Sensex, Nifty Post This Year’s Longest Winning Streak
Indian equity benchmarks rose for seventh day in a row posting their longest winning streak this year.
The S&P BSE Sensex rose 0.27 percent or 91.52 points to 34,192.65 and the NSE Nifty 50 index advanced 0.21 percent or 21.95 points to 10,480.60 led by Reliance Industries, Kotak Mahindra Bank and Infosys.
The benchmarks also clocked third weekly gain. For the week, Sensex gained 1.68 percent and Nifty climbed 1.44 percent.
Fifteen out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Metal index's 1 percent gain. On the flipside, the S&P BSE Capital Goods index was the top sectoral loser, down 0.7 percent.
Infosys Pares Gains As Street Awaits Q4
Shares of the country's second largest IT firm pared gains as street awaited its March quarter earnings. The stock rose 0.6 percent to Rs 1,169.
Earlier in the day, the stock rose as much as 2 percent to Rs 1,186.
Tata Steel Q4 India Output At 3.07 Million Tonnes
Shares of Tata Steel slipped 0.8 percent to Rs 593.65 after it announced output and sales numbers.
- Tata Steel India sales at 3.01 million tonnes
- Tata Steel Europe output at 2.62 million tonnes, sales at 2.48 million tones
- Tata Steel Europe output marginally lower on unplanned outages
Fab Four Stocks Of The Day
- Genus Power: The Jaipur-based electronic meter and power control equipment maker rose as much as 3.8 percent to Rs 56.75 after Kotak Securities reiterated its ‘buy’ rating on the stock for target price of Rs 79.
- Premier Explosives: The Secunderabad-based explosives maker rose as 7 percent to Rs 379.25 after it announced a tie up with Nexter to jointly manufacture BMCS (bi-modular propellant) charges.
- Ashok Leyland: The Chennai-based commercial vehicle maker rose as much as 3.76 percent, the most in a month, to Rs 150.55. Ashok Leyland has won an order to supply High Mobility 10x10 vehicles to carry Smerch Rockets worth Rs 100 crore from the Defence Ministry, the company said in an exchange filing.
- Rupa & Co: The Kolkata-based innerwear maker rose as much as 14.6 percent, the most in nearly seven months, to Rs 456.70. Trading volume was 46.6 times its 20-day average.
Oil Retailers Resume Decline As Crude Trades Above $70
Shares of oil retailers resumed decline after Brent Crude traded above $70 mark in international markets.
- Bharat Petroleum declines 2.6 percent
- Hindustan Petroleum falls 0.95 percent
- Indian Oil declines 1.3 percent