Sensex, Nifty Advance; Kotak Bank, Asian Paints Top Gainers

Indian equity benchmarks rebounded from yesterday’s sharp decline led by HDFC Bank, Reliance Industries, ICICI Bank and ITC. The S&P BSE Sensex rose 0.65 percent or 228 points to 35,540 and the NSE Nifty 50 Index climbed 0.5 percent or 53 points to 10,654.

Seventeen of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Energy Index’s 1 percent gain. On the flipside, S&P BSE IT Index was top loser, down 0.6 percent.

Mid- and small-cap shares were in-line with larger peers as the S&P BSE MidCap Index rose 0.4 percent and the S&P BSE SmallCap Index advanced 0.2 percent.

HCL Technologies Falls Most In Three Weeks After $1.8 Billion IBM Deal
Shares of the Noida-based information technology company fell as much as 5.37 percent, the most in over three weeks, to Rs 958.15 after it agreed to buy software assets worth $1.8 billion from IBM.

HCL Technologies is buying seven businesses focused on markets such as e-commerce and human resources, according to a statement Thursday. The transaction is expected to close by mid-2019. An existing licensing partnership between the two companies will continue for five of the products.

Oil Retailers Gain As Crude Extends Slide To Third Day
Shares of oil marketing companies rose after crude extended its slide for third day amid signals that OPEC, Russia and other aligned oil producers won’t curb output enough to erase a supply overhang.

Brent crude fell as much as 0.97 percent to $59.48 per barrel.

Bharat Petroleum rose as much as 1.9 percent to Rs 330.95
Hindustan Petroleum rose as much as 2.2 percent to Rs 230.30
Indian Oil rose as much as 2.2 percent to Rs 133.60

Jet Airways Rises On Report Etihad Offers $150 Million Loan Guarantee
Shares of the Mumbai-based airline operator rose as much as 3.98 percent to Rs 288.75 after Etihad Airways has offered to guarantee loans worth $150 million to Jet Airways that will keep the Indian carrier operational, citing people directly aware of the matter.

Nifty 10,700 Call Among Most Active Call Options On NSE
Nifty’s 10,700 call option contract was among the most active option contracts on the National Stock Exchange. Premium on the contract rose 10 percent to Rs 160.30. Over 83,700 shares were added to open interest which stood at over 21.72 lakh shares.