump could reverse the recovery.
 
Japan's Nikkei slid 0.7%, set to close 0.9% lower for the week. Australian shares were down 0.2%, shrinking the week's gains to 1.4%. Asian peers Hang Seng and Shanghai were trading lower by 0.29%, and 0.19%, respectively, in morning deals.
 
Overnight, Wall Street put in a mixed performance, with the Dow Jones Industrial Average barely eking out its sixth straight record high, while the S&P 500 and Nasdaq snapped a seven-day winning streak as investors paused their buying to digest recent gains.



(with Agency inputs)

image
Business Standard
177 22