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Closing bell
The Sensex ended higher by 145.14 points or 0.4 per cent at 36,496.37 and the Nifty up 53.1 points or 0.48 per cent at 11,010.20 on heavy buying in IT, TECk and healthcare stocks amid weak global cues.
Investors accumulated fresh positions ahead of the outcome of the no-confidence motion against the government in the Lok Sabha.
A sharp recovery in the rupee from its record low also supported the domestic sentiment.
The Sensex touched intraday high of 36,567.34 and a low of 36,335.61. The gauge had lost 168.73 points in the previous two sessions. The Nifty touched intraday high of 11,030.25.
Sensex gainers, losers
However, the benchmarks logged the first weekly loss in three weeks. The Sensex fell 45.26 points or 0.12 per cent, while the Nifty lost 8.70 points, or 0.08 per cent, during the week.
As per provisional data, domestic institutional investors bought shares worth Rs 470.02 crore yesterday, while foreign portfolio investors sold equities to the tune of Rs 315.69 crore.
Gold, silver futures
Gold prices fell 0.45 per cent to Rs 30,007 per ten gram at the futures trade as participants trimmed their positions, tracking a weak trend overseas. Read more
Live: Debate on no-confidence motion
L&T shares ended the session up 1.1 per cent at Rs 1,269.35 as the company's heavy engineering business of infrastructure major has bagged orders worth Rs 1,600 crore since the beginning of the current financial year. Click here to read more
IT stocks gain
IT stocks gained as rupee hit a record low. Shares of Indian IT firms rose with the Nifty IT index climbing 1.6 per cent, accounting for more than half of broader NSE index's gains. Infosys Ltd and Tech Mahindra Ltd rose 3.4 per cent and 2.9 per cent, respectively. Read more
SEBI gives assurance to Mauritius Govt
File Photo
SEBI has assured the Mauritian government that it will not prepare a list of “high-risk jurisdictions” to monitor capital flows from such nations with greater scrutiny. The move comes amid media reports tagging Mauritius among the list of high-risk countries. Read more
Essel Corporate to acquire stake in ZEEL
Essel Corporate LLP plans to acquire 1.1 crore shares, or 1.15 per cent stake, of Zee Entertainment Enterprises from Essel International, another promotor group entity, at an estimated price of over Rs 610 crore. Read more
The Sensex was trading higher by 180 points and the Nifty above the 11,000-mark on heavy buying in IT, TECk and realty stocks despite weak European cues. The BSE index was up 179.27 points or 0.49 per cent at 36,530.50 and the NSE index up 60.35 points or 0.55 per cent at 11,017.45.
Domestic sentiment was buoyed as the Narendra Modi Government is confident of winning the no-trust vote moved by the Opposition parties.
IT and TECk stocks found heavy investors support as the rupee weakened to intraday low of 69.12 against the dollar.
A no-confidence motion is currently underway in parliament against Prime Minister Narendra Modi's government.
“There is a lot of nervousness around the no-confidence motion. It will, most likely, not get passed and the government will sail through. Nonetheless, any political instability impacts market sentiment in the near term,” said Siddhartha Khemka, Head of Retail Research, Motilal Oswal Securities.
“Focus will continue to be on the large caps,” he said.
Top five Sensex gainers were Reliance, Infosys, Sun Pharma, ICICI Bank and IndusInd Bank, while the major losers were Bajaj Auto, Hero MotoCorp, Vedanta, ONGC and Kotak Bank.
