The Sensex ended 259 points or 0.97 per cent higher at 26,999.72 and Nifty advanced 83.75 to shut shop at 8,287.75.
3:03 p.m.: Indian sharesrose more than 1 percent on Thursday, erasing their 2.2 percent losses suffered on Friday after Britons unexpectedly voted to exit the European Union, as investors focused on improving prospects of the domestic economy.
2:35 p.m.: Power stocks witness strong buying interest. The BSE Power index surges 2 per cent; GMR Infra, BHEL, Suzlon Energy, NTPC, Reliance Infra, Siemens, Reliance Power, PTC and Crompton Greaves were also among the gainers, up 1.5-4.3 per cent each.
2:23 p.m.: From Nifty basket of shares, 50 were advancing while only one stock was the loser. BHEL was the top Nifty gainer, up 4.5 per cent to Rs 127.45. Grasin Industries, Zee Entertainment, Dr Reddy’s Labs, Axis Bank, NTPC, Tata Motors, ICICI Bank, Power Grid and Yes Bank were also among the gainers, up 2-3.4 per cent each.
2:13 p.m.: Buying visible across the sectors. Banking, power, auto, realty, FMCG, metal and capital goods indices advance over 1 per cent each.
2:08 p.m.: The stock markets continue to witness strong buying interest. Nifty trades above its crucial psychological level of 8,300 for first time in 2016 and Sensex surges 316 points to 26,056.
2:03 p.m.: Ever since Brexit referendum result came out on Friday, our market fell in sympathy with global markets and the recovery in markets is also due to a rally in global markets, says Sanjay Sinha of Citrus Advisors.
1:51 p.m.: Stock markets continue to trade on a strong note. Sensex surges nearly 300 points to 27,032 and Nifty hits fresh 2016 high of 8,296 amid broad-based rally.
1:40 p.m.: Shares of multiplex operators PVR and Inox Leisure jumped as much as 10 per cent and 7.2 per cent each respectively after the government gave its nod to a model law that allows shops, malls and cinema halls, among other establishments, to run 24×7 throughout the year.
Following this development, shares of PVR and Inox Leisure came in high demand. As many as 53,000 PVR shares changed hands compared with an average of 33,000 shares traded daily in the past two weeks on the BSE. Inox Leisure shares also saw a spurt in volume with 98,000 shares changing hands compared with its two-week average of 23,000 shares.
1:28 p.m.: Banking stocks witness strong buying interest. The Nifty Bank index surges 1.2 per cent or 211 points to 17,901; Axis Bank was the top gainer from this space, up 2.63 per cent to Rs 531.45. ICICI Bank, Yes Bank, Federal Bank, State Bank of India and Bank of India were also up 1.6-2.35 per cent each.
1:22 p.m.: ICICI Bank, Tata Motors, Axis Bank, State Bank of India, HDFC, Dr Reddy’s Labs and Larsen & Toubro were top Sensex movers. Gains in these shares contributed 129 points to the Sensex.
1:01 p.m.: Select IT stocks were witnessing selling pressure. Infosys, Mind Tree, Mphasis, Cyient Ltd, Tanla Solutions, Eclerx Services and Nelco were among the laggards.
12:49 p.m.: The market breadth was positive as 1,523 shares were advancing while 856 were declining.
12:15 p.m.: The stock markets came off intraday highs as expiry of derivative contracts for the Month of June is due today. The Sensex was up 161 points at 26,901 and Nifty was at 8,253, up 49 points.
12:10 p.m.: Uttam Galva Steels shares surged as much as 20 per cent on Thursday amid high volumes to hit its maximum intraday limit of Rs35.30. Trading volumes in the counter increased to 6.18 lakh as of 10.57 a.m. on Bombay Stock Exchange compared to its 2-week average volume of 39,000 shares.
Including today’s gains the stock has rallied for the fourth straight day. In last four trading sessions the stock has jumped nearly 29 per cent.
11:47 a.m.: Nifty 8,300 strike price call option was the most active options contract on the National Stock Exchange (NSE). The premium on the contract jumped 66 per cent to Rs 5.55 and as many as 2.84 million shares were added to the open interest of 9.84 million shares ahead of F&O derivatives expiry for the month of June which is due later in the day.
11:32 a.m.: Shares of Sagar Cements jumped as much as 5.6 per cent to hit intraday high of Rs 710 after the company announced plans to acquire a grinding unit owned by Toshali Cements Private Limited.
Hyderabad-based Sagar Cements in a statement issued to the Bombay Stock Exchange said, “The board has accorded its ‘in principle’ approval for the acquisition of the entire assets in the grinding unit of 181,500 tons per annum capacity in Bayyavaram, Andhra Pradesh, owned by M/s Toshali Cements, Hyderabad, at a cost of around Rs 60 crore (including transaction cost).”
11:09 a.m.: Majesco shares gained as much as 4 per cent on Thursday after the insurance software solutions provider announced strategic partnership with US-based iSIGN Solutions, a supplier of electronic signature and other software solutions.
