Closing bell
The Sensex plunged 332.55 points or 0.86 per cent to 38,312.52 and the Nifty dropped 98.15 points or 0.84 per cent to 11,582.35. Weakening of rupee and negative global cues dampened investor sentiment. Intraday, the BSE index surged 289.28 points to 38,934.35 and the NSE index jumped 71.3 points to 11,751.80.
Top five Sensex gainers were Wipro, Bajaj Auto, HDFC Bank, Sun Pharma and Coal India, while the major losers were HUL, PowerGrid, Axis Bank, ICICI Bank and ITC.
Except consumer durables and metals, all other BSE sectoral indices ended in the negative zone.
Global markets
European shares mostly opened lower, while in Asia, MSCI's broadest index of shares outside Japan and Tokyo's blue-chip Nikkei shed about 0.7 per cent each. A holiday in the United States subdued trading activity. Still, MSCI's All-Country World Index,, a gauge of 47 markets, fell 0.2 per cent and the main emerging equity index fell 0.5 per cent, bearing the brunt of global trade fears. Read more
Gold drops to Rs 31,250
Gold prices drifted lower by Rs 100 to Rs 31,250 per 10 gram at the bullion market due to a weak global trend and easing demand from local jewellers. Silver slumped below the Rs 38,000-mark by plunging Rs 650 to Rs 37,700 per kg. Click here to read more
Near-term outlook positive for gold
Gold prices remained subdued last week. Global spot gold prices began the week on a positive note and made a high of $1,214 per ounce. However, it failed to sustain higher and fell back to a low of $1,196, before closing the week at $1,203.6 per ounce. The price action last week indicates that gold is lacking fresh buyers to take it decisively higher. Click here to read more
L&T Infotech slumps over 3%
Shares of Larsen & Toubro Infotech defied the broader market trend and slumped more than 3 per cent as its promoter L&T has planned to offload stake in the company. L&T has planned to sell up to 59 lakh equity shares representing 3.41 per cent of the total paid-up equity share capital of Larsen & Toubro Infotech, with an over subscription of 46.28 lakh equity shares representing 2.67 per cent. Read more
RInfra wins Rs 200-cr arbitration case
Reliance Infrastructure has won a Rs 200-crore arbitration award against the National Highways Authority of India. Reliance Infrastructure has also been awarded compensation at the rate of 13.5 per cent of the actual revenue for the loss of revenue suffered due to change in location of toll plaza. Read more
MCX-Aluminium
Aluminum futures contract on the Multi Commodity Exchange witnessed a strong rally as expected in the past week. The contract surged about 5 per cent intra-week and made a high of Rs 152.35 per kg on Thursday. The contract has however come-off from its high and is currently trading at Rs 149 per kg. Click here to read more
FPI inflows
Foreign investors have infused Rs 5,189 crore into the country’s capital market in August -- the second consecutive month of inflow -- on improvements on the macro front, better corporate earnings and correction in the mid and small-cap space. Click here to read more
Domestic shares fell from their intraday highs as manufacturing PMI fell to 51.7 against 52.3 in July. Weak global cues due to rising US-China trade tensions dampened the domestic sentiment.
The Sensex was trading down 63.13 points or 0.16 per cent at 38,581.94 and the Nifty down 23.5 points or 0.2 pe cent at 11,657.
Top five Sensex gainers were Wipro, Sun Pharma, Adani Ports, Tata Steel and Bajaj Auto, while the major losers were HUL, PowerGrid, Axis Bank, Kotak Bank and Maruti.
Spot gold falls to $1,198.43
Gold fell as the dollar remained firm on worries over intensifying Sino-US trade tensions, especially after an impasse in trade talks between the United States and Canada. Spot gold was down 0.2 per cent to $1,198.43 an ounce at 0708 GMT, after hitting an intra-day low of $1,195.36. Read more
Infosys hits record high
Shares of software services exporter Infosys rose as much as 1.86 per cent to a record high of Rs 1,467.90. The stock broke above a resistance at Rs 1,436.6, the 76.4 per cent Fibonacci projection level of the uptrend from October 5, 2012 low to June 3, 2016 high. Read more
M-cap of top-10 Sensex cos
Seven of the top 10 most-valued Indian companies together added Rs 76,227 crore in market valuation last week, with HDFC Bank emerging as the biggest gainer. The valuation of HDFC Bank jumped Rs 20,685.2 crore to Rs 5,59,888.20 crore. Click here to read more
A guide to weathering volatility
First and foremost, it is imperative for an investor to get his/her asset-allocation strategy right. Market volatility has increased after several years of calm. Living with market volatility is a lot easier when you have the right asset allocation in place. Click here to read more
Can you do better than mutual funds?
Does do-it-yourself (DIY) investing work better than going to mutual funds? That’s a question many investors are asking of late. Many seasoned individual investors in the Indian market claim to have soundly beaten popular equity funds. Their claims are not difficult to believe if you look at the stellar show from some stocks. Click here to read more
Sensex gainers, losers
Top 5 Nifty gainers, losers
Domestic shares turned flat as Asian stocks dropped for the third consecutive session due to worries over further escalation of the US-China trade war and unstable emerging market currencies.
