Sensex rises 323 pts, Nifty closes at 10,491; Metal, Pharma stocks rally
All that happened in the markets today.
 "Markets, Stocks, BSE, NSE")
Markets, Stocks, BSE, NSE
The domestic indices ended 1% higher on Friday taking cues from the global markets.
The S&P BSE Sensex ended at 34,142, up 323 points while the broader Nifty50 index settled at 10,491, up 108 points.
Among sectoral indices, the Nifty Metal index ended nearly 3% higher on Friday led by a rise in the shares of Jindal Steel & Power, Tata Steel and National Aluminium Company. The Nifty Pharma index also ended over 2.5% higher led by suge in the stocks of Sun Pharmaceutical Industries and Divi's Laboratories.
In the global markets, Asian shares rebounded on Friday as comments from a Federal Reserve official eased worries about faster rate rises in the United States, while the dollar ticked higher as investors dipped their toes back into riskier assets.
MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.9 per cent on Friday to add on to the previous week’s 3.9 per cent gain.
Japan’s Nikkei rose 0.7 per cent.
On Wall Street, the Dow added 0.7 per cent, the S&P 500 ended a tad firmer while the Nasdaq lost 0.11 per cent.
(with Reuters inputs)
The S&P BSE Sensex ended at 34,142, up 323 points while the broader Nifty50 index settled at 10,491, up 108 points.
Among sectoral indices, the Nifty Metal index ended nearly 3% higher on Friday led by a rise in the shares of Jindal Steel & Power, Tata Steel and National Aluminium Company. The Nifty Pharma index also ended over 2.5% higher led by suge in the stocks of Sun Pharmaceutical Industries and Divi's Laboratories.
In the global markets, Asian shares rebounded on Friday as comments from a Federal Reserve official eased worries about faster rate rises in the United States, while the dollar ticked higher as investors dipped their toes back into riskier assets.
MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.9 per cent on Friday to add on to the previous week’s 3.9 per cent gain.
Japan’s Nikkei rose 0.7 per cent.
On Wall Street, the Dow added 0.7 per cent, the S&P 500 ended a tad firmer while the Nasdaq lost 0.11 per cent.
(with Reuters inputs)
3:52 PM
Nifty Pharma index ends 2.6% higher
3:49 PM
Nifty Metal index ends 3.2% higher
3:40 PM
Sectoral Trends
3:38 PM
BSE Sensex gainers and losers
3:33 PM
Market at close
The S&P BSE Sensex ended at 34,142, up 323 points while the broader Nifty50 index settled at 10,491, up 108 points.
3:14 PM
Sun Pharma turns volatile after three observations for Halol facility
Sun Pharmaceutical Industries has turned volatile, trading 3.5% higher at Rs 561 on the BSE at 02:34 pm, after the company said the US Food and Drug Administration (USFDA) issued Form 483, with three observations, for its Halol facility in Gujarat. READ MORE
Sun Pharmaceutical Industries has turned volatile, trading 3.5% higher at Rs 561 on the BSE at 02:34 pm, after the company said the US Food and Drug Administration (USFDA) issued Form 483, with three observations, for its Halol facility in Gujarat. READ MORE
2:57 PM
Reliance Securities on Tech Mahindra
Tech Mahindra’s Enterprise Business is expected to be the major revenue growth driver over the next few years, led by BFSI and Retail, apart from Digital initiatives; this business clocked healthy 4.2% QoQ revenue growth in 3QFY18. The company appears on track to perform well on margins in the near-term, with a 173bps QoQ expansion seen in 3QFY18, and management alluding to possibility of further expansion in the near-term. We have a BUY rating on the stock with a target price of Rs750
2:55 PM
Arihant Capital on Ajanta Pharma
We believe that AJP’s long-term fundamentals continue to remain healthy driven by strong traction in the US business (post US FDA clearance to its Dahej unit) and above industry growth in domestic business. Sales, EBITDA and PAT witnessed 24%, 37% and 44% CAGR, respectively through FY12-17 owing to strong growth in domestic formulation business (22% CAGR) and healthy growth in exports (21% CAGR). We have HOLD rating on the stock with a Target Price of Rs1500, valuing the stock at 25x FY19E EPS of Rs60.
2:53 PM
MARKET COMMENT: Angel Broking
In the series gone by, the volatility index surged to 14-month high due to sudden sell-off ; courtesy to uncertainty in US markets. Stronger hands too tuned bearish as they sold equities worth Rs. 14360 crores. They also formed massive shorts in index futures and exited decent amount of their longs in the same segment. Now, the index futures ‘Long Short Ratio’ has declined from 80% to 49% series on series; which certainly does not bode well for the Bulls. Considering the above data points, we would advise traders avoiding any kind of bottom fishing as we may see further pain going ahead
2:52 PM
Metal stocks rally. Nifty Metal index up over 3%
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First Published: Feb 23 2018 | 3:30 PM IST