Overseas, Asian stocks rose as China refrained from detailing retaliation plans against threatened US tariff increases. US stocks rallied yesterday, 12 July 2018 as trade tensions appeared to ease after China held off from immediately retaliating against the latest US salvo.
Back home,the key barometers registered strong gains yesterday, 12 July 2018 in a steady session of trade led by index heavyweights Reliance Industries, HDFC and HDFC Bank. The barometer index, the S&P BSE Sensex, gained 282.48 points or 0.78% to settle at 36,548.41. The Nifty 50 index gained 74.90 points or 0.68% to settle at 11,023.20.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 742.63 crore yesterday, 12 July 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 366.40 crore yesterday, 12 July 2018, as per provisional data.
Among corporate news, Infosys announces its Q1 June 2018 result today, 13 July 2018.
HCL Technologies said its board approved buyback of up to 3.64 crore shares (2.61% stake) worth Rs 4000 crore at Rs 1,100 each. The announcement was made after market hours yesterday, 12 July 2018.
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