Mkts end at record highs, up over 1% for the week; PSU Banks extend gains
All that happened in the markets today
 "Photo: Shutterstock")
Photo: Shutterstock
Benchmark indices ended at record highs on Friday as Public sector banks continued their rally. The indices hit fresh highs at intra-day deals too with Nifty50 climbing to 10,461 and Sensex touching 33,726 levels.
Investor sentiment has been upbeat in India with the government’s recent announcement of a recapitalisation plan for banks.
The broader NSE Nifty ended 0.3% up at 10,452 to end the week 1.2% higher while Sensex ended 0.3% higher at 33,685, to post a weekly gain of 1.6%.
Meanwhile, positive trend was seen in Asian markets as global investors gave a guarded reception to Republican plans for massive US tax cuts, while welcoming the appointment of a centrist at the helm of the Federal Reserve.
Meanwhile, positive trend was seen in Asian markets as global investors gave a guarded reception to Republican plans for massive US tax cuts, while welcoming the appointment of a centrist at the helm of the Federal Reserve.
3:49 PM
Market rundown by Mr. Anand James, Chief Market Strategist of Geojit Financial Services
"Resurgence in banks continued edging indices higher, even as new Fed chair stoked optimism that on - going FII buying in equities could continue. Market breadth was, however, relatively flat, as investors searched for more domestic cues, and could look for clues from pre - budget talks. "
3:46 PM
Top Sectoral loser: Nifty Pharma
Source: NSE
3:44 PM
Nifty Chart for the day
Source: NSE
3:42 PM
Sectoral trend
Source: NSE
3:41 PM
Nifty PSU Bank index extends gains
Source: NSE
3:40 PM
Top Sensex gainers and losers
Source: BSE
3:38 PM
Broader Markets
In broader markets, the BSE Midcap index fell 0.07% while BSE Smallcap index gained 0.5%
In broader markets, the BSE Midcap index fell 0.07% while BSE Smallcap index gained 0.5%
3:36 PM
The S&P BSE index settled at 33,685, up 112 points while the Nifty50 index ended at 10,452, up 28 points
Markets at close
Benchmark indices ended at record highs on Friday as Public sector banks continued their rally. The indices hit fresh highs at intra-day deals too with Nifty50 climbing to 10,461 and Sensex touching 33,726 levels.
Benchmark indices ended at record highs on Friday as Public sector banks continued their rally. The indices hit fresh highs at intra-day deals too with Nifty50 climbing to 10,461 and Sensex touching 33,726 levels.
The S&P BSE index settled at 33,685, up 112 points while the Nifty50 index ended at 10,452, up 28 points
3:16 PM
Reliance Nippon AMC to make stock market debut on Nov 6
Reliance Nippon Life Asset Management (RNAM), which successfully concluded its initial public offer (IPO) last week, will make its stock market debut on Monday.
The company's IPO was oversubscribed 81.54 times during October 25-27, data available with the NSE showed.
The Rs 1,540-crore offering saw healthy demand in all three investor categories. READ MORE
3:00 PM
Tata Power Q2 profit falls 44% at Rs 269 cr on lower income
Tata Power Co Ltd reported an about 44 per cent slump in quarterly profit, hurt by lower income from its power generation business, missing analysts' forecasts.
Profit came in at Rs 269 crore ($41.63 million) in the quarter ended Sept. 30, compared with a profit of Rs 476 crore a year earlier, the company said on Friday.
2:48 PM
Amtek Auto zooms 20% as Bharat Forge participates in acquisition process
Shares of Amtek Group companies – Amtek Auto, Metalyst Forgings and Castex Technologies – have locked in their respective upper limit of circuit breaker on the BSE after Bharat Forge said that it has participated in the process of acquiring Amtek Auto.
Ametk Auto was locked in upper circuit of 20% at Rs 29.70 on the BSE with only buyers seeing on the counter. Till 01:52 PM; a combined 12.63 million shares changed hands and there were pending buy orders for 4.88 million shares on the NSE and BSE. READ MORE
2:30 PM
Market Check
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 33,651.09 | +77.87 | +0.23 |
| S&P BSE SENSEX 50 | 10,854.35 | +24.03 | +0.22 |
| S&P BSE SENSEX Next 50 | 36,261.35 | -18.66 | -0.05 |
| S&P BSE 100 | 10,895.20 | +19.22 | +0.18 |
| S&P BSE Bharat 22 Index | 3,808.41 | +3.07 | +0.08 |
2:15 PM
Punjab National Bank up 8% as Q2 profit beats estimates
Punjab National Bank (PNB) moved higher by 8% to Rs 212 on the BSE in noon deals after the bank reported a better than expected net profit at Rs 561 crore in September quarter (Q2FY18). Analysts on an average expected profit of Rs 298 crore for the quarter. The state-owned bank had profit of Rs 549 crore in a year ago quarter.
The assets quality of the bank improved sequentially as well as yearly with gross NPAs as a percentage of advances stood at 12.31% and net NPAs at 8.44 per cent as of end-September 2017. The gross NPAs and net NPAs were at 13.66% and 8.67%, respectively, in Q1FY18. It was 13.63% and 9.10%, respectively, in Q2FY17. READ MORE
2:03 PM
Ujjivan Financial surges 10% post September quarter results
Ujjivan Financial Services soared 10% to Rs 377 on the BSE in intra-day trade after the company announced that its consolidated net loss declined to Rs 11.95 crore in September quarter (Q2FY18) from Rs 74.94 crore in June quarter (Q1FY18).
“The net loss during the quarter declined on account of moderate growth in revenue and consequently higher net interest income (interest earned minus interest expended) and lower credit costs in Q2FY18,” Ujjivan Financial Services said in a statement. READ MORE
1:46 PM
SAIL nears 5-year high on expectation of good Q2 results; up 60% in 1-month
Steel Authority of India (SAIL) surged 7% to Rs 85.70 in intra-day trade, extending its 36% rally of the past two weeks on the BSE, ahead of its September (Q2FY18) results next week. The stock was trading at its highest level since December 4, 2014.
In the past one month, the stock has outperformed the market by surging 60% as compared to just 7% rise in the S&P BSE Sensex. READ MORE
Topics :
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Nov 03 2017 | 3:30 PM IST
