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Sensex up over 270 points; Bandhan Bank dips 5%

Share Source By

Dion Global

07 Jan 2019

Indian benchmark indices are trading higher in the late noon session. All sectors are trading in the green, with maximum gains seen among metals, automobiles, consumption, as well as financials. The shares of Bandhan Bank and Gruh Finance have fallen by up to 5 per cent on the BSE in intra-day trade in an otherwise firm market amid reports of a merger between the two. According to media reports, Bandhan Bank and Housing Development Finance Corporation (HDFC)-controlled Gruh Finance are set to merge through a share swap deal. Bandhan Bank has dipped 5 per cent to Rs 504, falling 7 per cent from its opening level on the BSE. The stock was trading lower for the fourth straight day, down 9.5 per cent during the period. Gruh Finance slipped 4 per cent to Rs 307, declining 7 per cent from intra-day high level.

At 14:21 hours, the BSE SENSEX was trading at 35967.36 up by 272.26 points or by 0.76 per cent and then NSE Nifty was at 10805.35 up by 78 points or by 0.73 per cent. The BSE Sensex touched intraday high of 36076.95 and intraday low of 35892.05 The NSE Nifty touched intraday high of 10835.95 and intraday low of 10782.05.

The top gainers of the BSE Sensex were Tata Motors Ltd. (Rs. 176.85,+3.57%), Tata Motors Ltd. (Rs. 94.50,+3.28%), Axis Bank Ltd. (Rs. 637.80,+2.90%), NTPC Ltd. (Rs. 148.95,+2.27%), Maruti Suzuki India Ltd. (Rs. 7392.00,+2.14%), among others. The top losers of the BSE Sensex were Bajaj Auto Ltd. (Rs. 2679.05,-2.03%), Hero MotoCorp Ltd. (Rs. 2969.00,-0.79%), Coal India Ltd. (Rs. 235.10,-0.25%), State Bank of India (Rs. 296.75,-0.25%), Bajaj Finance Ltd. (Rs. 2572.95,-0.24%), among others.

Among sectors, BSE Realty index was at 1867.41 up by 42.21 points or by 2.31%. Housing Development & Infrastructure Ltd. (Rs. 27.70,+8.84%), Godrej Industries Ltd. (Rs. 714.00,+5.13%), Indiabulls Real Estate Ltd. (Rs. 91.25,+5.01%), DLF Ltd. (Rs. 182.00,+3.91%), Sobha Ltd. (Rs. 452.40,+2.52%). On the other hand, BSE HCS index was at 13799.85 down by -23.04 points or by -0.17%. Eris Lifesciences Ltd. (Rs. 658.00,-3.09%), Healthcare Global Enterprises Ltd. (Rs. 185.80,-2.39%), Dr. Reddy's Laboratories Ltd. (Rs. 2548.90,-2.03%), Laurus Labs Ltd. (Rs. 376.00,-1.97%), Glenmark Pharmaceuticals Ltd. (Rs. 650.90,-1.94%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2822 , shares advanced were 1486 while 1127 shares declined and 209 were unchanged.