Key barometers ended with decent gains, mirroring positive global cues. The barometer index, the S&P BSE Sensex, rose 165.94 points or 0.42% to 39,950.46, as per the provisional closing data. The Nifty 50 index rose 39.95 points or 0.34% to 11,962.65, as per the provisional closing data. The Nifty retracted after touching 12,000 mark in mid-afternoon trade.
The market breadth was inclined towards the sellers. On BSE, 1157 shares advanced and 1394 shares declined. A total of 159 shares were unchanged.
Drug major Sun Pharmaceutical Industries fell 2.82%. A foreign brokerage firm reportedly downgraded its recommendation on the stock to sell from neutral. The brokerage reportedly cut its price target to Rs 355 from Rs 437 earlier.
Yes Bank rose 2.50% while Fortis Healthcare rose 3.86%. Yes Bank announced yesterday that it sold 1.51 crore equity shares, or 2% equity, of Fortis Healthcare (FHL) as at 31 March 2019, in various tranches last being on 7 June 2019. The transaction has resulted into a change in holding of Yes Bank by more than 2% of the total shareholding of FHL, from the last disclosure made by Yes Bank on 18 December 2018.
According to reports, a Writ Petition was filed in Supreme Court against Sameer Gehlaut, chairman of Indiabulls group, allegedly siphoning off Rs 98,000 crore from Indiabulls Housing Finance. IHFL clarified after market hours on Monday that the Writ Petition was filed on Monday and is not heard by the court. Further, the total loans on the books of Indiabulls Housing Finance are approximately Rs 90000 crore. The company also stated that allegation of siphoning off of Rs 98000 crore is bizarre. The company added that blackmailers had been trying to extort money from the company and threatened them to write complaints to various government departments alleging siphoning off of Rs 55,000 crore if extortion money of Rs 10 crore was not paid to them.
Bharat Heavy Electricals (BHEL) rose 2.35% on the BSE after the company announced that it had received an order from the Nuclear Power Corporation of India Limited (NPCIL) for erection of Kudankulam Units 3&4.
Zensar Technologies rose 2.88% after the company announced global partnership with NetApp and Cisco to deliver private cloud services. The announcement was made after market hours yesterday, 10 June 2019.
Share price of Bharat Financial Inclusion rose 2.82%. The company announced that the National Company Law Tribunal (NCLT), Mumbai on 10 June 2019 sanctioned the Composite Scheme of Arrangement among Bharat Hnandal Inclusion, Induslnd Bank, Induslnd Financial Inclusion and their respective Shareholders and Creditors. The scheme will come into effect upon filing certified copy of the order with the jurisdictional Registrar of Companies and the certified copy of the order is awaited.
Eveready Industries India fell 1.43% after the company announced that a rating agency has downgraded the company's long term credit rating. The announcement was made after market hours yesterday, 10 June 2019.
Overseas, European shares were trading higher, while Asian shares ended higher. Sentiment in global stock markets was upbeat after the US suspended its proposed tariffs on Mexican imports.
US President Donald Trump is set to meet with Chinese President Xi Jinping at the G-20 summit, which is scheduled for June 28-29 in Osaka, Japan. Trump has reportedly threatened that immediate tariffs would be imposed on a further $300 billion of Chinese goods if President Xi does not attend this month's G-20 meeting.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)