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The market regained momentum in last hour of trade Friday, with the Nifty closing above 9,900-mark despite weakness in global peers. The recovery was driven by Reliance Industries, technology and select banks stocks while telecom, infra and healthcare stocks capped the upside.
Key benchmark indices ended with small losses in volatile session of trade. The barometer index, the S&P BSE Sensex, fell 50.95 points or 0.16% to settle at 31,904.40. The Nifty 50 index fell 26.30 points or 0.27% to settle at 9,873.30. The Sensex ended below the psychologically important 32,000 mark after crossing that level in early trade.
Equity benchmarks closed a rangebound session moderately lower on Thursday due to profit-booking, even as investors look for more corporate earnings. Reliance Industries (down 0.3 percent) and Wipro (down 0.83 percent) will announce earnings later today.
Adani Ports & Special Economic Zone said that its finance committee approved the issuance of fixed rate senior unsecured notes aggregating $500 million and has approved the pricing tenure and other terms of the note. The notes will mature on 30 July 2017. The announcement was made after market hours yesterday, 22 June 2017.
Cabinet is scheduled to meet at 5pm today and sugar fair and remunerative price (FRP) is on the agenda. The meet has been overdue for some time now and for last couple of years we have not seen the FRP being increased from where it stands – Rs 230 per quintal for 2016-2017 onwards. The expectation is that it might be increased by 10 percent to Rs 255 per quintal.
Sugar output in Tamil Nadu, one of India's main sugar producing states, is likely to fall by more than a third in the new season beginning October, hit by the worst drought in more than a century.
MUMBAI Sugar output in Tamil Nadu, one of India's main sugar producing states, is likely to fall by more than a third in the new season beginning October, hit by the worst drought in more than a century.
The great Indian debt saga has had many victims, more of them lenders than borrowers. So far we have seen very few changes in control of companies – barring Essar Oil’s deal with Rosneft and Jaiprakash Associates sale of cement assets to Ultratech.
Trading for the week started on a firm footing as key benchmark indices settled with decent gains. The barometer index, the S&P BSE Sensex, rose 198.76 points or 0.70% to settle at 28,439.28. The Nifty 50 index rose 60.10 points or 0.69% to settle at 8,801.05. The Sensex and the Nifty, both, hit their highest closing level in 4-1/2-months.
Key benchmark indices were range bound in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was up 105.79 points or 0.40% at 26,454.89. The Nifty 50 index was up 34.20 points or 0.42% at 8,162.95. Positive leads from Asian markets and overnight rally on the Wall Street boosted investors sentiment in the domestic market.