Quick Peek
Home >> Markets >> Equity >> News >> Quick Peek Detailed News
Market logs small gains
(15:46, 11 Jun 2018)

Key benchmark indices logged small gains on first trading day of the week . The barometer index, the S&P BSE Sensex, rose 39.80 points or 0.11% at 35,483.47, as per the provisional closing data. The Nifty 50 index rose 19.30 points or 0.18% at 10,786.95, as per the provisional closing data. Traders and investors are closely awaiting a series of domestic and global events this week.

Trading for the week began on upbeat note as the key benchmark indices drifted higher in early trade. Stocks extended early gains in morning trade. Stocks held firm in mid-morning trade on sustained buying demand in index pivotals. Firmness prevailed on the bourses in afternoon trade. Stocks hit fresh intraday high in mid-afternoon trade. Indices trimmed gains in late trade.

The S&P BSE Mid-Cap index fell 0.09%, underperforming the Sensex. The S&P BSE Small-Cap index rose 0.51%, outperforming the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,518 shares rose and 1,155 shares fell. A total of 159 shares were unchanged.

Bharti Airtel (up 3.19%), Sun Pharmaceutical Industries (up 1.29%) and Maruti Suzuki India (up 1%) edged higher from the Sensex pack.

Index heavyweight Reliance Industries (RIL) shed 0.1%. Reliance Brands, a subsidiary of the company, has purchased 100% stake in Rhea Retail (Rhea) for all cash consideration of Rs 203.46 crore. Rhea is in the business of selling of products in India for expectant mothers and in general merchandise for children. The announcement was made after market hours on Friday, 8 June 2018.

Rhea being in the retailing industry as Reliance Brands, the acquisition would result in significant synergies. Rhea was incorporated on 9 April 2007. The turnover of Rhea was Rs 200 crore in FY 2017-18, FY 2016-17 was Rs 200 crore and Rs 175 crore in FY 2015-16.

L&T slipped 0.07%. The company said that its construction arm L&T Construction has won orders worth Rs 2210 crore across two business segments. The Water & Effluent Treatment Business secured orders worth Rs 2044 crore and Heavy Civil Infrastructure Business secured orders worth Rs 166 crore. The announcement was made during market hours today, 11 June 2018.

IndusInd Bank rose 0.76%. The Reserve Bank of India (RBI) has allowed IndusInd Bank to incorporate a wholly-owned subsidiary for the amalgamation of micro-lender Bharat Financial Inclusion (BFIL) with the bank. The announcement was made after market hours on Friday, 8 June 2018.

Alembic Pharmaceuticals was locked in 20% upper circuit at Rs 521.80 after the company said it received US drug regulator's approval for Bupropion Hydrochloride tablets in strength of 75 and 100 milligrams. The announcement was made during trading hours today, 11 June 2018.

Alembic Pharmaceuticals announced that the company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Bupropion Hydrochloride tablets USP, 75 mg and 100 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Wellbutrin tablets, 75 mg and 100 mg, of GlaxoSmithKline LLC.

Bupropion Hydrochloride tablets USP, 75 mg and 100 mg is indicated for the treatment of major depressive disorder. Bupropion Hydrochloride tablets USP, 75 mg and 100 mg, have an estimated market size of $37 million for twelve months ending December 2017 according to IMS.

Overseas, European shares were trading higher ahead of a historic meeting between the US President and the North Korean leader. Asian stocks were mixed with limited fallout from a tumultuous G-7 meeting. Australia's markets are shut for a holiday. US stocks closed higher on Friday, 8 June 2018 as investors brushed aside tensions between the US and major allies.

Traders and investors are closely awaiting a series of domestic and global events this week. Consumer price index (CPI)-inflation and index of industrial production (IIP) data is due tomorrow, 12 June 2018 while the wholesale price index (WPI) inflation data will be announced on Thursday, 14 June 2018.

On the global front, US President Donald Trump and North Korean leader Kim Jong Un will meet for an historic summit in Singapore tomorrow, 12 June 2018. The meeting takes place after tensions emerged between Trump and Western allies in the aftermath of a G-7 meeting. Trump decided to reject the joint G-7 statement after comments from Canadian Prime Minister Justin Trudeau that Canadians would not be pushed around. The spat emerged due to different views on tariffs and world trade.

UK Prime Minister Theresa May faces votes that could derail her Brexit policy tomorrow, 12 June 2018. The US Federal Reserve is expected to raise interest rates Wednesday, 13 June 2018 as the US economy remains solid. European Central Bank rates decision on Thursday, 14 June 2018 and briefing with President Mario Draghi. Bank of Japan June monetary policy decision and news conference will follow on Friday, 15 June 2018.