The Sensex was trading up 45.69 points or 0.12 per cent at 38,690.76 and the Nifty up 17 points or 0.15 per cent at 11,697.50. Intraday, the BSE index jumped 289.28 points to 38,934.35 and the NSE index climbed 71.3 points to 11,751.80 on robust GDP data.
Annual economic growth surged to a more than two-year high of 8.2 per cent in the June quarter. Manufacturing and consumer spending drove the expansion, raising hopes that the rural economy was starting to turn around.
Though the GDP data is not “very positive” given that the base was low last year, it is contributing to the gains, said Vinod Nair, head of research at Geojit Financial Services.
Nifty 50 September Futures (11,760)
Short-term traders can go long with a stop-loss at 11,740 for a target of 11,800. Revise the stop-loss higher to 11,770 as soon as the market moves up to 11,785. The near-term view will turn negative if the index futures decline below 11,740. Click here to read more
LIC board meet tomorrow
LIC board will meet on Tuesday to decide on the modalities for increasing stake in debt-ridden IDBI Bank to 51 per cent, a move that will provide the insurance behemoth entry into the banking space. Read more
MCX gold, silver
Gold prices softened 0.11 per cent to Rs 30,095 per 10 grams at the futures trade as speculators trimmed their positions owing to a weak trend overseas. Silver prices drifted lower by 0.38 per cent to Rs 36,561 per kg. Read more
Petrol, diesel prices hit new high
Petrol and diesel prices touched their highest levels mainly due to the dramatic fall of the rupee and a sharp rise in crude oil rates. Petrol prices in Delhi rose to a record Rs 79.15 a litre and diesel climbed to a fresh high of Rs 71.15. Click here to read more
The Sensex was trading up by 72.88 points or 0.19 per cent at 38,717.95 and the Nifty up 25.5 points or 0.22 per cent at 11,706 on robust GDP data and strengthening of rupee against the dollar. However, weak manufacturing PMI capped the gains.
Intraday, the BSE index jumped 289.28 points to 38,934.35 and the NSE index climbed 71.3 points to 11,751.80.
Top five Sensex gainers were Wipro, Sun Pharma, Adani Ports, Tata Steel and Reliance, while the major losers were HUL, Maruti, Axis Bank, Kotak Bank and NTPC.
Among BSE sectoral indices, healthcare, consumer durables, metals and infrastructure remained investors' favourite, while realty, banking and FMCG succumbed to selling pressure.
Down-and-out mid-cap stocks may be ripe for the picking
Even as the blue-chip benchmarks Sensex and Nifty – up nearly 20 per cent in the last one year – flirt with new highs, mid- and small-cap indices have had a rather more sedate run, and are up by less than 10 per cent. In fact, individual stocks in the mid-cap space have fared far worse, and are down in some cases up to 80 per cent over the same period. Click here to read more
Reap rich dividends from 5 stocks
In the mineral and metals space, MOIL is one of the stocks with consistent dividend yield, ranging between 2 and 4 per cent over the past few years. Healthy operating profit margin and debt-free position are other positives.
The Hero MotoCorp stock has been on a losing streak for most part of last year, touching its one-year low of ₹3,037.10 in end-July 2018. But for investors who lost out on capital gains, the stock has been a good bet from a dividend perspective.
Mahanagar Gas: Well-fuelled
Mahanagar Gas ticks all the check-boxes to qualify as a good dividend yield stock pick. It has a track record of paying healthy dividends; the dividends being paid are sustainable; the company has the muscle to weather tough times; has good profit growth prospects; and the recent decline in the stock price is not due to company-specific factors.
PSU oil marketing cos
Being a shareholder in companies controlled by the government comes with its plusses and minuses. On the positive side, a steady stream of healthy dividends is almost a given. On the other hand, there is the real risk of government interference in the operations of these companies.
Oracle Financial Services
As an IT solutions company, driven by its products portfolio, Oracle Financial Services Software is a suitable option for investors with a moderate risk appetite and a two-year horizon. The mid-tier player’s stock has rallied just over 20 per cent in the last one year, when several companies in the IT sector doubled or even tripled in value.
Lupin hits over 7-month high
Lupin shares today hit more than 7-month high, and technicals suggest further upside. The drugmaker shares gained as much as 2.84 per cent to Rs 957.9, highest since January 25. Read more
Auto stocks climb on robust sales data
Ashok Leyland's total sales rose 27 per cent in August. Shares of Ashok Leyland rose as much as 4.6 per cent to Rs 135, their highest since July 13. Bajaj Auto's total sales rose 30 per cent in August; the shares jumped as much as 2.3 per cent to 2,807.7, highest in six weeks. Read more
Wipro posts over 5-year intraday gain
Shares of software services exporter, Wipro Ltd, jumped as much as 8.6 per cent to Rs 327 rupees, in their biggest intraday percentage gain since July 2013. The stock was the top percentage gainer on the NSE index and Nifty IT index. Read more
Greaves Cotton
The Greaves Cotton stock moved up by 7.8 per cent last Thursday, after the company announced the acquisition of a majority stake in Ampere Vehicles. Ampere is into the design, development and manufacture of electric cycles, bikes, three-wheelers and customised vehicles. However, the company shares were trading down 0.23 per cent at Rs 155.05 on the BSE. Read more
The Sensex surged 289.28 points to a new high of 38,934.35 and the Nifty climbed 71.3 points to a record peak of 11,751.80 on robust GDP data and strengthening of rupee from all-time low.
