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.
 "Stock market")
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 Sensex 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 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.
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 rupee 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 OPEC meet 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.
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 Sensex 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 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.
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 rupee 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 OPEC meet 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 crude 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) crude 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)
3:37 PM
Top sectoral gainers and losers on NSE
3:37 PM
S&P BSE Sensex: Top gainers and losers
3:34 PM
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.
3:17 PM
NEWS ALERT Government appoints Krishnamurthy Subramanian as Chief Economic Advisor for 3 years
3:15 PM
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
2:59 PM
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
2:42 PM
NEWS ALERT ICRA revises Jet Airways' long-term loans & NCD rating to 'C' from 'B' with negative outlook
2:30 PM
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
2:13 PM
Around 127 scrips hit 52-week lows on NSE
2:02 PM
NEWS ALERT Iran, Venezuela, Libya likely to get exemptions from OPEC output cut, reports Reuters
2:00 PM
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
1:46 PM
US becomes net oil exporter for 1st time in 75 yrs; Opec's power diminishes
America turned into a net oil exporter last week, breaking almost 75 years of continued dependence on foreign oil and marking a pivotal -- even if likely brief -- moment toward what US President Donald Trump has branded as "energy independence".
The shift to net exports is the dramatic result of an unprecedented boom in American oil production, with thousands of wells pumping from the Permian region of Texas and New Mexico to the Bakken in North Dakota to the Marcellus in Pennsylvania. READ MORE
1:44 PM
NEWS ALERT AMFI says November equity inflows (including ELSS) at Rs 8,414 cr Vs Rs 12,622 cr
1:33 PM
Bond yields soften, volumes jump after RBI signals more debt purchases
Bond yields fell to an 8-month low and volumes surged to the highest in more than a year, reflecting a revival of bullish spirits in a market emerging from a year-long sell-off, after the central bank signaled it may keep buying debt for four more months. Turnover surged to Rs 883 billion ($12.4 billion) on Wednesday, the highest since June 2017, as the Reserve Bank of India added to the cheer by cutting its inflation projection at its policy review. Read more
1:24 PM
NEWS ALERT Bank of Maharashtra increases lending rate by 5-20bps
Topics :
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Dec 07 2018 | 8:11 AM IST