Powered by Capital Market - Live News

Adani Ports & Special Economic Zone Ltd     373.15   Down   -4.00 (-1.06%)   Asian Paints Ltd     1,395.10   Down   -4.15 (-0.30%)   Axis Bank Ltd     618.05   Up   13.15 (2.17%)   Bajaj Auto Ltd     2,646.40   Up   15.55 (0.59%)   Bajaj Finance Ltd     2,830.20   Up   69.80 (2.53%)   Bajaj Finserv Ltd     7,112.70   Up   167.25 (2.41%)   Bharat Petroleum Corporation Ltd     376.65   Down   -3.05 (-0.80%)   Bharti Airtel Ltd     367.00   Down   -3.15 (-0.85%)   Bharti Infratel Ltd     283.90   Down   -1.35 (-0.47%)   Cipla Ltd     642.75   Up   14.45 (2.30%)   Coal India Ltd     282.65   Up   3.60 (1.29%)   Dr Reddys Laboratories Ltd     2,278.45   Up   36.85 (1.64%)   Eicher Motors Ltd     28,992.35   Up   585.75 (2.06%)   GAIL (India) Ltd     379.80   Up   4.35 (1.16%)   Grasim Industries Ltd     986.60   Down   -0.25 (-0.03%)   HCL Technologies Ltd     999.70   Up   16.70 (1.70%)   HDFC Bank Ltd     2,089.10   Down   -2.55 (-0.12%)   Hero Honda Motors Ltd     3,266.35   Down   -41.85 (-1.27%)   Hindalco Industries Ltd     221.45   Down   -0.20 (-0.09%)   Hindustan Petroleum Corporation Ltd     270.05   Down   -3.05 (-1.12%)   Hindustan Unilever Ltd     1,744.25   Up   15.40 (0.89%)   Housing Development Finance Corporation Ltd     1,941.50   Down   -5.50 (-0.28%)   ICICI Bank Ltd     332.45   Up   7.55 (2.32%)   Indiabulls Housing Finance Ltd     1,291.05   Up   14.55 (1.14%)   Indian Oil Corporation Ltd     160.70   Up   0.05 (0.03%)   IndusInd Bank Ltd     1,997.60   Up   3.70 (0.19%)   Infosys Technologies Ltd     1,408.30   Down   -0.45 (-0.03%)   ITC Ltd     307.90   Up   1.95 (0.64%)   Kotak Mahindra Bank Ltd     1,293.00   Up   5.85 (0.45%)   Larsen & Toubro Ltd     1,253.25   Down   -15.80 (-1.25%)   Lupin Ltd     836.75   Up   24.80 (3.05%)   Mahindra & Mahindra Ltd     950.45   Down   -4.05 (-0.42%)   Maruti Suzuki India Ltd     9,132.60   Up   51.75 (0.57%)   NIFTY (S&P CNX)     11,435.10   Up   79.35 (0.70%)   NTPC Ltd     156.90   Down   -1.10 (-0.70%)   Oil & Natural Gas Corpn Ltd     166.25   Up   0.20 (0.12%)   Power Grid Corporation of India Ltd     187.90   Down   -0.10 (-0.05%)   Reliance Industries Ltd     1,210.60   Up   22.90 (1.93%)   State Bank of India     294.90   Up   0.75 (0.25%)   Sun Pharmaceuticals Industries Ltd     601.80   Up   37.90 (6.72%)   Tata Consultancy Services Ltd     2,003.55   Up   3.40 (0.17%)   Tata Motors Ltd     248.80   Up   0.10 (0.04%)   Tata Steel Ltd     578.95   Up   10.15 (1.78%)   Tech Mahindra Ltd     672.80   Up   12.85 (1.95%)   Titan Company Ltd     925.60   Up   11.95 (1.31%)   UltraTech Cement Ltd     4,299.10   Up   104.90 (2.50%)   UPL Ltd     610.45   Down   -14.95 (-2.39%)   Vedanta Ltd     215.10   Down   -1.20 (-0.55%)   Wipro Ltd     285.05   Up   3.20 (1.14%)   Yes Bank Ltd     382.50   Up   11.80 (3.18%)   Zee Entertainment Enterprises Ltd     513.95   Up   7.50 (1.48%)      NSE Data  -  www.nseindia.com (5 minutes delayed) syndicated by www.cmots.com