HDFC Bank saw late surge, up 1.8 percent. Source-based reports (after market hours) indicated that the bank sent fresh petition to government for raising FII investment limit to 74 percent. It is learnt that the bank in petition reiterated that HDFCâs stake in bank is not foreign.
Tech Mahindra and HCL Technologies topped the buying list in the Nifty, up 3.66 percent and 3 percent, respectively followed by Hindalco Industries, State Bank of India, PNB, Infosys, HDFC Bank and Axis Bank with 1-2.6 percent.
Hindalco and SBI are still top gainers, followed by Infosys, TCS and HDFC Bank. Coal India, HDFC, Bharti Airtel, Dr Reddy's Labs and Bajaj Auto are among laggards.
Bajaj Hindusthan, Balrampur Chini, Dwarikesh Sugar, Dhampur Sugar, Shree Renuka Sugars, Simbhaoli Sugar and Triveni Engineering rallied 4-6 percent after the government raised sugar import duty to 25 percent from 15 percent.
The market is still celebrating with new record highs. The Sensex is up 124.22 points or at 26484.33 and the Nifty is up 33.65 points at 7924.75. About 1403 shares have advanced, 1071 shares declined, and 80 shares are unchanged.
United Spirits dropped nearly 4 percent as the National Stock Exchange has decided on Thursday to remove the stock from Futures and Options segment with effect from September 19. Earlier the exchange also decided to remove the stock from CNX Nifty from same day.
Axis Bank, TCS, HDFC Bank, Hero Motocorp and Tata Power are top gainers in the Sensex. Among the losers are Sun Pharma, MM and Bharti Airtel.
Bank Nifty rallied more than a percent. Punjab National Bank topped the buying list among largecap banks, up nearly 4 percent followed by State Bank of India and Bank of Baroda with over 2 percent. HDFC Bank and Axis Bank rose over a percent but rival ICICI Bank closed flat.
Autos and banks kept the uptrend intact. Bajaj Auto, SBI, MM, Sun Pharma and HDFC Bank were top gainers in the Sensex. Among the losers were NTPC, Sesa Sterlite, Tata Steel, Dr Reddy's Labs and Hindalco.
Asian markets trade under pressure after China manufacturing PMI dropped to a 3-month low. European markets, however, opened with a slight positive bias as investors await positive cues from the Jackson Hole meet.
The BSE Midcap and Smallcap indices jumped 0.7 percent each. Advancing shares outnumbered declining ones by a ratio of 1581 to 1011 on the Bombay Stock Exchange.
Bajaj Auto, SBI, Axis Bank, MM and GAIL are top gainers in the Sensex. Among the losers are Dr Reddy's Labs, Hero MotoCorp, Sesa Sterlite and HDFC.
Shares of State Bank of India, ONGC, Axis Bank, Bajaj Auto and GAIL were prominent gainers followed by TCS, LT, HDFC Bank, Reliance Industries, Tata Motors, Maruti Suzuki, and Mahindra and Mahindra with 0.4-0.7 percent.
Tata Motors, TCS, Tata Power, ITC and MM are top gainers while Sesa Sterlite, Tata Steel, Cipla, Hero MotoCorp and Bharti Airtel are among the laggards in the Sensex.
State-run ONGC was the top loser among largecaps, down 2.8 percent followed by ITC, Reliance Industries, Tata Motors, Larsen and Toubro, HDFC, State Bank of India, Axis Bank and Mahindra and Mahindra with 1-1.5 percent.
The debt-ridden infrastructure company is in talks to sell its Babandh power plant in Odisha, reports CNBC-TV18 quoting unnamed sources.
GMR Infrastructure signed a memorandum of understanding with Japan Bank for International Cooperation (JBIC) for providing financial assistance to Japanese companies investing in Infrastructure projects of GMR Group.
Shares of top telecom operators Bharti Airtel and Idea Cellular gained more than 4 percent intraday while rivals Reliance Communications and Tata Teleservices gained 3-3.5 percent.
Here are top buzzing stocks to watch on Sep 2 - Grasim, Ultratech, ACC, Cipla, ADF Foods, Elecon Engg, Radico Khaitan, Sona Koyo, Setco Automotive and Justdial.
Infrastructure development company SPML has won new orders worth Rs 1232.3 crore from Uttar Pradesh Jal Nigam, Agra and Sardar Sarovar Narmada Nigam, Gandhinagar.
With the strength from the recent volume data, Barclays raised volume growth estimates to 12.4 percent for FY15 and to 15.1 percent for FY16.
Though analysts are impressed by its earlier- than-expected launch, most of them have not yet upgraded Cipla yet. Credit Suisse maintains a neutral rating on it stating base case is already priced in. According to the brokerage, Germany and Sweden are small markets but the launch signifies approval in the UK could be expected by FY15-end.
World's largest two-wheeler maker Hero Motocorp sold 5,58,609 units of two-wheelers in August, registering growth of 21 percent over the corresponding month of previous year.
India's second largest commercial vehicle maker sold 8,331 units in August, increased from 7,139 units in a year-ago period. The month-on-month growth in sales was 6 percent.
The Royal Enfield maker sold 26,643 units in August compared to 16,062 units in same period last year supported by models with engine capacity upto 350cc as well as exceeding 350cc.
Government today said the under-recovery on high speed diesel (HSD) applicable for first fortnight of September effective today will go down to Rs 0.08 per litre. This was Rs 1.78 per litre during second fortnight of August 2014.
Here are few top buzzing stocks picked by CNBC-TV18's analysts in trade today. We have Hindalco, JSPL, Maruti Suzuki, Eicher Motors, Hero MotoCorp, IRB Infrastructure, Wockhardt, Sun TV, Mafatlal Industries, Elecon Engineering and ADF Foods.
Citi cites "expensive valuation, moderate return ratios and high leverage" .
Two drugs -- WCK 771 and WCK 2349 -- have received QIDP status, which allows fast-track review of the drug application by the US Food and Drug Administration (USFDA), Wockhardt said in a statement. This is the first instance of an Indian pharmaceutical company receiving QIDP status, it added.
India's largest car maker sold 1,10,776 lakh units in August, up 27 percent compared to 87,323 units in same period last year and up 9 percent compared to 1.01 lakh units in previous month.