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MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

The S&P BSE Sensex gained 269 points or 0.75 per cent to close at 36,077 while the NSE's Nifty50 index reclaimed the crucial 10,850 level to end at 10,860, up 80 points or 0.74 per cent.

SI Reporter  |  New Delhi 

Markets, Stocks, BSE, NSE, SENSEX
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Firm global cues and buying in financial and pharma counters helped domestic benchmark settle in the positive territory for the third consecutive session on Friday.

The S&P gained 269 points or 0.75 per cent to close at 36,077 while the NSE's Nifty50 index ended at 10,860, up 80 points or 0.74 per cent. Out of 50 constituents on the index, 38 ended in the green and rest 12 in the red. 

Volatility benchmark India VIX declined over 6 per cent to 15.03, indicating lower volatility in the market. 

As many as 8 hit 52-week high on including names such as Bata India and SPL Industries.  On the contrary, 48 securities hit their one-year low. 

On a weekly basis, both the headline rose around 1 per cent. 

Buzzing Stocks

Among individual stocks, Lemon Tree Hotels ended 9 per cent higher at Rs 75 apiece on after the company has formed a joint venture (JV) with an affiliate of Warburg Pincus, a leading global private equity firm, to create a co-living platform. The stock climbed as much as 12 per cent in the intra-day trade. 

Real estate developer Peninsula Land surged 12 per cent in the intraday trade after it entered into an agreement to acquire 86 per cent of equity of Rockfirst Real Estate, thereby making it a wholly-owned subsidiary of the company. The stock eventually settled at Rs 11.34 apiece on BSE, up 5 per cent .

Sectorally, media gained the most with the Media index rising 48 points or nearly 2 per cent to settle at 2,556. Pharma and financial came second on the list. 

In line with benchmarks, the broader market, too, gained around 1 per cent. The S&P MidCap index ended at 15,360, up 0.93 per cent while the S&P BSE SmallCap index rose 0.86 per cent to settle at 14,606.  


Global Markets

Asia stocks advanced on Friday after Wall Street ended volatile trade in positive territory, adding to the previous session's big gains, although lingering investor jitters helped support safe-haven currencies such as the yen.

MSCI's broadest index of Asia-Pacific outside Japan rose 0.8 per cent. It has fallen 3 per cent so far in December. The Shanghai Composite Index moved up 0.35 per cent. Australian stocks added 1 per cent and South Korea's KOSPI climbed 0.5 per cent. Japan's Nikkei bucked the trend and slipped 0.3 per cent, losing some steam after surging nearly 4 per cent on Thursday.
 
Prices

US prices rose on Friday to claw back some of the ground they lost in the previous session, but growth in US crude stockpiles and ongoing concerns about the global economy kept under pressure.

US West Texas Intermediate (WTI) crude futures, were up $1.37, or 3.07 per cent, at $45.98 per barrel, having earlier rising as high as $46.05 per barrel. They ended Thursday down 3.48 per cent, or $1.61, at $44.61 a barrel. Brent crude had yet to trade. It dropped 4.24 per cent, or $2.31, the day before to settle at $52.16 per barrel.

(with Reuters inputs)

MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

MARKET COMMENT Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas Indian indices continue to hold positive momentum tracking firm global cues. Nifty ended this week above 10,800 mark led by banking and FMCG stocks. The domestic sentiment remained optimistic with reports that the government is contemplating several incentives for farmers ahead of the 2019 Lok Sabha elections. Investor to closely track global economic outlook, movement in crude oil and currency along with Q3FY19 earning season due in January.  We believe long term investors can use volatility in the market to their advantage and maintain a stock-specific approach. We prefer Britannia and Hindustan Unilever from consumption space as macro economic indicator are showing signs of improvement and government focus on rural schemes will boost rural consumption

MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

Sectoral gainers on NSE

MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

Gainers and losers of the day on BSE Sensex

MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

Market at close   The S&P BSE Sensex ended at 36,077, up 269 points or 0.75 per cent, while the broader Nifty50 index settled at 10,860, up 80 points or 0.74 per cent.

MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

#Cabinet Committee on Economic Affairs has given approval to list 7 CPSE on the Stock Exchange through Initial Public Offering (IPO) /Further Public Offer (FPO) pic.twitter.com/Q1EQz02Ebo — Sitanshu Kar (@DG_PIB) December 28, 2018

MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

NEWS ALERT Cabinet briefing RS Prasad: 7 PSUs to be listed on stock exchanges through IPOs

MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

Gold jumps by Rs 170; silver surges Rs 600 Gold prices Friday rose by Rs 170 to Rs 32,620 per 10 gram at the bullion market in the national capital amid increased demand and firm trend overseas. In line with gold prices, silver also spurted Rs 600 to Rs 39,250 per kg on fresh buying by industrial units and coin makers.   Bullion traders said rise in demand from local jewellers and firm trend overseas helped in the rally of gold. In the international market, gold traded higher at USD 1,278.10 an ounce, while silver was up at USD 15.26 an ounce in New York. READ MORE

MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

NEWS ALERT | Peninsula Land enters into an agreement to acquire 86% of equity in Rockfirst Real Estate; stock jumps 9%

MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

Oil prices rebound but still weak due to oversupply Oil prices rebounded on Friday, clawing back some of the ground lost this week, but remained close to their lowest levels in more than a year as rising U.S. inventories and concern over global economic growth kept markets under pressure.   Brent crude oil was up $1.20, or 2.3 per cent, at $53.36 a barrel, having earlier risen more than 3 per cent. It had dropped 4.2 per cent on Thursday. US light crude was up $1.20, or 2.7 per cent, at $45.81, after rising 3.6 per cent in early trade. READ MORE

MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

Top gainers and losers on S&P BSE Sensex

MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

ICICI Prudential Life's new strategy fails to click with investors Even after two years of listing, ICICI Prudential Life Insurance (ICICI Pru Life), India’s largest private life insurer, is yet to see meaningful gains. While the year started on a high note, gains faded with the stock losing about 15 per cent so far. But the Street remains optimistic. Its leadership position, coupled with undemanding valuations, has kept analysts positive on the stock. But the insurer is set to face earnings trouble in the near term, thanks to its new strategy with respect to its key equity-linked plans or unit-linked insurance plans. Read more

First Published: Fri, December 28 2018. 08:14 IST
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MARKET WRAP: Sensex reclaims 36,000, Nifty ends at 10,860 led by financials

The S&P BSE Sensex gained 269 points or 0.75 per cent to close at 36,077 while the NSE's Nifty50 index reclaimed the crucial 10,850 level to end at 10,860, up 80 points or 0.74 per cent.

Firm global cues and buying in financial and pharma counters helped domestic benchmark settle in the positive territory for the third consecutive session on Friday.

The S&P gained 269 points or 0.75 per cent to close at 36,077 while the NSE's Nifty50 index ended at 10,860, up 80 points or 0.74 per cent. Out of 50 constituents on the index, 38 ended in the green and rest 12 in the red. 

Volatility benchmark India VIX declined over 6 per cent to 15.03, indicating lower volatility in the market. 

As many as 8 hit 52-week high on including names such as Bata India and SPL Industries.  On the contrary, 48 securities hit their one-year low. 

On a weekly basis, both the headline rose around 1 per cent. 

Buzzing Stocks

Among individual stocks, Lemon Tree Hotels ended 9 per cent higher at Rs 75 apiece on after the company has formed a joint venture (JV) with an affiliate of Warburg Pincus, a leading global private equity firm, to create a co-living platform. The stock climbed as much as 12 per cent in the intra-day trade. 

Real estate developer Peninsula Land surged 12 per cent in the intraday trade after it entered into an agreement to acquire 86 per cent of equity of Rockfirst Real Estate, thereby making it a wholly-owned subsidiary of the company. The stock eventually settled at Rs 11.34 apiece on BSE, up 5 per cent .

Sectorally, media gained the most with the Media index rising 48 points or nearly 2 per cent to settle at 2,556. Pharma and financial came second on the list. 

In line with benchmarks, the broader market, too, gained around 1 per cent. The S&P MidCap index ended at 15,360, up 0.93 per cent while the S&P BSE SmallCap index rose 0.86 per cent to settle at 14,606.  


Global Markets

Asia stocks advanced on Friday after Wall Street ended volatile trade in positive territory, adding to the previous session's big gains, although lingering investor jitters helped support safe-haven currencies such as the yen.

MSCI's broadest index of Asia-Pacific outside Japan rose 0.8 per cent. It has fallen 3 per cent so far in December. The Shanghai Composite Index moved up 0.35 per cent. Australian stocks added 1 per cent and South Korea's KOSPI climbed 0.5 per cent. Japan's Nikkei bucked the trend and slipped 0.3 per cent, losing some steam after surging nearly 4 per cent on Thursday.
 
Prices

US prices rose on Friday to claw back some of the ground they lost in the previous session, but growth in US crude stockpiles and ongoing concerns about the global economy kept under pressure.

US West Texas Intermediate (WTI) crude futures, were up $1.37, or 3.07 per cent, at $45.98 per barrel, having earlier rising as high as $46.05 per barrel. They ended Thursday down 3.48 per cent, or $1.61, at $44.61 a barrel. Brent crude had yet to trade. It dropped 4.24 per cent, or $2.31, the day before to settle at $52.16 per barrel.

(with Reuters inputs)

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