Markets Live: Sensex ends higher at 35,658; auto, realty stocks vroom

Closing bell

Domestic equities ended higher, posting their sixth weekly gain in seven, while the sentiment across the globe improved as investors calmly absorbed the imposition of tariffs by the United States and China.

The Sensex closed higher by 83.31 points or 0.23 per cent at 35,657.86, gaining 0.66 per cent for the week. It marked its highest weekly gain since June 1.

The Nifty ended up by 22.9 points or 0.21 per cent at 10,772.65. The index jumped 0.54 per cent for the week, the highest in nearly a month.

Top five Sensex gainers were Hero MotoCorp, Tata Motors, Bajaj Auto, TCS and M&M, while the major losers were Sun Pharma, NTPC, HDFC, Wipro and Vedanta.

Among BSE sectoral indices, auto, realty, capital goods and PSU remained investors' favourite, while healthcare, consumer durables and FMCG succumbed to selling pressure.

Bullion prices

Gold prices rose Rs 110 to Rs 31,690 per ten grams on the back of persistent buying by local jewellers even as the precious metal weakened overseas. However, silver slipped by Rs 100 to Rs 40,500 per kg due to reduced offtake by industrial units and coin makers. Read more

Benchmark indices partly trimmed its gains as the trade dispute between the United States and China escalated with US tariffs on $34 billion in Chinese imports taking effect and China immediately retaliating.

The Sensex was up 72.29 points or 0.2 per cent at 35,646.84 and the Nifty up 18.6 points or 0.17 per cent at 10,768.35.  Top five Sensex gainers were Hero MotoCorp, Bajaj Auto, Tata Motors, TCS and M&M, while the major losers were HDFC, Sun Pharma, NTPC, Wipro and Vedanta.

Can ARCs ease banks' burden?

Banks are now saddled with ₹10 lakh-odd crore of bad loans on their books, doubling from the levels seen two years ago. Hence, the idea of a public ARC that can lighten banks’ books and free up capital for lending, no doubt, sounds reassuring. Click here to read more

Higher sales push Sobha shares up

The stock of Bengaluru-based real estate developer, Sobha, ose nearly 5 per cent as the company has registered good sales in the first quarter of FY19. During this period, the company reported sales volume and value growth of 18 per cent and 22 per cent year-on-year, respectively. Click here to read more

Oil marketing cos gain

Shares of top oil marketing companies led the gains on NSE index, as US-China trade war fears weighed on oil prices. Hindustan Petroleum Corp Ltd jumped as much as 3.7 per cent, its biggest intraday percentage gain in nearly three weeks . Read more

Varroc Engineering jumps 7%

Shares of auto component maker Varroc Engineering made a smart debut on the bourses today, surging nearly 7 per cent against the issue price of Rs 967.  Read more

Coin notches up ₹1,500-crore worth transactions

PO28_Karthik_Rangappa.jpg

Coin — the direct mutual fund platform of Zerodha — has facilitated over ₹1,500 crore worth of investments as of today. Karthik Rangappa, Vice-President — Educational Services, Zerodha, says Coin has enabled customers to buy mutual funds online directly from asset management companies without any payment of commission. Click here to read more

FILE PHOTO

Indiabulls Real Estate has executed a definitive agreement with global private equity investor Blackstone Group to sell its commercial assets in Chennai for Rs 850 crore. The company shares were trading up by 1.51 per cent at Rs 151.55 on the BSE. Read more

SEBI revamps panel on alternative investment

SEBI has reorganised the committee that advises it on matters pertaining to further development of alternative investment and start-up ecosystem in the country. The Alternative Investment Policy Advisory Committee is chaired by Infosys founder N R Narayana Murthy. Read more

Benchmark indices continued their uptrend on heavy buying in realty, auto, PSU and capital goods stocks amid firm European cues. However, consumer durables, healthcare, TECk and FMCG succumbed to selling pressure.

The Sensex was up 147.83 points or 0.42 per cent at 35,722.38 and the Nifty up 45.2 points or 0.42 per cent at 10,794.95. Top five Sensex gainers were Hero MotoCorp, Tata Motors, Adani Ports, Bajaj Auto and TCS, while the major losers were ICICI Bank, Infosys, Sun Pharma, Wipro and HDFC.

European shares opened in positive territory as the trade dispute between the United States and China escalated further with U.S. tariffs on $34 billion in Chinese imports taking effect and China immediately vowing to retaliate.

The pan-European STOXX 600 index was up 0.2 per cent by 0724 GMT while Germany's exporter-heavy DAX rose only 0.1 per cent.

