Sensex Closes Nearly 200 Points Higher; Nifty Ends Above 11,000
Closing Bell: Sensex, Nifty End Higher For Third Day
Indian equity benchmarks ended higher for the third consecutive trading session.
The S&P BSE Sensex ended 0.53 percent or nearly 200 points higher at 36,636.10 and the NSE Nifty 50 ended above 11,000 for the first time in a month.
The market breadth was tilted in favour of buyers. About 1,173 stocks advanced and 600 shares declined on National Stock Exchange.
Nine out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Pharma Index’s 1.1 percent rally. On the flipside, the NSE Nifty Media Index was the top sectoral loser, down 1.3 percent.
Quick Heal Technologies Jumps After Buyback Approval
Shares of the cyber security solutions provider rose as much as 7.1 percent to Rs 240 apiece. The stock returned 16.1 percent in the last five sessions.
Quick Heal Technologies Ltd. will buyback 63.6 lakh equity shares or 9.02 percent equity at Rs 275 per share, according to its notification to the exchanges. Total buyback is worth Rs 175 crore.
The stock declined 19 percent in the past 12 months compared with an 8 percent gain in the BSE Sensex.
Grasim Industries Gains After Plans To Buy Soktas India
Shares of the cement-to-textiles conglomerate rose as much as 1.5 percent to Rs 822.20 apiece.
Grasim Industries signed definitive agreement with Soktas India Pvt. Ltd. for an enterprise value of Rs 165 crore, according to its exchange filing. Soktas is in the business of manufacturing and the distribution of premium cotton fabrics and reported revenue and Ebitda of Rs 186 crore and Rs 31 crore in 2017-18.
The stock declined 28 percent in the past 12 months compared to a 10 percent gain in the Sensex.
From Bloomberg: Kotak AMC’s Nilesh Shah’s Advice On How To Ride The Election Season
Mid- and small-sized companies are trading at a discount to their historical averages after the recent selloff, and the fund house plans to gradually boost its exposure to them relative to their larger peers, Nilesh Shah, chief executive officer of Kotak Asset Management Co., told Bloomberg in an interview.
Market Check: Sensex, Nifty At Day’s High
- Indian equity benchmarks traded at day’s high.
- The S&P BSE Sensex rose as much as 0.54 percent to 36,640 and the NSE Nifty 50 traded around 11,050.