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MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

The Nifty Auto index settled 4 per cent higher led by a rally in shares of Mahindra & Mahindra and Maruti Suzuki India. The Nifty Bank index, too, rose 2.5 per cent led by IndusInd Bank and ICICI Bank

SI Reporter  |  New Delhi 

Photo: iStock

The benchmark indices ended over 2 per cent higher on Friday after the rose against US dollar amid firm Asian

The S&P BSE ended at 34,734, up 732 points (2.15 per cent), while the broader Nifty50 index settled at 10,472, up 238 points (2.32 per cent).

The strengthened against the US dollar on Friday, rising 53 paise to 73.58 against the greenback in intra-day trade.

Among sectoral indices, the Auto index settled 4 per cent higher led by a rally in shares of Mahindra & Mahindra and Maruti Suzuki India. The Bank index, too, rose 2.5 per cent led by IndusInd Bank and ICICI Bank.

However, the IT index slipped 1 per cent lower led by a fall in Tata Consultancy Services (TCS), which fell 3 per cent to Rs 1,920 on the NSE after the company reported a lower than expected revenue growth of 3.7 per cent in constant currency (CC) terms in September quarter on the sequential basis. The Street was estimating revenue growth of 4 per cent in CC terms for the quarter.
  
Global Markets

Asian shares staged a rebound on Friday to set course for their first gains in two weeks, with Shanghai managing a modest recovery from a rout that saw its shares crumble to near 4-year lows.

The strong gains soothed investor sentiment, which was hit after a major volatility index, seen as Wall Street's fear gauge, rose to an eight-month high.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 2.0 per cent, the biggest in more than two years. But the bounce came after the index fell 3.6 per cent on Thursday to hit a 1-1/2-year low. On the week, it is still on track for a weekly loss of 3.6 per cent. Shanghai shares bounced 0.8 per cent, recouping earlier losses of 1.8 per cent as cheap valuations drew bargain hunters.
(with Reuters inputs)

MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

Sectoral trends on NSE

MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

BSE Sensex: Top gainers & losers

MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

Market At Close   The S&P BSE Sensex settled at 34,733.58, up 732 points or 2.15 per cent while NSE's Nifty50 index gained 238 points or 2.32 per cent to end at 10,472.50.

MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

Auto index set to post sharpest single day gain in 31 months Shares of automobile companies were riding high on the bourses on Friday as Nifty Auto and the S&P BSE Auto indices, set to post their sharpest single-day rally in 31 months, amid fall in oil prices and rupee recovery from record lows.   At 02:38 PM; Nifty Auto (up 4.02%) and the S&P BSE Auto (up 4.2%) indices were up more than 4%, as compared to 2% rise in the benchmark indices. Earlier, on March 1, 2016, auto indices were up 4.3% in a single day. READ MORE

MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

Oil rebounds to $81, pares gain as IEA sees adequate supply   Oil rose to $81 a barrel on Friday, rebounding after two days of declines, though prices pared gains after another closely watched forecaster deemed supply adequate and the outlook for demand weakening. Crude was still heading for its first weekly drop in five weeks, pressured by a big rise in U.S. inventories and fading concerns that looming U.S. sanctions on Iran will cut supplies significantly. Read More

MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

Nifty Metal index up 3.44% led by gains in Jindal Steel

MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

IEA sees world oil market 'adequately supplied'   Oil markets look "adequately supplied for now" after a big increase in production over the last six months but the oil industry is coming under strain as it copes with increasing global demand, the West's energy watchdog said on Friday. The International Energy Agency said in its monthly report that the world's spare oil production capacity was already down to only 2 percent of global demand, with further reductions likely to come. Read More

MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

Multiple earnings triggers for GAIL amid risks of subsidy sharing   Amidst the overhang and risks of subsidy sharing, stocks of all public sector (PSU) oil and gas companies have seen sharp cuts. GAIL, too, fell about 12 per cent in October, before seeing some rebound over the past two days. While the Centre has not indicated any move to push PSU oil firms to share subsidies, Nilesh Ghughe at HDFC securities says that if it does, GAIL stands to be the last in the pecking order, while ONGC/OIL India would be the first to share the subsidy burden, followed by oil marketing companies. Read More

MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

Market check Index Current Pt. Change % Change   S&P BSE SENSEX 34,740.69 +739.54 +2.18   S&P BSE SENSEX 50 10,940.42 +231.14 +2.16   S&P BSE SENSEX Next 50 30,930.32 +922.60 +3.07   S&P BSE 100 10,699.44 +239.96 +2.29   S&P BSE Bharat 22 Index 3,339.79 +65.67 +2.01

MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

Power stocks rally; Tata Power, CESC, Adani Power gain up to 16% Shares of electric utility companies such as Tata Power, Reliance Infrastructure, Adani Power, CESC and JSW Energy have rallied by up to 16% on the BSE in intra-day trade on hopes of the Gujarat government’s panel may bring Rs 1.29 trillion relief to state’s three stranded power projects. Tata Power soared 16% to Rs 72.15 on the BSE in intra-day trade on the back of an over 10-fold jump in trading volumes. READ MORE

MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

Investment strategies in current market   The sharp correction in equities over the past few weeks has shaken investors' confidence in the asset class. Though the headline indices have tumbled over 10 per cent from peak levels, the fall in select individual stocks - especially in the mid-and small-cap segments has been much sharper. With the portfolios bleeding, investors are now seeking safer options to park their money. Read More

First Published: Fri, October 12 2018. 08:06 IST
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MARKET WRAP: Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%

The Nifty Auto index settled 4 per cent higher led by a rally in shares of Mahindra & Mahindra and Maruti Suzuki India. The Nifty Bank index, too, rose 2.5 per cent led by IndusInd Bank and ICICI Bank

The benchmark indices ended over 2 per cent higher on Friday after the rose against US dollar amid firm Asian

The S&P BSE ended at 34,734, up 732 points (2.15 per cent), while the broader Nifty50 index settled at 10,472, up 238 points (2.32 per cent).

The strengthened against the US dollar on Friday, rising 53 paise to 73.58 against the greenback in intra-day trade.

Among sectoral indices, the Auto index settled 4 per cent higher led by a rally in shares of Mahindra & Mahindra and Maruti Suzuki India. The Bank index, too, rose 2.5 per cent led by IndusInd Bank and ICICI Bank.

However, the IT index slipped 1 per cent lower led by a fall in Tata Consultancy Services (TCS), which fell 3 per cent to Rs 1,920 on the NSE after the company reported a lower than expected revenue growth of 3.7 per cent in constant currency (CC) terms in September quarter on the sequential basis. The Street was estimating revenue growth of 4 per cent in CC terms for the quarter.
  
Global Markets

Asian shares staged a rebound on Friday to set course for their first gains in two weeks, with Shanghai managing a modest recovery from a rout that saw its shares crumble to near 4-year lows.

The strong gains soothed investor sentiment, which was hit after a major volatility index, seen as Wall Street's fear gauge, rose to an eight-month high.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 2.0 per cent, the biggest in more than two years. But the bounce came after the index fell 3.6 per cent on Thursday to hit a 1-1/2-year low. On the week, it is still on track for a weekly loss of 3.6 per cent. Shanghai shares bounced 0.8 per cent, recouping earlier losses of 1.8 per cent as cheap valuations drew bargain hunters.


(with Reuters inputs)

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