Markets Live: Sensex soars 241 points; Nifty ends at 10,689

Easing geopolitical tensions, sharp correction in global crude prices prop up domestic sentiment

4.05 pm

Closing bell

The Sensex closed higher by 240.61 points or 0.69 per cent at 35,165.48 and the Nifty ended up 83.5 points or 0.79 per cent at 10,688.65.

Easing geopolitical concerns and a sharp correction in global crude prices boosted the domestic sentiment. An appreciating rupee, encouraging earnings by some more companies and easing concerns over US-North Korea summit too propped up investor sentiment.

Top five Sensex gainers were Sun Pharma, Coal India, L&T, Asian Paints and SBI, while the major losers were TCS, PowerGrid, Infosys, M&M and Bharti Airtel.

Barring IT and TECk, all other BSE sectoral indices ended in the positive zone.

 

 

3.50 pm

Global markets

 

European stocks gave up early gains and bond yields recovered from lows as early elections loomed in Italy after the anti-establishment 5-Star and League parties abandoned plans to form a government. Read more

3.35 pm

European markets

 

Italian banks led a sharp European stocks rebound after the failure of anti-establishment parties to form a government lifted the euro zone's peripheral markets with the prospect of fresh elections. Read more

3.25 pm

Bullion prices

 

Gold prices dipped below the Rs 32,000-mark, tumbling Rs 405 to Rs 31,965 per ten gram at the bullion market today due to a weak trend overseas and slump in demand from local jewellers.  More on this

3.10 pm

Asia's petrol profits rebound

 

 

A seasonal splurge has helped lift Asia’s crimped petrol refining profits out of a long slump, but higher crude prices and the rise of energy-efficient cars are set to leave margins stuck at historically weak levels. Click here to read more

2.55 pm

IFFCO picks up 37% stake in JPMC

 

Fertiliser major IFFCO and Indian Potash have acquired 37 per cent stake in Jordan’s largest mining and chemical firm JPMC for about Rs 900 crore.  The shares have been purchased from Kamil Holdings, owned by Brunei Investment Agency, which is the largest shareholder in Jordan Phosphate Mines Company. More on this

2.45 pm

The Sensex surged nearly 300 points at the pre-close trade on easing geopolitical concerns and a sharp correction in global crude prices. An appreciating rupee, encouraging earnings by some more companies and easing concerns over US-North Korea summit too boosted the investor sentiment.

The BSE index was trading higher by 298.98 points or 0.86 per cent at 35,223.85 and the NSE index up 90.90 points or 0.86 per cent at 10,696.05.

Top five Sensex gainers were Sun Pharma, Coal India, Asian Paints, L&T and YES Bank, while the major losers were TCS, PowerGrid, Infosys, M&M and Wipro.

Barring IT and TECk, all other BSE sectoral indices were trading in the positive zone.

As per provisional data, DIIs had bought shares worth Rs 887.76 crore, while foreign portfolio investors sold shares worth Rs 768.29 crore.

2.35 pm

NCLAT to hear RCom's plea

 

The National Company Law Appellate Tribunal will hear on Tuesday RCom’s plea challenging NCLT’s decision to start insolvency proceedings against the company on a petition filed by Swedish telecom equipment major Ericsson. Click here to read more

2.20 pm

Zydus Cadila gets USFDA nod

 

 

Zydus Cadila has received final approval from the US health regulator to market Nystatin ointment and Omeprazoleand Sodium Bicarbonate capsules. Nystatin ointment is used to treat fungal skin infections. Read more

2.05 pm

L&T arm bags new orders

 

Larsen & Toubro has announced its Water and Effluent Treatment business, a part of L&T Construction, has secured orders worth Rs 5,704 crore for irrigation and water supply works in Madhya Pradesh. Click here to read more

1.50 pm

Fortis bidding process

 

Fortis Healthcare today said the Munjal-Burman combine, whose bid for investing Rs 1,800 crore was approved by its board, has consented to re-opening the bidding process. More on this

1.35 pm

Nifty 50 May Futures (10,672)

 

Traders can make use of intra-day dips to buy the contract while maintaining a fixed stop-loss at 10,640 levels. Continuation of the up move can encounter resistance at 10,700. Click here to read more

1.20 pm

Sensex gainers, losers

Nifty gainers, losers

1 pm

Castrol tests a key long-term base

 

Since encountering a significant long-term resistance at around ₹272 (adjusted) in December 2014, the stock of Castrol India has been trending down. However, significant long-term support at ₹180 provided a strong base and cushioned the stock until February 2017. Click here to read more

 

 

12.50 pm

Attractive option for young retirees

 

Senior citizens who have completed 60 years of age and are looking for regular pension have more reason to cheer now. Pradhan Mantri Vaya Vandana Yojana (PMVVY), a pension scheme launched by the Government and operated by the LIC, was slated to close in May 2018, but will now accept investments till March 2020. Click here to read more

12.35 pm

The Sensex was trading higher by nearly 250 points on easing geopolitical concerns and a sharp correction in global crude prices. An appreciating rupee, encouraging earnings by some more companies and easing concerns over US-North Korea summit too boosted the investor sentiment.

