Markets Live: Sensex ends at five-month closing high of 35,935; Nifty closes at 10,853

Vedanta, Asian Paints steal the show

4.05 pm

The Sensex ended at a five-month closing high and the Nifty posted a near 4-week closing high on heavy buying in capital goods, power, infrastructure and metal stocks amid firm global cues.

 

 

Sustained DII buying and strengthening of rupee to 68.57 against the dollar propped up the domestic sentiment.

The BSE index ended higher by 276.86 points or 0.78 per cent at 35,934.72 and the NSE index closed up 80.25 points or 0.74 per cent at 10,852.90.

Top five Sensex gainers were Vedanta, Asian Paints, YES Bank, Sun Pharma and Reliance, while the major losers were TCS, HDFC, Bharti Airtel, IndusInd Bank and Coal India.

Brokers said that investors were looking forward to the quarterly results of IT majors TCS and Infosys that will kick-start the earnings season later this week.

As per provisional data, DIIs had bought shares worth Rs 1,480.82 crore, while foreign portfolio investors sold equities to the tune of Rs 968.18 crore on Friday.

Global shares hit a two-week high as favourable US jobs data whetted risk appetites, while sterling brushed off the resignation of two ministers over Britain's departure from the European Union as traders focused on the likelihood of a “soft Brexit”.

The MSCI world equity index, which tracks shares in 47 countries, rose 0.4 per cent, while the pan-European STOXX 600 index was up 0.6 per cent, led by a strong rise across mining stocks.

 

3.55 pm

World stocks hit 2-week high

 

Global shares hit a two-week high as favourable US jobs data whetted risk appetites, while sterling brushed off the resignation of two ministers over Britain's departure from the European Union as traders focused on the likelihood of a “soft Brexit”. Read more

 

3.45 pm

Gold hits 2-week high

 

Gold extended its recovery, touching the strongest in nearly two weeks as the dollar weakened, the Chinese yuan rebounded and some investors reversed their bearish gold bets. Spot gold was up 0.7 per cent at $1,262.86 an ounce by 0945 GMT, its highest since June 26.Read more

3.35 pm

Forex market

 

The Chinese yuan rebounded and the euro rose to its highest since June 14 as investors bought into riskier assets following favourable US jobs data last week and evidence that trade tensions have not yet dented economic momentum. Read more

 

3.20 pm

BSE postpones launch of new platform

 

BSE has postponed the launch of its new platform for listing startups. The platform, scheduled for launch today, was aimed at facilitating the listing of companies in sectors such as IT, ITES, bio-technology and life sciences, 3D printing, space technology and e-commerce.  Click here to read more

3.10 pm

Brent crude rises to $77.51

 

Oil prices steadied as an increase in US drilling, likely to lead to higher shale production, balanced evidence of tightening supply. Benchmark Brent was up 40 cents at $77.51 a barrel by 0850 GMT. US crude was down 30 cents at $73.50. Click here to read more

2.55 pm

MCX-Aluminium hovers above a crucial support

 

Aluminium futures contract on the Multi Commodity Exchange fell during last week breaking below the key support level of Rs 147 per kg. The contract tumbled about 3 per cent intra-week and made a low of Rs 143. The contract has however managed to bounce from this low and is currently trading at Rs 144.5 per kg. Click here to read more

2.40 pm

Gold bounces from key long-term support

 

The price action in the coming weeks will be crucial and will need a close watch. If gold manages to sustain above $1,238, it could mark the end of the downtrend that has been in place since April. A strong rise past the $1,270-1,275 resistance zone will confirm the trend reversal. Click here to read more

2.25 pm

Equity MF inflows

File Photo   -  The Hindu

 

Equity mutual funds saw inflow of nearly Rs 33,000 crore in the first quarter of the current fiscal, a surge of 15 per cent year-on-year, underpinned by strong participation from retail investors, especially in small towns. Read more

2.10 pm

Benchmark indices were trading higher by nearly one per cent on heavy buying in capital goods, healthcare, power and infrastructure stocks amid firm global cues.

 

 

The Sensex was up 298.17 points or 0.84 per cent at 35,947.87 and the Nifty up 85.95 points or 0.8 per cent at 10,858.60.

Top five Sensex gainers were YES Bank, Asian Paints, Axis Bank, Vedanta and Sun Pharma, while the major losers were TCS, HDFC, IndusInd Bank, Bajaj Auto and Hero MotoCorp.

 

“Confluence of global stability, a sense that the rupee has bottomed and current valuations (of stocks) are holding the market up,” Harendra Kumar, Managing Director at Elara securities said.

