Markets Live: Sensex rebounds 207 points, Nifty closes at 11,435; Sun Pharma soars 7%, YES Bank 2.9%

Closing bell

The Sensex ended higher by 207.10 points or 0.55 per cent at 37,852 and the Nifty up 79.35 points or 0.7 per cent at 11,435.10 on strong macroeconomic data. The gauge had lost 379.47 points in the previous two sessions.

Top five Sensex gainers were Sun Pharma, YES Bank, ICICI Bank, Axis Bank and Reliance, while the major losers were Hero MotoCorp, L&T, Adani Ports, Bharti Airtel and NTPC.

 

Among BSE sectoral indices, healthcare, realty, banking and FMCG remained investors' favourite, while capital goods, infrastructure, power and PSU succumbed to selling pressure.

 

Macro data

The annual rate of inflation based on wholesale prices eased to 5.09 per cent in July 2018 from over four-year high of 5.77 per cent in the previous month. Also, retail inflation fell to a nine-year low of 4.17 per cent in July.

Click here to read more

As per provisional data, domestic institutional investors bought shares worth a net Rs 216.29 crore, while foreign portfolio investors sold shares worth a net Rs 971.86 crore yesterday.

World share markets regained their footing as the threat from the collapse of the Turkish lira ebbed and reassuring German data offset signs of slowing growth in China.

 

Global markets

 

World share markets regained their footing as the threat from the collapse of the Turkish lira ebbed and reassuring German data offset signs of slowing growth in China. The Shanghai blue-chip index was off 0.9 per cent and weighing on MSCI's broadest index of Asia-Pacific shares outside Japan, which eased 0.25 per cent. Read more

Bullion prices

 

Gold eased by Rs 30 to Rs 30,630 per 10 gram due to a subdued global trend amid tepid demand from local jewellers. Silver too plunged by Rs 335 to Rs 38,715 per kg due to poor offtake by industrial units and coin makers. Read more

Rupee rebounds to 69.68

 

The rupee rebounded to 69.68 after falling to a fresh lifetime low of 70.09 on positive macro data. The domestic unit hovered in a range of 70.09 and 69.68 before being quoted at 69.85, up 6 paise at 3.20 pm local time. Read more

Big bonus for Britannia shareholders

 

Shareholders of Britannia Industries had reasons to smile last week. Apart from posting a double-digit growth in revenues and profits in the quarter-ended June 2018, the company announced ‘bonus debentures’ for its shareholders in a gesture to mark its centenary year in business. The company will issue one bonus debenture of ₹60 each for one equity share of ₹2 each, totalling ₹721 crore. Click here to read more

Indraprastha Gas: Clean and green - Buy

 

Continuing its fine run from FY 2017-18, the Delhi-based city gas distributor Indraprastha Gas put up a good show in the June 2018 quarter too. Aided by healthy volume growth of 13 per cent and price hike of 10 per cent, the company’s sales grew 24 per cent Y-o-Y, while profit rose 9 per cent. Click here to read more

NSE sectoral indices

 

Nifty gainers, losers

 

BSE sectoral indices

Realty, IT, FMCG and healthcare remained investors' favourite, while infrastructure, power, PSU and capital goods succumbed to selling pressure.

 

Sensex gainers, losers

Top five Sensex gainers were Sun Pharma, YES Bank, Axis Bank, Reliance and ICICI Bank, while the major losers were Adani Ports, Hero MotoCorp, Bharti Airtel, L&T and NTPC.

 

Domestic shares were trading higher by nearly one per cent on positive macroeconomic data, sustained buying by DIIs and robust corporate earnings.

Wholesale inflation eased to 5.09 per cent in July on account of cheaper food articles, especially fruits and vegetables, from 5.77 per cent in June. Also, retail inflation fell to a nine-month low of 4.17 in July.

Read more

The  Sensex was trading higher by 253.08 points or 0.67 per cent at 37,897.98 and the Nifty up 94.15 points or 0.83 per cent at 11,449.90.

