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MARKETS ON THURSDAY: Indices end higher, Sensex up 96 points; metals rise

Benchmark indices ended higher on Thursday on the back of gains in metal stocks

SI Reporter  |  New Delhi 

Bonds, Stock markets, Shares, Trading

Nifty Metal Index ends 4.52% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) HIND.COPPER 80.00 71.40 8.60 12.04 HINDALCO INDS. 264.50 242.80 21.70 8.94 NATL. ALUMINIUM 87.10 80.15 6.95 8.67 VEDANTA 310.45 291.10 19.35 6.65 WELSPUN CORP 151.75 143.25 8.50 5.93 Sectoral Performers BSE Sensex: Tata Steel, Yes Bank among top gainers, Axis Bank top loser Market at close   The S&P BSE Sensex ended at 34,427, up 96 points while the broader Nifty50 index settled at 10,565, up 39 points. Idea Cellular hits 52-week low; stock falls 35% in 2018 Idea Cellular hit a 52-week low of Rs 70, down 2% on the BSE, on concerns of delay in merger between the company and Vodafone India. The stock of telecom services provider trading at its lowest level since January 20, 2017, has fallen 35% thus far in the current calendar year 2018. READ MORE Vedanta's Electrosteel buy is value-accretive; move to buoy earnings Mining major Vedanta has taken a step towards adding steel to its armoury, which is expected to buoy its value and earnings.   With the company’s resolution plan for acquisition of Electrosteel Steels being approved by the National Company Law Tribunal, Vedanta will be acquiring a 90 per cent stake in the latter. READ MORE

Benchmark ended higher on Thursday on the back of gains in metal as global aluminium prices soared, while the country’s biggest software services exporter, Tata Consultancy Services, rose ahead of its results.

The metal index jumped as much as 4.2% as aluminium prices on the London Metal Exchange surged 5% to their highest in almost seven years on Thursday.

Investors cheered March-quarter results of IT firm Mindtree, sending the to their all-time high, while cement maker ACC climbed to a five-week high after reporting a 19% jump in quarterly profit late Wednesday.

In the global markets, resource were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014 and ignited a rally across commodities, though the potential boost to inflation globally also put some pressure on fixed-income assets.

Resource were the big winners driving Australia's main index up 0.6 per cent. Japan's Nikkei gained 0.6 per cent, led by a 2.9 per cent rise in basic materials. MSCI's broadest index of Asia-Pacific outside Japan added 0.8 per cent, with energy up over 2 per cent.

(with wire inputs)

First Published: Thu, April 19 2018. 15:30 IST
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MARKETS ON THURSDAY: Indices end higher, Sensex up 96 points; metals rise

Benchmark indices ended higher on Thursday on the back of gains in metal stocks

Benchmark indices ended higher on Thursday on the back of gains in metal stocks
Benchmark ended higher on Thursday on the back of gains in metal as global aluminium prices soared, while the country’s biggest software services exporter, Tata Consultancy Services, rose ahead of its results.

The metal index jumped as much as 4.2% as aluminium prices on the London Metal Exchange surged 5% to their highest in almost seven years on Thursday.

Investors cheered March-quarter results of IT firm Mindtree, sending the to their all-time high, while cement maker ACC climbed to a five-week high after reporting a 19% jump in quarterly profit late Wednesday.

In the global markets, resource were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014 and ignited a rally across commodities, though the potential boost to inflation globally also put some pressure on fixed-income assets.

Resource were the big winners driving Australia's main index up 0.6 per cent. Japan's Nikkei gained 0.6 per cent, led by a 2.9 per cent rise in basic materials. MSCI's broadest index of Asia-Pacific outside Japan added 0.8 per cent, with energy up over 2 per cent.

(with wire inputs)
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Business Standard
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MARKETS ON THURSDAY: Indices end higher, Sensex up 96 points; metals rise

Benchmark indices ended higher on Thursday on the back of gains in metal stocks

Benchmark ended higher on Thursday on the back of gains in metal as global aluminium prices soared, while the country’s biggest software services exporter, Tata Consultancy Services, rose ahead of its results.

The metal index jumped as much as 4.2% as aluminium prices on the London Metal Exchange surged 5% to their highest in almost seven years on Thursday.

Investors cheered March-quarter results of IT firm Mindtree, sending the to their all-time high, while cement maker ACC climbed to a five-week high after reporting a 19% jump in quarterly profit late Wednesday.

In the global markets, resource were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014 and ignited a rally across commodities, though the potential boost to inflation globally also put some pressure on fixed-income assets.

Resource were the big winners driving Australia's main index up 0.6 per cent. Japan's Nikkei gained 0.6 per cent, led by a 2.9 per cent rise in basic materials. MSCI's broadest index of Asia-Pacific outside Japan added 0.8 per cent, with energy up over 2 per cent.

(with wire inputs)

image
Business Standard
177 22