MARKET WRAP: Sensex ends 142 pts up, Nifty settles at 10,790; metals shine
All that happened in the markets on Thursday
 "Mumbai Police's Economic Offences Wing fresh notices to 300 NSEL brokers")
Buzzing stocks
Shares of Anil Dhirubhai Ambani Group (ADAG) companies have moved higher by 16 per cent in intra-day trade on Thursday, erasing most of their Wednesday’s losses on the BSE. The rally comes on the back of a Reliance Communications (RCom) statement where the company said that it is confident of paying entire Rs 550 crore and interest thereon with four weeks as directed by the Supreme Court (SC). Reliance Nippon Life Asset Management ended at Rs 187 apiece, up 20 per cent.
Shares of Tech Mahindra rose as much as 3.5 per cent in the intra-day trade on the BSE as the company's board approved the buyback of 2.05 crore shares worth Rs 1,956 crore via tender route at Rs 950 per share. The board fixed March 6, 2019, as the record date. The stock settled at Rs 820.40 apiece, up 1.07 per cent.
Global markets
Buoyed by the Fed's affirmation that it would be “patient” on interest rate rises, Asian shares were firm on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan were steady in early trade, hovering just off their highest since early October.
(with Reuters input)
3:35 PM
Sectoral gainers and losers of the day on NSE
3:34 PM
Gainers and losers of the day on S&P BSE Sensex
3:33 PM
Market at close
The S&P BSE Sensex ended at 35,898, up 142 points or 0.4 per cent, while the broader Nifty50 index settled at 10,790, up 54 points or 0.5 per cent.
3:19 PM
» More on Top Gainers
Top gainers on BSE500
| COMPANY | PRICE(rs) | CHG(rs) | CHG(%) | VOLUME |
| SUZLON ENERGY | 4.52 | 0.87 | 23.84 | 6627867 |
| RELIANCE NIP.LIF | 187.05 | 31.15 | 19.98 | 289377 |
| CORPORATION BANK | 29.65 | 4.15 | 16.27 | 646243 |
| S H KELKAR & CO. | 161.00 | 22.35 | 16.12 | 19844 |
| JP ASSOCIATES | 5.93 | 0.74 | 14.26 | 4702263 |
2:59 PM
Barclays income boost cheers investors, makes Brexit provision
Barclays reported a lower than forecast attributable profit of 3.5 billion pounds ($4.56 billion) for 2018, as it set aside cash to cushion against Brexit losses and its trading business weathered a difficult fourth quarter.
Barclays did show signs of progress in its under-pressure investment bank, where profit for the full year increased 15 percent to 2.6 billion pounds as its equities trading unit saw income rise 25 percent. READ MORE
2:44 PM
Karvy Stock Broking on KNR Constructions
Recommendation: BUY
CMP: Rs 203
Target Price: Rs 260
KNR Construction is trading at 11.6x to FY20E standalone EPS. Considering the order book and execution rates, we value the EPC business at 12x to its FY20E EPS to arrive at the value of Rs. 209 per share. We also value the BOT assets at 1x BV & HAM opportunity at 1x BV of the equity investment and arriving at a value of Rs. 260.
2:28 PM
Reliance Capital offers to sell stake in asset management JV to Nippon Life
Anil Ambani-led Reliance Capital (RCap) on Thursday said it has invited Nippon Life Insurance to acquire up to 42.88 per cent, which is its entire stake, in Reliance Nippon Life Asset Management Ltd (RNAM). Japan's Nippon Life Insurance Co. Ltd. already holds 42.88 per cent stake in RNAM. "Reliance Capital Ltd has invited its partner, Nippon Life Insurance Co Ltd to make an offer to acquire up to 42.88 per cent stake held by Reliance Capital in Reliance Nippon Life Asset Management Ltd," Reliance Capital said in a regulatory filing. READ MORE
2:09 PM
First-time investors should tweak their portfolio, reassess stocks
Sharook Sayeed, 26, a final-year MBA student at Christ University, opened an account with Zerodha last September. His fledgling portfolio holds six stocks. Currently, only two of them are trading above his purchase price, while the rest are all in the negative zone. Some have even hit 52-week lows. Faced with his first equity-market downturn, Sayeed is worried but says he will weather it by holding on to his portfolio for the long term. According to data from the Securities and Exchange Board of India (Sebi), 40 lakh demat accounts were opened in 2018, the highest in a decade. READ MORE
1:58 PM
MARKET CHECK
1:45 PM
NEWS ALERT | Som Distelleries' board to consider conversion of warrants into equity shares at Rs 271.55 per share on March 2
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First Published: Feb 21 2019 | 8:07 AM IST