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Sensex ends above 28,000 mark

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Banking, IT and metal sector stocks and index heavyweights HDFC, Industries and led strong gains for key benchmark indices. The barometer index, the S&P Sensex, rose 520.91 points or 1.89% to settle at 28,050.88. The 50 index rose 157.50 points or 1.85% to settle at 8,677.90. The settled above the psychologically important 28,000 level after surpassing that level in late trade. The and the Nifty, both, hit their highest closing levels in more than a week. Gains in European and Asian stocks aided the upmove on the domestic bourses.

In overseas stock markets, European and Asian stocks edged higher with commodities-related stocks leading the gains after prices of major industrial metals and crude oil rose on a softer dollar. US stocks registered small losses yesterday, 17 October 2016, amid falling oil prices, as investors digested a number of corporate results, key economic data and remarks from a key Federal Reserve official. Fed Vice Chair Stanley Fischer reportedly warned of the dangers of low interest rates, suggesting they could lead to longer and deeper recessions, making the economy more vulnerable.

Back home, the rose 520.91 points or 1.89% to settle at 28,050.88, its highest closing level since 10 October 2016. The index rose 534.42 points or 1.94% at the day's high of 28,064.39. The index rose 122.79 points or 0.44% at the day's low of 27,652.76.

The 50 index rose 157.50 points or 1.85% to settle at 8,677.90, its highest closing level since 10 October 2016. The index rose 164.70 points or 1.93% at the day's high of 8,685.10. The index rose 35.50 points or 0.41% at the day's low of 8,555.90.

The broad market depicted strength. There were nearly two gainers against every loser on BSE. 1,905 shares rose and 926 shares declined. A total of 206 shares were unchanged. The Mid-Cap index rose 1.89%, matching the Sensex's gains. The Small-Cap index rose 1.30%, underperforming the Sensex.

The total turnover on amounted to Rs 3688.39 crore, lower than turnover of Rs 3884.29 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P Oil & Gas index (up 0.2%), the S&P Utilities index (up 0.66%), the S&P Telecom index (up 0.75%), the S&P Energy index (up 0.78%), the S&P Consumer Durables index (up 0.86%), the S&P Power index (up 0.96%), the S&P Consumer Discretionary Goods & Services index (up 1.22%), the S&P Auto index (up 1.29%), the S&P Basic Materials index (up 1.35%), the S&P FMCG index (up 1.49%), the S&P Realty index (up 1.51%), the S&P Healthcare index (up 1.64%), the S&P Teck index (up 1.68%), the S&P Metal index (up 1.82%) and the S&P IT index (up 1.84%), underperformed the Sensex. The S&P Industrials index rose 1.89%, matching the Sensex's rise. The S&P Capital Goods index (up 2.07%) and the S&P Bankex (up 2.37%), outperformed the Sensex.

IT stocks gained on renewed buying. Tech Mahindra (up 4.44%), HCL Technologies (up 3.12%), Hexaware Technologies (up 2.52%), Wipro (up 2.09%), Oracle Financial Services Software (up 1.77%), TCS (up 1.50%), Persistent Systems (up 0.93%) and MphasiS (up 0.38%), edged higher. MindTree fell 2.87%.

Index heavyweight and software major Infosys rose 1.58% at Rs 1,038.20 after the company said that its wholly owned product subsidiary EdgeVerve Systems, Emirates NBD, the leading group in Middle East and ICICI Bank announced the pilot launch of blockchain network for international remittances and trade finance. The announcement was made during market hours today, 18 October 2016.

Mastek rose 11.59% to Rs 148.30 after consolidated net profit rose 113.7% to Rs 7.7 crore on 3.9% decline in total income to Rs 128.40 crore in Q2 September 2016 over Q1 June 2016. The growth was driven by the ongoing operational improvement initiatives, effective expense management and decrease in tax expense, the company said in a release. The result was announced during trading hours today, 18 October 2016.

