03:30 pm Market closing:
S&P boosted investor sentiment
which spiked the market in last hour of trade before wrapping up for the
weekend. The Nifty ended at 7968.85, up 57.00 points while the Sensex was up
157.96 points at 26626.32. About 1585 shares advanced, 1376 shares declined,
and 89 shares were unchanged.
03:10 pm Global markets: The dollar held near a four-year
high against a basket of currencies on Friday, fuelled by the biggest yield
advantage over the euro in nearly 15 years as the Federal Reserve contemplates
hiking interest rates.
European equities fell to trade close to a one-month
low as a sharp sell-off in U.S. and Asian markets prompted caution among
investors on the last trading day of the week.
03:00 pm Market check: The market has surged on positive
sentiment. The Sensex is up 178.14 points at 26646.50 and the Nifty is up 60.80
points at 7972.65. About 1392 shares have advanced, 1485 shares declined, and
89 shares are unchanged. Sun Pharma, Hindalco, Axis Bank, Tata Steel and
M&M are top gainers in the Sensex. Among the losers are Dr Reddy's Labs,
GAIL, HDFC, Hero and Maruti.
02:42 pm Upgrade: Global rating agency Standard &
Poor's (S&P) has upgraded India's credit outlook to stable from negative.
S&P
said that CAD has improved in recent months post gold import curbs. The rating
agency sees India's FY15 CAD widening from low of 1.8 percent of GDP. S&P
earlier rated India as 'BBB-', the lowest in the investment grade, with a
negative outlook. Moody's assigns a 'Baa3' rating on India, with a stable
outlook. Fitch has affirmed India's long-term foreign and local currency issuer
default rating (IDR) at 'BBB-' with stable outlook, indicating low default
risk.
Don't
miss: JP Power rises 13%, sells 3 plants to JSW Energy
Equity
benchmarks continued to be rangebound in afternoon trade with the Sensex rising
32.52 points to 26500.88 and the Nifty advancing 12.25 points to 7924.10.
About 1162
shares have advanced, 1638 shares declined, and 85 shares are unchanged.
Shares of
Sun Pharma and Hindalco Industries topped the buying list, up 4-5 percent
followed by HDFC Bank, ONGC, L&T, Axis Bank, M&M, SBI, Tata Steel and
NTPC with 1-3 percent upside.
However, HDFC, ICICI Bank and Gail India were
top losers, down over 2 percent. ICICI Bank, TCS, HUL, Hero Motocorp and Maruti
fell 1-1.9 percent.
Petronet LNG, Godrej Industries, SBI, Sun
Pharma, Reliance Industries, ICICI Bank, Infosys and Tata Motors were most
active shares.
In the midcap space, Indiabulls Real, City
Union Bank, Bhushan Steel, IOB and Kaveri Seed rallied 4-7 percent while IIFL
Holdings, CRISIL, JK Cement, Rajesh Exports and Trinity Trade lost 5-9 percent.
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