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MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

Among sectoral indices, the Nifty Bank index rose 1.5 per cent led by a rise in ICICI Bank and HDFC Bank. The Nifty Auto index, too, rose 0.9 per cent led by Bajaj Auto and Maruti Suzuki.

SI Reporter  |  New Delhi 

Markets, Stocks, BSE, NSE, SENSEX
Photo: Shutterstock.com

Snapping their three-day losing streak, the benchmark indices settled around 1 per cent higher on Friday ahead of the outcome of state exit polls due later in the day.

That apart, market will also closely watch the outcome of OPEC-Russia meet, which is expected to come later in the day.

The S&P BSE climbed 361 points or 1.02 per cent to settle at 35,673 while NSE's Nifty50 index added 93 points or 0.87 per cent to end at 10,694.

Among sectoral indices, the Bank index rose 1.5 per cent led by a rise in ICICI Bank and HDFC Bank. The Auto index, too, rose 0.9 per cent led by Bajaj Auto and Maruti Suzuki.

In the broader markets, the S&P BSE MidCap index rose 0.2 per cent to end at 14,717, while the S&P BSE SmallCap index slipped 0.3 per cent to 14,105.

On the political front, market participants are awaiting exit poll results of five state elections due after market hours today. The result of the assembly elections will likely set the tone for the general elections next year.

The traded on a firm note during the day rising to 70.45 against the US dollar amid fall in oil prices ahead of the crucial outcome. The domestic unit on Thursday closed at 70.90.

Stocks that made news

Among key stocks, the shares of HCL Technologies fell 5 per cent to Rs 962 on BSE after the company said it will acquire select IBM software products for $1.8 billion (approximately Rs 127 billion) in an all-cash deal.

Shares of Power Finance Corporation (PFC) fell as much as 4.76 per cent on the BSE in intra-day session after the Cabinet Committee on Economic Affairs (CCEA) Thursday gave an in-principle approval to the strategic sale of the Centre’s 52.63 per cent holding in REC to PFC, along with transfer of management control. However, the stock pared losses later in the day to end flat at Rs 89.80, down just 0.5 per cent.

Oil Prices

Oil prices fell on Friday as OPEC discussed a potential exemption from cutting output for Iran and as the producer club sought to get heavyweight supplier Russia on board.

International Brent oil futures fell below $60 per barrel, trading at $59.53 per barrel, down 53 cents, or 0.9 per cent from their last close. US West Texas Intermediate (WTI) futures were at $51.05 per barrel, down 44 cents, or 0.9 per cent.

Global Markets

Asian shares fought to sustain the slimmest of recoveries on Friday amid speculation the Federal Reserve might be "one-and-done" with US rate hikes, while oil fell anew as producers bickered over the details of an output cut.

MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.4 per cent, though that followed a 1.8 per cent drubbing on Thursday. Japan's Nikkei added 0.8 per cent. Chinese shares, which were up earlier in the day, slipped into negative territory with the blue chips off 0.1 per cent.

(with wire inputs)

MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

Top sectoral gainers and losers on NSE

MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

S&P BSE Sensex: Top gainers and losers

MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

Market at close   The S&P BSE Sensex climbed 361 points or 1 per cent to settle at 35,673 while NSE's Nifty50 index added 93 points or 0.87 per cent to end at 10,694.

MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

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MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

Gold futures up Rs 15 on firm global leads Gold prices rose by Rs 15 to Rs 31,104 per 10 gram in futures trade Friday as speculators raised their bets, taking positive cues from the global markets. At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 15, or 0.05 per cent, to Rs 31,104 per 10 gram in a business turnover of 13,435 lots. READ MORE

MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

Lyft IPO to define the fate of internet taxi companies, investors' money Lyft, Uber’s fiercest rival on home turf, has filed for an initial public offering of shares with the US Securities and Exchange Commission, becoming the first app-based taxi, and beating Uber, to do so.   The said IPO, which may open the first quarter of 2019, has far reaching consequences for the entire sector. No one is sure of the future of Internet-based taxi services which have guzzled billions and billions of dollars but haven’t delivered profits. READ MORE  

MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

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MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

