Markets Live: Sensex ends at record high of 36,985; Nifty closes at 11,167

Bank shares gain as more state-run lenders sign pact for faster bad-loan resolution

4.05 pm

Closing bell

Domestic shares hit record closing highs on Thursday led by banks, with the benchmark BSE index breaching the 37,000-mark for the first time earlier, on the day of expiry of monthly derivatives contracts.

The broader NSE index ended higher by 35.3 points or 0.32 per cent at 11,167.3 after hitting a life-high of 11,185.85 earlier in the day.

 

The BSE index hit a record high for a third consecutive session before ending up by 126.41 points or 0.34 per cent at 36,984.64. The benchmark took only 13 trading sessions to jump from 36,000 to 37,000.

 

Bank shares gained as more state-run lenders lined up to enrol for a scheme for faster bad-loan resolution. State Bank of India closed more than 5 per cent higher.

 

4 pm

YES Bank results

YES Bank net profit jumped 30.5 per cent to Rs 1,260.36 crore for the quarter ended June 30, 2018, on account of higher income. The bank had reported a net profit of Rs 965.52 crore in the same quarter last fiscal. Read more

3.50 pm

Vodafone-Idea Cellular merger

 

The Union Government today gave its final approval for the mega merger of Vodafone and Idea Cellular which will create the country’s largest mobile operator with 35 per cent market share and around 430 million subscribers. Read more

3.40 pm

HUDCO, NBCC stake sale

 

The government is planning to sell up to 10 per cent stake each in real estate firms HUDCO and NBCC, as also 3 per cent in NTPC, through an offer for sale, which could fetch about Rs 5,900 crore to the exchequer. Read more

3.25 pm

Resistance may cap the upside in MCX-Lead

 

Lead futures contract on the Multi Commodity Exchange has been stuck in a narrow sideways range in the past week. The contract has been range-bound in the band between Rs 144 and Rs 149 over the last one week. Click here to read more

 

3.15 pm

China stocks end lower

 

China stocks ended lower as months of see-sawing US-Sino trade friction stoked uncertainties over the country's economic growth, prompting investors to take a cautious stance. The blue-chip CSI300 index ended down 1.2 per cent at 3,536.25 points, while the Shanghai Composite Index closed down 0.7 per cent at 2,882.23 points. Read more

3.05 pm

Inflation likely to average 4.7%

 

A good monsoon notwithstanding, inflation is expected to average 4.7 per cent in the current fiscal, up from 3.6 per cent last year, and the Reserve Bank of India is likely to tighten the key interest rate in the coming months. Read more

2.55 pm

Rupee climbs to 68.62

 

The rupee strengthened by 17 paise to 68.62, extending its rebound for a second straight day, against the US dollar on increased selling of the greenback by exporters and banks amid a strong domestic equity market. Click here to read more

2.45 pm

The Sensex and Nifty turned flat on heavy selling in capital goods, IT, TECK and auto stocks in view of July F&O expiry. However, PSU, banking, power and infrastructure stocks found investors' support.

 

 

The BSE index was trading up 5.18 points or 0.01 per cent at 36,868.14 and the NSE index down 4.4 points or 0.04 per cent at 11,127.60.

Top five Sensex gainers were SBI, ICICI Bank, PowerGrid, Axis Bank and Bharti Airtel, while the major losers were YES Bank, Maruti, L&T, Asian Paints and Kotak Bank.

 

2.35 pm

Draft GST return forms

 

The Finance Ministry will put up the draft of a new simplified return form on its website latest by Monday. Stakeholders will have one month’s time to give their comments on the draft return form. Click here to read more

2.25 pm

GST Council meet on August 4

 

Tax officers in states and union territories will reach out to trade and industry bodies, MSMEs, to understand their issues and grievances relating to GST and would place them before the Council on August 4. Click here to read more

2.15 pm

Maruti Suzuki net up 27%

 

Maruti Suzuki India has reported 26.91 per cent per cent increase in standalone net profit at Rs 1,975.3 crore for the first quarter ended June 30, 2018. The company had posted a net profit of Rs 1,556.4 crore in the April-June period quarter last fiscal. Read more

2 pm

The Sensex was trading higher by nearly 100 points on heavy buying in PSU, bank, power and infrastructure stocks amid firm global cues. 

