Friday, 29 September 2017

State Bank Of India Has Cut The Interest Rate For One Year Deposits

State Bank of India has cut the interest rate for one year deposits by 25 basis points for both general public and senior citizens.

In an interview to CNBC-TV18, Rajnish Kumar, Managing Director of State Bank of India said the bank had Rs 25 lakh crore of deposit and one year deposit would be Rs 3 lakh crore.

On lending front, he said bank's market share was around 21-21.5 percent, so to that extent the bank was able to protect market share.

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Equity Benchmarks Started Off October Series On A Positive Note

Equity benchmarks started off October series on a positive note, with the Nifty reclaiming 9800 level.

The 30-share BSE Sensex was up 97.09 points at 31,379.57 and the 50-share NSE Nifty gained 39.30 points at 9,808.25.

GAIL surged 6 percent after Petroleum & Natural Gas Regulatory Board Of India has floated consultation paper w.r.t unified tariff for company’s pipelines Rs 57 per mmbtu.

Bharti Airtel, HUL, NTPC and Tech Mahindra were mildly lower. Nifty Midcap was up 0.7 percent.

Lovabale Lingerie rallied 13 percent ahead of board meeting to consider buyback of shares.

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Thursday, 28 September 2017

The Rupee Took More Blows Today As It Slipped 16 Paise

The rupee took more blows today as it slipped 16 paise to a fresh six and a half month low of 65.88 against the dollar that gained clout overseas on talk of a US rate hike and the prospect of monetary stimulus pullout.

The US Fed's policy decision and commentary led to foreign investors heading to the exit door here.

Month-end demand from importers for the US currency is at work, forex dealers said.

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Equity Benchmarks Opened Marginally Lower On The Day Of Expiry

Equity benchmarks opened marginally lower on the day of expiry of September derivative contracts.

The 30-share BSE Sensex was down 36.73 points at 31,123.08 and the 50-share NSE Nifty fell 12.25 points to 9,723.50.

ONGC, Aurobindo Pharma, Bharti Infratel and Dr Reddy's Labs were early losers while Tech Mahindra, Wipro, TCS, HCL Technologies and Axis Bank were early gainers.

Nifty Midcap was down 0.14 percent.

In broader space, Ipca Labs, DHFL, Reliance Home Finance, ICICI Lombard General and Titan Company were under pressure.

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Wednesday, 27 September 2017

ICICI Lombard General Insurance Company Is Set To Debut On The Bourses Today

ICICI Lombard General Insurance Company is set to debut on the bourses today. It has set final issue price at Rs 661 per share, the higher end of price band.

Analysts don't expect strong listing gains as the initial share sale offer that ended last week was oversubscribed 3 times. In addition, equity markets have been subdued from last week, they said.

The reserved portion of qualified institutional investors has oversubscribed 8.17 times while the retail category showed a subscription of 1.22 times and non-institutional investors 0.82 times.

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Equity Benchmarks Opened Mildly Higher Amid Volatility On Wednesday

Equity benchmarks opened mildly higher amid volatility on Wednesday, ahead of expiry of September derivative contracts tomorrow.

The 30-share BSE Sensex was up 37.18 points at 31,636.94 and the 50-share NSE Nifty rose 5 points to 9,876.50.

About four shares advanced for every share falling on the BSE.

Sun Pharma lost 2 percent post AGM. Divis Labs fell 7 percent on USFDA observations for unit 2. Dr Reddy's Labs was also under pressure.

The Nifty Midcap was up 0.4 percent on positive breadth.

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Tuesday, 26 September 2017

Equity Benchmarks Opened Flat On Tuesday After Witnessing Sharp

Equity benchmarks opened flat on Tuesday after witnessing sharp fall in previous two sessions, and ahead of expiry of September derivative contracts.

The 30-share BSE Sensex was down 8.55 points at 31618.08 and the 50-share NSE Nifty gained 6.90 points at 9,879.50.

Lupin, ONGC, Power Grid and Sun Pharma were early gainers.

