Sensex Ends Above 56,000 Mark, Nifty Tops 16,700; UltraTech Cement and Hindalco Climb 3%

Fri, 27 Aug Closing

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After opening the day on a negative note, Indian share markets recovered early losses during the afternoon session and ended in green.

At the closing bell, the BSE Sensex stood higher by 176 points (up 0.3%).

Meanwhile, the NSE Nifty closed higher by 68 points (up 0.4%).

The Sensex ended above the 56,000 level for the very first time.

UltraTech Cement and Hindalco were among the top gainers today.

IndusInd Bank and Infosys, on the other hand, were among the top losers today.

The SGX Nifty was trading at 16,725, up by 88 points, at the time of writing.

Both, the BSE Mid Cap index and the BSE Small Cap index ended up by 0.9%.

Sectoral indices ended on a positive note with stocks in the engineering sector, power sector and metal sector witnessing most of the buying interest.

Shares of Info Edge and Hindustan aeronautics hit their respective 52-week highs today.

Asian stock markets ended on a mixed note today.

The Hang Seng ended on a flat note, while the Shanghai Composite ended up by 0.6%. The Nikkei ended down by 0.4% today.

US stock futures are trading on a positive note today with the Dow Futures trading up by 106 points.

The rupee is trading at 73.68 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.3% at Rs 47,077 per 10 grams.

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In news from the IT sector, Wipro was among the top buzzing stocks today.

Wipro on Thursday announced a global strategic partnership with DataRobot, a leader in Augmented Intelligence.

The partnership will deliver Augmented Intelligence at scale, to help customers become artificial intelligence (AI) driven enterprises, and accelerate their business impact.

Wipro said the collaboration will help accelerate the execution of AI strategy and will ensure quicker data to value for businesses.

The partnership will also streamline the process of infusing AI-led intelligence into customer business decisions, and positively impact their bottom line.

The collaboration will strengthen Wipro's partner ecosystem in the dynamic Enterprise AI segment and highlight its commitment to making AI accessible.

Furthermore, DataRobot's Augmented Intelligence platform will empower key stakeholders across organizations to conduct cutting edge data science at an enterprise level.

DataRobot is a leader in Augmented Intelligence, delivering trusted AI technology and enablement services to global enterprises competing in today's Intelligence Revolution.

Wipro share price ended the day up by 0.8% on the BSE.

Moving on to news from the oil & gas sector...

Global Oil Majors Joining Race for BPCL

Global oil majors may be teaming up with investment funds that are already in the race to acquire Bharat Petroleum Corporation (BPCL), a document detailing steps needed to complete India's biggest privatisation showed.

Billionaire Anil Agarwal's Vedanta group as well as two US funds, Apollo Global and I Squared Capital, had last year submitted initial bids to buyout the government's entire 53% stake in India's third-biggest oil refiner and second-largest fuel retailer.

Detailing the 'Next Step', the 'Brief Note on BPCL Disinvestment' said transaction advisor and asset valuer are to submit an inception report, bidders have to complete due diligence of the company and sale purchase agreement has to be finalised.

Also, security clearance of bidders may be needed since consortiums are being formed, it said without giving details.

The bidding process allows for other interested parties to join and form a consortium with any one of the bidders which had submitted an expression of interest (EoI).

Firms run by Indian billionaires Mukesh Ambani and Gautam Adani as well as global oil majors such as Royal Dutch Shell, BP and Exxon did not submit an EoI for acquiring BPCL at the close of the deadline on 16 November 2020.

However, several top oil producers from the middle east and Russia's Rosneft were said to be interested in BPCL which would give the buyer access to over 14% of India's oil refining capacity and 23% fuel market share.

BPCL share price ended the day up by 0.9% on the BSE.

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To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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