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Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

All that happened in today's trade

SI Reporter  |  New Delhi 

markets, stocks, sensex, nifty, bse, nse

The benchmark indices edged higher on Thursday with market heavyweights Coal India, Tata Steel and Larsen & Toubro (L&T) leading the rise, while PSU banks stocks rallied as the government sought parliament approval for Rs 800 billion extra spending to recapitalise state banks as part of a move to help lenders deal with bad debts and revive credit growth.

Investors now await December-quarter results, including from Tata Consultancy Services and that are scheduled late next week, amid signs the economy is recovering after the withdrawal of high-denomination currency bills in late 2016 and the introduction of the goods and services tax (GST) last year.

Meanwhile, Activity in India's services industry bounced back to modest growth in December after contracting in the previous month. The Nikkei/IHS Markit Services Purchasing Managers' Index, which is based on a survey of private sector companies, rose to 50.9 in December from 48.5 in November. The 50 mark separates growth from contraction.

Overseas, Asian shares vaulted to 10-year highs on Thursday as solid economic data from the United States and Germany reinforced investors’ optimism, while oil prices hovered at a 2-1/2-year high with unrest in Iran stoking supply disruption concerns.

4:00 PM

Anand James, Chief Market Strategist, Geojit Financial Services 
 
Release of the next instalment of funds earmarked for bank recapitalisation proved to be a shot in the arm for PSBs, especially as some of the weak banks had been hauled up by RBI for prompt and corrective action. FOMC minutes and firmness in global equity peers also helped, but with oil hovering around $62, markets were measured in their rise.

3:48 PM Sectoral trend 

sectors
Source: NSE

3:42 PM

Markets at close
 
The S&P BSE Sensex ended at 33,969, up 176 points, while the Nifty50 settled at 10,504, up 61 points.

 
S&P BSE Sensex 33,920.50 Up 0.38%
 
Nifty 50 10,481.70 Up 0.37%
 
S&P BSE 200 4,671.62 Up 0.47%
 
Nifty 500 9,483.10 Up 0.46%
 
S&P BSE Mid-Cap 17,922.63 Up 0.58%
 
S&P BSE Small-Cap 19,490.18 Up 0.75%

3:41 PM Sensex heatmap at close 

heatmap
Source: BSE



3:21 PM

Buzzing stock

Aurionpro Solutions surged 15% to Rs 284, also its 52-week high on BSE in intra-day trade, after Cyberinc, the company's subsidiary, entered into a definitive agreement with KPMG LLP, USA, for sale of its Identity and Access Management (IAM) business. The transaction is expected to close on January 31, 2018.
 
“Cyberinc’s IAM business is the largest independent IAM provider in the world. The proposed sale will require participation of Cyberinc US, UK, Australia and Aurionpro India,” Aurionpro Solutions said in a regulatory. READ MORE

3:10 PM PSU bank stocks rally on bank recap plans 

The Indian government on Thursday sought parliament approval for Rs 800 billion ($12.62 billion) extra spending to recapitalise state banks as part of a move to help lenders deal with bad debts and revive credit growth. READ MORE

PSU-Bank
Source: NSE

First Published: Thu, January 04 2018. 15:36 IST
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Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

All that happened in today's trade

All that happened in today's trade
The benchmark indices edged higher on Thursday with market heavyweights Coal India, Tata Steel and Larsen & Toubro (L&T) leading the rise, while PSU banks stocks rallied as the government sought parliament approval for Rs 800 billion extra spending to recapitalise state banks as part of a move to help lenders deal with bad debts and revive credit growth.

Investors now await December-quarter results, including from Tata Consultancy Services and that are scheduled late next week, amid signs the economy is recovering after the withdrawal of high-denomination currency bills in late 2016 and the introduction of the goods and services tax (GST) last year.

Meanwhile, Activity in India's services industry bounced back to modest growth in December after contracting in the previous month. The Nikkei/IHS Markit Services Purchasing Managers' Index, which is based on a survey of private sector companies, rose to 50.9 in December from 48.5 in November. The 50 mark separates growth from contraction.

Overseas, Asian shares vaulted to 10-year highs on Thursday as solid economic data from the United States and Germany reinforced investors’ optimism, while oil prices hovered at a 2-1/2-year high with unrest in Iran stoking supply disruption concerns.

image
Business Standard
177 22

Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

All that happened in today's trade

The benchmark indices edged higher on Thursday with market heavyweights Coal India, Tata Steel and Larsen & Toubro (L&T) leading the rise, while PSU banks stocks rallied as the government sought parliament approval for Rs 800 billion extra spending to recapitalise state banks as part of a move to help lenders deal with bad debts and revive credit growth.

Investors now await December-quarter results, including from Tata Consultancy Services and that are scheduled late next week, amid signs the economy is recovering after the withdrawal of high-denomination currency bills in late 2016 and the introduction of the goods and services tax (GST) last year.

Meanwhile, Activity in India's services industry bounced back to modest growth in December after contracting in the previous month. The Nikkei/IHS Markit Services Purchasing Managers' Index, which is based on a survey of private sector companies, rose to 50.9 in December from 48.5 in November. The 50 mark separates growth from contraction.

Overseas, Asian shares vaulted to 10-year highs on Thursday as solid economic data from the United States and Germany reinforced investors’ optimism, while oil prices hovered at a 2-1/2-year high with unrest in Iran stoking supply disruption concerns.

image
Business Standard
177 22