Sensex, Nifty touch record levels as rupee recovers

Sensex, Nifty touch record levels as rupee recovers

Positive global cues on easing trade protectionist measures along with an appreciation in the Indian rupee lifted the key equity indices — S&P BSE Sensex and the NSE Nifty 50 — to settle at fresh high levels on Monday.

On a intra-day basis, the BSE Sensex touched a fresh high of 38,340.69 points, while the Nifty50 climbed a peak of 11,565.30 points.

Index-wise, the wider NSE Nifty50 closed at 11,551.75 points, up 81 points or 0.71 per cent from its previous close of 11,470.75 points.

The benchmark BSE Sensex which had opened at 38,075.07 points, closed at 38,278.75 points, higher by 330.87 points or 0.87 per cent from its previous close of 37,947.88 points. It touched an intra-day low of 38,050.69 points.

In the broader markets, the S&P BSE Mid-cap ended higher by 1.05 per cent and the S&P BSE Small-cap rose by 0.14 per cent.

The BSE market breadth was tilted towards the bulls with 1,437 advances and 1,307 declines.

“Positive global stocks, optimism over a trade resolution between the USA and China and strong institutional activity at home fuelled investor sentiment and pushed the bourses to close the day with gains,” Abhijeet Dey, Senior Fund Manager for equities at BNP Paribas Mutual Fund.

The two economic giants are expected to hold lower-level trade talks this month, offering hope that they might resolve an escalating tariff war, Dey added.

Accordingly, major Asian markets closed on a positive note, barring the Nikkei and Straits indices and European indices including FTSE 100, DAX and CAC 40 traded in the green, said Deepak Jasani, Head of Retail Research at HDFC Securities.

Besides, global cues, the appreciation in Indian rupee supported the indices’ upward movement.

On Monday, the Indian rupee appreciated by 33 paise to settle at 69.83 per US dollar, from its record closing low of 70.16 per dollar on the previous trade session.

“The rupee has appreciated today as the US dollar index has witnessed profit booking,” Anand Rathi Shares and Stock Brokers’ Research Analyst Rushabh Maru told IANS.

“There is an optimism in the market that US and China would find a solution for ongoing trade conflict. So that has also supported the rupee.”

Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 483.04 crore and the domestic institutional investors purchased stocks worth Rs 593.22 crore.

Sector-wise, the S&P BSE capital goods index rose 668.41 points, the metal index was up 332.36 points and the auto index rose by 244.22 points.

In contrast, the S&P BSE IT index declined by 188.84 points, consumer durables fell 127.24 points and Teck (entertainment, technology and media) index ended lower by 76.07 points from its previous close.

The major gainers on the Sensex were Larsen and Toubro, up 6.74 per cent at Rs 1,323.95; Tata Motors (DVR), up 5.74 per cent at Rs 143.80, Tata Motors, up 4.74 at Rs 269.55; ONGC up 3.34 per cent, at Rs 168.55; and Tata Steel, up 3.24 per cent at Rs 599.40 per share.

The majors losers were Infosys, down 3.22 per cent at Rs 1,385.20; Maruti Suzuki, down 0.79 per cent at Rs 9,075.90; ICICI Bank, down 0.50 per cent at Rs 338.35; Axis Bank, down 0.46 per cent at Rs 624.20; and Hindustan Unilever, down 0.30 at Rs 1,775.40 per share.

-PTI |21 August 2018 | Mumbai

Sensex rises over 100 points, Nifty nears 10,600

Sensex rises over 100 points, Nifty nears 10,600 

The BSE Sensex rose over 100 points in early trade today, continuing its winning spree for the 10th straight session, on positive global leads and sustained buying by domestic institutional investors.
The 30-share index moved higher by 110.13 points, or 0.32 per cent, to 34,505.19. The gauge had gained 1,375.99 points in the previous nine sessions.
SensexAll the sectoral indices, led by metal and healthcare stocks, were trading in the positive territory.  The broader Nifty too opened higher by 30.70 points, or 0.29 per cent, at 10,579.40.
Brokers said continuous buying by domestic institutional investors (DIIs) and retail investors following a firm trend at other Asian bourses, overnight gains on Wall Street, and encouraging economic data strengthened market sentiment.
Major early gainers were Wipro, Yes Bank, Adani Ports, ITC, Asian Paint, Tata Motors, Bharti Airtel, ONGC, Sun Pharma, Tata Steel, TCS, Maruti Suzuki and RIL rising up to 1.47 per cent.
Meanwhile, on a net basis, DIIs bought shares worth Rs 723.81 crore, while foreign funds sold shares to the tune of Rs 951.39 crore yesterday, provisional data showed.