PC Jeweller hits record low
Shares of PC Jeweller today hit a record low, and technicals suggest that the stock may test Rs 49.60. The shares plunged as much as 7.8 per cent to a record low of Rs 65.30. Read more
Sterlite Tech soars over 10%
Shares of optical fibre maker Sterlite Tech surged over 10 per cent as the company reported nearly two-fold jump in June quarter results. In terms of equity volume, 7.23 lakh shares of the company were traded on the BSE and over 46 lakh shares changed hands on the NSE. Read more
Lok Sabha adjourned briefly
A view of the Lok Sabha assembly during the Parliament Monsoon session, in New Delhi. File Photo
The Lok Sabha was adjourned briefly amid uproar by Treasury benches over Rahul Gandhi’s remarks during no trust debate. Congress president Rahul Gandhi attacked the government in Lok Sabha over unfulfilled and “tall” promises. Click here to read more
Bajaj Auto results
Bajaj Auto Ltd has reported 24.5 per cent increase in consolidated net profit at Rs 1,041.78 crore for the first quarter ended June 30, 2018 on robust sales. The company shares were trading down by 6.71 per cent at Rs 2,904 on the BSE. Read more
NCLAT allows lenders to finalise Bhushan Power bid
The National Company Law Appellate Tribunal has given a go-ahead to the lenders’ meeting of debt-ridden Bhushan Power & Steel, directing it to finalise a bid for the company. It has directed the committee of creditors to consider the resolution plans submitted by three firms -- Tata Steel, Liberty House and JSW Steel. C lick here to read more
Benchmark indices were trading higher, driven by IT stocks such as Infosys Ltd and HCL Technologies Ltd, as the rupee hit an all-time low, while investors awaited the outcome of a no-confidence motion against the government.
The rupee hit a record low of 69.12 per dollar in early trade, tracking weakness in the yuan with traders monitoring the domestic stock market for further direction. A weak rupee could translate into higher returns from the U.S. market, the biggest source of revenue for technology companies.
Meanwhile, traders took a cautious stance amid talks that the Reserve Bank of India could step in to prevent a further decline in the currency.
A no-confidence motion is currently underway in Parliament against Prime Minister Narendra Modi's government.
The broader NSE index was up trading up by 33.3 points or 0.3 per cent at 10,990.40, while the benchmark BSE index was trading higher by 89.69 points or 0.25 per cent at 36,440.92.
“There is a lot of nervousness around the no-confidence motion. It will, most likely, not get passed and the government will sail through. Nonetheless, any political instability impacts market sentiment in the near term,” said Siddhartha Khemka, Head of Retail Research, Motilal Oswal Securities.
“Focus will continue to be on the large caps,” he said.
Technology stocks accounted for nearly half the gains on the indexes, with Nifty IT index rising up to 1.9 per cent. Infosys, which gained as much as 3.8 per cent, was the top performer on both indexes, while HCL climbed up to 2 per cent. Wipro Ltd, which is due to report its first-quarter results later in the day, inched up 0.2 per cent. - Reuters
Live: Lok Sabha no-confidence vote
Bajaj Finance
Bajaj Finserv
Shares of non-banking financial firm Bajaj Finserv and unit Bajaj Finance Ltd climb 5.7 per cent and 6.7 per cent, respectively to all-time highs. Read more
Gayatri Projects bags new orders
Gayatri Projects has bagged two orders worth Rs 2,759 crore for the development of the Purvanchal Expressway project from Uttar Pradesh Expressways Industrial Development Authority. Read more
Nifty 50 July Futures (11,027)
The near-term view is positive. Intermediate support is in the 11,010 and 10,990 region. As long as the contract trades above this support zone, a rally to 11,050 and 11,075 is possible in the near term. Click here to read more
Zydus Cadila has received final approval from the US health regulator to market Spironolactone tablets, used to treat high blood pressure and heart failure. Shares of Cadila Healthcare, the listed entity of the group, were trading down 0.67 per cent at Rs 341 on the BSE. Read more
DB Corp performance
The stock of DB Corp, the publisher of one of India’s most widely circulated Hindi newspapers, Dainik Bhaskar , is down about 2 per cent in trade today. Despite strong revenue growth, the steady increase in cost has impacted margins for the company. Click here to read more
NDA to prove majority in Parliament
Ananth Kumar, Minister of Parliamentary Affairs (file photo)
Union Minister Ananth Kumar today exuded confidence that the NDA would prove its majority in Parliament and said the Opposition would see the strength of “NDA plus” during the no-trust motion. Read more
Axis Equity Hybrid Fund, which will invest across equity and debt markets to generate stable returns for investors in the medium term, opened for subscription today. The minimum investment is ₹5,000 and it has direct and regular plans with both growth and dividend options. Click here to read more
Pre-noon trade
Benchmark indices continued their uptrend on hopes of Narendra Modi Government winning the no-trust vote brought in by TDP and other Opposition parties.
