CNBCTV18 Market Highlights: Sensex rises 337 points, Nifty near 10950, Maruti Suzuki, Tech Mahindra top gainers, Indiabulls Housing Fin dips 4.6%

CNBCTV18 Closing Bell: Sensex rises 337 points, Nifty near 10950, Maruti Suzuki, TechM top gainers##CNBCTV18 Closing Bell: Sensex rises 337 points, Nifty near 10950, Maruti Suzuki, TechM top gainers

The BSE Sensex gained 337 points, or 0.92 percent, to settle at almost 36,982. The Nifty50 also rose over 98 points, or 0.91 percent, to close trade at 10,946. The Nifty MidCap index gained 0.71 percent, while the banking gauge, Nifty Bank rose 1.22 percent. Maruti Suzuki, Tech Mahindra, Tata Steel, NTPC and Axis Bank were top Nifty gainers, rising between 3 and 4 percent. Indiabulls Housing Finance, Yes Bank, Sun Pharma and HCL Technologies were top losers, falling by up to 4.57 percent. .

Sensex heatmap at close: TechM, Maruti, NTPC top gainers, Yes Bank, Sun Pharma top losers##Sensex heatmap at close: TechM, Maruti, NTPC top gainers, Yes Bank, Sun Pharma top losers

DLF falls 7% as company named in Indiabulls Housing petition##DLF falls 7% as company named in Indiabulls Housing petition

Shares of DLF fell 7 percent to Rs 148.20 on concerns over the company being mentioned in the public interest litigation filed against Indiabulls Housing Finance on corporate governance issues. Media reports said that a plea has been filed against the company in the Delhi High Court, alleging that the promoters of the company have siphoned off and round-tripped funds.

PIL aimed at hindering merger with Lakshmi Vilas Bank, says Indiabulls Housing Finance##PIL aimed at hindering merger with Lakshmi Vilas Bank, says Indiabulls Housing Finance

Gagan Banga, vice chairman and managing director of Indiabulls Housing Finance, on Friday, said that a public interest litigation (PIL), which reports claimed was filed against the company in Delhi High Court, was aimed at creating turbulence in the process of merger with Lakshmi Vilas Bank. The PIL, filed against the company and its promoters, seeks directions to MCA to authorise SFIO probe into alleged financial irregularities. It also seeks directions to RBI, SEBI to investigate the alleged irregularities and take necessary actions, Kamini Jaiswal, Supreme Court lawyer, told CNBC-TV18. READ MORE

Lupin, Torrent Pharma, Marico among ICICI Direct's top quant picks##Lupin, Torrent Pharma, Marico among ICICI Direct's top quant picks

Lupin, Torrent Pharma, Marico and Torrent Power are ICICI Direct's quant picks in its research report dated September 5. Analysts at the brokerage are of the view that the pharma space may see an uptrend in coming weeks, particularly Lupin.

The pharma major's share has witnessed short covering since the June series. In the first round of recovery in June, Lupin shed almost 30 percent of positions while it moved towards Rs 800, the report said. READ MORE

5% GDP growth not a dire situation, says Taimur Baig of DBS Group##5% GDP growth not a dire situation, says Taimur Baig of DBS Group

Taimur Baig, MD and Chief Economist at DBS Group Research, on Friday said that India's growth slipping to 5 percent in the first quarter should not be seen as a dire situation as it "is doing pretty well on a relative basis".

“Given the dearth of growth around the world, even the April-June quarter number of 5 percent should not be seen as a dire situation. India is doing pretty well on a relative basis. It is only doing poorly relative to India’s own aspirations and goals,” said Baig in an interview with CNBC-TV18. READ MORE

Govt measures can only turn market sentiment, not fundamentals, says Helios Capital's Samir Arora##Govt measures can only turn market sentiment, not fundamentals, says Helios Capital's Samir Arora

The government announcing measures to revive the economy can only turn investor sentiment and not change the fundamentals of the market, said Samir Arora, founder of Helios Capital, adding that the Centre is more under pressure due to negative market than fund managers.

