Domestic equity markets finished higher on Thursday, reversing two day’s losses as buying beaten down blue chip stocks supported market sentiment. However, the markets witnessed some profit booking near the day’s high, later on positive opening of the European markets helped markets regain strength. The Nifty closed above the crucial psychological barrier of 8,850-mark on the back of buying in banking, auto and utilities shares. Nifty closed with a gain of 90 points at 8,867, while BSE Sensex ended with a gain of 266 points at 28,773.
On the global front, Asian stocks closed higher. Japanese markets were closed to observe a local holiday. Shanghai Composite and Hong Kong’s Hang Seng index index closed in green.
European stocks edged on Thursday. The DAX and the CAC 40 were trading higher by 1.9% each. FTSE 100 was trading up 1%.
Larsen & Toubro gained 1.9% to Rs.1499 after the company signed the principle contract with Vietnam Border Guard valued at USD 99.7 million for design and construction of high speed patrol vessels in India as well as for transfer of design and technology along with supply of equipment and material kits for construction of follow-on vessels at a Vietnam shipyard.
Syngene International Ltd rose 4.3% to Rs.502 on the BSE. Syngene International Ltd., Asia’s leading Contract Research Organization, and Strand Life Sciences, announced that they has completed a deal through which Syngene had purchased assets of Strand LifeSciences related to systems biology, Heptox and pharma bioinformatics services.
Aurobindo Pharma soared 6.3% after the company received the tentative approval of Dolutegravir 50mg from the US Food & Drug Administration (USFDA) for the treatment of HIV.
Capri Global Capital rallied 15.7% after the company considered sub division of its equity shares in the Board meeting to be held on October 10. The company will also consider issue of non-convertible debentures on private placement basis.
NTPC Ltd zoomed 2% to Rs.157 on the BSE. The company received shareholders’ approval to raise up to Rs 15,000 crore through issuance of debentures/bonds on private placement basis. The funds would be raised in one or more tranches/series not exceeding 30, through private placement, in domestic market for capex, working capital and general corporate purposes.
Shares of Indian Oil Corp rose as much as 1.2% and Gail (India) Ltd gained up to 1% after the companies agreed to buy a combined 49% stake in a liquefied natural gas terminal being built in Odisha.
Shares of Federal Bank closed 3% higher at Rs.73 on BSE today. Around 33.5 Lakh shares were traded in a multiple block at Rs.77.70-77.75 on the BSE.
United Breweries dropped 1.5% to Rs.876. United Breweries said private lender Yes Bank has invoked 19 Lakh of its shares worth Rs.156 crore which were pledged by McDowell Holdings, a unit of Vijay Mallya-led UB Group, as per media reports.
The rupee was trading up 11 paise at 66.74 per US dollar.
Out of 1,512 stocks traded on the NSE, 611 declined and 781 advanced today.
Top 5 Nifty Gainers: TCS (0.68%), Reliance Ind (0.68%), L&T (0.60%), CIPLA (0.49%) and M&M (0.45%)
Top 5 Nifty Losers: Axis Bank (-3.82%), Lupin Ltd (-1.46%), ICICI Bank (-1.07%), Tata Motors (-0.87%) and Infosys Ltd (-0.61%)
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