Markets Live: Sensex spurts 284 points to 37,948; Nifty closes at new high of 11,471

FMCG, metal stocks steal the show

3.55 pm

BSE sectoral indices

 

NSE sectoral indices

 

3.45 pm

Sensex gainers, losers

Top Nifty gainers, losers

 

 

3.30 pm

Closing bell

The Sensex surged 284.32 points or 0.75 per cent to 37,947.88 and the Nifty jumped 85.70 points, or 0.75 per cent, to end at a new high of 11,470.75 on heavy buying in FMCG, metal, banking and healthcare stocks amid positive global cues.

The Nifty surpassed its previous closing high of 11,470.70 hit on August 9. It was the fourth straight week of gains for the benchmarks. The Sensex recorded a rise of 78.65 points, or 0.21 per cent, while the Nifty gained 41.25 points, or 0.36 per cent, during the week.

Intraday, the S&P BSE Sensex touched a new high of 38,022.32 and the Nifty50 scaled a record peak of 11,484.90.

Top five Sensex gainers were YES Bank, State Bank of India, Tata Motors, Vedanta and HUL, while the major losers were Hero MotoCorp, Maruti, ONGC, Coal India and Bajaj Auto.

As per provisional data, domestic institutional investors bought shares worth Rs 133.78 crore, while foreign portfolio investors sold shares worth Rs 825.08 crore yesterday.

The MSCI All-Country World index, which tracks shares in 47 countries, was up 0.2 per cent but set for its third straight weekly fall.

3.10 pm

Global markets

 

World stocks rose as news of plans for US-China trade talks soothed nerves over their tariff war, while the recovery in Turkey's lira ran out of steam. The MSCI All-Country World index, which tracks shares in 47 countries, was up 0.2 per cent but set for its third straight weekly fall. Click here to read more

2.55 pm

Pre-close trade

The S&P BSE Sensex soared 359 points to touch a new high of 38,022.32 and the Nifty gained over 100 points to hit 11,484.65 on heavy buying in metal, FMCG, healthcare and banking stocks amid positive global cues.

 

Top five Sensex gainers were Vedanta, YES Bank, SBI, HUL and ITC, while the major losers were Hero MotoCorp, Maruti, Bharti Airtel, ONGC and Coal India.

 

World stocks rose as news of plans for US-China trade talks soothed nerves over their tariff war, while the recovery in Turkey's lira ran out of steam. The MSCI All-Country World index, which tracks shares in 47 countries, was up 0.2 per cent but set for its third straight weekly fall.

2.45 pm

Brent crude falls to $71

Demand for oil seen hit by economic headwinds. File Photo   -  Reuters

 

Oil prices fell, with US crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth that could hit the demand for petroleum products as inventories build. Brent crude oil futures were down 3 cents at $71.40 a barrel by 00229 GMT. WTI crude futures dropped 1 cent to $65.45 a barrel. Read more

 

2.35 pm

Forex update

Dollar index steady.   -  Reuters

 

The euro rose for a second day in a row as hopes that next week's talks between the United States and China will ease trade tensions between the two pushed the dollar lower. The euro ticked 0.1 per cent higher to $1.1385, while the dollar index - a measure of the dollar against a basket of major currencies - fell 0.1 per cent to 96.513. Read more

2.20 pm

Nifty 50 August Futures (11,485)

 

Traders can go long only if the contract breaks above 11,500. Stop-loss can be placed at 11,480 for the target of 11,545. Revise the stop-loss higher to 11,515 as soon as the contract moves up to 11,525. Click here to read more

2.10 pm

European markets

 

European shares were slightly higher at the open as investors exerted caution about the Turkish lira recovery as well as China and the United States' latest efforts to avert a trade war. At 0714 GMT, the pan-European STOXX 600 was up 0.02 per cent at 381.49 points. Read more

1.55 pm

China shares end at 31-month low

 

Shanghai stocks closed at a near 31-month low, dragged down by a slump in healthcare firms amid a vaccine scandal fallout, but planned talks between the United States and China helped ease trade war fears. Read more

1.45 pm

NSE sectoral indices

Metal, FMCG and bank stocks led the gains on the NSE index.

BSE sectoral indices

 

 

1.35 pm

Mid-session trade

Domestic shares continued their uptrend on heavy buying in metal, FMCG, healthcare and banking stocks amid positive global cues.

The Sensex was trading higher by 272.17 points or 0.72 per cent at 37,953.73 and the Nifty up 80.5 points or 0.71 per cent at 11,465.55.

Asian shares won a modest reprieve after China and the United States agreed to hold their first trade talks since June next week and as the Turkish lira extended gains from its record low earlier this week.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.46 percent, a day after it hit its lowest level in a year. Japan's Nikkei advanced 0.5 percent.

“We are seeing some rotational moves today. Initially, the top five or seven contributors were leading the gains and now other large-cap stocks are also participating,” said Rusmik Oza, senior vice-president & head of fundamental research at Kotak Securities in Mumbai.

