Markets Live: Sensex ends at new high of 38,897; Nifty closes at 11,738

Closing bell

The S&P BSE Sensex surged 202.52 points or 0.52 per cent to end at a new high of 38,896.63 and the Nifty climbed 46.55 points or 0.4 per cent to close at a record peak of 11,738.50.

Domestic sentiment was buoyed on heavy buying by FIIs and DIIs in metal, auto, power and IT stocks. However, PSU, consumer durables, oil & gas and realty stocks succumbed to selling pressure.

 

Top five Sensex gainers were Vedanta, Adani Ports, Reliance, Maruti and Axis Bank, while the major losers were YES Bank, State Bank of India, HUL, ONGC and IndusInd Bank.

 

Covering-up of pending short positions by participants ahead of August derivatives expiry on Thursday too supported the bull-run. Investor sentiment remained bullish largely in tandem with positive global cues as investors cheered the news of a trade deal between the US and Mexico.

According to brokers, positive global cues, strong liquidity in the market following fresh foreign fund inflows and widening of bets by investors ahead of April-June quarter GDP data on Friday drove markets to record highs for the second straight session.

As per provisional data, foreign portfolio investors had bought shares worth Rs 252.52 crore, while domestic institutional investors made purchases worth Rs 1,117.24 crore yesterday.

Sensex movers, shakers

Top 5 Nifty gainers, losers

 

Bullion prices

 

Gold rose Rs 150 to Rs 31,150 per ten gram at the bullion market on steady buying by local jewellers due to festive season demand and positive global cues. Silver too gained Rs 170 to Rs 38,470 per kg due to increased offtake by industrial units and coin makers. Read more

European markets

 

European shares rallied after the United States and Mexico reached a trade agreement, with autos enjoying another day of gains on an otherwise quiet day for company news. The pan-European STOXX 600 index was up 0.1 per cent by 0850 GMT, hitting a two-week high, while DAX gained 0.1 per cent. Read more

SBI Small Cap

 

Investors with a long-term perspective and an appetite for high risk can invest in SBI Small Cap Fund through the Systematic Investment Plan route. The fund has proved its mettle across market conditions, be it the market fall of 2011, the volatilities of 2013 and 2015, or the 2014 and 2017 rallies. Click here to read more

Pre-close trade

The Sensex was trading higher by 175.44 points or 0.45 per cent at 38,869.55 and the Nifty up 36.9 points or 0.32 per cent at 11,728.85. Heavy buying in metal, power and auto stocks boosted the domestic sentiment. However, PSU, consumer durables, oil & gas and infrastructure stocks succumbed to selling pressure.

 

 

Top five Sensex gainers were Vedanta, Adani Ports, Maruti, Reliance, and Axis Bank, while the major losers were YES Bank, HUL, ONGC, State Bank of India and ITC.

 

World stocks rose to a six-month high as investors remained optimistic that the US-Mexico deal to overhaul the North American Free Trade Agreement will go some way to avert a global trade war.

Global markets

 

World stocks rose to a six-month high, lifted by investor optimism that a US-Mexico deal to overhaul the North American Free Trade Agreement will go some way to avert a global trade war. MSCI's benchmark world share index rose 0.15 per cent, while MSCI's index of Asia-Pacific shares outside Japan climbed 0.5 per cent. Read more

Crude steel output up 5.4%

 

India’s crude steel output increased by 5.4 per cent to 61.8 million tonnes in the first seven months of the calendar year 2018. The country produced 58.6 mt in January-July, 2017. Read more

Onelife's bid to acquire Sahara biz under a cloud

 

A proposal by Onelife Capital Advisor to buy Sahara group’s mutual fund business has come under a cloud due to its chequered past record with SEBI. OCAL is a front-runner for Sahara’s MF business, but getting SEBI’s clearance could prove a major hurdle. Click here to read more

MCFL gets eco clearance for Rs 1,547-cr project

 

Mangalore Chemicals and Fertilizers has received green clearance for Rs 1,547-crore expansion-cum-modernisation of its fertiliser plant in Karnataka. The eco clearance is subject to compliance with certain conditions. Read more

Domestic shares hit another record high on heavy buying by foreign funds and domestic institutional investors and positive global cues.