Nifty Midcap was up 0.1 percent. Jet Airways, InterGlobe Aviation, SpiceJet, JK Paper and Alkem Labs were down up to 4 percent while REC, Adani Transmission, Avenue Supermarts, Shoppers Stop and DHFL gained 1-6 percent.

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Asia Markets Slip After North Korea Accuses Trump Of Declaring War

Asian markets were pressured in early Tuesday trade, following declines on Wall Street overnight, as the war of words between North Korea and the US escalated.

Japan's Nikkei 225 sank 0.28 percent in early trade after the yen strengthened overnight as investors focused on North Korea.

Across the Korean Strait, the Kospi declined 0.32 percent as blue chip tech stocks sold off following Wall Street's lead. Samsung Electronics was down 1.49 percent, SK Hynix tumbled 2.2 percent and LG Electronics was fell 3.2 percent.

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Monday, 25 September 2017

Equity Benchmarks Started Off The Week On A Negative Note

Equity benchmarks started off the week on a negative note, with the Sensex falling more than 100 points, weighed by HDFC twins.

The 30-share BSE Sensex was down 156.59 points at 31,765.85 and the 50-share NSE Nifty fell 41.35 points to 9,923.

Nifty Midcap was down 0.8 percent as about 596 shares declined against advancing 423 shares on the BSE.The Indian rupee opened lower by 5 paise at 64.84 per dollar today versus Friday's closing value of 64.79 per dollar.

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Cadila Healthcare Falls Over 3% On Ratings Downgrade To ‘Reduce’

Shares of Cadila Healthcare fell over 3.5 percent intraday on Monday as investors turned wary of the stock following a ratings downgrade. A weakness in the overall pharmaceutical space also spilled over to the stock.

Broking firm IIFL downgraded its rating on the stock to reduce from add along with a reduction in the target price to Rs 400 from Rs 460, implying a downside of around 13 percent.

The firm said that Cadila’s stock was already pricing in an upside from big launches. However, its valuations were stretched and at a significant premium compared to its large peers.


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Friday, 22 September 2017

Equity Benchmarks Fell Further In Morning Trade As The Sensex Dropped

Equity benchmarks fell further in morning trade as the Sensex dropped 255.39 points to 32,114.65 following North Korea threat.

The Nifty has broken the 10,050 level, down 88.25 points at 10,033.65.

About three shares declined for every share rising on the BSE.

Asian markets like Hong Kong's Hang Seng, Japan's Nikki, China's Shanghai Composite and South Korea's Kospi were down 0.3-0.8 percent.

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The SEC Disclosed On Wednesday That EDGAR

The SEC disclosed on Wednesday that EDGAR, its corporate filing system, was hacked in 2016 and information was potentially used for illegal stock trades.

EDGAR is where Corporate America goes to file statements on their businesses. Brad Bondi, an attorney with Cahill Gordon and Reindel and former council at the SEC, called it "the Fort Knox" of the SEC.

It's where the important stuff is stored: quarterly earnings reports, market-moving news, IPOs, mergers and acquisitions, it all goes into the EDGAR system, and is often filed before the news is made public.

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Thursday, 21 September 2017

Nifty Midcap Was Up 0.12 Percent On Positive Breadth

Nifty Midcap was up 0.12 percent on positive breadth. About two shares advanced for every share falling on the NSE.

Novartis India, Om Metal Infra, Den Networks, MEP Infra, Bombay Dyeing, ITDC, Munjal Auto, Goa Carbon, Kamat Hotels and Shoppers Stop rallied 2-16 percent.

Reliance Capital fell a percent ahead of Reliance Home Finance listing tomorrow.

Shares of OM Metals Infraprojects touched 52-week high of Rs 80.50, adding more than 18 percent intraday on the back of share acquisition by Porinju's firm Equity Intelligence.

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Equity Benchmarks Opened Marginally Higher On Thursday

Equity benchmarks opened marginally higher on Thursday after Federal Reserve monetary policy meeting.