1.25 pm

Payment apps: All that you need to know

 

We have come a long way from the barter system to cash-based payments, cheques and, now, digital payments. The proliferation of smartphones, increasing internet speed through 4G technology and abundant data have led to a surge in financial transactions through mobile phone and mobile applications (apps) in recent times. Click here to read more

 

1.10 pm

NPS score-card

 

As an important retirement investment vehicle, the national pension system offers considerable diversity — equity, government debt and corporate bonds. Majority of the eight fund managers have delivered well across all three asset classes over the past few years. Click here to read more

12.50 pm

IL&FS Transportation rallies 10.6%

 

Shares of IL&FS Transportation Networks rallied as much as 10.6 per cent as the company has signed definitive agreements with Ramky Infrastructure to acquire and sell stake in two special purpose vehicles.

Following a positive open at Rs 33.50 against the previous close of Rs 33, the stock touched intraday high of Rs 36.50 and a low of Rs 33.25.In terms of equity volume, 0.94 lakh shares exchanged hands on the BSE. Read more

12.35 pm

Jet Airways' Q1 results on Aug 27

 

Jet Airways’ board of directors will be held on August 27 to consider and approve the unaudited financial results for the first quarter ended June 30. Read more

12.25 pm

MCX gold

 

Gold prices edged up by 0.09 per cent to Rs 29,355 per 10 grams at the futures trade due to building up of fresh positions by speculators owing to firm global cues. Read more

12.10 pm

Jet Airways climbs 3%

Shares of India's biggest full-service airline Jet Airways (India) Ltd climbed as much as 2.9 per cent to Rs 309. Read more

12 noon

Forex market

Dollar index steady.   -  Reuters

 

The dollar stepped back from 13-1/2-month highs against other major currencies as talks next week between China and the United States offered some hope that the world's two largest economies will find a way to head off a full-blown trade war. The dollar index, a measure of the greenback's strength against a basket of six major peers, was 0.1 per cent lower at 96.549. Read more

11.45 am

Sensex gainers, losers

Top Nifty gainers, losers

 

11.40 am

Domestic shares were trading higher by nearly one per cent on positive global cues after China and the United States agreed to hold their first trade talks since June next week and as the Turkish lira extended gains from its record low earlier this week.

The Sensex was trading higher by 304.86 points or 0.81 per cent at 37,968.42 and the Nifty up 88.65 points or 0.78 per cent at 11,473.70.

Top five Sensex gainers were YES Bank, Vedanta, Tata Steel, Kotak Bank and ITC, while the major losers were Bharti Airtel, ONGC, PowerGrid, Wipro and Bajaj Auto.

All BSE sectoral indices were trading in the green. As per provisional data, domestic institutional investors bought shares worth Rs 133.78 crore, while foreign portfolio investors sold shares worth Rs 825.08 crore yesterday.

11.30 am

Gold loses haven appeal as dollar’s clout grows

 

Incurable gold bulls have never been as thoroughly disillusioned as in recent times. Not very long ago (say until five years ago or till early 2013) they had witnessed what by today’s standards can be described as astronomical prices of $1,700-1,800 an ounce.

The precious metal — a unique embodiment at once of an investment asset class and a consumption asset class, commodity and currency, as also a haven asset — is today an embattled one struggling to arrest a free fall. Click here to read more

11.15 am

New fund offers from Tata AMC, BNP Paribas

 

Tata Asset Management has launched Tata Multicap Fund, an open-ended equity scheme investing across large-, mid- and small-cap stocks. The issue will be open between August 17 and 31. Click here to read more

11 am

India Inc's Q1 performance

 

Brokerages are content with India Inc’s performance in the June quarter, which was aided by a lower base in the same quarter last year given June 2017 being the pre-GST quarter. According to Kotak Institutional Equities, adjusted net profit growth of Nifty companies grew 12.3 per cent year-on-year (2 per cent above estimates) while net profit of its universe grew 12.5 per cent (14.4 per cent above estimates). Read more

10.50 am

Bank Nifty

 

Among the call option chain, the In-The-Money Bank Nifty Call 27,800 option was the actively traded contract on Thursday. The option price was down 23 per cent at Rs 351.35. However, open interest in the contract increased by 17.30 per cent. Click here to read more

10.35 am

Kotak Bank shares rebound

 

Shares of Kotak Mahindra Bank jumped as much as 2.2 per cent in today's trade. After opening strong at Rs 1,257.70 against the previous close of Rs 1,244.90, the stock touched intraday high of Rs 1,271.85 and a low of Rs 1,246.35.

Investors are awaiting the next step by private sector lender Kotak Mahindra Bank after the RBI said its preference share allotment does not meet promoter dilution norms.

