HDFC twins, banks lift Sensex 86 pts, Nifty over 11850 in volatile session

HDFC twins, banks lift Sensex 86 pts, Nifty over 11850 in volatile session

Mumbai, Jun 7: Benchmark indices ended Friday’s volatile session with marginal gains, lifted by HDFC twins and bank stocks amid weakness in pharma counters.
The S&P BSE Sensex rose 86 points, or 0.2 per cent, to 39,616, with IndusInd Bank, Bajaj Finance, Mahindra & Mahindra, State Bank of India, and ICICI Bank being the top gainers. Only 12 of the 30 BSE constituents ended the day in the green.
The broader Nifty50 index added 27 points, or 0.23 per cent, to 11,871. About 1058 shares advanced, 1390 shares declined, and 146 shares remained unchanged on the NSE.
The Nifty sectoral indices traded mixed, with Nifty Fin Service index gaining the most 0.9 per cent, while the Nifty Pharma index slipped the most 1.2 per cent.
In the broader markets, the S&P BSE MidCap index dipped 25 points, or 0.17 per cent, to 14,906, while the S&P BSE SmallCap index was down 16 points , or 0.1 per cent, to 14,657.
BUZZING STOCKS
Shares of Eros International Media on Friday plunged 20 per cent to hit a new low of Rs 42.50 despite the company’s clarification on credit rating downgrade by CARE Ratings, which had cut its long-term loan facilities ratings from ‘BBB-’ to ‘D’.
Shares of Indiabulls Real Estate (IBREL) rallied as much as 15 per cent to Rs 151 apiece on the BSE on Friday after the promoters sold 14 per cent of their holding in the company through open market. However, the stock ended the day 2.58 per cent lower to Rs 128.20.
Shares of Manappuram Finance slipped 10 per cent in the intra-day trade to quote Rs 124 apeice on the BSE on Friday after markets regulator, Securities and Exchange Board of India (Sebi), issued notice to five Asset Management Companies (AMCs) alleging insider trading in favour of the company. The stock, however, pared some of its losses later in the day to settle at Rs 131.90, down 4.18 per cent.
Top gainers in the BSE pack Friday included IndusInd Bank, Bajaj Finance, M&M, SBI, ICICI Bank and Vedanta, rising up to 1.90 per cent.
On the other hand, Yes Bank, PowerGrid, Sun Pharma, Coal India, Bajaj Auto, ONGC and RIL were among the top losers, dropping up to 2.37 per cent.
The Indian rupee depreciated 20 paise to 69.48 against the US dollar.
Meanwhile, other Asian bourses ended on a mixed note, while Europe was trading in the green in opening deals.
Brent crude futures, the global oil benchmark, rose 1.20 per cent to $62.41 per barrel.