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BSE Sensex ends 359 pts up, NSE Nifty ends at 7,842 on Fed comments

By FnF Desk | PUBLISHED: 19, Nov 2015, 15:37 pm IST | UPDATED: 19, Nov 2015, 15:57 pm IST

BSE Sensex ends 359 pts up, NSE Nifty ends at 7,842 on Fed comments Mumbai: The domestic markets ended the day sharply higher in trade on Thursday tracking positive trend seen in Asian markets as Federal minutes of the October 27-28 meeting signalled at high probability of December rate hike but a gradual tightening going ahead.

The S&P BSE Sensex settled at 25,841.92, up 359.40 points, while the broader CNX Nifty ended just a tad below its key 7,850-mark, at 7,842.75, up 110.95 points.

3.17: The S&P BSE Sensex surges 1.47%, or 374.91 points, to 25,857.43, while the Nifty 50 rises 1.42%, or 109.85 points, to 7,841.65.

2:30pm: The Sensex is now trading higher by 310.92 points, or 1.22%, to 25,793.44, while the Nifty is trading higher by 90.75 points, or 1.17%, to 7,822.55.

2:25pm: The rupee is trading at 66.17, up 0.2%, from its previous close of 66.30 against the US dollar, after local equity markets gained over 300 points.

2:20pm: Punj Lloyd Ltd rises 6.3% to Rs.25.55 after the company said in a notice to BSE that it got two orders from NTPC for rural electrification of Puri and Koraput in Odisha.

2:15pm: Aviation stocks were trading higher. Jet Airways India Ltd is up 6.2%, SpiceJet Ltd rises 8%, InterGlobe Aviation Ltd gains 6%.

2:10pm: The Sensex is now trading higher by 354.65 points, or 1.39%, to 25,837.17 while the Nifty is trading higher by 103.60 points, or 1.34%, to 7,835.40.

2:05pm: TVS Motor Co Ltd rises 2.2% to Rs.292.50 after Bloomberg TV reported that the company and BMW in talks for 500-600 cc twin cylinder bikes.

1:50pm: Railway stocks are trading higher. Titagarh Wagons Ltd is up 5.9%, Texmaco Rail and Engineering Ltd rises 8.7%, Kernex Microsystems India Ltd 5%, Stone India Ltd 4.7% and Kalindee Rail Nirman Engineers Ltd up 5.3%.

1:20pm: The Sensex is now trading higher by 350.78 points, or 1.38%, to 25,833.30 while the Nifty is trading higher by 104.40 points, or 1.35%, to 7,836.20.

12:50pm: Shares of Hero MotoCorp Ltd on Thursday gained as much as 4.4%, steepest gains since 23 June, after the company said it sold over 1 million units in festive season. In intraday, the stock touched a high of Rs.2,683.80—a level last seen on 19 August.

The jump in auto sales primarily due to lower interest rates, cheaper fuel prices and festive season.

12:35pm: Other auto companies are also trading higher on the back of higher volumes. Bajaj Auto Ltd is up 3.1%, Maruti Suzuki India Ltd rises 1.8%, Eicher Motors Ltd 1.2%, Ashok Leyland Ltd 1%, Mahindra and Mahindra Ltd 0.8%, Tata Motors Ltd rises 0.6%.

12:25pm: BSE Auto Index was trading at 18,557.35, up 1.42% from previous close while Sensex Index rose 1% to 25732.88 points.

12:10pm: Eros International Media Ltd rises 3.2% to Rs.220.70 after Mint reported that the company may buy back equity shares from the market even as its parent Eros International Plc fights allegations of financial misreporting.

11:55am: The Sensex is now trading higher by 276.07 points, or 1.08%, to 25,758.59 while the Nifty is trading higher by 88.20 points, or 1.14%, to 7,820.

11:45am: Amtek Auto Ltd rises 6% to Rs.45.65 after a Business Standard report said that Amtek Auto may end up selling Tekfor, the German forging company it acquired in 2013 for a consideration of over Rs.6,000 crore. The Delhi-based auto component maker is looking to receive bids from about a dozen bidders next month.

11:35am: Vedanta Ltd is up 1.5% to Rs.90.5 after a Bloomberg report said that the Vedanta Resources Plc plans to cut costs by as much as 25% as it battles a global slump.

11:20am: IIFL Holdings Ltd gains 3.44% to Rs.192.25. The Foreign Investment Promotion Board or FIPB said the government has approved six proposals of foreign direct investment worth Rs.1,810 crore on 30 October, including proposals from SeQuent Scientific and IIFL Holdings.

