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Markets remain flat; TCS, Cipla top Sensex gainers

The 30-share Sensex was down 2 points at 27,111 and the 50-share Nifty was up 12 points at 8,127

SI Reporter  |  Mumbai 

Benchmark indices continue to trade in a tight range with Sensex and Nifty swinging between negative and positive zone.

At 14:30 PM, the 30-share Sensex was down 2 points at 27,111 and the 50-share Nifty was up 12 points at 8,127.

The broader are outperforming the benchmark indices- BSE Midcap and Smallcap indices have gained between 0.2-1%. The market breadth in BSE remains neutral.

The provisional data released by the stock exchanges after trading hours on Thursday showed that foreign portfolio investors (FPIs) sold shares worth a net Rs 9.57 crore on that day.

The rupees is trading at 60.80 vs Thursday's close of 60.83/84. Rupee is driven by hopes of continued foreign fund buying in shares and bonds.

GLOBAL MARKETS

The British pound rose sharply after the Scottish independence vote indicated Scotland would remain in the United Kingdom, while Wall Street's overnight gains and Alibaba Group's red-hot initial public offering underpinned Asian shares.

Japanese stocks soared to a seven-year high on Friday after the yen dropped sharply after Scottish voters rejected a bid for independence and averted a break-up of the United Kingdom.

Afternoon comments by Prime Minister Shinzo Abe to carry out pension reform as soon as possible bolstered already upbeat sentiment.

The Nikkei share average ended 1.6% higher at 16,321.08, the highest closing level since 2007 and before the collapse of Lehman Brothers. It was the biggest daily percentage gain in a month, and was up 2.3% for the week. During the session, the index easily topped a December 30 high of 16,320.22.

SECTORS & STOCKS


BSE IT and Healthcare indices have surged between 1-2%. However, BSE Capital Goods index has dipped by over 1%.

The main gainers on the Sensex are TCS, Cipla, Hindalco, Dr Reddy’s Labs, Infosys, Wipro and Tata Power.

Shares of Tata Group companies are trading higher between 1-3% on the BSE after global rating agency Moody's upgraded the ratings for many group firms including Tata Consultancy Services (TCS).

The Bombay Stock Exchange (BSE) S&P BSE Sensex hit a record high today, led by Tata Group companies, after global rating agency Moody's raised multiple ratings of group firms including Tata Motors, Tata Steels and Tata Consultancy Services (TCS).

Infosys which lost sheen in the yesterday’s trade has gained 1% after the company widened collaboration with Microsoft and Hitachi Data Systems, in line with chief executive Vishal Sikka's vision to strengthen software offerings and expand global alliances.

India's third largest IT firm Wipro is trading over 1% higher and is continuing its rally of past few trading sessions after securing a contract from Saudi-based Saudi Electricity Company (SEC) for implementing and rolling out plant maintenance and project system functionality of SAP ERP application.

Cipla has gained by over 2% after it signed an agreement with American company Salix Pharmaceuticals, under which Cipla has granted Salix exclusive rights over certain patent applications in the 'Rifaximin Complexes' patents owned by Cipla.

On the losing side, HUL, L&T, Hero Moto, Axis Bank and SBI have plunged between 1-2%.

Among other shares, BL Kashyap and Sons was locked in upper circuit of 5% at Rs 18.67, extending its past nine day rally on BSE, after HDFC Mutual Fund bought more than one million shares of the company from the open market.

Aegis Logistics has surged 7% to Rs 396 on NSE, ahead of board meeting today, 19 September 2014, to consider and approve sale of a minority stake in one of company’s subsidiary.

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First Published: Fri, September 19 2014. 14:30 IST
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