The Sensex was trading higher by 161.76 points or 0.44 per cent at 36,512.99 and the Nifty up 51.7 points or 0.47 per cent at 11,008.80.
Major Sensex gainers were Infosys, L&T, ICICI Bank, Sun Pharma and Reliance, while the major losers were Vedanta, ONGC, Kotak Bank, HDFC and YES Bank.
Among BSE sectoral indices, IT, TECk, capital goods and realty remained investors' favourite, while metal, oil & gas, PSU and FMCG succumbed to selling pressure.
As per provisional data, DIIs bought shares worth Rs 470.02 crore yesterday, while foreign portfolio investors sold shares to the tune of Rs 315.69 crore.
Yet another clash between brokers, NSE
The NSE has issued a circular that it will levy 0.1 per cent STT from July 26 on transactions involving physical delivery in derivatives
Brokers on India’s equity derivates markets are locked in combat with the National Stock Exchange over levy of securities transaction tax following the introduction of physical settlement of trades. Click here to read more
Debate on no-confidence motion begins
The Lok Sabha took up for debate the no-trust vote against the Narendra Modi Government, the first since the BJP-led dispensation came to power four years ago. Telugu Desam Party’s Jayadev Galla initiated the discussion on the no-confidence motion.
Opposition parties have brought the motion against the government on several issues like special status to Andhra Pradesh, cow vigilantism, lynchings, atrocities against women and Dalits and alleged dilution of the SC/ST Act.
In a House of 535 members, the ruling National Democratic Alliance has 313 members in the Lok Sabha, including 274 (including the Speaker) of BJP, 18 of Shiv Sena, six LJP and four SAD. The stated strength of the Opposition is 222, including 63 of the Congress-led UPA, 37 of AIADMK, 34 of TMC, 20 BJD, 16 TDP and 11 TRS.
The Opposition move for a no-confidence motion was not allowed in the last Budget Session that was washed out due to continued uproar by TDP, TRS and some other parties demanding that government agree to the motion.
The Speaker had then disallowed them on the ground that the House was not in order as there was continuous upoar and protests in the Well by members on various issues. - PTI
Gold slips for 6th straight day
Gold prices eased for a sixth straight session, hovering near a one-year low hit in the previous session, as the dollar traded close to a one-year high. Spot gold was down 0.3 per cent at $1,218.72 an ounce at 0352 GMT. Read more
Brent crude rises to $73
Brent, US oil trim earlier gains. File Photo
Crude prices rose but were set to drop for the week due to concerns over oversupply and lower demand as a result of a possible economic slowdown caused by the trade conflict between the United States and China, the world's two biggest oil users. Brent oil rose 7 cents to $72.65 a barrel by 0354 GMT. Read more
The Sensex was trading higher by 180 points and the Nifty above the 11,000-mark as investors were hopeful of the Modi Government winning the first no-confidence motion it is facing in four years. Sustained buying by DIIs too buoyed the domestic sentiment.
The BSE index was up 179.71 points or 0.49 per cent at 36,530.94 and the NSE index up 55.85 points or 0.51 per cent at 11,012.95.
Top five Sensex gainers were Infosys, L&T, ICICI Bank, Reliance and Sun Pharma, while the major losers were Vedanta, ONGC, PowerGrid, HDFC and Bharti Airtel.
However, investors adopted a cautious approach due to a weak trend in other Asian markets.
The Chinese yuan skidded to one-year lows on Friday, unnerving investors in Asian stock markets and stoking concerns Beijing's currency management could become the next flash point in a fierce trade dispute with the United States.