At 2 pm local time, the Sensex was trading higher by 183.91 points or 0.48 per cent at 38,878.02 and the Nifty up 45.2 points or 0.39 per cent at 11,737.15.

Among BSE sectoral indices, metal, IT, TECk and auto remained investors' favourite, while consumer durables, PSU, realty and infrastructure succumbed to selling pressure.

 

 

Top five Sensex gainers were Reliance, Vedanta, Maruti, NTPC, and Tata Steel, while YES Bank, State Bank of India, Bajaj Auto, ICICI Bank and PowerGrid were the major losers.

 

Mutual fund story

 

India is making a shift from savings in physical assets to financial assets. Post-demonetisation, financialisation of household savings has gained momentum. Equity markets resisted a corrective cycle with great strength last year, as the DII inflows exceeded FII outflows, with the mutual fund industry witnessing encouraging inflows into equity funds, primarily through systematic investment plans. Click here to read more

Nestle, Starbucks seal $7.15 b deal

 

Nestle and Starbucks have concluded their licensing deal for the Swiss food giant to market the US coffee maker's packaged coffees and teas around the world. Read more

Ruchi Soya promoters sell stake

 

Ruchi Soya promoters have sold 1.06 crore shares, worth 3.18 per cent stake, through an open market transaction. Post this transaction, the promoters’ stake in the company has come down to 38.88 per cent from 42.06 per cent. Read more

Rupee weakens to 70.19

 

The rupee weakened to 70.19 on fresh dollar demand from banks and importers. However, fresh foreign fund inflows and weakening of dollar against other currencies overseas limited the rupee's losses. Read more

Power stocks trip

 

Shares of power companies fell after the Allahabad court refused to extend the deadline for finalising the resolution plans for stressed power assets as mandated by the Reserve Bank of India. Monnet Ispat and Energy Ltd fell as much as 4.8 per cent to Rs 14.05. Click here to read more

Hexware Technologies' big fall

 

The stock of mid-tier IT player, Hexaware Technologies, fell by more than 13 per cent last Friday. Reports of the promoter group, Baring PE Asia, selling a portion of its stake through block deals led to massive selling in the counter. Click here to read more

The Sensex was trading higher by 184.98 points or 0.48 per cent at 38,879.09 on heavy buying in metal, power, healthcare and IT stocks. However, consumer durables, realty, PSU and banking succumbed to selling pressure.

Similarly, the Nifty was up 53.9 points or 0.46 per cent at 11,745.85. Intraday, the BSE index hit record high of 38,920.14 and the NSE index scaled fresh peak of 11,758.40.

Heavy buying by foreign funds and domestic institutional investors boosted the domestic sentiment. Investor sentiment was also buoyed on positive global cues after the United States and Mexico agreed to overhaul the North American Free Trade Agreement.

Infosys and Tata Consultancy Services, India's largest software services exporters, saw their shares rise to all-time highs with gains of up to 1.62 per cent 0.69 per cent, respectively.

Infosys

Tata Consultancy Services

 

The NSE index has had a record-setting run in the last two months, while the BSE has been Asia's top performing index this year. The new highs come as companies in India, the fastest growing major economy in the world, reported a 11.6 per cent annual increase in profits for the June 2018 quarter, the strongest growth in five quarters.

“Majority of the macro factors are in favour, the results that came out this quarter were in line with expectations. The likes of IT and Pharma are doing well now, thanks to the dollar,” said Sudhakar Pattabiraman, Head of Research Operations, William O'Neil India.

The dollar remained near one-month lows against the euro on Tuesday, but gained against the yen after the US-Mexico deal boosted appetite for riskier assets.