 

Short-covering of bets, today being the last session of July expiry in the derivatives segment, and strengthening of rupee against the dollar, kept the overall market sentiment high.

Bank shares were boosted by more state-run lenders lining up to enrol for a scheme for faster bad-loan resolution. By Monday, more than 20 banks had signed up.

A government panel had suggested creating an asset management company (AMC) to resolve bad loans above Rs 500 crore ($73 million), among steps to clean up the banking sector.

At 1.55 pm local time, the Sensex was trading up 93.78 points or 0.25 per cent at 36,952.01 and the Nifty up 22.35 points or 0.2 per cent at 11,154.35. The index took only 13 sessions to jump from 36,000 to 37,000.

 

“We expect markets (NSE) to remain above 11,100 post F&O expiry today, the overall sentiment is positive” said Saurabh Jain, AVP, Research at SMC Global Securities.

“Another comforting factor is that crude price have slid from highs in the beginning of the month, easing concerns of inflation.”

The Nifty PSU Bank index surged 4.8 per cent in its sixth straight session of gains. Canara Bank Ltd was the top gainer on the index, rising 5.19 per cent after a surprise Q1 profit on Wednesday.

1.55 pm

CESC results

 

CESC Ltd has posted a two per cent rise in net profit at Rs 182 crore for the quarter ended June 30, 2018, compared with Rs 178 crore in the same period last year. Revenue from operations dropped marginally by over one per cent to Rs 2,159 crore. Read more

1.40 pm

Your Fund Portfolio

 

Mid-cap stocks had run up too sharply in the last two-three years. Hence, such stocks and consequently mid-cap funds are at risk of erosion in their Net Asset Values for the near term if the ongoing market correction continues. However, for the long term, HDFC Mid-cap Opportunities is a good fund to hold. Click here to read more

1.25 pm

Nifty 50 July futures (11,173)

 

The contract has marked an intra-day high at 11,181 levels. The near-term outlook for the contract is bullish. Traders with a near-term view can buy the contract on dips, with a stop-loss at 11,145 levels. Click here to read more

1.10 pm

Parag Parikh Long Term fund

 

Parag Parikh Long Term Value Fund recently completed five years, and sports an annualised return of 19.5 per cent over this period, placing it in the top quartiles among peers. Investors can buy the fund as part of their core portfolio. Click here to read more

1 pm

IRB Infra jumps over 5%

 

Shares of IRB Infrastructure Developers surged as much as 5.2 per cent to Rs 204 as the company reported a 5 per cent increase in net profit at Rs 250 crore for the quarter ended June 30, 2018 against Rs 238 crore in the corresponding quarter of the previous fiscal. Read more

12.45 pm

Indiabulls Housing hits 3-month high

FILE PHOTO   -  KSL

 

Shares of Indiabulls Housing Finance today hit a 3-month high, and chart suggests more upside. The stock gained as much as 2.9 per cent to Rs 1,345, highest since April 23. Read more

 

12.35 pm

Ambuja Cement jumps 7%

Copy-of-ACC,-Am+bl20ambuja-Pg2.jpg.jpg

 

Shares of Ambuja Cement jumped on better-than-expected Q2 results. The cement maker stock climbed as much as 7 per cent to Rs 222.95, its highest since May 10. Read more

12.25 pm

SBI hits 6-week high

 

Shares of the country’s largest PSU lender, SBI, today hit a near 6-week high, and technicals suggest further upside. The stock climbed as much as 3.2 per cent to 280.65 rupees, its highest since June 15. Read more

12.15 pm

Sensex movers, shakers

 

12.05 pm

Sensex, Nifty movements

 

 

 

11.55 am

The Sensex scaled a new peak of 37,026 on heavy buying in PSU, banking, auto and infrastructure stocks amid firm global cues. The Nifty too touched a new high of 11,179.

