Sensex gains over 100 pts on positive global cues; ONGC leads
Equity benchmarks started off last day of the week on a positive note, with the Nifty reclaiming 10,450 level.
The 30-share BSE Sensex was up 73.79 points at 33,830.07 and the 50-share NSE Nifty gained 21.50 points at 10,461.80.
About 907 shares advanced against 260 declining shares on the BSE.
TCS was up nearly a percent after report indicated that the company renewed USD 2.25 billion deal with Nielsen till 2020 and also after Accenture earnings.
Aurobindo Pharma, L&T, Vedanta, Eicher Motors, HDFC Bank and UPL were early gainers while BPCL, Bajaj Auto, HCL Technologies, Bharti Infratel, Power Grid and ICICI Bank were losers.
Reliance Infrastructure, NHPC, PVR, Reliance Naval, Britannia Industries, DB Realty, Aditya Birla Money and Religare Enterprises rallied 2-20 percent.
HDFC announced sale of its subsidiaries HDFC Realty and HDFC Developers to Quikr India in an all stock deal that will give the financial services conglomerate a stake in the online classified platform now valued at over Rs 10,000 crore.
According to sources, HDFC will get over 3 percent stake in Quikr India in lieu of sale of its stake in the two subsidiaries for Rs 357 crore.
The rupee traded higher by 4 paise at 64.02 against the dollar today.In the opening session, the domestic unit fell by 2 paise to 64.08.
Yesterday, it had ended higher by 5 paise at 64.06 because of greenback selling by exporters and banks.
The Reserve Bank has said gross non-performing assets in the system shot up to 10.2 percent as of the September quarter, primarily led by private sector lenders, and has warned that the situation will only aggravate from there, "elevating" the systemic risks.
In the half-yearly Financial Stability Report (FSR) put out late this evening, the central bank, however, said the financial system remains "stable" overall though it has pegged the bad loans spiking to 10.8 percent by the March quarter and to 11.1 percent by September 2018.
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