Reliance Industries

Oil-to-telecoms giant Reliance Industries Ltd rose as much as 1.05 per cent to a lifetime high of Rs 1,305, while Coal India Ltd's shares rose as much as 2.25 per cent to its highest in nearly three months.

 

“The trade war is easing out, that should be helping the energy and IT stocks. It is further expected that dollar might get even better, that is going to help the IT companies for sure,” Pattabiraman added.

Sobha: In a favourable spot - Buy

 

The introduction of the GST and RERA laws took a toll on the realty segment for the better part of last fiscal. Now, with the adverse impact of these acts tapering down, Sobha stands to benefit from the favourable market conditions with project launches picking up and unsold inventories coming down. Click here to read more

Nifty 50 August Futures (11,743)

 

The outlook is bullish. An upmove to 11,800 and 11,820 is likely in the coming sessions; a strong break above 11,760 will pave way for this rally. However, an intermediate dip before an upmove to 11,800 levels cannot be ruled out. Click here to read more

Sun Pharma set to rebound

 

 

Sun Pharmaceuticals seems set for a rebound from the decline seen over 2015-2017. The revival in earnings is evident, as the company has posted a good set of numbers in the first quarter of 2018-19, with 16 per cent and 87 per cent Y-o-Y growth in its consolidated revenue and net profit respectively. Click here to read more

Rupee likely to remain under pressure

 

The rupee may remain broadly range-bound between 69.4 and 70.4 in the near term. However, the bias will continue to remain bearish. The upside is expected to be limited to 69 even if it manages to break above 69.4. The region between 69.1 and 69 is a strong resistance, which is likely to cap the strength in the rupee. Click here to read more

Sensex movers, shakers

Top 5 Nifty gainers, losers

 

The Sensex was trading higher by 160.24 points or 0.41 per cent at 38,854.35 and the Nifty up 47.15 points or 0.4 per cent at 11,739.10 on heavy buying in metal, IT, power and TECk stocks. However, consumer durables, realty, banking and capital goods succumbed to profit-booking.

Top five Sensex gainers were Vedanta, NTPC, Maruti, Kotak Bank and Infosys, while the major losers were YES Bank, Hero MotoCorp, Axis Bank, HUL and Bajaj Auto.

Domestic sentiment was buoyed on heavy buying by foreign funds and domestic institutional investors and on strong global cues. As per provisional data, DIIs had bought shares worth Rs 1,117.24 crore, while FIIs accumulated equities to the tune of Rs 252.52 crore yesterday.

Asian shares advanced and the US dollar hovered near one-month lows as a US-Mexico deal to overhaul the North American Free Trade Agreement boosted risk appetite.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.6 per cent for a second straight day of gains. Australian shares and Japan's Nikkei both rose 0.7 per cent.

Brent crude rises to $76

 

Oil prices rose as risks of supply disruptions from Venezuela, Africa and Iran triggered expectations of a tightening market. Brent crude oil futures were at $76.37 per barrel at 0215 GMT, up 16 cents, or 0.2 per cent, from their last close. Read more

Dollar holds steady

 

The dollar was steady against the euro and a basket of major currencies after the United States and Mexico agreed to overhaul the North American Free Trade Agreement. The index edged 0.05 per cent higher to 94.834 as of 0135 GMT, making up small losses earlier. Read more

Nikkei surges to 11-week high

 

Japan's Nikkei surged to 11-week highs after a trade agreement reached between the United States and Mexico lifted investor risk sentiment and triggered buying in automakers. The Nikkei share average rose 0.6 per cent to 22,944.77. Read more

Rupee rebounds to 70.06

 

The rupee firmed up by 10 paise to 70.06 against the US dollar on dollar selling by exporters and banks amid fresh foreign funds inflows. The rupee sentiment was also boosted as domestic equities hit record highs in early trade and as the dollar remained weak against other currencies overseas. Click here to read more

Spot gold falls to $1,209

 

