Sensex, Nifty edge up; IT stocks jump

Sensex up by 24 points

Indian shares ended almost flat on Thursday paring early gains due to a decline in banking shares, while a surge in market heavyweight Infosys Ltd after the announcement of a probable share buyback propped up the indexes. The Nifty was up 10.95 points at 9908.25 in Thursday's early trade.

Both indexes marked their highest close in over a week.

On Thursday, the equity benchmarks ended on a flat note after the indices erased gains in the last hour of trading. Shares of two-wheeler market leader, Hero MotoCorp surged 0.28 per cent to Rs 3,717.20 after the company yesterday reported a 3.5 per cent increase in its profit after tax at Rs 914.04 crore for the first quarter ended June.

Markets in Europe were lower Thursday as uncertainty surrounding internal US policy continued to weigh on investor sentiment despite lessening tensions from North Korea.

The Sensex and Nifty rose for a third consecutive session on Thursday, with Infosys Ltd leading the gains after announcing a likely share buyback, while Asian markets rose as tensions between the U.S. and North Korea eased.

"For Infosys, the buyback will lead to higher RoE and payout ratio". Along with this, value buying on the back of decline on Wednesday could have boosted investors' interest in the stock.


The Nifty50 of the National Stock Exchange (NSE) traded above the psychologically important 9,900-level.

Among Sensex stocks, Infosys gained 3.16 per cent to Rs 1,007.70 ahead of its board meeting on Saturday on a proposed share buyback. The Sensex was up 43.94 points at 31814.83.

At 1.15 p.m., the 30-share BSE index Sensex was up 115.83 points or 0.36 per cent at 31,886.72 and the 50-share NSE index Nifty was up 40.95 points or 0.41 per cent at 9,938.25.

The S&P BSE automobile index augmented by 382.09 points, followed by the banking index by 343.97 points, and the FMCG index by 243.80 points.

Top five Sensex gainers were Infosys (+4.9%), Coal India (+4.62%), NTPC (+2.41%), Bharti Airtel (+2.11%) and Reliance (+0.75%), while the major losers were Cipla (-1.29%), Adani Ports (-1.06%), Maruti (-0.93%), Kotak Bank (-0.85%) and HUL (-0.77%).

Related News:

  • At least 47 dead in Nepal flooding after days of downpours

    At least 47 dead in Nepal flooding after days of downpours

    More than 1,000 houses were destroyed in floods that killed an estimated 400 livestock, the Kathmandu Post reported. The floods have created havoc in districts like Banke, Bardiya, Dhanusa, Saptari, Siraha, Sunsari and Morang.
    North Korea, Russia foreign ministers agree to resolve issues 'diplomatically'

    North Korea, Russia foreign ministers agree to resolve issues 'diplomatically'

    The House of the Representatives and the US Congress legislated the sanctions law which was signed by President Donald Trump . If the two leaders discussed those or other US concerns about Duterte's government, they didn't do so in public.

    Australians might get to vote on marriage equality in November

    The ballots for a postal vote will be sent out on September 12 with the aim of having them returned and counted by November 15. "We urge Liberals who support marriage equality to table marriage equality legislation and cross the floor to vote for it".
  • Outside spending, not Trump, roils race for Chaffetz's replacement

    Outside spending, not Trump, roils race for Chaffetz's replacement

    In addition, the fall contest will be complicated by the insurgent candidacy of Jim Bennett, son of the late three-term Sen. Curtis moves on to face a well-funded Democratic opponent who initially jumped in to challenge Chaffetz earlier this year.
    Tamil Nadu CM meets PM Modi amid speculation on merger

    Tamil Nadu CM meets PM Modi amid speculation on merger

    Panneerselvam , the then CM had pointed at Sasikala alleging her role in Jayalalithaa's death. The AIADMK in Tamil Nadu does not seem to know what it stands for and what it wants.
    Kaira Asks Nawaz to disclose name of conspirator

    Kaira Asks Nawaz to disclose name of conspirator

    The Punjab law minister said that Nawaz Sharif lived in hearts of workers and this spirit to be remembered for decades. Several intelligence agencies issued a threat alert that terrorist organisations were planning an attack at the rally.
  • Plano Confirms 2nd Human West Nile Case of 2017

    Plano Confirms 2nd Human West Nile Case of 2017

    However, about one in five patients develop a fever, headache, body aches, joint pains, vomiting, diarrhea or rash. The latest results , show 11 pool samples testing positive for the virus with one human case in Allen Parish.
    Costa must return to Chelsea to have hope of Atletico move

    Costa must return to Chelsea to have hope of Atletico move

    Appropriately for a player who learnt English by watching the Godfather films, he awaited an offer Spurs couldn't reject. Chelsea have now given him four ultimatum he must meet if he wants the Blues to sell him to Atletico Madrid this summer.
    Snap Inc. (NYSE:SNAP) Shares Bought by NN Investment Partners Holdings NV