Index heavyweight and housing finance major rose 3.82% at Rs 1,351.80. The stock hit a high of Rs 1,354.05 and a low of Rs 1,308.15 in intraday trade.

Index heavyweight Industries rose 1.81% at Rs 1,079.30. The stock hit a high of Rs 1,082 and a low of Rs 1,062.80 in intraday trade.

Cigarette major and index heavyweight rose 2.22% at Rs 245.80. The stock hit a high of Rs 246.50 and a low of Rs 240.55 in intraday trade.

Metal and mining stocks edged higher as copper prices rose in global commodities markets. Tata Steel (up 3.46%), JSW Steel (up 3.41%), Steel Authority of India (up 2.64%), Hindustan Copper (up 2.59%), Hindustan Zinc (up 2.04%), Vedanta (up 1.77%), Jindal Steel & Power (up 1.52%), Bhushan Steel (up 1.42%), NMDC (up 1.26%), Hindalco Industries (up 1%) and National Aluminium Company (up 0.49%), edged higher.

High Grade Copper for December 2016 delivery was currently up 0.21% at $2.1115 per pound on the COMEX.

Bank stocks edged higher. Among public sector banks, Union Bank of India (up 3.84%), Bank of Baroda (up 3.15%), Canara Bank (up 2.98%), Punjab National Bank (up 2.93%), Allahabad Bank (up 2.52%), Syndicate Bank (up 1.99%), IDBI Bank (up 1.97%), Bank of India (up 1.76%), Dena Bank (up 1.51%), State Bank of India (up 1.50%), Andhra Bank (up 1.37%), United Bank of India (up 0.95%), Indian Bank (up 0.88%), Corporation Bank (up 0.86%), Bank of Maharashtra (up 0.66%) and Punjab & Sind Bank (up 0.39%), edged higher. UCO Bank (down 0.28%), Vijaya Bank (down 0.37%) and Central Bank of India (down 0.38%), edged lower.

Among private sector banks, ICICI Bank (up 4.58%), Yes Bank (up 3.23%), Federal Bank (up 2.72%), Kotak Mahindra Bank (up 1.22%), IndusInd Bank (up 0.71%) and RBL Bank (up 0.28%), edged higher. City Union Bank fell 0.73%.

Index heavyweight Bank rose 1.58% at Rs 1,257.40. The stock hit a high of Rs 1,260 and a low of Rs 1,240.15 in intraday trade.

Axis Bank rose 2.59% to Rs 532.30. The bank said it has reduced its lending rates based on marginal cost of funds based lending rate (MCLR) by 5 basis points across all tenors effective from 18 October 2016. Axis Bank said that the bank's MCLR for overnight loans will be 8.8%, the rate for one month will be 8.85% and for three months it will be 9.05%. The MCLR on 6-month loans will be 9.15% and for one-year loans the rate will be 9.2%, the bank said. MCLR on two-year loans will be 9.3% and for three-year loans the rate will be 9.35%. The announcement was made after market hours yesterday, 17 October 2016.

Separately, Axis Bank announced after market hours yesterday, 17 October 2016 that it has received request for redemption of $46 million - 7.167% Callable Hybrid Tier I Notes on 16 November 2016. The Notes were issued on 15 November 2006.

The has risen 184.92 points or 0.66% in this month so far (till 18 October 2016). The has risen 1,933.34 points or 7.40% in calendar year 2016 so far (till 18 October 2016). From a 52-week low of 22,494.61 hit on 29 February 2016, the barometer index has risen 5,556.27 points or 24.70%. From a 52-week high of 29,077.28 hit on 8 September 2016, the barometer index has fallen 1,026.40 points or 3.53%. The is off 1,973.86 points or 6.57% from a record high of 30,024.74 hit on 4 March 2015.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Sensex ends above 28,000 mark

Banking, IT and metal sector stocks and index heavyweights HDFC, Reliance Industries and ITC led strong gains for key benchmark indices. The barometer index, the S&P BSE Sensex, rose 520.91 points or 1.89% to settle at 28,050.88. The Nifty 50 index rose 157.50 points or 1.85% to settle at 8,677.90. The Sensex settled above the psychologically important 28,000 level after surpassing that level in late trade. The Sensex and the Nifty, both, hit their highest closing levels in more than a week. Gains in European and Asian stocks aided the upmove on the domestic bourses.

