Last-Hour Rally Help Sensex, Nifty Resume Gains After One-Day Blip
BSE Building. (Source: BloombergQuint)

Last-Hour Rally Help Sensex, Nifty Resume Gains After One-Day Blip

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Closing Bell: Last-Hour Rally Help Sensex, Nifty Resume Gains After One-Day Blip

Indian equity benchmarks resumed gains after a one-day blip led by the rally in the last hour of trade.

The S&P BSE Sensex ended 0.76 percent higher at 37,384 and the NSE Nifty 50 ended 0.85 percent higher at 11,075.90. The broader markets represented by the NSE Nifty 500 Index ended 0.77 percent higher.

On weekly basis, the 31-share index and the 50-stock gauge ended 1.1 percent higher and 1.2 percent higher respectively. The 500-share gauge ended 1.5 percent higher.

The market breadth was tilted in favour of Buyers. About 1,127 stocks advanced and 655 shares declined on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Realty Index’s 1.5 percent rally. On the flipside, the NSE Nifty Pharma Index was the only sectoral gainer, down 0.85 percent.

Last-Hour Rally Help Sensex, Nifty Resume Gains After One-Day Blip

Bond Market Update: 10-Year Yield Drops

The yield on the 10-year benchmark fell nearly five basis points to 6.62 percent. It had declined six basis points intraday.

Money Market Update: Rupee Struggles To Hold Gains

The Indian rupee struggled to hold gains against the U.S. dollar.

The home currency appreciated 0.06 percent to 71.09 against the greenback. It had appreciated 0.38 percent intraday.

Fab Four Stocks Of The Day

Gravita India

  • Stock rose as much as 10.1 percent to Rs 49.95.
  • Ghana arm has increased its capacity of its existing Lead Recycling Plant from 60000MTPA to 12000MTPA
  • Investment of Rs 21 crore was made for this plant

Motherson Sumi

  • Stock rose as much as 4.6 percent to Rs 107.80.
  • Goldman Sachs Upgraded to ‘Buy’ from ‘Neutral’ with a price target at Rs 121.
  • Ramp-up of new plants and execution of new orders will aid earnings.
  • Improvement in profitability at group company led by lowering losses at plants.

MMTC

  • Stock rose as much as 18.8 percent to Rs 26.25.
  • The company has invited bids for import of 2,000 tonnes of onion from countries such as Pakistan, Egypt, China and Afghanistan, to improve domestic supply and check prices, according to a PTI report on Sept. 11.

Hindustan Copper

  • Stock rose as much as 13.2 percent to Rs 39.95.
  • Trading volume was four times its 20-day average.

Market Check: Sensex, Nifty Set To Resume Gains

Indian equity benchmarks are set to resume gains after a one-day blip.

The S&P BSE Sensex rose 0.66 percent to 37,348 as of 3:05 p.m. and the NSE Nifty 50 rose 0.76 percent to 11,067. The broader markets represented by the NSE Nifty 500 Index rose 0.7 percent.

Stocks Moving On Heavy Volumes

Indian Energy Exchange

  • Stock fell as much as 14.4 percent to Rs 112.
  • Trading volume was almost 60 times its 20-day average.

Sundaram Finance

  • Stock fell as much as 0.94 percent to Rs 1,510.
  • Trading volume was almost eight times its 20-day average.

MMTC

  • Stock rose as much as 13.1 percent to Rs 25.
  • Trading volume was almost seven times its 20-day average.

Great Eastern Shipping

  • Stock rose as much as 2 percent to Rs 252.
  • Trading volume was almost eight times its 20-day average.
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