Equity

Indices clock modest gains on Muhurat trading
(07-Nov-2018, 18:49 Hours IST)  

Key benchmark indices settled with modest gains in a shortened trading session marking the start of the Hindu new year, Samvat 2075. The barometer index, the S&P BSE Sensex, gained 245.77 points or 0.70% to settle at 35,237.68. The Nifty 50 index rose 68.40 points or 0.65% to settle at 10,598.40. Auto stocks gained.

Trading for Samvat 2075 began on a firm note. The Sensex settled above the psychological 35,000 level after regaining that level in opening trade. Domestic stock markets were open for a special Muhurat trading session today, 7 November 2018 between 17:15 IST and 18:30 IST. Stock markets will remain shut tomorrow, 8 November 2018 on account of Diwali Balipratipada.

The S&P BSE Mid-Cap index rose 0.81%. The S&P BSE Small-Cap index rose 1.19%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1940 shares rose and 430 shares fell. A total of 127 shares were unchanged.

Infosys (up 1.38%), Vedanta (up 1.13%), ITC (up 0.99%), Asian Paints (up 0.98%), and Tata Steel (up 0.87%) were the major Sensex gainers.

Auto stocks gained. Tata Motors (up 1.09%), Maruti Suzuki India (up 0.79%), Mahindra & Mahindra (M&M) (up 2.16%), Eicher Motors (up 0.68%), Ashok Leyland (up 0.91%), Escorts (up 0.56%), Bajaj Auto (up 1.16%) and TVS Motor Company (up 0.7%) rose.

Hero MotoCorp rose 0.84% after the company unveiled its new premium motorcycle, the XPulse 200T, at the global platform of the EICMA motorcycle show in Milan, Italy. The announcement was made after market hours yesterday, 6 November 2018.

The XPulse 200T is a 'Tourer' that offers customers modern technology in retro styling. Built to inspire touring, the XPulse 200T offers easy and comfortable riding posture. The motorcycle offers a host of safety and convenience features such as single channel ABS, LED head and tail lamps, digital speedometer with Bluetooth connectivity and turn-by-turn navigation.

NMDC rose 1.57% after the company said that the Karnataka State Government extended the lease of Donimalai Mine with effect from 4 November 2018 for 20 years. The announcement was made after market hours yesterday, 6 November 2018.

NMDC said that lease deed of Donimalai Iron Ore Mine expired on 3 November 2018. The Karnataka State Government has already extended the lease of Donimalai Mine with effect from 4 November 2018 for 20 years. Other formalities are in the process.

Manappuram Finance rose 5.08% after consolidated net profit rose 40.66% to Rs 224 crore on 22.30% increase in total income to Rs 1027.52 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 6 November 2018.

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