Brokers said continuous buying by domestic institutional investors (DIIs) and retail investors following a firm trend at other Asian bourses, overnight gains on Wall Street, and encouraging economic data strengthened market sentiment. Major early gainers were Wipro, Yes Bank, Adani Ports, ITC, Asian Paint, Tata Motors, Bharti Airtel, ONGC, Sun Pharma, Tata Steel, TCS, Maruti Suzuki and RIL rising up to 1.47 per cent.

Globally, Japan’s Nikkei moved up 1.29 per cent and Hong Kong’s Hang Seng gained 0.27 per cent in early trade today. Shanghai Composite Index, however, shed 0.36 per cent. The US Dow Jones Industrial Average ended 0.87 per cent higher in yesterday.

– PTI/18 April 2018 / Mumbai

Uran Suspects’ sketches released, may targets ONGC

Mumbai, Uran on high alert: Suspects’ sketches released, one heard as saying We will target ONGC

Mumbai, Uran on high alert: Suspects' sketches released, one heard as saying `We will target ONGC`

The Maharashtra Police on Thursday night issued sketches of suspects spotted moving suspiciously near a naval base at Uran in neighbouring Raigad district.

The information by some local students led to a multi-agency search operation.

Based on the description given by some school children at Uran who spotted the armed suspects, their sketches were issued late last night, police said on Friday.

Meanwhile, National Security Guard and Navi Mumbai Police today questioned the girl who claimed to have seen the suspected gunmen.

Reports say that the girl has told the officials that she saw four-five men dressed in Pathani suits and a few of them were wearing masks. “They (suspected gunmen) were talking that we will target ONGC and split into two groups,” added the girl.

The schools and colleges in Uran and adjoining areas have been shut today.

“As per the reports, five to six persons were sighted in Pathani suits and appeared to be carrying weapons and backpacks,” Naval spokesman Cdr Rahul Sinha had earlier said.

Some reports said they were in military uniform.

The alert, which comes four days after the Uri attack which left 18 soldiers dead, has led to elite forces like National Security Guard (NSG), state police’s specialised commandos Force One, Anti-Terrorist Squad, Maharashtra Police, Navi Mumbai police, Mumbai police, and other agencies being roped in for the search and security.

Despite carrying out a massive combing operation in Uran and Karanja areas, police are yet to trace the suspects.

Navi Mumbai Commissioner of Police monitored the situation throughout the night along with other top officials.

A strict vigil by police and other security agencies is being maintained in the area.

A high alert was yesterday sounded along the Mumbai coast and adjoining areas after a group of men were spotted moving suspiciously near a naval base at Uran in Raigad, leading to search operations by multiple agencies.

The alert came four days after the Uri attack which left 18 soldiers dead.

The Navy pressed its choppers for surveillance and heightened patrolling in the sea by its vessels and high-speed boats.

Some children from Uran Education Society’s school first spotted the suspects, and their teacher informed the police, the police said.

Subsequently, the Western Naval Command issued a “highest state of alert” along the Mumbai, Navi Mumbai, Thane and Raigad coasts where several sensitive establishments and assets are located.

A similar high alert was sounded in Mumbai with armed police taking positions at various points in south Mumbai, including near the Gateway of India and Girgaum Chowpatty. All coastal police stations from Palghar to Goa have been alerted to keep a lookout for any suspicious activities.

Western India’s biggest naval base, the Bhabha Atomic Research Centre, fertiliser plants, refineries, power plants and the country’s largest container port, JNPT are located in close vicinity of Uran.

The fishing town of Uran is located across the eastern waterfront of the financial capital. The base located close to the town also houses units of MARCOS, the Navy’s elite strike force.

The development brought back memories of November 26, 2008, when a group of 10 Pakistani terrorists had sneaked into Mumbai through the Arabian Sea at Colaba and then created mayhem for 60 hours.

Much earlier, the sea route was taken for landing large quantities of arms and ammunition at various points on the Maharashtra coast which were used for carrying out the serial bomb attacks in Mumbai on March 12, 1993

-September 23, 2016, Mumbai

 

Top 7 companies lose Rs. 48,763 crore in m-cap; TCS hit hardest

Top 7 companies lose Rs. 48,763 crore in m-cap; TCS hit hardest

The combined market valuation of seven of the top-10 most valued Sensex firms declined by Rs 48,762.5 crore last week, with IT bellwether TCS taking the steepest hit.

