Markets Live: Sensex ends higher by 147 points; Nifty closes at 11,589

Closing bell

The Sensex closed higher by 147.01 points or 0.38 per cent at 38,389.82 and the Nifty up 52.2 points or 0.45 per cent at 11,589.10 on heavy buying in auto and metal stocks amid weak global cues. Power, banking and infrastructure indices ended in the negative zone.

Top five Sensex gainers were Hero MotoCorp, Bajaj Auto, Bharti Airtel, M&M and Tata Steel, while the major losers were YES Bank, Sun Pharma, PowerGrid, Adani Ports and ONGC.

World shares limped toward their worst week in almost six months, with Asia carving out a 14-month trough as investors braced for a new salvo of Sino-US tariffs. A flat pan-European STOXX 600 was set to end the week with a 2.3 per cent loss, its worst weekly performance since the end of March.

As per provisional data, foreign portfolio investors had sold shares worth Rs 455.00 crore on a net basis, while domestic institutional investors bought equities to the tune of Rs 611.98 crore yesterday.

Global markets

World shares limped toward their worst week in almost six months, with Asia carving out a 14-month trough as investors braced for a new salvo of Sino-US tariffs. A flat pan-European STOXX 600 was set to end the week with a 2.3 per cent loss. Read more

Fortis arm sells 15 lakh shares

Fortis Healthcare's step-down subsidiary, RHT Health Trust Manager, has sold 15 lakh shares in RHT Health Trust to Fortis Healthcare International for S$ 11,70,000. FHIL is a wholly-owned subsidiary of Fortis Healthcare. Read more

Bullion prices

Gold prices slipped by Rs 60 to Rs 31,450 per 10 gram at the bullion market due to muted demand from local jewellers and a weak global trend. Silver too traded lower by Rs 300 to Rs 37,500 per kg due to reduced offtake by industrial units and coin makers. Read more

Fits the bill for capital protection

Max Life Insurance recently launched Savings Advantage Plan, a traditional non-linked and participating life insurance plan. Though combo insurance-investment plans have never been in the limelight because of poor returns, they have been gaining traction in recent times for the ‘guaranteed’ returns they offer, given the fact that bank FDs have lost some sheen. Click here to read more

AUMs of mutual funds cross Rs 25 lakh crore

The assets under management of mutual fund industry have crossed the Rs 25 lakh crore mark for the first time to touch Rs 25.20 lakh crore in August against Rs 23.05 lakh crore logged in July, registering a growth of nine per cent, on the back of strong inflow into liquid schemes. Read more

Pre-close trade

The Sensex was trading higher by 89.97 points or 0.24 per cent at 38,332.78 and the Nifty up 35.03 points or 0.3 per cent at 11,571.90. Short-covering by investors and firm European cues lifted the domestic sentiment.

Top five Sensex gainers were Bajaj Auto, Hero MotoCorp, Bharti Airtel, M&M and Tata Steel, while the major losers were YES Bank, Sun Pharma, PowerGrid, State Bank of India and Adani Ports.

Except banking, all other BSE sectoral indices were trading in the positive zone. Among them, auto and metal gained the most followed by oil & gas and healthcare.

As per provisional data, foreign portfolio investors had sold shares worth Rs 455.00 crore on a net basis, while domestic institutional investors bought equities to the tune of Rs 611.98 crore yesterday.

Nifty 50 September Futures (11,596)

An emphatic breakthrough of the resistance at 11,600 will strengthen the up-move and take the contract northwards to 11,625 and 11,650 levels. Any corrective decline can find support at 11,575 and 11,550 levels.   Read more

Forex market

The Australian dollar fell to its weakest level in more than 2-1/2 years as fears over an escalation in the trade conflict between the United States and China dominated concerns, while safe haven currencies such as the franc and yen gained. The US currency held in relatively tight ranges against other major peers such as the euro and pound. Read more

Oil prices hold steady

Crude oil prices were stable, as the market balanced a fall in US crude inventories to the lowest levels since 2015, with Sino-American trade tensions and economic weakness from emerging markets. WTI crude futures were at $67.79 per barrel at 0303 GMT, up just 2 cents from their last settlement. Brent crude futures dipped 4 cents to $76.46 a barrel. Read more

European markets

European shares were slightly higher in early trading as uncertainty over global trade rippled through markets and investors sought refuge in defensive sectors. The pan-European STOXX 600 was up 0.1 per cent by 0724 GMT, while the exporter-heavy German DAX gained 0.2 per cent and Britain's' FTSE 100 was flat in percentage terms. Read more

China stocks end higher

Stocks in China ended higher, but the Shanghai Composite index and blue-chip shares closed lower for the week, as a deadline for public comments on fresh US trade tariffs expired. At the close, the Shanghai Composite index was up 10.71 points or 0.4 per cent at 2,691.59. Read more

Reliance Naval slumps 5%

Anil Ambani

Shares of Anil Ambani-led Reliance Naval and Engineering Ltd plunged 5 per cent as IDBI Bank Ltd has moved the National Company Law Tribunal against the company seeking debt resolution under the Insolvency and Bankruptcy Code. Read more

The Sensex was trading higher by 108.81 points or 0.28 per cent at 38,351.62 and the Nifty up 39.1 points or 0.34 per cent at 11,576 on heavy buying in metal, auto, healthcare and realty stocks amid weak global cues.

