Nifty ends above 9,950, up 1% for the week; Sensex settles 161 pts higher

Catch all that happened in the market here

3:49 PM

Analyst View

 

Vinod Nair, Head of Research, Geojit Financial Services: Despite weak Q1 GDP growth of 5.7% the market continued to stay on a positive terrain due to better auto sales and encouraging manufacturing data for the month of August. On the other hand, investors are expecting knee jerk reaction from government to uplift the growth and they are largely focusing on long term benefit from GST than transitory hiccups.

3:45 PM

Realty Index gained 2.6%

Source: NSE

3:38 PM

Sectoral Trend

Source: NSE

3:37 PM

Top gainers and losers on BSE Sensex

Source: BSE

3:35 PM

Broader Markets

Broader markets outperformed tjhe benchmark indices with BSE Midcap and BSE Smallcap up 0.9% and 0.8% respectively

3:33 PM

Markets at close

Benchmark indices rose on Friday and gaining for a third straight week after much weaker-than-expected economic growth data raised hopes the central bank would cut interest rates at its next policy meeting in October.

 

The S&P BSE Sensex ended at 31,892 up 161 points while the broader Nifty50 index settled at 9,974, up 56 points. Bothe the indices were up 1% for the week.

3:23 PM

GDP to grow?

NITI Aayog's new Vice-Chairman Rajiv Kumar pegged gross domestic product (GDP) expansion at 7-7.5% in the second quarter of the current financial year, a day after the country's economic growth in the first quarter fell to its lowest at 5.7 per cent in the three years of the Modi government.  

 

Attributing subdued GDP growth in the first quarter to destocking in the pre-goods and services tax period, higher WPI deflator, and base effect, Kumar said a turnaround in corporate investments was already happening. He stressed that the first quarter GDP figures were not a trend.

3:16 PM

Buzzing Stock

 

Shares of Gravita India touched 52-week high of Rs 134.65, rising 11% intraday on the back of strong Q1 numbers.

 

The company’s Q1FY18 consolidated net profit increased 47.3% at Rs 10.9 crore against Rs 7.4 crore, in a year ago period.

3:09 PM

Strides Shasun gains

Drug firm Strides Shasun gains 2% after the pharma firm received an Establishment Inspection Report (EIR) from the US health regulator for its formulations facility at Bengaluru.

 

"The company's formulations facility (KRSG Gardens) in Bengaluru which was inspected by the USFDA in May 2017 has received the EIR, thereby confirming the closure of the inspection," Strides said in a BSE filing.

2:56 PM

Oil Check

Oil prices fell on Friday in the wake of Hurricane Harvey, which has killed more than 40 people and brought record flooding to the oil heartland of Texas, paralyzing over a quarter of the US refining industry.

 

Benchmark Brent crude for November was down 40 cents at $52.46 a barrel. The Brent contract for October, which expired on Thursday, closed up $1.52, or 2.99%, at $52.38.