Banking, IT and metal sector stocks and index heavyweights HDFC, Industries and led strong gains for key benchmark indices. The barometer index, the S&P Sensex, rose 520.91 points or 1.89% to settle at 28,050.88. The 50 index rose 157.50 points or 1.85% to settle at 8,677.90. The settled above the psychologically important 28,000 level after surpassing that level in late trade. The and the Nifty, both, hit their highest closing levels in more than a week. Gains in European and Asian stocks aided the upmove on the domestic bourses.

In overseas stock markets, European and Asian stocks edged higher with commodities-related stocks leading the gains after prices of major industrial metals and crude oil rose on a softer dollar. US stocks registered small losses yesterday, 17 October 2016, amid falling oil prices, as investors digested a number of corporate results, key economic data and remarks from a key Federal Reserve official. Fed Vice Chair Stanley Fischer reportedly warned of the dangers of low interest rates, suggesting they could lead to longer and deeper recessions, making the economy more vulnerable.

Back home, the rose 520.91 points or 1.89% to settle at 28,050.88, its highest closing level since 10 October 2016. The index rose 534.42 points or 1.94% at the day's high of 28,064.39. The index rose 122.79 points or 0.44% at the day's low of 27,652.76.

The 50 index rose 157.50 points or 1.85% to settle at 8,677.90, its highest closing level since 10 October 2016. The index rose 164.70 points or 1.93% at the day's high of 8,685.10. The index rose 35.50 points or 0.41% at the day's low of 8,555.90.

The broad market depicted strength. There were nearly two gainers against every loser on BSE. 1,905 shares rose and 926 shares declined. A total of 206 shares were unchanged. The Mid-Cap index rose 1.89%, matching the Sensex's gains. The Small-Cap index rose 1.30%, underperforming the Sensex.

The total turnover on amounted to Rs 3688.39 crore, lower than turnover of Rs 3884.29 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P Oil & Gas index (up 0.2%), the S&P Utilities index (up 0.66%), the S&P Telecom index (up 0.75%), the S&P Energy index (up 0.78%), the S&P Consumer Durables index (up 0.86%), the S&P Power index (up 0.96%), the S&P Consumer Discretionary Goods & Services index (up 1.22%), the S&P Auto index (up 1.29%), the S&P Basic Materials index (up 1.35%), the S&P FMCG index (up 1.49%), the S&P Realty index (up 1.51%), the S&P Healthcare index (up 1.64%), the S&P Teck index (up 1.68%), the S&P Metal index (up 1.82%) and the S&P IT index (up 1.84%), underperformed the Sensex. The S&P Industrials index rose 1.89%, matching the Sensex's rise. The S&P Capital Goods index (up 2.07%) and the S&P Bankex (up 2.37%), outperformed the Sensex.

IT stocks gained on renewed buying. Tech Mahindra (up 4.44%), HCL Technologies (up 3.12%), Hexaware Technologies (up 2.52%), Wipro (up 2.09%), Oracle Financial Services Software (up 1.77%), TCS (up 1.50%), Persistent Systems (up 0.93%) and MphasiS (up 0.38%), edged higher. MindTree fell 2.87%.

Index heavyweight and software major Infosys rose 1.58% at Rs 1,038.20 after the company said that its wholly owned product subsidiary EdgeVerve Systems, Emirates NBD, the leading group in Middle East and ICICI Bank announced the pilot launch of blockchain network for international remittances and trade finance. The announcement was made during market hours today, 18 October 2016.

