RIL, Infosys Help Sensex, Nifty Extend Gains To Day Six
Indian equity benchmarks rose for sixth day in a row led by gains in Infosys and Reliance Industries. However, the gains were capped as HDFC twins witnessed some amount of selling pressure.
The S&P BSE Sensex was little changed at 33,588 and the NSE Nifty 50 Index was also little changed at 10,348.75.
Thirteen out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Metal Index's 1.2 percent drop. On the other hand, the S&P BSE Information Technology Index was the top sectoral gainer, up 0.95 percent.
Sugar Stocks Stage Sudden Upmove
Shares of sugar makers were witnessing strong buying interest in the last 30 minutes of trade.
- Ugar Sugar Works up 12.5 percent
- Balrampur Chini up 3.2 percent
- Shree Renuka Sugars up 7.4 percent
- Bajaj Hindustan rises 5 percent
- Sakthi Sugars rises 3.8 percent
- Triveni Engineering advances 3.6 percent
- Dhampur Sugar advances 6.9 percent
President Gives His Assent To The Ordinance To Amend Insolvency And Banking Code
Finance Ministry Tweets:
- President gives assent to ordinance to amend insolvency & bankruptcy code, 2016
- Ordinance amends sections 2, 5, 25, 30, 35, 240 of the code, and inserts new sections 29a and 235a
- Section 29A is a new section that makes certain persons ineligible to be a resolution applicant
- Those being made ineligible inter alia include willful defaulters
- Those who have their accounts classified as non-performing assets for one year or more
- Also includes those who are unable to settle their overdue amounts
- Include interest thereon & charges relating to the account before submission of the resolution plan
- Those who have executed an enforceable guarantee in favour of a creditor
Block Deal Alerts
- Engineers India (EIL) has 15 lakh shares worth Rs 28 crore change hands in a block at Rs 184.25 per share.
- Syngene has 9.4 lakh shares change hands in a block.
Buyers and sellers were not immediately known
Stocks Moving On Heavy Volumes
- Stock rose as much as 17.7 percent to Rs 389.90.
- Trading volume was 19.8 times its 20-day average.
- Stock rose as much as 20 percent to Rs 105.95.
- Trading volume was 7.6 times its 20-day average.
Security & Intelligence Service
- Stock rose as much as 18.8 percent to Rs 1,070.
- Trading volume was 9.2 times its 20-day average.
- Stock rose as much as 2 percent to Rs 171.10.
- Trading volume was 5.1 times its 20-day average.