‘Value is the potential to become valuable’

SONAM UDASI, Fund Manager, Tata Mutual Fund

Sonam Udasi, Fund Manager, Tata Mutual Fund, is of the view that the current volatility in the market is a good time to pick compounding stories anchored in value. He speaks about how the asset management company’s close-ended NFO, Tata Value Fund is well-placed to tap into the emerging stories in the mid-cap space. Click here to read more

Franklin India Prima Fund

Among the relatively safer and steadier schemes in the mid-cap space, Franklin India Prima is a quality name you can consider investing in with a time horizon of at least five years. The fund is in its 25th year and has delivered extremely well since its inception — over 20 per cent returns annually. Click here to read more

SBI Blue Chip Fund

The ongoing market volatility is making even some good funds look pale. Among these is SBI Blue Chip, whose one-year return of 7 per cent lags the 12 per cent return of its benchmark S&P BSE 100 TRI (Total Return Index) and the category average of 10.7 per cent. Click here to read more

Vijay Mallya case

Arijit Basu

State Bank of India, the leader of consortium of 13 banks with exposure to economic fugitive Vijay Mallya, sees the UK’s High Court enforcement order in the Vijay Mallya case as a “good positive step”. This would bolster SBI’s efforts to recover the debts due to the 13 banks by the Vijay Mallya Group. Click here to read more

Domestic shares continued to trade higher on heavy buying in realty, auto, capital goods and oil & gas stocks amid weak global cues. However, consumer durables, TECk, FMCG and healthcare succumbed to selling pressure.

The Sensex was up 122.80 points or 0.35 per cent at 35,697.35 and the Nifty up 36.55 points or 0.34 per cent at 10,786.30.

Top five Sensex gainers were  Hero MotoCorp, Bajaj Auto, Tata Motors, YES Bank and TCS, while the major losers were Infosys, ICICI Bank, Sun Pharma, Infosys, Wipro and Coal India.

“Markets have bottomed out and we will see correction across sectors... for next few days. There was a lot of pessimism across the board - domestic items, crude prices, international geopolitics - and that has been priced in,” said Jayant Manglik, President-Retail Distribution, Religare Broking.

"Consumer and auto stocks are doing well due to good progress of the monsoon,'' he added.

A good monsoon is crucial to the Indian economy as it pushes up farm incomes, in turn driving demand and consumption.

Asian stocks bounced back from 9-month lows in volatile trade on Friday after Washington slapped tariffs on Chinese imports, a move many investors fear could be the start of a full-scale trade war between the world's two largest economies.

Spread-betters forecast a rise of 0.5-0.6 percent when Britain's FTSE, France's CAC and Germany's DAX open on Friday.

Mainland Chinese shares led Asia's recovery, partly helped by the perception that the tariff measures were already priced in. - Reuters

US unleashes trade war

In this April 2018 photo, shipping containers are being loaded on to Xin Da Yang Zhou ship from Shanghai, China at Pier J at the Port of Long Beach in Long Beach, California, US. The US has imposed 25 per cent duties on $34 billion in Chinese products and China, in turn, is firing back with corresponding tariffs.

US tariffs on $34 billion in Chinese imports took effect as a deadline passed today, and with Beijing having vowed to respond immediately in kind, the world's two biggest economies took a high-stakes turn towards all-out trade conflict. Click here to read more

Reliance fibre broadband entry

Goldman Sachs analysts say lack of clarity on exact launch timeline and tariffs of fixed-line services could suggest limited near-term impact on home broadband/DTH players. Reliance Industries shares were up 1.6 per cent, while Airtel down 0.7 per cent and Idea Cellular up 0.8 per cent.  Read more

Sobha stocks spurt over 6%

Shares of real estate developer Sobha jumped as much as 6.3 per cent to Rs 507.1, highest in three weeks on strong Q1 sales. Read more

‘Be prepared for heightened volatility in 2018’

After a strong 25 per cent plus rise in 2017, the equity markets are up only about 2 per cent in the first six months of 2018 amid bouts of volatility. Swati Kulkarni, Executive Vice-President and Fund Manager at UTI AMC, expects the volatility to continue. Click here to read more

Nifty 50 June Futures (10,809)

Traders with high risk appetite can go short if the contract reverses lower from the 10,820-10,830 resistance zone. Stop-loss can be placed at 10,845 for the target of 10,790. Revise the stop-loss lower to 10,815 as soon as the contract moves down to 10,805. Read more

Spot gold falls to $1,53/ounce

Gold prices nudged lower amid a steady dollar, with investors bracing for any impact on global markets from a deepening trade conflict between the United States and China. Spot gold had fallen 0.3 per cent to $1,253.11 an ounce by 0332 GMT. Click here to read more

The Sensex wiped off its initial losses and was trading higher by nearly 220 points on heavy buying in realty, metal, auto and oil & gas stocks amid weak global cues.