Short-covering of bets, today being the last session of July expiry in the derivatives segment, and strengthening of rupee against the dollar, kept the overall market sentiment high.

At 11.50 am local time, the Sensex was trading up 124.58 points or 0.34 per cent at 36,982.81 and the Nifty up 31.55 points or 0.28 per cent at 11,163.55.

Record high

The 30-share index crossed the 37,000-mark by jumping 167.95 points to 37,026.18, breaching its previous intraday record of 36,947.18 hit yesterday. The 50-share index spurted 47 points to hit a new peak of 11,179, surpassing its previous (intraday) record of 11,171.55 hit on January 29.

Analysts said strong liquidity in the market following unabated buying by domestic institutional investors and encouraging Q1 earnings by some companies lifted the mood.

As per provisional data, DIIs bought shares worth Rs 97.64 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 1,195.75 crore yesterday.

11.45 am

Canara Bank jumps to 6-week high

 

Shares of Canara Bank climbed to near 6-week high on Q1 results. Shares of the state-run lender rose as much as 5.19 per cent to Rs 272.40, their highest since June 15. Read more

11.35 am

Global forex market

 

The dollar slipped and the euro edged higher, as immediate concerns about global trade tensions ebbed after the United States and the European Union agreed to begin talks to lower tariffs.

The euro was up 0.1 per cent at $1.1738, extending its rise after gaining 0.4 percent the previous day. The dollar index against a basket of six major currencies was down 0.25 per cent at 94.134 after brushing 94.087, its lowest since July 10. Read more

11.20 am

Spot gold holds steady at $1,231.12

 

Gold prices held steady as the dollar eased after US President Donald Trump and European Commission President Jean-Claude Juncker agreed to work towards eliminating trade barriers, easing immediate concerns about global trade tensions. Read more

 

11.05 am

Rupee climbs to 68.69

 

The rupee strengthened by 10 paise to 68.69, extending its rebound for a second straight day, against the US dollar on increased selling of the greenback by exporters and banks amid a strong domestic equity market. Read more

10.55 am

 

10.50 am

Bank Nifty

 

On the put option chain, the In-The-Money Bank Nifty Put 27,100 option contract had turned active on Wednesday. The put option price had closed down 24 per cent at Rs 112.80. OI jumped by 42.15 per cent. Click here to read more

10.40 am

Brent crude jumps to $75

 

Brent crude extended gains for a third day after Saudi Arabia suspended crude shipments through a strategic Red Sea shipping lane and as data showed US inventories fell to a three-and-a-half year low.Brent crude futures jumped 66 cents, or 0.9 per cent, to $74.59 a barrel by 0019 GMT, after gaining 0.7 per cent on Wednesday. Read more

10.30 am

Sensex gainers, losers

Nifty sectoral indices

 

 

10.25 am

The Sensex hit the 37,000-level for the first time today on heavy buying in PSU, oil & gas, banking and oil & gas stocks amid firm global cues. The Nifty too touched a new high of 11,172.20.

Short-covering of bets, today being the last session of July expiry in the derivatives segment, and strengthening of rupee against the dollar, kept the overall market sentiment high.

Early trade

The 30-share index crossed the 37,000-mark by jumping 156.42 points, or 0.42 per cent, to 37,014.65, breaching its previous intraday record of 36,947.18 hit yesterday.

The 50-share index spurted 40.20 points, or 0.36 per cent, to hit a new peak of 11,172.20, surpassing its previous (intraday) record of 11,171.55 hit on January 29.

At 10.25 am local time, the Sensex trading up 126.77 points or 0.34 per cent at 36,985 and the Nifty up 36.1 points or 0.32 per cent at 11,168.10.