11:05am: Shares of Sugar companies is trading lower on profit booking. Dhampur Sugar Mills is trading 5% lower, Shree Renuka Sugar 7.3%, Bajaj Hindusthan Sugar Ltd 4.6%. EID Parry India Ltd 3.6%, Triveni Engineering and Industries is down 4%, Mawana Sugars Ltd falls 5%, Uttam Sugar Mills Ltd is down 8.9%, Oudh Sugar Mills Ltd falls 10%,

10:50am: Logistics companies were trading higher on the back of higher volumes. Patel Integrated Logistics Ltd rises 12.9%, Gati Ltd is up 4%, VRL Logistics 3.3%, Snowman Logistics is 4.3%, Transport Corporation of India rises 2.4%, Sical Logistics is up 3.4% and Navkar Corporation 1.5%.

10:35am: The Sensex is now trading at 25,714.96, up 232.44 points, or 0.91% while the Nifty is up 69.85 points, or 0.90%, to 7,801.65.

10:25am: Religare Enterprises Ltd is up 1.3% to Rs.280.85 after Mint reported that Invesco, a US fund house and a sponsor of Religare Invesco Asset Management Co. Ltd, has bought out the entire shareholding of co-sponsor Religare Securities Ltd (51%) in the local fund house with assets of about Rs.21,500 crore.

10:10am: Gainers: Hero MotoCorp Ltd rise 1.8% to Rs.2,618.95 after the company said its festive season sales crossed 1 million units. Maruti Suzuki India Ltd rises 1.2% to Rs.4,591.05.

10:00am: Losers: Dr Reddy’s Laboratories Ltd falls 6.3% to Rs.3,162.45. Lundin Law PC has announced it is investigating claims against Dr. Reddy’s Laboratories Ltd concerning possible violations of federal securities laws. The investigation is related to allegations that certain statements issued by Dr. Reddy’s concerning the company’s financial performance were false and misleading.

Other pharmaceutical companies were also trading lower. Dishman Pharma Ltd falls 2%, Lupin falls 1% and Sun Pharmaceuticals Industries Ltd is down 0.2%.

Coal India Ltd is down 1.3% to Rs.330.75 after the government approved disinvestment of 10% stake in Coal India Ltd.

9:50am: Sectoral indices: BSE IT Index is the top sectoral gainer, up 1.1%, followed by BSE BSE Auto and Teck indices, which are down 1% each. BSE FMCG, Consumer Durables and Capital Goods were up 0.8% each. BSE Bankex, Oil and Gas and Realty were up 0.5% each. BSE Healthcare Index is the top sectoral loser, down 0.5%.

9:40am: The S&P BSE Sensex is up 0.54%, or 137.11 points, to 25,619.63, while the 50-share CNX Nifty of the National Stock Exchange rose 0.52%, or 40.55 points, to 7,772.30.

9:35am: Indian equity-index futures advanced after stocks fell to a two-month low and Federal Reserve policy makers stressed that the pace of US rate increases will be slow.

9:30am: The rupee strengthens at 66.09 against the US dollar, up from its previous close of 66.30, tracking the gains in local equity and Asian currencies market. Read here

9:25am: The yield on India’s 10-year benchmark bond was trading at 7.672% compared with its Wednesday’s close of 7.684%.

9:20am: The Bank of Japan (BoJ) maintained its current pace of monetary stimulus on Thursday, clinging to hopes that an economic recovery is in sight despite soft domestic capital expenditure and challenging global business conditions. Read more

9:15am: Australia’s S&P/ASX 200 Index rises 1.6%, with materials shares leading gains. Japan’s Topix index adds 1.2%, Hong Kong’s Hang Seng Index gains 1.2% and the Kospi index climbs 0.9% in Seoul. The Shanghai Composite Index climbs 0.3% as technology companies resumed a year-long rally.

9:10am: The euro edges up to $1.0696 and off a seven-month trough around $1.0615. The dollar also eases against the yen to 123.25, after touching a three-month peak of 123.67.

9:05am: Asian shares rises and the dollar backed off highs on expectations the Federal Reserve would be confident enough of the US economy to raise rates in December but would then proceed with great caution on further tightening. Read here

9:00am: Benchmark US crude rises 8 cents to close at $40.75 a barrel on the New York Mercantile Exchange. Brent crude gains 57 cents to close at $44.14 a barrel in London.

8:55am: The Dow Jones industrial average rose 247.66 points, or 1.4%, to 17,737.16. The Standard and Poor’s 500 index gained 33.14 points, or 1.6%, to 2,083.58. The Nasdaq composite added 89.19 points, or 1.8%, to 5,075.20.