Wipro is range-bound

 

The stock of Wipro (₹279) has been moving in a channel between ₹260 and ₹325 for quite some time. In the short term, we expect the stock to move upwards. Wipro finds an immediate support at ₹256 and the resistance at ₹284. Click here to read more

Jindal Drilling rallies over 16%

 

Shares of Jindal Drilling and Industries Ltd jumped as much as 16.2 per cent, their biggest gain since March 22 on strong results. The company has reported an 81.9 per cent jump in June-quarter profit at Rs 9.93 crore ($1.42 million). Click here to read more

CBDT asked to clarify stand on STT

The Central Board of Direct Taxes has been summoned by the Bombay High Court to seek clarity on the securities transaction tax that the NSE said it is imposing on the delivery-based trading in derivatives segment. The court has asked the CBDT to clarify on the matter on Thursday. Click here to read more

Kotak PMS eyes 15-25% growth

 

In the next three years, one will make more money in corporate banks than retail and MSME banks, says Anshul Saigal, who heads Kotak’s Portfolio Management Services since 2013. Click here to read more

The Sensex surged nearly 250 points and the Nifty hovered around the 11,500-mark as wholesale inflation eased to 5.09 per cent in July from 5.77 per cent in June. Investor sentiment was also buoyed as the country's retail inflation fell to a nine-month low of 4.17 in July.

The S&P BSE index was trading higher by 247.72 points or 0.66 per cent at 37,892.62 and the Nifty50 up 80.4 points or 0.71 per cent at 11,436.15.

Among BSE sectoral indices, realty index gained the most followed by IT, FMCG and healthcare. On the other hand, infrastructure, power, PSU and capital goods succumbed to selling pressure.

Top five Sensex gainers were YES Bank, Axis Bank, Sun Pharma, Reliance and HUL, while the major losers were Adani Ports, Vedanta, NTPC, Hero MotoCorp and L&T.

Nifty 50 August futures (11,432)

 

The near-term outlook will remain bullish as long as the contract trades above 11,400 levels. Traders with a short-term view can make use of dips to buy the contract, while maintaining a fixed stop-loss at 11,395 levels. Click here to read more

Wholesale inflation eases to 5.09%

 

Wholesale inflation eased to 5.09 per cent in July on account of cheaper food articles, especially fruits and vegetables. According to government data, the wholesale price index-based inflation was recorded at 5.77 per cent in June. Read more

Gati shares slump over 5%

 

Shares of logistics company Gati Ltd fell as much as 5.1 per cent, its biggest daily percentage loss since June 27. The stock hit its lowest since July 27. Read more

Tata Steel jumps over 3%

 

Shares of India's biggest steelmaker, Tata Steel, jumped as much as 3.2 per cent. The stock was the top percentage gainer on NSE index and gained the most in a week. Read more

Mazagon Dock gets nod for IPO

 

Mazagon Dock Shipbuilders has received approval from SEBI to sell shares through an IPO. India’s biggest warship builder currently has orders for building four P-15B destroyers, four P-17A stealth frigates and five Scorpene class submarines for the Indian Navy, valued at a combined ₹₹52,760.8 crore. Read more

Gold recovers from 18-month low

 

Gold prices recovered from an 18-month low hit in the previous session as a break below a key psychological level triggered buying, while the US dollar pared gains after scaling a 13-month high. Click here to read more

Sensex gainers, losers

Top Nifty gainers, losers

 

The Sensex was trading higher by nearly 170 points and the Nifty above the 11,400-level on positive economic data, buying by domestic institutional investors, strengthening of rupee against the dollar and encouraging earnings by some blue-chip firms, including Tata Steel.

The S&P BSE index was up 163.30 points or 0.43 per cent at 37,808.20 The gauge had lost 379.47 points in the previous two sessions. Similarly, the Nifty50 was up 53.3 points or 0.47 per cent at 11,409.05.

Buying activity gathered pace on positive economic data after retail inflation fell to a 9-month low of 4.17 per cent in July on declining vegetable prices which may prompt the Reserve Bank to pause interest rate hike in its next monetary policy review.

Click here to read more

In the last two reviews, the RBI has raised the key repo rate by 0.25 per cent each on inflationary concerns. The next bi-monthly policy is to be unveiled on October 5.

As per provisional data, domestic institutional investors bought shares worth a net Rs 216.29 crore while foreign portfolio investors sold shares worth a net Rs 971.86 crore yesterday.

