Nifty above 11,040; Greenlam Industries rallies 7%
12/09/2019 11:36
The frontline benchmark indices are trading flat with positive bias in the late morning session on Thursday. Sectoral indices, led by metal, media, pharma, FMCG are trading in green except IT.

On the corporate front, the shares of Greenlam Industries jumped 7 per cent after the company expanded its manufacturing capacity of laminates at Nalagarh unit, Himachal Pradesh, to manufacture additional 1.6 million laminates sheets per annum. Now the expanded capacity is operational. The company said the expansion has the potential to generate revenue of Rs 125 crore per annum on full capacity utilization.

On the flip side, the shares of SBI Life Insurance Company dipped 1.6 per cent to Rs 792 after the two-day offer-for-sale of stake by SBI opened. The insurance company, on September 11, said State Bank of India proposed to sell up to 3.5 crore equity shares—representing 3.50 percent of the total paid-up equity-on September 12-13.

At 11:26 hours, the SENSEX was trading at 37297.28 up by 26.46 points or by 0.07 per cent and then NSE Nifty was at 11040.9 up by 5.2 points or by 0.05 per cent. The BSE Sensex touched intraday high of 37435.15 and intraday low of 37254.99 The NSE Nifty touched intraday high of 11081.75 and intraday low of 11025.95.

The top gainers of the BSE Sensex were ICICI Bank Ltd. (Rs. 405.55,+2.84%), IndusInd Bank Ltd. (Rs. 1396.05,+1.78%), Tata Steel Ltd. (Rs. 373.50,+1.74%), Housing Development Finance Corporation Ltd. (Rs. 2099.90,+1.36%), Oil And Natural Gas Corporation Ltd. (Rs. 127.00,+1.03%), among others.

The top losers of the BSE Sensex were YES Bank Ltd. (Rs. 69.10,-3.49%), Tata Motors Ltd. (Rs. 59.45,-3.49%), Tata Motors Ltd. (Rs. 130.65,-2.75%), Maruti Suzuki India Ltd. (Rs. 6488.90,-1.66%), NTPC Ltd. (Rs. 122.55,-1.65%), among others.

Among sectors, Metal index was at 9039.36 up by 58.97 points or by 0.66%. Jindal Steel & Power Ltd. (Rs. 110.30,+2.60%), Tata Steel Ltd. (Rs. 373.50,+1.74%), Hindalco Industries Ltd. (Rs. 196.00,+1.32%), Steel Authority of India (SAIL) Ltd. (Rs. 34.40,+0.73%), Coal India Ltd. (Rs. 197.05,+0.31%),.

On the flip side, TECk index was at 7709.48 down by -54.84 points or by -0.71%. Larsen & Toubro Infotech Ltd. (Rs. 1607.50,-2.00%), Oracle Financial Services Software Ltd. (Rs. 2955.05,-1.78%), Dish TV India Ltd. (Rs. 23.05,-1.71%), Bharti Airtel Ltd. (Rs. 349.75,-1.55%), Bharti Infratel Ltd. (Rs. 250.40,-1.24%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2262 , shares advanced were 1368 while 772 shares declined and 122 were unchanged.