For the last few weeks the US-China trade tiff kept markets in check. However, investors are now shifting their focus to corporate earnings starting with India's biggest software services exporter Tata Consultancy services reporting quarterly results on Tuesday.

 

1.50 pm

ICICI Securities IPO order

 

ICICI Prudential Mutual Fund may approach the Securities and Exchange Board of India to seek clarity on the rules under which the market regulator has advised it to return money invested on the last day of the initial public offer of ICICI Securities. Click here to read more

1.35 pm

Weekly trading guide

SBI (257.45)

 

Near-term outlook is unclear for SBI

SBI was stuck in a narrow range between ₹254 and ₹262 last week. The near-term outlook is unclear. Support is at ₹253 and resistance at ₹262. A break-out on either direction of ₹253 or ₹262 will determine the future trend.

ITC (₹272.3)

Downside pressure eases for ITC

After being range-bound between ₹259 and ₹267 for two weeks, ITC broke the range above ₹272 last week. The stock surged 2.3 per cent last week and closed on a strong note. The price action on the weekly chart indicates that the stock lacks strong sellers to drag it below ₹260 decisively.

Infosys (₹1,284.5)

Infosys can dip before moving up

Infosys was volatile last week. The stock surged, breaking above the resistance at ₹1,320, and made a high of ₹1,358. However, it failed to sustain higher and tumbled over 6 per cent from the high to make a low of ₹1,269, before closing the week at ₹1,284. The psychological level of ₹1,300 is a key resistance to watch.

RIL (₹976.5)

Resistances cap the upside in RIL

RIL was volatile last week. It surged to make a high of ₹1,008.5, but failed to sustain above the psychological level of ₹1,000. The stock fell sharply from the week’s high, giving back almost all the gains and closed on a flat note for the week.

Tata Steel (₹554.1)

Tata Steel in danger of fresh fall

Tata Steel began the week on a positive note and surged to a high of ₹586.5. However, the positive momentum was short-lived and stock reversed sharply lower from the high of ₹586.5. It tumbled over 6 per cent from its high to make a low of ₹547.

Click here to read the full guide

1.20 pm

Nifty 50 June Futures (10,848)

 

Traders can go long. Stop-loss can be placed at 10,825 for the target of 10,890. Revise the stop-loss higher to 10,860 as soon as the contract moves up to 10,870. Click here to read more

1.10 pm

NCLT ruling effect on Tata stocks

 

Shares of various Tata group companies witnessed a mixed trend after the National Company Law Tribunal dismissed the pleas of Cyrus Mistry against Tata Sons for removing him as Chairman. Read more

12.55 pm

I-T Dept sells 40% of Cairn stake in Vedanta

 

The Income-Tax department has sold roughly 40 per cent of Cairn Energy plc’s shareholding in Vedanta to recover a part of the Rs 10,247-crore retrospective tax it had raised against the British firm. Read more

12.40 pm

Edelweiss' Small-Cap Fund

 

Edelweiss Mutual Fund has filed a draft paper with SEBI for a Small-Cap Fund. The investment objective of the scheme is to generate long-term capital appreciation from a portfolio that predominantly invests in equity and equity-related securities of small-cap companies. Click here to read more

12.25 pm

Motilal Oswal-100 ETF

 

One mutual fund that ought to be in the portfolio of any investor who is seeking diversification from the Indian markets is MOSt Shares Nasdaq-100 ETF. Launched in 2011, the fund, which tracks the Nasdaq-100 Index, has given an impressive return. Click here to read more

12.10 pm

FPIs infuse over Rs 3,000 cr

 

Foreign investors have pumped in over Rs 3,000 crore into the Indian capital markets in the last five trading sessions after pulling out over Rs 61,000 cr during April-June. Prior to that, they had poured in Rs 2,662 crore in March. Click here to read more

11.55 am

NCLT dismisses Mistry's plea

 

The National Company Law Tribunal today dismissed a petition by the former Tata Sons Chairman, Cyrus Mistry, who had alleged oppression of minority shareholders and mismanagement by Tata Sons, drawing the curtains on an 18-months long feud. Click here to read more

11.45 am

Domestic indices continued their uptrend in the pre-noon trade on heavy buying in metal, healthcare, power and auto stocks amid firm global cues.

 

 

Sustained DII buying and strengthening of rupee against the dollar propped up the domestic sentiment.

The Sensex was up 211.48 points or 0.59 per cent at 35,869.34 and the Nifty up 59.55 points or 0.55 per cent at 10,832.20.

