The market ended on a higher note. The Sensex was up 283.17 points or 1 percent at 27115.83 and the Nifty was up 83.05 points or 1 percent at 8174.60. About 1634 shares advanced, 1099 shares declined and 157 shares were unchanged. Reliance, ONGC, Tata Motors, Sun Pharma and Wipro were top gainers in the Sensex. Among the losers were Coal India, Cipla, NTPC, Tata Steel and GAIL.
Shares of HDFC Bank, ICICI Bank, SBI, ONGC, Bharti Airtel, Sun Pharma, Wipro, Hindalco and BHEL climbed 1-2 percent. However, Cipla fell 0.8 percent after sources said many senior and mid-management level exits seen in last 3-4 months. Cipla is yet to fill senior executive posts after senior and mid-management level exits, sources added. Castex Technologies (earlier known as Amtek India) fell nearly 4 percent as sources said the company is facing trouble with USD 70 million FCCB issue. The rupee gained further, rising 36 paise to 63.74 a dollar after Federal Reserve kept key rates unchanged.
HDFC Bank is up 1.2%. The private banking major has slashed base rate by 0.15%, a move which will lower EMIs for its borrowers. Mortgage lender HDFC was up 0.7%.
SBI was up 1.3%. The PSU banking major is targeting 12% growth in credit in the state this fiscal, banking on a turnaround in the mining sector which it expects to happen by the third quarter.
Yes Bank was down 0.5%. The Bombay High Court on Wednesday termed the appointment of two directors on YES Bank's board as invalid and stated that the proposed appointments of three others - Rajat Monga, Sanjay Palve and Pralay Mondal - were void.
Tata Steel was down 0.6% on profit taking after sharp gains in the previous session. Industrial action by workers at Tata Steel UK has been suspended until Saturday so that a new offer on pensions can be considered.
Cipla has dropped nearly 1% on reports that Cipla business head Sameer Goel has resigned from his post.
Maruti Suzuki was marginally up. The auto major has signed a deal with Malaysian carmaker Proton for the assembly and sale of an entry-level model in its domestic market.
Shares of HDFC Bank, ICICI Bank, SBI, ONGC, Bharti Airtel, Sun Pharma, Wipro, Hindalco and BHEL climbed 1-2 percent. However, Cipla fell 0.8 percent after sources said many senior and mid-management level exits seen in last 3-4 months. Cipla is yet to fill senior executive posts after senior and mid-management level exits, sources added. Castex Technologies (earlier known as Amtek India) fell nearly 4 percent as sources said the company is facing trouble with USD 70 million FCCB issue. The rupee gained further, rising 36 paise to 63.74 a dollar after Federal Reserve kept key rates unchanged.
HDFC Bank is up 1.2%. The private banking major has slashed base rate by 0.15%, a move which will lower EMIs for its borrowers. Mortgage lender HDFC was up 0.7%.
SBI was up 1.3%. The PSU banking major is targeting 12% growth in credit in the state this fiscal, banking on a turnaround in the mining sector which it expects to happen by the third quarter.
Yes Bank was down 0.5%. The Bombay High Court on Wednesday termed the appointment of two directors on YES Bank's board as invalid and stated that the proposed appointments of three others - Rajat Monga, Sanjay Palve and Pralay Mondal - were void.
Tata Steel was down 0.6% on profit taking after sharp gains in the previous session. Industrial action by workers at Tata Steel UK has been suspended until Saturday so that a new offer on pensions can be considered.
Cipla has dropped nearly 1% on reports that Cipla business head Sameer Goel has resigned from his post.
Maruti Suzuki was marginally up. The auto major has signed a deal with Malaysian carmaker Proton for the assembly and sale of an entry-level model in its domestic market.
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