Sensex gains over 100 pts on positive global cues

ONGC, Tata Power, Bharti Airtel, Maruti Suzuki and Adani Ports were top gainers

Benchmark indices extended gains Sensex gains over 100 pts on positive global cues.

The 30-share BSE Sensex was up 128.51 points at 33,884.79 and the 50-share NSE Nifty gained 34.80 points at 10,475.10.

About 1,533 shares advanced against 625 declining shares on the BSE.

ONGC, Tata Power, Bharti Airtel, Maruti Suzuki and Adani Ports were top gainers among Nifty 50, rising 1-2 percent.

The Reserve Bank has said gross non-performing assets in the system shot up to 10.2 percent as of the September quarter, primarily led by private sector lenders, and has warned that the situation will only aggravate from there, “elevating” the systemic risks.

In the half-yearly Financial Stability Report (FSR) put out late this evening, the central bank, however, said the financial system remains “stable” overall though it has pegged the bad loans spiking to 10.8 percent by the March quarter and to 11.1 percent by September 2018.

“The banking stability indicator (BSI) shows that the risks remain at an elevated level weighed down by further asset quality deterioration,” the FSR notes.

Overall, the stressed assets, including restructured loans and dud loans increased marginally to 12.2 percent during the same period from 12.1 percent.

Dilip Buildcon shares gained more than 4 percent intraday on bagging two EPC contracts valued at Rs 517.81 crore from Ircon International.

The road developer informed exchanges that Ircon International has declared L1 bidder for two projects in Karnataka – one is six-laning of Davanagere-Haveri section of NH-48 package 1B (6.85 km) and six-laning of Davanagere-Haveri section of NH-48 package 2 (40.37 km).

The first project is worth Rs 148.28 crore against bid price of Rs 157.23 crore and second is Rs 378.56 crore against bid price of Rs 360.58 crore.

Both projects will be completed in 24 months.

Equity benchmarks started off last day of the week on a positive note, with the Nifty reclaiming 10,450 level.

The 30-share BSE Sensex was up 73.79 points at 33,830.07 and the 50-share NSE Nifty gained 21.50 points at 10,461.80.

About 907 shares advanced against 260 declining shares on the BSE.

TCS was up nearly a percent after the report indicated that the company renewed USD 2.25 billion deal with Nielsen till 2020 and also after Accenture earnings.

Aurobindo Pharma, L&T, Vedanta, Eicher Motors, HDFC Bank and UPL were early gainers while BPCL, Bajaj Auto, HCL Technologies, Bharti Infratel, Power Grid and ICICI Bank were losers.

Reliance Infrastructure, NHPC, PVR, Reliance Naval, Britannia Industries, DB Realty, Aditya Birla Money and Religare Enterprises rallied 2-20 percent.

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