Analysts said strong liquidity in the market following unabated buying by domestic institutional investors and encouraging Q1 earnings by some companies lifted the mood.

As per provisional data, DIIs bought shares worth Rs 97.64 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 1,195.75 crore yesterday.

10.10 am

What to watch

 

ITC, Bharti Airtel, Biocon, Maruti, and SBI Life are among the 60-odd companies that will declare April-June quarter results today. Read more

10 am

Jhunjhunwala hikes stake in KVB

 

Rakesh Jhunjhunwala has increased his stake in Tamil Nadu-based Karur Vysya Bank to 4.22 per cent in the April-June quarter from 3.66 per cent at the end of March 2018. Shares of the private lender were trading down by 1.52 per cent at Rs 97.50 on the BSE. Read more

9.50 am

L&T Finance Holdings

 

 

Shares of L&T Finance Holdings have been on the ascend ever since the company announced its financial performance for the April-June period on July 20. The stock jumped almost 22 per cent in just four days. In today's trading session, the shares were down 1.03 per cent at Rs 182.35 on the NSE. Read more

9.40 am

Reliance Nippon jumps 3%

 

Shares of Reliance Nippon Life Asset Management climbed as much as 3 per cent to Rs 241.80 against the previous close of Rs 235.20 as the company has reported a consolidated net profit of ₹112 crore for the April-June quarter this fiscal, a growth of 3 per cent over the ₹109 crore recorded in the year-ago period. The company’s revenue from operations grew 7 per cent to ₹394 crore (₹368 crore). Read more

9.35 am

Broker's call

Centrum Broking

Granules India (Buy)

CMP: ₹93.65

Target: ₹160

Click here to read more

9.30 am

Top 5 Nifty gainers, losers

 

9.25 am

Sensex gainers, losers

 

9.15 am

Opening bell

The 30-share BSE index Sensex gained 89.65 points or 0.24 per cent to 36,947.88 and the 50-share NSE index Nifty climbed 10.95 points or 0.1 per cent to 11,142.95.

9.10 am

Day Trading Guide

₹2173 • HDFC Bank

S1

S2

R1

R2

COMMENT

2160

2145

2185

2198

Initiate fresh long positions with a tight stop-loss if the stock reverses higher from ₹2160 levels

 

₹1383 • Infosys

S1

S2

R1

R2

COMMENT

1370

1360

1395

1410

As long as the stock trades above the base level of ₹1370, the intra-day view remains positive. Buy in dips

 

₹286 • ITC

S1

S2

R1

R2

COMMENT

284

281

289

292

Make use of intra-day dips to buy the stock of ITC while maintaining a stiff stop-loss at ₹284 levels

 

₹159 • ONGC

S1

S2

R1

R2

COMMENT

156

154

162

165

Fresh long positions can be initiated with a tight stop-loss if the stock of ONGC reverses higher from ₹156 levels

 

₹1114 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1102

1090

1122

1135

Initiate fresh long positions with a fixed stop-loss if the stock of RIL manages to bounce back from ₹1102 levels

 

₹271 • SBI

S1

S2

R1

R2

COMMENT

266

262

275

280

Utilise intra-day declines to buy the stock while retaining a fixed stop-loss at ₹266 levels

 

₹1979 • TCS

S1

S2

R1

R2

COMMENT

1960

1940

2000

2020

Fresh short positions are recommended with a stiff stop-loss if the stock falls below ₹1960 levels

 

11136 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11085

11035

11185

11230

Consider initiating fresh long positions with a tight stop-loss if the contract reverses higher from 11,085 levels

 

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

Click here to view the full guide

9.05 am

Today's stock pick

 

Shanthi Gears (₹143.7): Buy

Investors with a short-term perspective can buy the stock of Shanthi Gears, a small cap company at current levels. The stock zoomed 13 per cent with an above average volume on Wednesday, conclusively breaking above the key resistances at ₹135 and ₹140. Read more

Published on July 26, 2018