Top five Sensex gainers were Vedanta, Axis Bank, Sun Pharma, YES Bank and Tata Motors, while the major losers were TCS, Coal India, HDFC, Hero MotoCorp and Bharti Airtel.

“Confluence of global stability, a sense that the rupee has bottomed and current valuations (of stocks) are holding the market up,” Harendra Kumar, Managing Director at Elara securities said.

For the last few weeks the US-China trade tiff kept markets in check. However, investors are now shifting their focus to corporate earnings starting with India's biggest software services exporter Tata Consultancy services reporting quarterly results on Tuesday.

11.30 am

Fortis shares jump 4.6%

 

Shares of Fortis Healthcare jumped as a media report said IHH Healthcare Bhd is likely to acquire control of the former with a binding offer to buy at least 51 per cent in the troubled Indian hospital operator for Rs 4,700-5,400 crore. Read more

11.20 am

 

11.10 am

Tata Steel jumps over 2%

 

Shares of Tata Steel Ltd rose as much as 2.2 per cent to Rs 565.7, in their biggest intraday percentage gain since July 2 on strong quarterly sales. June quarter sales was up by eight per cent at 2.97 million tonnes against 2.75 mt logged in the same period last year. Click here to read more

11 am

Sterlite hits 1-month high

bl12_ndanm_equi+GL91NO1T9.3.jpg.jpg

 

Shares of optical fibre cable maker Sterlite Technologies Ltd climbed as much as 6.58 per cent to Rs 308.6, highest since June 13, as the company’s unit has agreed to buy Italy's Metallurgica Bresciana for about €47 million. Read more

10.50 am

Dereliction of duty

 

In Shakespeare’s Merchant of Venice, Bassanio tells his friend Antonio that if, in his school days, he lost an arrow, he would shoot another on the same path, and sometimes find both. The Centre seems to have been practising this philosophy with PSU banks and airlines, sending more arrows (money) in pursuit of lost money by the banks and airlines, hoping, like Bassanio, to recover it. Click here to read more

10.35 am

Shares in demat form

 

The government is working on a time-bound action plan for conversion of unlisted companies’ shares into dematerialised form. However, MSMEs are likely to be exempted from this ambit. Click here to read more

10.25 am

 

10.15 am

Benchmark indices were trading higher by nearly 0.5 per cent on sustained DII buying, strengthening of rupee against the dollar and firm Asian cues.  The Sensex was up 166.92 points or 0.47 per cent at 35,824.78 and the Nifty up 47.05 points or 0.44 per cent at 10,821.05.

 

Top five Sensex gainers were Axis Bank, Vedanta, YES Bank, Sun Pharma and Tata Motors, while the major losers were TCS, Coal India, HDFC, HDFC Bank and L&T.

 

All BSE sectoral indices were trading in the positive zone.

 

 

Investors were looking forward to the quarterly results of IT majors TCS and Infosys that will kick-start the earnings season later this week.

As per provisional data, DIIs had bought shares worth Rs 1,480.82 crore, while foreign portfolio investors sold equities to the tune of Rs 968.18 crore on Friday..

10 am

 

9.55 am

IRFC, IRCON pubic issues

 

IRFC and IRCON are likely to come out with their initial public offerings in the next two months, which could together fetch about Rs 1,500 crore to the exchequer. IRCON has already approached SEBI with its IPO papers, while IRFC would soon file the draft prospectus. Click here to read more

9.45 am

 

9.35 am

Market valuation of Sensex cos

 

Eight out of the 10 most valued companies added Rs 66,625.6 crore to their market valuation last week, with TCS emerging as the star performer. The market valuation of TCS soared by Rs 25,306.88 crore to Rs 7,32,521.29 crore. Click here to read more

9.25 am

Market outlook

 

In the coming week, performance in June 2018 quarter, macroeconomic data, progress of monsoon and global events will dictate the trend. IndusInd Bank and TCS will declare their June 2018 quarter results on July 10th, while Infosys will announce its results on July 13th. Click here to read more

9.15 am

The 30-share BSE index Sensex surged 265.62 points to 35,923.48 against the previous close of 35,657.86 and the 50-share NSE index climbed 65.65 points to 10,838.30 against 10,772.65.

9.05 am

Index Outlook

 

Movement of the global markets and the after-effects of the trade war can provide direction to the Asian and domestic markets. The first quarter results announcement will start this week, which could keep the markets choppy. Also, macro-data such as consumer price inflation, IIP data and trade balance data releases need a close watch. Click here to read more

Published on July 09, 2018