Sensex, Nifty Settle At Over Three-Week High Led By ITC
Indian equity benchmarks rose for fourth straight day to settle at their highest level in over three weeks led by ITC, HDFC Bank, Axis Bank and Reliance Industries.
The S&P BSE Sensex rose 0.48 percent or 161.57 points to 33,788.54 and the NSE Nifty 50 index climbed 0.46 percent or 46.75 points to 10,739.35.
Fourteen out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Consumer Durables index's 1.7 percent gain. The S&P BSE Oil & Gas index also ended 1.5 percent higher led by oil marketing companies (OMCs) which rose after crude oil posted its biggest weekly decline since February.
On the flipside, the S&P BSE Teck index was the top sectoral loser, down 0.99 percent.
Block Deal Alert
- ICICI Bank has 3 crore shares or 0.5 percent equity change hands in two blocks on NSE and BSE. Stock up 0.04 percent at Rs 280.75.
- Bank of Baroda has 12.1 lakh shares change hands in a block. Stock up 2.2 percent at Rs 153.75.
Buyers and sellers were not immediately known
Consumer Durables Index Gains Led By Titan, Bajaj Electricals
Shares of most of the consumer durable companies were trading higher led by Titan Company and Bajaj Electricals. Gauge of consumer durable stocks — the S&P BSE Consumer Durables index rose nearly 2 percent.
Fab Four Stocks Of The Day
- Lemon Tree: The Delhi-based hotel chain operator made a stellar debut on exchanges. The stock rose as much 32 percent to Rs 73.90 against its issue price of Rs 56.
- Smartlink: The Goa-based communications equipment maker rose as much as 6 percent to Rs 110 after board approved to buyback 56 lakh equity shares or 24.85 percent equity at a price of Rs 120 each.
- Datamatics Global: The Mumbai-based IT services company rose nearly 16 percent to Rs 130.60 after its subsidiary acquired 75 percent stake in RJ Globus Solutions, a voice-based BPO service provider.
- HPCL: The Delhi-based oil refiner rose as much as 4.3 percent to Rs 369.30 after crude posted its biggest weekly drop since February.
Stocks Moving On Heavy Volumes
- Suven Life Sciences: The Hyderabad-based drug maker rose as much as 5.7 percent, the most in over two months, to Rs 180.60. Trading volume was 13.6 times its 20-day average.
- Take Solutions: The Chennai-based IT company rose as much as 8.5 percent, the most in over five months, to Rs 189.95. Trading volume was 11.8 times its 20-day average.
- Astral Polytechnik: The Ahmedabad-based CPVC plumbing system maker rose 1.1 percent to Rs 931. Trading volume was 10.4 times its 20-day average.
- CRISIL: The Mumbai-based credit rating agency fell 0.4 percent to Rs 1,896. Trading volume was 5.7 times its 20-day average.