Closing Bell: Nifty holds 11,000, Sensex up 125 pts; auto, metal outperform

Ajit Mishra Vice President, Research, Religare Broking:

We expect the Indian markets to remain range bound in the near term. Barring the macro data (CPI, IIP) this week, there are no key domestic triggers in the near-term. We believe global factors such as US-China trade war development, Brexit; etc. will provide direction to the markets. Also, ECB meet scheduled for tomorrow and a likely rate cut by US Federal Reserve in its mid-September meeting will have a bearing on the markets going forward.

Sep 11, 04:00 PM (IST)
OPEC cuts 2019 world oil demand growth view by 80,000 bpd to 1 million bpd. Also, cuts 2020 world oil demand growth view by 60,000 bpd. The August production was at 29.74 mn bpd, up 136,000 bpd (MoM), reported CNBC-TV18.

Sep 11, 03:34 PM (IST)
Market close: Benchmark indices ended higher on the rangebound day with Nifty able to hold above 11,000 mark.

At close, the Sensex was up 125.37 points at 37,270.82, while Nifty was up 32.70 points at 11,035.70. About 1814 shares have advanced, 782 shares declined, and 151 shares are unchanged.

Yes Bank, Tata Motors, Eicher Motors, Maruti Suzuki and JSW Steel were among major gainers on the Nifty, while losers were ONGC, Wipro, GAIL, HCL Technologies and Zee Entertainment.

Among sectors, IT, energy and FMCG witnessed selling pressure, while auto, metal, bank and infra has outperformed. BSE midcap index was up nearly 1 percent, while smallcap index was up 1.3 percent.

Sep 11, 03:29 PM (IST)
Indian Hume Pipe jumps 8% on work order: Shares of Indian Hume Pipe rallied nearly 8 percent on September 11 after receiving letter of intent for the work of Rs 133.08 crore (excluding GST) for Gowardhan project in Maharashtra.

L&T Finance Holdings approve the issuance of up to 100,00,000 Cumulative Compulsorily Redeemable Non-convertible preference shares of face value of Rs 100 at par aggregating to a nominal amount of up to Rs 100,00,00,000 on a private placement basis at the dividend rate of 7.95% p.a. payable annually.

Sep 11, 03:02 PM (IST)
Tata Metaliks’ second blast furnace and its associated facilities in Kharagpur will undergo a planned shutdown, for maintenance and overhauling from September 12, 2019 at 10.00 a.m. The operations are expected to be back on stream from September 16, 2019 at 10.00 p.m

Dr Reddy’s Lab launched Fosaprepitant for Injection in US market:

Dr. Reddy’s Laboratories announced the launch of Fosaprepitant for Injection, the therapeutic generic equivalent of EMEND (fosaprepitant) for injection, approved by the US Food and Drug Administration (USFDA).

Dr Reddy’s Fosaprepitant for Injection is available in 150 mg single-dose vial for reconstitution.

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