Sensex closes 235 points higher at 33,836, Nifty at 10,463 after Modi’s saffron wave wins Gujarat, Himachal for BJP
The Sensex and Nifty extended their rally in afternoon trade a day after BJP won the key Gujarat and Himachal Pradesh Assembly elections. The benchmark indices carried forward the gains they clocked yesterday after results of Himachal Pradesh and Gujarat polls came out. While the Sensex rose 235 points to 33,836, the Nifty was up 74 points to 10,463 level. Here are the key highlights, which will affect the market today.
3:50 pm: Maruti Suzuki stock hits fresh lifetime high of 9,855 on BSE .
3:35 pm: Auto stocks lead gains; Maruti (5.82%), Hero MotoCorp (4.51%), Tata Motors (3.56%), Bajaj Auto (2.8%) top Sensex gainers.
3:30 pm: Market sees fresh closing highs; Sensex ends 235 pts higher to 33.836, Nifty at 10,463 level.
3:03 pm: Maruti Suzuki (4.75%), Hero MotoCorp (4.58%) and Tata Motors 3.14% are the top Sensex gainers.
2:50 pm: Cab hailing app Ola said it will acquire Foodpanda’s India business from Germany-based Delivery Hero Group in exchange of its stock. Under the deal, Foodpanda’s India business will be transferred to Ola in exchange of the latter’s stock, Ola said.
2: 45 pm: Rupee rises to 64.02 per dollar in afternoon trade.
2:30 pm: Capital raising by a number of public sector banks (PSBs), including PNB and UBI, is credit positive because it will help improve their loss-absorbing buffers, global rating agency Moody’s said. In a Credit Outlook article, Moody’s said it signals improved access to the equity capital markets and will reduce PSBs’ dependence on fund infusion from the government.
2:11 pm: BSE auto index soars 2.2 percent.
1: 20 pm: YES Bank and the European Investment Bank will co-finance USD 400 million funding for renewable power generation in the country. Of the USD 400 million, the EIB will fund USD 200 million while the rest will be supported by Yes Bank, the project promoters and other financial institutions.
1: 00 pm: Amara Raja Batteries commissions two-wheeler battery plant in Andhra Pradesh; shares jump nealy 2 percent in afternoon trade.
12:00 pm: Customers will have to shell out more to buy television sets, microwave, LED lamps and some other electronic items after the government last week hiked import duty on such items to drive up local manufacturing. According to the government notification, Customs duty on television set has been raised to 20 per cent while on imported smartphones, the duty has been hiked to 15 per cent.
11: 45 am: Private sector lender Axis Bank has completed largest fund infusion in the domestic banking sector through the private equity route, totalling Rs 11,626 crore, of which private equity major Bain Capital and a clutch of affiliated entities pumped in a whopping Rs 6,854 crore. The deal also saw Life Insurance Corporation, its principal promoter, pumping in Rs 1,583 crore into the third largest private sector lender.
11:30 am: Home loan growth in April-October fell 32.7% yoy, one of the biggest declines in the last 5 years, data from the Centre for Monitoring Indian Economy showed. In the same period in 2016, home loan growth was down 4.27%, while in 2015, it was up 26.89%.
11:15 am: Domestic airlines will no longer charge a heavy cancellation fee of Rs 3,000. Instead of a flat amount, now, flyers have to pay “Rs 3,000 or base fare plus fuel surcharge per passenger, whichever is lower.
11: 00 am: India’s sugar production rose 30% to 69.4 lakh tonne during the first two and half months of the current marketing year on higher cane output, according to industry body ISMA.
10:30 am: MCX crude oil trades 0.22 percent up at Rs 3,688 per barrel.
10: 07 am: Axis Bank completed largest fund infusion in the domestic banking sector through the private equity route, totaling Rs 11,626 crore, of which private equity major Bain Capital and a clutch of affiliated entities pumped in a whopping Rs 6,854 crore.
10:05 am: HDFC Bank has issued 3 lakh instant credit cards within a year of its launch. Launched in January this year, InstaCard is delivered to customers within an hour of applying for a credit card Read More.