Uday Kotak

 

The private sector lender could possibly have to seek an extension from the RBI to dilute its promoter equity from the December deadline even though the lender has said it will “engage” with the central bank on the issue. Click here to read more

10.25 am

Asian markets

MSCI emerging markets index closed at 13-month low on Thursday.   -  Reuters

 

Asian shares won a modest reprieve after China and the United States agreed to hold their first trade talks since June next week and as the Turkish lira extended gains from its record low earlier this week. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.4 per cent, a day after it hit its lowest level in a year. Read more

10.10 am

Lemon Tree Hotels gains nearly 2%

 

Shares of Lemon Tree Hotels gained as much as 1.7 per cent as the company has signed a licence agreement for a 90-room property in Vijayawada under Red Fox Hotel brand. The hotel is expected to be operational by June 2020.

Following a positive open at Rs 78.50 against Thursday's close of Rs 78, the stock touched intraday high of Rs 79.55 and a low of Rs 78.50. In terms of equity volume, 7,908 shares exchanged hands in the morning trade. Read more

10 am

Domestic shares were trading up by 0.7 per cent on heavy buying in healthcare, metal, FMCG and realty stocks amid positive global cues.

 

 

The Sensex was trading higher by 259.64 points or 0.69 per cent at 37,923.20 and the Nifty up 70.6 points or 0.62 per cent at 11,455.65.

Top five Sensex gainers were ITC, Tata Steel, Vedanta, Adani Ports and Kotak Bank, while the major losers were Bajaj Auto, Bharti Airtel, ONGC, PowerGrid and NTPC.

 

Asian shares won a modest reprieve after China and the United States agreed to hold their first trade talks since June next week and as the Turkish lira extended gains from its record low earlier this week.

9.55 am

Ion Exchange stocks spurt 5%

 

Shares of Ion Exchange (India) jumped as much as 4.99 per cent as the company has signed a contract for engineering, procurement, supply and construction of water treatment plant worth ₹438.84 crore.

After opening the session at Rs 410.30 against the previous close of Rs 390.85, the stock touched intraday high of Rs 410.35 and a low of Rs 410.30. Read more

9.45 am

What to watch

BL15-BEL-PG5

 

BEL, Sun TV and L&T Finance are among 19 companies will turn ex-dividend on Monday (August 20). Those wishing to receive the payout should own these stocks by today. Read more

9.35 am

NBCC (India) jumps 2.5%

 

Shares of NBCC (India) gained as much as 2.5 per cent to Rs 76.50 against the previous close of Rs 75.25 as the company has bagged an order worth ₹250 crore from Steel Authority of India for construction of Ispat post-graduate medical institute and super-speciality hospital at Rourkela steel plant in Odisha.

After opening the session at Rs 76.05, the stock touched intraday high of Rs 76.50 and a low of Rs 75.20. At 9.35 am, the shares were up 0.6 per cent at Rs 75.70. Read more

9.25 am

Broker's call

HDFC Securities

Sonata Software (Buy)

CMP: ₹356.9

Target: ₹375

Click here to read more

9.15 am

Opening bell

The Sensex jumped nearly 200 points in the opening trade on positive Asian cues. The S&P BSE index was up 189.03 points at 37,852.59 against Thursday's close of 37,663.56 and the Nifty gained 52.05 points to 11,437.10 against 11,385.05.

Asian shares won a modest reprieve after China and the United States agreed to hold their first trade talks since June next week and as the Turkish lira extended gains from its record low earlier this week.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.4 per cent, a day after it hit its lowest level in a year.

9.10 am

Today's Pick

We recommend a buy in the stock of Aster DM Healthcare at the current levels of Rs 184.5. 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:

₹2075 • HDFC Bank

S1

S2

R1

R2

COMMENT

2065

2050

2089

2102

Make use of intra-day rallies to initiate fresh short positions while maintaining a stiff stop-loss at ₹2089 levels

 

₹1425 • Infosys

S1

S2

R1

R2

COMMENT

1412

1400

1435

1450

Fresh long positions can be initiated with a fixed stop-loss if the stock reverses higher from ₹1412 levels

 

₹306 • ITC

S1

S2

R1

R2

COMMENT

304

301

310

313

Initiate fresh short positions with a tight stop-loss only if the stock of ITC declines below ₹304 levels

 

₹164 • ONGC

S1

S2

R1

R2

COMMENT

162

159

167

170

The stock experiences selling pressure at higher levels. Sell in rallies with a fixed stop-loss at ₹167 levels

 

₹1200 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1190

1175

1213

1225

Fresh short positions are recommended with a tight stop-loss only if the stock falls below ₹1190 levels

 

₹292 • SBI

S1

S2

R1

R2

COMMENT

288

283

298

303

Near-term stance is negatively biased for the stock of SBI. Make use of rallies to go short with a fixed stop-loss

 

₹2008 • TCS

S1

S2

R1

R2

COMMENT

1990

1970

2030

2050

Initiate fresh long positions with a stiff stop-loss if the stock of TCS advances above ₹2030 levels

 

11410 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

11360

11310

11460

11500

Fresh long positions can be initiated with a tight stop-loss if the contract moves beyond 11460 levels

 

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

Read the full guide here

Published on August 17, 2018