Skip to main content


Market benchmark Sensex rebounded by 190 points to finish at 23,381.87 today on fag-end buying from investors at lower levels coupled with higher European cues following recovery in crude oil prices. The broader NSE Nifty too regained the key 7,100-mark. Late recovery in beaten-down state-run lender stocks on value-buying, particularly, State Bank of India, influenced sentiment. However, concerns prevailed as the rupee depreciated to to a 30-month low of 68.67 against dollar during the day. "indexes opened on a negative note followed mixed global cues but gained momentum post the opening of European indexes in green," said Gaurav Jain Director of Hem Securities. The BSE benchmark Sensex opened higher at 23,237.23 and hovered in a range of 23,434.91 to 22,920.84 before finishing at 23,381.87, showing a gain of 190 points or 0.82 per cent. The index dropped by 362 points yesterday as participants locked in gains in blue-chips amid contraction in exports. The NSE 50-share also recovered by 60.20 points or 0.85 per cent to close at 7,108.45 after moving in a range of 7,123.70 to 6,960.65. Shares of Jindal Steel & Power continued to face selling pressure for a second day, plunging 3.47% per cent amid concerns over the company's debt situation. United Breweries Holdings also fell for a second session, falling by nearly 5 per cent, after state-run Punjab National Bank declared Vijay Mallya as well as his group firms UBHL and long-grounded Kingfisher Airlines as 'wilful defaulter'. However, Dr Reddy's rose by nearly 4 per cent as the company will buyback around 44.85 lakh shares, accounting for about 2.6 per cent of the existing paid up capital, for up to Rs 1,569 crore. Overseas, European stocks were trading higher tracking an overnight Wall Street rally. Key indexes like France, Germany and the UK rose by 1.12 per cent to 1.41 per cent. Asian stocks ended mixed, with investors cautious about an agreement among some major oil-producers to steady output. Key indexes in Asia, Hong Kong, Japan, Singapore and South Korea fell by 0.23 per cent to 1.36 per cent while China and Taiwan rose between 0.03 per cent and 1.08 per cent. 
Back home, out of the 30-share Sensex pack, 21 scrips ended higher. Major gainers were Adani Ports (5.84 pc), Dr Reddy's (3.52 pc), Sun Pharma (3.29 pc), Tata Motors (3.02 pc), Tata Steel (2.65 pc), RIL (2.45 pc), BHEL (2.42 pc), SBI (1.76 pc), Asian Paints (1.52 pc) and ITC (1.42 pc). However, ICICI Bank fell by 3.10 per cent followed by Coal India (1.71 pc), Lupin (1.40 pc), Cipla (0.83 pc) and Axis Bank (0.49 pc). Buying by retail investors re-emerged in broader markets helping the mid-cap and small-cap indexes move up by 0.21 per cent and 0.47 per cent, respectively. Among BSE sectoral indices, healthcare rose by 1.57 per cent, followed by energy 1.41 per cent, oil&gas (1.40 pc), industrials (1.28 pc), auto (1.03 pc), capital goods (0.97 pc), IT (0.88 pc) and tech (0.87 pc) while consumer durables fell 2.34 per cent, followed by bankex 0.23 per cent and finance 0.07 per cent. The market breadth remained negative as 1,439 stocks ended lower, 1,112 closed higher while 145 ruled steady. The total turnover fell to Rs 2,352.52 crore from Rs 2,604.51 crore yesterday. 


Popular posts from this blog


Stock markets ended on a flat note on Wednesday, just below their record highs, but finished Samvat 2073 with robust gains of over 16 per cent. Equities added over Rs 25 lakh crore to investors' wealth this Samvat year. The benchmark Sensex has gained 4642.84 points, or 16.61 per cent, in the Hindu Samvat year 2073, while the broader NSE Nifty surged 1572.85 points, or 18.20 per cent during this period.
Small loss in last session
In the last session of the Samvat 2073 on Wednesday, the 50-share Nifty fell by 23.60 points or 0.23 per cent to close at 10,210.85 after moving between 10,175.75 and 10,236.45. The Sensex resumed lower at 32,518.56 and fell further to a low of 32,462.85 before ending at 32,584.35, down 24.81 points or 0.08 per cent. Investors adopted a cautious approach ahead of the long Diwali weekend, while a weak rupee too affected sentiment, brokers said.
- Axis Bank emerged as the worst performer among Sensex components, tumbling 9.52 per cent following a spike in ba…


The Aditya Birla group has entered the top valuation league with a market cap of over USD 50 billion post listing of financial services arm Aditya Birla Capital (ABCL), but Tatas remain on top with over USD 132 billion.
The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs 3,42,354.87 crore (USD 53.5 billion) at the end of Friday's trade.
Among various listed companies of the group, UltraTech Cement's valuation stood at Rs 1,10,097.70 crore at the end of Friday's trade while that of Grasim Industries was Rs 76,881.73 crore.
The newly-listed Aditya Birla Capital's market capitalisation was over Rs 55,000 crore, Hindalco (Rs 54,607.09 crore), Idea Cellular (Rs 32,064.91 crore), Aditya Birla Fashion and Retail (Rs 13,155.73 crore) and Aditya Birla Money (Rs 547.71 crore).
Among Indian conglomerates, the Tata group remains on the top in terms of total valuation of listed firms with about Rs 8,46,567 crore (USD 132.5 billion).
There are 29 pu…


Leading businessman Anil Ambani today said more than creating wealth for himself, his father late Dhirubhai Ambani derived greater happiness from creating wealth for masses. "If you ever asked what part of being an entrepreneur he (late Ambani) enjoyed the most, he would say, 'I enjoy creating wealth. But what I enjoy even more is in creating wealth for the people of the country,'" the Anil Ambani Group chairman said while addressing an industry event here. It can be noted that the late Ambani, who had a humble beginning as a primary school teacher's son in Gujarat, is regarded as the father of capital markets and the equity cult, who made millions of investors millionaires with the IPO of Reliance Textile Industries in 1977. A person who had put in Rs 1,000 then in the IPO is worth over a million today, going by the price of RIL. Stating that the launch of Kothari Pioneer Mutual Fund, which was country's first private MF in 1993, was his (Dhirubhai's) id…