According to official data released after market hours on Friday, India’s economy grew at a two-year high of 8.2 per cent in the April-June quarter of 2018-19 due to strong performance of manufacturing and agriculture sectors, increasing its lead over China, to remain as the world’s fastest growing major economy.
The rupee strengthened to 70.73 against all-time low of 71 hit on Friday owing to robust April-June quarter GDP growth.
As per provisional data, domestic institutional investors had bought shares worth Rs 171.92 crore, while foreign portfolio investors sold shares worth Rs 212.81 crore on Friday.
Dollar edges up to 95.182
The dollar was steady due to worries over a prolonged China-US trade war and after the United States and Canada ended contentious trade negotiations without a deal. The dollar index against a basket of six currencies edged higher to 95.182 as of 0100 GMT on Monday, after rising during the past two sessions. Click here to read more
Brent crude falls to $77
Oil prices fell amid rising supply from OPEC and the United States, outweighing concerns that falling Iranian output will tighten markets once US sanctions bite from November. Brent crude oil futures were at $77.43 per barrel at 0222 GMT, down 21 cents, or 0.3 per cent, from their last close. Click here to read more
Rupee rebound to 70.77
The rupee strengthened by 23 paise to 70.77 against the US dollar in early trade at the interbank foreign exchange market today owing to robust growth data for the April-June quarter of the current fiscal. Read more
The S&P BSE Sensex was trading higher by 155.61 points or 0.4 per cent at 38,800.68 and the Nifty50 up 36.25 points or 0.3 per cent at 11,716.75 on robust GDP growth.
According to official data released after market hours on Friday, India’s economy grew at a two-year high of 8.2 per cent in the April-June quarter of 2018-19 due to strong performance of manufacturing and agriculture sectors, increasing its lead over China, to remain as the world’s fastest growing major economy.
Top five Sensex gainers were Wipro, Tata Motors, Sun Pharma, Adani Ports and Bajaj Auto, while the major losers were HUL, ICICI Bank, Maruti, Axis Bank and Kotak Bank.
Except realty and banking, all other BSE sectoral indices were in the positive zone. Among them, IT gained the most followed by consumer durables, healthcare and capital goods.
9.50 am
Asian markets
Asian stocks dipped due to worries over further escalation of the US-China trade war and unstable emerging market currencies. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent, while Japan's Nikkei fell 0.4 per cent though trade could be subdued due to a US market holiday on Monday. Read more
REC: Getting back its power
The long-term downtrend in the stock that commenced from the new high at ₹223.8 in May 2017, appears to have come to a halt this July. The stock found support at around ₹90 in July and reversed direction — triggered by positive divergence, daily relative strength index and price rate of change indicator. Click here to read more
Weekly trading guide
Bullish outlook is intact in SBI
SBI (₹308.8)
SBI inched higher in the initial part of the week and then remained range-bound for the rest of the week. The stock closed 2.8 per cent higher for the week. Though the daily candle chart gives a mixed outlook, the weekly chart is bullish.
Uptrend continues in ITC
ITC (₹319.1)
The uptrend in ITC remains intact and is gaining momentum. The stock surged 2.8 per cent last week and closed at a key resistance level of ₹319. A pull-back in the initial part of the week can take the stock lower to ₹315 or ₹312.
Infosys regains momentum
Infosys (₹1,440)
#Infosys surged over 4 per cent last week. The 21-day moving average is continuing to provide strong support. This support has been limiting the downside in the stock consistently since April. Immediate resistance is in the ₹1,447-1,450 region.
Near-term outlook is negative for RIL
RIL (₹1,240.9)
9.15 am
The 30-share BSE index Sensex opened higher by 114.04 points at 38,759.11 against the previous close of 38,645.07 and the 50-share NSE index Nifty up 19.65 points at 11,700.15 against 11,68.050.
RIL began the week on a positive note and surged about 4 per cent intra-week to record a high of ₹1,328. However, the stock lost momentum and reversed sharply lower, giving back all the gains made and closed 3 per cent lower for the week. The near-term outlook is negative.
Tata Steel likely to test a key resistance
Tata Steel (₹601.6)
Tata Steel surged 4.6 per cent last week, recovering all the loss made in the earlier week. With this up-move, the stock has regained its strength. Support is in the ₹593-₹590 region, which is likely to limit the downside in the near term. Click here to read more
9.05 am
Index Outlook
Optimistic GDP growth number (8.2 per cent) for the first quarter of 2018-19 reported on Friday can keep markets upbeat. However, indices need to rally beyond the previous week’s high to strengthen its momentum. On the global front, the on-going trade war could remain in focus and keep markets choppy. Click here to read more
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