Thursday, September 6, 2018

MARKET SUMMARY 06 SEP 2018


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The benchmark indices ended higher on Thursday as the rupee pared some of its intra-day losses and recovered after hitting a new all-time low.The S&P BSE Sensex ended at 38,243, up 224 points while the broader Nifty50 index settled at 11,537, up 60 points.Among sectoral indices, Nifty Pharma index settled 2.7 per cent higher led by Aurobindo Pharma and Biocon.In individual stocks Reliance Industries (RIL) rose 2.7 per cent higher to end the day at Rs 1,259 on the BSE. Shares of Wipro were up for the seventh straight day, rising to Rs 322, up 1% on the BSE.In past three trading days, the stock has risen 4% after the information technology (IT) services firm on Sunday announced that it has won its largest contract to date from US-based human resources (HR) and financial solutions company Alight Solutions LLC. The stock hit a high of Rs 328 during intra-day trade on Monday, September 3, 2018.The deal will fetch it around $1.6 billion in revenue over 10 years.
The contract follows the two companies’ strategic alliance announced in July. As part of that, Wipro had announced investing $117 million in Alight and acquiring its captive India unit.Wipro has outperformed the market by surging 16% in past one month, as compared to 1% rise in the S&P BSE Sensex. It trading close to its 52-week high of Rs 335 touched on January 16, 2018.
TOP GAINERS:RELIANCE,CIPLA,SUNPHARMA
MAJORLOOSERS: ZEEL,HINDALCO,BAJFINANCE


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