Top five Sensex gainers were Hero MotoCorp, Bajaj Auto, Bharti Airtel, Tata Motors and M&M, while the major losers were YES Bank, Sun Pharma, PowerGrid, Adani Ports and State Bank of India.

Except banking, all other BSE sectoral indices were trading in the positive zone. Among them, metal, auto, healthcare and realty gained the most between 0.8 and 1.8 per cent.

'Bids put in by NuMetal, Vedanta for Essar Steel valid'

The National Company Law Appellate Tribunal has ruled that second round bids put in by Russia’s VTB Bank-based NuMetal and Vedanta for the acquisition of Essar Steel are valid but the same of ArcelorMittal is contingent upon the company clearing Rs 7,000 crore dues of Uttam Galva and KSS within three days. Read more

Sensex gainers, losers

Bajaj Auto Ltd led the gains after the Union Government said it would exempt all alternate fuel vehicles from getting permits. The company has announced plans to raise its 3-wheeler and quadricycle production capacity shortly after the government's decision.

Click here to read more

ICICI Bank Ltd advanced 1.6 per cent, while Reliance Industries Ltd gained 1.3 per cent.

Shares of Infosys Ltd rose 1.1 per cent after the software services exporter said it formed a joint venture with Singapore state investor Temasek to expand its presence in Southeast Asia.

Click here to read more

Meanwhile, Sun Pharmaceutical Industries Ltd was the biggest drag on the NSE index with a slump of 5.5 per cent after a report that the US Food and Drug Administration issued observations related to test procedures at the company's Halol plant following inspections during August 27-31.

YES Bank Ltd dropped 4.1 per cent to its lowest since April 2018, while State Bank of India fell 2.1 per cent

Domestic shares were trading marginally higher, supported by gains in energy and auto stocks, but were headed for their biggest weekly drop since mid-May as a depreciating rupee soured investor sentiment.

The Sensex was up 25.18 points or 0.07 per cent at 38,267.99 and the Nifty up 18.45 points or 0.16 per cent at 11,555.35.

Both the BSE and NSE indexes were down about 1 per cent this week after six straight weeks of gains, hurt by a weak rupee and persistent global trade war jitters.

“After a stellar August, there has been a change in sentiment - investors have become defensive, and the first week of September is reflective of that turn in sentiment,” said Anand James, chief market strategist at Geojit Financial Services.

“The rise in oil prices and a weakening rupee have become more prominent in September.”

The rupee had declined 1.4 per cent this week as of last close and 12.7 per cent this year, having hit its lowest at 72.11 per dollar on Thursday.

It was trading about 0.2 per cent higher as of 0610 GMT on Friday after the central bank likely sold dollars via state-run banks at around 72 rupee to the dollar level to prevent the currency from declining sharply, two dealers said. - Reuters

MCX gold, silver

Gold prices softened by 0.14 per cent to Rs 30,505 per 10 gram at the futures trade. Silver prices tumbled Rs 159 to Rs 37,778 per kg. Read more

Near-term outlook positive for gold

The global spot gold ($1,203.6 per ounce) has a cluster of supports between $1,200 and $1,190. As long as it sustains above this support zone, there is a strong likelihood of seeing a relief rally to $1,225 or $1,230 in the near term. Click here to read more

Buy gold if it touches $1,195/oz

In the coming sessions, crucial support will come into play around $1,190-95 and we expect prices to stabilise and move higher towards $1,225, or even higher to $1,235. Only a fall below $1,180 could force us to abandon our mildly bullish view. Read more

Spot gold exchange

Once an exchange is established, the buyers and sellers of gold can transact on the exchange platform. Besides the actual users, the exchange will also attract traders and other institutional participants such as banks and funds, thus ensuring a higher level of liquidity. The main benefit from this exchange will be more efficient, fair and transparent price discovery. Click here to read more

India's GDP springs forward

India’s Gross Domestic Product grew 8.2 per cent on-year in the first quarter of fiscal 2019 (April-June 2018), compared with 5.6 per cent in the same period last year. This was driven by 13.5 per cent surge in manufacturing growth, 8.7 per cent growth in construction and over 5 per cent growth in agriculture. Click here to read more

Bajaj Auto hits 7-week high

Shares of Bajaj Auto today hit 7-week high as the company plans to expand its three-wheeler capacity. The stock jumped as much as 3.3 per cent to Rs 2,874, its highest in seven weeks. Read more

Sun Pharma slumps 5.5%

Shares of Sun Pharmaceutical Industries Ltd fell as much as 5.5 per cent to Rs 640, marking their biggest daily percentage loss since May 11. The stock was the top drag on the NSE index and Nifty Pharma index. Read more

Domestic shares wiped off their losses and were trading marginally higher, led by consumer durables, auto, FMCG and metal stocks, despite weak global cues.