Mastek rose 11.59% to Rs 148.30 after consolidated net profit rose 113.7% to Rs 7.7 crore on 3.9% decline in total income to Rs 128.40 crore in Q2 September 2016 over Q1 June 2016. The growth was driven by the ongoing operational improvement initiatives, effective expense management and decrease in tax expense, the company said in a release. The result was announced during trading hours today, 18 October 2016.

Index heavyweight and housing finance major rose 3.82% at Rs 1,351.80. The stock hit a high of Rs 1,354.05 and a low of Rs 1,308.15 in intraday trade.

Index heavyweight Industries rose 1.81% at Rs 1,079.30. The stock hit a high of Rs 1,082 and a low of Rs 1,062.80 in intraday trade.

Cigarette major and index heavyweight rose 2.22% at Rs 245.80. The stock hit a high of Rs 246.50 and a low of Rs 240.55 in intraday trade.

Metal and mining stocks edged higher as copper prices rose in global commodities markets. Tata Steel (up 3.46%), JSW Steel (up 3.41%), Steel Authority of India (up 2.64%), Hindustan Copper (up 2.59%), Hindustan Zinc (up 2.04%), Vedanta (up 1.77%), Jindal Steel & Power (up 1.52%), Bhushan Steel (up 1.42%), NMDC (up 1.26%), Hindalco Industries (up 1%) and National Aluminium Company (up 0.49%), edged higher.

High Grade Copper for December 2016 delivery was currently up 0.21% at $2.1115 per pound on the COMEX.

Bank stocks edged higher. Among public sector banks, Union Bank of India (up 3.84%), Bank of Baroda (up 3.15%), Canara Bank (up 2.98%), Punjab National Bank (up 2.93%), Allahabad Bank (up 2.52%), Syndicate Bank (up 1.99%), IDBI Bank (up 1.97%), Bank of India (up 1.76%), Dena Bank (up 1.51%), State Bank of India (up 1.50%), Andhra Bank (up 1.37%), United Bank of India (up 0.95%), Indian Bank (up 0.88%), Corporation Bank (up 0.86%), Bank of Maharashtra (up 0.66%) and Punjab & Sind Bank (up 0.39%), edged higher. UCO Bank (down 0.28%), Vijaya Bank (down 0.37%) and Central Bank of India (down 0.38%), edged lower.

Among private sector banks, ICICI Bank (up 4.58%), Yes Bank (up 3.23%), Federal Bank (up 2.72%), Kotak Mahindra Bank (up 1.22%), IndusInd Bank (up 0.71%) and RBL Bank (up 0.28%), edged higher. City Union Bank fell 0.73%.

Index heavyweight Bank rose 1.58% at Rs 1,257.40. The stock hit a high of Rs 1,260 and a low of Rs 1,240.15 in intraday trade.

Axis Bank rose 2.59% to Rs 532.30. The bank said it has reduced its lending rates based on marginal cost of funds based lending rate (MCLR) by 5 basis points across all tenors effective from 18 October 2016. Axis Bank said that the bank's MCLR for overnight loans will be 8.8%, the rate for one month will be 8.85% and for three months it will be 9.05%. The MCLR on 6-month loans will be 9.15% and for one-year loans the rate will be 9.2%, the bank said. MCLR on two-year loans will be 9.3% and for three-year loans the rate will be 9.35%. The announcement was made after market hours yesterday, 17 October 2016.

Separately, Axis Bank announced after market hours yesterday, 17 October 2016 that it has received request for redemption of $46 million - 7.167% Callable Hybrid Tier I Notes on 16 November 2016. The Notes were issued on 15 November 2006.