Brent crude rises to $73/barrel
Crude prices rose but were set to drop for the week due to concerns over oversupply and lower demand as a result of a possible economic slowdown caused by the trade conflict between the United States and China. Brent oil rose 7 cents to $72.65 a barrel by 0354 GMT.
Bank Nifty
Among the call option chain, the In-The-Money Bank Nifty Call 26,700 option was the actively traded contract. The option price closed at Rs 275.35, down by Rs 74.55 or 21.30 per cent. However, open interest in the contract jumped by 63.65 per cent. Click here to read more
Asian markets
Asian stocks eked out modest gains on Friday. File Photo
Most Asian stock markets retreated after China allowed its yuan currency to slide further, stoking concerns Beijing's currency management could become the next flash point in a fierce trade conflict with the United States. MSCI's broadest index of Asia-Pacific shares declined as much 0.1 per cent at one point. Read more
What to watch
Wipro, Bajaj Auto, MCX, HDFC Life, and Ceat are among over two dozen companies that will declare their quarterly numbers for the period ended June 2018 today. Read more
No-confidence motion today
The Narendra Modi-led NDA Government will face the first no-confidence motion in its 4-year rule, the first to be taken up in 15 years. The last no-confidence motion was passed in 2003, when the Congress-led Opposition was defeated by the NDA Government in a trust vote. In today's motion, BJP will have 3 hours and 33 minutes to speak and Congress will have 38 minutes. The Telugu Desam party, the first one to initiate the debate on no-confidence motion, has been allocated 13 minutes. While the NDA Government (313 in the 535-member Lok Sabha) has enough numbers to sail through the no-trust motion, the Opposition parties intend to use this opportunity for pointing out the ruling government's flaws.
Just Dial board meet
Shares of Just Dial will remain in focus today, as its board of directors will consider the unaudited financial results for the quarter ended June 2018. The company shares were trading down by 1.52 per cent at Rs 583 on the BSE. Read more
What to watch
Technicians of Hathway Cable and Datacom Private Limited replacing the existing wire with optic fibres on Spur Tank Road at Egmore in Chennai June 26, 2003, after their service was disrupted in most part of Chennai from June 25, 2003, allegedly by saboteurs
Photo: Vino John.
Hathway Cable & Datacom board is meeting today to consider fund-raising proposals through preferential issue of equity shares or any other permitted instruments. Read more
Electrotherm India has entered into a settlement with International Finance Corporation for its outstanding secured loan of external commercial borrowings and unsecured loan foreign currency convertible bonds. Read more
Artson Engineering has received a letter of intent for about ₹28.94 crore from Tata Projects. Read more
Rupee plunges to record low
The rupee hit a record low of 69.13 per dollar in early trade, tracking weakness in the yuan, with traders monitoring the domestic stock market for further direction.
Broker's call
Bonanza
M&M (Buy)
CMP: ₹910.65
Target: ₹1,172
9.15 am
Opening bell
The 30-share BSE index Sensex opened lower by 6.18 points at 36,345.05 against the previous close of 36,351.23 and the 50-share NSE index down 2.2 points at 10,957.10 against Thursday's close of 10,954.90.
Investors remained cautious as the debate and voting on no-confidence motion moved by TDP and other Opposition parties against the Narendra Modi Government will take place in Parliament today.
9.10 am
Today's stock pick
Delta Corp (₹204.4): Sell
The stock of Delta Corp was on a sideways movement in the band between ₹210 and ₹250 since mid-May 2018. On Thursday, the stock fell almost 3.9 per cent with good volume, breaking below the key support level of ₹210. This fall gives traders with a short-term perspective an opportunity to sell the stock at current levels. Read more
9.05 am
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:
₹2185 • HDFC Bank
₹1316 • Infosys
₹272 • ITC
₹161 • ONGC
₹1103 • Reliance Ind.
₹260 • SBI
₹1981 • TCS
10973 • Nifty 50 Futures
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.
Click here to view the full guide
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