Sensex, Nifty End At Fresh Highs Ahead Of Weekly Expiry
A trader speaking on the phone in the dealing room. (Photographer: Jasper Juinen/Bloomberg)  

Sensex, Nifty End At Fresh Highs Ahead Of Weekly Expiry

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Sensex Closes Over 41,000-Mark For The First Time

Indian equity benchmarks closed at record highs helped by investors pumping in money in the final hour of trade.

The S&P BSE Sensex rose 0.49 percent to 41,020.61 at close while the NSE Nifty 50 advanced 0.52 percent to 12,100.70. The broader markets represented by the NSE Nifty 500 index rose 0.54 percent.

Sensex, Nifty End At Fresh Highs Ahead Of Weekly Expiry

Once the Nifty index witnesses a decisive break above 12,150, one can expect a rally to the levels of 12,400 to 12,600 to happen in the next couple of weeks. That’s according to Manav Chopra, head of research, Indiabulls Ventures.

However, the investors should place their support level at 11,950, he said in an interview to BloombergQuint.

The market breadth was tilted in favour of buyers. About 912 stocks advanced and 876 shares declined on National Stock Exchange.

Nine out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty PSU Index’s 1.77 percent gain. On the flipside, the NSE Realty Index was the top sectoral loser, down 0.65 percent.

Sensex, Nifty End At Fresh Highs Ahead Of Weekly Expiry

SBI Cards Files Draft Prospectus For Initial Public Offering

The cards unit of State Bank of India has filed a draft red herring prospectus for its initial public offering.

  • The IPO to comprise of Rs 500 crore worth of new shares.
  • Carlyle Group to divest 9.32 crore shares
  • Parent SBI to divest 3.73 crore shares

Also read: SBI Cards Expects Valuation Of Rs 53,000-60,000 Crore In IPO

Nifty May Rally Towards 124,00-12,600 In The Next Few Weeks, Says Indiabulls Ventures

Once the Nifty index witnesses a decisive break above 12,150, one can expect a rally to the levels of 12,400 to 12,600 to happen in the next couple of weeks. That’s according to Manav Chopra, head of research, Indiabulls Ventures.

However, the investor should place his support level at 11,950, he said in an interview to BloombergQuint.

Bunched Trade Alert: Lemon Tree Hotels

Around 1.08 crore shares traded hands in two bunched trades on Bombay Stock Exchange. Buyers and sellers were not known immediately.

Shares of the New Delhi-headquartered firm pared gains and traded 1.7 percent higher to Rs 61.90 each. The stock rose as much as 4.6 percent earlier in the day.

Source: Bloomberg

CreditAccess Grameen Jumps After Board Approves Acquisition Plans

Shares of the micro-finance lender rose as much as 5.1 percent to Rs 787.90 each.

The company’s board approved the acquisition of up to 76.2 percent stake in Madura Micro Finance Ltd. for Rs 666,40 crore. The acquired firm will be merged into self, the filing said.

The stock has advanced 110 percent in the past 12 months compared to a 15 percent gain in the Sensex.

Sensex, Nifty End At Fresh Highs Ahead Of Weekly Expiry

Bunched Deal Alert: Power Grid Corporation

Around 23.9 lakh shares traded hands in a bunched trade on National Stock Exchange. Buyers and sellers were not known immediately.

Shares of the state-owned transmission firm rose 0.7 percent to Rs 195.75 each.

Source: Bloomberg

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