Pedestrians walk near the Bombay Stock Exchange (BSE), left, in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Close At 1-Month High After Five Straight Days Of Gains

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Closing Bell

Indian equity benchmarks edged higher led by Reliance Industries, TCS and Infosys. However, the gains were capped as oil retailers and banking stocks came under selling pressure.

Meanwhile, the benchmarks rose to one-month highs after five straight days of gains.

The S&P BSE Sensex rose 0.18 percent or 60 points to 33,940 and the NSE Nifty 50 index advanced 0.14 percent or 15 points to 10,417.

Twelve out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Metal index’s 1.6 percent gain. On the flipside, the S&P BSE Oil & Gas index was the top sectoral loser, down 2.2 percent.

The broader markets ended mixed as the S&P BSE MidCap index declined 0.19 percent while the S&P BSE SmallCap index rose 0.2 percent.

Sensex, Nifty Close At 1-Month High After Five Straight Days Of Gains

Fab Four Stocks Of The Day

  • Tata Sponge Iron: The Kolkata-based sponge iron maker rose as much as 5.9 percent to Rs 1,091.70 after Centrum Capital upgraded the stock to 'buy' from 'hold' for target price of Rs 1,165 per share.
  • Associated Alcohols & Breweries: The Indore-based alcoholic beverage maker rose as much as 11.68 percent, the most in two months, to record high of Rs 339.50. Well-known investor Dolly Khanna picked up 1.04 percent stake as per March shareholding pattern.
  • HFCL: The Delhi-based telecom equipment maker rose as much as 5.9 percent to Rs 28.65 after it bagged order worth Rs 579 crore from Bharat Sanchar Nigam Limited (BSNL) for building 2G GSM base service set network in Assam.
  • Aban Offshore: The Chennai-based oil field service provider rose as much as 7.2 percent to Rs 186 after Brent crude rallied 3.5 percent to its highest level since 2014.

Block Deal Alert

  • PTC India has 24.5 lakh shares change hands in a block. Stock down 1.57 percent at Rs 94.10.

Buyers and sellers were not immediately known

Source: Bloomberg

Goa Carbon Q4 Net Profit More Than Doubles

Shares of the Goa-based chemical company fell 0.17 percent to Rs 985.80 after the company reported its March quarter earnings.

Key earnings highlights:

  • Net profit at Rs 11.84 crore versus Rs 4.87 crore (YoY)
  • Revenue at Rs 160 crore versus Rs 87 crore (YoY)
  • EBITDA up 457 percent at Rs 19.5 crore versus Rs 3.5 crore
  • Margins at 12.1 percent versus 4.6 percent

U.S. Will Meet Two-Third Of Global Oil Demand In Next 5 Years: Fatih Birol

Fatih Birol, executive director of International Energy Agency while speaking at International Energy Forum in New Delhi said:

  • Global oil demand will continue to grow strongly by about 1.5 million barrels per day
  • U.S. will be meeting two-third of global oil demand in the next 5 years
  • Since prices have picked up, we will see second wave of shale oil
  • Very high prices are also not in the interest of oil producers
  • Global oil market dynamics change substantially. If we see another price hike, there will be strong response from U.S. and Russian shale gas production
  • Going through difficult times in terms of investments in oil markets