The has risen 184.92 points or 0.66% in this month so far (till 18 October 2016). The has risen 1,933.34 points or 7.40% in calendar year 2016 so far (till 18 October 2016). From a 52-week low of 22,494.61 hit on 29 February 2016, the barometer index has risen 5,556.27 points or 24.70%. From a 52-week high of 29,077.28 hit on 8 September 2016, the barometer index has fallen 1,026.40 points or 3.53%. The is off 1,973.86 points or 6.57% from a record high of 30,024.74 hit on 4 March 2015.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Sensex ends above 28,000 mark

Banking, IT and metal sector stocks and index heavyweights HDFC, Industries and led strong gains for key benchmark indices. The barometer index, the S&P Sensex, rose 520.91 points or 1.89% to settle at 28,050.88. The 50 index rose 157.50 points or 1.85% to settle at 8,677.90. The settled above the psychologically important 28,000 level after surpassing that level in late trade. The and the Nifty, both, hit their highest closing levels in more than a week. Gains in European and Asian stocks aided the upmove on the domestic bourses.

In overseas stock markets, European and Asian stocks edged higher with commodities-related stocks leading the gains after prices of major industrial metals and crude oil rose on a softer dollar. US stocks registered small losses yesterday, 17 October 2016, amid falling oil prices, as investors digested a number of corporate results, key economic data and remarks from a key Federal Reserve official. Fed Vice Chair Stanley Fischer reportedly warned of the dangers of low interest rates, suggesting they could lead to longer and deeper recessions, making the economy more vulnerable.

Back home, the rose 520.91 points or 1.89% to settle at 28,050.88, its highest closing level since 10 October 2016. The index rose 534.42 points or 1.94% at the day's high of 28,064.39. The index rose 122.79 points or 0.44% at the day's low of 27,652.76.

The 50 index rose 157.50 points or 1.85% to settle at 8,677.90, its highest closing level since 10 October 2016. The index rose 164.70 points or 1.93% at the day's high of 8,685.10. The index rose 35.50 points or 0.41% at the day's low of 8,555.90.

The broad market depicted strength. There were nearly two gainers against every loser on BSE. 1,905 shares rose and 926 shares declined. A total of 206 shares were unchanged. The Mid-Cap index rose 1.89%, matching the Sensex's gains. The Small-Cap index rose 1.30%, underperforming the Sensex.

The total turnover on amounted to Rs 3688.39 crore, lower than turnover of Rs 3884.29 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P Oil & Gas index (up 0.2%), the S&P Utilities index (up 0.66%), the S&P Telecom index (up 0.75%), the S&P Energy index (up 0.78%), the S&P Consumer Durables index (up 0.86%), the S&P Power index (up 0.96%), the S&P Consumer Discretionary Goods & Services index (up 1.22%), the S&P Auto index (up 1.29%), the S&P Basic Materials index (up 1.35%), the S&P FMCG index (up 1.49%), the S&P Realty index (up 1.51%), the S&P Healthcare index (up 1.64%), the S&P Teck index (up 1.68%), the S&P Metal index (up 1.82%) and the S&P IT index (up 1.84%), underperformed the Sensex. The S&P Industrials index rose 1.89%, matching the Sensex's rise. The S&P Capital Goods index (up 2.07%) and the S&P Bankex (up 2.37%), outperformed the Sensex.

IT stocks gained on renewed buying. Tech Mahindra (up 4.44%), HCL Technologies (up 3.12%), Hexaware Technologies (up 2.52%), Wipro (up 2.09%), Oracle Financial Services Software (up 1.77%), TCS (up 1.50%), Persistent Systems (up 0.93%) and MphasiS (up 0.38%), edged higher. MindTree fell 2.87%.

Index heavyweight and software major Infosys rose 1.58% at Rs 1,038.20 after the company said that its wholly owned product subsidiary EdgeVerve Systems, Emirates NBD, the leading group in Middle East and ICICI Bank announced the pilot launch of blockchain network for international remittances and trade finance. The announcement was made during market hours today, 18 October 2016.

Mastek rose 11.59% to Rs 148.30 after consolidated net profit rose 113.7% to Rs 7.7 crore on 3.9% decline in total income to Rs 128.40 crore in Q2 September 2016 over Q1 June 2016. The growth was driven by the ongoing operational improvement initiatives, effective expense management and decrease in tax expense, the company said in a release. The result was announced during trading hours today, 18 October 2016.

