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Sensex, Nifty maintain strong uptrend; ICICI, Axis up 4-5%

Sep 18, 2015, 02.20 PM | Source: Moneycontrol.com

HDFC Bank, ICICI Bank, HDFC, Axis Bank, SBI, Mahindra & Mahindra and Hero Motocorp topped the buying list, up 3-5 percent. However, Tata Motors fell 2.7 percent after Tata Steel diluted some stake in the company. HUL lost 1.5 percent.

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Sensex, Nifty maintain strong uptrend; ICICI, Axis up 4-5%

HDFC Bank, ICICI Bank, HDFC, Axis Bank, SBI, Mahindra & Mahindra and Hero Motocorp topped the buying list, up 3-5 percent. However, Tata Motors fell 2.7 percent after Tata Steel diluted some stake in the company. HUL lost 1.5 percent.

14:00

TheNewsInternational Team

2:15 pm New rules by SEBI:

To ensure more transparency, SEBI has asked listed companies to inform stock exchanges at least two working days in advance about board meetings on proposals related to buyback of securities, voluntary delisting and fund raising.

The move is aimed at bringing in greater transparency in the business affairs of the listed firms. Under the new norms, prior intimation of a board meeting is required to be forwarded to the stock exchanges.

Also read – Nifty to make news highs this year; buy financials: Quantum

2:00 pm Market Check

Equity benchmarks remained strong in afternoon trade after Federal Reserve left funds rates unchanged. The 30-share BSE Sensex rose 449.51 points or 1.73 percent to 26413.48 and the Nifty climbed 137.65 points or 1.74 percent to 8036.80.

Robert Parker, Senior Advisor – Investment, Strategy & Research,Credit Suisse reiterates his earlier view that India is likely to outperform other emerging markets. If one were to look at India’s market performance today, it clearly shows there is more focus on positive domestic cues than negative global cues, he says, adding India has been a clear beneficiary of lower commodity prices.

The broader markets, too, rallied with the BSE Midcap and Smallcap indices rising 1.6 percent and 1.4 percent, respectively. About 1732 shares have advanced against 740 shares declined on the Bombay Stock Exchange.

HDFC Bank, ICICI Bank, HDFC, Axis Bank, SBI, Mahindra & Mahindra and Hero Motocorp topped the buying list, up 3-5 percent. However, Tata Motors fell 2.7 percent after Tata Steel diluted some stake in the company. HUL lost 1.5 percent.

The Indian rupee gained more strength, up 70 paise or 1 percent to 65.75 a dollar.

13:00

Sensex, Nifty flex muscle as Fed keeps rate firm; FMCG weak

Axis Bank, ICICI Bank, M&M, HDFC Bank and SBI are top gainers while Tata Motors, HUL, GAIL, Bharti Airtel and ITC are losers.

Read More »

12:00

Sensex up 500pts, Nifty hits 8050; Bank Nifty at 1-mth highRead More »

Bank Nifty topped the buying list among sectoral indices, up 3.7 percent to 17,588.50, the one-month high.

Read More »

11:00

Nifty nears 8050, Sensex strong; HUL, GAIL, Bharti laggardsRead More »

Axis Bank, ICICI Bank, M&M, HDFC Bank and SBI are top gainers while Tata Motors, HUL, GAIL, Bharti Airtel and Bajaj Auto are major losers in the Sensex.

Read More »

10:09

Sensex, Nifty extend rally; rupee at 66/$ , Tata Motors downRead More »

Banks are leaders in rally with the Bank Nifty up 500 points, especially after media report indicated that the government is considering increasing foreign direct investment (FDI) limit in private banks to 100 percent. HDFC Bank, ICICI Bank and Axis Bank jumped 3-4 percent. HDFC was up 2 percent and SBI gained 3 percent.

Read More »

09:15

Nifty hits 8000, Sensex up above 300 pts on Fed’s decisionRead More »

Bank stocks are outperforming. Axis Bank, ICICI Bank, SBI, Lupin and Hero are top gainers while Tata Motors, GAIL, HUL, Bharti Airtel and Dr Reddy’s Labs are losers in the Sensex.

Read More »

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