“I am at the conference but the government right now is looking at the index to see if it is changing or not changing and they are under more pressure than maybe fund managers. So that is a positive sign and they are reacting. It may not work in one announcement or two announcements. They will also not give up until the market gives them a thumbs up," he said in an interview with CNBC-TV18. READ MORE

This stock has turned Rs 1 lakh into Rs 2.5 crore in 29 years

Turbulent times for markets! Prabhudas Lilladher tells you how to build a winning stock portfolio##Turbulent times for markets! Prabhudas Lilladher tells you how to build a winning stock portfolio

With bears tightening grip on markets as foreign investors flee domestic stocks, most analysts have turned cautious on Indian equities and are advising investors to invest in stocks with strong fundamentals and stable management.

Brokerage Prabhudas Lilladher believes that the current slowdown is a combination of cyclical and structural issues and will take time to fade away. However, the latest announcements by the finance minister show the intent of the government to remove some of these irritants and structural issues, which will go a long way in preventing incremental damage, it said in a report. READ MORE

ICICI Prudential hits 15-month high as valuations attractive##ICICI Prudential hits 15-month high as valuations attractive

ICICI Prudential Life Insurance rose 2.6 percent to an over 15-month high of Rs 438 on talk of healthy rise in new insurance premium compared to peers, as well as attractive valuations. Shares of ICICI Prudential Life Insurance Company ltd traded at Rs 437.30, up 2.47 percent on NSE at 1.11 pm.

Finance ministry may not back Oil ministry's proposal to sale stake in BPCL to IOC##Finance ministry may not back Oil ministry's proposal to sale stake in BPCL to IOC

Reliance Industries extends gains on Rs 60.65 crore large deals on NSE##Reliance Industries extends gains on Rs 60.65 crore large deals on NSE

Shares of Reliance Industries extended gains today after two large deals on the NSE, worth Rs 60.65 crore, spurred buying interest in the scrip. As many as 502,474 shares traded on the NSE in two deals at 10.51 am, at an average price of Rs 1,207. The shares traded in the deal were equivalent to 14 percent of the stock's volume. The stock gained after the company's telecom arm Reliance Jio Infocomm launched its direct-to-home and broadband service JioFiber on Thursday. Brokerage firm Credit Suisse said if Jio achieves its target of 20 million customers on JioFiber, then it could add $1.2 billion to the operating profit of Reliance Industries' consumer-focussed operations. However, some brokerage firms suggested that the plans offered under JioFiber, though competitive and lucrative, were not enough. So far, 5.7 million shares of the company traded on the NSE, below the three-month average daily of 8.7 million shares. At 12.20 pm, shares of RIL were up 1.6 percent at Rs 1,217.60.  

Oil steadies, set for weekly gain amid hopes for end to U.S.-China trade war##Oil steadies, set for weekly gain amid hopes for end to U.S.-China trade war

Oil prices were steady on Friday, with crude benchmarks poised for multi-week gains amid a sharp drawdown in U.S. crude inventories, while trade tensions eased after Washington and Beijing agreed to hold high-level talks next month. Brent crude was up 6 cents at $61.01 a barrel by 0339 GMT, while U.S. West Texas Intermediate (WTI) crude was up 5 cents at $56.35 a barrel. 

Infosys up for 3rd day, hits record high on fund buying##Infosys up for 3rd day, hits record high on fund buying

Shares of Infosys rose for the third straight trading session to hit a record high of Rs 847 as some foreign funds are increasing stake in the software services exporter, where nearly 40 percent stake is held by foreign and domestic mutual funds and institutional investors. Infosys along with shares of Tech Mahindra, up 5.2 percent at Rs 731.65  on a multi-year pact with AT&T Communications, have contributed to the Nifty IT's gains despite the rupee today hitting its highest against the dollar this week.

Lakshmi Vilas Bank sinks as merger plan faces hurdles##Lakshmi Vilas Bank sinks as merger plan faces hurdles

Shares of Lakshmi Vilas Bank hit their 5 percent lower circuit limit of Rs 36.35 on concerns that the bank's proposed merger with Indiabulls Housing Finance may not get regulatory approval after a petition was filed against the housing finance company in Delhi High Court alleging siphoning of funds. Indiabulls Housing Finance has termed the allegations as malicious. Indiabulls Housing and Lakshmi Vilas Bank are awaiting RBI approval for the proposed merger, which will allow the housing finance company to obtain a banking licence.