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MARKET WRAP: Sensex gains 336 pts; Nifty above 11,750; financials advance

All that happened in the markets today

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

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A late surge in the benchmark indices, lifted by gains in financials and metals, took nearly 300 points, up almost 1 per cent, higher and beyond the 11,750-mark after a rangebound morning trade.

The was up 336.47 points, or 0.87 per cent, at 39,067, with Tata Steel, ICICI Bank, Axis Bank, TCS and State Bank of India among the top gainers. 12 of the 30 constitutents ended in the red while the rest 18 finished the day in the green. About 1,184 shares advanced, 1,509 shares declined, and 205 shares remained unchanged.

Nifty50 too registered gain in the late hours to end at 11,755, up 113 points, or 0.9 per cent. About 609 shares advanced, 931 declined, and 119 remained unchanged.

On sectoral basis, only Auto, Media, and Nifty Realty indices ended in red. The biggets gainers were Nifty Metal, Nifty Bank, and Nifty Private Bank indices that rose 1.86 per cent, 1.53 per cent, and 1.46 per cent, respectively.

Among broader markets, S&P BSE MidCap index slipped 66 points, or 0.44 per cent, to end at 15,064 while S&P BSE SmallCap index also closed in the red, down 25 points, or 0.17 per cent, at 14,813.38.

BUZZING STOCKS

Maruti Suzuki India shares slipped 1 per cent to Rs 6,832.15 on the BSE after the company reported a weak set of numbers for the March quarter (Q4FY19). READ MORE

GHCL rose 7.25 per cnt to Rs 259 on the back of heavy volumes after the company reported a healthy 44 per cent year-on-year (YoY) growth in net profit at Rs 119 crore in the March quarter (Q4FY19). READ MORE

Shares of rallied almost 7 per cent to Rs 545 on the BSE after the company reported a better-than-expected consolidated net profit of Rs 2,295 crore in the March quarter (Q4FY19). READ MORE

GLOBAL MARKETS

Asian shares were headed for their biggest weekly loss in more than a month on Friday, while the dollar held around two-year highs on speculation that U.S. data later in the day will show its economy is outperforming the rest of the developed world.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 per cent for its third straight day of losses, with most stock around the region either down or flat. For the week, the index fell 1.3 per cent.

dipped on Friday on expectations that OPEC will raise output to counter shrinking exports from Iran after sanctions imposed by the United States, where crude stocks have swelled. Brent crude futures were at $74.24 per barrel, down 11 cents. US West Texas Intermediate (WTI) crude futures were at $64.96 per barrel, down 25 cents.

(With inputs from Reuters)

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