Index heavyweight and housing finance major rose 3.82% at Rs 1,351.80. The stock hit a high of Rs 1,354.05 and a low of Rs 1,308.15 in intraday trade.

Index heavyweight Industries rose 1.81% at Rs 1,079.30. The stock hit a high of Rs 1,082 and a low of Rs 1,062.80 in intraday trade.

Cigarette major and index heavyweight rose 2.22% at Rs 245.80. The stock hit a high of Rs 246.50 and a low of Rs 240.55 in intraday trade.

Metal and mining stocks edged higher as copper prices rose in global commodities markets. Tata Steel (up 3.46%), JSW Steel (up 3.41%), Steel Authority of India (up 2.64%), Hindustan Copper (up 2.59%), Hindustan Zinc (up 2.04%), Vedanta (up 1.77%), Jindal Steel & Power (up 1.52%), Bhushan Steel (up 1.42%), NMDC (up 1.26%), Hindalco Industries (up 1%) and National Aluminium Company (up 0.49%), edged higher.

High Grade Copper for December 2016 delivery was currently up 0.21% at $2.1115 per pound on the COMEX.

Bank stocks edged higher. Among public sector banks, Union Bank of India (up 3.84%), Bank of Baroda (up 3.15%), Canara Bank (up 2.98%), Punjab National Bank (up 2.93%), Allahabad Bank (up 2.52%), Syndicate Bank (up 1.99%), IDBI Bank (up 1.97%), Bank of India (up 1.76%), Dena Bank (up 1.51%), State Bank of India (up 1.50%), Andhra Bank (up 1.37%), United Bank of India (up 0.95%), Indian Bank (up 0.88%), Corporation Bank (up 0.86%), Bank of Maharashtra (up 0.66%) and Punjab & Sind Bank (up 0.39%), edged higher. UCO Bank (down 0.28%), Vijaya Bank (down 0.37%) and Central Bank of India (down 0.38%), edged lower.

Among private sector banks, ICICI Bank (up 4.58%), Yes Bank (up 3.23%), Federal Bank (up 2.72%), Kotak Mahindra Bank (up 1.22%), IndusInd Bank (up 0.71%) and RBL Bank (up 0.28%), edged higher. City Union Bank fell 0.73%.

Index heavyweight Bank rose 1.58% at Rs 1,257.40. The stock hit a high of Rs 1,260 and a low of Rs 1,240.15 in intraday trade.

Axis Bank rose 2.59% to Rs 532.30. The bank said it has reduced its lending rates based on marginal cost of funds based lending rate (MCLR) by 5 basis points across all tenors effective from 18 October 2016. Axis Bank said that the bank's MCLR for overnight loans will be 8.8%, the rate for one month will be 8.85% and for three months it will be 9.05%. The MCLR on 6-month loans will be 9.15% and for one-year loans the rate will be 9.2%, the bank said. MCLR on two-year loans will be 9.3% and for three-year loans the rate will be 9.35%. The announcement was made after market hours yesterday, 17 October 2016.

Separately, Axis Bank announced after market hours yesterday, 17 October 2016 that it has received request for redemption of $46 million - 7.167% Callable Hybrid Tier I Notes on 16 November 2016. The Notes were issued on 15 November 2006.

The has risen 184.92 points or 0.66% in this month so far (till 18 October 2016). The has risen 1,933.34 points or 7.40% in calendar year 2016 so far (till 18 October 2016). From a 52-week low of 22,494.61 hit on 29 February 2016, the barometer index has risen 5,556.27 points or 24.70%. From a 52-week high of 29,077.28 hit on 8 September 2016, the barometer index has fallen 1,026.40 points or 3.53%. The is off 1,973.86 points or 6.57% from a record high of 30,024.74 hit on 4 March 2015.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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