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Indices pare gains, BOI up 2%, TVS climbs 1%

Share Source By

Dion Global

31 Dec 2018

The Indian benchmark indices pared gains in the morning deals on Monday after opening on a firm note. Asian stocks crept higher on Monday as hints of progress on the Sino-US trade standoff provided a rare glimmer of optimism in what has been a rough year-end for equities globally. Sectorally, all the indices were trading in the green with pharma and banking stocks leading the performance charts. Among individual stocks, shares of Bank of India hit a seven-month high up 2% in the early morning trade, after state-owned bank Saturday said the government has decided to infuse Rs 100.86 billion in the bank as part of capital infusion. The stock was trading at its highest level since May 29, 2018. The shares of TVS Motor Company (up 1.52 per cent), Exide Industries (up 1.41 per cent), Tata Motors (up 1.38 per cent) and Tata Motors (DVR) (up 1.09 per cent) were the top performers in the index.

At 10:26 hours, BSE SENSEX was trading at 36175.14 up by 98.42 points or by 0.27 per cent and then NSE Nifty was at 10899 up by 39.1 points or by 0.36 per cent.

Among the top gainers of the BSE Sensex were Tata Steel Ltd. (Rs. 523.75,+1.96%), Tata Motors Ltd. (Rs. 173.60,+1.64%), Tata Motors Ltd. (Rs. 93.30,+1.47%), Vedanta Ltd. (Rs. 202.10,+1.35%), Bajaj Auto Ltd. (Rs. 2757.00,+1.24%). Whereas, Power Grid Corporation of India Ltd. (Rs. 196.80,-0.48%), Kotak Mahindra Bank Ltd. (Rs. 1239.25,-0.43%), Housing Development Finance Corporation Ltd. (Rs. 1974.00,-0.31%), Oil And Natural Gas Corporation Ltd. (Rs. 150.00,-0.30%), Reliance Industries Ltd. (Rs. 1125.60,-0.02%), were among others top losers of the BSE Sensex.

Sector wise BSE Metal index was at 11859.7 up by 187.07 points or by 1.6%. National Aluminium Company Ltd. (Rs. 65.15,+2.52%), Steel Authority of India (SAIL) Ltd. (Rs. 56.20,+2.46%), JSW Steel Ltd. (Rs. 303.90,+2.05%), Tata Steel Ltd. (Rs. 523.75,+1.96%), NMDC Ltd. (Rs. 97.30,+1.94%). Also, BSE CDS index was at 20760.36 up by 207.99 points or by 1.01%. Titan Company Ltd. (Rs. 934.85,+1.34%), Voltas Ltd. (Rs. 557.60,+1.10%), TTK Prestige Ltd. (Rs. 7530.00,+0.95%), Blue Star Ltd. (Rs. 619.00,+0.83%), Crompton Greaves Consumer Electricals Ltd. (Rs. 225.50,+0.53%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2083 , shares advanced were 1327 while 638 shares declined and 118 were unchanged.