Sensex rises over 40 points; IT and realty gain - Livemint

At 12.08pm, the Sensex was trading up 0.2%, or 44.07 points, at 22,461.87 points. Photo: AFP

Mumbai: The 30-share bellwether BSE Sensex on Friday was trading higher by 40 points led by shares of IT, realty and healthcare firms.

At 12.08pm, the Sensex was trading up 0.2%, or 44.07 points, at 22,461.87 points, while the National Stock Exchange's (NSE's) broader 50-share Nifty was trading higher by 0.2%, or 13.15 points, at 6,709.55 points.

The gainers included Tata Power Co. Ltd that was trading up 2.31% at Rs.79.85 and Infosys Ltd that rose 1.23% to Rs.3,218.25.

Among the losers, Hindalco Industries Ltd was trading at Rs.131.30 on BSE, down 2.52%, from its previous close after Central Bureau of Investigation (CBI) questioned former coal secretary P.C. Parakh in connection with a case of allegedly abusing his official position to grant a Odisha-based coal block to Hindalco. Larsen and Toubro Ltd (L&T) was down 1.78% to Rs.1,272.45.

The BSE IT, realty and healthcare were the top sectoral gainers up 1.05% each. The BSE tech and Bankex were, up 0.83% and 0.45%, respectively. The BSE capital goods was the top loser down 1.2%. The BSE metal index down 0.95%.

Mahindra and Mahindra Ltd (M&M) fell 1.61% to Rs.1,054.90 after it reported 15% drop in its sales to 34,107 units in April despite excise cut.

Maruti Suzuki India Ltd was trading at Rs.1,885, down 1.72%, after it reported 12% fall in domestic sales for April. The company has stripped three chief operating officers (COOs) of their executive powers, according to three people familiar with the matter. Two of the executives were in charge during the labour strike that led to an outbreak of violence at its Manesar plant in 2012.

Shriram City Union Finance Ltd was trading at Rs.1,226 on BSE, up 3.64%, from its previous close after it sold nearly 10% stake to Piramal Enterprises Ltd for Rs.789 crore. The board of Shriram City approved the issuance of 6.6 million equity shares to Piramal Enterprises at a price of Rs.1,200 each.

Multi Commodity Exchange of India Ltd (MCX) was trading at Rs.548.75 on BSE, up 2.85%, from its previous close ahead of its board meeting. Financial Technologies India Ltd (FTIL) was trading at Rs.307.1 on BSE, down 2.74%.

Fulford India Ltd was trading at Rs.1194.95 on BSE, up 10%, after its promoter Dashtag Ltd has made voluntary delisting offer at an indicative price of Rs.1,150. The pharmaceutical stock has rallied 74% in past four trading sessions from Rs.686 on 25 April, after the company made announcement.

Future Group shares were up. Future Retail Ltd was up 3.08% to Rs.135.60, Future Lifestyle Fashions Ltd was up 20% to Rs.96.50, Future Consumer Enterprise Ltd was up 4.34% to Rs.7.21 and Future Market Networks Ltd was up 4.99% to Rs.11.78.

3i Infotech Ltd, Godrej Properties Ltd, Grasim Industries Ltd, HeidelbergCement India Ltd, Hindustan Construction Co. Ltd, Pfizer Ltd, Reliance Capital Ltd, Reliance Communications Ltd and V-Guard Industries Ltd are some of the companies that will release their earnings for March quarter on Friday.

The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit and which gauges business activity in Indian factories but not its utilities, was at 51.3 in April, identical with the March level.

Since the beginning of this year, the BSE Sensex has gained 6.25%, while foreign institutional investors have bought $5.2 billion from local equity markets.

Asian markets were trading higher on Friday. China's Shanghai Composite was trading up 0.3%, Hong Kong's Hang Seng was up 0.7% while Japan's Nikkei Stock Average was down 0.19%.

Overnight, US markets closed marginally down. The Dow Jones Industrial Average ended down 0.13%, S&P 500 down 0.01% and Nasdaq Composite closed up 0.31%.

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