MARKET WRAP: Sensex gains 197 pts; RIL pips TCS to become most valued firm
The Nifty PSU Bank index settled 2 per cent higher led by Oriental Bank of Commerce and Bank of India
 "SMEs, banks, foreign exchange, markets, forex, small and medium price industries,")
SMEs at large do not understand forex and the concept of hedging, which banks often exploit. (Photo: iStock)
The benchmark indices ended over 0.5 per cent higher led by a rise in the financial stocks and Reliance Industries (RIL).
The S&P BSE Sensex ended at 35,457, up 197 points (0.56 per cent), while the broader Nifty50 index settled at 10,682, up 66 points (0.62 per cent).
Among sectoral indices, the Nifty PSU Bank index settled 2 per cent higher led by Oriental Bank of Commerce and Bank of India.
The S&P BSE Sensex ended at 35,457, up 197 points (0.56 per cent), while the broader Nifty50 index settled at 10,682, up 66 points (0.62 per cent).
Among sectoral indices, the Nifty PSU Bank index settled 2 per cent higher led by Oriental Bank of Commerce and Bank of India.
In the broader markets, the S&P BSE MidCap index ended flat at 14,998, while the S&P BSE SmallCap slipped 0.4 per cent to end at 14,486.
RIL pips TCS to become most-valued firm
Shares of RIL on Friday rose 2.7 per cent to Rs 1,127 on the BSE helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisation.
On the BSE, RIL's market capitalisation was at Rs 7,14,668.54 crore, while India's largest IT firm by revenue TCS slipped to the second spot with a valuation of Rs 7,06,292.61 crore.
RUPEE
The rupee traded on a firm note on Friday rising to 71.71 per US dollar in intra-day trade, up from its previous close of 71.98 against the greenback.
GLOBAL MARKETS
Asian share markets turned mixed on Friday as hopes for a thaw in the Sino-US trade standoff were tempered by disappointing results from US chipmaker Nvidia Corp which slugged the tech sector.
Losses in semi-conductor shares dragged Japan’s Nikkei down 0.1 per cent, while Nasdaq futures fell 0.5 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan were still up 0.3 per cent, helped by gains in China.
Asian share markets turned mixed on Friday as hopes for a thaw in the Sino-US trade standoff were tempered by disappointing results from US chipmaker Nvidia Corp which slugged the tech sector.
Losses in semi-conductor shares dragged Japan’s Nikkei down 0.1 per cent, while Nasdaq futures fell 0.5 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan were still up 0.3 per cent, helped by gains in China.
OIL PRICES
Oil prices regained a little composure after their recent drubbing, helped by a decline in US fuel stockpiles and the possibility of a cut in OPEC output.
US crude was trading up 40 cents at $56.86, while Brent crude rose 52 cents to $67.14 a barrel.
(with Reuters input)
3:41 PM
Top sectoral gainers and losers on NSE
3:41 PM
S&P BSE Sensex: Top gainers & losers
3:35 PM
Market at close
The S&P BSE Sensex gained 197 points or 0.56 per cent to end at 35,457 while NSE's Nifty50 index closed above the crucial 10,650 level at 10,682, up 66 points or 0.62 per cent.
The S&P BSE Sensex gained 197 points or 0.56 per cent to end at 35,457 while NSE's Nifty50 index closed above the crucial 10,650 level at 10,682, up 66 points or 0.62 per cent.
3:28 PM
Shares of Rallis India, Deepak Fertilisers & Chemicals, Dixon Technologies (India), Hexaware Technologies, Take Solutions and BASF were among 22 stocks from the S&P BSE Allcap index hitting their respective 52-week lows on Friday in intra-day trade. READ MORE
Deepak Fertilisers, Hexaware, Dixon Technologies hit 52-week lows
Shares of Rallis India, Deepak Fertilisers & Chemicals, Dixon Technologies (India), Hexaware Technologies, Take Solutions and BASF were among 22 stocks from the S&P BSE Allcap index hitting their respective 52-week lows on Friday in intra-day trade. READ MORE
3:12 PM
Gold prices rise by Rs 54 to Rs 30,875 per 10 g on positive global trends
Gold prices rose by Rs 54 to Rs 30,875 per 10 grams in futures trade Friday as speculators raised their bets, taking positive cues from global market. At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 54, or 0.18 per cent, to Rs 30,875 per 10 grams in a business turnover of 198 lots. READ MORE
2:54 PM
EARNINGS IMPACT: SREI Infra up over 10%
2:39 PM
PSU Banks gain led by Oriental Bank of Commerce
2:31 PM
9 stocks that touched 52-week high in trade so far
2:15 PM
RBI board to consider surplus fund transfer, ease norms for weak bonds
The board of India’s central bank will meet on Monday to consider easing rules governing transfer of surplus funds to the government as well as liberalizing norms for weak banks to boost lending in the economy, people with knowledge of the matter said. The Reserve Bank of India will also review rules on capital and risk weight for Indian banks which are considered more stringent than the Basel guidelines. Read more
1:59 PM
Market check
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 35,423.55 | +163.01 | +0.46 |
| S&P BSE SENSEX 50 | 11,145.95 | +54.16 | +0.49 |
| S&P BSE SENSEX Next 50 | 32,095.81 | -47.43 | -0.15 |
| S&P BSE 100 | 10,930.47 | +42.72 | +0.39 |
| S&P BSE Bharat 22 Index | 3,460.92 | -10.20 | -0.29 |
1:57 PM
S&P BSE Oil & Gas index down due to rise in crude oil prices
1:50 PM
India's top hedge fund turns to state-run banks as bad loans wane
India’s top hedge fund is exploring opportunities in state-run banks, a sector shunned by most investors till now, as valuations turn attractive and the backlog of bad loans that have riddled lenders start to dwindle. State-run banks will also benefit if the economy continues to grow at about 7 per cent, Andrew Holland, chief executive of Avendus Capital Public Markets Alternate Strategies LLP, said at the Reuters Global Investment 2019 Outlook Summit. Read more
1:39 PM
S&P BSE Telecom index up over 4%, Vodafone Idea rallies 14%
1:32 PM
Shares of ICICI Bank, Larsen & Toubro (L&T), State Bank of India (SBI) and Axis Bank were among the S&P BSE Sensex index stocks, rising over 15% during benchmark index's over 2,000-point rally in three weeks. READ MORE
ICICI Bank, L&T, SBI, Axis Bank gain over 15% in Sensex's 2000-point rally
Shares of ICICI Bank, Larsen & Toubro (L&T), State Bank of India (SBI) and Axis Bank were among the S&P BSE Sensex index stocks, rising over 15% during benchmark index's over 2,000-point rally in three weeks. READ MORE
1:17 PM
Market regulator Securities and Exchange Board of India has asked all listed companies to disclose their commodity risk and hedging in their annual reports. The move is expected to improve risk management by companies and make their positions transparent as far as outstanding risks are concerned. It will also help all commodity derivatives to improve depth and width apart from generating liquidity. READ MORE
Sebi asks listed firms to reveal commodity risks, hedging in annual report
Market regulator Securities and Exchange Board of India has asked all listed companies to disclose their commodity risk and hedging in their annual reports. The move is expected to improve risk management by companies and make their positions transparent as far as outstanding risks are concerned. It will also help all commodity derivatives to improve depth and width apart from generating liquidity. READ MORE
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First Published: Nov 16 2018 | 8:07 AM IST