The BSE index was up 213.95 points or 0.6 per cent at 35,787.44 and the NSE index up 58.7 points or 0.55 per cent at 10,808.45.

Top five Sensex gainers were Tata Motors, Hero MotoCorp, Bajaj Auto, Reliance and Tata Steel, while the major losers were Wipro, NTPC, Bharti Airtel, Infosys, and ICICI Bank.

Asian stocks wobbled , as Washington slapped tariffs on Chinese imports, a move many investors fear could be the start of a full-scale trade war between the world's two largest economies.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.1 percent lower, pulling back from a modest early rise. The index has lost near 9 percent since June 7.

Rupee crosses 69-mark

The rupee fell 8 paise to 69.03 against the US dollar in early trade due to strengthening of the American currency overseas and sustained foreign capital outflows. Click here to read more

Forex market

Major currencies trod water early as investor caution prevailed ahead of Washington's implementation of its threatened tariffs on Chinese goods and the US jobs report due later in the day. The dollar index against at basket of six major currencies was a shade lower at 94.362 after slipping to 94.177, its lowest since June 26, the previous day. Click here to read more

Bank Nifty

Among the call option chain, the In-The-Money Bank Nifty Call 26,400 option was the actively traded contract on Thursday. The option price closed at Rs 219, up by 3.45 per cent. The OI in the contract jumped by 15.55 per cent. Click here to read more

Nikkei rebounds

Japan's Nikkei share average rose for the first time this week as investors took heart from reports that the United States and the European Union may agree to suspend auto tariffs, triggering short-covering on cyclical shares like automakers. Read more

Global markets

A man looks at a monitor showing stock information at a brokerage house in Fuyang, Anhui province, China.

Chinese stocks and the yuan slipped  ahead of the implementation of major tariffs that will move the trade row between the United States and China to a new level and cloud the global economic outlook. At 0215 GMT, the benchmark CSI300 Index was down 0.5 per cent after trading in positive territory earlier. Read more

Will joint venture add colour to Berger Paints?

Berger Paints has signed a shareholder agreement with Rock Paint Co of Japan for setting up a joint venture company in India - Berger Rock Paints Pvt Ltd or any other name as may be approved by the Registrar of Companies. Read more

Broker's call

CD Equisearch

CanFin Homes (Buy)

CMP: ₹334.10

Target: ₹432

CanFin Homes has recorded a CAGR loan book growth of 31.4 per cent in five years ending FY18, mainly led by growth in housing loans. With the Centre’s thrust on affordable housing, we expect its loan book to clock a 17.5 per cent CAGR over FY18-20, with housing and non-housing segment growing by CAGR 17.8 per cent and 14.6 per cent respectively. Read more

Apollo Hospitals has acquired 50 per cent stake in Lucknow-based 330-bed Medics Super Speciality Hospital for ₹91 crore. The acquisition would help Apollo Hospitals consolidate its position in Uttar Pradesh. The company shares were trading up 0.57 per cent at Rs 1,050.50 on the BSE.  Read more

Akzo Nobel buyback offer

The buyback offer of Akzo Nobel India will open for subscription by its shareholders today and close on July 19. The company intends to buy back 11.20 lakh shares at a price of ₹2,100 a share, with the total buyback size adding up to ₹235.20 crore. The company shares were trading up by 0.28 per cent at Rs 1,889 on the BSE. Read more

The board of Kanpur Plastipack on Thursday has extended the last date for payment of first and final call money (for rights shares) without interest to July 15. The decision followed the request of several shareholders. Read more

Subex , a leading telecom analytics solutions provider, has won a multi-million-dollar contract with Optus, Australia, to implement its ROC Network Asset Management solution. The company shares were trading down by 2.59 per cent at Rs 5.65 on the BSE. Read more

The 30-share BSE index Sensex opened lower by 10.24 points at 35,574.55 against the previous close of 35,564.31 and the 50-share NSE index Nifty down 4.4 points at 10,745.35 against 10,749.75.

Today's stock pick

SMS Pharmaceuticals (₹73.8): Buy

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The near-term outlook is bullish for the stock of SMS Pharmaceuticals. It can extend the up-move and reach the price targets of ₹77 and ₹78.5 in the coming trading sessions. Traders with a near-term horizon can buy the stock with a stop-loss at ₹72. 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:

₹2123 • HDFC Bank

₹1284 • Infosys

₹272 • ITC

Click here to view the full guide

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