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Sensex rises 240 points, Nifty above 10900, Sun Pharma shares dive 10%

Vedanta, Tata Steel, Coal India, Indiabulls Housing Finance and NTPC are top gainers on key indices, whereas Sun Pharma, Yes Bank, ICICI Bank, HPCL and Hero MotoCorp are major losers. Here are the latest updates from the markets

Benchmark indices BSE Sensex and NSE’s Nifty 50 advanced on Monday, extending their winning streak to a sixth straight session, following positive cues from global markets after US and China agreed to halt their tariff war. Asian stocks surged along US equity futures, the Australian dollar and the Chinese yuan, after a truce between US and China emerged from the G20 meeting. Oil prices surged around 4% after Washington and Beijing agreed a 90-day trade truce and ahead of the Opec meeting this week that is expected to result in a supply cut. India’s GDP grew a lower-than-expected 7.1% in the quarter on an annualised basis, from a more than two-year high of 8.2% in the previous quarter.

10.00 am IST
Market update: Sensex, Nifty continue winning streak for 6th day
The BSE Sensex traded 185.84 points, or 0.51%, up at 36,380.14, and the Nifty 50 rose 48.50 points, or 0.45%, to 10,925.25. Intraday, the Sensex rose 251.86 points to 36,446.16 and the Nifty 50 gained 64.45 points to 10,941.20.
The BSE MidCap and SmallCap indices advanced 0.63% and 0.47%, respectively. Seventeen out of 19 sectoral indices on BSE traded in positive territory. Metal and realty rose over 2.5% followed by telecom and basic materials, which rose 1.2%. Healthcare and oil and gas fell 0.89% and 0.27%, respectively.

9.28 am IST
Metal stocks gain as prices surge on US-China trade deal
Shares of metal companies as prices of industrial metals in London and Shanghai jumped after US and Chinese leaders agreed to a ceasefire in a trade dispute that has shaken global markets. The Nifty Metal Index rose 3%, led by Jindal Steel, Hindalco, Vedanta and Tata Steel.
Three-month LME copper rose 2.3% to $6,338.5 a tonne, while the most-traded copper contract in Shanghai climbed 1.7% to 50,420 yuan ($7,248.63) a tonne. Other industrial metals also rose, with Shanghai zinc jumping 4.7% to 21,370 yuan a tonne. (Reuters)

9.20 am IST
Sun Pharma shares slump 10% on Sebi probe news
Sun Pharma shares fell as much as 10% to Rs 443.10 per share after PTI reported on Friday that Sebi is likely to reopen an insider trading case against Sun Pharmaceutical Industries as well as probe alleged lapses by some of its promoters and other entities in raising funds overseas.
The development comes after a whistleblower reportedly approached Sebi with a document alleging various irregularities by the company, its promoter Dilip Shanghvi and others, the report added, citing source. In August 2017, Sun Pharmaceutical, its managing director Dilip Shanghvi and nine other entities settled an insider trading probe on payment of Rs 18 lakh towards settlement charges.

source: livemint.com

Categories:   BSE Sensex, Indian Stock exchange, Indian Stock Market, Indian Stock Pick

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