Sensex, Nifty at day's high; Cipla, TCS stocks gain

Benchmark equity indices recouped all the losses, with the Nifty reclaiming 10,500 mark backed by HDFC twins and ITC.

Apr 16, 2018 09:04 IST India Infoline News Service

Benchmark equity indices recouped all the losses, with the Nifty reclaiming 10,500 mark backed by HDFC twins and ITC.
On the economy front, Inflation measured by the Wholesale Price Index stood at 2.47% last month, compared with 2.48% in February.

At 2:44 PM, the BSE Sensex was trading at 34,290, up 97 points, while the Nifty50 index was trading at 10,523, up 42 points.

The BSE Midcap and the BSE Smallcap indices were fell by 0.12% and 0.04%, respectively.

The downtrend was led by index heavyweight Infosys, which slipped 3% after its FY19 growth outlook disappointed the street.

Shares of UCO Bank plunged 8% on the BSE after the media report suggested that the Central Bureau of Investigation (CBI) has booked former chairman-cum-managing director of the bank’s Arun Kaul and others in connection with an alleged Rs621cr loan fraud.

Fortis Healthcare stock fell 1% after it confirmed getting interest from IHH Healthcare Bhd.

Gruh Finance gained 5% after the board also recommended a dividend of Rs3.30 per equity share of face value of Rs2 each for the financial year ended March 31, 2018.

Among BSE sectoral indices, IT index fell the most by 1.03%, followed by TECk 0.9%, oil & gas 0.6% and consumer durables 0.3%.

On the other hand, healthcare index gained 0.75%, FMCG 0.49%, realty 0.4% and capital goods 0.36%.

Volatility index India VIX was up 4.45% at 14.7700.

Cipla (+3.7%), Grasim (+2.7%), Lupin (+1.8%), Tech Mahindra (+1.6%) and Indiabulls HF (+1.5%) were the top gainers on the NSE.

Tata Motors (-4.6%), Infosys (-3.6%), Axis Bank (-1.5%), HPCL (-1.3%) and Titan (-1.2%) were the top losers on the NSE.

Out of 2,048 stocks traded on the NSE, 639 advanced, 1,037 declined and 372 remained unchanged today.

A total of 30 stocks registered a fresh 52-week high in trade today, while 25 stocks touched a new 52-week low on the NSE.

The rupee fell 20 paise against the US dollar in early trade on global trade war concerns, dip in March exports and a sharp drop in domestic equities.

Asian indices opened with weakness which got bought into as no further escalation in the middle east saw value buying emerge. The historical evidence suggests geopolitical risk as an excellent opportunity 'to buy the fear' as near term weakness see long term gains.

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