While TCS, HDFC Bank, CIL, Sun Pharma, ONGC, HDFC and HUL suffered losses in their market capitalisation (m-cap), RIL, Infosys and ITC emerged as gainers.Tata Consultancy Services office in Chennai. File photo.

Software major TCS, which reported a lower-than-expected 14.2 per cent growth in net profit for the October-December quarter on Tuesday (January 12), witnessed an erosion of Rs. 26,354.48 crore from its m-cap, which stood at Rs. 4,46,006.36 crore.

The market valuation of ONGC plunged by Rs. 8,298.82 crore to Rs. 1,87,835.79 crore and that of HDFC Bank dipped by Rs. 4,785.04 crore to Rs. 2,63,328.64 crore.

Mortgage lender HDFC’s m-cap slumped by Rs. 4,159.95 crore to Rs. 1,81,372.05 crore while that of CIL dropped by Rs. 1,800.16 crore to Rs. 2,00,986.72 crore.

Similarly, the valuation of Sun Pharma went down by Rs. 1,708.69 crore to Rs. 1,89,135.18 crore and that of HUL fell by Rs 1,655.36 crore to Rs 1,74,007.67 crore.

In stark contrast, the m-cap of Infosys surged by Rs. 17,812.81 crore to Rs. 2,61,897.63 crore and that of RIL jumped by Rs. 15,904.53 crore to Rs. 3,47,615.95 crore.

Infosys on January 14 reported a better-than-expected 6.6 per cent rise in its third quarter net profit and raised its annual revenue growth forecast.

Meanwhile, ITC added Rs. 321.46 crore in its market capitalisation to take it to Rs. 2,52,151.15 crore.

The pecking order of the top-10 list showed that TCS stood at number one position despite taking a big hit in m-cap, followed by RIL, HDFC Bank, Infosys, ITC, CIL, Sun Pharma, ONGC, HDFC and HUL.

On a weekly basis, the benchmark BSE Sensex fell by 479.29 points, or 1.92 per cent, to 24,455.04, its weakest closing since May 30, 2014, while the broader NSE Nifty lost 163.55 points, or 2.15 per cent, to 7,437.80.

-PTI, NEW DELHI, January 17, 2016

Tata Motors only Indian firm on top-50 global R&D

Tata Motors only Indian firm on top-50 global R&D

Tata Motors has entered the top-50 league of the world’s biggest companies in terms of their R&D investments, topped by German automaker Volskwagen.

On the annual Industrial R&D Investment Scoreboard for 2015, prepared by European Commission, Volkswagen is followed by Samsung, Microsoft, Intel and Novartis in the top-five.

Tata Motors has moved up from 104th position last year to 49th now and has also shown the largest increase in R&D (Research and Development) investments on the list. However, most of this R&D is at its UK subsidiary Jaguar Land Rover.

In the expanded list of the world’s 2,500 top R&D firms, there are a total of 26 Indian companies, as against 829 from the US, 360 from Japan, 301 from China, 114 from Taiwan, 80 from Switzerland and 27 each from Canada and Israel.

There are 608 companies from the EU countries, including 136 from Germany, 135 from the UK, 86 from France, 42 from Sweden and 32 from Italy. India is overall placed at 15th position in terms of the number of companies on the list.

Among other Indian companies, Dr Reddy’s Laboratories is ranked 404th, M&M is at 451st, Reliance Industries at 540th, Lupin at 624th, Sun Pharma at 669th, Cipla at 831st and Infosys at 884th.

Other Indian firms on the list include ONGC, Tata Steel, Wockhardt, Cadila Healthcare, Bajaj Auto, Hindalco, BHEL, Piramal Enterprises, Wipro, Helios and Matheson, HCC, Ashok Leyland, Apollo Tyres, TCS, Suzlon Energy, TVS Motor, Force India, HCL Tech and Glenmark.

While the top-five companies globally have retained their respective positions, Google has moved up to sixth place (from 9th), while Pfizer has moved to 10th (from 15th). Roche, Johnson and Johnson and Toyota are ranked 7th, 8th and 9th, respectively.

-PTI | Dec 20, 2015