The BSE index was up 247.70 points or 0.71 per cent at 35,172.57 and the NSE index up 86.45 points or 0.82 per cent at 10,691.60.

12.15 pm

NBCC hits over 2-month low

 

Shares of NBCC (India) Ltd fell as much as 3.9 per cent to Rs 94, in their biggest intra-day percentage drop in over 2 months. Read more

11.55 am

BoB hits 3-week high

 

Bank of Baroda Ltd rose as much as 3.7 per cent to Rs 146.50, its highest in nearly three weeks. The country's third largest state-run bank had on Friday posted a loss of Rs 3,102 crore in the fourth quarter from a profit last year. Read more

11.40 am

Sun Pharma jumps 7%

 

Shares of Sun Pharmaceutical Industries Ltd rose as much as 7 per cent to Rs 499.05, its biggest daily percentage gain since December 27, 2017. Read more

11.25 am

TechM slumps 6%

 

Tech Mahindra shares fell as much as 5.8 per cent to Rs 662.35 in the biggest percentage loss since May 29, 2017. More on this

11.10 am

Plan a long call calendar spread on SBI

Despite a strong recovery recently, the outlook for the stock of State Bank of India (₹267.6) remains cautious. One more conclusive close above ₹263 is needed to change the outlook to positive. Immediate resistance is at ₹296 and a close above ₹313 will turn the long-term outlook to positive. A crucial support is at ₹242, a close below which can drag the stock to ₹220 levels. Read more

10.50 am

Weekly trading guide for SBI, ITC, Infosys, RIL and Tata Steel

Read more here

 

10.40 am

Rupee climbs to 67.39

 

The rupee strengthened by 39 paise to 67.39 against the dollar at the interbank forex market today on fresh selling of the greenback by exporters and banks. Click here to read more

10.25 am

Nikkei sheds early gains

 

Japanese shares gave up initial gains on Monday as a further slide in oil prices pulled down energy-related stocks, offsetting renewed hopes for a US-North Korea summit next month. Read more

10.10 am

Asian markets

On Wall Street, the S&P 500 gained 0.25 per cent. File Photo   -  Reuters

 

US stock futures rose on signs that the United States and North Korea are still working towards holding a summit next month, while oil prices extended losses on expectations of more supply from major producers. Click here to read more

10 am

The Sensex was trading higher by nearly 170 points on easing geopolitical concerns and a sharp correction in global crude prices.Strengthening of rupee against the odllar, encouraging earnings by some more companies and easing concerns over US-North Korea summit too boosted the investor sentiment.

Traders said building up of fresh long positions, continued buying by domestic institutional investors, and fall in Brent crude prices by 1.88 per cent to $75 per barrel, kept the bullish sentiment intact.

The Sensex was up 168.82 points or 0.48 per cent at 35,093.69 and the Nifty up 52.85 points or 0.5 per cent at 10,658. Barring IT, TECk and consumer durables, all other BSE sectoral indices were trading in the positive zone.

Top five Sensex gainers were  Sun Pharma, Coal India, Axis Bank, Maruti and YES Bank, while the major losers were TCS, IndusInd Bank, Infosys, Wipro and PowerGrid.

 

As per provisional data, DIIs had bought shares worth Rs 887.76 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 768.29 crore on Friday.

9.55 am

NSE-SGX case

The NSE-SGX dispute started in February, when the NSE withdrew from an 18-year-long pact with the Singaporean bourse   -  Reuters

 

The Bombay High Court has extended its interim stay on the launch of Nifty-based new derivative contracts by Singapore Exchange Ltd (SGX) till May 31. Read more

9.45 am

FPIs pull out over Rs 26,700 cr

 

Foreign investors have pulled out a massive $4 billion (over Rs 26,700 crore) from capital markets (equity and debt) so far this month, primarily due to surge in global crude prices. Click here to read more

9.35 am

Gold likely to remain under pressure

 

The yellow metal bounced back above $1,300 again to a high of $1,307 on Friday. But the possibility of gold sustaining above $1,300 remains uncertain as Trump on Friday said that his meeting with Kim could still happen as scheduled on June 12, which could once again ease the tension. Click here to read more

9.25 am

To hedge or not to hedge

 

“Think long-term,” “ignore short-term noise,” “don’t panic and just stay put” — these are some of the instructions that have been drummed in to you from the time when you were a greenhorn in the world of equity investing. Click here to read more

9.15 am

The Sensex jumped 112.8 points at 35,037.67 and the Nifty rose 46.05 points to 10,651.20 against 10,605.15.

9.10 am

Index Outlook

MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.55 per cent in early trade. File Photo   -  Reuters

 

Besides March quarter earnings, crude oil prices and rupee movement, investors need to watch out for January-March 2018 GDP data due this week. Moreover, the May month derivatives expiry can create some choppiness in the market. The May month auto sales numbers will also be released towards the end of the week. Click here to read more

Published on May 28, 2018