Scan to Download
In what turned out to be a lacklustre day of trade before the Indian equities take a two-day holiday break, the benchmark indices remained largely rangebound but managed to eke out gains.
Both S&P BSE Sensex as well as the NSE Nifty gained 0.1 percent to close at 28,082 and 8,708 respectively. Gains were seen across Metals, Cement and Pharma sector. While Tata Steel (Up 3.1 percent) was the top gainer on the Nifty, Bharti Airtel was on the other end of the spectrum, ending lower by 1.22 percent.
In what turned out to be a lacklustre day of trade before the Indian equities take a two-day holiday break, the benchmark indices remained largely rangebound but managed to eke out gains.
Both S&P BSE Sensex as well as the NSE Nifty gained 0.1 percent to close at 28,082 and 8,708 respectively. Gains were seen across Metals, Cement and Pharma sector. While Tata Steel (Up 3.1 percent) was the top gainer on the Nifty, Bharti Airtel was on the other end of the spectrum, ending lower by 1.22 percent.
Global sales of Tata Motors Ltd., including the Jaguar Land Rover increased 5 percent compared to 1,02,289 units, compared to last year. While global passenger vehicle sales for September grew 7 percent to 67,985 units, global wholesales for Jaguar Land Rover were at 52,914 vehicles.
As of 2.10 p.m., shares of Tata Motors Ltd. were trading lower by 0.2 percent at Rs 564.85 per share.
Paper stocks continued to gain with stocks like Tamil Nadu Newsprint Ltd. reaching a fresh 52-week high of Rs 374.80. Here are some of the buzzing paper stocks:
Cement stocks were trading with gains with stocks like JK Cement Ltd. and India Cements Ltd. scaling fresh 52-week highs. Here are some buzzing stocks:
Three stocks from the Tata group were trading at their 52-week highs as of 10:45 a.m. Shares of Tata Steel Ltd. gained 2.5 percent to Rs 418.30 after the Sunday Times reported that the company may be close to striking a pension deal in the U.K., which could pave the way for the merger of its European arm with Germany’s ThyssenKrupp.
Shares of Tata Communications Ltd. too scaled a 52-week high, gaining 4.7 percent to Rs 641.50 while Tata Power Ltd. gained 0.8 percent to Rs 82.
Three stocks from the Tata group were trading at their 52-week highs as of 10:45 a.m. Shares of Tata Steel Ltd. gained 2.5 percent to Rs 418.30 after the Sunday Times reported that the company may be close to striking a pension deal in the U.K., which could pave the way for the merger of its European arm with Germany’s ThyssenKrupp.
Shares of Tata Communications Ltd. too scaled a 52-week high, gaining 4.7 percent to Rs 641.50 while Tata Power Ltd. gained 0.8 percent to Rs 82.
 2016-10-10 10-43-59.png - 2.png)
CBI files case against Repco Housing Finance chief, conducts raids https://t.co/jn6gBR4Snj pic.twitter.com/hbpopmYrU7
— BloombergQuint (@BloombergQuint) October 10, 2016
Shares of Chennai-based housing finance company Repco Home Finance Ltd. slumped as much as 6.92 percent to Rs 763 after Press Trust of India reported that the Central Bureau of Investigation (CBI) searched the residences and offices of various senior officials of the company including the managing director, for allegedly favouring certain customers.
Indian equities snapped a three-day losing streak, opening with gains of 0.5 percent. The S&P BSE Sensex gained 110 points to 28,176 while the NSE Nifty gained 0.4 percent to 8,733.
Tata group stocks led the gains on the Nifty with Tata Power Ltd., Tata Motors DVR and Tata Steel Ltd. among the top five Nifty gainers.
Indian equities snapped a three-day losing streak, opening with gains of 0.5 percent. The S&P BSE Sensex gained 110 points to 28,176 while the NSE Nifty gained 0.4 percent to 8,733.
Tata group stocks led the gains on the Nifty with Tata Power Ltd., Tata Motors DVR and Tata Steel Ltd. among the top five Nifty gainers.
For all the stocks to watch out for, click HERE!
RBI rate cut bets = bond rush!https://t.co/JhBAddPcyC pic.twitter.com/1jJepVOmVz
— BloombergQuint (@BloombergQuint) October 8, 2016
The Nifty Futures on the Singapore Exchange, an early indicator of Nifty performance in India, are trading with gains at 8,744.
It was tepid start to the week for Asian markets, on the back of muted cues from Wall Street on Friday. Markets in Japan, Taiwan and Hong Kong are shut today, while the Chinese markets resumed trade after a week-long holiday.
U.S. jobs data came in below estimates on Friday but ‘strong enough’ for the Federal Reserve to raise interest rates in December. The unemployment rate stayed at the 5 percent mark, with 7.9 million people in the U.S. remaining unemployed. The odds for a December rate hike from the U.S. Federal Reserve inched higher to 64 percent, according to future rates tracked by Bloomberg.
U.S. stock market investors have put December 14 firmly in their crosshairs. https://t.co/8w2ZWwPOr9 @ALJax7 pic.twitter.com/n7CQqEmymQ
— BloombergQuint (@BloombergQuint) October 8, 2016
Oil extended losses below $50 per barrel after U.S. drillers added rigs for the sixth straight week to the highest level since February, and Russia cast doubts over any deal between members of the OPEC (Organization of the Petroleum Exporting Countries) over output cuts.
West Texas Intermediate crude for November delivery traded lower by one percent at $49.34 per barrel. Oil rallied almost ten percent since the OPEC members agreed to cut output to stabilize prices late in September.
Also Read: Dimon, Cohn Say Global Monetary Policy Becoming Less Effective
Also Read: Sunil Bharti Mittal Sees The World Heading Towards ‘Jobless Growth’
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