No agreement on Opec oil output deal yet over exemptions for Iran: Report   Iran appears to be the main obstacle for an Opec oil output deal on Friday as the group's leader Saudi Arabia has yet to agree to exemptions for sanctions-hit Tehran, two Opec sources said. The Organization of the Petroleum Exporting Countries resumes discussions on Friday in Vienna before heading into a meeting with non-Opec oil producers led by Russia. Read more  

MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

Around 127 scrips hit 52-week lows on NSE

MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

NEWS ALERT Iran, Venezuela, Libya likely to get exemptions from OPEC output cut, reports Reuters

MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

Navkar Corporation hits record low; stock tanks 26% in two days   Shares of Navkar Corporation have hit an all-time low of Rs 41.35 per share, dropping 17% on Friday, and falling 26% in past two trading sessions on BSE on concerns of a weak outlook. The stock of logistics firm was quoting at its lowest level since listing on April 6, 2010. Since November 2018, Navkar Corporation slipped 40% after 87% year-on-year (YoY) declined in its standalone net profit at Rs 33 million in September quarter, due to higher operational expenses. The company had a profit of Rs 258 million in the year-ago quarter. It posted a profit of Rs 301 million in the previous quarter. Read more  

First Published: Fri, December 07 2018. 08:11 IST
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MARKET WRAP: Sensex ends 361 pts higher ahead of exit polls outcome

Among sectoral indices, the Nifty Bank index rose 1.5 per cent led by a rise in ICICI Bank and HDFC Bank. The Nifty Auto index, too, rose 0.9 per cent led by Bajaj Auto and Maruti Suzuki.

Snapping their three-day losing streak, the benchmark indices settled around 1 per cent higher on Friday ahead of the outcome of state exit polls due later in the day.

That apart, market will also closely watch the outcome of OPEC-Russia meet, which is expected to come later in the day.

The S&P BSE climbed 361 points or 1.02 per cent to settle at 35,673 while NSE's Nifty50 index added 93 points or 0.87 per cent to end at 10,694.

Among sectoral indices, the Bank index rose 1.5 per cent led by a rise in ICICI Bank and HDFC Bank. The Auto index, too, rose 0.9 per cent led by Bajaj Auto and Maruti Suzuki.

In the broader markets, the S&P BSE MidCap index rose 0.2 per cent to end at 14,717, while the S&P BSE SmallCap index slipped 0.3 per cent to 14,105.

On the political front, market participants are awaiting exit poll results of five state elections due after market hours today. The result of the assembly elections will likely set the tone for the general elections next year.

The traded on a firm note during the day rising to 70.45 against the US dollar amid fall in oil prices ahead of the crucial outcome. The domestic unit on Thursday closed at 70.90.

Stocks that made news

Among key stocks, the shares of HCL Technologies fell 5 per cent to Rs 962 on BSE after the company said it will acquire select IBM software products for $1.8 billion (approximately Rs 127 billion) in an all-cash deal.

Shares of Power Finance Corporation (PFC) fell as much as 4.76 per cent on the BSE in intra-day session after the Cabinet Committee on Economic Affairs (CCEA) Thursday gave an in-principle approval to the strategic sale of the Centre’s 52.63 per cent holding in REC to PFC, along with transfer of management control. However, the stock pared losses later in the day to end flat at Rs 89.80, down just 0.5 per cent.

Oil Prices

Oil prices fell on Friday as OPEC discussed a potential exemption from cutting output for Iran and as the producer club sought to get heavyweight supplier Russia on board.

International Brent oil futures fell below $60 per barrel, trading at $59.53 per barrel, down 53 cents, or 0.9 per cent from their last close. US West Texas Intermediate (WTI) futures were at $51.05 per barrel, down 44 cents, or 0.9 per cent.

Global Markets

Asian shares fought to sustain the slimmest of recoveries on Friday amid speculation the Federal Reserve might be "one-and-done" with US rate hikes, while oil fell anew as producers bickered over the details of an output cut.

MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.4 per cent, though that followed a 1.8 per cent drubbing on Thursday. Japan's Nikkei added 0.8 per cent. Chinese shares, which were up earlier in the day, slipped into negative territory with the blue chips off 0.1 per cent.

(with wire inputs)

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