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Equities propel on broad-based buying, cues from Asian markets

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Sensex

Mumbai, Feb 23: The key Indian equity indices on Friday closed at almost a week’s high levels as positive cues from the Asian markets, along with a strong rupee and value buying, uplifted investors’ sentiments.

According to market observers, easing worries of a rate-hike by the US Federal Reserve in the near term, coupled with healthy buying in almost all the sectors — led by metals, banking and healthcare stocks — added to the upward trajectory of the key indices.

The wider Nifty50 of the National Stock Exchange (NSE) edged higher by 108.35 points, or 1.04 per cent, to close at 10,491.05 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE settled near its day’s high of 34,167.60 points to close at 34,142.15 points — up 322.65 points, or 0.95 per cent, from its previous close.

The BSE market breadth was bullish with 1,899 advances and 831 declines.

The broader market indices outperformed the Sensex, with the S&P BSE mid-cap index closing higher by 1.47 per cent and the small-cap index by 1.54 per cent.

“Markets surged higher on Friday as the Nifty closed just below the 10,500 levels. The gains came on the back of positive Asian equity markets,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.

“It was also the first trading session of the derivatives March near-month series. The Sensex and the Nifty settled at over one-week high on broad-based buying,” Jasani added.

On the currency front, the Indian rupee strengthened by 31 paise to close at 64.73 against the US dollar from its previous close at 65.04.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 486.32 crore, while domestic institutional investors purchased stocks worth Rs 1,514.03 crore.

Vinod Nair, Head of Research, Geojit Financial Services, said: “Market rebounded amid value buying on beaten down sectors like PSU banks, metal and pharma.”

“Additionally, ease in fears on US Fed rate hike trajectory led the 10-year yield to fall, comforting investors’ sentiment,” Nair added.

All the 19 sub-indices of the BSE closed with gains, led by metals, banking and healthcare sectors.

The S&P BSE metal index rose by 469.96 points, banking index by 356.63 points and healthcare index by 266.85 points.

Major Sensex gainers on Friday were: Tata Steel, up 6.26 per cent at Rs 677.80; Sun Pharma, up 5.17 per cent at Rs 570.20; Yes Bank, up 2.28 per cent at Rs 323.60; Dr Reddy’s Lab, up 2.26 per cent at Rs 2,169.25; and Bharti Airtel, up 2.26 per cent at Rs 425.45.

The Sensex losers were: Asian Paints, down 1.29 per cent at Rs 1,101.90; Coal India, down 0.48 per cent at Rs 310.45; Infosys, down 0.42 per cent at Rs 1,155.65; Mahindra and Mahindra, down 0.22 per cent at Rs 719.30; and Hindustan Unilever, down 0.16 per cent at Rs 1,323.

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2018 Ducati Multistrada 1260 launched in India at Rs 15.99 Lakh

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2018 Ducati Multistrada 1260

New Delhi, June 18: Ducati India has just launched the 2018 Multistrada 1260 in the country at Rs 15.99 lakh (ex-showroom), while the Multistrada 1260 S has been priced at Rs 18.06 lakh (ex-showroom). Ducati India announced the launch through its social media on Tuesday.

The 1260 is the company’s flagship adventure-tourer and comes with a number of changes over the model it replaces. These updates include additional power, a revised chassis and new equipment.

The Multistrada gets a new 1,262cc, liquid-cooled, L-Twin motor. It produces 158hp at 9,500rpm, a 6hp increment over the 2017 Multistrada. Torque, too, has gone up by 1.5Nm, bringing the total up to 129.5Nm, which is delivered at 7,500rpm. The new engine features what Ducati calls Desmodromic Variable Timing (DVT), which, combined with Desmo valve actuation, results in good low-end torque. This tech also helps make the engine Euro-IV emission norms compliant.

The DVT on the Ducati Multistrada 1260 combines variable timing with desmo valve actuation which delivers an ideal combination of horsepower, low-rpm torque as well as meets Euro-4 emission norms. The Multistrada 1260 DVT engine is now capable of 160 PS at 9,500 rpm and 129.4 Nm at 7,500 rpm. However, it now gets a very flat torque curve, delivering 85 percent of peak torque from as low as 3,500 rpm, something ADV riders will greatly appreciate.

Internationally, the Multistrada 1260 is available in four variants, the 1260, 1260 S, the S D|air and the Pikes Peak – the last two will only come to India later, if at all.

To make the most of the new engine, the chassis has been retuned as well. The steering rake has been increased from 24 to 25 degrees, adding 5 mm of trail, and the swingarm is 48 mm longer.

This takes the wheelbase to 1,585 mm from 1,530 mm on the earlier model. The longer wheelbase should be able to facilitate more comfortable riding and better stability. The Multistrada 1260 has 48 mm inverted forks up front and a rear shock by Sachs, both fully adjustable.

The 1260 S also receives a new high-definition colour TFT display, navigation, semi-active Ducati Skyhook Suspension (DSS), as well as barrage of rider assist options including a vehicle hold control, as well as four riding modes – sport, touring, urban, and enduro.

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Weak global cues subdue equity indices; Sensex down over 200 points

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Sensex Nifty Equity

Mumbai, June 19: Weak global markets suppressed the key Indian equity indices on Tuesday afternoon with the benchmark 30-scrip Sensex of the BSE losing over 200 points so far.

Benchmark global markets were weighed down by signs of a resurgent trade war after US President Donald Trump on Monday reportedly threatened to impose tariffs on additional $200 billion worth of Chinese goods.

According market analysts, heavy selling pressure was witnessed in auto, metal and consumer durable stocks.

At 1.16 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 10,719.10 points, down 80.75 points or 0.75 per cent from the previous close of 10,799.85 points.

Similarly, the BSE Sensex, which had opened at 35,552.47 points, traded at 35,312.50 points (1.17 p.m.) — down 235.76 points or 0.66 per cent — from its previous session’s close of 35,548.26 points.

The Sensex has so far touched a high of 35,552.47 points and a low of 35,290.96. The BSE market breadth was bearish with 1,859 declines and 598 advances so far.

The top gainers on the Sensex were ONGC, HDFC Bank, Bharti Airtel, Asian Paints and ITC whereas Vedanta, Tata Motors (DVR) and Bajaj Auto, Adani Ports and State Bank of India were the major losers.

On the NSE, Gail, Bajaj Finance and HDFC Bank were the highest gainers while Vedanta, Hindalco Industries and Indian Oil Corp lost the most.

IANS
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Chanda Kochhar goes on leave, ICICI names Sandeep Bakhshi as COO

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New Delhi, June 19:ICICI Bank appointed Sandeep Bakhshi, who heads the bank’s life insurance arm, as chief operating officer.

The board of directors of ICICI Bank allowed its CEO Chanda Kochhar to go on leave until a probe into her role in an alleged conflict of interest in sanctioning loans to the Videocon Group was completed.

Bakhshi, who was the deputy MD of ICICI Bank before he was made the group’s insurance head, would run the bank during the absence of Kochhar.

All executive directors on the board of ICICI Bank and the executive management will report to him, the bank said.

Monday’s statement said Kocchar will remain in her role as MD and CEO of ICICI Bank and Bakhshi will report to her.

Earlier in the day, shares of ICICI Bank rose as much as 4 per cent, amid reports of reshuffle of top management. The stock gained 3.61 per cent to settle at Rs 292.50 on BSE. In intra-day trade, it surged 4.10 per cent to Rs 293.90.

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