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As on May 17, 2019 12:00 AM Your results on : End Session    
Shares surge ahead of exit polls; Nifty crosses 11,400 mark
17-May-2019 (16:55)

The market ended with sharp gains on Friday, supported by strength in private banks and auto shares. Domestic stocks shrugged weakness in the global stock markets and firmness crude oil prices. Investors lapped up shares ahead of key exit poll for the current Lok Sabha elections due on 19 May and results on 23 May. Exit polls will offer early clues to the final poll results.

The Sensex rose 537.29 points or 1.44% to settle at 37,930.77, its highest closing level since 7 May 2019. The index rose 607.65 points, or 1.63% at the day's high of 38,001.13. The index rose 21.88 points, or 0.06% at the day's low of 37,415.36.

The Nifty 50 index rose 150.05 points or 1.33% to settle at 11,407.15, its highest closing level since 7 May 2019. The index rose 169.05 points, or 1.50% at the day's high of 11,426.15. The index rose 2.75 points, or 0.02% at the day's low of 11,259.85.

The market opened higher and held firm at higher levels in morning trade. Shares hovered in a range in mid-morning trade. Indices marched ahead in afternoon trade and hit fresh intraday high in late trade.

Among secondary barometers, the BSE Mid-Cap index rose 1.08%. The BSE Small-Cap index rose 0.51%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1403 shares rose and 1113 shares fell. A total of 146 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Auto index (up 2.45%), the S&P BSE FMCG index (up 2.31%), the S&P BSE Bankex (up 2%) outperformed the Sensex. The S&P BSE Healthcare index (down 0.99%), the S&P BSE IT index (down 0.84%), the S&P BSE Metal index (down 0.18%) underperformed the Sensex.

Mortgage lender HDFC rose 2.79% to Rs 1993.75. Cigarette major ITC rose 2.27% to Rs 301.40.

Bajaj Finance (up 6.09%), Hindustan Unilever (up 2.94%), Larsen & Toubro (up 1.87%), Coal India (up 1.66%) and State Bank of India (up 1.19%), were the prominent Sensex gainers.

Private sector banks advanced. RBL Bank (up 4.01%), Kotak Mahindra Bank (up 3.31%), ICICI Bank (up 2.23%), Axis Bank (up 2.17%), HDFC Bank (up 2.07%), IndusInd Bank (up 1.08%), City Union Bank (up 0.89%) and Federal Bank (up 0.61%), edged higher. Yes Bank fell 2.36%.

Financial services company Bajaj Finserv rose 4.80% after consolidated net profit rose 31.66% to Rs 838.74 crore on 43.5% rise in total income to Rs 12995.47 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 16 May 2019.

During the year, the three key companies - Bajaj Finance (BFL), Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC) have operated well. As before, BFL performed brilliantly. Though BAGIC's profit was adversely affected due to floods in Kerala, it recorded industry beating growth. BALIC recorded all round improvement with industry beating growth in individual premiums supported by improvements in persistency and new business value.

Dr. Reddy's Laboratories fell 2.01%. The company's consolidated net profit rose 67.36% to Rs 455.40 crore on 14.29% increase in total income to Rs 4,112.90 crore in Q4 March 2019 over Q4 March 2018. The result was announced during trading hours today, 17 May 2019.

Aurobindo Pharma tumbled 7.53%. The company said it has received letters from the US Food and Drug Administration (USFDA) classifying the inspections concluded at the company's API facilities of Unit I and XI and intermediates facility of unit IX in February 2019 as Official Action Indicated (OAI). The company has already submitted its initial response to USFDA. The company is sending further updates on the committed corrective actions. The company is confident that these OAI classifications will not have an impact on disruption of supplies or the revenue from operations of these facilities. The announcement was made before trading hours today, 17 May 2019.

Auto stocks jumped. Ashok Leyland (up 4.26%), Eicher Motors (up 3.31%), Escorts (up 3.30%), Hero MotoCorp (up 2.38%), Mahindra & Mahindra (up 1.81%), Maruti Suzuki India (up 1.22%) and Tata Motors (up 0.68%), edged higher. TVS Motor Company fell 0.65%.

