Sensex off day's high, Nifty holds 9950; Metals continue to shine
Equity benchmarks opened last day of the week on a positive note amid consolidation, with the Nifty reclaiming 9,950 level.The 30-share BSE Sensex was up 89.87 points at 31,752.61 and the 50-share NSE Nifty gained 23.75 points at 9,953.65.
Nifty Midcap hit record high. About 784 shares advanced against 247 declining shares on the BSE. Future Market Networks, Future Enterprises and Future Consumer surged up to 10 percent.
The Indian rupee appreciated sharply in morning trade on dollar weakness.It was trading at 63.87 against the US dollar, up 17 paise from Thursday's closing of 64.05.
ICICI Lombard General Insurance Company set Rs 651-661 as the price band for its initial public offering (IPO), which will make it a Rs 5,700-crore issue.
"The price band has been set at Rs 651-661. At the upper end of the band, it will raise Rs 5,700 crore," a source said late in the evening.
The issue, the first by any general insurance company, hits the market on September 15. The roadshows are kicking off tomorrow in the financial capital.
Shares of Global Vectra Helicorp and Plastiblends India declined 3-10 percent intraday on the back of poor Q1 numbers.
Plastiblends India has reported 41 percent decline in its Q1FY18 at Rs 5.2 crore versus Rs 8.8 crore, in the same quarter last year.Revenue slipped 2 percent at Rs 144 crore versus Rs 147 crore.
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