Live Stock Market Updates - Sensex rallies over 350 points; Metal, Auto stocks lead

The NSE Nifty closed with a gain of 127 points at 8,738. The NSE Nifty opened at 8,666 hitting a high of 8,745 and low of 8,635.

Oct 03, 2016 03:10 IST India Infoline News Service

Stock Market Jump
Closing Bell:
Finally, the BSE Sensex ended with a gain of 377 points at 28,243. The BSE Sensex opened at 27,997 touched an intra-day high of 28,273 and low of 27,920.

The NSE Nifty closed with a gain of 127 points at 8,738. The NSE Nifty opened at 8,666 hitting a high of 8,745 and low of 8,635.

Among the 50 stocks of the Nifty, Zee, Eicher Motors, Maruti Suzuki, Hero MotoCorp, Power Grid, Adani Ports and Asian Paints were among the gainers, whereas TCS, Bharti Infratel and Bosch were among the losers today.

Live Market:

The India equity market opened higher on Monday on supportive global cues. The domestic market makes a sharp move after Pakistan PM Advisor confirms that India & Pakistan has decided to reduce tensions, as per TV report. 

The domestic market extended gains for the second day on optimistic buying ahead of the RBI policy review on Tuesday amid a firming rupee. The market are trading near day’s high led by strong gains among rate-sensitive sectors like auto, financials and realty.

The Nikkei Markit India Manufacturing Purchasing Managers' Index (PMI) a gauge of manufacturing performance settled at 52.1 in September, from 52.6 in August.

At 2:48 PM, the S&P BSE Sensex is trading at 28,248 up 382 points, while NSE Nifty is trading at 8,732 up 121 points.

The BSE Mid-cap Index is trading up 2.20% at 13,457 whereas BSE Small-cap Index is trading up 2.36% at 13,082.

Adani Ports, Maruti Suzuki, M&M, Hero MotoCorp and Asian Paints are among the gainers, whereas TCS, Infosys, HUL, ICICI Bank and Wipro are losing sheen on BSE.

Some buying activity is seen in realty, auto, media, capital goods, metal and pharma sectors, while IT is showing weakness on NSE.

The INDIA VIX is down 5.54% at 16.2775. Out of 1,871 stocks traded on the NSE, 212 declined, 1,394 advanced and 265 remained unchanged today.

A total of 55 stocks registered a fresh 52-week high in trades today, while 15 stocks touched a new 52-week low on the NSE.

Adani Ports zoomed 3% to Rs.264.55 on the BSE. The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can under the Portfolio Investment Scheme (PIS) now invest upto 49% of the paid up capital of Adani Ports and Special Economic Zone Limited. The purchases could be made through primary market and stock exchanges.

MRF Ltd is currently trading at Rs. 51339, up by Rs. 401.65 or 0.79% from its previous closing of Rs. 50937.35 on the BSE. The scrip opened at Rs. 51451 and has touched a high and low of Rs. 52350 and Rs. 51300 respectively. So far 10942(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 21597.44 crore.

Tata Consultancy Services Ltd is currently trading at Rs. 2405.25, down by Rs. 21.95 or 0.9% from its previous closing of Rs. 2427.2 on the BSE. The scrip opened at Rs. 2440 and has touched a high and low of Rs. 2455 and Rs. 2401.5 respectively. So far 293932(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 478262.27 crore.

Kotak Mahindra Bank inched up 1%. The bank said it will acquire a 99.49% stake in BSS Microfinance Pvt. Ltd for Rs.139.2 crore.

Tata Motors advanced 1.6% after the company is planning to increase prices of its passenger vehicles during the ongoing festive season to offset rising input cost. Tata Motors passenger and commercial vehicle sales (including exports) in September 2016 were at 48,648 vehicles, a growth of 8%, over 45,215 vehicles sold in September 2015.

Maruti Suzuki climbed 3.7% to Rs.5,684.30 on the BSE. The auto company posted a 29.4% growth in domestic sales at 137321 units last month on account of demand in the ongoing festive season.

Reliance Industries Ltd is trading marginally higher at Rs.1,087 on the BSE. The oil ministry is set to ask Reliance Industries Ltd to pay the government over $1.3 billion for allegedly drawing about 8.9 billion cubic metres of gas that flowed into its deep-water block in the Krishna Godavari basin from the neighbouring field of ONGC, as per media reports.

Nalco advanced 1.7%. Nalco announced total dividend of 40% amounting to Rs.467.13 crore for 2015-16.

Vedanta gained 1.7%. Vedanta Resources has paid more than $2 billion (over Rs.13,300 crore) in taxes, royalties, license fees and other payments to India in the last financial year ended March 2016, as per media reports.

RBL Bank soared 2.2% after the bank has announced the acquisition of a 9.99% stake in Utkarsh Micro Finance Ltd in what is a strategic move to reach out to the unbanked and underbanked segments of society.

Ashok Leyland advanced 1.8%/. Ashok Leyland is gearing up for its solo journey in the light commercial vehicle (LCV) space after separation from partner Nissan with plans to introduce 8-10 products over the next 2-3 years that will entail an investment of up to Rs.400 crore.

GNFC inched up 1.5%. The company is partnering with Belgian firm Ecophos SA to set up a di-calcium phosphate plant at Dahej in Gujarat at an estimated cost of Rs.526 crore.

Eicher Motors gained 2.6% Eicher Motors motorcycle division has reported a 30% jump in total sales in September 2016 at 57,842 units, as against 44,491 units in the same month last year.

M&M jumped 2.6% after the company reported 8% increase in total sales at 46,130 units in September. The company had sold 42,848 units in the same month last year, a company statement said.

Mahindra Holidays & Resorts India gained 2.2% after the company said it has inked a pact to acquire 12% stake in Nreach Online Services. 

The rupee opened higher eight paise at 66.54/$ against US Dollar Monday as against the previous close of 66.62/$.

Asian markets opened mixed on Monday. Nikkei 225 and Hang Seng gained over 1% each, while Shanghai Composite is trading marginally higher.

Wall Street closed higher on Friday. The Dow Jones industrial average rose 0.91% to close at 18,308.15 points. The S&P 500 gained 0.80% and the Nasdaq advanced 0.81% to close at 5,312 points.

Combined market valuation of nine of the top 10 most valued Indian companies plummeted by Rs 57,065.11 crore during the week that ended on September 30. ITC's valuation plunged by Rs 14,883.32 crore to Rs 2,92,281.77 crore.

On the economy front, Fiscal deficit in the first five months of the current fiscal stood at Rs. 4.08trn, which was 76.4% of Budget estimates for 2016-17. India's eight core industries, which have a weight of 37.90 percent in the Index of Industrial Production (IIP), grew by 3.2 percent in August, 2016 as compared to the same monthof the previous year.

The monetary policy committee (MPC) meets today and tomorrow and the new RBI governor will announce the policy post lunch tomorrow. The dollar is firming up while the sterling hit over a month-low after Britain set a March deadline for Brexit.

Market participants are anxiously awaiting the Monetary Policy Review on October 4, the first to be held under the newly appointed RBI Governor Urjit Patel and the first to be decided by a six-member panel.

On the global front, the US non farm payrolls report for September would come on Friday.

India's foreign exchange reserves increased by $1.2 billion to $371 billion in the week ended September 23, the Reserve Bank of India said.

India’s largest-ever spectrum auction kicked off with major telecom operators placing bids worth Rs. 535.31 bn across bands, even as the premium 700Mhz and 900Mhz frequencies did not find any buyer.

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