Bajaj Auto rose 3.30%. The company's profit after tax rose 21% to Rs 1306 crore on 10% increase in turnover (net) to Rs 7828 crore in Q4 March 2019 over Q4 March 2018. The result was announced during trading hours today, 17 May 219.

IT shares declined. HCL Technologies (down 1.15%), TCS (down 0.62%) and Tech Mahindra (down 0.27%), edged lower.

IT major Infosys fell 1.42%. The company announced yesterday, 16 May 2019, that its board of directors has approved the Infosys Expanded Stock Ownership Program 2019 that links long term employee incentives with shareholder value creation. Subject to shareholder approval, this unique plan proposes to allocate 50 million shares (or 5 crore shares) equating 1.15% of the company's equity shares to a broad base of employees, which will vest on challenging performance criteria.

This program builds on the strong legacy of meritocracy that was established by the founders, and strengthens the company's efforts towards wealth creation for employees, enhanced shareholder returns and delight for customers. The company has been a pioneer in India, rewarding its employees through stock ownership programs starting in 1994, including the 2015 Incentive Compensation Plan. The Infosys Expanded Stock Ownership Program 2019, under which grants will vest based on performance, aims to align employee interest with shareholder value creation, incentivize, attract and retain key talent, and reward employee performance with ownership.

The grants allocated to employees over a period of seven years will vest based on challenging performance criteria of a) relative Total Shareholder Return (TSR) against an industry peer group, b) relative TSR against domestic and global indices and c) operating lead performance metrics such as total revenue and digital revenue growth, and operating margins.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 70.15, compared with closing of 70.035 during the previous trading session.

In global commodities markets, Brent crude oil futures edged higher. Brent for July 2019 settlement was up 60 cents at $73.22 a barrel.

Overseas, shares in Europe traded lower while Asian shares reversed early gains and ended lower on Friday amid signs of an escalation in Sino-US trade tensions. Market sentiment has been hurt by US government's move to block China's Huawei Technologies from buying vital American technology, drawing a sharp rebuke from Beijing.

US stocks rose on Thursday after strong earnings from Walmart and Cisco Systems and positive economic data helped quell some of the fears surrounding the ongoing US-China trade war.

On the data front, the Commerce Department said housing starts rose by 5.7% in April to a seasonally adjusted annual rate of 1.235 million. Weekly jobless claims, meanwhile, fell to 212,000 last week. Further, the Philadelphia Fed manufacturing index in May rose to a four-month high of 16.6 after registering 8.5 in April. Any reading above zero indicates improving conditions.

Quick Wrap: Nifty Media Index rises 3.53%, NIFTY jumps 1.33%
17-May-2019 (16:00)
Market ends with modest gains
16-May-2019 (16:51)
Quick Wrap: Nifty Media Index gains 2.26%
16-May-2019 (16:00)
Sensex, Nifty register modest losses
15-May-2019 (16:45)
Quick Wrap: Nifty Media Index falls 3.74%
15-May-2019 (16:00)
Market snaps nine-day losing trend
14-May-2019 (16:48)
Quick Wrap: Nifty PSU Bank Index gains 2.85%
14-May-2019 (16:00)
Sensex, Nifty slide on weak global stocks
13-May-2019 (16:43)
Quick Wrap: Nifty PSU Bank Index registers a drop of 5.00%, NIFTY Crashes 1.16%
13-May-2019 (16:00)
Sensex settles below 37,500
10-May-2019 (16:31)
Quick Wrap: Nifty PSU Bank Index rises 2.55%
10-May-2019 (16:00)
Market extends recent losses on rising trade war concern
09-May-2019 (17:03)
Quick Wrap: Nifty Media Index rises 3.58%
09-May-2019 (16:01)
Shares dive as US-China trade fears grow
08-May-2019 (16:55)
Quick Wrap: Nifty Media Index declines 4.53%, NIFTY Tumbles 1.20%
08-May-2019 (16:00)
Nifty settles below 11,500 mark
07-May-2019 (16:32)
Quick Wrap: Nifty Media Index falls 2.74%
07-May-2019 (16:00)
Stocks tumble after Trump renews China tariff threat
06-May-2019 (16:31)
Quick Wrap: Nifty Media Index falls 2.18%
06-May-2019 (16:00)
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