Sensex, Nifty Resume Gains After One-Day Blip; RIL Closes At Record High
Closing Bell: Sensex, Nifty Resume Gains After One-Day Blip
Indian equity benchmarks extended gains after a one-day blip.
The S&P BSE Sensex rose 0.46 percent to end at 40,469.70 and the NSE Nifty 50 rose 0.47 percent to close at 11,940.10. The broader markets, represented by the NSE Nifty 500 Index, gained 0.35 percent.
The gains in the benchmark indices was led by Reliance Industries Ltd., after it rose 3.8 percent to close at a record high at Rs 1,514.90.
The market breadth, however, was tilted in favour of sellers. About 928 stocks declined and 855 shares advanced on the National Stock Exchange.
Seven out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty PSU Bank Index’s 3.9 percent gain. On the flipside, the NSE Nifty Metal Index was the top sectoral gainer, up 0.85 percent.
Fab Four Stocks
- Accelya Kale Solutions: Shares rose 16 percent intraday to Rs 1,245.20 each—a 17-month high.
Vista Equity Partners is set to buy controlling stake in the firm from Warburg Pincus, according to an exchange filing.
- Castrol India: Shares of the automotive lubricants maker rose 7.2 percent to Rs 154.90 each.
Brokerage firm HSBC hiked the target price to Rs 165 from Rs 142 while maintaining a ‘Buy’ rating. The hike was on account of lower corporate tax rate.
- Prestige Estates: Shares of the real-estate firm rose as much as 4 percent to Rs 301.95 apiece.
The company acquires 29 percent stake In DB Realty’s commercial project In Mumbai From Trinity Capital. Last month, it announced JV with DB Group for project in New Delhi’s Aero City with an investment of Rs 1,000 crore.
- Tata Elxsi: Shares of the Tata Group firm rose close to 5.2 percent to Rs 831.30 apiece.
Fresh longs seen with high open interest of 26.6 percent. While trading volume was twice the 20-day average for this time of the day, Bloomberg data showed.
Rana Kapoor Sells 0.8% Stake Yes Bank
Rana Kapoor today sold 2.04 lakh shares or 0.8 percent equity in Yes Bank, according to a stock exchange notification. Kapoor and his associate companies now own 900 shares in the Mumbai-based lender.
Shares of Yes Bank traded little changed at Rs 65.80 as of 2:43 p.m. The stock had declined as much as 4.3 percent earlier after gaining as much as 2.1 percent in the opening trade.
Stocks Moving On Heavy Volumes
- Stock rose as much as 4.1 percent to Rs 411.85.
- Trading volume was 90 times its 20-day average.
Lemon Tree Hotels
- Stock rose as much as 4.9 percent to Rs 61.
- Trading volume was more than 20 times its 20-day average.
SBI Life Insurance
- Stock fell as much as 7 percent to Rs 930.
- Trading volume was more than 30 times its 20-day average.
- Stock rose as much as 20 percent to Rs 15.60.
- Trading volume was almost 12 times its 20-day average.
Global markets Update: European Futures Edge Higher
U.S. stock futures were little changed and European ones edged up on Tuesday as investors continued to await signs of progress in U.S.-China trade negotiations.
- Futures on the S&P 500 Index were little changed.
- The index rose less than 0.1 percent.
- Euro Stoxx 50 futures gained 0.4 percent.
- The MSCI Asia Pacific Index rose 0.2 percent.
- Topix index fell 0.2 percent.
- Hang Seng Index jumped 1.3 percent.
- Shanghai Composite gained 0.9 percent.
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RIL Gains Nearly 4%, Shares Hit Record High
Shares of Reliance Industries roe as much as 3.6 percent to hit an all-time high at Rs 1,511.45.
The stock gained 5.5 percent in the past five days and returned 6.4 percent in the past 30 days. Reliance Industries traded at 20 times its estimated earnings per share for the coming year, Bloomberg data showed.