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MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

Nifty Auto index rose 4.2 per cent led by a rise in Maruti Suzuki, Tata Motors and Hero MotoCorp. The Nifty Bank index, too, ended 1.5 per cent led by IndusInd Bank and Axis Bank

SI Reporter  |  New Delhi 

The benchmark indices settled over 1.5 per cent higher on Friday led by a sharp rise in automobile stocks amid a jump in the Asian markets which rose as China and the United States expressed optimism about resolving their bruising trade war. The S&P BSE Sensex ended at 35,012, up 580 points (up 1.8 per cent), while the broader Nifty50 index settled at 10,553, up 173 points (up 1.7 per cent). The indices ended over 5 per cent higher this week, making it the biggest weekly gain since May 2016. Among the sectoral indices, Nifty Auto index rose 4.2 per ...

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MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

Sectoral gainers and losers on NSE

MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

S&P BSE Sensex: Top gainers and losers

MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

Market at Close   The S&P BSE Sensex jumped 580 points or nearly 2 per cent to settle at 35,012 while NSE's Nifty50 index reclaimed 10,550 mark to settle at 10,553, up 173 points or nearly 2 per cent. 

MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

PNB falls 13% from day's high level on disappointing Q2 results Shares of Punjab National Bank (PNB) dropped 8% to Rs 68.20, falling 13% from intra-day high level, after the state-owned bank reported higher- than-expected net loss in September quarter (Q2FY19), due to higher provisioning for bad loans. The stock touched a high of Rs 78.60 on the BSE in early morning trade, before the announcement of results. READ MORE

MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

Gold prices fall Rs 150 on weak global cues, muted demand Gold prices drifted lower by Rs 150 to Rs 32,630 per 10 grams Friday, breaking its three-day rising spell, amid weakening global trend and fading demand from the local jewellers. Silver, however, recovered by Rs 310 to Rs 39,500 per kg backed by increased offtake by coin makers.   Bullion traders said sentiment turned somewhat weak largely in tandem with a subdued trend overseas. READ MORE

MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

S&P BSE Sensex top gainers and losers

MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

Indiabulls Housing Finance Ltd spurts 3.13%, rises for third straight session   The stock is quoting at Rs 877.05, up 3.13% on the day on the NSE. Indiabulls Housing Finance Ltd is down 28.05% in last one year as compared to a 1.08% gain in NIFTY and a 3.13% gain in the Nifty Financial Services index. Indiabulls Housing Finance Ltd rose for a third straight session today. The stock is quoting at Rs 877.05, up 3.13% on the day as on the NSE. Read more

MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

No need to pay customs duty on imported gifts valued below Rs 5,000   When Neeti Korgaonkar received a parcel from her sister in Australia, the postman asked her to pay about Rs 4,000 as customs duty. Trivedi was surprised as the duty came to about 70 per cent of the value all items her sister had sent, which included clothes and soft toys for Trivedi’s two-year-old daughter. Above all, this was a gift for personal use and not a commercial transaction. Customs duty is applicable on all items that are ‘imported’ in the country. Read more

MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

Indian Oil second-quarter profit drops on higher forex, raw material costs State-run refiner Indian Oil Corp Ltd posted a 12.2 percent fall in second-quarter profit on Friday, missing estimate by a wide margin, dented by forex expenses and raw material costs.   Net profit came in at 32.47 billion rupees ($446.92 million) in the quarter ended Sept. 30, compared with 36.96 billion rupees a year earlier, IOC said. READ MORE

MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

Market check Index Current Pt. Change % Change   S&P BSE SENSEX 35,166.32 +734.35 +2.13   S&P BSE SENSEX 50 11,089.46 +225.42 +2.07   S&P BSE SENSEX Next 50 32,172.50 +745.98 +2.37   S&P BSE 100 10,887.31 +226.03 +2.12   S&P BSE Bharat 22 Index 3,490.36 +62.30 +1.82

MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

Fraud-hit Punjab National Bank logs 3rd straight quarterly loss at Rs 45 bn Punjab National Bank (PNB) reported a third straight quarterly loss on Friday, as India's second-largest state lender by assets set aside more money to account for a massive fraud.   Net loss came in at Rs 45.32 billion ($622.74 million) for the three months ended Sept. 30, compared with a profit of 5.61 billion rupees a year earlier, the bank said in a statement. READ MORE

First Published: Fri, November 02 2018. 08:07 IST
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MARKET WRAP: Sensex surges 580 pts on strong Asian cues; auto, banks rally

Nifty Auto index rose 4.2 per cent led by a rise in Maruti Suzuki, Tata Motors and Hero MotoCorp. The Nifty Bank index, too, ended 1.5 per cent led by IndusInd Bank and Axis Bank

The benchmark indices settled over 1.5 per cent higher on Friday led by a sharp rise in automobile stocks amid a jump in the Asian markets which rose as China and the United States expressed optimism about resolving their bruising trade war. The S&P BSE Sensex ended at 35,012, up 580 points (up 1.8 per cent), while the broader Nifty50 index settled at 10,553, up 173 points (up 1.7 per cent). The indices ended over 5 per cent higher this week, making it the biggest weekly gain since May 2016. Among the sectoral indices, Nifty Auto index rose 4.2 per ...

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