Brent crude edges up to $73/barrel

 

Oil prices rose after a report from OPEC confirmed that top exporter Saudi Arabia had cut production to avert looming oversupply. Front-month Brent crude oil futures were at $72.81 per barrel at 0515 GMT, up 20 cents, or 0.3 per cent, from their last close. US West Texas Intermediate crude futures were up 25 cents, or 0.4 per cent, at $67.45 per barrel. Click here to read more

 

Euro hovers near 1-year low

 

The euro hovered near one-year lows against the dollar and the Swiss franc as the Turkish lira wobbled, on worries economic troubles in Turkey could hit European banks and spread to other emerging economies. Click here to read more

Rupee breaches 70/dollar

 

The rupee crashed to a fresh lifetime low of 70.09 against the dollar as investors were nervous that the plunge in the lira could prompt capital outflows from other emerging economies that run a hefty current account deficit and rely on foreign capital. Click here to read more

Bank Nifty

 

Among the call option chain, the In-The-Money Bank Nifty Call 27,700 option was the actively traded contract on Monday. The option price closed at Rs 244.30, down 48.45 per cent. However, open interest in the contract jumped 72 per cent. Click here to read more

UTI MF-T Rowe hearing adjourned

 

 

The Bombay High Court has adjourned hearing in the case of the US-based financial institution T Rowe Price International against UTI Mutual Fund to August 28 after the petitioner said it is negotiating for an out-of-court settlement in the issue. Click here to read more

The Sensex was trading higher by nearly 200 points and the Nifty above the 11,400-level on positive economic data, buying by domestic institutional investors, strengthening of rupee against the dollar and encouraging earnings by some blue-chip firms, including Tata Steel.

The S&P BSE index was up 184.48 points or 0.49 per cent at 37,829.38. The gauge had lost 379.47 points in the previous two sessions. Similarly, the Nifty50 was up 59.85 points or 0.53 per cent at 11,415.60.

Tata Steel surged 1.51 per cent as its consolidated net profit jumped more than two-fold to Rs 1,933.80 crore in the April-June quarter of 2018-19 compared with Rs 921.09 crore during the same period a year ago.

Buying activity gathered pace on positive economic data after retail inflation fell to a 9-month low of 4.17 per cent in July on declining vegetable prices which may prompt the Reserve Bank to pause interest rate hike in its next monetary policy review.

Click here to read more

In the last two reviews, the RBI has raised the key repo rate by 0.25 per cent each on inflationary concerns. The next bi-monthly policy is to be unveiled on October 5.

As per provisional data, domestic institutional investors bought shares worth a net Rs 216.29 crore while foreign portfolio investors sold shares worth a net Rs 971.86 crore yesterday.

What to watch

Today is a crucial day for Bhushan Power and Steel as the deadline for JSW Steel, Tata Steel and Liberty House to revise their bids had ended on Monday. The race for the stressed Bhushan Power heated up after JSW Steel hiked its bid to ₹19,000 crore (₹11,000 crore), a day before the CoC was supposed to place the highest bid for voting. Click here to read more

What to watch

 

Allahabad Bank, Aster DM, Bharat Dynamics, Cox & Kings, DB Realty, Dilip Buildcon are among 1,066 firms that will declare their April-June quarter results today. Read more

What to watch

 

The Competition Commission of India has tweeted that it finds no appreciable adverse effects on competition in the proposed acquisition of Ruchi Soya by Adani Wilmar. Adani has offered to pay ₹6,000 crore for Ruchi Soya - ₹300 crore more than Baba Ramdev’s Patanjali Ayurved. Click here to read more

Broker's call

Anand Rathi

PNC Infratech (Buy)

CMP: ₹166

Target: ₹213

Click here to read more

Day Trading Guide

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

₹2090 • HDFC Bank

 

₹1409 • Infosys

 

₹305 • ITC

 

₹166 • ONGC

 

₹1187 • Reliance Ind.

 

₹294 • SBI

 

₹2000 • TCS

 

11381 • Nifty 50 Futures

 

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

Click here to read more

Opening bell

The 30-share BSE index Sensex opened higher by 118.05 points at 37,762.95 against Monday's close of 37,644.90 and the 50-share NSE index Nifty up 33.5 points at 11,389.25 against 11,355.75.

Today's stock pick

 

Rico Auto Industries (₹85.7): Buy

Investors with a short-term perspective can buy the stock of Rico Auto Industries at current levels. The stock jumped 5.4 per cent accompanied with an above average volume on Monday, decisively breaking above a key resistance at ₹84. Click here to read more