The 30-share BSE Sensex was up 42.42 points at 32,442.93 and the 50-share NSE Nifty rose 10.95 points to 10,152.10.

Tata Steel, Dr Reddy's Labs, Sun Pharma, Lupin, Hindalco, Infosys, HCL Technologies and Reliance Industries gained up to 2 percent.

TCS, Bank of Baroda, ICICI Bank and Ambuja Cements were under pressure in early trade.

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Wednesday, 20 September 2017

Bharti, Idea, RComm Fall 4-7% As TRAI Halves Mobile Call Connect Charge

Bharti Airtel share price plunged as much as 6.2 percent, Reliance Communications lost 4.2 percent and Idea Cellular cracked 7.4 percent but Reliance Industries hit a fresh record high of Rs 872.10 up 3.8 percent.

The Telecom Regulatory Authority of India on Tuesday slashed connection charge for all mobile to mobile calls to 6 paise per minute from 14 paise. The revised charge, effective October 1, will be reduced to zero from January 1, 2020.

For calls between landlines, between mobiles and landlines and vice versa, this charge will continue to be nil.

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Asia Markets Tread Water As Investors Await News From The Fed

Asian shares edged down slightly on Wednesday as investors awaited monetary policy news coming at the conclusion of the US Federal Reserve's two-day meeting.

Japan's Nikkei 225 slid 0.05 percent after surging close to 2 percent on Tuesday.

Across the Korean Strait, the Kospi slipped 0.07 percent. Gains in automakers were offset by losses in tech stocks and retailers: Hyundai Motor rose 1.07 percent, Samsung Electronics shed 0.15 percent and Lotte Shopping fell 3.03 percent in early trade.

Down Under, the S&P/ASX 200 lost 0.35 percent, with the telecommunications services sub-index falling 0.99 percent. Financials were also pressured, with the sub-index edging down 0.57 percent.

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Friday, 15 September 2017

ICICI Lombard General Insurance's Rs 5,700 Crore IPO Opened

ICICI Lombard General Insurance's Rs 5,700-crore IPO opened for subscription today, with a price band of Rs 651-661 per share.

The company raised Rs 1,624.77 crore by allotting 2.45 crore shares to 64 anchor investors at the upper band of Rs 661 apiece.

The issue will close on September 19.

ICICI Lombard General Insurance is a joint venture between ICICI Bank and Canadian NRI Prem Watsa-promoted Fairfax Financial Holdings.

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Equity Benchmarks Started Off Last Day Of The Week On A Negative Note

Equity benchmarks started off last day of the week on a negative note, tracking weakness in Asia post North Korea launched a missile that flew over Japan.

The 30-share BSE Sensex was down 28.52 points at 32,213.41 and the 50-share NSE Nifty fell 13.70 points to 10,072.90.

Tata Steel, Vedanta, Sun Pharma, Lupin and Indiabulls Housing were under pressure. BHEL gave up yesterday's gains, down nearly 3 percent.

In broader space, Indiabulls Venturs, Sunil Hitech, Max Financial, SpiceJet, Bombay Dyeing, Liberty Shoes, Container Corporation, Avenue Supermarts and Future Retail rallied up to 6 percent.

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Thursday, 14 September 2017

Stock Has Been Consolidating In A Pennant Formation On Weekly Charts

Stock has been consolidating in a pennant formation on weekly charts. It is a bullish continuation pattern, suggesting upward continuation. The stock has broken out of the same, with surge in volumes. Momentum indication like the RSI, is in positive territory, indicating bullish biasness.

Stock is in a strong uptrend on long term charts. It formed descending triangle and gave upwards breakout on weekly charts. With the help of measurement rule, target comes around 1350. Volume outburst in daily charts indicates buying interest in the stock. With good risk to reward ratio investor as well as trader should buy the stock.

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Nifty Has Crucial Support At 10,000; 4 Stocks Which Can Give Up To 17% Return

The Nifty took resistance near its previous high of 10,137 on Wednesday. It lost all the shine and closed at 10,079.30 with loss of 13.75 points.

This week, Nifty showed strength after breaking above its strong resistance and psychological levels of 10,000 with good volumes.

We have witnessed a strong short covering in the index, which took it near its previous high of 10,137. Now, if index holds above 10,000, we may see more upside in the index but it still has to break above 10,137 convincingly.

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Wednesday, 13 September 2017

Jet Airways More Than Doubles Net Income At Rs 53.5 Crore In Q1

The second largest airline Jet Airways on Tuesday said its standalone net income more than doubled to Rs 53.5 crore in the three months to June against Rs 25.9 crore a year ago in spite of a large one-time provisioning of Rs 56.6 crore.

This is the ninth consecutive profitable quarter for the airline after the recovery driven by a rising market and a low fuel price regime since mid 2014.

Total income of the Naresh Goyal-promoted airline rose to Rs 5,953 crore from Rs 5,341 crore, an increase of 11.3 percent driven by increased load factor and an average rise in fares, which was also boosted by increased codeshares with international airlines.

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Asian Shares Inched Up To A 10 Year High On Wednesday

Asian shares inched up to a 10-year high on Wednesday, cheered by record highs on Wall Street, while the dollar's rise against the yen helped boost Japanese shares.

The S&P 500 , Dow Jones industrials and Nasdaq Composite all marked record finishes as investors' concerns faded about North Korean tensions as well as the impact of Hurricane Irma.

Gains were kept in check, however, by a decline in shares of Apple Inc after it unveiled its newest line of iPhones. Apple fell 0.6 percent but pared some losses in afterhours trade.

The new iPhone's sales will have repercussions beyond Apple for many suppliers as well as its rivals.

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Tuesday, 12 September 2017

Equity Benchmarks Opened Higher On Tuesday

Equity benchmarks opened higher on Tuesday, continuing uptrend for the second consecutive session.

The 30-share BSE Sensex reclaimed 32,000 level in early trade, up 118.77 points at 32000.93. The 50-share NSE Nifty rallied 27.35 points to 10,033.40.

The BSE Midcap and Smallcap indices gained half a percent each on positive breadth. About three shares advanced for every share falling on the BSE.

Tata Steel, Tata Motors, Tata Power, Sun Pharma, HUL, Reliance Industries, Larsen & Toubro, TCS, Lupin, Wipro and Vedanta gained up to 2 percent in early trade.

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Indian Rupee Opens Lower At 63.98 Per Dollar

The Indian rupee opened lower at 63.98 per dollar on Tuesday versus previous close 63.93.

Bhaskar Panda of HDFC Bank said, "Dollar had some respite as risk sentiment improved. We expect the USD-INR to remain rangebound within the 63.85-64.10 level for today."

He further added, "The 10-year benchmark bond yield is expected to trade within a range of 6.55-6.57 percent. The trend is up so we could see the yield moving towards 6.60 percent slowly.

"The dollar held to large gains following a sharp rebound against the yen and euro, lifted by improving investor risk sentiment as worries over North Korea and hurricane IRMA receded.

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Monday, 11 September 2017

Equity Benchmarks Started Off The Week On A Positive Note

Equity benchmarks started off the week on a positive note, after a consolidation seen in previous week.

The 30-share BSE Sensex was up 183.49 points at 31,871.01 and the 50-share NSE Nifty gained 51.50 points at 9,986.30.

Bank of Baroda, Tata Motors, IndusInd Bank, L&T, Tech Mahindra and Reliance Industries were early gainers while Vedanta, Tata Steel, Tata Power and Power Grid were early losers.

Nifty Midcap 100 and BSE Smallcap indices outperformed benchmarks, rising 0.7 percent each on strong breadth. About five shares advanced for every share falling on the BSE.

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Asian Shares Gain As Dollar Claws Back Losses And China Eases Some Yuan Trading Rules

Asian stocks rose on Monday as the dollar clawed back losses. Markets also digested headlines concerning developments out of the People's Bank of China and European Central Bank announced at the weekend.

The Nikkei 225 rallied 1.25 percent and South Korea's benchmark Kospi index tacked on 0.99 percent as geopolitical tensions eased on the Korean peninsula over the weekend.

The rally took place after no North Korean missile launches materialized on Sept. 9, the anniversary of the country's founding. There had been speculation in the lead up to the weekend that North Korea could conduct its next missile test then to celebrate the occasion.

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Friday, 8 September 2017

Equity Benchmarks Opened Last Day Of The Week On A Positive Note

Equity benchmarks opened last day of the week on a positive note amid consolidation, with the Nifty reclaiming 9,950 level.

The 30-share BSE Sensex was up 89.87 points at 31,752.61 and the 50-share NSE Nifty gained 23.75 points at 9,953.65.

Nifty Midcap hit record high. About 784 shares advanced against 247 declining shares on the BSE.

Future Market Networks, Future Enterprises and Future Consumer surged up to 10 percent.Apex Frozen Foods gained another 3.5 percent, rising since listing on Monday.

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Asian Shares Steady, Dollar Slumps On ECB's Tapering Signal

Asian shares edged up on Friday as investors kept a wary eye on another US storm, while the dollar skidded after European Central Bank chief Mario Draghi suggested the bank may begin tapering its massive stimulus programme this autumn.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1 percent, but was still down 0.2 percent for the week.

Japan's Nikkei stock index was pressured by a stronger yen and slipped 0.5 percent, losing 2 percent for the week.

Wall Street ended little changed on Thursday, as investors continued to tracking Hurricane Irma, which was bearing down on Florida on the heels of devastation in Texas caused by Hurricane Harvey.

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Thursday, 7 September 2017

Equity Benchmarks Rebounded In Opening Trade Thursday

Equity benchmarks rebounded in opening trade Thursday after sell-off in previous session, tracking positive global cues.

The 30-share BSE Sensex was up 110.97 points at 31,772.94 and the 50-share NSE Nifty rose 37.90 points to 9,954.10.

The broader markets outperformed benchmarks as the BSE Midcap and Smallcap indices gained 0.8 percent each. About five shares advanced for every share falling on the BSE.

Reliance Industries gained nearly 1 percent to hit 52-week high of Rs 832.70 after the stock adjusted for bonus issue in the proportion of one bonus share for every one share held.

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Nifty Likely To Face Resistance Around 10K; 4 Stocks Which Can Give Up To 20% Upside

The Nifty index managed to close above its triangle pattern which was broke in Friday’s session of last week. On Wednesday, index opened gap down but managed to close above 9,900 making strong support at 9,900-9,880.

Last week, the index managed to close above 9,950 and formed a ‘Hammer’ kind of candle pattern on the weekly charts. This week, Nifty again took resistance at 9,980 and due to the geopolitical concern we have seen selling pressure in the index.

For the coming sessions, the index has strong support near 9,880 followed by 9850 and breaking below 9,850 we may see more drag down in index up to 9,740.

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Wednesday, 6 September 2017

Infosys Will Announce Its Quarter And Half Year Ended September 30, 2017

Infosys will announce its quarter and half-year ended September 30, 2017 financial results on October 24, the company informed exchanges.

This will be a departure from the tradition where the IT bellwether is among the first companies to announce results in the second week of the month.

The board of directors will meet on October 23-24, 2017 and will also consider payment of an interim dividend. The software exporter will hold investor/analyst calls on October 24 to discuss the results and business outlook.

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Equity Benchmarks Opened Sharply Lower On Wednesday

Equity benchmarks opened sharply lower on Wednesday and erased all its previous day's gains, tracking weakness in global peers.

The 30-share BSE Sensex was down 201.91 points at 31,607.64 and the 50-share NSE Nifty fell 56.75 points to 9,895.45.

Nifty Midcap lost 0.7 percent as about three shares declined for every share rising.Bharat Financial Inclusion, Divis Labs, Adani Enterprises, JP Associates, Adani Power, HCC, Indiabulls Real, DLF, Idea Cellular, Escorts, Ujjivan Financial, M&M Financial, InterGlobe Aviation were down up to 3 percent. However, Just Dial rallied 5 percent as HDFC MF picked up stake in company.

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Tuesday, 5 September 2017

North Korea Remains A Concern For Markets; Gold Likely To Glitter More

The situation is similar across the world with equity markets both emerging and developed are trading at peak levels even as earnings have remained stagnant since 2011. Few countries like China, Japan are undervalued.

Hence, it is pertinent to worry about global risk factors in such a scenario. The risk of geopolitical disruptions and protectionism etc. remains.

Importantly, with volatility measures still very depressed, markets appear to be complacent. Clearly, there is a possibility of a correction if any of this event go out of hand.The possibility of USD regaining its recently lost strength or higher treasury yields can trigger the fear factor as well.

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Reliance Capital Shares Fall 17% As Home Finance Business Demerged

Reliance Capital shares fell more than 17 percent in opening trade Tuesday due to hiving off home finance business.

Today is the ex-date for demerger and the record date for the same is fixed as September 6, which means person who holds shares of Reliance Capital on September 6 will get shares of Reliance Home Finance.

Reliance Capital shareholders will receive one share of Reliance Home Finance for every share held. Post demerger, Reliance Capital will continue to hold a 51 percent stake in Reliance Home Finance.

Reliance Home Finance is expected to be listed in the second half of September.

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Monday, 4 September 2017

Coal India Shares Rallied Nearly 3 Percent Intraday After August Production

Coal India shares rallied nearly 3 percent intraday after August production and offtake data and the appointment of new CMD.

Coal production for the month of August stood at 37.63 million tonnes, which was ahead of company's target of 36.96 million tonnes, the country's largest coal miner said in its filing.

Even the offtake came in higher than its target at 43.75 million tonnes. The company had estimated offtake for August at 43.09 million tonnes.

This was provisional production and offtake performance of Coal India and its subsidiaries for August.

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The Rupee Firmed Up By 2 Paise To 64 Against The US Dollar

The rupee firmed up by 2 paise to 64 against the US dollar in morning on selling of the American currency by exporters and banks.

Besides, the dollar's weakness against other currencies overseas on renewed geopolitical tensions after North Korea's latest nuclear test yesterday and below expectations US jobs data for August gave the rupee strength, dealers said.

They said, however, a lower opening of the domestic equity markets, capped the gains.

The 30-share BSE Sensex was down 111.64 points at 31,780.59 and the 50-share NSE Nifty fell 31.60 points to 9,942.80.

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Friday, 1 September 2017

Sensex Up 100 Pts, Nifty Above 9950; Aditya Birla Capital Lists At Rs 237.50

Equity benchmarks extended gains in morning trade as the 30-share BSE Sensex was up 127.20 points at 31,857.69.

The 50-share NSE Nifty reclaimed 9,950, up 37.40 points at 9,955.30.

About 1,325 shares advanced against 426 advancing shares on the BSE.

Aditya Birla Capital listed at Rs 237.50 on the National Stock Exchange, which was 5 percent lower compared with pre-opening price of Rs 250.

In fact, the stock is locked at 5 percent lower circuit amid heavy volumes.

Grasim Industries gained 1.6 percent while Aditya Birla Money fell nearly 4 percent.


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The NSE Nifty Started Off September Series On A Flat Note On Friday

The NSE Nifty started off September series on a flat note on Friday but the broader markets outperformed, rising half a percent.

The 30-share BSE Sensex was up 25.19 points at 31,755.68 and the 50-share NSE Nifty rose 6.2 points to 9,924.10.

Bajaj Auto gained 2 percent on August sales data. Dr Reddy's Labs surges 6.5 percent on settlement for drug.

TCS, HCL Technologies, HDFC, NTPC, ITC and HUL were under pressure.

Nifty Midcap was up 0.5 percent as about four shares advanced for every share falling on the NSE.

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