Sensex ends 118 points higher in volatile trade; Nifty above 8,250
On a day marked by volatility, stock market closed higher, led by gains in financial scrips, on hopes that the Reserve Bank of India would cut interest rates on or before its monetary policy review scheduled for June 2.
Hopes of a rate cut by the RBI have surged recently, after the government reported weak consumer and wholesale price-based inflation numbers, besides a weak growth in industrial activity.
The equities market, buffeted in the recent past due to concerns over MAT levy, higher crude oil price, weak corporate earnings growth, not to mention tardy pace of reforms, ended with second weekly gains on Friday, as the government defended its reforms approach.
On Thursday, Finance Minister Arun Jaitley defended the Centre's approach to reforms, days after it succumbed to political pressure in parliament and delayed the passage of key land and tax reforms by referring them to a parliamentary panel.
"I do believe that the roadmap that we have now developed of sending it to the joint committee is probably the fastest route to get the land bill approved," he said.
Markets @ close
Sensex: 27324.00, up 118 points; Nifty: 8262.35, up 38 points
BUZZING STOCKS
Jubilant Food surges 13% intraday on better-than-expected Q4 results; JP Morgan upgrades
HDIL down 13%; Q4 consolidated PAT at Rs 31.89 cr vs Rs 113 cr YoY
Tata Steel slumps 3%; says to take $785 mn non-cash writedown in Q4
Cadila Healthcare up 2%; recommends dividend of Rs 12/share
Glenmark down 1.5%; SC restrains co from manufacturing two anti-diabetes drugs
ABG slips 3%; firm defaults on restructured loan
MCX stock up over 5%; Q4 net profit rises 13% pc to Rs 49 crore
HOW MARKETS BEHAVED THROUGH THE DAY
Markets @ 2:30
Sensex @ 27,363; up 157 points. Nifty @ 8,268; up 44 points
Top Gainers
SBI: 2.4%; M&M: 1.9%; HDFC: 1.7%
Top Losers
NTPC: (-2.2%); Vedanta: (-1.6%); Tata Steel: (-1.0%)
Markets @ 1:00
Sensex: 27,280.8, up 75 points; Nifty: 8,250.1, up 26 points
Top Gainers
SBI: 2.1%; Bharti Airtel: 1.9%; M&M: 1.7%
Top Losers
NTPC: (-1.4%); Vedanta: (-1.1%); Tata Steel: (-1.0%)
Markets @ 12:00
Sensex: 27,297.2, up 91.2 points; Nifty: 8,252.6, up 28.5 points
Top Gainers
Bharti Airtel: 2.0%; SBI: 1.8%; HDFC: 1.5%
Top Losers
Hindalco: (-1.6%); Tata Steel: (-1.5%); Vedanta: (-1.1%)
Markets @ 10:50
Sensex: 27,239.54, up 33.48 points; Nifty: 8,237.85, up 13.65 points
Top Gainers
SBI: 1.4% Axis Bank: 1.3% M&M: 1.2%
Top Losers
Tata Steel: (-1.7%) Hindalco: (-1.6%) Cipla: (-1.1%)
Markets @ 10:20
Sensex: 27,320.5, up 114 points; Nifty: 8,251.0, up 27 points
Top Gainers
SBI: 1.7% HDFC: 1.5% Axis Bank: 1.4%
Top Losers
Tata Steel: (-1.3%) Hindalco: (-1.1%) GAIL: (-0.7%)
At 09:20 a.m.; the 30-share index was at 27,332 up 126 points or 0.47 per cent. It touched a high of 27379.57 and a low of 27233.78 in trade today.
The Nifty was at 8262 up 38 points or 0.46 per cent. It touched a high of 8278.90 and a low of 8233.90 in trade today.
The S&P BSE Midcap Index was up 0.65 per cent and BSE S&P Smallcap Index edged higher by 0.72 per cent.
SBI (up 1.3 per cent), NTPC (up 1.3 per cent), Sesa Sterlite (up 1.2 per cent), Bharti Airtel BSE 1.80 % (up 1.2 per cent) and M&M (up 1.3 per cent) were among the major Sensex gainers.
Tata SteelBSE -0.60 % (down 1.8 per cent), Coal India (down 0.91 per cent), Sun Pharma (down 0.65 per cent), GAIL India (down 0.56 per cent) and Dr Reddy's Laboratories (down 0.53 per cent) were the major index losers.
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