    Snap Inc. (NYSE:SNAP) Shares Bought by NN Investment Partners Holdings NV

    The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.13. Finally, Jennison Associates LLC acquired a new position in Snap during the first quarter valued at about $119,178,000.
  • SoundCloud isn't going anywhere, raises largest funding ever

    SoundCloud isn't going anywhere, raises largest funding ever

    Trainor said SoundCloud will continue to offer the suscriptions, but that it won't be the central focus of the company. Concerned users had been backing up their Soundcloud uploads, anxious the site would go offline.
    Congress demands CM Yogi resignation over death of Kids in UP

    Congress demands CM Yogi resignation over death of Kids in UP

    An operator in the oxygen supply department told Scroll.in that the liquid oxygen supply to the hospital has been restored. The two ministers, before leaving for Gorakhpur , met Adityanath, who asked them "not to spare any one found guilty".
    Fox News Host Sent Unsolicited Lewd Text Messages To Colleagues, Sources Say

    Fox News Host Sent Unsolicited Lewd Text Messages To Colleagues, Sources Say

    In 2016, the late Fox News CEO Roger Ailes resigned after allegations of sexual harassment from multiple employees. And Fox Business host Charles Payne was recently suspended from the network amid sexual harassment claims.


Most liked

Indian, Chinese Troops Exchange Sweets As Bitterness Prevails In Doklam
Reports appearing in media suggest that the Red Army contingents attempted entering into two parts of J&K in Western Ladakh . After almost 30 minutes of facing off, the two sides retreated to their positions, he said.

Gates listed for charity $4.6 billion
Gates now owns 1.3 per cent of the company's outstanding shares, down from 2.3 per cent before he made the $4.6 billion gift. But as Amazon's share took a beating in the market, Gates again become the world's richest person.

Natalie Cole's son dead at 39
TMZ reveals that a man of 39 years old was found lifeless at his home in the San Fernando Valley (California), Monday, 14 August. Family members have told the website that he died of a heart attack , nearly two years after the death of his mother.

Minneapolis considered as a possible site for matches in 2026
If a city is not picked to host matches, they could host team base camps or events like the Preliminary or Final Draw. The first sporting event ever held at the stadium was a 2016 International Champions Cup match between A.C.

Lexington Mayor Jim Gray Proposes Moving Confederate Statues
Scott's resolution contained a statement that said "Baltimore has had more than enough time to think on the issue". The Kentucky Military Heritage Commission must approve the plan after the Lexington City Council votes on it.

Scaramucci criticizes President Trump's response to the violence in Charlottesville
Scaramucci said that the president "knows what he's going to do with [Bannon]", and decried Bannon's "toleration" of racism. The president has a very good idea of the people that are undermining his agenda that are serving their own interests.

Floyd Mayweather & Conor McGregor Media Day Quotes
The critics say that Floyd has been there before. "I will rule over MMA and boxing with an iron fist after August 26". Malignaggi has said he wouldn't release any tactical or strategic information following his experience with McGregor.

Two arrested in the Netherlands over egg scandal
Authorities suspect Belgian company Poultry Vision of producing a fipronil-laced treatment created to kill mites in chickens. A spokesperson said investigations indicated it was "very unlikely" that the eggs posed a risk to public health.

Newcastle poised to sign Kenedy on loan from Chelsea
Benitez has now admitted that he feels that his side have not improved much on what they had available to them last season.

Mayo Clinic Named Best Hospital In Nation For 2nd Time
NJH - which is ranked together with its academic affiliate, University of Colorado Hospital , held the top spot in U.S. Ronald Reagan UCLA Medical Center was ranked second-best hospital in California and first in the Los Angeles area.

Patriots become first National Football League team to buy planes
The Patriots will allow for the planes to be rented out during the season when they are not needed for team travel, sources said. National Football League teams have 10 road games per season, including eight regular season road games.

Klopp suggests Liverpool won't be signing Van Dijk this summer
The Dutch defender wants out of Southampton . "It doesn't work. We have the need, we have some but you don't take any. I don't see it [the defence] as a concern".

Donald Trump-Russia investigators ask White House for documents about Michael Flynn
The document request is the first known instance of the special counsel asking the White House to hand over records. At a campaign rally in West Virginia on Friday, he dismissed the allegations and investigation as "fake news".

Emanuel confirms city will file suit against DOJ
But Emanuel said the equipment it buys is "needed" and called the effort to pull those grants "the camel's nose under the tent". The mayor said the city won't be " blackmailed " into changing its values as a welcoming city .

Jay Cutler could be tempted by Miami Dolphins
Regardless of Tannehill's long-term outlook, Cutler is the starter for now, and we'll see just how long that lasts. In 2015, Gase was offensive coordinator in Chicago and helped Cutler to a career-high passer rating of 92.3.