Nifty, Sensex End At Day's Highs - ICICI Bank Leads Advance; FPIs Stay Net Buyers
The Sensex closed 659.31 points, or 1.12%, higher at 59,688.22. The Nifty 50 closed up 1% at 17,798.75.
Foreign Investors Net Buyers
Overseas investors remained net buyers for the third straight day on Thursday.
The longest buying stretch by FPIs, this year so far, lasted 13 days from July 28 to August 17.
As per data from the National Stock Exchange, foreign portfolio investors net bought equities worth Rs 2,913.09 crore today.
Domestic institutional investors turned net sellers and sold equities worth Rs 212.61 crore today.
Institutions have net bought Rs 2,802.99 crore worth of equities this month so far and have net sold Rs 30,680.09 crore worth of Indian equities till date in 2022.
Closing Bell: Nifty, Sensex End At Day's Highs; ICICI Bank Leads Advance
India’s stock benchmarks closed higher in trading session on Thursday aided by banking and IT stocks.
The Sensex closed 659.31 points, or 1.12%, higher at 59,688.22. The Nifty 50 closed up 1% at 17,798.75.
Of the Nifty 50 constituents, 16 stocks fell and 33 rose, while one remained unchanged.
Axis Bank Ltd., ICICI Bank Ltd., State Bank of India Ltd., Bajaj Finserv Ltd. and Baja Finance Ltd. were the top gainers, while ICICI Lombard General Insurance Co., REC Ltd. , Power Finance Corp., SBI Life Insurance Co. and ICICI Prudential Life Insurance Co. were the top laggards.
The Midcap and Smallcap index underperformed its larger peers with the Midcap gauge gaining 0. 3% and the Smallcap gaining 0.6%.
Fourteen of the 19 sectoral indices compiled by BSE Ltd. gained, with banking and IT indexes increasing 1.9% and 1%, respectively.
The market breadth was skewed in favour of the bulls. About 2,065 stocks rose, 1,401 fell and 123 remained unchanged.
NMDC Sets Lump Ore Prices At Rs 4,100 Per Ton, Fines At Rs 2,910 Per Ton
NMDC has fixed the price of lump iron ore at Rs 4,100 per ton with effect from Sept. 8.
The company has set the prices for fines at Rs 2,910 per ton starting Sept. 8.
Websol Energy Systems Enters Pact To Set Up Joint Venture To Manufacture Solar Cells
Websol Energy inked a term sheet with AMP Energy India Pvt. to establish a joint venture to manufacture and produce up to 1.2 GW monocrystalline PERC (Passivated Emitter and Rear Cell) solar cells and modules.
The solar cells and modules will be produced in two phases of 600 MW each at AMP Energy’s existing unit at Falta, West Bengal.
Websol plans to hold 51% of the stake in the joint venture, while AMP Energy will own the remaining 49%.
The project will be funded through a combination of debt and equity. It will include an off take agreement with AMP Energy India for up to 50% production.
Tanla Platforms Shares Hit Upper Circuit On Share Buyback Proposal
Shares of Tanla Platforms Ltd. gained 5% and hit upper circuit after the company's board approved share buyback of Rs 170 crore.
The company will buy back shares at Rs 1,200 apiece. The resultant shares to be bought back at the offer price are 14,16,666 shares, representing 1.04% of total paid-up equity.
Further, the company said the offer price represents premium of 66.39% and 66.27% over the closing price on the NSE and BSE respectively, on Sept. 1.