Gold inched down on Tuesday from a two-week high hit in the previous session, as the dollar firmed against yuan, making the precious metal expensive for buyers in the world's biggest consumer China. Spot gold fell 0.2 per cent to $1,209.04 an ounce at 0358 GMT. Read more

IL&FS Investment jumps 2%

 

Shares of IL&FS Investment Managers jumped as much as 2 per cent as the company will declare its first-quarter results of FY18 today. After opening higher at Rs 13.30 against the previous close of Rs 13.29, the stock touched intraday high of Rs 13.55 and a low of Rs 13.30 on the BSE. Read more

Panacea Biotec surges over 4%

 

Shares of Panacea Biotec jumped as much as 4.2 per cent in today's trade as the company has inked a tripartite pact with Natco Pharma and Breckenridge Pharmaceutical Inc to manufacture and supply Azacitidine injection, a chemotherapy drug, for the US market. Following a positive open, the company shares touched intraday high of Rs 266.75 and Rs 259 on the BSE. Read more

HIL shares jump 3.6%

 

 

Shares of HIL jumped as much as 3.6 per cent to Rs 2,342 as the company, through its wholly owned subsidiary, HIL International GmbH, Germany, has completed the acquisition of Parador Holdings GmbH. It has completed the acquisition after receiving all the regulatory approvals, including anti-trust approvals, from the German Federal Republic. Read more

Kaveri Seed buyback opens

 

Shares of Kaveri Seed were trading up by 0.09 per cent at Rs 640.30 on the BSE. The ₹200-crore buyback offer of Kaveri Seed Company opened on Monday and will end on September 7. The company has offered to buy back up to 29.63 lakh shares, or 4.48 per cent of the total paid-up equity, at ₹675 a share. Read more

Amaravati Bonds listed on BSE

 

Andhra Pradesh Chief Minister N. Chandrababu Naidu says the over-subscription of Amaravati Bonds 2018 reflects the trust of people and investors in the Andhra Pradesh government. The Chief Minister rang the bell at the Sir Dinshaw Petit International Convention hall to mark the listing of the bonds. Read more

Asian shares advanced again on Tuesday while major currencies held on to gains amid hopes global tariff tensions were abating as the United States and Mexico made a deal to overhaul the North American Free Trade Agreement. Read more

 

 

Benchmark indices continued their record-setting trend for the second straight session on heavy buying by foreign funds and domestic institutional investors owing to strong global cues.

The S&P BSE Sensex jumped 226.03 points to a new high of 38,920.14 and the Nifty50 climbed 66.45 points to scale a record peak of 11,758.40. The Sensex surpassed the previous high of 38,736.88 hit yesterday and the Nifty breached the intraday high of 11,700.95 hit on Monday.

Trading sentiment remained extremely bullish largely in tandem with a firm trend in other Asian bourses, as investors cheered the news of trade deal reached between the US and Mexico. Fresh buying by foreign funds too boosted the domestic sentiment.

Strong gains in metal, power, teck, healthcare and IT, fertilisers and sugar stocks lifted the key indices to new highs.

Index heavyweight Reliance Industries was quoting at an all-time high of Rs 1,304.30. Other top gainers that lifted the key indices were NTPC, Coal India, Vedanta, Sun Pharma, Asian Paints, Tata Steel, PowerGrid, ONGC, IndusInd Bank, Kotak Bank, HDFC, Tata Motors, Bharti Airtel and TCS, gaining up to 3.37 per cent.

As per provisional data, domestic institutional investors had bought shares a worth Rs 1,117.24 crore, while FIIs accumulated equities to the tune of Rs 252.52 crore yesterday.

Today's Pick

Investors with a short-term perspective can consider buying the stock of Tata Power Company at current levels. On Monday, the stock gained 5.5 per cent accompanied with an above average volume, breaching a key resistance at ₹73. Read more

 

 

Day Trading guide for Aug 28

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹2079 • HDFC Bank

 

₹1414 • Infosys