Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
July 21, Saturday 2018 7:17 PM       

       HEADLINES: Search for Maoists in Wayanad, third captive escaped                                              Centre grants Rs 80 crore to Kerala as monsoon relief fund                                              Mother and son found hanging                                              “Government complete failure in tackling monsoon calamities”: Chennithala                                              PM’s stand towards all-party delegation calls for protest: CPM                                              Modi mocks Rahul over his gesture, says he is in 'hurry' to get PM's chair                                              Death in pothole accidents on roads 'frightening': SC                                              Ammunition room hidden in  Red Fort                                              Rape attempt: Temple priest arrested in Haryana                                              15 injured as school bus falls off bridge in Chattisgarh                                              Indian detainees in US not handcuffed, says volunteer                                              Trump invites Putin to US for talks amidst backlash over first summit in Helsinki                                              CIA: China is waging a 'quiet kind of cold war' against US                                              Heat wave has Tokyo residents concerned about Olympics                                              Ramanathan enters semifinals, Paes out of Hall of Fame Open                                              David Warner returns to cricket in Australia in Darwin                                              Kaumudi Facebook
       BUSINESS Next Article: India expecting US to get in touch with it over sanctions on Iran  
       Sensex rallies 267 points; bank, auto stocks in limelight
         Posted on :22:28:52 Jul 4, 2018
       Last edited on:22:28:52 Jul 4, 2018
         Tags: Sensex, 267 points, stocks in limelight
Mumbai: The BSE Sensex today rose by nearly 267 points to hit a near two-week high of 35,645.40 on bouts of buying towards the fag-end of the session, mainly in bank and auto shares, after the Centre hiked MSP for most kharif crops.
The benchmark index moved in a narrow range for most part of the day due to weak global cues amid concerns related to trade tariff spat and macro-economic conditions but the late buying in some key sector stocks helped the Sensex come out of range-bound trading.
Consistent buying by domestic institutional investors and encouraging services PMI data for June also helped in lifting trading sentiment.
In a major fillip to the farm sector, the government today approved a steep hike in the minimum support price (MSP) of 14 kharif crops, which will cost the exchequer more than Rs 15,000 crore.
"After an insipid start, the market gained momentum on account of better auto sales and government's announcement of increase in MSP. Rural income and spending power will increase due to higher minimum price and progressing monsoon which may result in higher demand for consumption oriented stocks...," Vinod Nair, Head of Research, Geojit Financial Services Ltd, said.
Meanwhile, the services sector returned to growth during June and registered the fastest rate of expansion in a year, supported by robust increase in new business orders, said a monthly survey.
The BSE 30-share Sensex started on a positive note at 35,385.52 and advanced to the day's high of 35,667.31 before ending at 35,645.40 -- a near tow-week high -- up 266.80 points, or 0.75 per cent.
The 30-share BSE gauge closed at 35,689.60 on June 22, 2018.
The Sensex today touched the day's low of 35,309.67.
It had gained 114.19 points in the previous session.
The NSE Nifty, after hitting a high of 10,777.15, closed at 10,769.90, up 70 points, or 0.65 per cent. It touched a low of 10,677.75 intra-day.
Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 278.84 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 1,043.31 crore yesterday, provisional data showed.
European markets fell at the start of trade, tracking weak global cues.
Major players in the paddy space such as Kohinoor Foods rose 12.96 per cent, followed by LT Foods 7.01 per cent and Chaman Lal Setia exports 2.27 per cent.
Most fertilizer stocks also rose, led by Shiva Global Agro Industries surged 9.33 per cent, followed by Coromandel Agro Products 4.88, Fertilisers and Chemicals Travancore (FACT) 0.77 per cent and Gujarat Narmada Valley Fertilisers & Chemicals (GNFC) 1.68 per cent.
Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
Other gainers were: HDFC Ltd 2.09 per cent, HUL 2.03 per cent, RIL 1.90 per cent, HDFC Bank 1.57 per cent, IndusInd Bank 1.33 per cent, Coal India 1.21 per cent, Kotak Bank 1.05 per cent, Sun Pharma 0.94 per cent, M&M 0.69 per cent, Axis Bank 0.59 per cent, L&T 0.56 per cent, Hero Motocorp 0.43 per cent and Tata Steel 0.42 per cent.
On the other hand, NTPC fell 1.64 per cent, Vedanta 1.21 per cent, ONGC 1.20 per cent, Bharti Airtel 1.01 per cent, Tata Motors 0.93 per cent, Power Grid 0.81 per cent, Adani Ports 0.63 per cent, Yes Bank 0.39 per cent, Infosys 0.38 per cent, TCS 0.33 per cent, ITC 0.26 per cent, Wipro 0.23 per cent and SBI 0.10 per cent.
Sector-wise, auto index surged 1.31 per cent, followed by energy by 1.03 per cent, healthcare 0.80 per cent, bankex 0.69 per cent, FMCG 0.61 per cent, capital goods 0.51 per cent, realty 0.42 per cent and oil & gas 0.09 per cent.
However, the infrastructure index fell 0.64 per cent, followed by IT 0.60 per cent, teck 0.55 per cent, power 0.54 per cent, PSU 0.53 per cent, consumer durables 0.51 per cent and metal 0.03 per cent.
The broader market displayed a mixed trend, the S&P BSE Small-Cap index up 0.38 per cent while the mid-cap index inched down 0.17 per cent.
In Asian regions, Hong Kong's Hang Seng fell 1.06 per cent, Shanghai Composite Index lost 1 per cent and Japan's Nikkei ended 0.31 per cent lower.
European stock markets also started lower with global trade concerns still hovering over markets, as China readies tariffs on the US and the EU looks at mustering big auto-making countries to agree on a new trade deal. Paris CAC shed 0.10 per cent and Frankfurt's DAX traded lower by 0.20 per cent in their early trade. London's FTSE too was down 0.30 per cent.
Next Article: India expecting US to get in touch with it over sanctions on Iran
HDFC Bank Q1 net up 18 pc to Rs 4,601 cr  
Rupee recovers from record lows, up 9 paise against US dollar  
Google to string undersea cable from France to Virginia  
Sensex slides 146 pts on profit-booking, political developments  
India prepared to impose 'safeguards' if steel imports rise: government source  
Nickel falls on lower demand  
May announces new 2 bn pounds UK-Italian fighter jet project  
Infosys shares soar 6% after Q1 earnings  
Rupee slips 6 paise against US dollar  
Niti Aayog working on proposal to replace LPG subsidy with cooking subsidy: Kumar  
India to be $10 trillion economy by 2030: Garg  
No question of closure of DCI; 3 ports to pick up govt stake: Gadkari  
India to be $10 trillion economy by 2030: Garg  
Markets slip from record to end flat on profit-booking  
Markets slip from record to end flat on profit-booking  
No question of closure of DCI; 3 ports to pick up govt stake: Gadkari  
Retail inflation rises to 5 percent in June  
Retail inflation soars to 5% in June, IIP presides to 3.2% in May  
Indian Army signs MoU with SBI on salary package  
US dollar ends sharply lower against rupee  
Gold, silver recover on mild demand  
BSNL starts first internet telephony service in India  
Sensex nears all-time high; TCS shines on Q1 show  
Gold futures gain 0.06% on global cues  
Goyal asks Coal India to ensure supply for power sector  
Do you think Rahul Gandhi acted like a joker in Parliament on Friday?
no opinion
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy