Home Business Market Live: Sensex gains around 100 points, Nifty well above 10800; DRL up 2%

Market Live: Sensex gains around 100 points, Nifty well above 10800; DRL up 2%

18 min read



Jun 12, 11:53 AM (IST)


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Shares of Usha Martin touched 52-week high of Rs 33, rising 12 percent as company has decided to explore the sale of its steel business.

The company at its board meeting held on June 11 has decided to explore the sale of its steel business in order to achieve the objective of deleveraging the company.

The Board reconstituted the committee of independent directors of the company to appoint investment bankers, consultants and advisors to help evaluate proposals and oversee the process for sale of steel business of the company.

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Shares of Usha Martin touched 52-week high of Rs 33, rising 12 percent as company has decided to explore the sale of its steel business.

The company at its board meeting held on June 11 has decided to explore the sale of its steel business in order to achieve the objective of deleveraging the company.

The Board reconstituted the committee of independent directors of the company to appoint investment bankers, consultants and advisors to help evaluate proposals and oversee the process for sale of steel business of the company.



Jun 12, 11:20 AM (IST)


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Buzzing: Share price of Fortis Healthcare fell nearly 2 percent as company deferred the approval of quarterly and annual financial results for the period ended March 31, 2018.

The company on Monday deferred the announcement of its results for the March quarter to June 25, citing a need for additional time to consider certain aspects of the internal investigation report comprehensively in its financial accounts.

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Buzzing: Share price of Fortis Healthcare fell nearly 2 percent as company deferred the approval of quarterly and annual financial results for the period ended March 31, 2018.

The company on Monday deferred the announcement of its results for the March quarter to June 25, citing a need for additional time to consider certain aspects of the internal investigation report comprehensively in its financial accounts.



Jun 12, 11:05 AM (IST)



Jun 12, 10:45 AM (IST)


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Buying counters are buzzing on D-Street as the Sensex and Nifty have extended their gains. The 30-share index is trading up over 150 points, while the Nifty is up almost half a percent. It is continuing to hold 10,800-mark. Sectors such as banks, IT and energy names have picked up pace, while midcaps too have extended their gains. Among the index gainers are Dr Reddy’s Labs, Sun Pharma, and Lupin, while Tata Steel, Power Grid, and Grasim were the top losers. 

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Buying counters are buzzing on D-Street as the Sensex and Nifty have extended their gains. The 30-share index is trading up over 150 points, while the Nifty is up almost half a percent. It is continuing to hold 10,800-mark. Sectors such as banks, IT and energy names have picked up pace, while midcaps too have extended their gains. Among the index gainers are Dr Reddy’s Labs, Sun Pharma, and Lupin, while Tata Steel, Power Grid, and Grasim were the top losers. 



Jun 12, 10:12 AM (IST)


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Market Check: Indices have extended their gains from the opening minutes, with the Sensex rising over 100 points, while the Nifty is trading well above 10,800-mark.  

The Sensex is up 99.83 points or 0.28% at 35583.30, and the Nifty up 26.20 points or 0.24% at 10813.20. The market breadth is positive as 1109 shares advanced against a decline of 779 shares, while 104 shares were unchanged.

Dr Reddy’s, TCS and Lupin were the top gainers, while Tata Steel, Maruti Suzuki, and Hindalco lost the most. 

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Market Check: Indices have extended their gains from the opening minutes, with the Sensex rising over 100 points, while the Nifty is trading well above 10,800-mark.  

The Sensex is up 99.83 points or 0.28% at 35583.30, and the Nifty up 26.20 points or 0.24% at 10813.20. The market breadth is positive as 1109 shares advanced against a decline of 779 shares, while 104 shares were unchanged.

Dr Reddy’s, TCS and Lupin were the top gainers, while Tata Steel, Maruti Suzuki, and Hindalco lost the most. 



Jun 12, 10:04 AM (IST)



Jun 12, 10:01 AM (IST)


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Shares of Manappuram Finance gained over a percent in the morning trade as investors bet on the stock ahead of its Board Meeting.

The company’s Board will be meeting on June 14 in a bid to consider issuance of non-convertible debentures (NCDs) on a private placement basis.

It was in the news recently after it declared its financial results. The company reported a fall of 9.2 percent in its net profit at Rs 182.17 crore in the last quarter ended March 2018. The company had registered a net profit of Rs 200.58 crore in the same quarter of the preceding fiscal.

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Shares of Manappuram Finance gained over a percent in the morning trade as investors bet on the stock ahead of its Board Meeting.

The company’s Board will be meeting on June 14 in a bid to consider issuance of non-convertible debentures (NCDs) on a private placement basis.

It was in the news recently after it declared its financial results. The company reported a fall of 9.2 percent in its net profit at Rs 182.17 crore in the last quarter ended March 2018. The company had registered a net profit of Rs 200.58 crore in the same quarter of the preceding fiscal.



Jun 12, 09:34 AM (IST)


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The dollar jumped to a 3-week top on Tuesday while Asian shares started cautiously as investors were hopeful of a positive outcome from a highly anticipated US-Korea summit, which could set the stage for ending a nuclear stand-off on the Korean peninsula.

Japan's Nikkei climbed 0.8 percent to the highest in three weeks and South Korean shares added 0.1 percent. Australia's benchmark index was a tad firmer while New Zealand eased 0.3 percent .

That left MSCI's broadest index of Asia-Pacific shares outside Japan a touch softer at 573.31.

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The dollar jumped to a 3-week top on Tuesday while Asian shares started cautiously as investors were hopeful of a positive outcome from a highly anticipated US-Korea summit, which could set the stage for ending a nuclear stand-off on the Korean peninsula.

Japan's Nikkei climbed 0.8 percent to the highest in three weeks and South Korean shares added 0.1 percent. Australia's benchmark index was a tad firmer while New Zealand eased 0.3 percent .

That left MSCI's broadest index of Asia-Pacific shares outside Japan a touch softer at 573.31.



Jun 12, 09:19 AM (IST)


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Market Opens: Benchmark indices began trading on a mildly higher note, with the Nifty holding 10,800-mark in the opening tick 

The Sensex is up 43.18 points or 0.12% at 35526.65, while the Nifty is up 14.50 points or 0.13% at 10801.50. The market breadth is positive as 481 shares advanced, against a decline of 334 shares, while 68 shares were unchanged.

All sectoral indices are trading flat, with maximum gains visible in pharmaceutical names. Midcaps, too, are trading flat; Nifty Midcap index is up over one-tenth of a percent. 

Dr Reddy’s Labs, Wipro, and IOC were the top gainers, while Tata Steel, Infosys and UPL have lost the most. 

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Market Opens: Benchmark indices began trading on a mildly higher note, with the Nifty holding 10,800-mark in the opening tick 

The Sensex is up 43.18 points or 0.12% at 35526.65, while the Nifty is up 14.50 points or 0.13% at 10801.50. The market breadth is positive as 481 shares advanced, against a decline of 334 shares, while 68 shares were unchanged.

All sectoral indices are trading flat, with maximum gains visible in pharmaceutical names. Midcaps, too, are trading flat; Nifty Midcap index is up over one-tenth of a percent. 

Dr Reddy’s Labs, Wipro, and IOC were the top gainers, while Tata Steel, Infosys and UPL have lost the most. 



Jun 12, 09:07 AM (IST)


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Pre-opening: The benchmark indices are marginally higher in the pre-opening. The Sensex up 41.20 points at 35524.67, and the Nifty up 29.80 points at 10816.80.

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Pre-opening: The benchmark indices are marginally higher in the pre-opening. The Sensex up 41.20 points at 35524.67, and the Nifty up 29.80 points at 10816.80.



Jun 12, 09:02 AM (IST)


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Rupee Update: The Indian rupee opened marginally lower at 67.45 per dollar on Tuesday versus previous close 67.42.

In the last couple of session rupee has been consolidating in a narrow range of 64.40 and 64.75 ahead of important inflation and industrial production number. Market participants are cautious ahead of today’s inflation and IIP number; expectation is that inflation for May could rise to 4.8% compared to rise of 4.5% in the previous month, said Motilal Oswal.

On the other hand, industrial production could rise 5.2% in April compared to growth of 4.4% in the previous month. Today, USD-INR pair is expected to quote in the range of 67.45 and 67.85, it added.

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Rupee Update: The Indian rupee opened marginally lower at 67.45 per dollar on Tuesday versus previous close 67.42.

In the last couple of session rupee has been consolidating in a narrow range of 64.40 and 64.75 ahead of important inflation and industrial production number. Market participants are cautious ahead of today’s inflation and IIP number; expectation is that inflation for May could rise to 4.8% compared to rise of 4.5% in the previous month, said Motilal Oswal.

On the other hand, industrial production could rise 5.2% in April compared to growth of 4.4% in the previous month. Today, USD-INR pair is expected to quote in the range of 67.45 and 67.85, it added.



Jun 12, 08:58 AM (IST)


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Here are stocks that are in news today:

IFCI revised its benchmark rate to 10.4 percent from 10.2 percent.

Infosys has announced voluntary delisting of its American depositary shares from Euronext Paris & Euronext London

Manappuram Finance board meeting on June 14 to consider issuance of NCD on private placement basis

Orchid Pharma has received EU GMP certification for its Alathur facility

DCM Shriram board meeting on June 18 to consider the proposal to Buy-Back the fully paid up equity shares

Borosil Glass Works' board meeting on June 18, 2018

Shoppers Stop closes its Shoppers Stop store at Swami Vivekananda Airport, Raipur, due to non-renewal of airport store premises agreement

Strides Shasun receives USFDA approval for Oseltamivir Phosphate Capsules

Inox Wind appoints Dewan P. N. Chopra & Co as Independent auditor for next 5 years

Kridhan Infra's associate company won a new order worth Rs 180 crore

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Here are stocks that are in news today:

IFCI revised its benchmark rate to 10.4 percent from 10.2 percent.

Infosys has announced voluntary delisting of its American depositary shares from Euronext Paris & Euronext London

Manappuram Finance board meeting on June 14 to consider issuance of NCD on private placement basis

Orchid Pharma has received EU GMP certification for its Alathur facility

DCM Shriram board meeting on June 18 to consider the proposal to Buy-Back the fully paid up equity shares

Borosil Glass Works' board meeting on June 18, 2018

Shoppers Stop closes its Shoppers Stop store at Swami Vivekananda Airport, Raipur, due to non-renewal of airport store premises agreement

Strides Shasun receives USFDA approval for Oseltamivir Phosphate Capsules

Inox Wind appoints Dewan P. N. Chopra & Co as Independent auditor for next 5 years

Kridhan Infra's associate company won a new order worth Rs 180 crore



Jun 12, 08:48 AM (IST)


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The Nifty50 is likely to open flat on Tuesday following muted trend seen in other Asian markets. The Nifty50 closed 19 points higher at 10,786 on Monday. 

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 2.5 points or 0.02 percent. Nifty futures were trading around 10,789-level on the Singaporean Exchange.

All three major US stock indexes closed slightly higher on Monday as investors eyed the looming United States-North Korea summit on Tuesday in Singapore while shrugging off the weekend’s factious meeting of the Group of Seven nations, said a Reuters report. 

Asian markets were mixed in early Tuesday trade as investors shrugged off trade-related jitters and ahead of several key events this week, including a highly anticipated meeting between US President Donald Trump and North Korean leader Kim Jong Un in Singapore, it said. 

Japan's Nikkei 225 rose 0.43 percent in early morning trade amid broad-based gains. Other markets in the region were little changed. South Korea's Kospi slipped 0.12 percent and Australia's S&P/ASX 200 tacked on 0.03 percent.

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The Nifty50 is likely to open flat on Tuesday following muted trend seen in other Asian markets. The Nifty50 closed 19 points higher at 10,786 on Monday. 

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 2.5 points or 0.02 percent. Nifty futures were trading around 10,789-level on the Singaporean Exchange.

All three major US stock indexes closed slightly higher on Monday as investors eyed the looming United States-North Korea summit on Tuesday in Singapore while shrugging off the weekend’s factious meeting of the Group of Seven nations, said a Reuters report. 

Asian markets were mixed in early Tuesday trade as investors shrugged off trade-related jitters and ahead of several key events this week, including a highly anticipated meeting between US President Donald Trump and North Korean leader Kim Jong Un in Singapore, it said. 

Japan's Nikkei 225 rose 0.43 percent in early morning trade amid broad-based gains. Other markets in the region were little changed. South Korea's Kospi slipped 0.12 percent and Australia's S&P/ASX 200 tacked on 0.03 percent.

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