Sensex rises over 100 points; realty and banks gain

 

 

Mumbai: The 30-share bellwether BSE Sensex on Friday was trading higher by over 100 points led by shares of banking, realty and healthcare firms.

At 9.30am, the Sensex was trading up 0.49%, or 109.26 points, at 22,527.06, while the National Stock Exchange’s (NSE’s) broader 50-share Nifty was trading higher by 0.35%, or 23.35 points, at 6,719.75 points.

The gainers included Tata Power Co. Ltd that was trading up 1.67% at Rs.79.35 and Tata Steel Ltd that rose 1.14% to Rs.405.15.

Among the losers, Mahindra and Mahindra Ltd (M&M) fell 1.86% to Rs.1,052.20 after it reported 15% drop in its sales to 34,107 units in April despite excise cut.

Maruti Suzuki India Ltd was trading at Rs.1,892.90, down 1.31%, after it reported 12% fall in domestic sales for April. The company has stripped three chief operating officers (COOs) of their executive powers, according to three people familiar with the matter. Two of the executives were in charge during the labour strike that led to an outbreak of violence at its Manesar plant in 2012.

All the sectoral indices were trading higher. The BSE Bankex was the top sectoral gainer, up 0.96%. The BSE realty was up 0.8%. The BSE capital goods and power indices were up 0.76% each.

Shriram City Union Finance Ltd was trading at Rs.1,239 on BSE, up 4.73%, from its previous close after it sold nearly 10% stake to Piramal Enterprises Ltd for Rs.789 crore. The board of Shriram City approved the issuance of 6.6 million equity shares to Piramal Enterprises at a price of Rs.1,200 each.

Multi Commodity Exchange of India Ltd (MCX) was trading at Rs.556.20 on BSE, up 4.25% from its previous close and Financial Technologies India Ltd (FTIL) was trading at Rs.324.50 on BSE, up 2.77% from its previous close after reports that MCX’s managing director and chief executive officer Manoj Vaish has resigned.

3i Infotech Ltd, Godrej Properties Ltd, Grasim Industries Ltd, HeidelbergCement India Ltd, Hindustan Construction Co. Ltd, Pfizer Ltd, Reliance Capital Ltd, Reliance Communications Ltd and V-Guard Industries Ltd are some of the companies that will release their earnings for March quarter on Friday.

Since the beginning of this year, the BSE Sensex has gained 6.25%, while foreign institutional investors have bought $5.2 billion from local equity markets.

Asian markets were trading higher on Friday. China’s Shanghai Composite was trading up 0.3%, Hong Kong’s Hang Seng was up 0.63% while Japan’s Nikkei Stock Average was down 0.23%.

Overnight, US markets closed marginally down. The Dow Jones Industrial Average ended down 0.13%, S&P 500 down 0.01% and Nasdaq Composite closed up 0.31%.

 

 

jawed eqbal

pgdm 2nd sem