Sensex trades flat; Muthoot Finance climbs over 3%
14/03/2019 11:32

Indian benchmark indices pared initial gains in the late morning session on Thursday led by gains in IndusInd Bank, Yes Bank, Sun Pharma Industries, Asian Paints, Coal India and Axis Bank. Asian shares rose on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. Rupee has fallen in day's trade by 8 paise. It is currently trading at 69.62 per dollar. The shares of Muthoot Finance continued their upward journey, hitting new high of Rs 612, up 3.3 per cent on the BSE in intra-day trade on Thursday on expectation of healthy growth going forward. The stock of non-banking finance company has surged 26 per cent in past five weeks, despite the company reporting one per cent year-on-year (YoY) rise in net profit to Rs 485 crore on the back of by muted growth in the top-line and one-off taxes to the tune of Rs 22 crore in December 2018 quarter (Q3FY19).

At 11:19 hours, the SENSEX was trading at 37783.35 up by 31.18 points or by 0.08 per cent and then NSE Nifty was at 11349.65 up by 7.95 points or by 0.07 per cent. The BSE Sensex touched intraday high of 37907.78 and intraday low of 37737.31 The NSE Nifty touched intraday high of 11383.45 and intraday low of 11329.25.

The top gainers of the BSE Sensex were YES Bank Ltd. (Rs. 250.80,+2.64%), IndusInd Bank Ltd. (Rs. 1677.00,+2.49%), Sun Pharmaceutical Industries Ltd. (Rs. 465.45,+2.05%), Coal India Ltd. (Rs. 241.10,+1.09%), Bharti Airtel Ltd. (Rs. 340.85,+1.04%), among others. The top losers of the BSE Sensex were Power Grid Corporation of India Ltd. (Rs. 187.75,-3.50%), HCL Technologies Ltd. (Rs. 1011.45,-1.63%), Hero MotoCorp Ltd. (Rs. 2764.40,-1.49%), Tata Motors Ltd. (Rs. 180.30,-0.72%), ITC Ltd. (Rs. 292.80,-0.68%), among others.

Among sectors, HCS index was at 14157.73 up by 58.59 points or by 0.42%. Narayana Hrudayalaya Ltd. (Rs. 228.05,+4.23%), Sun Pharma Advanced Research Company Ltd. (Rs. 198.80,+2.82%), Sun Pharmaceutical Industries Ltd. (Rs. 465.45,+2.05%), Laurus Labs Ltd. (Rs. 370.00,+1.86%), Aurobindo Pharma Ltd. (Rs. 779.00,+1.83%),. On the flip side, Power index was at 1926.36 down by -22.8 points or by -1.17%. Power Grid Corporation of India Ltd. (Rs. 187.75,-3.50%), Reliance Infrastructure Ltd. (Rs. 125.45,-3.16%), Adani Power Ltd. (Rs. 50.65,-1.75%), CG Power and Industrial Solutions Ltd. (Rs. 41.25,-1.55%), Bharat Heavy Electricals Ltd. (Rs. 66.90,-1.47%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2360, shares advanced were 1041 while 1192 shares declined and 127 were unchanged.