Market Live: Sensex gains over 150 pts, Nifty flirts with 11,000 mark; banks lead – Moneycontrol.com, Moneycontrol.com

DHFL rallied 7 percent after DSP MF said DHFL h as paid the entire pending amount.

The mutual fund had exposure of Rs 150 crore to DHFL commercial papers.

(JPMorgan Close To Winning Lead Advisory Role Role For Saudi Aramco IPO)

JPMorgan Chase & Co is close to winning the lead advisory role for Saudi Aramco’s initial public offering, a source familiar with the situation said on Sunday.

Reuters reported last month that Aramco formally asked major banks to submit proposals for potential roles in its planned IPO. A final decision is likely to come later this week, the source told Reuters, asking not to be identified.

Saudi officials want to push ahead with a listing as early as November, the source said, adding that the tentative plan is to first list on the domestic exchange and then to sell stock in an international listing in 2020. Source: Reuters.

Sensex Gains 200 PTS:

Benchmark indices extended gains in late morning deals amid positive Asian cues. The BSE Sensex was up 201. (points at) , 183. and the Nifty Gained 58. (points at) , 0 05.

Asia Stocks Gain

Asian stocks edged higher amid a cautious mood as investors pinned their hopes on expected global stimulus to support slowing growth in

Global equity markets also received a lift after the Chinese central bank’s move on Friday to cut how much cash banks must hold in reserve, releasing liquidity to shore up an economy hit by the Sino-US trade conflict.

China’s Shanghai Composite, South Korea’s Kospi and Japan’s Nikkei gained half a percent each.

(August SIAM Data

Passenger car sales in August 2019 fell by 41. 1 percent to 1. 15 lakh units and 2-wheeler sales declined 22 .2 percent to 15 .1 lakh units compared to same month last year.

Commercial vehicle sales dropped 38 .7 percent to 51, 897 units and passenger vehicle sales plunged 31 .6 percent to 1. 96 lakh units YoY.

(August SIAM Data)

Passenger car sales in August 2019 fell by 41. 1 percent to 1. 15 lakh units and 2-wheeler sales declined 22 .2 percent to 15 .1 lakh units compared to same month last year.

Commercial vehicle sales dropped 38 percent to 51, 897 units and passenger vehicle sales plunged 31 .6 percent to 1. 96 lakh units YoY.

Nifty Hovers Around , 000:

Benchmark indices continued to trade higher with the Sensex rising 188. 96 points to 37, 170. 73 and the Nifty climbing 53. 60 points to 10, 999. 80

About two shares advanced for every share falling on the BSE.

(Rupee Rises) Paise To 71 . 59 against US dollar

The rupee a ppreciated by 14 paise to 71. 58 against the US dollar as China’s easing move and rate cut hopes by the US Fed enthused investors.

Ashok Leyland announced non-working days for 5 plants in September due to weak demand.