Sensex rises by 118.75 points in week ended July 5, 2019

Sensex rises by 118.75 points in week ended July 5, 2019

Agency News

Mumbai, Jul 6 : The Benchmark index of the Bombay Stock Exchange (BSE) rose by 118.75 points or 0.30 per cent to settle at 39,513.39 in a highly volatile week under review.

Snapping their four-session rising streak, stocks dropped on Friday after the Budget proposal to raise public shareholding threshold fanned liquidity fears.

Nifty too rose 22.30 points or 0.19 per cent to settle at 11,811.15. The BSE Mid-Cap index fell 82.69 points or 0.56 pc to settle at 14,725.65. The BSE Small-Cap fell 97.5 points or 0.68 pc to settle at 14,141.83.

Domestic stocks snapped the two-day losing streak and ended with strong gains on Monday, July 1, 2019, mirroring positive global stocks. BSE Sensex rose 291.86 points to 39,686.50.Nifty rose 76.75 points to 11,865.60.

Key benchmark indices ended higher for the second consecutive trading session on Tuesday, July 2, 2019.Sensex rose 129.98 points to 39,816.48.Nifty rose 44.70 points to 11,910.30. Key indices ended higher for the third consecutive trading session on Wednesday, July 3,2019. Sharp gains were capped due to weakness in other Asian stock markets. Sensex rose 22.77 points to 39,839.25. Nifty too advance 6.45 points to 11,916.75.

Local stocks advanced for the fourth straight trading session on Thursday,July 4, 2019. The sentiment was boosted by economic survey pegging the growth rate for the current fiscal at 7 per cent, marginally up from the five-year low of 6.8 per cent recorded in the previous fiscal.

Sensex rose 68.81 points to 39,917.65. Nifty rose 30 points to 11,946.75.

Equity markets ended lower after a volatile trading session on Friday, July 5, 2019, as the Union Budget failed to lift sentiment.

Sensex fell 394.67 points to 39,513.39. Nifty fell 135.6 points to 11,811.15.

IndusInd Bank by 8.64 pc, Housing Development Finance Corporation by 3.95 pc, Kotak Mahindra Bank by 2.78 pc were the top Sensex gainers, while major Sensex losers were Yes Bank by 18.86 pc, Sun Pharmaceutical Industries by 6.46 pc, Vedanta by 6.17 pc.

State Bank of India rose 2.69 pc. The central board of the bank approved raising AT 1 capital upto Rs 7000 crore by way of issuance of Basel-III compliant debt instrument in rupee and/or any other convertible currency through a public offer or private placement to overseas and/or Indian investors (Dollar AT 1/Masala AT 1) in such number of tranche(s), at such time as may be considered appropriate and on such coupons, as may be decided at the time of actual issuance during FY20. The bank shall obtain Gol concurrence in this regard.

Bharti Airtel rose 5.24 pc. Tata Teleservices (TTSL) and its unit on Monday, 1 July 2019, completed the merger of their consumer business with that of Bharti Airtel and unit Bharti Hexacom.

Mahindra & Mahindra (M&M) fell 2.07 pc. M&M reported 6 per cent decline in total sales to 42,547 units in June 2019 over June 2018. The total domestic sales fell by 5% to 39,471 units while the total exports decreased by 11 pc to 3076 units during the stated period.

ONGC shed 3.88 pc. ONGC announced after market hours on Monday, 1 July 2019, that it signed an MoU with Indian Oil Corporation (IOC) for Co2 based Enhanced Oil Recovery (EOR) by injecting Co2 captured from IOC's Koyali refinery. The MoU is aimed to establish a framework for mutually beneficial cooperation in the area of Co2-EOR as a mode of CCUS. The common objective is to address some of the biggest challenges of our country in particular & world at large, namely energy security and climate change.

Tata Motors fell 1.51 pc. Tata Motors' commercial and passenger vehicles business sales in the domestic market witnessed a drop of 14 pc at 49,073 units compared to 56,773 units sold over last year as subdued demand continued in June 2019. The announcement was made after market hours on July 1, 2019. (UNI)