Through this strategic partnership, Majesco will use iSIGN’s electronic signature solution to deliver its solutions to insurance customers enhancing their digital footprint, Majesco said in a release to Bombay Stock Exchange.
10:58 a.m.: Real estate stcks were witnessing good buying interest for the second consecutive day. The BSE Realty index advanced 1.6 per cent; HDIL was the top gainer from this space, up 3.73 per cent to Rs 103. Indiabulls Real Estate, Sobha Ltd, Godrej Properties, DLF, Prestige Estates, Unitech and Phoenix Mills were also among the gainers, up 0.6-2.8 per cent each.
10:38 a.m.: Uttam Galve Steels was the top gainer from the small-cap space, up 14 per cent to Rs 34.15. Gujarat Narmada Valley Fertilizers, Vikas WSP, Munjal Auto Industries, GTL Ltd, Indag Rubber, Setco Automotive and GTL Infra were also among the gainers from the small-cap space.
10:24 a.m.: Shares of Binani Industries fell as much as 5 per cent to hit intraday low of Rs 82.60 after the Bombay High Court in an order asked secured creditors of its subsidiary Edayar Zinc to seek symbolic possession of immovable property.
The Bombay High Court in an order passed on June 23 disposed the writ petition filed by Binani Industries subsidiary Edayar Zinc and ordered in favour of secured creditors to seek only symbolic possession of immovable property of the company.
10:10 a.m.: Hike in salaries of the government employees will have a positive impact in terms of boosting demand and push economic growth, analysts say.
Bank of America Merrill Lynch says it sees a rise in consumption of higher value durables after the implementation of the pay hike. The brokerage also sees an increase in staples consumption.
10:00 a.m.: Reliance Communications was the top gainer fromn the mid-cap space. The stock jumped 3.4 per cent to Rs 50.25. JP Associates, Shriram Transport Finance, Tata Communications, M&M Financial Services, Bajaj Holdings, MRPL and Bharat Forge were also among the gainers, up 2-3.2 per cent each.
9:22 a.m.: Sensex rose over 200 points while the 50-share Nifty moved above its crucial psychological level of 8,250 on the back of buying in banking, IT and FMCG heavyweight shares amid a rally in global markets.
As of 9:20 a.m., the Sensex traded 211 points higher at 26,951.54 and Nifty advanced 56 points to 8,260.
Meanwhile, Asia stocks rose on Thursday, tracking an overnight rally on Wall Street, while the safe-haven Japanese yen retreated as global markets regained a semblance of calm after last week’s Brexit shock.
Japan’s Nikkei advanced 0.86 per cent, Hong Kong’s Hang Seng rose 1.62 per cent and South Korea’s KOSPI jumped 0.64 per cent.
Overnight, banks and other financial companies led another broad surge in U.S. stocks Wednesday, turning the Dow Jones industrial average and the Standard & Poor’s 500 index slightly positive for the year.
It was the second rally in two days for the stock market, which had been rattled since Friday by investor concerns over Britain’s vote to leave the European Union.
The Dow gained 284.96 points, or 1.6 percent, to 17,694.68. The S&P 500 index rose 34.68 points, or 1.7 percent, to 2,070. The Nasdaq composite added 87.38 points, or 1.9 percent, to 4,779.25.
Back home, foreign institutional investors bought shares worth Rs 102.91 crore while domestic institutional investors sold shares worth Rs 20 crore on Thursday.
In early trading, buying interest was seen in across the board. Realty, banking, metal, FMCG and auto stocks were among the leading gainers on the stock exchanges.
From the Nifty basket of stocks, 50 were advancing while only one stock was the loser.
BHEL, Hindalco, Hindustan Uniliver, ICICI Bank, Dr Reddy’s Labs, State Bank of India, Tata Motors, Axis Bank, HDFC and NTPC were among the top gainers, up 1-2 per cent each.
The broader markets were in-line with benchmark indices. The BSE mid-cap and small-cap indices advanced 0.7 per cent each.
8:56 a.m.: Indian markets are likely to open see a gap-up opening today, tracking gains in global markets. Nifty futures trading on Singapore Stock Exchange were up 52 points or 0.64 per cent at 8,260. However, high volatility is expected in market amid expiry of June derivative contracts.
The BSE Sensex and Nifty gained for third straight day on Wednesday after the Cabinet approved pay hikes as per the recommendations of the Seventh Pay Commission, which is likely to boost consumer spending and support the GDP growth. The Nifty50 index closed above the 8,200 mark yesterday.
Analysts say it is crucial for Nifty to hold the 8,200 level for further gains to continue in the market. Adding to sentiments foreign investors turned net buyers after three days of selling. They bought cash shares worth Rs 103 crore on Wednesday.
Meanwhile, Asian shares traded with strong gains today tracking overnight gains on Wall Street. The Hang Seng index was up 1.7 per cent, while Nikkei index traded nearly 1 per cent higher. The Dow Jones Index closed 285 points higher on Wednesday as financials rebounded.