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MARKET WRAP: Sensex rises 386 pts as rupee recovers; Tata Steel, RIL up 3%

Among sectoral indices, the Nifty Metal index settled 2.8% higher led by a surge in the shares of Jindal Steel & Power, NMDC and Hindalco Industries.

SI Reporter  |  New Delhi 

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Nifty Metal index ended 2.8% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) JINDAL STEEL 223.05 209.90 13.15 6.26 NMDC 108.10 103.35 4.75 4.60 HINDALCO INDS. 230.50 221.05 9.45 4.28 NATL. ALUMINIUM 64.70 62.05 2.65 4.27 WELSPUN CORP 118.40 113.80 4.60 4.04 Nifty sectoral performers of the day BSE Sensex: Tata Steel, RIL among top gainers of the day Market at close   The S&P BSE Sensex ended at 35,423, up 386 points while the broader Nifty50 index settled at 10,714, up 125 points. IDBI Bank gains 12% ahead of Irdai meeting IDBI Bank has rallied 12% to Rs 55.85 on the BSE on the back of heavy volumes ahead of the Insurance Regulatory and Development Authority of India (Irdai) meeting today to consider Life Insurance Corporation’s (LIC’s) proposal to pick up a substantial stake in the bank. READ MORE India's spice export grows by record 8% to 1 million tonnes in 2017-18 India exported a record 10,28,060 tonnes of spices and spice products in 2017-18 as against 9,47,970 tonnes in 2016-17, an increase of almost 8 per cent. In dollar terms, exports of spices were pegged at $2,781.46 million, notching an increase of five per cent as compared to 2016-17. READ MORE

The benchmark settled over 1% higher on Friday after the recovered from its all-time low and Asian peers staged a pullback.

The S&P ended at 35,423, up 386 points while the broader Nifty50 index settled at 10,714, up 125 points.

Among sectoral indices, the Metal index settled 2.8% higher led by a surge in the of Jindal Steel & Power, NMDC and Hindalco Industries. The PSU Bank index also rose 1.35% led by IDBI Bank, Oriental Bank of Commerce and Syndicate Bank.

On the BSE, the S&P Midcap index rose 1.8% higher on Friday and the S&P Smallcap index ended 1.9% up.

Among individual stocks, Tata Steel was the biggest gainer on S&P BSE Sensex, gaining 3.6% to settle at Rs 567.85. The market heavyweight Reliance Industries also rose 3% to end at Rs 972.95 on Friday.

RUPEE

The rupee, which breached the 69 per dollar mark for the first time on Thursday, recovered tracking a rebound in Asian and currencies.

The Indian currency had on Thursday breached the 69-mark but covered lost ground to finally close at an all-time low of 68.79 with a fall of 18 paise against the US dollar due to multiple headwinds like weak global cues and concerns related to inflation and fiscal slippage.

GLOBAL MARKETS

Asian share rallied from nine-month lows on Friday as Chinese rebounded from a sell-off, but the market outlook remains gloomy a week before initial US and Chinese tariffs are set to take effect.

MSCI's broadest index of Asia-Pacific shares outside Japan was 1.4 per cent higher, Japan's Nikkei stock index was up 0.2 per cent, and South Korea's KOSPI rose 0.5 per cent. China's blue-chip CSI300 index gained 2.3 per cent, and the Shanghai Composite index was 2 per cent higher. Hong Kong's Hang Seng index rose 1.5 per cent.

PRICES

prices dipped on Friday amid escalating trade friction between the United States and other major economies, although crude remain tight due to supply disruptions and generally high demand.

US West Texas Intermediate (WTI) crude futures were at $73.19 a barrel, down 26 cents (0.4 percent) from their last settlement. WTI on Thursday hit its highest since November 2014 at $74.03 per barrel. Brent crude futures were at $77.74 per barrel, down 11 cents (0.1 per cent).

(with inputs from Reuters)

First Published: Fri, June 29 2018. 08:15 IST
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MARKET WRAP: Sensex rises 386 pts as rupee recovers; Tata Steel, RIL up 3%

Among sectoral indices, the Nifty Metal index settled 2.8% higher led by a surge in the shares of Jindal Steel & Power, NMDC and Hindalco Industries.

The benchmark settled over 1% higher on Friday after the recovered from its all-time low and Asian peers staged a pullback.

The S&P ended at 35,423, up 386 points while the broader Nifty50 index settled at 10,714, up 125 points.

Among sectoral indices, the Metal index settled 2.8% higher led by a surge in the of Jindal Steel & Power, NMDC and Hindalco Industries. The PSU Bank index also rose 1.35% led by IDBI Bank, Oriental Bank of Commerce and Syndicate Bank.

On the BSE, the S&P Midcap index rose 1.8% higher on Friday and the S&P Smallcap index ended 1.9% up.

Among individual stocks, Tata Steel was the biggest gainer on S&P BSE Sensex, gaining 3.6% to settle at Rs 567.85. The market heavyweight Reliance Industries also rose 3% to end at Rs 972.95 on Friday.

RUPEE

The rupee, which breached the 69 per dollar mark for the first time on Thursday, recovered tracking a rebound in Asian and currencies.

The Indian currency had on Thursday breached the 69-mark but covered lost ground to finally close at an all-time low of 68.79 with a fall of 18 paise against the US dollar due to multiple headwinds like weak global cues and concerns related to inflation and fiscal slippage.

GLOBAL MARKETS

Asian share rallied from nine-month lows on Friday as Chinese rebounded from a sell-off, but the market outlook remains gloomy a week before initial US and Chinese tariffs are set to take effect.

MSCI's broadest index of Asia-Pacific shares outside Japan was 1.4 per cent higher, Japan's Nikkei stock index was up 0.2 per cent, and South Korea's KOSPI rose 0.5 per cent. China's blue-chip CSI300 index gained 2.3 per cent, and the Shanghai Composite index was 2 per cent higher. Hong Kong's Hang Seng index rose 1.5 per cent.

PRICES

prices dipped on Friday amid escalating trade friction between the United States and other major economies, although crude remain tight due to supply disruptions and generally high demand.

US West Texas Intermediate (WTI) crude futures were at $73.19 a barrel, down 26 cents (0.4 percent) from their last settlement. WTI on Thursday hit its highest since November 2014 at $74.03 per barrel. Brent crude futures were at $77.74 per barrel, down 11 cents (0.1 per cent).

(with inputs from Reuters)

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