Sensex gains 222 points, Nifty ends at 9,979 as metal stocks rally
All that happened in Friday's trade
 "Photo: Shutterstock")
Photo: Shutterstock
The benchmark indices ended higher on Friday with the Nifty50 settling above its crucial 9,950 mark, buoyed by a jump in Tata Steel on strong quarterly production numbers, while investors stayed cautious as Goods and Services Tax (GST) Council meeting went underway.
The Council is likely to give a major relief to exporters as well as small and medium enterprises (SMEs).
These segments have been affected the most by the new indirect tax regime, which has depressed the economic growth numbers in the first quarter of the current financial year because of destocking on account of uncertainties before the GST was introduced on July 1.
Overseas, Asian stocks rose on Friday and the dollar hit a seven-week peak, riding on economic optimism ahead of a US job report later in the day. European markets were also trading higher.
3:47 PM
Anand James, Chief Market Strategist, Geojit Financial Services
Expectations of more business-friendly reforms out of today's GST council meeting assisted the market to inch further closer to the 10,000 level. Positivity ahead of the festive season has also encouraged to take more risks. However, inflation numbers and upcoming earning season should keep investment optimism measured.
3:46 PM
Sensex gainers and losers at close
Source: BSE
3:44 PM
Market breadth
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,703 shares rose and 963 shares fell. A total of 111 shares were unchanged.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,703 shares rose and 963 shares fell. A total of 111 shares were unchanged.
3:42 PM
Broader markets
The BSE Midcap and the BSE Smallcap indices outperformed to gain 1% each.
3:39 PM
Sectoral trend
The Nifty Metal index was the leading sectoral gainer, followed by Nifty PSU Bank.
The Nifty Metal index was the leading sectoral gainer, followed by Nifty PSU Bank.
Source: NSE
3:36 PM
Markets at close
The S&P BSE Sensex settled at 31,814, up 222 points, while the broader Nifty50 ended at 9,979, up 91 points.
The S&P BSE Sensex settled at 31,814, up 222 points, while the broader Nifty50 ended at 9,979, up 91 points.
3:20 PM
Buzzing stock
Granules India rose over 3% to Rs 118 on BSE after the company said that it has received establishment inspection report from the US drug regulator for Vizag facility.
USFDA had inspected this facility in December 2016 and had found seven observations during the inspection. This facility currently manufactures active pharmaceutical ingredient (API) intermediates.
3:12 PM
European markets
Europe’s major benchmarks were set to end a tumultuous week on a slightly softer note, with investors’ focus turning from a separatist crisis in Catalonia to US jobs data expected later in the day.
Europe’s major benchmarks were set to end a tumultuous week on a slightly softer note, with investors’ focus turning from a separatist crisis in Catalonia to US jobs data expected later in the day.
The pan-European STOXX 600 dipped 0.1% in early trading, but remained on track for its fourth straight weekly gains. Spain's IBEX declined 0.2% after a strong rally in the previous session as nerves over Catalonian independence eased.
The main Spanish benchmark was set for a 1.7% fall on the week, having hit its lowest in more than six months on Wednesday as investors sold Spanish assets in the deepening political crisis.
3:06 PM
Netflix shares hit record high
Online streaming platform Netflix has raised the monthly price of its most popular streaming plan in the US.
The two-stream HD tier is now available for $10.99 per month for new subscribers while existing customers will be moved to the new rate over the next few months. This is $1 per month more from the previous $9.99 monthly fee.
This led to shares of Netflix hitting a new all-time high, climbing more than 4 per cent and peaking at $192.80 per share in Thursday morning trading.
3:01 PM
Markets check
At 3:00 pm, the S&P BSE Sensex was trading at 31,754, up 162 points, while the broader Nifty50 was ruling at 9,958, up 70 points.
At 3:00 pm, the S&P BSE Sensex was trading at 31,754, up 162 points, while the broader Nifty50 was ruling at 9,958, up 70 points.
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First Published: Oct 06 2017 | 3:34 PM IST