The Sensex was up 68.97 points or 0.18 per cent at 38,311.78 and the Nifty up 24.55 points or 0.21 per cent at 11,561.45.

Top five Sensex gainers were Bajaj Auto, Tata Motors, Hero MotoCorp, Wipro and HUL, while the major losers were Sun Pharma, YES Bank, PowerGrid, State Bank of India and HDFC.

Asian shares carved out a 14-month trough as investors feared a new salvo of Sino-US tariffs could come at any moment, while a slump in US chip stocks rippled through the tech-heavy region.

Rupee trading strong at 71.71

istock.com/Jayprrasad Naik Jayprrasad Naik

The rupee opened strong at 71.95 at the interbank forex market on fresh dollar selling by banks and exporters. Moreover, the dollar's weakness against other currencies overseas supported the rupee. The domestic unit hovered in a range of 72.08 and 71.69 in the morning trade before quoting at 71.71, up 26 paise at 10.50 am local time. Read more

Forex market

The dollar slipped against the yen after a report suggested that Japan would be the next country with which US President Donald Trump will take up trade issues. The dollar extended overnight losses and last traded at 110.44 yen for a loss of 0.3 per cent. Read more

Domestic shares wiped off their early losses but were still trading marginally lower due to weak global cues. Asian shares carved out a 14-month trough as investors feared a new salvo of Sino-US tariffs could come at any moment, while a slump in US chip stocks rippled through the tech-heavy region.

The Sensex was down 9.21 points or 0.02 per cent at 38,233.60 and the Nifty down 1.5 points or 0.01 per cent at 11,535.40.

Top five Sensex gainers were Bajaj Auto, Tata Motors, Hero MotoCorp, Wipro and M&M, while the major losers were Sun Pharma, YES Bank, PowerGrid, State Bank of India, and HDFC.

Among BSE sectoral indices, banking, power, infrastructure and PSU succumbed to selling pressure, while auto, consumer durables, metal and FMCG remained investors' favourite.

Bank Nifty

On the put option chain, the In-The-Money Bank Nifty Put 27,500 option contract was the one that traded stronger on Thursday. The put option price was down 5.85 per cent and ended at Rs 180.95.  Click here to read more

L&T Technology Services has signed an agreement to acquire Bengaluru-based Graphene Semiconductor Services in an all-cash deal. The transaction is expected to be completed by October. The company shares were up 0.29 per cent at Rs 1,745.10 on the NSE. Read more

Websol Energy Systems has entered into a production agreement with Exide Industries. Accordingly, Websol will manufacture and supply 10-MW of Photo Voltaic Modules per month comprising 40 MW, to EIL, under the Exide brand at its factory at Falta SEZ. The company shares were trading up 0.23 per cent at Rs 42.90 on the BSE. Read more

Sayaji Industries has completed the sale of 12 lakh equity shares, representing 40 per cent stake, in Sayaji Sethness for an aggregate consideration of $3.2 million. The company shares were trading up 1.92 per cent at Rs 600 on the BSE. Read more

FIEO signs pact with NSE

The Federation of Indian Export Organisations has signed an MoU with the NSE to assist FIEO members raise equity capital on NSE’s EMERGE platform. The NSE will jointly conduct awareness and educative programmes for members of FIEO and other relevant stakeholders through various roadshows and webinars. Read more

Asian markets

Banks and consumer stocks helped Europe's main bourses 0.2-0.4 percent higher as the region built on a positive session for Asia's heavyweight Nikkei, Hang Seng and Chinese markets.

Asian shares carved out a 14-month trough as investors feared a new salvo of Sino-US tariffs could come at any moment, while a slump in US chip stocks rippled through the tech-heavy region. MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.4 per cent. Click here to read more

Opening bell

The 30-share BSE index Sensex dropped 158.71 points to 38,084.1 points against the previous close of 38,242.81 and the 50-share NSE index Nifty fell 46.7 points to 11,490.20 against 11,536.90.

Today's stock pick

Power Finance Corporation (₹87): Buy

Investors with a short-term perspective can buy the stock of Power Finance Corporation at current levels. Overall, the short-term outlook is bullish for the stock. 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:

₹2056 • HDFC Bank

₹727 • Infosys

₹310 • ITC

₹174 • ONGC

₹1260 • Reliance Ind.

₹296 • SBI

₹2075 • TCS

11567 • Nifty 50 Futures

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

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