Markets

News Details

( 12 Oct 2017)
Mid-Session: Sensex inches close to 32,000, Nifty reclaims 10,000; Sun Pharma up 2%

The Indian equities extended rally in the late morning deal on Thursday, tracking firm cues from Asian peers, led by gains in metal and FMCG stocks. Markets across Asia were trading higher after Wall Street ended higher in the overnight trade amid easing geopolitical tensions such as the secessionist push in Spain and cooling tensions on the Korean peninsula. Lakshmi Vilas Bank continued losing streak for the second day on Thursday and tumbled over fell over 5 per cent after private-sector lender reported a sharp decline of 83.81 per cent in its net profit at Rs 10.50 crore for the second quarter ended September 30, 2017 compared to Rs 64.85 crore in the corresponding period last year, weighed down by rise in bad loans. Sun Pharmaceutical Industries surges 2 per cent after the drug maker said that it has received Establishment Inspection Report (EIR) from the US Food and Drug Administration (US FDA) for its Dadra plant.

At 12:10 hours, the 30-share benchmark index was trading at 31960.51, up by 126.52 points or by 0.4 per cent, and the NSE Nifty was at 10029.6, up by 44.8 points or by 0.45 per cent.

In the day’s trade so far, the Sensex touched intraday high of 31981.66 and intraday low of 31813.67, while the NSE Nifty touched intraday high of 10037.05 and intraday low of 9977.1.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 536.30,+2.00%), Reliance Industries Ltd. (Rs. 852.70,+1.46%), Hindustan Unilever Ltd. (Rs. 1232.90,+1.27%), Mahindra & Mahindra Ltd. (Rs. 1335.50,+1.20%), Lupin Ltd. (Rs. 1057.70,+1.17%), among others.

On the flip side, Bharti Airtel Ltd. (Rs. 400.00,-0.84%), Tata Motors Ltd. (Rs. 411.90,-0.81%), Asian Paints Ltd. (Rs. 1152.40,-0.69%), State Bank of India (Rs. 250.00,-0.64%), Infosys Ltd. (Rs. 924.90,-0.61%), were among top losers on BSE.

On the sectoral front, metal and FMCG stocks were among top gainers, adding as much as 1.48 per cent and 1.32 per cent, respectively.

The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2587, shares advanced were 1588, while 896 shares declined, and 103 were unchanged.